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Jan 13.11
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Personal Finances
/ by Ro Econ
Have you ever started a serious fitness program that involved one on one sessions with a personal trainer? Usually you’ll end up tracking habits you never tracked before which can be quite the eye opener. If you have a competent trainer they won’t lecture but merely use a matter of fact tone of voice and encourage you to persevere in the program set up for you.
What does that have to do with personal finances? Everything! Especially when you relationship isn’t with a trainer, but with a financial planner. So what constitutes a successful financial planning relationship?
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1 Comment
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Jan 01.11
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Personal Finances
/ by Ro Econ
Well here we are in 2011 already. December and the Christmas season whizzed by, but along came the credit card debt for all the gift buying done.
When it comes to your finances let’s start 2011 on a positive note–let’s approach our personal finances with a different take on the list of New Year’s resolutions.
Here are the top 10 factors that will enable you and your family to be financially successful. These tips are invaluable because they come from experience working with real clients like you and I. Real people and families have increase dtheir net worth making great progress towards a future of financial independence because they’ve taken control of their money.
Top 10 Personal Financial Recommendations for 2011
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Dec 30.10
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Debt Management
/ by Ro Econ
Uh oh, Canadians beware. Lately Americans have overtaken their Northern neighbors when it comes to savings versus spending. Canadians have more per-capita consumer debt than their US counterparts. Canadians can’t help but overspend what they earn despite the economic climate.
Turns out that credit cards are part of the problem. A team of economists from the Federal Reserve Bank of Chicago wrote a paper on the increase in consumer debt as a result of better credit card rewards. Here is their paper.
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Dec 22.10
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Foreign Exchange
/ by Ro Econ
The fall and dramatic rise of the Canadian dollar over the last 12 months is a prime example of the volatility that currency adds to Canadians’ global investments. What does this mean for financial investments? Put simply, the dollar increase meaning foreign investors a) would like to invest into Canadian funds because of the hot economy, however, b) the dollar is expensive which may scare some investors away. Higher demand for Canadian currency means shorter supply and higher prices.
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Nov 25.10
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Debt Management
/ by Ro Econ
The American economy is still struggling to return to pre-2008 levels. The housing market is still cold, and consumers are still hesitant to make big purchases. Many of those in financial trouble are find themselves faced with the decision to protect their assets through the process of bankruptcy.
The problems aren’t reserved for regular households anymore, entire cities are being put at risk. Let’s take a closer look at what’s happening in the consumer market in one of the major metropolitan areas in California–San Diego. Continue reading this article »
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Nov 22.10
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Macroeconomics
/ by Ro Econ
This post started off as a comment for our ‘Where do Banks Get Their Money?” article. It has now graduated to our top page for more exposure.
OK, quite a good few people have a good grip on the nature of the problem and there are slight variations expressed above but let’s now hear some more ideas about what can be done to save mankind before the banking system and the world money system goes totally belly-up. Money as a system is revealed to be a ponzi scheme. We all know that all Ponzi’s eventually run out of suckers as there is not enough of them to keep the system afloat. Soon, maybe very soon, we will all face this terrible collapse of the money system itself and social chaos would surely ensue. Continue reading this article »
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Nov 22.10
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Global Economics
/ by Ro Econ
How did we miss this, and where does all the freaking money come from? Government bailouts and the regular debt load of consumer nations like the US are padding the massive number of global public debt.
The US is suffering with no end in sight, but Canadians are also up ther ein the list. Interestingly, a similar economy in Australia pits the per-capita debt load at about 25% less….
Quite simply some countries are more forward looking than others.
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Nov 19.10
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Macroeconomics
/ by Ro Econ
So many conflicting reports. We’re in a bubble, we’re not in a bubble, there’s going to be a collapse, there won’t be collapse. Housing starts are up, housing starts are down. Who’s telling the truth?
It’s probably the case where all of the above are correct at some point in time. But there’s on irrefutable fact–Canadian are holding far more personal debt then ever before and our homes are the major component. With interest rates the lowest they can practically go, many Canadians have increased their debt load to purchase a home at bargain basement prices.
Two problems with that. Those looking to renew their mortgages can’t qualify because the drop in the home price exceeds the mortgage. The other issue is mortgage payments are only going up and that means those who can barely afford their payments now, or have to use credit to afford their lifestyles, will quickly drown. Continue reading this article »
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Oct 11.10
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Personal Finances
/ by financewriter
Of Government Shenanigans and Other Soggy Summer Happenings
Here’s a story about a dude named Dennis who had had a busy summer. To start, a few random financial tidbits he discovered.
In one survey of Canadians aged 35-44 90% agreed that it was important to have a financial plan in place at age 35. How many of those respondents actually walk the talk? Less than half did.(1)
Only one third of Canadians who were allowed to make RRSP contributions in 2008 actually did so.(2) Less than 28% of private sector employees have an employer sponsored pension plan.(3)
Most pension plans are now defined contribution plans where the responsibility for managing the portfolio has been passed from expert, educated professionals to the inexperienced, time deprived individual investor. Continue reading this article »
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Oct 05.10
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Macroeconomics
/ by Ro Econ
Not a new story for many, but is shows how economics is really a science on human behavior.
http://www.npr.org/blogs/money/2010/10/04/130329523/how-fake-money-saved-brazil
