(Image: watch by Triwa available at Holt Renfrew)
It really could not be more fitting that Financial Planning Week would land this week – starting today, November 16th 2015, and runing until Friday November 20th 2015 – because today is my very first Monday with a new full-time career as a blogger and “influencer” ahead of me. It may come as a surprise to some (although it is known to many) that I have been running GracieCarroll.com for the past four years while juggling a 9-5 job at the same time. This fall, I decided to (finally ) take that scary but exciting leap into the full time world of working for myself.
Now more than ever, I know that I have to get serious about my financial planning to ensure I can maintain managing my bills, and the home I live in and own with my partner. While this sunny Monday is my first Monday as the true #GIRLBOSS of my own life, this Friday November 20th marks my 28th birthday – which is just one more reason to A. celebrate and B. make sure I’m on the right track when it comes to my finances and investing in my future.
When TD Canada invited me to take the TD Savvy Saver Quiz, I was quick to take a few minutes out of my morning to see what the experts have to say about my current financial management and planning.
As you’ll see when you take this quiz for yourself, all you need to do is answer 10 quick questions using the TD Savvy Saver Quiz link to instantly get an idea of where you stand financially. After answering the questions, I informed that because I chose mostly Bs and Cs for my answers, it appears that I am established in my career and likely to approach the peak of my earning power.
While I certainly hope that is true (especially as I walk away from a comfortable steady pay cheque), it is, naturally, my personal goal to ensure I make my dreams come true and create a new life that takes care of me, and my family, just as well.
Just as TD says, now is the opportune time for me to harness my current power and make the most of new financial opportunities and map out investment goals for my future. Linda MacKay, Senior Vice President, Retail Savings and Investing, TD Canada Trust shared the following advice for those in the same financial situation as me:
- Stay on track. Continue making contributions to your TFSA and RRSPs, and if you have any big expenses in the near future, look into taking advantage of things like the federal Home Buyers’ Plan, for first-time buyers or the Lifelong Learning Plan (for further learning for you or your spouse).
- Top up those investments. You can also increase your contributions to these accounts each year, taking into account yearly inflation and changes to your salary.
- Check in with your financial advisor regularly. Revisiting and revising your financial plan periodically with a professional can help ensure you are on track. An advisor can also determine what other options and investments might also be available to you.
If you are unsure of where you are in terms of your own personal financial planning, I encourage you to take the quick quiz this week!
Good Luck!
xo
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