Understand the emotional side of financial planning
Many financial advisors focus on the practical aspects of financial planning when developing retirement portfolios with their clients. They will discuss the features and benefits of various investment options, tax implications, risk levels, sources of revenue and expenses that could affect retirement, insurance and long-term care riders, and other matters. The emphasis is mostly logical […]
With the Limits Raised, How Much Should You Invest Offshore?
Over the last few years, the government has slowly been raising the limit on how much investors in pension funds and retirement annuities could hold offshore. At this year’s budget, this was raised from 30% to 45%. The decision has been widely welcomed because it has some very positive implications. While there are some […]
Is Your Business Good Retirement Capital?
Why don’t entrepreneurs diversify for retirement? Apart from optimism, confidence and risk tolerance, the main reason entrepreneurs keep reinvesting in their businesses as opposed to building up a separate investment portfolio, is that they believe that the return on capital from the business is greater than the return on other investments. The concept of retirement […]
How Relevant Is The 4% Rule of Thumb These Days?
The basics If you’ve never heard of the 4% rule, now would be a good time to acquaint yourself with it. The rule of thumb states that: If you withdraw 4% from your retirement portfolio annually (adjusted for inflation), your savings will last for 30 years. (Assuming that you’ve invested in a balanced portfolio, comprised of […]
Stay Calm When the Bear Prowls
“Courage taught me no matter how bad a crisis gets … any sound investment will eventually pay off.” (Carlos Slim) Hold onto your chips when the market dips When stock markets fall, it’s very natural to want to sell your shares and invest in less risky assets like cash and bonds, in an attempt to […]
11 Key Ways To Improve Your Money Mindset
When it comes to improving your personal finances your money mindset is a critical foundational piece. Your goals may revolve around becoming debt-free, saving money, investing, getting to 7 figures in savings but without the right financial mindset, it will be really difficult to accomplish. These days all it takes is a quick Google search and within seconds you’ll […]
The Psychology of Money: What You Need To Know To Have A (Relatively) Fearless Financial Life
No one is entirely rational when it comes to money. We don’t create and follow a budget or save something every paycheck though we believe it would be in our best interest. We know we need a financial plan but put off the work involved; somehow it never happens. We spend too much out of […]
7 Emotions and Their Affect On Your Finances
One basic principle that can help everyone manage their finances better is understanding money is emotional. It was one of the very first lessons my father taught me because he knew I needed to be able to recognize when my emotions were interfering with my ability to make value-based decisions, thus slowing down or preventing […]
Set SMART investment goals for long term financial success
Indeed, goals are vital to leading a successful and happy life. You need to know what you want from your personal life, what you hope to achieve in your career, and how you want to experience retirement. Without goals, life can become a series of muddled events. I’m going to take it one step further […]
