Financial Wisdom

February 2024

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These Financial Mistakes Can Cost You

Some financial decisions are made without enough thought given to the long term consequences. TIME – a critical element for any successful long-term financial strategy – can affect different situations quite dramatically. Here are some financial mistakes you should try to avoid:

Mortgage amortized too long:

With lenders offering 30 year amortization periods, it may look attractive to go with a smaller monthly payment to get into a larger house, but the extra interest charges only benefit the lender.

Rick and Jane are contemplating a $500,000 mortgage on a...

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Personal Finance & Job Transfers

These days, having a career presents many more new rewards and challenges than it ever used to. What we used to take for granted – including our work location – can sometimes change dramatically as companies continue to change and adapt to new economic situations.

This can be great for a business and its bottom line, but really tough on the employees within it. Because we never know exactly what the future holds, you may find yourself facing a job transfer at some point along your career path.

Whether you have already completed a job transfer, are facing a potential transfer, or are in the process of transferring to a new city, there are many things to consider in relation to your overall financial plan.

New Place Equals New Expenses

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Maximizing Your Retirement

Bob and Lisa are wondering just how their retirement will turn out. After all that’s happened over the past few years, their RRSP accounts haven’t grown as much as they had expected. Even in the best of times, they weren’t saving as much as they could have been, at least for all their post-retirement desires.

The good news is that this is not a black-and-white topic. If you fail to save as much money as you want, then it just means that you’ll have a little less and life will go on. It doesn’t automatically turn your retirement into a disaster. Bob & Lisa are learning they just need to learn to live within some new boundaries.

Ellen retired a few years ago. Plunging interest rates have reduced her anticipated GIC income. Despite this, she counts herself lucky as...

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Develop success from failures. Discouragement and failure are two of the surest stepping stones to success.

Dale Carnegie

Commissions, trailing commissions, management fees and expenses all may be associated with segregated fund investments. Market performance of segregated funds is not guaranteed, their values change frequently, and past performance may not be repeated. Please read the prospectus of the segregated funds in which you invest. The information in this email newsletter is general information only and is not intended to constitute specific legal, accounting, financial or tax advice for any individual.

Krueckl Financial Services Inc.
875A Columbia Ave, Castlegar, BC V1N 1H3
Ph: (250) 365-7777