Posts by Boomer
What To Do With Paper Clutter?
From bills to receipts, warranties and junk mail, we all need a system to toss what we don’t need, manage what we might need and be able to retrieve something when necessary.
Read MoreOn Retirement – Early or Never?
Our current concept of retirement is relatively new. Past generations had no idea what it meant not to work. They only stopped when they physically had to. Here’s an interesting tidbit – in 1890, nearly everyone died while still employed, and if they were healthy enough not to expire on the job, they retired at…
Read MorePotpourri: My Thoughts on TFSA Limits, Household Debt, and Income Tax
A few items in the financial news caught my attention recently and I wanted to share my thoughts on the topics of TFSA contribution limits, Canadian household debt, and provincial tax rates. Here goes: 1. TFSA annual contribution limit to increase to $10,000. The original TFSA rules in the Tax Act specify that the annual contribution…
Read MoreManaging RRSP/RRIF Withdrawals: Part II
Most financial advice we get is based on the premise that our post-retirement income will be less than pre-retirement income, and many of us do make less in our senior years. The RRSP is a great savings vehicle that provides financial incentives to contribute. The deductions defer the income tax we must pay to a later…
Read MoreAre You Frugal – Or Just Plain Cheap?
Frugal people and cheap people both love to save money. But there is a difference between being frugal or thrifty, and being cheap and stingy. Frugality makes you a more conscious spender. Being cheap means you try to avoid paying for anything. Related: 30 signs you grew up in a frugal family Frugal people have…
Read MoreDiversifying Assets for a Balanced Portfolio: A Boomer & Echo Financial Makeover
Sean Cooper (30) is a full-time pension advisor for a global pension benefits consulting firm earning $50,000 per year. He also earns approximately $20,000 per year as a freelance financial writer. Sean has channeled much of his income into paying off his mortgage. His goal is to reach financial independence by his mid-30’s. Current Assets…
Read MoreThrowback Thursday: Buying a Home in 1974 vs. 2014
Back in 1974, a typical home in Calgary was an 1,100 square-foot bungalow that cost $40,000 – or about 2.8 times the average household income. By 2014, the typical Calgary home had ballooned to 1,700 square-feet and sold for $470,000 – a whopping 6.3 times the average household income. So who had it easier – the…
Read MoreCustomer Service: More Brickbats Than Bouquets
You interact with various customer service personnel throughout your day, and most of the time it’s acceptable – the store clerk who points you in the right direction, the pleasant and efficient cashier, the telephone customer service agent who sorts out your billing problem – but it’s not really memorable. The really memorable encounters are…
Read MoreAre You a Risk-Taker?
“Risk taking is inherently failure prone. Otherwise it would be called sure-thing taking.” – Jim McMahon The Merriam-Webster dictionary defines risk as the possibility of loss or injury; the chance of something going wrong; an outcome that can be different than expected. People who like the thrill of skydiving or mountain climbing can take great risks…
Read MoreMaking The Most Of Your Costco Membership
Many of us have a Costco membership to take advantage of discounts on bulk food and household goods. Be aware, though, that the warehouse giant does not always offer the lowest price on an item. Sales, loss leaders, and generic goods at competing stores may give you a better deal. Related: Is the Costco Executive…
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