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Avoid Financial Failure: Set Goals
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This is the second article in our series on the "6 Main Reasons People Fail Financially."
Recent studies have shown that as many as 60% of Canadians will not have saved enough money in order to adequately provide for their retirement. The problem for most people is not that they plan to fail, they simply failed to plan, adequately.
While many may have been conscientiously saving towards retirement, somewhere along the line they lost sight of their target. Either the target never existed or it was never very clear in their sights. Without a target, they can’t possibly know where or how high to aim. So, is it any wonder that most people won’t hit their target?
Continue...
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Insurance surrounds each of us every day: When you get in your car, when you come home to your residence, and while you work. Insurance is always in the background discreetly doing its job.
Most of us, however, do not think about it much or realize the very important function that all types of insurance provide. In fact, the role of insurance is so important that it is the focal point of a wise financial strategy.
Risk Transfer:
So what is insurance? Technically, it is the process of "risk transfer." When someone wants to be protected from a certain risk, they buy an insurance policy to reimburse them in the event the risk occurs.
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"There are three kinds of lies: lies, damned lies and statistics." As always, Mark Twain had a foresight that was centuries ahead of its time with this quote. Many investors--especially those already retired--would be wise to heed Twain’s advice regarding to the use of statistics in order to gauge the health of their investment portfolio.
Oftentimes, the averages used to describe performance are at real odds with the dollar value of the account and this can lead to a very risky situation for those investors relying on these funds.
As Joe Farnsworth from Toronto discovered, the return percentages that are given to you do not necessarily tell the real story of your investment portfolio performance. Joe retired 6 years ago from the Toronto Police Service from which he ...
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What is not started today is never finished tomorrow.
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Johann von Goethe
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Commissions, trailing commissions, management fees and expenses all may be associated with segregated fund investments. Segregated funds are not guaranteed, their values change frequently and past performance may not be repeated. Please read the prospectus of the segregated funds in which you invest. The information in this email newsletter is general information only and is not intended to constitute specific legal, accounting, financial or tax advice for any individual.
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Athabasca Financial Ltd. -
73 Athabasca Street West, Moose Jaw, SK S6H 2B6 -
Ph: (306) 694-1434
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