It's Personal Finance Canada

This week tackle the concept of savings rate and see what rate could be best for you. Plus we talk about how ability, willingness and time are the biggest factors in saving.If you live in British Columbia, Alberta, Saskatchewan, Manitoba, Ontario or Yukon let us help you take care of the people you love and visit braunfinancial.com DIY Investing at: https://get.modernadvisor.ca/braun-financial/ Useful Resources:T Rowe Price article 1: https://www.troweprice.com/personal-investing/resources/insights/what-adjustments-should-i-make-my-retirement-savings.htmlT Rowe Price article 2: https://www.troweprice.com/personal-investing/resources/insights/youre-age-35-50-or-60-how-much-should-you-have-by-now.html

Dive into the fascinating world of behavioral economics and how it shapes our financial decisions. Explore the intriguing dynamics between instant gratification and long-term planning. Discover the impact of default options in retirement savings and why understanding consumer behavior is essential. Learn about cognitive biases that heavily influence how we spend and invest. The conversation sheds light on the subtle ways marketers nudge us toward choices we may not even realize we're making.

Why read something when you can just misquote it instead. This week we delve into the holy document of the FIRE movement, the Trinity study. What does this famous paper actually say and how has it been misrepresented in the personal finance community. Plus some tips to help you get the most out of the papers actual results. If you live in British Columbia, Alberta, Saskatchewan, Manitoba, Ontario or Yukon let us help you take care of the people you love and visit braunfinancial.com DIY Investing at: https://get.modernadvisor.ca/braun-financial/Useful Resources:The Trinity Study: https://www.aaii.com/files/pdf/6794_retirement-savings-choosing-a-withdrawal-rate-that-is-sustainable.pdf

This discussion highlights key insights from Suze Orman's retirement guide, revealing the hosts' newfound enthusiasm for its advice. They tackle the complexities of timing retirement, the importance of being debt-free, and the impact of inflation on financial planning. The conversation also covers strategies for safe withdrawal rates to ensure longevity of savings and the necessity of choosing the right financial advisors. Overall, it’s a deep dive into making informed decisions for a fulfilling and secure retirement.

Discover the vital role of health and life insurance in safeguarding your financial future. Learn the differences between temporary and permanent insurance, and why understanding disability and critical illness insurance is essential. This conversation tackles common misconceptions that deter younger individuals from getting covered. Plus, gain insights on permanent insurance products and the importance of comparing providers. Equip yourself with knowledge to protect your loved ones and ensure long-term financial stability.

Discover unconventional money-saving hacks that can make a real difference in your daily life. From community sharing initiatives to thrift culture, learn how to maximize your resources and cut costs. The conversation dives into savvy grocery shopping strategies and the pitfalls of food delivery services, revealing hidden expenses. Fuel savings and smart meal planning are highlighted as key techniques for better budgeting. Plus, get tips on leveraging social connections for support in your financial journey!

I have a bad habit of putting the “pro” in procrastination. This week we talk about “The Procrastination Equation” by Piers Steel and see how procrastination is hurting your finances. Discover useful tips, ways to motivate yourself and how to fix everything with math.If you live in British Columbia, Alberta, Saskatchewan, Manitoba, Ontario or Yukon let us help you take care of the people you love and visit braunfinancial.com  DIY Investing at: https://get.modernadvisor.ca/braun-financial/Keep the conversation going on our Facebook Page and Group: https://www.facebook.com/itspersonalfinancecanada

This week we take a look at the work of Gary Selnow and see the top reasons people don’t save for retirement. Problems such as lack of instant gratification, no set structure, no accountability and more ways people are sabotaging their retirements, plus some solutions.If you live in British Columbia, Alberta, Saskatchewan, Manitoba, Ontario or Yukon let us help you take care of the people you love and visit braunfinancial.comDIY Investing at: https://get.modernadvisor.ca/braun-financial/Keep the conversation going on our Facebook Page and Group: https://www.facebook.com/itspersonalfinancecanada Useful Resources:Motivating Retirement Planning: Problems and Solutions byGary Selnow -  https://repository.upenn.edu/server/api/core/bitstreams/4feb056b-e015-4422-9fa9-1efccd633b72/content

Discover how to make the most out of your tax refunds with personalized financial strategies. Explore the balance between immediate needs and long-term goals while navigating uncertain economic times. The speakers emphasize the importance of diversification in investment and the role of consistent savings in retirement planning. Learn tailored approaches for utilizing found money based on your income and preferences, ensuring your financial decisions align with your personal aspirations.

This week we talk about two common financial advice tips that if not done properly can leave you in a worse position than when you started. That’s right hot topics like borrowing to invest and maximizing your mortgage finally get put to the test.If you live in British Columbia, Alberta, Saskatchewan, Manitoba, Ontario or Yukon let us help you take care of the people you love and visit braunfinancial.com  DIY Investing at: https://get.modernadvisor.ca/braun-financial/Keep the conversation going on our Facebook Page and Group: https://www.facebook.com/itspersonalfinancecanada