Wealth Management Archives

Play It Again, Steve – Timeless Financial Tip #10: Making Legacy Planning More Meaningful

Post published:November 6, 2023

Let’s face it: When families list their favorite financial planning projects, legacy planning rarely makes the cut. It may feel as if you're putting the emphasis exclusively on death and taxes, rather than your lifetime pursuits such as building a career, pursuing your personal interests, stewarding your kids into adulthood, and retiring in style. Then again, I believe the term “legacy planning” is misleading to begin with. It sounds so dry and formal—as if it’s only for uber-rich, multigenerational dynasties, or the tail end of your lifespan. No wonder most people put off planning for it. In reality, legacy planning can be worthwhile for almost anyone. And it’s not just for later in life; key aspects of it can help you enjoy a more enriched life today. In today’s Timeless Tip, we’ll cover the possibilities.

Play It Again, Steve – Timeless Financial Tip #9: Beware of Big Banks’ Conflicted Financial Advice

Post published:October 5, 2023

There’s only so much you and I can do about life’s many surprises. Some things just happen, beyond our control. Fortunately, to make the most of your hard-earned wealth, there is one huge and timeless best practice you can control: You can (and should) avoid seeking unbiased financial advice from biased sales staff. How do you separate solid investment advice from self-interested promotions in disguise? Here’s a handy shortcut: Are the investments coming from your friendly neighborhood banker? If so, please read the fine print—twice—before buying in. Due to inherently conflicting compensation incentives, most banks’ investment offerings are optimized to feed their profit margin, at your expense. Read on to understand how and why bank employees may not be your best source of independent financial advice.

Play It Again, Steve – Timeless Financial Tip #8: 6 Enduring Insights for Fixed Income Investing

Post published:September 7, 2023

When’s the last time someone tried to talk you into chasing a “hot” Treasury bond run — NOW, before it’s too late! Probably never, right? Most of us recognize that’s not what fixed income investing is for. Bonds create stability; stocks and alternatives are where the excitement is at. And yet, I often see people forgetting this timeless truth, or at least investing as if they have. Plus, to further complicate things, not all bonds are created equal. This can trick you into thinking you’re playing it safe … Following are 6 best practices for fixed income investing across all kinds of markets, whether rates are rising, falling, or in a holding pattern.

Play It Again, Steve – Timeless Financial Tip #7: 6 Steps to Retiring as Planned

Post published:August 4, 2023

Retirement isn’t the only reason to set aside current income for future spending. But since it’s usually the elephant in the financial planning room, it’s worth a Timeless Tip of its own. Following are 6 ways to leverage lifelong financial planning, so you can retire on your own terms and on your own timeline.

Play It Again, Steve – Timeless Financial Tips #6: Aligning Your Investments with Your Investment Time Horizon

Post published:July 10, 2023

I’ve spent my entire career railing against the dangers of market-timing—i.e., dodging in and out of markets based on current conditions. But there is a time when “timing” of a different sort matters. I’m talking about your investment time horizons. Today, let’s look at how to use your personal time horizons to successfully separate today’s spending from tomorrow’s future wealth.

Think Smart Podcast – Advisor Series with Financial Advisor Steve Lowrie

Post published:December 5, 2022

Recently, I sat down with Rob McClelland to join an episode of the Think Smart with TMFG podcast. Rob is with McClelland Financial Group of Assante Capital Management. We had a great conversation and I had the opportunity to describe my core business values and strategies on investing including... click through to find out.

Accelerating Your Legacy Planning by Gifting In Advance

Post published:January 25, 2022

Instead of your excess wealth being distributed after you die, you may find even greater value in giving some of it away while you’re still around. Properly managed, making gifts and charitable donations while you’re alive can offer solid tax-saving benefits to you and your estate financial planning. In particular, targeted charitable giving can be a powerful tool for business owners and similar professionals who are approaching retirement and facing high-tax events, such as selling their business, or exercising highly appreciated stock options. As importantly, it can be incredibly rewarding to witness the results of your generosity. Don’t underestimate the value this intangible benefit can add to your life and legacy planning.

2021 Year-End Insights from An Independent Financial Advisor

Post published:January 11, 2022

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…

Behavioural Finance Focus: Cost Savings Tips to Attain Financial Freedom

Post published:November 22, 2021

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?

Retirement Planning for Gen Xers: Build Wealth and Retire Happy

Post published:October 15, 2021

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.