Risk & Wealth Planning
POSTED BY PETER WOUTERS Things often go wrong or take an unexpected turn even though you carefully planned what you were going to do. Robert Burns’ famous line basically said that the best laid plans of mice and men often go astray. That extends to intentions of staying on the job or finding paid work later […]
How to understand the language of finance like a boss. DOES THIS SOUND FAMILIAR? A colleague is talking to you about the alpha of one of their investments. You nod your head, but your eyes gloss over. The discussion ends and you wonder what you just had a conversation about. Finance-speak can be confusing […]
POSTED BY PETER WOUTERS Some rules of thumb and long held assumptions may work well while you are saving for retirement. Holding on to them when you are spending those savings during retirement, may become toxic to your financial health. The myth is that you’ll have enough money to last through retirement as long as the […]
Two great investment options with distinct differences. Many investors have heard about mutual funds and the wealth potential they have as an investment. Fewer know about segregated fund solutions (seg funds) and their unique features and advantages. Like mutual funds, seg funds are pooled investments. They combine the money of many investors, creating economies of […]
A systematic investing plan provides discipline and the potential for better returns. Investors who watch the markets closely can get dizzy tracking all the ups and downs – and, as prices fluctuate, often unpredictably, it can be hard to stay focused on long-term plans. When markets drop, it can be very difficult to fight the […]
How much is enough? Books have been written on the subject of retirement and what you need to save. Myths abound on this question. Here’s one to consider: I need $500K, $1M, $2M to retire. Retirement myth #3: I need $500,000, $1 Million, $2 Million to retire. The fact is that your “number” can vary greatly […]
It’s surprising, even shocking, that with all of the attention devoted to an aging society and the need to save for retirement, that so few people are inspired to get started; and then save so little. Many do have a doom and gloom attitude about retirement. Myths aren’t helping matters. Retirement myth #2: I’ll never […]
Due to COVID 19 the RRIF minimum withdrawal has been modified down. See the 2020 rates at the end of this article Age 2020 RRIF Factors 55 2.15% 56 2.21% 57 2.27% 58 2.35% 59 2.42% 60 2.50% 61 2.59% 62 2.68% 63 2.78% 64 2.89% Age 2020 RRIF Factors 65 3.00% 66 3.13% 67 […]
Is it worth compromising your lifestyle today for a richer life in the future? Many people share the same concerns about retirement planning – the volatility of the markets, longer life expectancies, not having enough to live comfortably in the future, and so on. With all these in mind, where can you find the extra […]
It’s happened. Your child has flown the nest and has settled in a college or university. With this increased independence, you may want to teach your child about finances by alerting them to a couple of key danger areas in managing money: spending more than they can afford and abusing credit cards. Keep a budget […]
The following graph shows the rolling returns (returns over X consecutive years) for 1, 5, 10 and 20 years. The green lines are positive returns and the red are negative returns. Each consecutive line shows more green lines and fewer red lines thus showing that the longer you stayed invested, the better chance of positive […]
How to support their care for a lifetime. Most families are concerned about planning for their children’s financial futures, but for families with special needs children, financial planning strategies have a different and often more complex dimension. The cost of supporting an individual with special needs adds up quickly – from therapies, medical equipment and special […]
Taxes may be inescapable, but your choice of investments can have a huge impact on how much tax you pay. It all depends on your personal situation and how you structure your investment portfolio. 3 types of investment income and how they work A basic investment portfolio can generate three types of income: Interest income. […]
Do some financial cleaning with our one-month challenge. WITH PLENTY OF PRIORITIES COMPETING FOR OUR ATTENTION, money matters can sometimes be pushed to the back of the shelf. But, just like an annual decluttering at home, getting our financial house in order can make a big difference to daily life. Make a commitment to take […]
Summer is upon us, which means spending longer days in the sun and enjoying your cottage with your family and friends. This is also the time that you may start thinking about the future of your cottage and your plans to pass it down your family. If you have decided to bequeath your vacation property […]
POSTED BY PETER WOUTERS of Empire Life A common piece of advice for investors is that long term success doesn’t hinge on timing the market. It’s time in the market that may make the bigger difference. Most investors aren’t professionals. Accredited investment specialists devote their education, training, time and resources to studying the markets and individual companies. […]
The opinion of retirees and older workers alike is that millennials may have a better chance to control their future when it comes to saving money for their future lifestyles. Let’s take a closer look at that and consider the millennial perspective. The Future of Retirement: Generations and Journeys research (2016) identified a number of […]