• richardmkiernicki

The Unconventional Conventional

Updated: Aug 6, 2019

Welcome to my column, my first ever. And I think I am going to enjoy this, if

you do, please let me know. Heck, even if you don’t, let me know. I was going to tell you a bit about the title and decided that I will let you fill in the meaning with whatever meaning you would like to give it as you become familiar with my column.


I am interested in financial independence, in particular, your financial independence. Are you going to be financially independent when you retire? Or have you decided that becoming financially independent is out of your reach? For many Canadians, the dream of becoming financially independent is just that, a dream. It is my intention, to empower readers with bits of unconventional wisdom that will have them ask more questions of their financial advisors and seek out perhaps slightly unconventional ways to increase their chances at

financial independence.


It has become clear that many Canadians will not reach their retirement goals for many different reasons. But probably the main reason for this is following the “conventional” wisdom.


The writing is on the wall, the middle class, previously the largest portion of the population, is slowly being eliminated. The “rich” will dutifully stand in line and make their RRSP contributions and know that they will be comfortable when they retire, but this column is more for those that feel they will not have the financial cushion to enjoy the “Golden Years” they have worked hard to secure and for the advisors who offer little practical advice to those really needing solid financial strategies. Contribution and rate of return become meaningless when the contribution is minimal and the return is negligible.


The faith that people had in their jobs and pension plans is quickly dropping and their belief that their government will look after them is cynical at best. Debt levels at the family level are increasing as income does not seem to cover the essential expenses. Even if you have a home that you may own free and clear after 25 years of paying the mortgage does not ensure your financial independence. Most of the wealth that we Canadians hold is in the fickle value of our real estate and if that drops, the dream of financial security falls farther and farther away.


With the government intervening in the amount of money you are allowed to borrow, and the banks who restrict everything else, this column will look for strategies that may be beneficial to those that truly want to win the retirement game regardless of the confines they may find themselves in.


Copyright 2012 Richard M. Kiernicki. All Rights Reserved.



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© 2019-2020 Richard M. Kiernicki. All rights reserved.

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