Here’s my latest MoneySense Financial Independence blog, titled How ‘findependence’ differs from retirement.
This is of course the ongoing theme of the Financial Independence Hub, aka FindependenceHub, and the reason it’s not called the Retirement Hub.
For convenience and one-stop shopping purposes, the piece can also be found below: Continue Reading…
That’s six Eternal Truths down, one to go.
Today, Saturday, the Financial Post ran instalment number 6 in my 7-part series on The Eternal Truths of Personal Finance: Don’t turn down free money from your boss (employer).
On Wednesday instalment number 5 ran at the FP and on the Hub: Be an Owner, Not a Loaner (although they used a different headline).
The seventh and final instalment likely runs next Wednesday.
Home Buyer’s Regret
Boomer & Echo ran a piece this week riffing off Globe & Mail personal finance columnist Rob Carrick’s Facebook page, with readers stating how big a priority it is for them to reduce debt. It’s certainly always been one for me and I continue to declare that “the foundation of financial independence is a paid-for home.” But clearly, young people these days face different circumstances: home prices are sky-high, especially in Vancouver and Toronto, but balancing that are historically low interest rates that seem destined to stay low for as long as the eye can see. (“seem” being the operative word.) Continue Reading…
Wednesday’s Financial Post ran the 5th instalment of the 7-part series I’ve been writing on The Eternal Truths of Personal Finance.
I originally headlined this one with a title that’s long been familiar to personal finance writers and investors: Be an owner, not a loaner, which is to say emphasize stocks over bonds. The headline in the print edition today (FP5) reads Eternal Truth No. 5: Embrace Risk, pay less tax.
When I posted this blog, there was no online version available, so I took the liberty of posting my original draft, which may vary from the edited version in the paper. Here’s the link to the first in the series, and nearby should be links to at least instalments two to five. Continue Reading…
By Horst Siegler
Special to the Financial Independence Hub
The Twelve Tables formed the basis for Roman law. The twelve suggestions below form the foundation of a sound financial plan. It should be devised and agreed upon by you and your partner and should result in a secure financial future.
1.) Believe you can succeed
No enterprise, be it financial success or otherwise, can succeed without a belief that it is possible. Much else goes into accomplishing your goals but without a belief you can succeed, they are doomed to failure.
2.) Agree on the definitions of the terms in your financial plan
You and your partner must have the same idea of what wealth, risk, budget and a lot of other terms mean or you will be working at cross purposes.
3.) Assemble a financial team Continue Reading…
Special to the Financial Independence Hub
Today is the first official day of summer as well as Father’s Day. So it’s entirely appropriate that parents across the country are busy lining up activities to keep their kids busy while they’re out of school.
Many parents find it a juggling act to pay for the additional expenses. According to a recent survey TD conducted – 71% of Canadian parents with children under the age of 18 who incur additional costs for their child during the summer spend up to $999 per child and half (51%) find budgeting for these additional summer costs stressful.
To help manage the financial heat wave that summer may bring, here are five quick tips for parents: Continue Reading…
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