Monthly Archives: August 2016

Review — The Defining Decade: Why your Twenties matter

Posted By Helen Chevreau | August 13, 2016

It was a few years ago now that my mom came to me and told me about this book I just absolutely had to read.

As with most things my mother tells me, I nodded, then continued on as if nothing was said. She gave me a copy of the book but I just put it on my shelf, along with many other parental recommendations that I never quite had the time to pick up and get to.

This past January, though, I was sitting around with my friends and they were all panicking about this book they were reading, and how their lives weren’t where they should be for our age, and how their entire perspective had shifted after reading it. Naturally, I was intrigued. What is this book and why is it so powerful as to elicit such a panic from my friends?

As luck would have it, the book they were discussing was the same book my mother had tried to get me to read years before, and I knew exactly where it was sitting on my shelf. I picked up The Defining Decade as soon as I got home that evening, and didn’t put it down ’til it was done.

‘The Defining Decade’ by Meg Jay, PhD is, as cliché as it may sound, a call to action. Continue Reading…

Sorry Boomers, as FinTech rises, Millennials now main focus of financial industry

Posted By Jonathan Chevreau | August 12, 2016

As I recount on page FP3 of today’s Financial Post, the baby boomers are fast becoming supplanted by the Millennial generation when it comes to attracting the attention of the financial services industry and in particular the rise of the fintech industry.

For online version, see Sorry boomers, the focus is shifting: Millennials are fast becoming new apple of financial industry’s eye.

Certainly, much of the action around so-called “Fin-Tech” is oriented to the Millennial market, with many of the firms also founded or cofounded by Millennials. The big three fintech categories are online lending, robo-advisers and payment technology.

Note the New York Times had an interesting piece this week on fintech and blockchain: Envisioning Bitcoin’s Technology at the Heart of Global Finance. Also note my Hub review of Don Tapscott’s groundbreaking book on blockchain, with a link to a video: Book Review: Blockchain Revolution.

YOLO: the new Millennial motto?

Also in the FP package today is a review of a book written by a Millennial that addresses Millennials: You Only Live Once, otherwise known as the popular millennial slogan YOLO.

5 ways financial apps can ensure data security

Posted By Financial Independence Hub | August 11, 2016

By Barney Whistance

Special to the Financial Independence Hub

People are obsessed with money and their smartphones and tablets at the same time. The more money flow they have to manage, the more insecure they become about keeping track of it and keeping it safe.

There is no doubt that smart apps can help to manage your money, make large deposits and transfers of money in a short time, use the best use of financial information and make simple payments online. However there is still a potential threat of online theft and scams. Thousands of functional apps are developed every day to help keep track your money but the question remains whether or not these financial-related apps are safe and secure to use and protect you from an online hack or theft at the same time.

With the digital revolution and the integrated use of social media, the financial industry has to determine the safest ways to transect the online transfer of money in online apps. Contrary to their social media activities and brand identity hype, some finance apps tend to be of no use and are most vulnerable to outside hacks.

Financial applications should be able to provide users with the immediate access to their financial data with convenience and security. However there are some tips which can ensure that your financial data and money remain safe and secure.

Securing the Flow of Sensitive Data

Rediscovering your Inner Child in your Victory Lap

Posted By Michael Drak | August 10, 2016

The other day I was talking to a gentleman about how, in our Victory Laps, we have the opportunity to start living like a kid again. He thought that was a little weird, but I think I finally won him over by triggering some long forgotten memories in him.

Remember back to when you were a kid in school. Back then, we had no fears and anything seemed possible. We dreamt such big dreams, like competing in the Olympics or becoming the president of a large company.

Life used to be such an adventure back when we were young but unfortunately over time we tend to bury our hopes and dreams, deep down inside us. We are driven to obtain financial security for our families and save up enough for eventual retirement but at some point we allow ourselves to be assimilated by our jobs and start following the crowd.

We end up acting like everyone else, without knowing exactly where they are taking us, and live by rules drawn up by someone else. As a result, many people just sit back and watch their dreams slowly wither and die. They follow the same dull, boring daily routines, and feel overwhelmed by the pace of their lives, their jobs, debts owed and family obligations. When we allow our dreams to die our soul isn’t far behind.

Young people have little in the way of financial resources, but seem to have the ability to live where they want, travel where they want, and have no fear of doing what they want to do in life. We can learn (perhaps re-learn is a better word) a lot by watching and listening to our kids.

The challenge we boomers face is to find a way to open our minds and take a new approach to life as our past experiences and old prejudices keep getting in the way. Don’t settle for just getting by and start looking at the world with fresh eyes. We all need to start living again just like when we were kids.

If You Don’t Do It Now, You Never Will!

Is your investing style to preserve or perform?

Posted By Adrian Mastracci | August 9, 2016

Many investors tell me they want the highest returns for the least risk. However, savvy investors know that to be a myth.

A periodic reassessment of the facts is time well spent for every investor. One where plenty of frankness prevails.

For example, step back and revisit your investor style. Even rethink if it truly fits the financial goals you seek.

My question helps:
“What drives your investing style: “preserve” or “perform” ?

Let’s define these two types:

1.) “Preserve” investors care first about risks they incur. They lean toward capital conservation.

2.) “Perform” investors seek high returns with less concern for risks. They prefer more exciting growth strategies.

Rightly or wrongly, my observation is that the majority are clearly driven and sold by performance. Their exuberance too often chases fleeting past performance, a mugs game at best.

Wise investors know that some portfolio preservation is desirable strategy. However, performance just has far more cachet and always will.

Every family needs to find their acceptable investing balance. That is, between becoming too conservative and throwing caution to the winds.

Establishing your profile

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