About AskMoneyLady

Christine Ibbotson is an Canadian Author, National and Syndicated News Columnist, and Professional Financial Speaker and Presenter. She also has three radio shows called the “Ask The Money Lady Minute,” “Your Money Today” and a live-call in show called “Ask The Money Lady.” She writes for over 630 Newspapers in Canada with over 21 million readers and is heard on 327 radio stations across Canada. Christine is the Author of her book entitled "How to Retire Debt Free & Wealthy" available on Amazon and Indigo. In How to Retire Debt-Free and Wealthy, Christine offers accessible and realistic guidelines in a series of achievable steps, from debt elimination to wealth management, teaching readers how to create their own customizable financial plans.

Dear Money Lady,  My adult daughter just moved back home to save money and brought her boyfriend with her.  I like the boyfriend, but right now he doesn’t have a job…

I always told my kids I would help them as best I could – but I never thought they would come back to live with me.  I am 74 and I like living on my own and I don’t think I can afford to keep them here.  Please help.      (PS: they also have two big dogs and I have a 12-year-old cat – ouch!).     Margaret   I feel for you Margaret – you need to set some ground rules – NOW !! Today there are many parents like Margaret.  While helping our children is something we expect to do as parents, at least until they are financially independent, it is important to realize the long-term cost this can have on our own future.  Many parents are still financially supporting their adult children or have them still living at home with no costs, free rent, and the fridge full. Unfortunately, [...]

By |2023-01-22T12:10:20-05:0022 January 2023|Daily Advice Tips|0 Comments

Why not consider diversifying your portfolio in part with structured notes?

Dear Money Lady Readers, Many of you have sent me emails with genuine worry about your retirement portfolios as we ride the waves of high inflation, lending rates, and low stock market returns.  I want to introduce you to an alternative to securities, mutual funds or exchange traded funds (ETFs).  Why not consider diversifying your portfolio in part with structured notes?   There is something for everyone in the Structured Notes (SN) arena because they vary by complexity and risk.  They are certainly not for everyone; however, are still a good investment product to consider adding to your portfolio for further diversification.  The reason I like these products is because they are easily available at your retail bank and can give you a much better return than simple GICs.  For the most part, the basic SNs have a guaranteed payout amount on a guaranteed redemption date, making the return [...]

By |2023-01-22T12:01:32-05:0022 January 2023|Daily Advice Tips|0 Comments

Dear Money Lady Readers: I have written about legacies before, but wanted to share it with you again as we enter a new year.

I often travel across the country doing speaking events and had the privilege of speaking to a charity in December.  After the event, I spent some time with a group of ladies, (all over 70 years), who were very active in their communities.   As I worked my way through the group, meeting all these wonderful women, I realized each one had single handily enriched their retirements by supporting a cause they believed in.  They seemed younger than their years, they were happy, vibrant and all beautiful women.  All from various backgrounds, most were widowed or single, and all from urban and rural areas of the province.  I was very impressed.  You see, they all had one thing in common:  creating their own unique legacies through the act of service to others.  It struck me that these women had true purpose, they were all involved in different things, and they [...]

By |2023-01-22T11:54:49-05:0022 January 2023|Daily Advice Tips|0 Comments

Have you heard about the tax free First Home Savings Account, FHSA?

Many first-time home buyers have cooled off and ceased their house hunting searches as the market levels off with interest rates still climbing.  Home prices have still not dropped down as low as some buyers were hoping for; and as we sit poised for another year, it is now anyone’s guess what will happen. Many economists say the interest rates will climb even higher especially with the Canadian prime rate inching it’s way closer to 7%.  But there are also those, like myself, who approved mortgages for clients in the early 90’s with rates at 10.75% and 11.50% who believe today’s market is a totally different economic environment.  The Bank of Canada will increase the prime rate to slow down inflation which economists believe will decline by this year’s third quarter.  Most of the current run-up in inflation now is still due to supply-chain constraints and is not believed [...]

By |2023-01-22T11:47:33-05:0022 January 2023|Daily Advice Tips, In the News|0 Comments

Dear Money Lady Readers: According to a recent Stats Canada study, 1 out of 5 Canadians have saved over $300,000 for their retirement. That means, there are still 4 other Canadians that obviously have less than $300,000 saved.

So, let’s talk about what to do if you have low-income or maybe the occasional no-income situation and are finding it hard to save. What can you do to budget and save for future expenditures, let alone a retirement fund? It is much harder for those impoverished to improve their situation than it is for those in our middle-class, especially today. That being said, there are many poor that have much more drive, determination, and fortitude than some who have money. I can guarantee you; many low-income Canadians struggle with a lot more hardships and many things that most middle-class Canadians would never be able to endure. Poor people, especially single parents, have a lot of challenges and not having enough money for ordinary things that others take for granted causes many in poverty to make decisions that are necessary at the moment, not having the luxury to save [...]

By |2022-12-30T13:45:55-05:0030 December 2022|Daily Advice Tips|0 Comments

Dear Money Lady, I am in my 70’s and remember when rates were 18%. I wondered if you think we are headed for a recession in 2023?

To answer you honestly – I’m not sure. Let me tell you why. Currently no one knows for sure where inflation is headed or whether it will continue to be volatile. The three-month trend is averaging 5.8% so there is no denying that it is a force to be reckoned with in 2023. Basically, economists and analysts, have very little experience with true inflation other than what we witnessed in the late 70’s and early 80’s, when you witnessed interest rates at 18%. I will agree, that Canadians should indeed brace themselves for continued instabilities in the markets for the beginning of next year; but it seems hard to predict which way inflation, rates and the financial markets will go in the latter part of 2023. There are many bullish and persuasive commentators that took the CPI results, (Consumer Price Index) as a positive sign that we had reached [...]

By |2022-12-30T13:28:19-05:0030 December 2022|Daily Advice Tips, In the News|0 Comments

Dear Money Lady Readers: Do you unknowingly sabotage your prospects for the future?

As you head into the balance of this year and make plans for 2023, we all challenge ourselves to do better in the new year. Lose weight, get more fit, balance your budget, pay off consumer debt, save to buy a home, the list can be endless with our self-improvement goals. Whether changes to your health or your wealth, the methodology is the same. In fact, I guarantee that if you follow these three steps, you will lower your debts, increase your bank account, and maybe even improve your diet or lose weight all at the same time. I need you to think about saving for your future like going into battle. We all know that spending too much will ruin your future, your security, and your ability to make choices. Since we are drawing similarities to your health, eating too much will make you fat, sick and possibly [...]

By |2022-12-30T13:15:40-05:0030 December 2022|Daily Advice Tips|0 Comments

Dear Money Lady: I need some help with my investments, I have lost so much money in the market this year. I have an advisor, but he doesn’t seem to know what to do.

Another great question! There are many different viewpoints on how to invest so let’s cover the basics and some questions you can ask your financial advisor to get you making money. Not everyone acts the same with loss and although we like to think we are rational in our decisions, the research and evidence suggests that all investors (and some advisors) tend to sometimes act irrationally with errors in judgment caused by greed, emotion, and the fear of loss. Basically, there are two ways that most Canadians invest in the market today: (1) fixed income investing, or (2) guided stock portfolios (Exchange Traded Funds/ETFs + Mutual Funds/MFs). To take advantage of upswings you want to be invested in securities, but to add stability to your investments you also want to hold fixed products too. Let’s talk about both. Fixed income investing is primarily a rules-based investment philosophy that takes [...]

By |2022-12-30T12:58:40-05:0030 December 2022|Daily Advice Tips|0 Comments

Dear Money Lady – I have not topped up my TFSA, should I do it now in December or wait until January?

Great question! – I think a lot of people are wondering this too. I don’t believe in timing the stock market; however, December and January have specific attributes that the other months of the year just don’t have. So, let’s talk about that. For those of you that regularly invest in the equity markets, you may have noticed that your portfolio always takes a bit of a hit at the end of November.  This is due to the month-end pension fund portfolio rebalancing done by large mutual fund companies and institutional managed accounts. Typically, markets are always headed into a bit of a soft patch towards the Christmas season, and we should expect a slight pullback.  Often viewed by advisors as the “sweet-month,” this is usually a good time to put money into the market to continue to build a higher return anticipated to come in the new year.  [...]

By |2022-12-30T12:47:20-05:0030 December 2022|Daily Advice Tips, In the News|0 Comments

Have they said you’re too old to start a business? Here are 5 business ideas to do over 60.

There are many people over 60 wanting to retire from their conventional jobs and finally work for themselves.  There are even those that may be older and now retired who want to return to work but require a flexible schedule.  So why shouldn’t you consider working in retirement?   Today we look at five options that you can do it on your own terms, as a self-employed entrepreneur, with your own rules and work arrangements that now fit into your schedule and not that of a demanding employer. Working virtually has taken on a new meaning after Covid and more and more people, especially those in the “lap-top class” are working from home, only having to go in a few days a month.  This may be great for some, but for others, the stressful demands are still there when you work for someone else.  Contracting could be the solution, so [...]

By |2022-11-03T17:50:33-04:003 November 2022|Daily Advice Tips|0 Comments
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