Private banking insights hub

It’s uncomfortable thinking about death and having to put measures in place that deal with what you leave behind. But if you want to ensure your family is taken care of after your death and that your assets are distributed according to your wishes, you need to be prepared.

If you have been looking for a way to start building your investment portfolio or creating a financial safety net, a Tax-Free Savings Account (TFSA) can be a great, cost-effective option to get you started.

A financial plan provides a complete outline of your current finances and financial goals and a roadmap to achieve those goals. Creating and having one is an important step towards securing your financial future, helping you manage your money more efficiently and make informed decisions about your finances and lifestyle.

If you’re ready to start saving for the first time or perhaps you’re starting to save again from scratch, getting over that hurdle of taking the first step is the most difficult and takes the most determination. That’s because humans are creatures of habit, and changing those habits is uncomfortable.

Your savings are a fundamental part of achieving financial stability and your financial goals. Savings not only create a buffer when the unexpected happens; they’re also the foundation for helping you build wealth.

If you want to start investing, are new to the concept of investing, or you’re looking for different avenues to invest in, it can be overwhelming to know where to start and what to expect. Investing isn’t a one-size-fits all approach, but understanding the basics that should underpin your decision will make your investment journey easier and potentially more fruitful.

Achieving your goals and gaining financial security requires careful planning and using the right products. Think of it as a specific vehicle to get you to your destination, but with so many financial products out there, where do you start?

To maintain financial stability and achieve your long-term financial goal, it’s important to check in with your financial plans, budget and goals (at least) annually to ensure they’re in tip-top shape.

Investing is an essential part of building wealth and securing financial stability, but investing involves certain risk factors, and the possibility of losing money is always present. One way to mitigate this risk is through diversification of your investment portfolio.

Wondering how you’re going to save or invest enough money to comfortably enjoy your golden years?

Nobody likes talking about death, much less planning for it, but having the proper financial arrangements in place is essential to ensure that those left behind don’t have to carry the financial burden of someone’s passing while grieving.

Most young people don’t think of getting life cover (i.e. life insurance), but they should. Besides the important reasons to get life cover, there are also distinct benefits to getting insured in your 20s already, from fewer exclusions and fewer added risk charges to lower premiums in the long run.

Having the right attitude and mindset are powerful forces for achieving your goals. When it comes to investing, your mindset influences not only your outlook but also your decisions. The right mindset can help you weather the storms, see the possibilities and manage your money wisely.

Financial freedom and financial independence are often used interchangeably, considering that both concepts refer to a desired state of security and control of your finances. However, they are different, and the one is a step towards the other.

Tailoring a financial plan specifically for your needs requires understanding how different insurance and financial products work and how they can help you achieve your financial objectives.

Getting an unexpected inflow of extra money from a tax refund or bonus is exciting, and it can be tempting to spend it on spoils for yourself and others. While it’s important to enjoy your money, and treating yourself is reasonable, consider using (some of) the extra cash to serve your financial goals. 

Investing is a great way to grow your money and your wealth, but it does come with some risks. It’s important to understand what risk means and what the relationship is between risk and reward so that you can determine whether it’s worth putting your money on the line and what you can do to avoid potential losses.