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Navigating Financial Security as Part of the Sandwich Generation

If you support your parents, adult children, and even grandchildren, you’re part of the Sandwich Generation. Balancing these responsibilities while planning for your secure future can seem nearly impossible, and managing savings, bond repayments, credit card debt, school fees, and frail care can be financially and emotionally demanding. It may be time to check in with yourself:Can you afford to support children who should be supporting themselves?How does this affect your current living expenses and future retirement savings?How is balancing the needs of multiple generations affecting...

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Packing for Your Next Chapter

Every new beginning ends something. One of my favourite exercises, especially during transitions, is the Suitcase Exercise. This exercise is particularly useful when facing numerous changes and challenges simultaneously. The idea is simple yet profound: you assess your top values and then examine every aspect of your life – your work, identity, relationships, money, attitudes, habits, etc. – to determine what’s working and what’s not. This exercise requires looking at the things that get in the way and what you need to leave behind. Think about all the parts of your life....

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Redefining work post-midlife – Breaking the Midlife Myth

A common midlife myth is the fear that “I will never have enough money to retire,” or the assumption that “I will have to adjust my lifestyle to what my retirement assets can provide.”People either see retirement as the end of work or are so worried that their savings will never be enough to sustain their pre-retirement lifestyles that they feel the need to keep working at the same intensity and pace. When we discuss these concerns with clients, we challenge these myths by asking, “What would your life look like if you could continue working with more time for personal interests and possibly...

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Financially Unprepared – the unintended burden of inheritance

I have found that one of the main contributors to these complexities is what I’ve termed financial maturity. When I speak about financial maturity in this context, I am talking about the beneficiary’s understanding of the value of money, how far it can or can’t go, their real-life experience with money, and whether they are capable of making informed decisions while considering the long-term implications of those choices. It also means feeling comfortable and content. The Emotional Complexities of Inheritance I have helped clients who received money from relatives with whom they had...

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To Rent or Buy – a Midlife Perspective

Financial goals: Does renting or buying align better with your financial goals?Market conditions: Have you considered the cost implications?Lifestyle: How may your lifestyle influence your decision to rent or buy?Future uncertainties: Could any life changes affect your decision?Family: Will changes in your family (children leaving home; elderly parents moving in) impact your decision?Seeking Advice: There is no one-size-fits-all answer. Both options have merits: homeownership brings stability and potential future equity, while renting might suit you better if you’re anticipating future moves,...

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How to be intentional with your money

Step 1: Know what you are spending money on right now.Use your bank statement as the best indicator. Step 2: Identify problem areas.Can you identify any unnecessary, excessive, or misaligned expenses? Tip Shop around for competitive insurers and rates every two years. You may be surprised how many subscriptions you have that you no longer use. Step 3: Identify your yearly goals. Step 4: Intentionally allocate your money to enable your goals. Download your spending plan from my website. Click here to watch Midlife Money Tip shared by Chartered Financial Planning Specialist,...

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