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Steven Porrello

Steven Porrello

Steven Porrello joined the Motley Fool Canada team in 2020 and has six years of experience writing on financial topics and investing. His work has been featured regularly on MSN Money, Yahoo! Finance, Nerdwallet, and Motley Fool's The Ascent.

Recent Articles

Community homes
Personal Finance

Don’t Count on Low Mortgage Rates Forever: a Rate Hike Could Come Sooner Than You Think

| Steven Porrello

Will a mortgage rate come early next year, or will the Omicron variant postpone it?

Read more »

edit CRA taxes
Personal Finance

10 Different Ways to Understand Just How Big Elon Musk’s US$11 Billion Tax Bill Is

| Steven Porrello

Elon Musk's tax bill is US$11 billion. Here's what that sum could buy.

Read more »

Lady holding mobile phone and shopping bags
Personal Finance

From Uber to Alcohol: These Deals Could Help You Get More Aeroplan Rewards for Everyday Shopping

| Steven Porrello

How can you amass more Aeroplan points? Easy -- shop at these retailers.

Read more »

question marks written reminders tickets
Personal Finance

5 Questions to Ask Before Opening Your First Brokerage Account

| Steven Porrello

It pays to do your research before you open your first brokerage account.

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consider the options
Personal Finance

How to Stack Canadian Tire Offers (And Earn a Tonne of Rewards)

| Steven Porrello

How does stacking work? Below, we'll show you how to stack personalized offers with flyer discounts to help you earn…

Read more »

online shopping
Personal Finance

Here’s Why You Should Use Your Credit Card for Every Holiday Purchase (Hint: It’s Not Reward Points)

| Steven Porrello

Do you use cash for holiday purchases? If you don't want to miss out on these benefits, use a credit…

Read more »

Human Hand Placing A Coin On Increasing Coin Stacks In Front Of House
Personal Finance

If You’re One of These 4 Types of People, You Should Wait to Buy a Home

| Steven Porrello

Who's ready to buy a home? If you're one of these four types of people, then it's probably not you.

Read more »

Retirement plan
Personal Finance

5 Things No One Tells You About Early Retirement

| Steven Porrello

Early retirement is a popular idea. But here are five things early retirees don't tell you.

Read more »

Various Canadian dollars in gray pants pocket
Personal Finance

If You’re Using Your Side Hustle to Fund Your Lifestyle, You’re Totally Missing the Point

| Steven Porrello

Here's how a side gig can become both a waste of time and money.

Read more »

cup of cappuccino with a sad face
Personal Finance

Is 2022 Really the Worst Year to Be a New Investor? Possibly, But Here’s Why You Should Invest Anyway

| Steven Porrello

Why are investors so pessimistic about 2022? If you're a new investor, what should you do? Let's take a look…

Read more »

online shopping
Personal Finance

Canadian Tire vs. CIBC Costco Mastercard: Which Rewards Card Is Better?

| Steven Porrello

The CIBC Costco Mastercard and the Canadian Tire Mastercard have entered the rink. Which one will come out victorious?

Read more »

Retirement plan
Personal Finance

1 Thing Everyone Gets Wrong About Early Retirement (And 1 Thing They Get Right)

| Steven Porrello

It's not about not working. It's about having the financial security to find a job you love.

Read more »

close-up photo of investor Warren Buffett
Personal Finance

Warren Buffett to New Investors: Don’t Invest Like Warren Buffett

| Steven Porrello

Buffett is the kind of investor you want to emulate, right? Well, if you're a beginner, maybe not...

Read more »

Retirement
Personal Finance

Could Working in Your 70s Be the New “Dream” Retirement?

| Steven Porrello

Let's face it: most of us are freaking out about retirement. Last month, in fact, the Global Retirement Index told…

Read more »

grow dividends
Personal Finance

How to Turn a Side Hustle Into a Million Dollar Retirement Fund

| Steven Porrello

Can your side hustle help you retire a millionaire? It's certainly possible, but you'll have to apply these things to…

Read more »

Dots over the earth connecting the world
Personal Finance

How to Travel Around the World With 150,000 Aeroplan Points

| Steven Porrello

Here's how to use 150,000 Aeroplan points to fly from Canada, around the world, and back to Canada. Twice.

Read more »

edit
Personal Finance

The One Cash Back Secret Everyone Is Missing: Double-Dip With Cash Back Apps

| Steven Porrello

Maxing out your cash back has never been simpler, and it comes to us in the form of cash-back apps.

Read more »

Credit card, online shopping, retail
Personal Finance

Rewards Points Become Worthless Over Time. Here’s What Happens When You Don’t Use Them

| Steven Porrello

Credit card rewards aren’t like stocks: you don’t want to hold on to them for the long-run. Though amassing rewards…

Read more »

online shopping
Personal Finance

How to Earn Double the Rewards on the CIBC Costco Mastercard

| Steven Porrello

With a Gold Star Executive Costco membership, you earn 2%. Stack that with a Costco Mastercard, and you'll earn even…

Read more »

edit Back view of hugging couple standing with real estate agent in front of house for sale
Personal Finance

3 Mortgage Mistakes Every First-Time Homebuyer Makes (And How to Avoid Them)

| Steven Porrello

Mortgages can be fairly complicated, and if you're blinded by low rates, you could make some pretty costly errors.

Read more »

House Key And Keychain On Wooden Table
Personal Finance

Will House Prices Level Out in 2022? Here’s Why Homebuyers Shouldn’t Hold Their Breath

| Steven Porrello

Could home prices level out in 2022? It's possibly, but here's why I'm skeptical.

Read more »

consider the options
Personal Finance

5 Life Hacks From Elon Musk That Could Help You Reach Your Full Potential

| Steven Porrello

What can we learn from Musk about meeting our full potential? He has a lot to say on this topic,…

Read more »

You Should Know This
Personal Finance

5 Ways You’re Wasting Your Aeroplan Points

| Steven Porrello

If you don't understand how the Aeroplan program works, it's fairly easy to redeem your points for the wrong things,…

Read more »

Double exposure of a businessman and stairs - Business Success Concept
Personal Finance

Here’s What I Don’t Like About the Canadian Tire Mastercard (Hint: How Much it Earns)

| Steven Porrello

Thinking about getting the Canadian Tire Mastercard? Consider these three drawbacks first.

Read more »

Community homes
Personal Finance

First-Time Homebuyers, Watch Out: This Is How You’ll Lose Money on Your First Home

| Steven Porrello

With home prices high, you don't want to lose money on these common mistakes.

Read more »

money cash dividends
Personal Finance

No Time for a Side Gig? Try These Passive-Income Ideas Instead

| Steven Porrello

If you're looking for a simple passive-income strategy, these three can certainly point you in the right direction.

Read more »

cup of cappuccino with a sad face
Personal Finance

3 Things I Really Don’t Like About the New CIBC Costco Mastercard

| Steven Porrello

Find out what this writer dislikes about the new CIBC Costco Mastercard.

Read more »

edit
Personal Finance

Here’s Why December Might Be the Best Month to Apply for a New Credit Card

| Steven Porrello

If you're in the market for a new credit card, here's why you should get one before December ends.

Read more »

Baubles On Snow With Snowy Christmas Tree
Personal Finance

12 Simple Ways to Earn Cash Back This Christmas

| Steven Porrello

Apply these 12 strategies, and you can amass more cash back this Christmas.

Read more »

Early retirement handwritten in a note
Personal Finance

Want to Retire Early? Use an RRSP First, Not a TFSA

| Steven Porrello

Both RRSPs and TFSAs can help you with your early retirement strategy. But the RRSP has a leg up on…

Read more »

Female hand holding piggy bank. Save money and financial investment
Personal Finance

No Retirement Savings at 40? Do These Things ASAP to Catch Up

| Steven Porrello

Hey, don't worry -- you still have time to save. Do these things now, and you'll be back on track.

Read more »

edit CRA taxes
Personal Finance

New Tax Breaks Are Coming in 2022: What Does That Mean for Your Income?

| Steven Porrello

What tax changes can you expect in 2022?

Read more »

Double exposure of a businessman and stairs - Business Success Concept
Personal Finance

Why Is Elon Musk So Productive? Here’s How He Gets More Work Done Than the Average Person

| Steven Porrello

How does Elon Musk manage three major companies? These three productivity tips might help us understand his drive.

Read more »

Economic Turbulence
Personal Finance

These Beginner Stock Trading Mistakes Could Stop You From Long-Term Success

| Steven Porrello

If you're new to stock trading, and you don't want to go broke, here are three common mistakes to avoid.

Read more »

money cash dividends
Personal Finance

3 Passive-Income Myths That Could Get in the Way of Making Some Serious Money

| Steven Porrello

To earn serious money, you have to see through the myths.

Read more »

Airport and plane
Personal Finance

3 Round-the-World Trips That Will Help You Get the Most Out of Your Aeroplan Points

| Steven Porrello

Ever since Aeroplan revamped their rewards program last year, travelers have had a unique opportunity to travel around the world…

Read more »

investment research
Personal Finance

Feeling Short-Staffed? Bring More Employees to Your Small Business With These Hacks

| Steven Porrello

Here are just three hacks that could help you draw some much-needed employees to your small business.

Read more »

House Key And Keychain On Wooden Table
Personal Finance

Bank of Canada to Homebuyers: Don’t Buy Right Now!

| Steven Porrello

Let's take at the primary reason why the Bank of Canada is suggesting now is not the best time to…

Read more »

Portrait of woman having fun in the street.
Personal Finance

Finally Revealed! Perks for the New CIBC Costco Mastercard

| Steven Porrello

Finally -- the CIBC Costco Mastercard's perks have been revealed.

Read more »

online shopping
Personal Finance

Is That Credit Card Welcome Bonus Really Worth it? Here’s How it Could Come Back to Haunt You

| Steven Porrello

Credit card bonuses don't always live up to their reputation. Here's how a welcome bonus can go wrong.

Read more »