Posted on: June 11, 2018
Recent studies have shown that as many as 60% of Canadians will not have saved enough money in order to adequately provide for their retirement.1 The problem for most people is not that they plan to fail, they simply failed to plan, adequately. And, while many may have been conscientiously saving towards retirement, somewhere along the line they lost sight of their target. Either the target never existed or it was never very clear in their sights. Without a target, they can't possibly know where or how high to aim.
Posted on: February 12, 2018
Despite what many people think, the number one financial dream killer isn't portfolio losses, or financial emergencies, or unemployment, and not even natural disasters. The number one reason people fail to reach their financial goals is procrastination - putting off the inevitable until the cost of your dreams or goals become prohibitively expensive.
Why People Procrastinate
Posted on: January 15, 2018
We've had a few weeks to make and break our New Year's resolutions. Now is a good time to make some promises to give your finances an extra boost in 2018 and help see you better off by year-end.
Posted on: March 13, 2017
Many people have no idea. Some people have a vague idea. A few people, a very few, have it all worked out. When it comes to retirement planning, many people do not take action until forced to by a mid-life event (career change, death of loved one) or by hearing about seniors running out of money.
Posted on: November 12, 2014
Many parents wrestle with the dilemma of how much financial support to provide their children attending post-secondary programs. The costs today are much greater than what the parents paid for similar schooling some thirty or more years ago.
Tuition costs alone have risen at least tenfold since the 1970's for a basic humanities degree, never mind the enormous cost increases for professional programs such as engineering, business, law and medical school.
Posted on: July 12, 2014
The financial planner responded by saying that if the public stock markets were going down the drain, then real estate would follow as well. Why? Well it is one economy and we are all connected at the end of the day! Shocked, the veteran of 30-years in real estate responded that he had never thought of it that way and walked away shaking his head.
Posted on: March 11, 2014
To truly appreciate the role that inflation plays in your ability to build assets and achieve financial freedom one has to consider the role of its dance partner: purchasing power. You can't have one without the other!
Posted on: January 15, 2013
Give your finances a boost this new year. Here is a list of financial resolutions to help you become better off at the end of the coming twelve months:
Eliminate personal debt. - Brad and Angie had fallen into the very common habit of buying lots of 'stuff' with their credit cards and soon were carrying a balance from month to month. At 19.9%, it is very expensive to live this kind of lifestyle. And any new purchases attract the same financing charge from date of purchase.
Posted on: April 9, 2012
With so many doom & gloom news headlines, it is refreshing to know Canadians can still get very low fixed rate mortgages. A recent Financial Post article (March 9, 2012) explains that with big banks competing strongly for new mortgage business, now is a great time for Canadians to refinance their mortgages to improve personal cash flow.
Posted on: March 5, 2012
Some financial decisions get made without enough thought given to the long term consequences. Here are some financial mistakes you can avoid:
Mortgage amortized too long:
With lenders offering 30 year amortization periods, it may look attractive to go with a smaller monthly payment to get into a larger house, but the extra interest charges only benefit the lender.
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