Top 6 Retirement Mistakes To Avoid [$1000 Give Away!] : The Saturday Weekend Review #214

STEER CLEAR OF THESE 6 RETIREMENT MISTAKES THAT CAN THROW OFF YOUR PLAN TO RETIRE COMFORTABLY.   We all hope that by carefully planning for retirement we will not have to worry about anything in the future. While making a plan does make you more comfortable and prepared, there are still ways that cause your retirement plan to derail.   Getting divorced   No one plans on getting a divorce, but life happens. Divorce is something that can have a lasting impact on your finances and subsequently on your quality of life. Even if divorce is amicable, legal fees can quickly spiral out of control in dividing the family assets. You probably saved money and made a retirement plan based on the assumption that there will be two people enjoying the family nest egg in the golden years. However, in divorce the savings will end up being divided among two households, which means less money for both of you. Marriage and Common-law partnerships needs to be looked after and time need to be spent nurturing the relationship and taking care of each other. Since at the end of the day it is both a romantic and a business relationship. This […]

How To Keep Debt From Causing A Marriage Crisis

EVERY COUPLE HAS A STORY TO TELL BUT YOU PROBABLY WON’T HEAR ABOUT IT.   A marriage crisis is about to turn your world upside down, so what do you do? You write me an email looking for a twinkle of hope. Marriage is knowing you’re in love with someone but not sure if you can continue to love them based on events that occur in future dealings with-in your relationship. This is where YOU needs to become WE. What does this all mean? This means that anything can happen even to couples who are in love. One minute you’re all mushy about each other and the next you’re ringing up the lawyer because you no longer can stand each other. The annual amount of divorces in Canada tops 70,000 according to the feldstein-family-law-divorce-fact-sheet-2016. Not only that but 33% of first marriages end in divorce. Some of the reasons for divorce documented from Stats Canada in the fact sheet states the following; Communication breakdown Unreasonable behaviour Infidelity Midlife crisis Financial issues Physical, psychological or emotional abuse Relationship “runs out of steam”/fall out of love Where did you both go wrong? Most often lack of communication leads the way to a bigger […]

How to prevent financial secrets in a relationship

TOGETHER MEANS TWO   Unfortunately if you are married debt is a family affair and if there are any financial secrets hiding in your closet you still may be on the hook for them. “My spouse secretly racked up credit card debt.” How many times have we heard that scenario, over and over again? A guy I know went through this relationship changing scenario with his now ex-wife. He got married shortly after University to the woman of his dreams. She was a happy, smart woman whom he had lots of fun with and they connected well, they were in love. On the outside it seemed like she had her stuff together. I met her a few times and she was always pleasant. Over the years they bought a house and worked their way up the corporate ladder. It was in 2012 when his wife lost her job due to downsizing that everything went downhill for them, and fast. She struggled to find a new job in her field of work that year but as far as he knew she was still looking for work. They had less and less money to keep their huge house running so they had […]

Why marrying for financial security back-fired on her

MONEY ONLY GOES SO FAR   It’s true that money happiness can be stretched to certain limits but eventually that financial security that so many crave turns to a desire to be loved especially if they married for all the wrong reasons. Sometimes I wonder if we learn about love and money from the way we are brought up. We either look for what our parents were or total opposite, what they were not. Don’t teach your children to find someone based on financial security because you may just be doing your child an injustice of having to rely on someone else for their happiness. Teach them to be independent and that true love will come when they least expect it.   Believe in yourself   If we could all see the numbers hidden behind the scenes of customers at financial institutions there would be even more unhappy marriages ending in divorce. Why? Some people marry for money because they think it’s the only way to create happiness in their lives, especially when they aren’t motivated by their own success. This may even lead to controlling relationships. People may not believe in their abilities to become financially successful so they […]

How to handle when your spouse spends too much money

When Money Becomes A Problem   Money can easily become an issue in a marriage when one spouse spends more than the couple earns. Whether the spending habit was there before the union or it occurs as the marriage progresses it must be addressed before it spirals out of control. As I was walking to my car the other day leaving a grocery store my eye caught a woman walking back towards her car. Her husband was waiting at the car as she was throwing her hands up in the air obviously annoyed, as she approached their vehicle. I heard her say ‘I thought we had money on that card’. I am assuming she was unsuccessful paying for their grocery bill which brought up a lot of issues with her spouse. Her husband with an irritated look on his face got out of the car and proceeded to head back into the store with her. Not knowing their story and why the expected funds were not available I can only assume that there was a lack of communication or an oversight with their finances. I don’t know how this story ended as I minded my own business and continued to […]

How to get your life back after a divorce involving kids

YOU CAN FALL IN LOVE AND BE HAPPY AGAIN   If you are or have ever been divorced you will likely agree with me that going through a divorce is not fun.  The rollercoaster of emotions that you may feel; anger, depression, frustration, helplessness and fear to name a few can drain the life right out of you. Picking yourself up and regaining control of your life may be difficult to even think about but it can be done. I am a firm believer that no one can make YOU happy but YOU. I am not perfect and I do not claim to have it all figured out when it comes to life, but you are in control of your life and the choices you make are up to you. You may not be able to control another persons actions but you can control how you react to them and how you let them bother you. I thought I would share a few of my thoughts and observations I have noticed over the last 3 years of being a single parent.   Breaking the ties and refusing to fight   Unless you are someone who likes misery, who wants to […]

Move In With Your Partner: The financial steps

TALK ABOUT MONEY FROM THE START By: Michelle A couple of weeks ago a friend of mine asked me a question: “Should I move in with my boyfriend?” Normally, I’m one to shell out advice in a matter of seconds, but this one had me a bit boggled. Moving in with a boyfriend or girlfriend can be quite a big leap for the relationship, and moving in too soon could have major ramifications both emotionally and financially.   Move In Ready Conversations   I’m a bit of a narcissist when it comes to love and relationships. I believe that the stars have to do more than just be in line for it to be “the right time.” Each person has to chip in and make some major steps- and that is especially true when it comes to getting financials ready for the big move in date. The first major step is to reveal your finances. Move in without knowing what’s in your partner’s pocketbook? HECK NO. While exchanging credit reports takes away the fun of it, a couple should be comfortable enough to sit down and hash out debts. If one person rebels or squirms away, that move in date […]

Dating, career, life and true love: The bundle exposed

By: Katrina Dealing With What Life Hands You We all want our dreams to be bundled up into some sort of fairy tale of a life but who are we kidding, no one has the perfect relationship, career, family all bundled into one. I always dreamed of one day having the perfect family, a couple of kids and a hardworking husband whose family meant the world to him. While we all know life doesn’t always go as we hope it will and it’s without a doubt that we must deal with road bumps along the way. Divorce is an emotionally and mentally draining experience and if you’ve been through it once it’s not likely something you want to experience again. Healing and picking yourself up from the emotional roller coaster of a divorce takes time and when kids are involved it can be even harder to see the light at the end of the tunnel. Dating I’m sure others will agree that being a single mom or a single dad makes dating interesting and harder to do especially when you work full-time and are sleep deprived. Going on that first date after divorce is not always easy because there is […]

%d bloggers like this: