It may be easier to stick to your financial goals if you have a strong investment philosophy in place.
Institutional investors expected another economic pullback after a new covid variant was discovered in South Africa.
Managing your cash flow has become critical since this Covid crisis emerged. Most have lost or have reduced income. To meet this historic challenge the governments have legislated emergency financial assistance for those unemployed after the business stoppage. Before requesting an early distribution from your retirement savings or using financial support for continuing expenditures as usual, it is a time to look at your spending patterns and habits. Zero-based budgeting is a good discipline. Scrutinize...
If you’re a beginning investor, it’s likely you’re concentrating on building your portfolio. But as important as it is to build that portfolio, you should also ensure that it’s diversified. Why is a diversified portfolio so important? There are three key reasons why diversifying is important: A diversified portfolio helps minimize risk. Stocks can be a risky investment at any time, but with a diversified portfolio, you can help minimize the risk by spreading that...
*This content is developed from sources believed to be providing accurate information. The information provided is not written or intended as tax or legal advice and may not be relied on for purposes of avoiding any Federal tax penalties. Individuals are encouraged to seek advice from their own tax or legal counsel. Individuals involved in the estate planning process should work with an estate planning team, including their own personal legal or tax counsel. Neither...
Dementia is a disease that comes to affect every aspect of a person's life. It refers to a set of symptoms that may include memory loss and difficulties with thinking, problem solving or language and sensory imapirments. There can be changes in mood or behaviour and the disease can exacerbate the effects of physical impairments. All types of dementia are progressive and each person will experience dementia in their own way. There are well documented...
Many people, who have achieved success and wealth through their business, have done so with their intellectual capital. What exactly is intellectual capital? This is the sum of the business’ hidden assets, such as its human resources, knowledge, intellectual property, and all of the client and stakeholder relationships that bring immeasurable value to the company. In essence it is your “secret sauce,” which gives your business its competitive edge. When the recipe is lost or...
Until recently, many retirees have been able to rely upon the three-legged stool of retirement income sources: a defined benefit pension plan that guarantees a lifetime income, their own savings, and the Canada Pension Plan. Within the last couple of decades, the first leg of the stool has all but disappeared as many defined benefit plans have been replaced with defined contribution plans such as an RRSP. This has shifted the responsibility for creating a...
You may have heard statistics or evidence that multitasking can actually make people less efficient. Actually, in many cases that’s true. Generally speaking, multitasking decreases the level of knowledge and understanding in a given task; and, sometimes it can lead to doing many things but not really accomplishing anything. Before you get discouraged, however, think about this: what if the people studied in these statistics and data were just doing it wrong? Perhaps the outcome...
Money is just one of those things that sometimes brings people as much pain as it does pleasure. As the economy in an up cycle of the recession, things are looking better but just the thought and uncertainty of an unstable economy is often enough to bring the fear back into people’s minds The first step to managing financial stress is to identifying what is beyond your control. For most of us, a few things...
Choosing a financial advisor is tough. There are generally a lot of options so how do you differentiate the crème de la créme of advisors who you can really trust to manage your hard-earned money? Why don’t you test drive a few models before you make a final purchase? Most financial advisors offer a “free consultation” or some kind of ‘getting-to-know-you’ meeting where you can ask some questions before you commit. If you only ask...