https://padlet.com/sierramcdonald96/ffvzj4egxx42 Learn how to be financially secure so you can retire comfortably en-us 2019-11-24 00:42:51 UTC 2019-11-26 04:49:56 UTC hello@padlet.com sierramcdonald96 https://padlet.com/sierramcdonald96/ffvzj4egxx42/wish/415738627 One of the fastest growing trends in Canada is the aging population. There are more Canadians that are older adults than children and that number is expected to rise. 
More and more Canadians, irregardless of age, are becoming affected by the increased cost of living. With that comes the fear of how they are going to save enough finances to retire.
This Padlet hopes to show how  to establish proper finances to retire comfortably.  ]]> 2019-11-24 00:44:48 UTC https://padlet.com/sierramcdonald96/ffvzj4egxx42/wish/415738627 sierramcdonald96 https://padlet.com/sierramcdonald96/ffvzj4egxx42/wish/415741272 Even if you don't have a lot of money to spare you can still do something that will not only help you financially but also contribute to establishing stability. Some tips this article goes over is staying withing your means, getting rid credit cards and trying to save anything helps. 
I chose this because many of the class are students and thus a few may relate to living paycheck to paycheck. This article goes over how even if you are struggling you can still prepare and work towards being financially stable.

]]> 2019-11-24 01:08:08 UTC https://padlet.com/sierramcdonald96/ffvzj4egxx42/wish/415741272 sierramcdonald96 https://padlet.com/sierramcdonald96/ffvzj4egxx42/wish/415742125 The Canadian Government provides all senior citizens additional income for when they retire. This money comes from contributions you made while you were working prior to retiring.  However, it is not automatic and you must apply for this in order  to receive funds. 
This article is good because it lets you know how early you can plan to retire - 70 for the most benefits. It also goes over how long it takes for your application to go through. This also mentions and provides links for other benefits some people may be eligible for. ]]> 2019-11-24 01:16:49 UTC https://padlet.com/sierramcdonald96/ffvzj4egxx42/wish/415742125 sierramcdonald96 https://padlet.com/sierramcdonald96/ffvzj4egxx42/wish/415742326 This article includes 7 tricks that any one can do at any stage of life or financial status. These include paying off debts, eliminating emotional spending.This helps establish financial security through knowing where your money comes from and eliminating debts. 
I chose this article because many of these steps students can do -such as getting a side job or cutting down on emotional spending. We also as a class went over creating budgets. ]]> 2019-11-24 01:18:58 UTC https://padlet.com/sierramcdonald96/ffvzj4egxx42/wish/415742326 sierramcdonald96 https://padlet.com/sierramcdonald96/ffvzj4egxx42/wish/415742689 This website focuses on establishing different rules of thumb to save or ensure you have enough for retirement. These include the x 25 rule, this is where you determine how much you are planning on withdrawing each year and multiplying it by 25.  This way you can determine how much you need  to save for and how long you are able to last without working. In this case it is assuming you are going to be retired for 25 years. 

A lot of considerations for retiring involves deciding how much you need and what you can live on. 
While there are guidelines and hints, there is often no definite answer for what you need to retire, as what you deem a "need"  may be a want for some one else. ]]> 2019-11-24 01:22:25 UTC https://padlet.com/sierramcdonald96/ffvzj4egxx42/wish/415742689 sierramcdonald96 https://padlet.com/sierramcdonald96/ffvzj4egxx42/wish/415743298  This video breaks down, how much you receive, where it goes and the different categories there are. These include C.P.P, O.A.S and G.I.S.   She also mentions that the original system of being with a company for 35 years guaranteed financial stability and good retirement money is no longer viable.  People coming into the workforce or starting out will have to create on their own a reliable source of income upon retiring without running out of money. 
This is a good visual, audio learning video on what types of accounts you need/ will get for retirement. ]]> 2019-11-24 01:29:10 UTC https://padlet.com/sierramcdonald96/ffvzj4egxx42/wish/415743298 sierramcdonald96 https://padlet.com/sierramcdonald96/ffvzj4egxx42/wish/415746309 This video goes over how  creating and establishing emergency funds  can help cover various expenses that pop up. It also talks about 2 essential emergency funds - rainy day and emergency savings. Doing this will prevent last minute scrambling and having to put it on your credit card. 
I chose this because it goes over the 2 types of savings. Realistically, how many people people freak out over a sudden expense or panic over not having a job? Being financially stable doesn't just involve not worrying about money, its more about being able to handle the unexpected. ]]> 2019-11-24 01:56:35 UTC https://padlet.com/sierramcdonald96/ffvzj4egxx42/wish/415746309 sierramcdonald96 https://padlet.com/sierramcdonald96/ffvzj4egxx42/wish/415746512 1. What did you learn about your topic that surprised you the most? 
I was shocked to learn that you have to apply for C.P.P. also how little and taxable it is. I always assumed it got mailed to you once you retire and it was a decent amount. 
2.  Provide a real life example of how this topic is relevant or interesting for you.
My parents have always encouraged financial security, and stressed the importance of retirement funds. As soon as I was 18 my parents had a financial adviser come over and discuss setting up a plan i can contribute to. 
This is also one of my financial goals; when I retire, I want to retire comfortably. This research is helpful for me to get started and learn some tips and tricks. 
3. If you could pass on your knowledge to a family member or friend, what do you think is the most important thing to pass on? 
One of the things I would pass on is limit or stop the credit card usage. Most articles stresses to limit their usage to online or out right don't use them. Through personal experience, not only does it leave you vulnerable to being hacked but using it adds up.  ]]> 2019-11-24 01:58:46 UTC https://padlet.com/sierramcdonald96/ffvzj4egxx42/wish/415746512 sierramcdonald96 https://padlet.com/sierramcdonald96/ffvzj4egxx42/wish/416484654 This video  goes over 7 simple steps towards gaining financial freedom.  These steps go over accepting money positively, establish goals,  constantly learning about finance and money,  establish what worked and didn't work.  What surprised me about this video is that one of the steps is to be kind and generous to friends and families. 
I chose this video because he establishes early on that you don't need to make an abundance of money to be considered financially free- it comes down to discipline and motivation. He also discusses how money doesn't necessarily make you happy. ]]> 2019-11-26 03:06:14 UTC https://padlet.com/sierramcdonald96/ffvzj4egxx42/wish/416484654 sierramcdonald96 https://padlet.com/sierramcdonald96/ffvzj4egxx42/wish/416495935 As this picture shows majority of Canadians are being increasingly aware of the increase of cost of living above anything else.  Surpassing even family members health.  
Some of the fears or concerns can be eliminated with establishing a good financial plan. By doing some of the tips provided in the articles on this Padlet can help alleviate the stress financially.
I chose this picture because provides a visual on how many people are affected. ]]> 2019-11-26 04:05:33 UTC https://padlet.com/sierramcdonald96/ffvzj4egxx42/wish/416495935 sierramcdonald96 https://padlet.com/sierramcdonald96/ffvzj4egxx42/wish/416501858 This picture highlights how the road to financial security can feel like. It starts with what you want (goals) and gradually you work way into it. It is good for illustrating how it is not a instantaneous solution or path, but rather a long road of being committed and dedicated to what you want in life. It also makes room for setbacks and adjustments. ]]> 2019-11-26 04:38:50 UTC https://padlet.com/sierramcdonald96/ffvzj4egxx42/wish/416501858