When it comes to making a positive difference in the world, impact investing and philanthropic contributions are two approaches that often come to mind. While both aim to create social and environmental change, their methods and outcomes differ.
Investing is putting your money to work in assets other than a savings account that have the potential to provide you with a greater rate of return than you would receive from holding your money as cash.
Most people have a general knowledge of basic investment terms including types of investments (stocks, bonds, GICs, etc.,) and common media topics such as inflation, interest rates, recession, and mortgage rates. However, when you are about to commit your assets to an investment portfolio, it’s useful to expand your investment knowledge beyond the basics. In this article, we examine five terms that you should understand when investing.
In today’s digital age, estate planning goes beyond deciding what will happen to your physical possessions: it extends to your digital assets as well. As you increasingly rely on technology for various aspects of your life, it is crucial to consider what will happen to your digital assets after you pass away. Without proper estate planning for your digital assets, they can be lost or inaccessible to your loved ones who may need access or want to preserve them in your memory.
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.
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.