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.

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

Traditional Advertising vs. Social Media Advertising!

I have 3 radio shows that play across Canada with over 14 million listeners and my broadcasting partners sell ad space on my shows.  Recently, with the economic changes I have seen many sponsors leave their advertising campaigns, recoiling and reining in expenditures, to hunker down for an economic pullback.  This is surprising to me every time it happens – and I have witnessed it many times in different markets.  Everyone has lots of bravado and motivation when the going is easy, but when it gets harder, they cave, fold, and complain about “hard times.”  So, let’s look at how to increase your business presence, expand your brand and grow in a market that some say is on the cusp of a recession.  What should you do?  Should you not advertise at all to save money – or should you advertise now because no one else is, and it [...]

By |2022-11-03T17:40:43-04:003 November 2022|Daily Advice Tips, In the News|0 Comments

Dear Money Lady Readers: Are You a Good Judge of Someone’s Character?

Being a good judge of character is a unique and valuable skill.  One that will advance your career, increase your net worth, give you more personal friends, as well as make you more money.  If you can be a good judge of character, you will be able to avoid hiring mistakes, size up first impressions with your new boss and correctly focus on what matters to potential decision makers.  Judging someone on their skill and accomplishments is relatively objective and straightforward, but gauging their attitude is much harder and it will take a one-on-one meeting, attentive listening, and careful observation – something that is not provided by social media and the number of followers you have. If we turn it back on ourselves, the judgements other people make about you has a significant impact on your social world too, whether accurate or inaccurate, your reputation is everything.  The judgements [...]

By |2022-11-03T17:34:58-04:003 November 2022|Daily Advice Tips|0 Comments

The mystery behind Preferred Shares – should you consider them ?

I often have people ask me whether they should include preferred shares in their portfolio and although I am not a great fan of this investment product, I have many peers who use them exclusively in their client’s portfolios.  So, today let’s talk about all the different types that are available and you can see for yourself if this is an investment style you would like to entertain. What are they?  Preferred shares are corporate shares that are not classified as common or restricted.  Preferred shares usually receive a fixed dividend payment and are considered to have part ownership like common shareholders; however, they have a higher ranking than common shares as a claim on the asset.  Preferred shares are bought largely by income-oriented investors to take advantage of dividend tax credits.  There are several different options when choosing this investment.  Here are the most popular. Straight Preferred: Pay [...]

By |2022-11-03T17:26:40-04:003 November 2022|Daily Advice Tips|0 Comments

Dear Money Lady, I’m in my late 30’s and don’t have a Will. I’m married and have only one child. When should l get one – do I really need it?

You are not alone.  Many Canadians put off getting a Will because they either don’t want to spend the money or they don’t want to think about the possibility of dying.  This however is a big mistake.  Dying without a Will, means you will have absolutely no say about any of your assets or care for your children or pets once you die. Let’s just look at some of the immediate issues that will arise should you die without a Will.  First, the Canadian Government will immediately become the Executor of all your assets: homes, bank accounts, investments, personal belongings, everything you own.  The government will then freeze all access until they have completed a full audit, which may take 3-9 months.  Once your estate assets have been audited, all fees and taxation will be deducted before any disbursement to family.  A surviving spouse is entitled to the first $200K, [...]

By |2022-11-03T17:20:23-04:003 November 2022|Daily Advice Tips|0 Comments

“The Things You Do Can Cost You… But the Things You Don’t Do, Can Cost You Everything !”

Dear Money Lady readers:  I wanted to share this quote with you “The things you do can cost you... but the things you don’t do, can cost you everything !”  I was at a fantastic women’s event recently and was inspired to share with you the insights of this event.  One of the many speakers had a profound message: “You can’t quantify how much business you’re not getting through your non-efforts.”  Wow – isn’t that the truth! The real money you lose in life is the money you fail to earn.  If you are a small business owner, entrepreneur, or even an independent contractor, what are you doing to build your business today.  If you are not marketing and advertising, not selling, not networking or being active on social media sites or doing the basics of making phone calls – all this lack of effort will cost you.  And [...]

By |2022-10-31T20:18:15-04:0031 October 2022|Daily Advice Tips|0 Comments

What is a Co-Habitation Agreement & Why Do You Need One?

My eldest son recently declared he was moving in with his girlfriend after 14 months of dating to save money together for their future – without a ring or proposal.  I was quite surprised by this announcement since I am definitely an old school mum who believes you should be married or at least engaged to be living together.  But, trying to be more worldly, I have adjusted my archaic dinosaur ways to now realize that this is happening all the time with millennials, (all over the world).  A marriage certificate these days; to some of our younger Canadians, is just a piece of paper.  But as a life longer banker, I am inclined to get my two cents in there with my son since a new “living together relationship” still needs a transparent plan between both parties; and a detailed discussion to deal with the new set of [...]

By |2022-10-31T20:03:40-04:0031 October 2022|Uncategorized|0 Comments

Dear Money Lady, can you explain what mutual funds are, and which ones I should consider?

Of course! Let’s start by giving you a general overview of what a mutual fund is and why you should use it when investing. A mutual fund, (MF) is just that – a fund of different types of products such as stocks, bonds, and money markets. When you invest in a MF you invest money into the fund with everyone else, and by doing so, your contribution is measured in units. You will be given a number of units based on the daily market price called a NAV price per share (net asset value) and you will share in the income, gains, losses, and expenses of the fund you now partially own. MFs are a great way for any investor to take advantage of buying into a fund, managed by a professional investment specialist, whose sole goal is to analyze the financial markets and monitor performance. As well, [...]

By |2022-10-31T19:31:42-04:0031 October 2022|Daily Advice Tips|0 Comments

What are Annuities?  

I am often asked to discuss annuities, so today I want to delve a little deeper into this strategy, often used to create a lifelong income in retirement.  Life annuities are designed for clients who have insufficient savings and/or a very low risk tolerance to investing in the market.  There are four main types of annuities: straight life, joint life, term-certain and deferred.  We will discuss each one plus some of the added features you can opt for.  Straight life annuities are the simplest.  This annuity guarantees a periodic income for life with payments starting immediately minus a premium.  Be careful with this one.  This annuity does pay the highest amount for life, but when you die the payments stop and there is no payout to the estate.  The benefit from this plan is if you live longer than your life expectancy, you will benefit from the funds left [...]

By |2022-10-31T19:36:16-04:0027 October 2022|Daily Advice Tips|0 Comments

Alternative to a Reverse Mortgage!  

I was overwhelmed with the response from readers about the previous column I wrote on reverse mortgages.  There seems to be many Canadians considering this product as a way to inject the much needed funds into their later years of retirement.  Many of you had questions about other alternatives so I wanted to provide you with one that I believe would indeed be a better option: a collateral charge.  The problem with a reverse mortgage is, you will often receive a portion of your home equity as a lump-sum to do with as you wish, with no need for repayment until you either sell your home or you die.  Many people view the lump-sum like a lottery win and because they haven’t been good with money in the past, often burn through it faster than they anticipated.  Remember, with a reverse mortgage, there are no payments made to decrease [...]

By |2022-11-03T15:12:49-04:0027 October 2022|Daily Advice Tips|0 Comments
Go to Top