Your Financial Dream Killer
Posted on:Despite what many people think, the number one financial dream killer isn't portfolio losses, or financial emergencies, or unemployment, and not even natural disasters. The number one reason people fail to reach their financial goals is procrastination - putting off the inevitable until the cost of your dreams or goals become prohibitively expensive. Why People Procrastinate Fear of failure:…
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Buying and Selling the Business when an Owner Dies
Posted on:Like many business owners, Rick and Warren thought it would be a simple process to continue the business when one of them died. Nothing could be further from the truth. Rick and Warren had a printing company and were equal partners. Warren died suddenly. Warren's shares passed to his widow, Sarah, who became Rick's new partner. She expected a regular paycheque to continue, even though she knew…
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Looking at Investment Returns
Posted on:A major Canadian financial institution ran an investment promotion earlier this year that promised attractive returns for GIC-type investors, who needed higher returns to generate income. While dealing with an advisor from this particular institution on another matter, the conversation turned to the details of their offer. The highlighted promotion offered a much higher monthly income than a…
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Be Prepared For Emergencies & Opportunities
Posted on:Randy worked for a small business. When the owner died suddenly, the business accounts were frozen and it took several weeks before they could be accessed to meet payroll. Randy had trouble meeting his financial obligations and had to find a new job. Jane worked at a small company for many years. When the owner decided to retire, she offered to sell the business to Jane. As she didn't have the…
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Will I Need Long Term Care?
Posted on:Many mistakenly believe that if they need Long Term Care, either in their home or in a facility, the cost will be covered by provincial health care or other government agencies. While certain programs are available, a large portion of these costs become the responsibility of the patient or their family. John and Ellen, in their early sixties, retired. They were looking forward to traveling and…
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