Retirement planning is all about making sure your savings will last for the rest of your life. Two key strategies often discussed are the seven percent rule and the four percent rule. These rules are designed to help you figure out how much money you can withdraw from your savings each year without running out … Read more
Living paycheque to paycheque can be stressful. It feels like you’re constantly running in place, always one step away from financial disaster. But you don’t have to live that way! You can take control of your finances and break the cycle. All you need is a plan and a bit of determination. This guide will … Read more
There’s an old story that illustrates a very important lesson about managing your money. It goes like this: A financial advisor, eager to gain a prospective client’s trust, takes the client on a tour of an exclusive yacht club. The advisor points out all the luxury sailboats owned by fellow financial advisors, fund managers, and … Read more
Social Boundaries Money has a way of breaking people into classes and throughout history we have always had a class system in our society. In our modern society we often talk about where the majority of people spend their lives – the middle class. This is merely the middle ground between two extremes; the poor … Read more
In today’s world, the temptation to indulge in the “have it all now” culture is strong. However, the inevitability of aging, job loss, or retirement may drastically alter one’s lifestyle. I can’t emphasize too much the importance of securing your future through retirement savings. The Good Life Comes at a Cost These days with the … Read more
Cat And Mouse Games The schemes described in this story may seem far-fetched but they are actually very common. The most popular one is called an annuity. Annuity Simply put, an annuity is a contract between you and a financial institution (usually, but not always, a life insurance company). The issuer accepts and invests funds … Read more
It’s early January and I’m seeing a blitz of commercials promoting low fee investing services. The timing of these ads is no coincidence as people are fresh into New Year’s Resolutions and wanting to ensure a better future. So is all this hype about reducing investing fees really true? Do those higher fees make a … Read more
Imagine a simple world where we don’t have to worry about our future. We work our entire lives and the government simply sets a magical age for retirement. We get loads of pension money as our reward. While this is a novel idea, it doesn’t sit well with our leaders for many reasons. Costly Idea! … Read more
There’s an old joke about the drunken sailor who was asked if he had a financial plan. Well, sure he said “I spend a third of my money on women, a third on drinking and the other third I spend foolishly”. While it’s meant to be a joke, unfortunately it describes how many people are … Read more
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 … Read more
