Posts by Boomer
Spend Less Or Earn More?
It’s been said that it’s a lot easier to spend less money than it is to earn more money because it does not take as much effort. But is this really true? It does take some time and effort to do such money-saving tasks as preparing a meal plan, grocery shopping from a detailed list,…
Read MoreFinancial Management By The Decade – The 30’s
When you get to your 30’s, trying to balance your finances can become overwhelming. Most people find themselves juggling responsibilities of buying a home, mortgage payments, paying for a wedding, starting a family, and somehow trying to save for retirement. You are still early in your career with growing demands at work, and the money…
Read MoreDetermining Your Asset Allocation
Before you begin choosing your individual investments you need to consider your asset allocation. Asset allocation is your portfolio’s blend of stocks, bonds and cash. Finding the best asset mix is crucial if you want to meet your goals. Rules of thumb A typical balanced asset allocation is 40% fixed income and 60% equities. A…
Read MoreFinancial Assessment For Your Retirement
If you have been following this series – and doing your homework – you should now have: Done some serious thinking and reflecting on what you want your retirement to look like. Where will you live? What kinds of activities will you participate in? What’s on your “Bucket List?” When will you begin? Have a…
Read MoreThe Real Cost Of Investing
Arnold and Zelda consider themselves to be good investors. Arnold has all of his wealth in bank GICs, a choice he knows and feels comfortable with. He bemoans the low returns – under 2% – that he is currently receiving, but he’s heard too many horror stories of stock market investing. As a result, Arnold may…
Read MoreStarting Over After Divorce: A Boomer & Echo Financial Makeover
Jackie Caine (42), a newly single mother of two pre-teen children, is struggling to cut costs and pay her bills after the collapse of her 18-year marriage. She had always managed the bills, mortgage payments and shopping previously, but did so without actually giving money much thought. Their combined income was always enough, and payments…
Read MoreHow Much Choice Is Too Much?
So, I’m standing glassy-eyed in front of a six-foot wall of toothbrushes at my local supermarket. “Can you pick up a new toothbrush for me?” my husband requested. I naively thought I’d just pick up a soft-bristle brush in a not-too-girly colour, and be on my way. Did you know there are more than a…
Read MoreFinancial Management By The Decade: The 20’s
Your twenties are exciting years, full of big changes and all kinds of opportunities – finishing university or college, starting a full-time job, seeing a regular paycheque for the first time. Maybe you’re moving into your own place. Or, perhaps you’ve been working for a while and you’re ready to start setting some financial goals.…
Read MoreThe Real Cost Of Starting A Family
Having a child is a life-changing event that few of us can ever truly be prepared for. The enormous responsibility of having a little one completely and solely dependent upon you, as well as the absolute joy this little being will bring, can be overwhelming. You can plan as much as you want, but most…
Read MoreHow Canadians Spend Their Money
We all like to compare ourselves with others when it comes to our financial affairs to see how we are doing. The most recent Statistics Canada compilation of how Canadians spend their money shows an average spending pattern. Figures are from 2013 – so a bit dated considering economics in the past year – but…
Read More