Even if you’re a Singleton like me, the implications of intergenerational wealth may have touched your life at some point. I like to think of intergenerational wealth as a faucet of income that helps younger generations to start their adult lives without debt. It’s a financial tool that allows young adults to master the skills […]
This week, I listened to a story that blew my mind! It was a testament to the power of consistency in investing, through good times and bad. Diane was her name – a lady in her 60s who’d survived divorce from an alcoholic, while raising 4 kids, taking 8 years to get her electrical engineering […]
“Daddy, can I have some money?” asks a 6-year old Blue Lobster. “Sure – let me go pick it off the Money-Tree,” Daddy replied, in a tone I can now identify as sarcastic. “Wait! What? There’s something called a Money Tree?” Little Blue Lobster thinks to herself. “I need to get one of those.” And […]
Go back and re-read the title until it’s burned into your brain. A Tax Free Savings Account – TFSA – is a wealth creation tool. So long as your money is under the tax-repelling protection of the TFSA, then the government will not tax your money. The second thing to remember is that the government […]
One of the best things about being a Singleton is that you alone are responsible for your financial choices. You need not debate each purchase nor do you need to compromise with anyone about how your household’s money will be spent. You have the freedom to choose which of your life’s goals to pursue and […]
For the past year or so, I’ve been fascinated by all the examples I see of intergenerational wealth. I like to think that it’s because my assessment of the FIRE movement and personal finance has become more nuanced. I’m always curious about and very intrigued by how people get the money for their first investment. […]
As the warm days of spring roll in and push harsh memories of winter to the recesses of your memories, you may find yourself enjoying the sunshine and asking yourself: What is exactly is dollar-cost averaging? I’m here to tell you that DCA can be a powerful tool for investors. In a nutshell, dollar-cost averaging […]
I really hate delivering bad news, but there’s no way around this. You’re not getting any younger. Time is marching on. You can fight it all you want, but the time will pass anyway. The important thing to do is focus your time, attention and energy on answering the following question – are you doing […]
Looking back, I’m certain that I made a money mistake when I chose to pay off my mortgage instead of focusing on investing. At the time, I was in my 30s and my mortgage was less than $100,000. I had bought my first home when I was 28 years old. I had a 25-year amortization […]
As we’re so often reminded in the media, fewer and fewer employers are offering defined benefit pension plans. These were the pensions that your parents and grandparents might have had – they worked a fixed number of years and their employers would pay them a fixed monthly pension from retirement until death. The defined benefit […]