Author: Bloom Investment Counsel, Inc.

Setting Up a Retirement Fund as a High-Net-Worth Individual

Written by Bloom Investment Counsel, Inc. on September 4, 2023. Posted in Retirement. No Comments on Setting Up a Retirement Fund as a High-Net-Worth Individual

Upon your retirement, you will likely have a reduced income as you say goodbye to employment earnings. It is therefore important to work out how much you will need in retirement savings to have a comfortable retirement.

But how much is enough? Everyone’s answer will be different, especially if you are fortunate enough to be considered High-Net-Worth (HNW) individual. Higher-income and greater assets require more complex retirement planning with more options and decisions to be made.

For HNW individuals, the focus for retirement tends to be less on financial security and more on managing investments, tax planning, cash flow, wealth transfer, and charitable endeavors.

With proper advance planning, you can establish the foundation for the desired standard of living, lifestyle, wealth transfer, and legacy you want to achieve in retirement.

Impact Investing vs Philanthropic Contributions – What’s the Difference

Written by Bloom Investment Counsel, Inc. on September 4, 2023. Posted in Philanthropy. No Comments on Impact Investing vs Philanthropic Contributions – What’s the Difference

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.

Five Useful Investment Terms You Should Know

Written by Bloom Investment Counsel, Inc. on August 28, 2023. Posted in Financial Literacy. No Comments on Five Useful Investment Terms You Should Know

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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.

Estate Planning for Your Digital Assets

Written by Bloom Investment Counsel, Inc. on August 28, 2023. Posted in Estate Planning. No Comments on Estate Planning for Your Digital Assets

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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 Secrets You Should Know

Written by Bloom Investment Counsel, Inc. on August 21, 2023. Posted in Investing. No Comments on Passive Income Secrets You Should Know

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.