It was a typical Saturday morning at the local diner, where Lee, John, Dave, and Bob gathered for their usual breakfast and discussion about investments and the economy. This weekend, the hot topic was the recent decision by the Bank of Canada to reduce the...
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FPAC Pro Bono Planning I am a member of the Financial Planning Association of Canada™ (FPAC). Our mission is to build the practice of financial planning into a principled and client-centred profession. Among FPAC’s activities, such as advocacy before governments and regulators (I am a member...
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When we think of managing risk, we usually think about insurance. We buy life insurance to protect our family against the risk of premature death. We buy disability insurance to protect ourselves against the risk of a lengthy loss of income due to a disability....
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It is no secret that a significant part of the Canadian population is finding it exceedingly difficult to make ends meet. Debt is extremely high per household, primarily as a consequence of large mortgages and more recently, high interest rates. While inflation is slowly diminishing,...
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There are compelling reasons to invest in equities over the long term. So much so that academics in the field of finance will tell you that the traditional strategy of investors shifting an increasing balance of their assets to fixed income as they approach retirement...
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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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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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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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