If you are just starting out, it’s easy to get off on the wrong foot. Being late for school will get you a detention, but being late for a bill will give you a much bigger headache.
Reaching adulthood means a lot of things: being able to sign contracts, voting, and getting tons of credit card offers in the mail. With minimum payments being as low as 1% of the total balance, it can seem like you have found the land of milk and honey once and for all.
Of course, credit cards are not the only thing that determine your credit score, but they are usually the largest pitfall for most people. For people who struggle with credit card debt, most of them don’t get past those hurdles until they reach their fifties.
Will you buck the trend?
When you are young, the future can seem far away, but a few dollars can make a bigger difference than you realize.
Just $50 per month can become $7,900 in 10 years with a modest 5% annual rate of return.
If you run the numbers again with a $500 per month contribution, you get $79,000*. However, if you put it off for 5 years, you are only left with $35,000.
Many people will offer you advice on which investments to buy. But there’s more to your financial life than your RRSP. Estate taxes, income taxes and education funds for…
Tax Free Savings Account
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Life Insurance
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Disability Insurance
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Will
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Critical Illness Insurance
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WHAT OUR CLIENT ARE SAYING…
“My wife and I have known Bill for over 10 years, working with him in various settings from investments to taxes to even charity planning. It is good to know that Bill has such a great reputation in the community and a heart for serving and helping others. He is sensitive to our particular needs and is a good teacher in helping us to understand a holistic picture of how to handle our finances. We wholeheartedly recommend Bill Thompson for your financial needs, you won’t regret it.”
“It has been an absolute pleasure to work with Bill regarding my short and long term goals. He really got to know me and tailored an overall solution that not only helped me save for retirement, but also to have plenty of cashflow for daily life. Following Bill’s advice has truly given me peace of mind.”
“The smartest move we have ever made financially was signing on with Bill Thompson. The value he provides is not limited to his extensive financial knowledge, but also the passion and the care he shows his clients. You could say that Bill lives and breathes “know your client”, getting to know his clients and tailoring strategies to help them get to where they want to go. It’s been 15 years and we can’t wait to work with Bill for the next 15.”
“Bill is our ‘go-to’ person when it comes to valuable financial advice. We started with very little in our savings, but after 3 years of listening to Bill and being prudent with our money, we have been able to build a tidy amount that just keeps on growing. Can’t say enough good things about him, meet with Bill right away!”
