Finding Financial Peace in Turbulent Times
by Kelly Collier, CMA, B.Comm
Tired of all the bad financial news and the naysayers and the bad financial data? My advice is – stop listening, this too will pass.
Don’t get me wrong, there are some serious issues out there, and I am not trying to minimize that. I am simply saying, hang in there and don’t panic. If you have a well diversified investment portfolio and do not need the cash, don’t buy into the panic selling. The way I think of it is that you have not really lost anything until you actually sell it. Over the long term, things will rebound as they always have.
In the mean time, keep doing the simple things that will save you tax dollars, such as making RRSP contributions and looking into the new Tax Free Savings Account (TFSA).
It is a great time to look for silver linings. For example, mortgage interest rates are very low right now, so it is a great time to look at refinancing as there may be significant savings on your house payments.
If you are concerned about keeping your job, now is the time to make sure you are on top of your game at work. You will get noticed by maintaining a positive outlook and continuing to contribute over and above your bosses expectations, while maintaining a healthy work and family balance. Increase your value by taking some courses that will help you become even better at your job and increase your skill set.