Keeping up with the Joneses

Keeping up with the Joneses

Why do so many people feel the pressure to keep up with the “Joneses’”? Just because someone in your circle of friends is always buying the next “must” have item or trendy new car, is it worth spending the money to keep up? There is a fine line between setting trends and being sucked into…

The Cost of Summertime Fun

The Cost of Summertime Fun

As I’m spending time with my family at a lake cottage, I began thinking about the annual cost of all the boats, skidoos and other water crafts flying by the dock. Whether it’s a camper trailer, RV, skidoo or power boat the cost of these vehicles will be incurring all year around. Going to a…

Do you need a CPA?

Do you need a CPA?

Tax planning should be done throughout the year, not just December to April.  I’m not a CPA and won’t be given any tax advice, however from July to November is a good time to look for a CPA.  Both you and the CPA will have time to meet and discuss your tax situation and the best…

In retirement savers don’t know how to spend.

In retirement savers don’t know how to spend.

Within my financial planning firm, I have a platinum group of clients who saved their entire working life for the future.  Their drive to save and be financial secure superseded any and all impulse buys, and drift from their budgets . As they enter their first several years of retirement their greatest challenge facing them is…

Is there a disconnect between spending and money?

Is there a disconnect between spending and money?

It’s easier than ever to spend money without even knowing it. Once upon a time, there were only three ways to spend money: Cash, Check or Charge. Now there is an app for everything and your money can flow direct from your bank account to PayPal, Uber, Park & Pay, the App store, iTunes, Fresh…

Until Debt Due Us Part.

Until Debt Due Us Part.

When working with couples,  one issue that always comes up  is secret debt.   Whether it’s credit card, student loans, IRS liens or monies owed to family and friends, it is surprising how often one spouse springs debt on the other partner after the wedding.  Unfortunately, for the unknowing spouse it’s a complete body blow. Getting…

Financial Planning is for the Now and the Future.

Financial Planning is for the Now and the Future.

After reading the article, “The value of planning for now” by Carolyn McClanahan, I was not sure if this was new. Financial planning needs to be done for everyone at all stages of life, not just those who have enough investable assets to hit the minimums required. As I meet with clients a common obstacle that…

Millennials’ Student Debt is negatively impacting the Baby Boomers.

Millennials’ Student Debt is negatively impacting the Baby Boomers.

Student debt has multi-generational impact on financial wellness: by Sheryl Smolkin at Retirement Benefit Adviser. Today the new conundrum facing many parents is: Do they save for their children’s college education now or wait and help them with their student loan debt later? Saving now, for college education may mean holding off on a vacation or buying a new car….

News flash: It appears Prince didn’t have a Will:

News flash: It appears Prince didn’t have a Will:

Prince died without a Will, According to Court Documents Filed by His Sister. What does Prince have to do with financial planning?  Well everything. For an artist who was reported to  have complete control over every part of his life and music, Prince passed away without a plan for his death.  Like all of us, Prince didn’t…

Penny wise, pound foolish

Penny wise, pound foolish

As a CFP®, I work with clients everyday guiding them through the process of finding the balance between spending and saving.   The British saying, “Penny wise, Pound foolish”, means, watching your pennies and ignoring your dollars. While it is important to respect your budget, there are things in life which you need to maintain for…