Hub Blogs

Hub Blogs contains fresh contributions written by Financial Independence Hub staff or contributors that have not appeared elsewhere first, or have been modified or customized for the Hub by the original blogger. In contrast, Top Blogs shows links to the best external financial blogs around the world.

Healthcare abroad: What about the Language Barrier?

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Thailand's Bumrungrad Hospital
Thailand’s Bumrungrad Hospital. Photo RetireEarlyLifestyle.com

By Billy & Akaisha Kaderli

Special to the Financial Independence Hub 

When it comes to navigating healthcare issues in a foreign country, lots of travelers or would-be Expats have a legitimate concern over the language barrier.

While there is a possibility that you could find yourself in the backwaters of Vietnam, in a lonely village in the mountains of China or Tibet, or spending the night in a hill tribe pueblo reachable only by rickety bridges, chances are you will be somewhere close to a civilized town or large city. In our decades of world travel through dozens of countries, our experience is that most medical professionals speak English or enough English to make the transaction go smoothly.

Service is Primary

In the hospitals of Thailand, we have discussed surgeries, received executive physicals, blood tests, colonoscopies, eye exams, sonograms, x-rays and more. But we are not fluent in Thai. How were we able to communicate about such complicated topics?

Not only do these professional medical personnel speak English, but we are issued a personal translator/assistant who takes us from office to office, procedure to procedure. She translates for us if necessary, keeps our paperwork together and wheels us around in the wheelchair if required. The fee for this service? About $2USD each visit.

It’s not a guessing game

Continue Reading…

How realistic is it to live only on cash?

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Repak-Headshot
Steve Repak

By Steve Repak, CFP

Special to the Financial Independence Hub

If you are in debt, you have probably heard over and over again that you should quit using credit cards and stick to using cash exclusively for purchases (aka “cash-only” purchases.)

In a previous article I explained that for some people it actually hurts to break a large bill like a $20, so only using cash may help you get your spending under control. I wanted to share some of the risks and benefits of a cash-only lifestyle and also show that you can still get out of debt if you want to use credit cards.

If getting out of debt is your goal, there are three things you must do in order to succeed regardless of whether you use cash or credit:

  1. Spend less money than you take home each week
  2. Build an emergency savings
  3. Develop and follow a get-out-of-debt plan

Cons of using cash

Continue Reading…

An advisor’s six top tips for personal finances

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AdrianBy Adrian Mastracci, KCM Wealth

Special to the Financial Independence Hub

Investors know that not all parts of personal finances are created equal. Some areas definitely have more impact on the money strategies.

Questions always arise as to which ones to best consider closely. I’ve identified a half dozen key money moves for practically everyone.

A smart step for individuals and families is to prioritize my six core financial matters. Place them at the front of the line and attend to them in detail.

Try not to start the discussions within the comforts of your home. Instead, plan a few walks with your spouse and, perhaps, Fido.

It’s a great way to enjoy the outdoors and have a relaxed chat about the finances.
Make it a fun outing by indulging in that favourite treat.

My suggestions touch on the core of investing, estate planning and retirement.
Your mission is to ensure that each area delivers.

Explore whether a few tweaks would fortify your foundations.
You want each area to fit like a glove into your total game plan.

I summarize six core areas that benefit from your focus: Continue Reading…

Don’t let Email be your Armageddon

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Conceptual image about electronic mail. How internet receive and sending email with mailbox.by Andy Sherwood

Special to the Financial Independence Hub

Raymond Tomlinson, who died a few weeks ago, had a lot of impact on your life. Who was Raymond Tomlinson? He was the computer programmer who invented email.

Way back in 1971 he successfully sent a message from one computer to another. He is also the person who popularized use of the ampersand – @ – for electronic communications. In the early days, of course, email was hailed as a great new way to communicate. Today we’re not so sure.

If you watch your finances – whether you are an investor, advisor or pundit – then taking charge of your emails can help you organize your time and make you more productive. And wealthier. In the same way that keeping to a budget, getting out of debt, and trying to save more money can straighten out your financial life, gaining control of your emails can help straighten out your life.

Over reliance on email

Email is certainly an improvement over putting paper in a package and then dropping it into a mailbox and waiting a few days for it to arrive. Email is instantaneous. But people rely on it more than they should. In fact, Continue Reading…

Upgrading technology in the Victory Lap

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Depositphotos_107159416_s-2015One of the key elements of the post-corporate Victory Lap Retirement lifestyle is self-employment. If this begins in your late 50s or early 60s, you’ll be living on multiple streams of income. Some of it may be passive, such as pension income (I draw from two modest corporate pensions, for example) or non-registered investment income, but a big component is continued earned income.

If you are no longer a salaried employee, it’s probably best to set up a sole proprietorship or even incorporate. I’ve always run a corporation alongside salaried employment and have found that once you’re fulltime in business for yourself, It’s hard to generate as much pre-tax income as a salaried corporate job does. However, there are significant compensations in time and flexibility, plus the net after-tax proceeds of self-employment are relatively more attractive than being a fully-taxed-at-source salaried employee.

One reason is the allowable deductions or “write-offs” for legitimate business expenses, which may include certain computer equipment, software and some services. Obviously you should consult with a tax professional and engage an accountant because you don’t want to trigger an audit from the Canada Revenue Agency. After all, it’s clear the new Liberal government regards self-employment with suspicion: my guideline is to “assume an audit” and act accordingly.

Time to upgrade equipment

I am writing this article on brand new equipment that replaces products that were as old as six years. My fiscal year-end is the end of May and it’s been a decent year revenue-wise, so it seemed like a good time to book some legitimate expenses. Those whose calendar year-end correspond with their fiscal year (i.e. Dec. 31st) would go through this process at the end the calendar year.

241362-apple-macbook-air-13-inchIn my case, apart from the tax considerations of booking valid deductions, it really was time to upgrade the single most important business tool I use, which was an Apple MacBook Air.

After six years the machine had just about used up its storage and processing capacity and I had begun to lose significant chunks of time rebooting and closing applications. Continue Reading…