Post on 01-Jan-2016
description
I graduated.
Now what?
About me
Healthcare Financial Group Inc
Public RelationsBradley RoulstonCFP, CLU
Today
• Psychology of money• Easy ways to understand finances• Investing• Debt dangers for new grads
Psychology of Money
• Money is the number 1 fight among partners
• Money is the most avoided family conversation (even more than sex)
• What is your attitude towards money?
Would you rather…
Earn $100,000 with everyone in your community earning $120,000
OR
Earn $75,000 with everyone else earning $50,000?
Affluenza
(n) A painful, contagious, socially transmitted condition of overload, debt, anxiety and waste resulting from the dogged pursuit of more
(n) The bloated, sluggish and unfulfilled feeling that results from efforts to keep up with the Joneses
Your Financial Hike
How does your money flow?
Get yourself out of trouble
Short term investments
Packing for the golden years
How much will you need?
Canada Pension max: $934.17Old Age Security max: $521.62
$1,455.79Russell 20 Rule:
“For every $1 you need in retirement income, you’ll need $20 in the bank”
Retirement goal = investment amount * return * time
How do you time the markets?
… No one can …
You Can Choose To Be Strategic• Dollar Cost Average• Build a balanced portfolio• Work with a trusted CFP• Be Female
Owe Canada
Personal Debt is at $1.5 Trillion
National Debt currently stands at approximately $560,000 billion
• About $16,500 for every Canadian citizen• Around $24,000 for every taxpayer
Provincial debt, add another $10,000 per person
www.debtclock.ca
Canada’s household debt at record high
Lines of credit fastest growing
Debt = Slavery
$30,000 debt at 6% paid over 10 years will have monthly payments of $332.
Total cost $39,834
Personal Savings Rates in Canada
Student Loan
• Consolidating Period
• Variable vs Fixed Rates
Keep with the government
1. Interest Relief
2. Loan Reduction
3. Period Extension
4. Interest Tax Credit (15%)
Questions?
More questions?
Ask an expert atask@waterloobanking.com
info@waterloobanking.com