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Retirement

Income Sources, Needs and Wants in Retirement

Some time ago on this site I wrote one of the biggest retirement questions and potentially one of the most frequently asked retirement questions is “How much is enough”? The answer to this question is usually, it depends. It largely depends on what you’ll spend in “retirement”. I was thinking about that subject recently including some needs and wants, and forecasting where (I hope) some our retirement income will come from. Here is what crossed my mind in today’s dollars: Needs per month – Home ($1400) Home maintenance ($400 per ...
Goals

2015 Financial Goals

Over the last couple of years I’ve posted our financial goals on My Own Advisor.  Some fellow bloggers have noted this might be a bold move but I don’t consider it too daring.  Other bloggers have reported on their goals for certain reasons but here are my reasons for doing so: I believe all goals should be clear and transparent, I believe all goals should be realistic, I believe all goals should be measured, and I believe all goals should be documented. In my day job and industry, if things are not documented they didn’t happen.  ...
Christmas

Year End Financial Housekeeping

The marketing campaigns are in full swing and people at work are becoming more edgy by the day.  Yup, it’s Christmas time again! Kidding aside this is a great time of year and I’m looking forward to the holidays with family.  Christmas signals the end of some old and the birth of something new.  It’s also a great time of year to address some year end tax issues, give to charity and revisit some financial stuff before it’s too late.  Here are some year end financial housekeeping tips based on what we’ve done. Realize capital ...
Goals

2014 Financial Goals December Update

To keep me honest and focused I post my financial goals on My Own Advisor.  One thing I’ve learned over the years is I have a much better chance at realizing my goals if I keep tabs on them, and often. Here’s a recap of what we tried to accomplish starting in early 2014: Continue putting $300 lump sum payments on our mortgage every month ($3,600). Maximize both Tax Free Savings Accounts (TFSAs) ($11,000). Increase Registered Retirement Savings Plan (RRSP) contributions by $200 per month ($2,400). I’m very proud to report we nailed every ...
Goals

2014 Financial Goals – September Update

To keep me honest and focused I post my financial goals on My Own Advisor.  One thing I’ve learned over the years is I have a much better chance at realizing my goals if I keep tabs on them, and often. Here’s a recap of our original 2014 financial goals: Continue putting $300 lump sum payments on our mortgage every month ($3,600). Maximize both Tax Free Savings Accounts (TFSAs) ($11,000). Increase Registered Retirement Savings Plan (RRSP) contributions by $200 per month ($2,400). Here’s our report card with just less than four months to ...

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