There is almost always chatter in the media about the next possible correction or recession. The most recent buzz is about a possible US recession where Canada would likely follow suit. The chatter also includes opinion about a "soft" versus a "hard" landing, etc. The primary challenge for individuals trying to build wealth is that this background noise (chatter) has nothing to do with…you!

Pursuing your financial hopes and dreams involves navigating the ever-changing world and also your own desires, goals, and ambitions. Your desire to build assets (financial freedom) and financial independence remains the same - no matter what happens in the...

Inflation is a reality of modern life, and in recent years, it has become increasingly challenging to manage personal finances in a higher inflation environment. Higher inflation can lead to higher prices for goods and services, which can in turn make it harder to save money and plan for the future. However, there are steps you can take to successfully manage your personal finances in a higher inflation environment.

Budgeting - The first step to successfully managing personal finances is creating a budget. A budget helps you understand how much money is coming in and going out each month. This data can help identify areas where you can cut possible expenses. When establishing a budget, it is important to account for any increases in cost of basic goods and services. This may mean adjusting spending habits...

As individuals approach retirement, they must decide when to start receiving their Canada Pension Plan (CPP) payments. While the standard age to begin receiving CPP payments is 65, it is possible to start as early as age 60 or delay until age 70. This decision should never be taken lightly, as it can significantly impact an individual’s financial situation during their retirement years. In this article, we will explore the advantages and disadvantages of taking Canada Pension Plan payments early.

Advantages

Early Access to Funds - One of the chief advantages of taking CPP payments at age 60 is the early access to an extra source of income. This can be particularly beneficial for those wishing to retire early because of health concerns that may limit...