A coffee drinker could become a millionaire
An incremental savings plan is one where you reduce, or get rid of, a recurring expense. This is how a coffee drinker could become a millionaire. It is quite easy. All it takes to understand this concept is a little arithmetic. In financial planning we spend a lot of time talking about savings. In order […]
Young adult children living at home longer
Why do young adult children still live at home? Their parents often recall how they left home at an early age and now seem somewhat perplexed at why this is no longer the case. Has this generation become soft and unable to survive on their own in the real world? According to the 2016 census, […]
Reflect on the future with 2018 New Year’s resolutions
Making New Year’s resolutions can be a learning experience for us all. It provides an opportunity to reflect on our future and our priorities. My theme this year is governance. How do we manage our financial planning goals? And how do our actions affect those we love? Consider all aspects of your financial life and […]
Millennials’ financial priorities
Recently the Bank of Montreal published a report titled Generation Why! concerning the financial and nonfinancial issues faced by Millennials — the demographic currently in their 20s and 30s, formerly known as “Generation Y”. This age group arrived in their adult years as our country became more comfortable with debt, particularly because of the recent […]
New Year’s resolutions… It’s that time of year again
Start this New Year by making some financial resolutions. Think about what is important to you and then spend some time deciding ways to advance your financial circumstances. The following resolutions are my top four recommendations to consider for 2017. One. Save. All good financial plans include a savings target. Large purchases made in […]
Advice from retirees to younger generation – start saving early
How much money will you need every year to support your future retirement? That is the “million dollar” question. Many find it difficult to make ends meet and to budget their spending while they have a regular paycheck. Once their income stops, planning becomes much more difficult. Last week an Ipsos poll conducted for Sun […]
