One day you decide to walk into your bank to see if your advisor is working. You were nearby and wanted to ask him a question about your investments. You walk up to the reception and ask to speak to him. To your surprise, you are informed that you have been assigned someone new.
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When building a financial plan it is important to fully analyze an individual’s income source and benefit arrangements. By doing so, a proper strategy can be put in place to maximize a person’s wealth and guide them towards accomplishing their financial goals.
As a public servant, some of the strategies employed can be quite different when compared to someone working in the private sector. Although the government’s pension and benefits are typically top of the class there may be specific ways that government employees can do even more with the money they receive.
Read MoreFees, nobody likes them. Everywhere in life these dreaded additional costs follow us around, from the additional charges on your hydro bill, to environmental fees when you buy a laptop, and of course the banks hitting you with a multitude of fees.
When it comes to your investment portfolio your ultimate goal is to grow your money. However, the costs associated to your choice of investments may very well be eating away at your potential growth and eroding your chances of achieving a positive return. Think of fees as a loss on your investment. Your investments must grow enough during the year to cover this fee just so you can break even for the year. The higher your investment fees, the harder it is to grow your money over the long-term.
Read MoreThe landscape of the investment industry has drastically changed in the past decade. If I asked you ten years ago if you knew about Exchange Traded Funds (ETFs) you would have likely paused and questioned the meaning of the three letter acronym they are most commonly known by.
Read MoreFor some, the word Astrolabe may be puzzling.
This is not surprising as this incredible little instrument called an astrolabe was created over 2000 years ago and has long been replaced by new technologies.
Read MoreYou received your tax return today!
Now, what should you do? That new 3D smart TV would look great in the living room! Or a trip down South would do wonders in helping you forget the long arduous winter we’ve just experienced.
Although the urge to spend this sudden windfall today may seem irresistible, you should take a few breaths and consider options that will make that money work for you.
Read MoreMany of us are familiar with the popular saying; “there’s no such thing as a free lunch”. Essentially, to get one thing that we like, we usually have to give up something else. In finance, the trade-off is between risk and return. For example, the day to day fluctuations in the value of a stock are much larger than those of a government bond. Risk is typically compensated through a higher expected return. The ultimate goal is to have a portfolio of investments that obtains the best return for the amount of risk you are taking.
Read MoreAs baby boomers retire, the strain on pension funds has been immense as they will have to meet increasingly large future liabilities. Due to this situation, the past decade has seen a sharp shift towards employers offering defined contribution plans instead of defined benefit plans. Why the big shift? By taking a look at both plans you may notice why employers have been opting for one over the other.
Read MoreTo have a healthy diet typically requires you to eat a variety of foods that will allow you to obtain the nutrients necessary to keep your body functioning at its optimal capacity. It is not without reason that your parents wanted you to have your vegetables!
You may be wondering, “Why in the world is he speaking about nutrition? I thought this was about finance!”
The fact is the concept of a well-balanced investment portfolio closely mirrors that of a healthy diet.
Read MoreWhat qualities do you look for in your financial adviser?
When asking a few clients recently, the most common answers mentioned were: integrity, honesty and accountability. It is no surprise that clients are inclined to choose an honest adviser. After all, there have been many scandals in the financial industry from Bernie Madoff to Earl Jones that have made many investors think twice when choosing an adviser.
Read MoreBased in Ottawa, Ontario, Astrolabe Financial Group Inc. is a fee only financial planning firm. It was founded by two financial advisors that were troubled by the lack of fee-for-service financial planning accessible to the average Canadian. Most locally based Financial Advisers and Financial Planners appeared focused on selling financial products and not providing financial advice and education.
The company was founded in November 2011, the first ever Financial Literacy Month in Canada. We pride ourselves in providing sound financial advice and improve our clients’ financial literacy during the process. It is then fitting that Astrolabe Financial Group’s anniversary will always fall in Financial Literacy month.
Contact us to learn more about our services and how we can help you and your family navigate the treacherous Canadian financial landscape. Let us steer you to calmer waters.
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