Before a skyscraper can reach for the clouds, it needs a very strong foundation. Once the building is complete, the foundation is virtually unseen. The same goes for our financial strategies. Following are the basics of a strong financial foundation: Budget – Governments and businesses use budgets to properly allocate

History tells us about half of marriages in Canada end in divorce. Andrew and Sara are about to end theirs and are concerned about the changes that will have to be made to their financial and estate plans. Some financial and estate issues they need to consider are: Life Insurance

There are things you need to live a healthy life, like a place to live and food to eat. There are also things that you’d like, such as a warm vacation or new ski boots. It’s possible to have it all, but not all at once. If you can’t afford

Financial success methodologies have evolved over the past 30 years with the advent of increasing computational power. Originally, planning was a simple spreadsheet projection of your current situation, plus some assumptions, such as savings rates, tax rates, investment returns and inflation rates. This would give you an idea of what

The purpose of this series is to educate consumers on some simple principles that will take the mystery out of the often complex world of managing one’s financial affairs. The first distinction is to realize there are only seven key variables that can be managed in creating your financial future

The neighbors have a shiny new sport utility vehicle to tow their travel trailer. They take a two-week tropical vacation every winter. Their family room is equipped with the latest large screen TV and surround sound stereo system. Many people believe this is a sign of wealth. In fact, this

Some financial decisions are made without enough thought given to the long term consequences. TIME – a critical element for any successful long-term financial strategy – can affect different situations quite dramatically. Here are some financial mistakes you should try to avoid: Mortgage amortized too long: With lenders offering 30

These days, having a career presents many more new rewards and challenges than it ever used to. What we used to take for granted – including our work location – can sometimes change dramatically as companies continue to change and adapt to new economic situations.   This can be great

Many of us reflect on our yearly financial goals as the calendar turns to a New Year. But bringing goals to fruition can’t happen without a clear plan of action and determined effort.   This is especially true as we continue to live with lingering effects of above-average inflation and

November is financial literacy month – a great time to reflect on your relationship with money and the decisions you make that guide you toward a secure future.   Financial literacy is a set of five key skills that help Canadians navigate the complex world of personal finance with clarity,

As the recent pandemic crisis made its way around the world, creating havoc in its wake, we can be thankful most Canadians were able to weather the storm in fairly good financial shape. Now Canadians are mostly concerned about spike in the interest rates and how that will impact their

Now may be the perfect time to teach your children about financial independence. There are plenty of real-life examples in the media of how not to manage your finances. To really teach children money management skills, they must learn to handle money personally and to make consequential decisions on how

The hits keep coming! With the recently concluded Federal election essentially changing nothing in Ottawa, there is little doubt that annual spending deficits will probably continue to reach new levels. Along with this renewed deficit spending Canadians can expect to see higher consumer prices as various economic disruptions continue to

The key financial planning lesson that Covid-19 has taught us all, is that no matter how many planning scenarios a person considers, it is extremely difficult to get it perfectly right!   Covid has impacted Canadians’ ability to hold, build and keep cash reserves. For many, it has affected their

Many commentators are expecting increased inflation in the coming months as Central Banks globally have ramped up their money creation efforts in response to the increased market volatility last March. There are different types of inflation, but most people have experienced price inflation, whereby excess demand is met by rising

The holiday season is a time for connection and giving, but it can also be costly. According to PwC Canada’s 2019 Holiday Outlook report1, Canadians spent an average of $1593 on holiday shopping last year. As this year’s present buying season begins, here are some helpful tips that could help