Financial Library

Moving For a New Job? Consider the Costs

Posted on: November 9, 2020

A job change is no longer just about higher pay or a better title. It can also be about achieving a healthier life balance or simply trying something new. In many cases, a new job includes relocating to a new community. A new opportunity can be very exciting, but even the most positive change comes with financial implications, especially when a move is involved. It’s good to understand the unexpected costs around relocating. A little knowledge can help you capitalize on the momentum of your new role without compromising your overall financial plan.

Tags: 
investment planning

Put Your Eggs In Many Baskets

Posted on: October 12, 2020

When their investment savings plummeted in the 2001 stock market crash, Adam and Sonya were concerned, but not panicked. Retirement was a long way out, so they had plenty of time to recover. The couple decided to try their hand at 'timing the market' (buying and selling stocks based on expected market fluctuations) to recover their losses. "We thought that if we stayed on top things and could chart when the market would go up and down, we could make our money back," says Adam.

Tags: 
investments
investment planning

Bracing For What Comes Next

Posted on: October 12, 2020

At the risk of sounding like a broken record, 2020 has been one tough year. Every month I go to write a newsletter, I take a look at what I wrote the month before. For most of this year, I have been writing about COVID-19 cases and how it has affected our health, our society, and our economy. Last month, I wrote that COVID-19 cases had crossed 25,500,000 globally and taken over 850,000 lives1. In early October, those numbers have increased to approx. 34,500,000 confirmed cases and over 1,020,000 fatalities1.

Leaving a Legacy

Posted on: October 12, 2020

Recently retired Ross and Penny have an estate planning challenge. They've accumulated a comfortable net worth, with a good portion of it in liquid investments. They plan to leave everything to their three adult children, but they also want to help them financially right now. The problem is that all of their children have a different relationship with money than Ross and Penny. In a nutshell, the parents are savers and the children spenders. If they give large sums of money, Ross and Penny would want their children to use the cash to improve their financial lives. Would they do that?

Tags: 
estate planning

The Last Quarter of a Difficult 2020

Posted on: September 7, 2020

2020 will be a year for the ages and certainly not because it's been a good one. As I write this, COVID-19 cases have crossed 25,500,000 across the globe with 6,200,0001 in the USA alone. It's hard to imagine that only six months ago, there were internet memes going around talking about how there were less than 100,000 cases and showing seasonal flu to be a bigger threat. Back in early March, there were less than 4,0001 COVID-related deaths across the entire planet. There were comparisons to Influenza showing that it takes 300,000 to 650,000 lives every year.

History is a Good Teacher

Posted on: September 7, 2020

Like many young adults, Lindsay took what her parents had to say with a grain of salt when it came to money. A new college graduate with an entry-level job, she was more interested in spending her paycheques than saving them. Saving was for later, she thought. Life was for living. When her father raised an eyebrow or offered advice, she brushed him off.

Then came the financial collapse of 2008. Lindsay lost her job and moved back into her parents' basement, regretting immediately almost every dollar she had blown.

Tags: 
investment planning

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