47% On Financial Edge

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Do you have things in order when it comes to your finances? If you’re not sure, you’re not alone.

Your current situation is not always an indication of what is needed for the future and to live the lifestyle you desire.  Your paycheque may take care of your fixed expenses, but then when you try to save or reward yourself, there is very little left over at the end of the month.   This recent article in the Ottawa Citizen got my attention and I just had to share it with you. Click here to see how Canadians are living on financial edge…a.k.a….paycheque to paycheque. More money is now needed for retirement, than initially anticipated with $1 million to $3 million required to build a solid nest egg.

Here’s the thing, we talk about our physical health, being the most important, because without it, nothing else matters.  I absolutely know this truth after losing my father at 49 years of age to pancreatic cancer and my sister of 53 years of age to breast cancer.  But, I do also know that financial problems are a big cause of stress on our health. That’s why I believe in keeping them both in check…health and finances go hand in hand.

Have you considered a turnkey side business to create more income?  I remember, years ago, when our financial advisor recommended to my husband and I, that we have a side business, so that we can lower our taxes and also build another income stream.  I did not take him very seriously, until I studied entrepreneurship. I highly recommend, to do your due diligence on a potential side busines because the benefits are huge!

About the author 

Deborah MacDonald

After almost 25 years as an entrepreneur, I continue to grow my business, my passive income streams and my wealth. And now I mentor others on their wealth journeys by teaching them how to fund their own freedom lifestyle.

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