Building Wealth

For the first 30 or so years of working, saving and investing, you’ll be first in the mode of getting out of the hole (paying down debt), and then building your net worth (that’s wealth accumulation.). But don’t forget, wealth accumulation isn’t the ultimate goal. Decumulation is! (a separate category here at the Hub).

Fritz Gilbert on why he’s Retiring from full-time blogging about Retirement

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By Fritz Gilbert, TheRetirementManifesto

Special to Financial Independence Hub 

 

On April 12, 2015, I wrote my first post on this blog.

  • A decade of writing.
  • 441 articles.
  • 1 Million Words.

Wow.

It’s been a heckuva ride. I’m in awe that over 16,000 of you subscribe to my blog and read what I write (a sincere “Thank You!” to all of you).  It’s an honor, and I take it seriously.  In that very first post, I wrote the following:

“This is the story of my journey, told in The Present before it becomes The Past.”

I’ve always liked that sentence, and it’s become one of my goals with this blog.  To share my journey, as I’m living it, with the hope that sharing my experiences will help others achieve a great retirement.

At this point in my journey, I feel I’ve accomplished that goal.

As I seek to continually experiment with my retirement lifestyle, I challenge myself to embrace the freedom these years offer. Sometimes it’s hard, and today is one of those days.  As that journey has evolved, it’s reached the point where it’s led to a major decision for this blog.

That decision?

I’m retiring from full-time blogging.

But…I’m getting ahead of myself.  To gain insight into my decision and what it means for this blog, read on…

I’m retiring from full-time blogging. Today, the story behind my decision, and my plans for the future… Share on X

Shifting Gears after 10 years of Blogging

I’ve known a lot of bloggers over the past decade, most of whom have faded away. That’s not a surprise, given that 80% of blogs fail to survive beyond 18 months.

They just … disappear.

One day, you’re reading their stuff, and a few months later, you realize you haven’t seen anything from them in a while.  A year later, they’re all but forgotten.

I’m taking a different approach

As always, I’m being transparent about this phase of my journey, and I’d rather tell you what I’m thinking than have you wonder where I’ve gone. This is my Present, before it becomes my Past.

After 10 years of diligent writing, it’s time to shift gears.  I still enjoy writing, but it’s becoming more of an obligation than the true joy it’s been in the past.  With over 440 articles in my archives, it’s harder to find fresh topics to challenge my mind.  I think less and less about potential topics, a sharp contrast to the earlier years of writing when ideas were constantly flooding my mind.

It’s time to move on

I’ve always encouraged you to remember that Retirement Is Like A Game of Poker, and challenged you to constantly improve the cards you’re holding.  If a card is getting stale, don’t hesitate to exchange it for a new card from the deck.

I’d be a hypocrite if I didn’t apply the same advice. The blogging card has gotten a bit stale, so I’m shuffling the deck and putting the cards down for a while.

I hope you’re doing the same.

Never stop experimenting.

Never stop improving your hand

The Future of The Retirement Manifesto

The good news is, this blog isn’t going anywhere.  I have no intention of selling it, and I plan on keeping it online well into the future.  I’ll still write when the urge strikes.

The thing that will change is the frequency of my writing.

After all, I’m retiring from full-time blogging.  😉

I don’t know exactly what that means yet, but I’m going to explore it for a while to see where it leads. I’ve been writing about retirement for a long time, perhaps I’ll use this platform to share thoughts on other topics in the future.  Most likely, I’ll follow the path that Mr. Money Mustache and JL Collins have taken, and write when I feel I have something worthwhile to say.  They both only write a few times a year, but I still read every word.  I hope my readers will do the same for me.

Stay tuned (and please don’t unsubscribe)…

I’m getting busier with other activities that I enjoy, and the blogging card has become more intrusive. I seldom find time to sit at my keyboard, and I’m fine with that.  I prefer to be out… .. Continue Reading…

Retirement Confidence is Crashing: Here’s how Canadians can take back Control

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Image via Pixels: Marcus Aurelius

By Ben McCabe, Bloom Finance

Special to Financial Independence Hub

Over the past year, Canadian seniors have faced rising inflation, high interest rates, and ongoing economic uncertainty, all of which are reshaping what retirement looks and feels like in Canada.

Retirement was once viewed as a time of ease and stability; instead, for many, it now feels like a constant calculation of trade-offs and tough decisions. Recent data paints an unfortunate picture, as retirement confidence is declining fast. Only 36% of Canadians feel confident in their ability to stay financially stable in retirement and just 7% feel very confident, while 27% are not confident at all.

This isn’t about long-term planning gone wrong: it’s about the real-time impacts of economic conditions that have changed dramatically over the last few years. Inflation has outpaced income, and daily essentials like food, utilities, medical care and housing are up nearly 30% over the past three years. However,  there are ways to regain control.

A Shifting Retirement Reality

Many older Canadians are now exploring alternative ways to stretch their resources. For some, that has even meant returning to work:  nearly half (46%) of Canadian homeowners aged 55+ are considering part-time jobs to make ends meet with rising living costs. For others, it means delaying retirement altogether: 67% say they’re concerned their savings won’t sustain the quality of life they had envisioned.

Meanwhile, traditional supports like the Canada Pension Plan, Old Age Security, and personal savings no longer offer the security they once did, especially since many seniors are financially supporting family members. According to another survey, 1 in 3 Canadian grandparents are financially supporting their children or grandchildren, with 53% saying that support has increased over the last two years. With 65% acknowledging that assistance impacts their own retirement savings, it’s clear that seniors are carrying more financial weight than ever.

Taking back Control

In response, seniors are taking steps to regain their financial control. One critical first step is getting a clear understanding of the full financial picture: knowing what money is coming in and what is going out. By distinguishing between “wants” and “needs,” retirees can prioritize essentials like housing, food, healthcare, and look for opportunities to cut back where possible.

Exploring New Solutions

In a financial landscape that is ever-changing, more and more seniors are open to innovative solutions that may not have been part of their initial retirement plans. Three-quarters of Canadian seniors own the homes they live in, and most entered the housing market decades ago. With years of sustained low interest rates and population growth that has outstripped new housing supply, home prices have tripled nationwide in the last 20 years (and more than that in many markets). Continue Reading…

How to Create a Crisis Budget that Supports your Path to Findependence

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Image by Rilson S. Avelar from Pixabay

By Devin Partida

Special to Financial Independence Hub

No one expects a monetary crisis to strike until it does. Some events that might throw you into a tizzy include losing your job, a pet getting ill and needing emergency veterinary services or the family vehicle breaking down.

To stick to financial goals, you must have a plan for when the current one falls to pieces. Creating a budget that allows you to survive a sudden catastrophe while saving for a home, travel or retirement is the secret ingredient to keeping the nest egg you need.

Amid the Storm: Identify and Prioritize Essential Expenses

An annual emergency savings report by Bankrate, YouGov and SSRS found that 59% of Americans are not comfortable with their emergency savings. For millions of people struggling paycheck to paycheck, anything outside their normal costs spells trouble.

The first thing to do when you experience fewer funds than bills coming in is to assess where you are and how much money you need to survive.

Identify Needs versus Wants

Although your favorite treat from the grocery store may seem like a need, you can likely find something less expensive to fuel your body. Some examples of needs include:

  • Shelter
  • Food
  • Heating and cooling

Once you have a list of the things you can’t live without, you’ll be better able to assess your priorities. In the short term, calling creditors or subscription services to pause payments or end plans can free up enough money to get through the predicament or assess how much money you need now.

Renegotiate Bills

The next step is to call each company to see what flexibility you have. For example, you need utilities to cook, heat your home and use the lights. Many local utility companies will put you on a payment plan so the bill remains the same around the calendar year rather than increasing exponentially during extreme weather.

For credit cards or subscriptions, explain your financial crisis and ask how to reduce monthly payments. Remember that delaying them may increase the total interest paid on the debt, so only use this technique to survive a short-term spending mess.

Cut to the Bare Bones

If you lose your income or have an unexpected expense, you may need to slash spending even more. Look to local resources for help. Food banks can provide sustenance when you lack grocery funds. Talk to your local county, township or public trustee about help with power bills and other resources in your area.

3 things to do to prepare for Financial Emergencies and Unexpected Expenditures

Life is filled with surprise charges. One way to plan for any crisis is to budget for it now. Weathering the next monetary tsunami will feel more like jogging up a hill than crawling up a steep mountain when you’re prepared. Here are some things you can do to be ready:

Create Multiple Streams of Income

Prepare for extra expenses like medical emergencies or the added costs of parenthood by finding ways to bring in more income. If the raises at work are lower than inflation, you can pick up a side hustle and join the gig economy to cover emergency funding.

In addition to diversifying your income sources, you can receive education to become eligible for higher-paying roles at work. Get an online certification, take a course through the local community college or enter management training through the workplace.

Add apps that earn you money for doing things like walking, taking surveys or buying things online. Look for creative ways to bring in extra cash, such as selling art you create or selling used items. Continue Reading…

Low-Volatility ETFs for a Volatile World

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Image courtesy Harvest ETFs

By Ambrose O’Callaghan, Harvest ETFs

(Sponsor Blog)

Canadians in retirement, or those nearing retirement, are faced with unique challenges in the present-day market. Interest rates have moved up from their historic lows since 2022. The benchmark rate for the Bank of Canada (BoC) reached its zenith of 5.00% in July 2023. Economic headwinds forced the hand of the BoC in 2024 and 2025. The benchmark rate now stands at 2.75%, with more rate cuts expected before the end of the year. (The BOC stood pat on April 16th).

This downward trend for interest rates means that investors who want a secure investment while outpacing inflation may have to look beyond GICs and other fixed-income products in this changing climate. Market volatility is another headwind investors are now contending with, spurred on by a new and aggressive U.S. administration.

There was enthusiasm surrounding the broader economy and the stock market coming into 2025. The previous GOP administration cultivated a reputation as a market-friendly one in the late 2010s. That momentum ground to a halt due to the COVID-19 pandemic, but the perception of a market-friendly GOP largely remained.

Investor outlook has soured in the late winter and early spring, in large part due to the uncertainty surrounding U.S. government policy, particularly when it comes to tariffs.

Source: American Association of Individual Investors, Bloomberg, Harvest ETFs. As of March 21, 2025.

This uncertainty has resulted in elevated levels of market volatility. Some names have suffered retracements of 50% or more over the past two months. This market is unique in that the sell-off was not triggered by one significant catalyst. Indeed, it is lingering trade policy uncertainty that is fuelling negative sentiment.

Source: American Association of Individual Investors, CNN (Fear and Greed Index). As of March 20, 2025.

The S&P 500 has dropped 8% in the year-to-date period as of close on Friday, April 10, 2025. A research note from Vanguard recently speculated that volatility was likely to remain due to factors like policy uncertainty, disruptive currents in the economy like artificial intelligence development, and the shifting policy of the Federal Reserve.

Demand for Low Volatility products has increased in this environment. These ETFs offer Canadian retirees a pure low volatility play with exposure to 100% Canadian equities. Moreover, we have introduced Harvest’s trusted option writing strategy to the second Low Volatility ETF. It aims to lower portfolio volatility while generating high monthly cash distributions.

Harvest Low Volatility ETFs:  A smoother Investment Experience

Harvest’s new Low Volatility ETF suite could be appealing to defensive and long-term investors. This approach to equity investing is factor-based, disciplined, outcome-oriented, is designed to mitigate risk, as well as provide long-term growth. Moreover, the suite includes a high-income solution that generates monthly cash distributions through an active covered call writing strategy. Continue Reading…

I prefer Financial Independence Work On Own Terms (FIWOOT) over FIRE

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Deposit Photos

By Mark Seed, myownadvisor

Special to Financial Independence Hub

We all know what FIRE is in the personal finance community but what is FIWOOT?

(I’ve updated this original post from 2019 to reflect my current views and progress.)

Read on and find out why I still prefer FIWOOT vs. FIRE and what that means moving forward in 2025.

Why the FIRE burns bright on social media

Like any good movement, it takes courage to do what others won’t.

Financial Independence takes both know-how and long-term discipline. It takes time to remain invested when others are jumping in and out of the market. It also takes saving your brains out to retire early, usually from a high salary and a bit of luck.

This is not to say I disagree with the Financial Independence, Retire Early (FIRE) movement and what some folks are striving for. I think many FIRE principles have great merit:

  • Live well below your means.
  • Save early and often.
  • Avoid financial and lifestyle waste.
  • Avoid long-term debt that is not used for wealth generation.
  • Optimize your investing (i.e., keep your costs low and diversified).

I’ve written about FIRE concepts many times on this site. Many years ago I even questioned if FIRE was right for me at all.

Well, I know my answer.

Why I’m tired of retire early in FIRE and why FIWOOT works

In some circles (not all thankfully), the focus of FIRE is on the “retire early” part.

Work hard, make good money with the intention of leaving the corporate rat-race sooner than later.

That’s definitely aspirational:  if that were the end of it. But most of the “retire early” crowd doesn’t retire. They still work: just at something different.

If you expend energy, trade time or services for any income, that’s work. If that’s your blog or podcast or ebook or financial independence course that’s work.

And working is not a bad thing at any age. Just call it what it is.

Why I’m a fan of the Financial Independence (FI) part of FIRE

Maintaining your wealth and being happy doing it?

That sounds better and far more honest to me.

That’s the perspective that CFP Graeme Falco once shared on my site – when discussing his practical guide to financial independence book.

Like Graeme, I believe far more in the FI part of FIRE than the RE (retire early) part.

For me, financial independence is the amount wealth you need to be no longer dependent on any active source of income (i.e., work) to fund your lifestyle. That wealth could be from stocks, bonds, gold, real estate, and much more. Financial independence can also mean you might still want to work.

That’s something I intend to do in 2025 now I’m financially independent.

Financial Independence, Work On Own Terms (FIWOOT) Moving Forward

We realized financial independence in the summer of 2024 and since that date, I’ve been working on my employment status with my employer. I’ve been discussing the opportunity to scale back a bit and work part-time in 2025. After months of fruitful discussions, that plan is now in place.

As of April, I will be working three days per week versus five. Full-time work with my current employer is over: I’m starting a new chapter with them and thankful for it. Unless both parties decide something different, I will be working part-time from April to October 2025. After that date, I might be retired for good.

Our semi-retirement years are here. More life-work balance is ahead this year. 

via GIPHY

Actually, in this new part-time capacity, I’ve finally caught up to my wife!

My wife continues to work three days per week in 2025 (she started her scaled-back role in 2024).

Moving forward, it’s part-time work for both of us in this 2025 transition year.

FIWOOT Q&A:

Will this change how I invest?

Nope.

As subscribers to my site may know for well over a decade now, we invest this way and have no plans to change our hybrid investing strategy:

  1. We invest in many Canadian and a few U.S. dividend-paying stocks.
  2. We invest in some low-cost ETFs for extra diversification to own thousands of stocks. Continue Reading…