If it seems that there is constant negative press about Generation Y and its ability to survive in today’s economy, you’re right. It’s a lot tougher out today for young people to make it financially. Tuition fees are extraordinarily high and continue to climb. Home prices in the Lower Mainland are pretty much unaffordable for […]
If you have married later in life or for the second time, keeping your finances separate seemed the sensible thing to do. The basic costs such as the mortgage, utilities, taxes and insurances were split 50/50. You took care of your own personal needs and lifestyle costs. You each have your own savings and retirement […]
Lifestyle planning in retirement may be a bit easier when there is only one of you. It’s very simple to create a bucket list for exactly what you’d like to do during retirement. There are no arguments if you decide that travel just isn’t for you – or if travel means a month in Italy […]
Tax Free Savings Accounts (TSFAs) offer a number of advantages to Canadians, and an important one is flexibility. While a Registered Retirement Savings Plan (RRSP) is designed to put aside funds for retirement, a TFSA can be used to put money aside for any purpose. If you are looking for a way to save for […]
Since Tax-Free Savings Accounts (TFSAs) have been mentioned during the current federal election campaign, now is a good time to review them and explain what they are and how this financial vehicle can help you save for your goals.
If you are among the minority of private sector employees covered by an employer-sponsored pension plan, you need educate yourself about how this benefit fits into your overall financial plan for retirement. Depending on whether your employer offers a defined benefit (DB) or a defined contribution (DC) plan, your plans for your future may look […]
One of the single most important questions you need to understand before entering retirement is to know what your safe withdrawal rate is, based on how much you have saved. In other words, how much you can “safely” take as an income each year from your portfolio so you don’t outlive your money?
Factors Affecting […]
Whether you know it or not, you are teaching your kids about money every day by how you spend it, save it, invest it or waste it. Whether you qualified or not, you are their money coach and they will learn by listening to you and watching your every move.
When you make a major life change into retirement, you will hopefully enjoy several years of active living. Although it would be wonderful if this continued throughout our entire retirement, nature has other plans for us! More likely we will have 10-15 years of active living and then we gradually start to slow down . […]
Nobody takes pleasure in suddenly becoming unemployed. Just the ‘prospect’ alone can be very overwhelming and stressful. Often the worry or anxiety comes from feeling you have no control over the situation. This is partially true; you may not be able to control what your employer does but you can control to some extent how […]