Understanding the Time Value of Money

Managing our personal finances involves a few mathematical calculations. When we buy a Guaranteed Investment Certificate (GIC), we are told, for example, that we will receive 5% per year, compounded over five years. If we deposit $5,000 into that GIC, how much will we receive?...

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Are You Financially Literate?

Each year the month of November is designated as Financial Literacy Month. I like to think that each blog post that I write adds to the financial literacy of my readers, but there is something to be said for a special focus on bringing up...

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When can I retire?

An Introduction to Retirement Planning – Part 1 In the middle of this extraordinary COVID-19 pandemic, many of us may feel like we have been forcibly retired. Our governments have shut down large swaths of the economy in order to enable the physical distancing that, we...

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