Tag Archives: financial planning

November is Financial Literacy Month

Finančna-pismenostWell, in Canada anyway. But good advice knows no borders!!

November is Financial Literacy Month, and that means a deluge of tips from banks, consumer groups and financial industry professional groups and regulators. The Globe and Mail

True enough, but what about regular folks? The Globe and Mail financial editor received some fan mail from an ordinary dude, a retiree who has written a letter of financial advice to his grown kids. You really have to read the whole thing, but here are the bullets…

  • Spread the pain of saving and pleasure of spending over your whole life.
  • Get out of debt and stay out of debt.
  • Come up with a realistic cost of retirement.
  • Leave your home out of your retirement income plan.
  • Hire an investment planner who does not sell any investment products of any kind.
  • Don’t plan for inheritance, lottery winnings or other windfalls to fund your retirement.
  • Diversify.
  • Plan to be in your investments for 50 years or more.
  • Don’t try to time investment ups and downs when buying and selling.
  • Don’t assume everything will work out on its own.
  • Don’t gamble with individual stocks. Buy whole stock markets.
  • Don’t worry if markets crash.

Like I said, MUCH more detail at the original piece, so check it out. So what do you think? Some good advice? Anything you’d like to add? Head over to the MindField Online Facebook page and let us know!

Simplify Your Finances

yoga at sunset  #9Go on the web and you will find that there’s an official day, week or month for just about everything. “Talk Like a Pirate Day” (Sept 19) comes to mind.  This week, though, the Official Thing seems pretty useful – or has the potential to be. August 1-7 is “Simplify Your Life Week.”

As Thoreau said, “Simplify, simplify.” Personally, I have always thought it would be…simpler to say it just once, but what do I know? Anyway, you go to one of the semi-official Simplify websites and you will see gems like, “Place an artificial rose on your desk to remind you to stop and smell the roses.” Umm, yeah.

How about some real advice?!? Here you go… Woman’s Day offers “20 Moves to Simplify Your Finances.”

How can we possibly make our finances simple? By knowing the right tricks. Choose to become accountable, and then use every tactic you can to streamline—and destress— your financial life. If you can pare things down in the following areas, you’re well on your way. WomansDay.com

The article has a ton of ideas on simplifying and taking the stress out of Spending, Banking, Bill Paying, Taxes, Credit Cards, and much more. I won’t even excerpt it here.. you MUST check it out.

Do any of these tips speak to you? Got any of your own to share? Let us know at the MindFieldLive Facebook Page!