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Author: Bloom Investment Counsel, Inc.

Post Retirement Planning – Have You Saved Enough?

Written by Bloom Investment Counsel, Inc. on . Posted in Retirement. No Comments on Post Retirement Planning – Have You Saved Enough?

retired couple with saved money

As you approach retirement, it’s natural to start thinking about whether you have saved enough to support yourself in your golden years. Post-retirement planning is crucial in ensuring financial security and peace of mind during this phase of life. The key question that arises is: have you saved enough?

Saving for retirement is a topic that requires careful consideration and proactive action. It’s important to assess your current savings, investment strategies, and projected expenses to determine if you are on track to meet your retirement goals.

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Passive Income Secrets You Should Know

Written by Bloom Investment Counsel, Inc. on . Posted in Investing. No Comments on Passive Income Secrets You Should Know

passive income, written on paper

Passive income is money that you earn without too much effort on your part. It does not include employment income or income you may derive from a side business that requires significant physical or mental energy.

Passive income should require little or no daily effort to maintain.

That being said, you do have to do some initial work to develop a passive income strategy and set it in motion. Some may think that passive income requires little or no effort to set up. However, it does require planning and often an upfront investment.

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How to Manage Your Finances for the 3 D’s — Divorce, Disability, and Death

Written by Bloom Investment Counsel, Inc. on . Posted in Wealth Planning. No Comments on How to Manage Your Finances for the 3 D’s — Divorce, Disability, and Death

woman typing on a laptop and looking at a calculator to manage her finances

In life, we often face unexpected challenges that can greatly impact our financial stability. Among these challenges, three significant events stand out: divorce, disability, and death. It is crucial to manage our finances in relation to these situations so that we are equipped to navigate through them with minimal disruption. How would you want your finances handled if you died, were going through a divorce, or were stricken with a disability?

By taking proactive steps and implementing effective strategies, you can safeguard your financial well-being and provide peace of mind for yourself and your loved ones. In this article, we will explore key considerations and practical steps you can take to manage or prepare your finances for the 3 D’s: divorce, disability, and death.

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Interest Rates Explained

Written by Bloom Investment Counsel, Inc. on . Posted in Financial Literacy. No Comments on Interest Rates Explained

bar chart increase - interest rates increasing

Interest rates are a significant part of your financial life. In its simplest terms – interest is the price you pay to borrow money. At some point, most of us will find ourselves paying interest on a student loan, car loan, mortgage, or credit card. When you borrow money, you will have to pay back the amount you borrowed plus a percentage of the amount borrowed which is the interest.

Unfortunately, we have little control over the interest rates available to us as they are largely a product of economic factors such as money supply, the inflation rate, and the Bank of Canada’s monetary policy.

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