Part 2 of 3-Part Series Of course, there are many ways to change this number throughout their initial time. The most obvious is reducing their burn rate or the dollars they are burning each month. This can be done through cost cutting measures such as rent, staff salaries and other expenditures. The other is actually generating some revenue during that…

Part 1 of 3-Part Series The term burn rate or burn ratio is one which is often used in the start-up world of business. What is refers to is how fast a new company is using, or “burning” its cash funds. It’s very likely you have never heard that term ever applied to personal wealth management before, and that is…

Part 3 of 3-Part Series This brings us back to good debt and bad debt, and why if used properly, they are an invaluable tool for business and individuals. When debt, or more commonly known as loans, are taken out, if it used to purchase or invest in an asset which will appreciate in value, it is a good debt.…

Part 2 of 3-Part Series Unsecured debt is of course debt without any collateral for security. This kind of debt is given based upon the perceived reliability factor of the borrower and this is usually calculated in a credit profile. A financial profile is run upon you as the borrower, taking into account your income, savings, investments, existing debt, current…

Part 1 of 3-Part Series Understand debt and what it entails is one of the most important lessons everyone should learn. However, it is likely one of the least understood financial tools and most often thought of in negative terms. At its very core, debt is borrowing money. What it is used for and how you manage it is what…

Part 2 of 3-Part Series Now that we understand what real estate is, let’s move on to the different classes of it. They are divided into residential, commercial, industrial, special purpose and land. Everyone will have a good idea of the first 3 and what they are, so we’ll do a quick delve into the last 2. Special purpose loosely…

Part 1 of 3-Part Series I What’s the first thing you think about when asked about real estate and investing? Chances are it’s probably your home, likely among the most important things you own or ever will own. It makes sense, it’s the place or places which you live and sleep, spend most of your time and perhaps raise a…

Part 3 of 3-Part Series In Canada you will likely have been contributing to your CPP or Canadian Pension Plan throughout your working life and this becomes available to you as early as 60 years, though you receive less if you take it any earlier than 65 years and receive more by deferring any later than 65 years. Old Age…

Part 2 of 3-Part Series It is important to note that when taking the summation of your retirement accounts, only the qualified accounts are used. This means you could have a large amount in unqualified accounts or investments which will affect the real-life number and differ from the retirement ratio. Of course, there are other factors to consider, such as…