Financial Independence

  “Beware of small expenses; a small leak will sink a great ship.” - Benjamin Franklin Is your wallet under pressure this year? You’re not alone. As costs rise and income sources become more unpredictable, managing money requires more than just old-school budgeting. The 50/30/20 budgeting framework has long been popularized for its simplicity. This rule has helped many people take control of their finances by dividing income into 50% for essential expenses, 30% for discretionary spending, and 20% for saving and debt repayment. It offers a practical starting point. It helps individuals align  their spending with real-life priorities- covering essential basics like rent, utilities, and groceries, while also carving out space for debt payoff and saving for the future. This rule suggests that individual can achieve their financial well-being by staying consistent in the framework. However, the current climate, shaped by rising inflation, gig economy growth with unstable income, an...

  In 2025, the concept of "retirement" for millennials aged roughly 29-44 isn't a fixed finish line at 65. It's a dynamic and evolving landscape shaped by unprecedented economic shifts, technological advancements, and shifting lifestyle aspirations.  Traditional retirement plans designed for previous generations simply don't work anymore. We're living longer, gig economy work is prevalent, and economic uncertainties like inflation, still a concern for many Canadians in 2025, with over 50% saying they have no disposable income, are impacting daily expenses and future savings. Many millennials face unique hurdles such as student loan burdens, high housing costs, housing affordability, and the psychological toll of economic uncertainty.  Despite these challenges, there's a strong desire for financial independence and a recognition that flexible, proactive planning is essential. A significant percentage of unretired Canadians expect to continue working in reti...