Finance
Embracing the next chapter: A personal finance writer’s journey to retirement
A couple of years ago, I wrote a column about how to have a retirement worth saving for. It ended with a quote from personal finance educator Barbara O’Neill, who reflected on how the pandemic disrupted many retirees’ plans. “It wasn’t just two years lost, it was two good years,” O’Neill said then. “You don’t know how many of those you have left.” One of my younger colleagues objected to that sentiment, saying it was a jarring ending to an otherwise upbeat column. But my older co-workers got it. Those of us who currently have good health and energy don’t know how long those blessings will last. There’s no guarantee we’ll get to enjoy the retirements we have planned.
That lesson was driven home in July 2023, when a longtime colleague died at age 61. We’d had many talks over the years about the retirement he had envisioned. It’s heartbreaking that his dreams will never happen. But his death was the push I needed to make my own decision. By the time you read this, I will have retired from my job at personal finance site NerdWallet.
MAKING THE DECISION WAS SURPRISINGLY HARD
When our financial planner told us we could afford to retire, my initial reaction wasn’t joy but bemusement. I’ve been writing about retirement planning for three decades and saving for even longer, but it was always a goal in the distant, misty future. Making the decision felt like jumping off a cliff.
Would I be OK without the intellectual challenges, social interactions and sense of satisfaction I get from my job? Had I accomplished everything I wanted to in my career? And just how much would I miss that nice, steady paycheck and all the wonderful benefits NerdWallet provides, including massively subsidized health care?
DOING WHAT A JOURNALIST DOES: RESEARCH
At this point, I have to acknowledge the huge privilege of even having a choice about when to retire. Almost half of retirees leave the workforce earlier than they planned, according to the Employee Benefit Research Institute. Some are laid off or forced out. Others have health issues or must care for loved ones who are sick or disabled. Many people keep working out of necessity: They have bills to pay and too little savings.
Knowing all that didn’t make the choice easy, however. So I did what I do best: copious research. I found it hugely helpful to read O’Neill’s book, “Flipping a Switch: Your Guide to Happiness and Financial Security in Later Life.” Another good read is “Independence Day: What I Learned About Retirement from Some Who’ve Done It and Some Who Never Will,” by Steve Lopez, my former Los Angeles Times colleague.
My husband and I had many, many discussions with our financial planner. We asked her to rerun our plan with different assumptions about what we’d spend, how we’d tap our funds, what the markets might do and what we’d earn with part-time work. This stress testing gave us confidence in our plan.
Our planner also connected us with an insurance agent who helped us figure out health coverage. My husband is old enough for Medicare, but I’m a few years shy of 65 and we have a daughter going to college in another state. I’m glad we have the option to buy health insurance through the Affordable Care Act exchanges. But continuing my employer’s group coverage for my daughter and myself through the Consolidated Omnibus Budget Reconciliation Act (COBRA) turned out to be the most cost-effective option for now.
Our financial plan worked and health care was solved, but emotionally I was still resisting. Ultimately, I realized why. I was looking at retirement solely as an ending.
LOOKING AHEAD, RATHER THAN BACK
With previous big life changes — buying a home, getting married, having a child, starting new jobs — excitement about the adventure to come quickly overcame concerns about what I was giving up. I needed to stop focusing on what I was retiring from and start contemplating what I was retiring to.
Today, I’m seeing retirement for what it is: the beginning of an interesting new chapter in our lives. The time I once spent building a career will be invested in travel, volunteering, and deepening relationships with friends and family.
I’m proud of what I’ve accomplished. I’ve won awards, written five books, contributed to the growth of a company (NerdWallet) and its award-winning podcast (“Smart Money”). Most importantly, I’ve helped people solve their money problems. I’ll continue with that last part, but I’m also looking forward to the rest of what comes next.
Written by Jitendra Parashar at The Motley Fool Canada
Dividend investing can be one of the simplest ways to build long-term wealth while creating a steady stream of passive income. But in my opinion, a good dividend stock is about much more than just a high yield. Beyond dividend yield, investors should also look for companies with durable businesses, reliable cash flows, and a history of rewarding shareholders consistently over time.
That’s exactly why many investors turn to financial stocks. Banks and asset managers often generate recurring earnings through lending, investing, and wealth management activities, allowing them to support stable dividend payments even during uncertain market conditions.
Two Canadian financial stocks that stand out right now are AGF Management (TSX:AGF.B) and Toronto-Dominion Bank (TSX:TD). Both companies offer attractive dividends backed by solid financial performance and long-term growth strategies. In this article, I’ll explain why these two financial stocks could be worth considering for income-focused investors right now.
AGF Management stock continues to reward shareholders
AGF Management is a Toronto-based asset manager with businesses across investments, private markets, and wealth management. Through these divisions, the company offers equity, fixed income, alternative, and multi-asset investment strategies to retail, institutional, and private wealth clients.
Following a 59% rally over the last 12 months, AGF stock currently trades at $16.67 per share with a market cap of roughly $1.1 billion. At current levels, the stock offers a quarterly dividend yield of 3.3%.
One reason behind AGF’s strong recent performance is its increasingly diversified business model. The company has expanded its investment capabilities and broadened its geographic reach, helping it perform well across varying market environments.
In the first quarter of its fiscal 2026 (ended in February), AGF posted free cash flow of $36 million, up 14% year over year (YoY), driven mainly by higher management, advisory, and administration fees. These fees climbed to $92.5 million as demand for the company’s investment offerings strengthened.
AGF has also been focusing on expanding its alternative investment business and introducing new investment products. With strong cash generation and growing demand for alternative investments, AGF Management looks well-positioned to continue rewarding investors over the long term.
TD Bank stock remains a dependable dividend giant
Toronto-Dominion Bank, or TD Bank, is one of North America’s largest banks, serving millions of customers through its Canadian banking, U.S. retail banking, wealth management and insurance, and wholesale banking operations.
Finance
Martha Aguirre, former El Paso ISD interim superintendent, resigns as CFO as district finds ‘key financial challenges’
El Paso Independent School District Chief Financial Officer Martha Aguirre, who served as interim superintendent last year, resigned this week as the district said it had discovered “key financial challenges.”
The district issued a news release late Thursday afternoon that lacked details but indicated that a recent review had raised questions about the district’s fund balances, a key indicator of financial health.
“Through this process, key financial challenges were identified that must be addressed prior to closing out the 2025-26 school year including a current budget shortfall that is being actively addressed ahead of the district’s final financial presentation to the Board of Trustees in June,” the news release said.
A CFO is charged with developing a school district’s budget and overseeing its finance department. The EPISD Board of Trustees must adopt a budget for the 2026-27 school year by the end of the fiscal year June 30. The operating budget for the current school year is $547 million.
EPISD Deputy Superintendent David Bates will oversee the budget while the district searches for an interim and permanent CFO, district officials said in a statement.
EPISD Board President Leah Hanany said trustees were notified about Aguirre’s resignation this week. She said the district plans to give the public more information on the current year’s budget during a board meeting later this month.
“The board was also notified of a potential budget shortfall for the 2025 budget, but we don’t have final numbers yet. My understanding is that we are still primed to pass a balanced budget for fiscal year 2026-27 in June,” Hanany said in a statement.
Aguirre could not be reached for comment. EPISD’s CFO makes $148,200 to $209,900 a year, according to the district’s administrative pay plan.
She served as EPISD’s interim superintendent from June to December 2025 after the district’s former superintendent, Diana Sayavedra, resigned under pressure from the board. She returned to her position as CFO when Brian Lusk was hired as EPISD’s new permanent superintendent.
Aguirre’s resignation comes amid an uncertain budget season after a state funding calculation error tied to school property tax breaks caused EPISD to lose out on $17 million in projected revenue. In late April, EPISD officials estimated it would cause the district’s spending to exceed its revenue next year by $10 million.
The district is also considering calling for a bond election in November to upgrade its aging campuses as part of the larger 2024 Destination District Redesign initiative to close schools and improve the ones that remain open.
El Paso Teachers’ Association President Norma De La Rosa said Aguirre’s departure was unexpected.
“We’re right in the middle of the committee meetings for a possible bond and getting ready to get that budget to the June board meeting for next school year. So, to say that I’m highly surprised is an understatement,” De La Rosa told El Paso Matters.
Aguirre started working with the district in 1996 as a general clerk, according to a video published by the district.
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