Posts Tagged ‘savings’

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Secrets of How the Rich Save, Spend and Invest

Secrets of How the Rich Save, Spend and Invest

The secrets to building wealth aren’t hidden behind locked doors in the realm of the rich. Plenty of wealthy people make disastrous financial mistakes. But those who succeed understand how to make their money work for them as well as... (Continue reading)

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RRSP Ages and Stages

RRSP Ages and Stages

Everyone knows it’s RRSP season, but what’s less obvious is how to best direct your contributions over the years. Different ages and life stages call for different strategies. There’s an overarching theme, though: anything you can put toward your retirement... (Continue reading)

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Canadian Investors Keeping Cash Within Our Borders

Canadian Investors Keeping Cash Within Our Borders

Blame it on Olympic fever. It seems nothing is immune to the wave of Canadian pride sweeping the nation, not even how we choose to invest our money. A new poll from CIBC Asset Management found the majority of Canadians,... (Continue reading)

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Retirement Saving Should Be Realistic Not Idealistic

Retirement Saving Should Be Realistic Not Idealistic

Planning for retirement can be overwhelming. It requires thinking about long-term goals and it forces consideration of a more sensitive subject — one’s own mortality. An RBC study reports that only 52% of Canadian boomers actually put a plan on... (Continue reading)

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5 Ways to Get Rid of Credit card Debt

5 Ways to Get Rid of Credit card Debt

The average credit card debt of a US household is over $15,000. That is a lot of money! Our neighbor to the north is in even worse shape in that an average Canadian household owes nearly $27,000 in credit card... (Continue reading)

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How we paid off our mortgage in 6 years

How we paid off our mortgage in 6 years

If you have ever heard the phrase “A day late and a dollar short,” it applies to me. After spending six years looking forward to the day when I could burn my mortgage, my final lump sum payment was $1... (Continue reading)

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If You Have 10 Years Before Retirement

If You Have 10 Years Before Retirement

The November issue of Money magazine contains a bunch of retirement articles. It must be their retirement issue. I am planning to evaluate each article one at a time to see if I agree with their position. The first article... (Continue reading)

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Emergency Funds — The Key to Weathering Financial Storms

Emergency Funds -- The Key to Weathering Financial Storms

Over the last few days, we have watched with horror as Hurricane Sandy has roared up the East Coast of the United States. We have seen the devastation that a storm can cause, both in a physical sense and in an... (Continue reading)

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Credit Card Shopping

Credit Card Shopping

Excerpt courtesy of The Family Finances When was the last time you went credit card shopping? No, I don’t mean when was the last time you went shopping and paid for it with your credit card. I mean, when was... (Continue reading)

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Retire Early Plan Has High Risk of Failure

Retire Early Plan Has High Risk of Failure

Ming and Li are exceptional savers. They have already paid for their $300,000 home in southwestern Ontario and saved nearly $330,000, without any help from parents since they graduated. They have built a solid financial base for themselves and their... (Continue reading)

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