Tom Drake

Airdrie, Calgary, Canada

Writer and Editor at Get Rich Slowly

I'm Tom, father to 2 boys and founder of @MapleMoneycom. Writer/Editor at @getrichslowly @RetireHappyBlog I live in #Airdrie #YYC.

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Articles

You Can Start a Business With as Little as $0

Aug 23, 2024 | business.com | Tom Drake

It is possible to go into business with limited startup capital. Here is how to become a successful entrepreneur, even without huge assets.
Does the Executor of a Will Get Paid an Executor Fee?

Apr 12, 2024 | retirehappy.ca | Tom Drake |Doug Runchey |Jim Yih |Colin Graves

Most people know they need to appoint an executor when making a will, but they may not realize that all executors are entitled to compensation from the estate assets, provided they fulfill their responsibilities. So, what is a reasonable allowance for your executor, and how do you ensure they receive proper compensation from your estate? After all, you will be gone. In this article, I’ll explain how executor compensation works and how much executors can expect to be paid.
7 Best Airport Lounge Access Credit Cards in Canada

Mar 3, 2024 | retirehappy.ca | Tom Drake |Doug Runchey |Jim Yih |Colin Graves

Navigating through airports can be a stressful experience, but a comfortable and relaxing airport lounge can make all the difference. One of the easiest and most affordable ways to access an airport lounge is with a credit card that offers complimentary airport lounge passes. But which travel credit cards in Canada include airport lounge passes, and which lounge networks are included? In this article, I’ll cover seven of the top airport lounge access credit cards in Canada.
Converting your RRSP to a RRIF: What you need to know

Nov 30, 2023 | retirehappy.ca | Tom Drake |Doug Runchey |Jim Yih |Colin Graves

When planning for retirement, Canadians often turn to registered retirement savings plans (RRSP) as a tax-advantaged option to grow their money. After all, RRSPs are designed to help you accumulate retirement wealth. However, as you near retirement, knowing when and how to convert your RRSP into income using a Registered Retirement Income Fund (RRIF) can ensure a steady income stream throughout your golden years.
CIBC Investor's Edge Review: Affordable Canadian Online Brokerage?

Nov 28, 2023 | retirehappy.ca | Tom Drake |Doug Runchey |Jim Yih |Colin Graves

If you’re in search of a platform to trade stocks and ETFs online, pricing is likely a top consideration. In Canada, there are a few low-priced online brokers to choose from, such as Wealthsimple Trade and Questrade. Surprisingly, one of the lowest-price offerings is from a big bank broker – CIBC Investor’s Edge. But how does Investor’s Edge compare to other top brokers, and is it worth signing up for? In this CIBC Investor’s Edge review, we’ll cover the key features, pricing, and pros and cons.
TD Direct Investing Review: Are The High Fees Worth It?

Nov 23, 2023 | retirehappy.ca | Colin Graves |Doug Runchey |Jim Yih |Tom Drake

Online investing platforms have lowered the costs for Canadians who want to manage their own investments. Whether it’s a robo-advisor platform or an online brokerage, you can now trade thousands of stocks and ETFs from your desktop computer or mobile device for little to no cost. But with so many investment platforms to choose from, how do you know which one is right for you? This TD Direct Investing review looks closely at one of Canada’s leading self-directed trading platforms.
What Is a Certified Financial Planner (CFP)?

Nov 21, 2023 | retirehappy.ca | Tom Drake |Doug Runchey |Jim Yih |Colin Graves

In an attempt to save on costs, millions of Canadians are using self-directed investing platforms to manage their own investments. These robo-advisors and online brokerages have made investing more affordable than ever before. But while you may save money on your investments, they don’t offer financial planning advice. That’s where a Certified Financial Planner (CFP) comes in.
Petsecure Review: Is it Worth It?

Nov 19, 2023 | maplemoney.com | Tom Drake

Advertiser DisclosureOur goal at MapleMoney is to present readers with reliable financial advice and product choices that will help you achieve your financial goals. To do that, transparency is critical. MapleMoney receives compensation from some companies issuing financial products, like credit cards and bank accounts, that appear on this site.
What Is a Secured Credit Card?

Nov 16, 2023 | maplemoney.com | Tom Drake

A secured credit card can help individuals with limited or poor credit history to rebuild their credit scores. However, many Canadians are unsure of how secured cards differ from regular and prepaid credit cards. This article covers the basics of secured credit cards and explains when you might need one. What Is a Secured Credit Card? Secured credit cards work much like regular ones, but with one key difference: they require a refundable security deposit.
Mortgage Insurance vs Term Insurance: Which Should You Choose?

Nov 16, 2023 | retirehappy.ca | Colin Graves |Doug Runchey |Jim Yih |Tom Drake

If you have a mortgage, having ample life insurance coverage is critical for protecting your family and home. But there is more than one way to purchase life insurance that protects what is likely your biggest investment. You can choose to buy life insurance that is tied to your mortgage. This is known as mortgage life insurance. Or, you can purchase a separate term life insurance policy to pay off your mortgage if you pass away. But which is the better option of the two?