YES, IT CAN! Before we take the required steps to address the Rule of 72’s impact on your retirement; let us take one step back and explain the mysterious mathematical formulae.
At the Money Café Corp, we are recommending our clients and associates read, understand, and refer to this book as the template for our (collective) multi-faceted recovery plan, as our goal is to provide practical solutions to real problems caused by COVID-19.
Research indicate Canadians are seeking easily implemented and practical solutions to the myriad of financial concerns triggered by this pandemic and we believe, this guide can serve as a ‘subliminal’ reminder and ‘go-to resource’ to overcoming our financial concerns.
This article is our 135 created for the Durham Citizen News and hosted on multiple social media platforms including Facebook, Linkedin and Alignable...
Based on current financial statistics and economic trends; we know 5% of Canadian High Net Worth individuals work closely with their financial advisor, who most likely manually created a well laid out; written and structured financial plan. This plan creation process includes the use of stand-alone
financial calculators; with each calculator performing a specific function.
As much as we would like to see the number of Canadians who have financial plans closer to 50%
rather than 5%; we all know; advisor controlled financial plans are more robust and even more notably,
the report is subjective; not objective.
Step 1 in our wealth management process is to create a detailed and objective financial plan. At the Money Cafe/Retire-Rite Lifestyle Solution; before we begin taking a deeper dive into your financial life; we create your personalized financial plan.
Before we get into the nucleus of this article; I would like you to trust me; for the next 2 or 3 minutes. Do not worry; it is a very safe ‘virtual’ trust request. I would like you to close your eyes for a moment; take 3 slow rhythmic breaths; in thru your nose; out thru your mouth and clear your head from distractions.
I want you to visualize and or imagine your retirement lifestyle; what is your daily routine like; where are you living, are you living close to friends or family, who are you ‘chilling' or hanging out with, and are your children and grandchildren living close by or far away?
You see retirement planning is not only about the size of your retirement nest egg, but the pleasure and benefit you will derive from it...
At the Money Cafe/Retire-Rite Lifestyle Solution; we encourage our retiring or already retired clients to review their retirement plan at least 2 times a year. Let us face reality, life can change in a twinkle of an eye and your plans can be derailed without noticing the small 'bumps...
The average Canadian saved more than $5,000 in the pandemic. But what will they do with that cash?
Kyle Bakx · CBC News
If there is one silver lining to the COVID-19 pandemic for Grayham Havens, it was celebrating his two-year anniversary with his wife by purchasing a house last month.
All the government restrictions during the pandemic helped him drastically reduce his spending over the last year and begin socking away cash every month. After clearing leftover debt, the couple saved enough for a down payment.
Now, at the age of 40, Havens is a first-time homeowner. "We're so fortunate, very fortunate, to get something like this," he said about their grey bungalow in southeast Calgary, complete with a large deck, fire pit and pond in the backyard.
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