Posts by Boomer
Excess Spending Keeps This Couple From Getting Ahead: A Boomer & Echo Financial Makeover
Clark Sanderson (39) works a high-pressure job in sales for an international company. His wife, Jill (38) is a stay-at-home mom with two preschoolers, Sean (5) and Rachel (2). Although Clark earns an above-average annual salary of slightly over $120,000, and gets regular bonuses, they have virtually no savings and a high debt load due…
Read MoreThrowback Thursday: The Family Car – Then and Now
This latest installment of our Throwback Thursday: Then and Now series looks at the family car, which has gone through a number of transformations since the 1950’s. The 1950’s and 60’s Boomers who didn’t grow up with the station wagon surely knew at least one family who owned one. Previously regarded as commercial vehicles, sales…
Read MoreWhen Should You Sell A Stock? Here Are 5 Simple Rules
The stock market has hit some all-time highs recently, which makes some investors nervous. Is it time to sell? Knowing when to sell, especially in a bull market, is the hardest thing about trading. It’s not an “all or nothing” decision. Don’t change a strategy that’s working for you. Ask yourself if the stock still…
Read MoreDo You Have An Unclaimed Bank Account?
Have you ever moved and forgotten about an old bank account? The Bank of Canada holds about $532 million dollars of unclaimed money dating back to 1900. Where does the money come from? Bank of Canada unclaimed balances are Canadian dollar deposits or negotiable instrument that were held at a bank or trust company. They…
Read MoreImprove Your Home With Good Landscaping
When the weather starts warming up in the spring my thoughts turn to spending more time outdoors. Those of you who own a house can increase your living space and activities with good landscaping. Our homes are probably the most important financial investments we’ll ever make. While we often spend time and money upgrading appliances,…
Read MoreWhat’s The Right Amount Of Retirement Income?
“Money may not be the most important thing in life, but it’s way up there with oxygen.” – Zig Ziglar How much is enough? That’s a question that’s asked often. Everyone measures the concept of “enough” differently. Some of us think in terms of dollars per month or year: $50,000 per year $5,000 per month Or,…
Read MoreAre You Cut Out To Be A DIY Investor?
Many investors – not happy with their advisers for whatever reason – feel they can do a lot better themselves, especially when the market is booming and their friends and co-workers are bragging about their winning investment performance. DIY investing can appear to make sense for a lot of people. However, studies have shown that…
Read MoreThrowback Thursday: University Education in 1965 vs. 2015
Canadians invest in post-secondary education to improve their chances of getting a well-paying job. Because of the demographic boom most Canadian universities more than tripled student enrolment in the mid 1960’s and started a huge building expansion. Older, more established universities increased faculty numbers and expanded their facilities, while new universities were built to accommodate further…
Read MoreKids Bailing Out Parents
Loving parents will occasionally help their children in a financial crisis and/or pay outright for certain expenses: University tuition and expenses – either through funding RESPs or directly when they are due. Help with the down payment on their first home. Wedding costs. Provide a place to stay when unemployed, divorced, etc. We also often…
Read MoreManaging a Budget in an Expensive City: A Boomer & Echo Financial Makeover
Susan Wilson (28) landed a position doing communications and marketing for a major charitable organization. She earns $68,000 and has full benefits. Susan moved from a smaller town to Toronto but, even with a bigger paycheque, she now has less disposable income because of the higher cost of living. She is more mindful of her…
Read More