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Private Pensions, RRSPs and Retiring – Demystified
Thank you to one of my readers for writing in and asking about retirement accounts and pensions. This whole subject is very complex and one that I don’t tend to focus on given how far away retirement is for my wife and I. However, this is an important topic for many of my readers so its an area I should improve upon. So to increase my own knowledge and yours, lets take a look at retirement saving ...
Why You Shouldn’t Contribute To Your RRSP – 2 Critical Factors
RRSP season is here again and the banks are stepping up their marketing campaigns to encourage you to contribute.
Just to be clear, saving for retirement is of vital importance for everyone who wants to maintain a comfortable lifestyle as the years wind on. While contributing to an RRSP is a great thing to do, many members of the younger generation don’t take into consideration 2 very key issues, ...
Series: How to Travel Long Term and Experience the World – Starting to save
We’re now on the 4th installment of this series, I hope you are enjoying it so far!
This next post will cover how to save the many thousands of dollars you’ll need for your career break adventure. To get the conversation started, here is a table that will simplify the discussion.
Income
Gross
$40,000
$50,000
$60,000
$70,000
$80,000
$90,000
$100,000
Net
$34,038
$41,113
$47,998
$54,860
$61,514
$67,429
$73,088
Less ...
Welcome to 2013! Time to think about your accomplishments and goals for the future
Happy new year and welcome to 2013! I hope everyone is rested and content after the holidays. A new year brings new ideas, opportunities and challenges!
I don’t know about you, but I really enjoy the articles and TV shows that recap the events of the year. By the time we get to November or December, we forget what happened at the beginning of the year! Do yourself a favor and reflect back on your ...
Understanding Pensions By Example – Start Young, Don’t Wait For The Gray Hair!
Imagine this: You are a young professional without a care in the world talking to a group of people approaching retirement age. One of them mentions the word “pension” and your eyes immediately glaze over and your attention shifts elsewhere.
For young people, the word “pension” has just about the same appeal as “retirement”, “arthritis” or “cataracts”. Many people in their 20s and ...
6 Steps To Help Fight Lifestyle Inflation
So you just got a new job and more money will soon be rolling in, congratulations!
This is an exciting time filled with all the new possibilities that a higher income brings. It might be time to replace an old car, buy a bigger house or take a much needed vacation. Making more money doesn’t necessarily lead to more wealth however. When more money starts rolling in, sometimes we just end up buying ...
What Is An RRSP?
When we are young, footloose and fancy free, thinking about retirement is the last thing on our minds! Unfortunately retirement planning is a reality and it’s better to be proactive and start early. The government encourages everyone to save for their later years by giving them tax incentives.
Every year Canadians are bombarded by our employers and banks to contribute to our Registered Retirement ...
Beginning To Invest – Options and Factors
With most of the basics under our belt like dealing with debt and interest rates lets start discussing investing. To set the record straight, there are many investment options available to us. An investment is anything that will go up in value as time goes on. I’ll discuss many of them in future posts.
Investment Options
Real Estate
A Business
Equities (stocks)
Bonds (corporate, government)
Guaranteed ...
The Basics – Part 1 – Debt
As I mentioned in my first post, this blog is about more than just investing. Before one can invest, one needs money to invest with! This series of posts will start with the basics and eventually cover more complex topics.
To start at the beginning, and I mean the beginng, lets look at money over a person’s lifetime. When we are young we have no income and no debt, life is great! As we get older, ...
