All the tips on budgeting are based on people who get paid on a regular schedule, but if you're an actor, musician, etc., you'll get a chunk of change all at one time and then often have a dry spell. It's so easy to blow through the money that you get paid and then have nothing left for the few months that you're waiting for that next gig.
In today's highly volatile capital markets, investors who can't stomach the fluctuations have hunkered down in good old Guaranteed Investment Certificates (GICs) and other traditionally categorized 'low-risk' investments. Although it only pays a modest rate of return, you can always count on your money being there when you need it. Or can you?
It's now your responsibility to watch your income and expenses, and confirm that you're living within your means. Make sure you're paying your bills on time, setting a solid retirement plan in place, and saving for your children's education -- while also putting aside funds for major expenses or future emergencies.
My overall idea is that by owning the dividend paying stocks outright you have the potential to make even more money and you know I love to do that. Creating a portfolio that is diversiﬁed and paying solid dividends will ensure a retirement asset to fulfill your goals and aspirations. Start paying more attention to your money and it'll pay you back with dividends.
Investing in ETFs with the help of a robot or on your own is a great way to get a toe into the market. It could be a great option for the millions of millennials who are interested in "setting it and forgetting" it. More and more millennials go online to get Ubers, pizza, dates, and entertainment -- why not also have your money managed that way too?
As provincial and federal governments attempt to improve our retirement system, one has to ask whether Canada currently has an ideal system and what can be done to strengthen it. Determining the best way forward can be challenging, since retirement security spans government politics, employer practices, individual investor education and cultural differences.
Buying a new home can be a daunting experience -- especially if it's your first time. One thing that banks love to do is tie mortgage insurance into your mortgage agreement, right along with a dangerous-looking checkbox you need to fill in if you choose to "recklessly" opt out. Here's why I want you walk into that mortgage broker's office, check that box, sign that line and opt out of it with total confidence.
Often accustomed to working independently, the new advisor will need to be more of a team player that is integrally connected with more aspects of your financial life. Your future advisor will leverage technology to work flexibly and have systems and processes in place to ensure that your interests are always paramount.
The post-secondary years are the ideal time to lock in great habits and fill any gaps in your children's financial education. Regardless of whether there are savings set aside or loans to be taken, managing the dollars matters. It's our young people who gain the most from good advice as they take on increased responsibility.