Too much success: Maria Tucker now

Illustrations by Amedeo De Palma

Maria Tucker, Toronto

Then: February/March 2004

&

Now…

Ten years ago Maria Tucker was a 42-year-old marketing executive, earning a six-figure salary in Toronto. She was a single mom just a year away from paying off the mortgage on her townhouse. And because of her good saving habits, she’d tucked away $91,000 into her RRSP. But even though Maria was a huge success at both her job and her finances, she’d grown tired of work-related stress and labouring away at 70-hour workweeks. She wanted to kick back, take a few photography and cooking courses and spend more time with her daughter Christina, then 13. “I feel like the world is whipping by and I’m stuck in a corporate wind tunnel,” she told MoneySense back in 2004. Being no stranger to hard work, Maria was willing to take part-time jobs—even tending bar or bagging groceries—to finance her escape from corporate life. Still, she didn’t want to endanger Christina’s university education or the quality of their life together. Going for Maria was the fact she would be happy to maintain a fairly simple lifestyle. But was she really ready to quit her job? Our experts were afraid Maria might find out the hard way that low-paying jobs aren’t quite the low-stress, relaxing paradise she expected. Moreover, if she were really intent on leaving her marketing job, she would also want to make sure both her mortgage and line of credit were fully paid off before doing so. As well, the experts suggested she leave her pension with her company rather than transfer it to an RRSP. 10 years later. Maria ended up sticking with her marketing job for another two years after she spoke to MoneySense and actively lobbied for a severance package at work. She got one totalling $200,000, using some of it to pay off her debts and a small portion to start up an active consulting business that gave her the flexibility she craved. That allowed her to spend more time with her daughter, and pursue her dream of post-secondary education. “I knew paying off all my debts before I quit my job was crucial for my plan’s success,” Maria says. “MoneySense’s experts reinforced that view, which made all the difference in keeping me on track with my payments.” After three years of running her own business, Maria decided to focus on getting a job in the fundraising sector, a job she loves and still holds today. “Following my heart has had great advantages,” says Maria, now 52. “But it hasn’t been as easy for my daughter. She was used to going on vacations all the time. But she soon got over that when we started spending more time together.” As for her company pension, Maria stayed in the plan for a couple more years after receiving her severance, but then had the $190,000 commuted value transferred into her LIRA (Locked-In Retirement Account). “I had read up on investing and felt I knew enough to build a portfolio of a dozen or so blue-chip stocks myself. It’s worth $330,000 today.” All these Family Profile stories show how getting expert advice at key times can be hugely helpful in focusing you on your goals. Timing is also important. Deep down, many of us don’t really want to change. But if you’re honest with yourself about what needs to be done differently and get an unbiased second opinion, you’ll be motivated to make the right choices. Where Maria Stands

Comments Cancel reply

Columns

Why I’m optimistic about the markets in 2025–tariffs or no

This advisor isn’t losing any sleep over the markets. In fact, looking back at 2024 and forward into 2025,...

Why I’m optimistic about the markets in 2025–tariffs or no

A car steering wheel and a bowl of pasta, as symbols of how to get the best auto loan interest rate.

loans

Car loan interest rates: What’s the best Canadians can get?

Car loan interest rates can be as confusing as a complicated recipe, and just as daunting to navigate. This...

Car loan interest rates: What’s the best Canadians can get?

Newcomer to Canada buying their first car at the dealership asking questions of the sales person about getting a car loan.

Newcomers to Canada

Auto loans for newcomers—questions to ask when buying your first car in Canada

Buying your first car in Canada is like any other major purchase. Ask a lot of questions, not just...

Auto loans for newcomers—questions to ask when buying your first car in Canada

A woman using the MoneySense Finder tool at her work-from-home desk

ETFs

Buying ETFs in Canada Tool: The MoneySense ETF Screener

Which ETFs should you invest in? Which ones best suit your risk tolerance? What about personal ethics? Check out...

Buying ETFs in Canada Tool: The MoneySense ETF Screener

Budgeting

What is the Canada Carbon Rebate? Plus, dates and amounts for 2025 rebates

The Canadian government is sending out the last carbon rebate of 2024. See who’s eligible and how much you...

What is the Canada Carbon Rebate? Plus, dates and amounts for 2025 rebates

Canadian woman buying a car, as she learns to manage her money.

loans

Personal Finance For Canadians For Dummies excerpt: How to manage money and stop overspending

Learn how to manage your money, understand your earnings, invest wisely and more, from this excerpt of Personal Finance...

Personal Finance For Canadians For Dummies excerpt: How to manage money and stop overspending

Save

How much money should I have saved by age 40?

Sponsored By

CIBC

How much money should I have saved by age 40?

Save

How much money should I have saved by age 25?

Sponsored By

CIBC

How much money should I have saved by age 25?

Real Estate

How changes to the Home Buyers’ Plan could affect your down payment

Sponsored By

EQ Bank

How changes to the Home Buyers’ Plan could affect your down payment

FHSA

Unsure about buying a home? Why you should open an FHSA now anyway

Sponsored By

EQ Bank

Unsure about buying a home? Why you should open an FHSA now anyway

Too much success: Maria Tucker now

Maria Tucker, Toronto

Then: February/March 2004

&

Now…

Comments Cancel reply

Related Articles

Why I’m optimistic about the markets in 2025–tariffs or no

Car loan interest rates: What’s the best Canadians can get?

Auto loans for newcomers—questions to ask when buying your first car in Canada​

Buying ETFs in Canada Tool: The MoneySense ETF Screener

What is the Canada Carbon Rebate? Plus, dates and amounts for 2025 rebates

Personal Finance For Canadians For Dummies excerpt: How to manage money and stop overspending

How much money should I have saved by age 40?

How much money should I have saved by age 25?

How changes to the Home Buyers’ Plan could affect your down payment

Unsure about buying a home? Why you should open an FHSA now anyway

Auto loans for newcomers—questions to ask when buying your first car in Canada