Posts by Boomer
Financial Planning For Couples: Protecting What You Have
Insurance is one of those expenses we all hate to pay for, but we are very glad we have it if we ever have to make a claim. Auto insurance is a necessity for all drivers and if you have a mortgage on your house, home owner’s insurance is a requirement by your lender. All…
Read MoreDo You Live Next Door To A Millionaire? Or Is It You?
Two decades ago, Thomas Stanley and William Danko set out to interview wealthy people for their best-selling book The Millionaire Next Door. They started out in the affluent neighbourhoods on streets dotted with extravagant homes with luxury vehicles parked out front and in-ground swimming pools in the backyards. They were shocked to find out that the…
Read More5 Ways To Stretch Your Retirement Dollars
The latest StatsCanada income trend shows that 6.2% of seniors living in a family, and 28.5% of those living alone are classified as low income. Okay, these 2012 figures are somewhat dated, but there is no denying that many retirees are living paycheque to paycheque. For those with little savings and no company pension and…
Read MoreRevisiting The Tax Free Savings Account
In 2008, then Federal Finance Minister Jim Flaherty introduced the Tax Free Savings Account. “We already have a retirement plan. This is a savings plan for everything else,” he explained. Perhaps that comment, as well as the name of the plan (not to mention the heavy advertising by banks), is the reason that most people…
Read MoreThe 50-20-30 Approach To Budgeting
Someone who is just starting out in life, or a beginning budgeter, may wonder how they should be allocating their money. Here is a general rule of thumb to consider when budgeting. Where should my money be going? Begin by recording your net income and your expenses, and track your spending. Then divide your expenses…
Read MoreFrom The Boomer & Echo Mailbag: Funding Your Grandchild’s Education
Question: I would like to contribute to my grandchildren’s education. Their parents already contribute the maximum amount to their RESPs each year in order to receive the government grant. What are my options? Answer: The costs of post-secondary school are rising exponentially, so kudos to you for wanting to help your grandchildren with the gift…
Read MoreFinancial Planning For Couples: Starting A Family
Next to buying a house, raising children is a large ongoing expense for couples. Often both are experienced at the same time. If you’re renting a one-bedroom apartment, the upcoming birth of your child brings out the desire for a 3-bedroom house with a big yard. I understand that not everyone wants kids, of course,…
Read MoreThrowback Thursday: The Electronic Age
When I was a girl one of my favourite cartoons was The Jetsons about a futuristic space-age cartoon family. Advances in home technology were just beginning and the Jetsons’ high-tech lifestyle was amazing to me. Who knew how quickly many those fictional advances would come to pass. Related: Buying a home in 1974 vs. 2014…
Read MoreBecoming A Better Investor: Socially Responsible Investing
It isn’t what we say that makes a difference in the world. It’s what we do. There has been high interest and significant growth in socially responsible investing – also known as ethical investing – especially among younger investors and women. But, even though the trend is growing, it’s not new. Socially responsible investing has existed since…
Read MoreThe Dollar Store Boom
Once upon a time I would never have set foot in a dollar store. I thought, “Why would I waste my money on their cheap, shoddy merchandise when I can buy a better quality brand name?” Then about ten years ago dollar store giant Dollarama came to my Calgary neighbourhood. I don’t know what impulse…
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