What Do You Want to Do With Your Money?

Happy New Year everyone! I hope everybody had a fabulous holiday and that your credit card bills are not the least bit scary this month.

Before I get into today’s post, let’s have a bit of a fireside chat, because it’s been a while and I’ve missed the blog community!

I’ve been on a bit of an unplanned hiatus because I caught the flu then bronchitis and I’ve basically looked and felt like this for the last month:

Since this is a personal finance blog, and not WebMD, I’m mentioning this because being under the weather for such a big chunk of time (relative to my usual 2 days of a cold per year) changed the way my finances looked for the month of December and made me so grateful for my “things I didn’t budget for” line. Continue reading “What Do You Want to Do With Your Money?”

US Retirement Plans and their Canadian Counterparts

In the last month or so, we’ve all heard of the many Americans who’ve pledged to move to Canada. And why not? I mean, we’re the country that brought the world Ryan Gosling and Ryan Reynolds.

 

[source]

So for those American readers who are contemplating the move up north, or for Canadians who want to understand our southern neighbours a bit better, here’s a short guide to how our Canadian individual retirement plans match up with American plans. Continue reading “US Retirement Plans and their Canadian Counterparts”

Hey Millennials, Let’s Talk Retirement

At work, I am the youngest person in my 50-person department. It’s almost a daily occurrence that someone makes a joke about how I don’t know what a ditto copy smells like or how their pop culture references go over my head (hey, I had TV Land. I’ve seen Happy Days.)

I can weather these comments. I’m happy to be young, thankyouverymuch. What does get to me though is the references to how my retirement is so far away and how I don’t have to worry about it yet. When talk of pensions comes up, they expect me to roll my eyes and tune out of the conversation.

I get it, I do. My employer sends me an annual pension report that tells me what my pension balance looks like now and what it might look like at my projected retirement date. That date is in the 2040s. The way I imagine the 2040s is probably similar to how people in the 1960s imagined the 21st century when the Jetsons aired; it seems inconceivably far away.

In reality, it’s not. They project that I will retire at 55 which is a pretty sweet retirement age for the average person. I can handle that. It’s easy though to prioritize other things over retirement if you think of it as an isolated event so far in the future that you’ll always have years to prepare for it. It’s easy, but it’s wrong. Continue reading “Hey Millennials, Let’s Talk Retirement”