Better financial management is needed in Ontario
There is a level of hypocrisy on how our Ontario government implements financial management, writes Peter Watson. On a positive note, starting next year Ontario students must achieve 70 per cent on a financial literacy test as a requirement to graduate from high school. Education Minister Stephen Lecce said one of the skills taught will […]
Financial Mistakes Should be Corrected
Correcting financial mistakes can help you achieve your financial objectives, writes Peter Watson. Everyone makes mistakes. That is normal, so consider that a characteristic of being human. Correcting mistakes does not always happen. We will consider this reality in the context of your personal financial planning. Long-term financial success can be achieved with a series […]
Was 2023 a Good Year to Sell Your Stocks?
Investors sold stocks in 2023 and missed out on significant gains, writes Peter Watson. Should you have sold your stock holdings last year? Consider significant world events because many investors use that information as an indicator of how to invest. If bad news is a reason to get out of stocks, we had plenty of […]
Mortgage Payments Are Becoming Challenging
The most significant challenge for some over the next few years is making their mortgage payments, writes Peter Watson. Many have already experienced the effect of higher interest rates. The lucky ones have locked in a specific mortgage rate that has not come due, but that day is coming. There are several realities to homeownership. […]
Why paying off your mortgage is a smart move
It’s time to pay off your mortgage, writes Peter Watson. For many years historic low interest rates encouraged people to borrow. Those days have passed. Depending on your mortgage details, your interest rate has already increased or likely will soon. Paying off your mortgage is a good idea, especially before you retire. During retirement your […]
Summer Travel Spending is Down
It is no surprise that Canadians plan to spend less money travelling this summer, writes Peter Watson. One of results of the Bank of Canada aggressively increasing interest rates over the last two years is to force people to spend less money. Plus, because of inflation, most things cost more so there is less money […]
Canada’s Financial “Tug of War”
The Bank of Canada and Canadian Parliament have conflicting strategies to manage our economy, writes Peter Watson. There is a financial tug-of-war that occurs when managing the Canadian economy. Covid invaded North America and economic activity in many areas came to a screeching halt or at least slowed down. We were at a financial breaking […]
Investing for the Long Term Can Bring Success
Two important ingredients to successful investing are patience and taking a long-term perspective, writes Peter Watson. One of the most important attributes to successful investing can be found in what you don’t do. Unfortunately, this flies in the face of how humans are programmed. We are taught from a young age to be proactive. When […]
Canadians Worry About Personal Finances
People worry about retirement and investments, writes Peter Watson. Canadians are concerned about their ability to fund retirement and they have negative feelings towards their investments. There are many reasons creating this pessimism, including Covid, higher interest rates, and everything seems to be more expensive. Plus, personal debt levels continue to rise. According to a […]
Bad Year for Bonds in 2022
There are a few fundamental guidelines we recommend people use when developing their investment portfolio, writes Peter Watson. It starts with diversification: a combination of stocks and bonds. Stocks usually have a higher expected rate of return that can help your portfolio grow. Bonds usually have a lower expected rate of return, but they provide […]
