How do you reduce your risk of losing money in the market?
The best way to reduce your risk of losing money in the market is to: 1. Invest in different buckets of assets that reliably grow over time 2. Regularly rebalance between those buckets 3. Hold your investments for as long as possible In the next two months, the market...
Plan for the future. Don’t compromise on it.
I love my twin toddlers and would do anything for them. But I also don’t want to have to delay my retirement by five years or take out a second mortgage just so they can afford to get a good education. And the good news is that I won’t! That’s the value of financial...
It’s not just you. Insurance is super confusing for just about everybody.
Insurance is ridiculously confusing. I spend lots of my days talking to people about their needs, researching different policy options at different institutions, playing with the various calculators, figuring out what makes the most sense…and it’s still super...
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Taking on risk is like finding a bowl of porridge. It needs to be just right.
Are you taking too much risk with your investments? Or not nearly enough? You hear a lot about risk tolerance. But I think it’s far more important to be able to calibrate your risk. To understand whether you need to be more aggressive or less aggressive to get the...
Are you overpaying for insurance and not getting enough coverage?
When I start working with a new client, I’ll often try to find a few small wins to build momentum. An easy one that comes up all the time is related to insurance. Often people have collected a few different types of insurance over the years that don’t really make...
Your financial goals should be meaningful and specific.
If you want to reach your goals and build real wealth, you need to be consistent for a long time. To remain consistent over a long period of time, you need to be working toward the things you care about most. That’s where your personal finance journey begins. Not with...
You shouldn’t have all your money in the Canadian market
You shouldn’t have all your investments in the Canadian stock market. If you were British, would you have all your investments in the UK market? What if you were Chinese, Brazilian, or Russian? Would seem kinda risky, wouldn’t it? The Canadian market is no different....
The sooner you start saving for your kids’ future, the better their options will be.
Parents always want the best for their children. A bright future filled with endless opportunities. A great education. A big home. Personal and professional success. Everyone has good intentions. But where many parents fall short is in the specifics. There’s a big...
So you wanna take your finances to a whole nother level?
Some people call me Kirk Take-It-To-The-Next-Level Ramsay. Okay, nobody calls me that. But people really do call me when they’re looking to take their finances to the next level. What that means or looks like depends a lot on where they’re starting from. Sometimes...
The wealth-building recipe is simple.
When you boil down the wealth building recipe to its most basic ingredients, it’s super simple: Step 1: Spend less than you earn Step 2: Invest the difference in assets that grow over time Step 3: Repeat steps 1 and 2 consistently for years and years and years All the...
More info isn’t always a good thing.
One of the big myths in personal finance is that you need to always be following the markets, tracking a bunch of stocks, and reading every new report on interest rates, earnings, crypto and the price of oil. Here’s something that might come as a relief: you don’t....
Short-term greed hurts long-term results.
When it comes to investing, you don’t need to beat the best to be the best. In fact, trying to get the best returns in any given year is almost the exact wrong way to think about getting good investment returns over time. Why? Two related reasons. First, to get the...
Have you ever wanted a personal trainer for your finances?
Working with Tallkirk Financial Group is a lot like working with a personal trainer…but for your finances Could you just work out by yourself? Sure. But are you more likely to get hurt? Yup. Are you less likely to be consistent? Yup. Are you going to see the same...
Why a Whole Life insurance policy is a great place for your emergency fund
Having $10,000 in the bank in case of an emergency or sudden job loss is great. But having it sit in cash, earning almost no interest at all, and getting gobbled up by inflation isn’t so great. I always knew having money to handle unexpected expenses is super...
Whole Life insurance is the most underrated way to save for retirement.
When people think about saving for retirement, they immediately think two things: 1. Put a bunch of money in my RRSP 2. Pay off my mortgage And neither is a terrible idea (though maxing out your TFSA is usually the best place to start, and oftentimes it makes more...