Posts by Boomer
The Conflict Of Interest In Sales
There’s been a lot of talk recently about commissions (especially embedded fees) paid to financial professionals. In the past it was often hard to pin down just what financial advisers were making off their clients and how fees were calculated. Public pressure has made the fee collecting process more transparent, but there are still questions…
Read MoreCould You Feed Your Family On $5 A Day?
Grocery bills are on the rise and I’m always looking for ways to save money. I was recently intrigued when I read about a $5 a day meal planning program until I realized the writer was American. I don’t think it’s possible to shop the same way in Canada. Our food prices are a lot higher, and…
Read MoreUnexpected Costs Threaten To Ruin This Financial Plan: A Boomer & Echo Financial Makeover
Heather and Luke Weslowski got married five years ago. Heather had two children from her previous relationship, Felicia (8) and Adam (10). With their combined incomes of over $100,000, they thought their financial resources were more than enough to enjoy the good life. The couple purchased their home six years ago with 5 percent down…
Read MoreRetiring To Another Province
When you are approaching retirement you have quite a few important decisions to make. One decision is where you want to spend your retirement years. According to a BMO survey, most Canadians prefer to stay close to home rather than uprooting their lives. Of those who plan to relocate, most move to another province. Only…
Read MoreThrowback Thursday: The 1980s vs. Today
Do you remember what life was like before emails, the Internet, smart phones and 24hr TV? Today the feature is the 1980s – the decade of big hair, big shoulders and bigger interest rates. This turbulent decade was when most Boomers were in their borrowing phase and raising their little Echoes amidst soaring inflation, increasing…
Read MoreHow’s Your Credit Score?
According to a survey done for BMO, 56 percent of Canadians say they have never checked their credit score and only 14 percent check at least once a year. 52 percent do not know what would be considered a good credit score. What is a credit report? Your credit history is recorded in files maintained…
Read MoreToday’s Retirement Reality
We all like to compare ourselves with our peers to see how we measure up to everyone else. Here are some retirement statistics from the most recent Canadian Census, Statistics Canada and various surveys. Age statistics In Canada in 2014 the average age was 58. The baby boom demographic, representing those born between 1946 and…
Read MoreWhat Should You Do With A Windfall?
Have you received an inheritance? Are you a lucky lottery winner? Maybe you gained a sizeable amount from the sale of property or a business, or received severance pay? Do you know what to do with your windfall? There are many reports of fortunes squandered by people dipping too quickly or liberally into their windfalls.…
Read More5 Myths About Insurance
Insurance is one of those budget items that you hate to pay, but you’re really happy to have it if you need to make a claim. There are, however, popular misconceptions that many people believe that will, unfortunately, cause them to be underinsured or improperly insured. Do you believe these common myths about insurance? 5…
Read MoreSplurging On A Budget
When you prepared your budget did you account for only your basic necessities with all the remainder earmarked for saving? This kind of budget may be doable for a couple of months but probably not much longer. Living on a budget does not have to be the rigid “straight-jacket” you may assume it to be.…
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