Imagine owning a machine that creates money and provides you with an income forever. This machine would be perfectly legal. I’m not talking about printing counterfeit money or stealing. The trick is to save enough money to allow you to live off the money it can earn. Money Earns Money You see, the greatest miracle…
When it comes to managing our finances, it’s easy to get caught up in the day-to-day expenses and forget to look at the bigger picture. But here’s a thought-provoking question: What changes can you make today that will have a lasting effect on your financial situation? Let’s explore practical steps to set long-term financial goals…
Albert Einstein was fascinated with the motion of objects and had a famous saying “all motion is relative to your frame of reference”. What exactly does that mean? Well, the way you interpret the movement of an object is based on where you are viewing it from. So, for example, several people may observe a…
Is there a simple idiot proof way to invest for the long term without knowing anything about investing? I say yes. The Process So how did I simplify the process? With literally thousands of stock offerings to choose from and multiple markets the possibilities are overwhelming. I use the Toronto Stock Exchange (TSE), the main…
In Canada there are several varieties of pension plans and all have the same goal to help you fund a long and secure retirement. Pension plans fall into two main categories: government and private plans. Canadian Pension Plan If you have worked in Canada you most likely have contributed to the Canada Pension Plan (CPP)….
What is an investment account and how can it help you save for the future? An investment account is an online platform that links you to the stock markets, usually through a bank or similar financial institution. Your bank accounts will be linked to the investment account. Setting up the account requires enrolling with a…
I’m seeing a new trend these days that I believe is misleading and dangerous. With the popularity of artificial intelligence there are people promoting stock trading programs with advanced algorithms they claim will deliver superior market performance. Are They Wonder Programs? These wonder programs analyse a multitude of stock performance indicators to determine optimum buy…
Financial experts define a recession as a sustained drop in economic activity that lasts more than a few months. Many financial gurus are predicting a recession or significant downturn in the economy within the next two years. Are you prepared to survive this financial storm? In the face of economic downturns, surviving a recession requires…
Somethings Gotta Give Looking at the current situation in the United States we see an interesting concept called the debt ceiling. The debt ceiling is the maximum amount of money that the United States can borrow cumulatively by issuing bonds. If the U.S. government can’t meet the interest payment obligations to bondholders the United States…
As we say goodbye to 2023, let’s gear up for a financially savvy 2024. From mastering spending habits to fostering a generous mindset, these tips are designed to pave the way for a prosperous and stable financial future. Smart Spending, Complete Payment Work to adopt a disciplined spending approach. Ensure each expense is fully paid…