Author: Bloom Investment Counsel, Inc.

How to Save for Retirement With No Company Pension Plan

Written by Bloom Investment Counsel, Inc. on November 27, 2023. Posted in Retirement. No Comments on How to Save for Retirement With No Company Pension Plan

saving for retirement with no company pension plan

The number of companies providing defined benefit pension plans, or even defined contribution pension plans and Group RRSP alternatives, continues to decline. As well, the frequency of employees changing jobs has been on the increase for years. Therefore, increasingly, the onus is on individuals to provide for their own retirement.

So, what do you do if you do not have a company pension plan? There are several strategies and vehicles to help you save for your retirement. The key is to have a plan and to start as early as possible.

Understanding Debt: Good Debt vs. Bad Debt

Written by Bloom Investment Counsel, Inc. on November 27, 2023. Posted in Financial Literacy. No Comments on Understanding Debt: Good Debt vs. Bad Debt

Understanding the difference between good debt and bad debt is crucial in managing your finances effectively. While debt is often associated with negative connotations, it’s important to recognize that not all debt is created equal.

Differentiating between good and bad debt allows you to make informed decisions about borrowing money. By prioritizing good debt and minimizing bad debt, you can work towards building a solid financial foundation and achieving your long-term goals.

Unexpected Inheritance? Here’s How You Can Make the Most of It

Written by Bloom Investment Counsel, Inc. on November 20, 2023. Posted in Life Events. No Comments on Unexpected Inheritance? Here’s How You Can Make the Most of It

Inheriting unexpected wealth can be both a blessing and a challenge. While an unexpected inheritance may surprise you, it can provide great opportunities to improve your financial situation and achieve long-term goals. By understanding the steps you should take and knowing how to make informed decisions, you can confidently navigate this unanticipated wealth.

In the following sections, we will discuss various strategies to help you maximize the potential of your surprise inheritance. From creating a comprehensive financial plan to exploring investment options and minimizing tax implications, we will provide actionable advice tailored to your specific circumstances.

The Importance of Portfolio Diversification in Retirement

Written by Bloom Investment Counsel, Inc. on November 20, 2023. Posted in Investing. No Comments on The Importance of Portfolio Diversification in Retirement

Reducing risk is the primary reason to diversify your investments. Every investment comes with some risk, but by choosing the right mix of investments you should be able to achieve an acceptable balance between return and risk.

Year-End Tax Strategies for Philanthropists

Written by Bloom Investment Counsel, Inc. on November 13, 2023. Posted in Philanthropy. No Comments on Year-End Tax Strategies for Philanthropists

As the year comes to an end, philanthropists have a unique opportunity to maximize their impact while also benefiting from year-end tax strategies.

By strategically planning your charitable giving, you can not only make a difference in the causes you care about but also optimize your tax deductions, reducing your year-end tax bill.