Who wouldn’t want a statistic indicating whether your accumulated wealth will support you throughout retirement across a randomized series of investment returns?
This article compares two brothers – named after a self-proclaimed penny-pinching comedian – who deploy two very different RRIF withdrawal strategies and explains the difference in their estate taxes
This article offers the most thorough introduction to personal finance for women that I have read in a long time.
Devote a few minutes to tax planning before the holiday celebrations begin. Many strategies take a few days to process so doing them now will ensure that you won’t miss out on the December 31st deadlines.
This article explains the commonly-held notion that retirees who withdraw the equivalent of 4% of the portfolio in the first year of retirement and then adjust this dollar amount for inflation each year would enjoy a 30 year retirement without running out of funds.
The financial planning industry has evolved since I began in it 20+ years ago. Initially, we referred to “goals-based” planning to help clients to articulate what they want their money to do for them. Instead of “retiring comfortably” we helped clients to describe “retiring with an annual lifestyle costing $50,000 per year in today’s dollars”.
As a student of financial behaviour for over 20 years, I am always impressed with a phenomenon that can be expressed succinctly and explains our motivations broadly. This article describes the Diderot Effect – the way in which one purchase can beget another.
Investors often switch advisors during a market downturn because they are disappointed in their return on investment and believe that they could do better elsewhere. But research shows that staying invested – rather than liquidating your portfolio and starting all over again – is necessary to achieve the long-term performance that is required to support your retirement goals. Sounds like a pretty clear case of FOMO to me.
I am often invited to deliver seminars/webinars to corporate groups. Some call them “Lunch and Learns” others request half-day workshops. The feedback from participants has always supported this article’s thesis: that “the tangible impact on employees of financial education can be life-changing”.
Financial resilience is the most-important thing that I can impart to a client. Over time, that resilience can come in the form of protection against risk, coaching through market downfalls and tax-efficient harvesting of accumulated wealth.