How to Achieve Personal Financial Success
|
As the recent pandemic crisis made its way around the world, creating havoc in its wake, we can be thankful most Canadians were able to weather the storm in fairly good financial shape. In 2023, the recent rise in interest rates has become the biggest concern with many people wondering how higher rates might impact their financial and retirement plans during the next few years.
While nobody can ever solve national or international crises personally, we can still focus on our own financial situation. Here are 5 keys for achieving sanity in your personal finances:
Reduce Your Debt
If we have learned anything from the recent rise in inflation and interest rates, it’s that too much debt can...
|
|
|
TFSAs: Leveraging the Benefits
|
The Tax-Free Savings Account (TFSA) was introduced in 2009 to offer Canadians an incentive to save over their lifetimes. TFSAs provide tax-free growth, flexible investment options, and easy set-up and withdrawals, making this registered account a powerful tool for financial well-being. Below are some key features.
Below are some key features:
Save for anything
TFSAs can be used to save for anything, like purchasing a car or home, paying for education, travel, emergency funds and long-term financial goals.
Control, flexibility and diversification
TFSAs offer an excellent diversification tool for...
|
|
|
If you are a prudent investor, then you have a financial retirement plan that will ensure you have sufficient funds for the lifestyle you envision after you stop working. What constitutes sufficient depends on your ambitions and your hobbies, and also on how long you live. People are living longer, and it’s not unreasonable to think that you could live into your 90s.
It can be quite sobering to think that you will live for 25 years after you leave employment. We are conditioned to believe that in retirement, our portfolio should be solely in safe investments, as without work there is no guaranteed pay cheque anymore.
The rule of thumb used to be that by making a calculation of 100 minus your age you could roughly determine how much of a portfolio should be invested in growth-orientated investments; so at 65 you would aim for 35% in equity investments and...
|
|
|
|
|
|
|
|
| |
| Online Resources
|
|
|
|
Setting goals is the first step in turning the invisible into the visible.
|
|
Tony Robbins
|
|
|
|
Manulife, Manulife & Stylized M Design, Stylized M Design and Manulife Securities are trademarks of The Manufacturers Life Insurance Company and are used by it, and by its affiliates under license. Manulife Securities Incorporated is a Member of the Canadian Investor Protection Fund. Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. Please read the prospectus before investing. Mutual funds are not guaranteed, their values change frequently and past performance may not be repeated. Ryan and Wayne Stephenson and Manulife Securities Incorporated and Manulife Securities Insurance Inc. ("Manulife Securities") do not make any representation that the information in any linked site is accurate and will not accept any responsibility or liability for any inaccuracies in the information not maintained by them, such as linked sites. Any opinion or advice expressed in a linked site should not be construed as the opinion or advice of Ryan and Wayne Stephenson or Manulife Securities. Stocks, bonds and mutual funds are offered through Manulife Securities Incorporated. Insurance products and services are offered through Manulife Securities Insurance Inc. (a licensed life insurance agency and affiliate of Manulife Securities) by Manulife Securities Advisors licensed as life agents. The information in this communication is subject to change without notice.
|
|
Stephenson Wealth Services
237 Mapleview Drive E, Unit 3A, Barrie, ON L4N 0W5
Ph: (705) 726-4433
|
|
|
|
|
