Flattening the Curve vs Flat-lining the Economy

Shutdown of the Canadian economy under the Carona virus has come fast and hard. Restaurants shut down, Hotels as 5% occupancy, airlines laying off employees by the 1,000s. March Employment Insurance applications reached nearly 1 million by the end of the third week, representing 5% of the Canadian Workforce. Unessential businesses have been shutdown along …

Traits of the Wealthy: Discipline and Consistency

Key attributes to achieving financial success and creating wealth for your family are 1) discipline and 2) consistency. Its not luck or good fortune. Its not winning the lottery or inheriting money. It isn't spending on posh cars and clothes. Its the ability to be financially disciplined on a consistent basis. Financial discipline comes in …

7 Ways for Canadian Families to Get Ahead

These 7 steps will help Canadian families build wealth and get ahead. Being able to get ahead through the daily grind of family life is important for successful future. Measure your net worthGet on a budget, or at least track your spending.Cut out the unessential expensesGet out of debt and stay out of debtBuild a …

Wealth Gained Hastily, Dwindles.

Wealth built hastily, dwindles.

TFSA vs RRSP

In a recent Financial Post article, "Are RRSPs really work it? The answer may surprise you" linked below, the author gets into the math of compounding with pre and post tax investments. Its an interesting exercise to see how best to grow net worth and tax implications for your heirs. https://business.financialpost.com/personal-finance/retirement/are-rrsps-really-worth-it-the-answer-may-surprise-you The trouble with using …

Life advice: Take action

My mother, who shaped most of my life and who died from a 2 decade battle with cancer when I was 23, once said to me, "no matter how good you think you are, there is always somebody out there better." Shocking to hear when you are an idealist teenager. But brilliant advice as it …

Book review: Total Money Makeover, by Dave Ramsey

Dave Ramsey is a radio show host of the Dave Ramsey Show out of Tennessee in the US. His concepts offer followers the ability to achieve financial peace. The basics of his concepts are presented in his book, The Total Money Makeover. Dave introduces easy to follow baby steps to financial freedom. These steps aren't …

Everybody Wants Some

With shout out to Van Halen and their 1980 hit, Everybody Wants Some. Van Halen (with David Lee Roth) one of the greatest rock bands. First lesson to be learned when you enter the work force, and begin supporting yourself is everybody does want some. Everybody wants a piece of your pay cheque. It was …

Working Teens

I've debated with colleagues if teenagers should hold a part-time job. There are two camps to this discussion: Those who think strict focus on school work is most important. And those who want their kids to develop a work ethic. I'm clearly in the camp teenagers should hold down a part-time job. There are the …

You have to measure it to expect progress.

Turning 30, I thought, would be a difficult birthday to digest. It represented not necessarily the beginning of the end. But, perhaps, the end of the beginning, to paraphrase Churchill. A distancing from youth and innocence. As it turned out, turning 30 was a breeze - it was turning 29 where I had the challenge. …