Financial Library

Building Wealth

Posted on: May 13, 2014

There are many definitions and meanings for the term 'wealth'. It is often said that it is easier to build wealth over time than it is to keep it! Some confuse high incomes with wealth while others point to assets owned as an indicator of wealth. And, many people use the terms 'assets' and 'wealth' interchangeably assuming they mean the same thing.

The distinction between these two concepts may have an impact on your actions and strategies as you work to build your pot of money or savings during your lifetime.

Tags: 
investment planning

How NOT to Plan your Estate

Posted on: April 8, 2014

Your death will create problems. There will be three types - emotional, legal and financial. You can do certain things now, while you're alive, to reduce or increase these problems and make your heirs either love you or hate you.

EMOTIONAL PROBLEMS

You can increase the emotional upset after your death by leaving your affairs in a mess. Hide your will, or better still, don't make one. Have a number of secret bank accounts and investments.

Tags: 
estate planning

Reaching for Yield in a World of Low Interest Rates

Posted on: April 8, 2014

While we can talk about concepts such as inflation and purchasing power the struggle for many people today is earning enough income on their savings to meet their lifestyle needs. Interest rates and the earnings from capital through dividends, bonds and real estate rental income have dropped dramatically in the past few years.

Tags: 
investment planning

Choosing the Right Life Insurance

Posted on: March 11, 2014

Making the right choices for protecting you and your loved ones in the case of a premature death comes down to understanding some basic principles and rules of thumb. The first is that the name is all wrong; life insurance does not help you, it helps to protect the standard of living and lifestyle of those you leave behind. So more accurately it should be called something like: loved one's lifestyle assurance plan?.

Tags: 
insurance planning

Welcome to RRSP Season !

Posted on: February 11, 2014

It is that time of year again when attention turns to RRSPs and tax planning. This year's contribution deadline is March 3rd, 2014 if you want to deduct the contribution against your 2013 income tax return.

The purpose for making an RRSP contribution, from a financial planning perspective, is to build savings and assets over time so that you can replace earned employment income with passive or investment income for your retirement years. In other words you can sleep in and still have the lifestyle you want without going to work!

Tags: 
retirement planning

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