Financial Fire Drill: Be Prepared
One the most significant risks of investing is letting your emotions push you into panic selling. That unfortunately happens and can be financially harmful. Another risk we face in life is fire. For that we may be prepared because of practicing a fire drill. A few simple rules to follow. Do not panic. Have a […]
Health and Wealth is Under Siege
Two of the most important aspects of life have collapsed in front of our very eyes: health and wealth. We need our health to live our life and our wealth pays the bills. Last March, with a hint of things to come, COVID-19 took a stranglehold on North America. We have not experienced that type […]
Politicians, Get Ready for a Fight
To be a federal politician now could be the best of times, or the worst of times. Our leaders have some turbulent waters to navigate in the aftermath of COVID-19. The first order of business will be to restart our economy. That will require spending in the magnitude not seen in our history. Then the […]
The Stock Market on Steroids
The stock market hit a speed bump recently. A large number of small individuals inspired by social media pounced on a speculative stock in part to combine their collective force to defeat some Wall Street mega money managers. The wealthy pros were betting against a speculative stock called GameStop. As a result of a social […]
Lessons Learned from the Past
Use fundamental financial planning ideas to help you achieve your long-term objectives, writes Peter Watson. A friend gave me the synopsis of the book she was reading. The irony was the main ideas of this book published in the early 1960s were the same fundamental ideas of a course she had just completed. That made […]
Ontario University in Financial Trouble
Many organizations are enduring financial hardship because of COVID-19. Many will have to adjust to post-pandemic times, and this could include ceasing to exist. Laurentian University just filed for credit protection. The reasons for this action are not likely unique to this institution. The hard reality of any organization is in order to keep the […]
Creative Thinking can Lead to Business Success
Problem-solving to consider different ways of conducting business can be profitable, writes Peter Watson. Creative thinking is alive and well with some entrepreneurs. Two different stories but remarkably similar. Both are about a tech start-up working on a new app. One characteristic of many start-ups is they are low on cash. Yet they need a […]
The Dangers of Your House Mortgage
Low mortgage interest rates make home ownership affordable. When mortgage rates increase many homeowners will not be able to make the payments after their mortgage is renewed. The mortgage on your house might be your most significant financial risk. Normally when you acquire an asset, including a house or an investment, you hope for a […]
Alberta Lost, The Environment Won
Alberta’s major pipeline cancellation is a blow to their oil heavy economy. There is a global shift towards sustainability and protecting Earth’s fragile environment. A few hours after his inauguration, U.S. President Joe Biden cancelled the controversial Keystone XL pipeline. The pipeline was designed to transport 830,000 barrels of crude a day from Alberta to […]
How Long is Your Runway?
The amount of money you need to retire depends on the cost of your lifestyle, the expense of aging, and how long will you live. How much money will I need to retire? This is the most frequently asked question in many financial planning conversations. The answer depends on two factors. How long will you […]