Bob and Lisa are wondering just how their retirement will turn out. After all that's happened over the past few years, their RRSP accounts haven't grown as much as they had expected. Even in the best of times, they weren't saving as much as they could have been, at least for all their post-retirement desires.
Some financial decisions are made without enough thought given to the long term consequences. TIME – a critical element for any successful long-term financial strategy – can affect different situations quite dramatically. Here are some financial mistakes you should try to avoid:
With lenders offering 30 year amortization periods, it may look attractive to go with a smaller monthly payment to get into a larger house, but the extra interest charges only benefit the lender.
These days, having a career presents many more new rewards and challenges than it ever used to. What we used to take for granted – including our work location – can sometimes change dramatically as companies continue to change and adapt to new economic situations.
This can be great for a business and its bottom line, but really tough on the employees within it. Because we never know exactly what the future holds, you may find yourself facing a job transfer at some point along your career path.
