The Binnacle Financial Team, Inc

First, you determine the goals you want to meet, and when. Are you saving for retirement, a child’s education, a vacation, or a new car? Map out your goals, when you hope to achieve them, and how much they will cost.

Reverse-budgeting: The low-stress way to spend guilt-free and keep your finances healthy Figuring out first how much you need to save and invest to reach financial goals is remarkably effective

Be prepared for the financial burdens of caring for aging parents by learning about the innovative strategies that could provide relief for your family.

Caring for aging parents in Canada: Financial challenges and strategies for relief - MoneySense Be prepared for the financial burdens of caring for aging parents by learning about the innovative strategies that could provide relief for your family.

A little more patience - could be end of Q2 and we will see reductions? Time will tell...

Fed likely to preach patience as markets look ahead to rate cuts | Advisor.ca Federal Reserve officials are expected to play it safe when they meet this week

We look to have the conversation with all clients - "Do you have an updated Will?" - it can make a big difference when the time comes to deal with your personal (and business) affairs on passing - we can refer you to a lawyer - let's talk.

'Once they do estate planning, everyone tells me it's a relief' Financial planner speaks out on gaps in clients’ financial-planning picture, and why wills are non-negotiable even for simple cases

Great team! we miss working with all of you!

Whether you’re new to our Advocis community or you’ve been a Member for a while and want to learn more about getting involved with Advocis… join us next week for the February edition of Welcome Wednesdays! 🙌🫶

We’ll be joined by: Leslie Carpenter, Chair of Advocis’ Chapter Leadership Council and TFAAC Board Member, Abhi Sharma, CLC Member and Past President of Advocis Peel-Halton, and long-time Advocis Member and current Board Member with our Advocis Windsor Chapter, Tony Nader! 💯

For this coming session, we’ll be talking about all things Member Perks, including how to secure Member discounted pricing for events, upcoming education opportunities, marketing support offered from Advocis, and how your local Chapter can support you! Our TFAAC, CLC & Chapter leaders will also share some words of wisdom, and their best recommendations for navigating your professional journey with Advocis. ✨

Register here: https://bit.ly/3ssl3Cz

Interesting article. And a statement that makes sense to us to what is to come….

Tip of the iceberg? Experts warn plunge in Canadian Tire profits point to economic storm ahead — Toronto Star High interest rates, mass layoffs and recent decline in retail spending point to troubles ahead, according to economic insiders.

Having the hard conversations about money topics is important for all age groups, family communication early on can save a great deal of chaos and confusion later. See our recent Blog post - have you sat down with your children?

Iris How adult kids can start talking to their parents about wealth transfers By Admin   2024/02/08 Having the hard conversations about money topics is important for all age groups, family communication early on can save a great deal of chaos and confusion later. Read More

Have you noticed that it's harder to maintain old relationships or find new ones as you get older? Be reassured, you're not alone, says Debra Waters https://ow.ly/HKnn50Qq4KH

Black Friday unofficially launches retailers into the holiday shopping season, but this year the affordability crisis is ramping up pressure on shoppers and business owners. Many stores started rolling out markdowns well before Black Friday in an effort to draw shoppers who might be spreading out their spending on limited budgets.

Inflation compounds small business stress in 'make-or-break' holiday shopping season Black Friday unofficially launches retailers into the holiday shopping season, but this year the affordability crisis is ramping up pressure on shoppers and business owners. Many stores started rolling out markdowns well before Black Friday in an effort to draw shoppers who might be spreading out th...

Experts say that earlier is better for lining up an insurance policy, and starting a family is often the trigger for making the move.

How old should I be to start thinking about life insurance — and how much will it cost me? Experts say that earlier is better for lining up an insurance policy, and starting a family is often the trigger for making the move.

We don’t need to wait until it’s back to 2 per cent,” says BoC governor Tiff Macklem, in a reversal from long-standing messaging.

Relief may be on the way: Economists forecast interest rate cuts as early as mid-2024 “We don’t need to wait until it’s back to 2 per cent,” says BoC governor Tiff Macklem, in a reversal from long-standing messaging.

Alarmingly, there are no signs of this trend slowing down. The Hunger Count, released last month by Food Bank Canada, revealed that over two million Canadians are now reliant on food banks. While some have pointed fingers at Ottawa, provinces, or grocers ... https://ow.ly/EOe550Q8LlN

To shed light on the road ahead, Canadian RESP company, Embark today released a forecast of how much an average four-year university degree will cost Canadian students in each province. https://ow.ly/reII50Q6agj

Higher interest rates have weighed on many Canadians' portfolios so far this year. Here's how fresh expectations for the Bank of Canada's rate path might affect markets.

Interest rates could stay higher for longer. What that means for your portfolio - National | Globalnews.ca Higher interest rates have weighed on many Canadians' portfolios so far this year. Here's how fresh expectations for the Bank of Canada's rate path might affect markets.

Unsure about your benefits as a student? No longer covered by your school or your parents? Here’s how you can navigate health insurance in Canada.

Health insurance in Canada: A primer for students and recent grads - MoneySense Unsure about your benefits as a student? No longer covered by your school or your parents? Here’s how you can navigate health insurance in Canada.

Should couples combine finances? It’s important for couples to talk about money, and those discussions may look different depending on what type of couple you are and your goals.

Should couples combine finances? Learn about what it takes to be successful with combining finances as a couple.

More than half of Canadians (61 per cent) are concerned about planning and meeting future goals or saving money for their long-term needs (63 per cent). Yet, only 15 per cent are delaying home renovations and 20 per cent are postponing taking a vacation next year. ow.ly/FHaP104VaTk

Hmmmm. Something to think about…..

There's something worse than inflation, and it's on the radar for next year — CBC News The popular idea that prices should fall to previous lows gives most economists chills. Deflation is bad for everyone, they say.

CNW/ - A new CIBC poll finds that while more than half of all Canadians (61 per cent) say they have engaged in some sort of cost-cutting behaviour to

As the cost of living goes up, most Canadians are making daily sacrifices - while holding on to big ambitions /CNW/ - A new CIBC poll finds that while more than half of all Canadians (61 per cent) say they have engaged in some sort of cost-cutting behaviour to manage...

What is the First Home Savings Account (FHSA)? It is a savings account from the Federal Government that is set to be available for Canadians. If you are thinking about buying your first home, a FHSA can be a great tool to help you achieve that goal.

What is the First Home Savings Account? The FHSA is a special savings account from the Federal Government. Learn how you can use it to save money, provide tax benefits, and to purchase your first home.

Are you getting the most from your government benefits? Even if you think what you’re getting is fair, there’s always a chance that you could receive more. With the rising cost of living, every extra dollar helps. Your taxes help fund these government programs, so it’s in your best interest to ensure you get the maximum amount you’re eligible for.

How to maximize your government benefits in Canada | Canada Are you getting the most from your government benefits in Canada? There’s always a chance that you could receive more money.

With succession planning, the key is to not wait until the last minute before figuring out how to pass the family cottage onto your children

As Ontario cottage prices plummet, here’s how to keep your little piece of heaven in the family With succession planning, the key is to not wait until the last minute before figuring out how to pass the family cottage onto your children

Seven in ten believe that higher costs will result from climate change, and most are not confident in their retirement plans

Canadians fear climate change will squeeze retirement savings Seven in ten believe that higher costs will result from climate change, and most are not confident in their retirement plans

Learn from an estate administrator exactly what Canadian families should do right now to avoid headaches later.

How important are wills and estate planning for Canadians? - MoneySense Learn from an estate administrator exactly what Canadian families should do right now to avoid headaches later.

Helping grow the Canadian Pension Plan Fund, here's everything you need to know about CPP Investments, and how they help you retire.

This is how Canada's $570B pension fund supports your future retirement | Venture Helping grow the Canadian Pension Plan Fund, here's everything you need to know about CPP Investments, and how they help you retire.

Wedding planning may be your first taste of financial planning as a couple. It’s important to create a budget that suits your financial reality and preferences. These tips will help reduce costs and save money for your big day. Talk to me to learn more! ow.ly/MLue104KuSO

While clients may say it’s important to integrate their house purchases into their financial plans, more than half aren’t seeking advice from their financial advisors before obtaining a mortgage – even as interest rates keep climbing, squeezing their budgets – and advisors need to address that.

Why advisors must integrate clients’ mortgages into financial plans IG survey shows 78% of clients say it's important, but less than 44% are doing it

Workplace pensions are disappearing, and Canadians are living longer. Here’s one way to boost your retirement savings—no finance degree required.

Retiring without a pension? How to generate retirement income in Canada - MoneySense Workplace pensions are disappearing, and Canadians are living longer. Here’s one way to boost your retirement savings—no finance degree required.

The housing market may be hearing up again, but most Canadians are still waiting on the sidelines for mortgage rates to drop, with some giving up on the idea of buying a home entirely, a recent poll by BMO suggests. ow.ly/Zfnb104JHkM

A new study shows that 85% of Canadian couples planning weddings say that their biggest worry is the price tag and many are scaling back.

Canadian couples planning weddings feel the pinch as prices rocket | Canada A new study shows that 85% of Canadian couples planning weddings say that their biggest worry is the price tag and many are scaling back.