Financial Library

Diversification is Key

As with many retirement savers, it took two major stock market events (Global Financial Crisis, Global Pandemic) to convince Adam and Sonya that trying to 'time the market' or pick specific sectors was a costly exercise in futility. But, with the value of their RRSPs nearly halved in the 2009 Financial Crisis, they also recognized that they could not afford to avoid equities if they were going to have any chance of meeting their retirement goals.

Estimating Retirement Expenses

By far one of the most crucial financial strategy steps is accurately estimating retirement expenses. Correctly accounting for retirement living expenses is critical to ensuring that retirees do not outlive their money. For those already retired, there are usually few good options for creating new income sources later in life.

Getting retirement spending projections correct is both an art and a science. To deal effectively in planning for future retirement needs, a financial professional can help determine the best course of action.

A Hot June Without Enough Water

A Hot June Without Enough Water | Borden Financial Services

I won't have to tell anyone who lives in Calgary that we had to curb our water usage quite dramatically this June. A massive feeder pipe needed to be repaired which left Calgary, Airdrie, Chestermere and Strathmore in a real predicament. As I write this, we are almost back to normal and hopefully, we are all the way back by the time you read it! Natalie and I decided to leave for Saskatoon for the last week of June. We had planned to get there in July but with the water issues in the Calgary area, we decided we'd head East earlier in the summer.

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You've retired. Now what?

Canadians are living longer, healthier lives. According to Statistics Canada (2018), the average life expectancy is 80 years for men and 84 years for women. This means your retirement years may almost equal your working ones. Family therapist Rhonda Katz suggests taking some time before retirement to identify what you find enjoyable in life and thinking of ways to sustain that happiness level. She also says to honestly answer the following questions:

'Is there some aspect of my job that I would love to keep doing?'

Hot Markets and a Hot Start to Summer

While we got some much-needed rain in Calgary in May, the sun seems to have come out for June! We've had some beautiful days to start the month and have been able to spend good chunks of our weekends outside lately. This will be our third year with Solar Panels on the roof so we like seeing these sunny days more than ever now. When the sun is shining, we are producing energy, and lots of it!!

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