This will be my last blog post until the new year. I wish all readers a sense of joy in this season of celebration. Merry Christmas and Happy New Year! There are two accounts that I think are worth considering for 2024 if you have not...
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The Dawning Realization Siblings Jane and Mike are facing an unwelcome disruption to their routine lives in the form of their elderly parents facing health challenges and financial uncertainties. The emotional impact of this revelation was profound. The equilibrium of their daily lives was upset as they...
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A couple we’ll call David and Marie are on the verge of age 65. They managed to pay off their mortgage back in 2008, but they haven’t saved much of anything since. Neither had employers who provided pensions or group Registered Retirement Savings Plans (RRSPs)....
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For years, I was an avid subscriber to the old print version of MoneySense magazine. Like many other print periodicals, however, it went exclusively online several years ago. One of the most fascinating articles I read during the print era was The All-Canadian Wealth Test,...
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Last week, in my 224th blog post, I introduced Gregory (Greg) and Olivia, a young married couple who had bought a house in the Greater Toronto Area (GTA). They considered two common ways to reduce the interest they would pay over the life of their...
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The Current Situation A young married couple, Gregory and Olivia, live in the Greater Toronto Area (GTA). They bought a home two years ago for $1 million. With a 20% down payment, they borrowed $800,000 to enable the house purchase. The terms of the mortgage are as...
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Meet Emma and Roy, a couple from Winnipeg eagerly counting down the days to their retirement, just five years away. Aware of the importance of careful financial planning, they decide to engage an advice-only financial planner to support their transition into their “golden years.” Step 1:...
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After going grocery shopping on the weekend and not buying a single thing that was on sale – I hope my wife doesn’t read this! – I decided it was time for me to dig into a smarter approach to buying food as one of...
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There is a lot to be said in favour of Do-It-Yourself (DIY) investing. The barriers (online access, real-time quotes, lower costs, etc.) have come down dramatically in recent years. Simultaneously, I would argue, the fact that there are fewer barriers means that the DIYer has...
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The Dilemma: What Should She Do with Her Money? Marie, 67 years old, was widowed three years ago after forty years of marriage. Together, she and her husband Robert had raised their family of three children and created thousands of memories together in the house that...
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