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3 Ways to Grow Your Wealth

Written by Bloom Investment Counsel, Inc. on December 11, 2023. Posted in Wealth Planning. No Comments on 3 Ways to Grow Your Wealth

In today’s fast-paced world, everyone strives to gain financial stability and secure a prosperous future. Whether you are just starting your financial journey or looking to expand your existing portfolio, the key to success lies in effectively growing your wealth.

When it comes to growing your wealth, there are several strategies you can employ to achieve financial success. This article covers three effective ways that can help you increase your wealth and secure a more financially stable and brighter future.

The Importance of Cash Flow Planning for Retirement

Written by Bloom Investment Counsel, Inc. on December 11, 2023. Posted in Retirement. No Comments on The Importance of Cash Flow Planning for Retirement

Cash flow planning is the foundation of a fully comprehensive financial plan that includes your retirement years. As with any component of a financial plan, the sooner you start, the more effective your plan will be.

4 Commonly Forgotten Expenses in Household Budgets

Written by Bloom Investment Counsel, Inc. on December 4, 2023. Posted in Financial Literacy. No Comments on 4 Commonly Forgotten Expenses in Household Budgets

When it comes to budgeting, people often focus on the larger expenses such as lease payments, rent, utilities, and groceries. However, several commonly forgotten expenses can quickly add up and throw off your household budget. It’s important to consider these overlooked costs to create a more accurate and realistic budget.

The four commonly forgotten expenses that you may have forgotten to include in your budget are: maintenance and repairs, subscriptions and memberships, personal care, and miscellaneous.

The Importance of Estate Planning for High-Net-Worth Individuals

Written by Bloom Investment Counsel, Inc. on December 4, 2023. Posted in Estate Planning. No Comments on The Importance of Estate Planning for High-Net-Worth Individuals

estate planning when you are high net worth

Estate planning is a critical aspect of an overall financial plan, especially for high-net-worth (HNW) individuals and families. With substantial wealth and complex financial circumstances, HNW estate planning is necessarily much more extensive.

If you are an HNW individual, belong to an HNW family, or aspire to become an HNW in the future, you should prioritize estate planning.

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.