The Real Life Money Launcher is for young adults – call them millennials, members of generations Y and Z or just twenty- and thirty-somethings. This is a demographic that must save harder than any previous generation, while also facing more choices about what to do in life.
For example, houses are steeply expensive compared to incomes and retirement saving is more imperative than ever because of the lack of jobs for young that include pensions. Meanwhile, some young adults today take a different view on balancing life and work. They may take time out of the workforce for extended travel or to improve their education or training.
The Real Life Money Launcher is designed to help people save and invest for multiple goals at the same time. Figure out how much you can afford to save and what you want to save or invest for. The launcher then helps you divide your savings so you make progress on multiple fronts.
For more real life help with your finances, check out the Real Life Ratio calculator. It’s for home buyers who want a tough assessment of how affordable a house or condo is. There’s much more to it than just paying the mortgage, property taxes and utilities.
Real Life Money Launcher
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Rob’s personal finance reading list…
She got into trouble by being too frugal
A blogger reports how her single-minded emphasis on a saving and frugality was temporarily derailed by a big splurge. She has some good ideas on how to sustainably live a frugal lifestyle.
Location, location, location
What makes for a good location in a house? Increasingly, it’s nearness to transit. Better transit links support property values.
How to protect yourself against cybercrime? Think like a criminal
That’s the advice from a technology expert on how to protect yourself having your personal data stolen.
Are crypto-currencies a bubble?
Yes, says the influential economist Nouriel Roubini, an expert on bubbles. “The more I thought about it, the more I started to realize that they had the features of a typical asset bubble.”
Today’s financial tool
How Canada’s stock markets are regulated to ensure fair trading of stocks. A short video from the Investment Industry Regulatory Organization of Canada.
Q: I am investing for the first time and am finding low risk ethical investing difficult to understand. I am reluctant to invest in companies that are not actively combatting global warming, low wages, arms, exploitation. I am also opposed to a high risk investments like individual stocks of my choosing. I like the idea of the restful sleep a market-linked GIC would offer. Am I stuck in a savings account forever?
A: First, let’s dispense with market-linked GICs. They’re a junk investment sold to people who believe the myth that you can get stock market-like returns without stock market risk. You won’t lose money in a market-linked GIC, but your returns will almost certainly fall short of the stock markets and, in fact, could be worse than regular GICs. Also, market-linked GICs are unlikely to have exposure the socially responsible stocks you’re interested in. So how about a compromise? Put most of your money in GICs from alternative banks or credit unions with top rates, and a little in a socially responsible mutual fund or exchange-traded fund?
Do you have a question for me? Send it my way. Sorry I can’t answer every one personally. Questions and answers are edited for length and clarity.
What I’ve been writing about
- A new tool for helping young adults find their financial footing
- A lot of Canadians seem to have stopped investing to pay down their debts
- How much should conservative, balanced and aggressive investors expect to make annually? (for Globe Unlimited subscribers)
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