Boomer & Echo
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Posts on savings, investing, debt management, mortgages, and everything else related to money and finance. Boomer & Echo is a Canadian personal finance blog with smart ideas on how you can achieve financial freedom at any age.
Boomer & Echo
5d ago
When is the best time of year to retire? For retirement projections 10-20 years out we might use a random date like your birthday, your pension’s normal retirement date, or the end of the year. Once you get closer to retirement, the details matter. For instance, you might consider timing your retirement date just after ..read more
Boomer & Echo
1w ago
“When the facts change, I change my mind. What do you do, sir?” – John Maynard Keynes (maybe) As a long-time mortgage holder, I’ve been adamant about a mortgage renewal strategy that goes something like this: Go variable when the 5-year variable rate is offered at a steep discount off of prime rate (prime minus ..read more
Boomer & Echo
2w ago
Asset allocation ETFs revolutionized investing for do-it-yourself investors when they were first introduced by Vanguard in 2018. Prior to the existence of these multi-asset ETFs, passive investors might have opted to follow one of the Canadian Couch Potato’s model portfolios to build their own multi-ETF portfolio (remember the 10-ETF Über-Tuber portfolio?). That’s why I say ..read more
Boomer & Echo
1M ago
The price of bitcoin is surging again and recently surpassed all-time highs. That has brought all of the ‘crypto bros’ out of hibernation to gloat about bitcoin taking over the financial system (or whatever they think happens next). Shares of NVIDIA Corp are also soaring to new heights. The semi-conductor company recently surpassed $2 trillion ..read more
Boomer & Echo
2M ago
We spent a few years building up a massive bank of travel points before our first trip to the U.K. in 2019. Indeed, we put nearly 1 million travel points to work booking flights and hotels for a 32-day trip to Scotland and Ireland. Then we went back to work replenishing travel points for our ..read more
Boomer & Echo
2M ago
“Will I be OK in Retirement?” “How much do I save this year if I don’t want to have to eat pet food when I’m 83?” “What do most Canadians spend each month after they retire? I don’t even know where to start with this stuff!” In response to questions like this, most mutual fund ..read more
Boomer & Echo
2M ago
One chief concern for retirees and the soon-to-be retired is when to convert their RRSP to a RRIF. A common misperception is that this conversion has to take place in the year you turn 71. While it’s true that your RRSP must be closed by December 31st of the year you turn 71 and the ..read more
Boomer & Echo
3M ago
Readers of Boomer and Echo are likely familiar with term life insurance (see B&E’s previous article on insurance). In years past, simply going to a life insurance shopping website and comparing premiums was sufficient – and that article talks about doing exactly that. But things have changed. Companies are tinkering with their term life insurance ..read more
Boomer & Echo
3M ago
Over the holidays I made a spending and savings plan for the new year. I reviewed our previous year’s finances and incorporated our new financial goals for the year. My wife and I discussed our “rich life” vision – what we want to do more of, what we what to do less of, what new ..read more
Boomer & Echo
3M ago
Stock markets rebounded in a big way last year after a taking it on the chin in 2022. It was technology stocks once again leading the way – with the NASDAQ gaining 52.28% (XQQ) in 2023. The vaunted S&P 500 also posted an impressive 24.39% gain in 2023 after falling nearly 20% in 2022 (XSP ..read more