Should You Relocate or Stay Put in Retirement? Financial Pros and Cons

You may be living in your most valuable asset—your family home—and contemplating whether or not to use it to help fund your retirement. In addition to emotional considerations, the financial aspects of the decision to relocate or stay put can be significant. This article explores the financial pros and cons to help you decide which “move” is best for you: relocate or stay put in retirement.

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Knowing Your Net Worth—Why is This So Important?

Your net worth is calculated as your assets (all that you own) minus your liabilities (all that you owe)—a snapshot of your financial position. People with substantial net worth, generally with more than 7 figures in liquid assets, are considered high-net-worth (HNW) individuals in Canada. How do you estimate your net worth and why is knowing your net worth important? Read this article to learn more.

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Financial Planner vs. Financial Advisor: Know the Difference

There may come a point in your financial journey when you’d like to seek professional input, advice or counselling to manage your and/or your family’s present and future wealth. The sooner you have a financial plan, the greater the likelihood you will succeed in reaching your long-term financial objectives.

As you search for the financial guidance you need, you will find dozens upon dozens of titles used by finance professionals, including “stock broker,” “registered representative,” “wealth planner,” “tax planner,” “accountant,” “estate planner,” “private banker,” and on and on, all vying for your business.

Many of these titles are very service-specific; however, for some like Financial “Planners” and Financial “Advisors,” the titles are not very helpful in clearly discerning the services provided. In this article we will help you understand the differences.

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Wealth Manager or Private Banker—Which Should You Use?

With increasing wealth comes increasing responsibility, whether you want that responsibility or not. You may have accumulated wealth over many years of hard work or inherited much of your wealth. Either way, it is crucial to set a strategy in place to not only preserve that wealth for tomorrow, but to be able to enjoy it today, while leaving some for financial succession if desired.

Private Bankers and Wealth Management firms are both eager to help you with this responsibility, providing a one-stop shop for all your financial needs. However, the choices and execution are substantially different. Which is best for you and which should you use?

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Before You Buy Cryptocurrency, Understand What You are Investing in

Cryptocurrency (“crypto”) is digital money based on blockchain technology—a decentralized, distributed digital ledger. Therefore, at its core, crypto is a decentralized digital medium of exchange that is designed to be used over the internet.

Unlike other currencies such as the Canadian dollar, no central authority (such as a government or bank) manages and maintains the value of a cryptocurrency. Its value is driven entirely by supply and demand.

Before you buy crypto, understand what you are investing in. What can you buy with crypto, and should you invest in it?

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