All posts by Financial Independence Hub

Tips for Older Travelers

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Akaisha with Billy

By Akaisha Kaderli

Special to the Financial Independence Hub

Billy and I have been on the road meandering through continents for over two decades. While we like to think of ourselves as spry, flexible and ready to take on the world, truth is, we are no longer twenty or thirty years old. Traveling at our age of 63 presents challenges that we didn’t have when we were younger. Energy levels have changed and our bodies require different comforts in order to feel well.

If you are in your fifties and sixties with active wanderlust, independent journeying is still possible. Take advantage of what we have learned over the years.

The Importance of Sleep

The value of sleep is a priority that we protect, since its absence is felt for the next day or two – creating havoc in moods, energy level and even decision making. Whenever possible, we no longer take red-eye flights. Air travel has become more complicated in recent years and it’s enough to handle the new requirements, the lines, and the disorientation of time zones without adding severe sleep schedule interruptions. Besides, what’s the rush? Continue Reading…

How Diana saved $12,000 in Interest payments and was Debt-free six years sooner

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Diana used to come to work with bags around her eyes. Her co-workers would always ask her if she was alright, and if everything was okay at home. Diana was tired of being sick, and she was also tired of people asking questions about her personal life. Diana had many sleepless nights, and it was now showing on her face.

There were a number of things that were contributing to Diana’s sleepless nights. Problems at work and home were among those issues. She was also struggling with credit card debt. Diana had managed to accumulate a credit-card balance of more than $10,000.

Diana had a good credit score and a good-paying job, so she did not expect to end up in credit-card debt. She had used her credit card to pay for a getaway with her husband to the Caribbean. As readers of the Financial Independence Hub know, using a credit card as a borrowing tool can lead to trouble quickly.

Diana believed she could pay off the debt before interest was charged to the card. However, a crisis happened and she had to cover an unexpected dental expense and a leak. Diana’s expensed trip to the Caribbean caused her to carry a credit-card balance that she was now struggling to pay off.

Diana was now living the personal finance nightmare: stuck in high-interest credit-card debt.

Diana’s new debt made life extremely difficult. She felt like she was in a sinking boat with no lifeline. She was feeling out-of-control, stressed and anxious. Diana struggled to budget in the minimum payments every month, but they never seemed to make a dent on the balance.

It is easy to understand Diana’s predicament when you take a look at the math involved.

Continue Reading…

Beyond patriotic investing: Canadians should invest in the U.S. equity market

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Som Seif

By Som Seif

Special to the Financial Independence Hub

Many, even most, Canadian investors suffer from a bias by which they invest in what they know: home.

This is short-sighted and dangerous for an investor’s portfolio, as the Canadian market is very small and concentrated in comparison to the U.S., especially around three primary sectors. Canadians really don’t have to go away to far flung places for diversification – they only need to look southward to the U.S. market, which is one of the broadest, deepest and most liquid financial markets in the world.

For those considering investing in the U.S., really focus on these three areas that are the core to growing and diversifying an investment portfolio.

  1. Go for the big treasure chest of companies. Go for diversity.

Continue Reading…

How Robo Advisers handled the August market correction

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Aman Raina

By Aman Raina, MBA, Sage Investors

Special to the Financial Independence Hub

With stock markets violently zigging and zagging during the month of August, I thought it would be a good time to check in with our ROBO Portfolio to see how it withstood the market gyrations. Here are some observations:

Performance:

After being up 0.8 per cent year-to-date in July, the portfolio slipped into the red, dropping 2.93 per cent year-to-date. Every asset class in the portfolio was now in a loss position. The real estate and Emerging Markets components were the biggest laggards, posting -14.9 and -12.7 returns year-to-date. Given the meltdowns we saw in global equity markets, this isn’t much of a surprise.

Continue Reading…

How do YOU want to Spend Your Money?

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spending_your_money1By Billy and Akaisha Kaderli

Special to the Financial Independence Hub

Man sacrifices his health in order to make money. Then he sacrifices his money to recuperate his health. And then he is so anxious about the future that he does not enjoy the present; the result being that he does not live in the present or the future; he lives as if he is never going to die, and then dies having never really lived. – James J. Lachard

You have worked your butt off for many years saving, investing, and doing mostly the right things. You’ve accumulated a substantial retirement account and are ready to retire. You know both your yearly spending average and your daily spending average, and are well within your Safe Withdrawal Rate.

You retire, and life is better than you ever expected. As the years pass your net worth continues to grow, and you are feeling confident and have relaxed into your lifestyle.

Then you get sick.

Health insurance covers most of the expenses, and you move on. Then something more serious happens, and costs are exploding. You need in-home care and services that are not covered by your policy. You are starting to strain your nest egg, and the financial security that you have worked your entire life for is slipping away.

Long-term care insurance? Continue Reading…