Back to Basics
What problems does the financial industry solve for Canadian consumers? Where is the value added for interacting with the financial industry and why use an Advisor versus doing it yourself online? To address these questions, here is a refresher on why the financial industry exists in the first place. Simply speaking, there are […]
Remember Me!
With spring just around the corner, many Canadians have young people in their lives who are graduating from university, professional schools or community colleges. When the excitement of Commencement wears off, they are faced with the challenge of finding their first full-time paid jobs. The following are a couple of ideas from a book […]
‘Just-In-Time’ Living
Multiple media reports note that almost 50% of Canadians have no emergency savings and are unable to cover the cost of an unexpected expense of $500 – $1000, let alone deal with an unexpected job loss. Other reports from credit agencies such as Equifax state that even a 0.25% increase in mortgage rates will cause […]
Saving for a Financial Emergency
It is next to impossible to know when you might be impacted by a financial emergency; therefore, it is important to be prepared for something unforeseen in the future. Most people have heard the saying about saving money for a “rainy day”. With the right forward planning, there is a great chance of being able […]
The Predicament of Sudden Wealth
Imagine one of the following scenarios. Suppose you have suddenly come into a significant sum of money. For the interest of this example, we will imagine that it is one million dollars. This might have come to you by way of a lottery win, an estate inherited after the death of a family member, or […]
The Advice Dilemma
A constant dilemma for Advisors working with clients to help them realize their goals and dreams is striking a balance between the tyranny of immediate current events with the need to stay focused on your longer term goals. The recent Brexit vote in the U.K. is a case in point. The media created a […]
The Question That Is Rarely Asked
After speaking with many clients and potential clients over the years, a pattern emerges in the direction that the interview takes. There is often a sense of give and take with the client wanting to get certain questions answered in their mind, giving out small bits of information, but withholding the rest as if to […]
Assessing Your Debt
Many consumers find themselves falling into the traps offered by the appeal of easy credit opportunities. They are dazzled by payment plans for tech purchases, zero-percent loans on major purchases, credit card-funded vacations to faraway locations, and blowout sales that tout incredibly long delays before any payments are due. Before long, the spending spree turns […]
Money Saving Mortgage Strategies
Mortgages today are not like they were when our parents or grandparents bought their homes. As most of us don’t have the cash to buy a home outright, we need to borrow from a lender. There are a number of strategies you can use to get the best deal, pay it off more quickly and […]
Financial Future Worries?
If you are concerned about your future finances, you are certainly not alone as noted in a global survey of 19,000 adult in over 19 countries (including Canada). Nearly 68% (or two thirds) of the 1000 Canadians interviewed in the survey conducted by the Financial Planning Standards Council (FPSC) said they still had concerns […]