Posts by Boomer
6 Steps To Creating A Sound Financial Plan
Q. I don’t have a large income or a lot of investments. How can a financial planner help me? You don’t have to be wealthy to make a financial plan. A financial planner can help you in the following ways: 1. Clarify your current situation A planner will provide you with a personal and financial…
Read MoreHow To Pick The Perfect Mortgage
Buying a home, especially for the first time, is an exciting venture, but once you’ve been pre-approved for a mortgage amount and found the perfect property you’ll need to make a decision on the right mortgage for you. When my parents bought their first home here, after immigrating to Canada in the mid 1960’s, their…
Read MoreLending Money To Friends And Family
“Neither a borrower nor a lender be.” Polonius in Shakespeare’s Hamlet knew that lending money to a friend or family member often results in the loss of both the money and the relationship. But when someone you love is in a serious bind and you have the means to help it can be impossible to…
Read MoreSenior Discounts Vanishing From Our Banks
When my husband turned 60, being the cheapskate that I am, I was eager to check out what senior discounts we could expect from our TD Bank. I wasn’t expecting a whole lot – and that’s exactly what was offered, not a whole lot. Related: Free Chequing Account Comparison When I worked for the bank…
Read MoreHave You Made Your Retirement Plans?
When you start your career your financial priorities revolve around the present – paying off student loans, buying a house, your next vacation. You completed the company pension forms because they were part of your new employee documents package. You opened an RRSP account because someone told you it was a good idea – and…
Read MoreHow I Saved Over $300 On My House Insurance
When I recently received my homeowners insurance renewal documents, included was a letter explaining why the rate was increased. It stated how “severe catastrophic events worldwide continues to be a leading cause of loss for insurance companies,” blah, blah, blah. “So what” I thought, “I don’t live in a hurricane/earthquake/tsunami prone area. What does this…
Read MoreAre Bonds A Safe Investment?
Q. With the financial mess that a lot of countries are in (or about to be in) these days I wonder how the experts feel about bonds being a safe investment. Johnson & Johnson, for example, has a better credit rating than the U.S. government. Are bonds still safer than stocks? Gary D. To retirees,…
Read MoreAre Mutual Funds Really That Bad?
Mutual funds have been getting a bad rap lately with their high fees, low disclosure and under-performance. The introduction of ETFs has given investors a lower cost alternative. Even David Chilton did an about face in his new book The Wealthy Barber Returns recommending ETFs instead of mutual funds. It is true that the mutual fund…
Read MoreHow My Retirement Plans Got Derailed – Big Time
In previous posts I have described how I started working at a major bank when my husband had a serious work place accident. This “temporary” job lasted for almost twenty-five years. I won’t get into the reasons why I left but will continue the story from there. Starting Our Own Business Because of his health,…
Read MoreHow To Overcome Financial Inertia
In-er-tia: a property of matter where it remains at rest or in uniform motion unless otherwise acted upon; a tendency to keep things as they are. Financial Inertia: It’s easy to do nothing Despite all the advice to think ahead, set goals, work at achieving your goals, and make a life of your choosing, many people…
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