Category: Financial Wellness
Learn How to Build Wealth Volume 4–Rent Out a Room
The cash flow generated through the use of rental properties can be used in several ways. The most common are: Supplement monthly income Reduce Debt Reinvest in the property Invest in other investment opportunities.
Learn How to Build Wealth Volume 4–Through a Business and Real Estate
Course Overview Owning a business and investing in real estate are additional ways many use to build wealth. Whether SMART financial goals are being met through the sale of a business or revenue from real estate property finding the right wealth building strategy that utilizes our skill set is important to identify. Within this course […]
Learn How to Build Wealth Volume 3–Your Way
Building wealth is relatively easy. Have SMART goals Do SMARTER things Treat your goals as expenses Select an investment vehicle (business, real estate, paper assets) that you know and understand. Put in the effort to make things happen Review results Now it is time to build a cash flow machine.
Learn How to Build Wealth Volume 3–Keep It Together
Now that goals and visions have been identified, cash flow is being properly managed, debt is well contained, assets are protected, and wealth is being built, we need to keep everything organized. In order for us to be productive in accomplishing goals we need to be organized. There are several ways we can keep things […]
Learn How to Build Wealth Volume 3–Measure it!
An easy way to keep track of how well our financial wealth is developing or building is to measure our net worth. By keeping tracking of our net worth, not only does it help us know when we have arrived at our financial destination, but it also provides us with a reality check as to […]
Learn How to Build Wealth Volume 3–Determine ROR
When we choose investments we are almost never guaranteed a rate of return. Even after completing hours of research, the rate of return (reward) and the probability of loosing money (risk) are more than likely “hopefuls wishes” at best. We hope our investments perform well, and allows us to pay for future financial wishes. To […]
Learn How to Build Wealth Volume 3–Dollar Cost Averaging
Dollar cost averaging is a great way to build up our investment portfolio. There are two things that will help our dollar cost averaging investment strategy to work: commitment to invest over time, selecting a good investment. Make sure that there has been sufficient research done before committing to an investment. A certified financial professional […]
Learn How to Build Wealth Volume 3–Using TFSA and RRSP
Learn How to Build Wealth Volume 3–TFSA and RRSP Strategies
Tax free savings account (TFSA) and the Registered Retirement Savings Plan are both strategic investment “garages” created by the government to help Canadians save money. They both serve a purpose and are important tools to be included in planning. Before deciding which investment garage to park investment vehicles in it is important to understand some […]
Learn How to Build Wealth Volume 3–Parking Investments
When building wealth with paper assets, fees and taxes play an important role. Whether we pay an ongoing yearly fee to have our funds professionally managed or pay a transaction fee to buy or sell stock shares the affect these “friction costs” have on our returns can be drastic. Likewise, the amount of taxes we […]