5 Costly Money Mistakes Millenials Make
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If you’re a millennial, you’ve probably heard the usual money advice: save early, spend less, invest smart. But let’s face it–real life is busy, expensive, and unpredictable. Still, there are a few money habits that can quietly sabotage your future if you’re not careful. Here are five of the most common ones to watch out for:
1. Not Taking Saving Seriously
Time is your best financial ally. The earlier you start saving, the more your money can grow. But many millennials still aren’t making the most of it. A 2024 MyBankTracker survey found that less than half of millennials are actively investing, and many keep too much cash on the sidelines. Even just setting up automatic...
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Active vs. Passive Investing: Your Best Bet
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The debate between active and passive investing has been going on for decades–and for good reason. Both approaches have their strengths, but choosing the right one can make a big difference in whether you simply meet your goals or exceed them.
Why You’re Investing in the First Place
Most people invest with two goals in mind: protect what they have and grow their wealth. If your goal is to retire comfortably, you might be aiming for something like $50,000 a year in income. That typically requires close to a $1 million portfolio generating around 5% annually. The problem? Many Canadians aren’t even close–average RRSP balances are about $60,000, and even many Boomers have just over $100,000 in liquid savings.
So, playing it too safe–say, sticking with GICs–might keep your money secure, but it likely won’t grow...
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Why Everyone Needs an Estate Plan
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Ralph had always worked hard for what he owned. But after watching friends and acquaintances struggle with messy estates, he realized that without a proper plan, everything he’d built could be left in chaos.
Take Vivian, for example. She remarried and decided to save money by using a do-it-yourself will kit. Unfortunately, she overlooked obligations from her late husband’s will. Untangling the mess took years and cost thousands in legal fees. Worse, her heirs had to pay taxes on income they never even saw because her assets were tied up in trust.
Then there was James, a farmer whose land was eventually annexed by a growing town. When he died without a will, it took nearly a decade to settle things–stalling both his estate and the community’s...
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Don’t judge each day by the harvest you reap but by the seeds that you plant.
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Robert Louis Stevenson
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Advantage Securities is a trade name of Aligned Capital Partners Inc. (ACPI) used for investment business. ACPI is regulated by the Investment Industry Regulatory Organization of Canada (www.iiroc.ca) and member of the Canadian Investor Protection Fund (www.cipf.ca). The information contained in this publication has been compiled from sources believed to be reliable, but no representation or warranty, express or implied, is made by Aligned Capital Partners Inc., its affiliates or any other person as to its accuracy, completeness or correctness. All opinions expressed in this communication are as of the date of this publication, are subject to change without notice and are provided in good faith but without legal responsibility. Nothing in this publication constitutes legal, accounting or tax advice or individually tailored investment advice. This material is prepared for general circulation to clients and has been prepared without regard to the individual financial circumstances and objectives of persons who receive it. Products or services referenced may not be suitable for you and it is recommended that you consult your advisor if you are in doubt about the suitability of such investments or services. This is not an offer to sell or a solicitation of an offer to buy any securities. Investment products are provided through ACPI and include, but are not limited to, mutual funds, stocks, and bonds. All non-securities related business conducted by Ryan Peterson of Advantage Financial Services is not in his capacity as an agent of ACPI. Non-securities related business includes, without limitation, fee-based financial planning services; estate and tax planning; tax return preparation services; advising in or selling any type of insurance product; any type of mortgage service. Accordingly, ACPI is not providing and does not supervise any of the above noted activities and you should not rely on ACPI for any review of any non-securities services provided by Ryan Peterson. Past performance is not indicative of future performance, future returns are not guaranteed, and a loss of original capital may occur. Every province in Canada has their own laws regulating the types of securities and other investment products which may be offered to their residents, as well as the process for doing so. As a result, any securities discussed in this report may not be eligible for sale in some jurisdictions. No matter contained in this document may be reproduced or copied by any means without the prior consent of the author or ACPI.
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3222 Fairway Street South, Lethbridge, AB T1K 8A3
Ph: (403) 381-9195
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