Posts by Boomer
Scholarships Can Pay For Expensive Education Costs
With the cost of post-secondary school education rising astronomically each year, it makes sense to pursue every avenue of financial aid. Yes, you’ve been saving in an RESP and there are student loans available, but don’t overlook scholarships, grants and bursaries. Millions of dollars are unclaimed each year because students don’t realize they exist. Scholarships are…
Read MoreFinancial Management By The Decade – The 50’s
Welcome to age 50. Are you prepared? Turning 50 is a milestone for many reasons. Children are grown, the big debts such as saving for university and the mortgage, should be making less of a dent, and you are reaching your peak earning years. You now realize that your target retirement age is in sight,…
Read MoreDIY Investing: How Successful Are You?
Many of our readers are DIY investors and, with the multitude of financial blogs and online information available, there is obviously a huge growing interest in managing your own investment portfolios. Investment do-it-yourselfers generally fall into two categories: Investors aiming to reduce fees. Over the last several years the media reports of high and hidden…
Read More16 Financial Habits For A Prosperous New Year
A Fidelity Investments study discovered that setting specific financial goals does help get your fiscal house in order. 56% of those surveyed said their finances had improved, a much better result than most New Year’s resolutions. Give yourself a financial checkup and see where you can improve your saving and spending habits. Here are 16…
Read MoreHow Much Do You Really Need To Retire?
I’ve given you the challenge of thinking about what sort of retirement lifestyle you want to have. You’ve also determined, as well as you can, what income you may be likely to receive when you retire. It’s quite frustrating to try to figure out how much money you will need for your desired retirement. How…
Read MoreThrowback Thursday: Toys That Have Stood The Test Of Time
Christmas is obviously the biggest season for toy sales. If you wander through the toy aisles you’ll see electronic toys, figures based on current TV shows and movies, and remakes of favourites of past generations. We like to buy our kids toys that we enjoyed when we were younger and there are some toys that…
Read MoreFinancial Management By The Decade: The 40’s
Your forties are a good time to check out how you are doing financially. Many people find that they are finally getting some results. Salaries are likely to be higher, you are making some headway in decreasing your mortgage, and the kids may be at the age where they are not as financially draining as…
Read MoreEasy As ABC? Understanding Different Mutual Fund Classes
Mutual funds have been a popular investment vehicle for a long time. There are currently over 5,000 mutual funds available in Canada and, according to the latest figures from The Investment Funds Institute of Canada, 33% of Canadian households are invested in them. Mutual funds are offered in different series or classes, which are identified by…
Read MoreAn Expensive Degree Landed A Better Career: A Boomer & Echo Financial Makeover
James Turik, 38, owns a sparsely furnished, two-bedroom condo unit in a trendy downtown neighbourhood. He plundered his RRSP as well as his other savings for the down payment. “Now that things are freeing up,” James says, referring to his healthier financial situation, “obviously, I have to start putting money away again.” After working in…
Read MoreThe Real Cost Of Bad Habits
This is the time of year when people take stock of their lives and vow to start the new year with a change of habits: stop smoking, exercise, eat better, take care of finances. And yet the majority will fail to keep up with the changes within the first month. Bad habits have both a…
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