Opportunity Cost Impact of Your Daily Financial Decisions on Your Retirement Plans

As my husband and I approached our late 40s/early 50s, we decided it was time to solidify our previous hastily sketched plans for early retirement. We had worked hard for many years and skimped in places and were confident that we had done everything right to retire early and live our best early retirement lives. However, when we sat down with the numbers, we realized our dreams of an early retirement with travel and adventure were farther from reach than we thought. We both had well paying careers and didn’t feel that we had splurged so much that we should be this far behind. What happened? And, more importantly… How do we get back on track? Once panic-mode subsided, we sat down with some spreadsheets to see what had gone awry and figure out how (and if?) we could still retire early and be able to comfortably afford the things we wanted from retirement. Here’s what we did to right the (sinking?) ship...

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2021 Year-End Insights from An Independent Financial Advisor

Yet another year of your careful financial planning process has been disrupted by the pandemic – or has it?
These uncertain times have impacted our work, life, mental health, and financial security. However, if you have been reading my blog posts this year (and even further back), you will likely know the key to weather market storms: setting goals, making plans, and maintaining a focus on ongoing financial planning, without jumping off course as a result of ever-volatile markets (and world events).
Let’s look back at some of the most popular blogs of 2021 featuring this independent financial advisor’s musings…

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Behavioural Finance Focus: Cost Savings Tips to Attain Financial Freedom

As a personal financial advisor, I am often asked about “the secret” to attaining financial freedom. You are among the few drivers you have much control over. One great way to sharpen your financial acumen is by combining behavioural finance with an evidence-based perspective. By recognizing and understanding the basics of behavioural finance, you can fight those financial urges and focus on an evidence-based approach to wealth management. Are you ready to change your financial behaviour, uncover cost savings, and significantly improve your chance of reaching those long-term financial goals?

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Retirement Planning for Gen Xers: Build Wealth and Retire Happy

Family financial planning: focusing on your short-term and long-term financial goals. Are you a Gen Xer? Not quite a baby boomer, but too, ahem, mature to be a millennial? If you are in your 40s to mid-50s, your family financial planning has probably been on a wild ride lately. You may be wondering if you’ll ever get to retire with any wealth left to spend.

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Retirement Planning for Baby Boomers: Getting Ready to Retire Comfortably

Are you a baby boomer with retirement planning on your mind? If you’re among the surge of citizens born in a large urban center like Toronto and across North America during the 20ish years after World War II, you may be noticing a different sort of booming sound lately. Search the Internet for “Retirement Planning Toronto” and you’re likely to see a lot of fear out there, along with plenty of headline-grabbing stats on how ill-prepared many boomers are to retire. Following are some of the most frequent topics of conversation I’ve found key to achieving your short- and long-term financial goals in retirement.

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Thinking of Selling Your Business? Keep the Most Money and Minimize Taxes

You worked hard to build your business and the corporate assets that it has accumulated. If you plan to sell your business, even if it is 10 years from now, start working now to build a team of experts. You can better protect your financial interests and ensure you leverage all possible corporate financial avenues and tax strategies to retain your business’ value and support your (and your family’s) short-term and long-term financial goals.

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