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Post Retirement Planning – Have You Saved Enough?

Written by Bloom Investment Counsel, Inc. on . Posted in Retirement. No Comments on Post Retirement Planning – Have You Saved Enough?

retired couple with saved money

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.

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Interest Rates Explained

Written by Bloom Investment Counsel, Inc. on . Posted in Financial Literacy. No Comments on Interest Rates Explained

bar chart increase - interest rates increasing

Interest rates are a significant part of your financial life. In its simplest terms – interest is the price you pay to borrow money. At some point, most of us will find ourselves paying interest on a student loan, car loan, mortgage, or credit card. When you borrow money, you will have to pay back the amount you borrowed plus a percentage of the amount borrowed which is the interest.

Unfortunately, we have little control over the interest rates available to us as they are largely a product of economic factors such as money supply, the inflation rate, and the Bank of Canada’s monetary policy.

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How to Manage Your Finances for the 3 D’s — Divorce, Disability, and Death

Written by Bloom Investment Counsel, Inc. on . Posted in Wealth Planning. No Comments on How to Manage Your Finances for the 3 D’s — Divorce, Disability, and Death

woman typing on a laptop and looking at a calculator to manage her finances

In life, we often face unexpected challenges that can greatly impact our financial stability. Among these challenges, three significant events stand out: divorce, disability, and death. It is crucial to manage our finances in relation to these situations so that we are equipped to navigate through them with minimal disruption. How would you want your finances handled if you died, were going through a divorce, or were stricken with a disability?

By taking proactive steps and implementing effective strategies, you can safeguard your financial well-being and provide peace of mind for yourself and your loved ones. In this article, we will explore key considerations and practical steps you can take to manage or prepare your finances for the 3 D’s: divorce, disability, and death.

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Writing a Will as a Business Owner in Canada

Written by Bloom Investment Counsel, Inc. on . Posted in Estate Planning. No Comments on Writing a Will as a Business Owner in Canada

last will and testament

As a business owner, planning for the future and ensuring that your assets are protected is crucial. One essential aspect of this planning is creating a will. A will serves as a legal document that outlines how your assets and business interests should be distributed after your passing. While contemplating one’s own mortality may be uncomfortable, having a will in place is an important step towards securing the future of your business and ensuring that your wishes are carried out.

In this article, we explore why writing a will as a business owner is vital and discuss the various considerations that should be considered during this process.

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