Author Archives: John Iaconetti

John Iaconetti

About John Iaconetti

Financial Advisor

TheGlobeandMail.com:

No single issue highlights the financial predicament of millennials like home ownership. Rising tuition costs and the growth in temporary work at the expense of permanent jobs are definitely challenges for young adults today. But the cost of houses outweighs them because it affects their financial well-being today, and in retirement. A poll to be issued by KPMG on Thursday lays out the problem in depressing detail. Millennials are eager to buy homes and bear the financial load, but they also recognize that the cost of home ownership will hurt their ability to save for retirement. Some will never afford a home, which means they won’t have a potentially valuable asset to deploy as part of their retirement plan.

We live in a society now that is heavily influenced by consumerism and what you have. Couple that with rising costs of living and it is no wonder that most Canadians are severely in debt. The article linked below looks at how much debt has impacted our society and puts the importance of paying down debt into perspective.

A recession is inevitable, the question was never if it would occur but when. Often the word recession strikes fear in most investors, but of course, because nobody likes to see their portfolio fall. Often times we don’t know we are in a recession until it is almost over. This is why we never try to time the market, investors cannot experience highs without experiencing some lows. The best bull markets occur after tough times.

The world around us is constantly becoming more expensive. Young adults have been dropped into a situation where the cost of living has grown at a rate much higher than the growth of household income. Couple that with the constant increase in tuition costs, it has never been more important to save.

CNBC.com:

“Almost two-thirds of millennials say they’re living paycheck to paycheck and only 38% feel financially stable, according to a new survey from Charles Schwab.

Millennials, more than any other generation surveyed by Schwab, feel the most insecure when it comes to their finances. That’s according to roughly 380 millennials (ages 23 to 38) surveyed for Schwab’s 2019 Modern Wealth report.”

Every year there has been new global initiatives to protect our environment and rightfully so. Latest environmental studies show that pollution and carbon emissions will lead to substantial changes in our earth by as early as 2050. It is our duty as humans to reverse the effects that we have had on the earth and prolong its existence for future generations.

Canada has taken a firm stance on reducing its ecological footprint. Currently there is a plan in place to ban all single use plastics in Canada by the year 2021. The following article in The Globe & Mail touches on some of the plastics that cause harm in our environment, why recycling may not be enough and how we can be better to our environment.