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 [...]

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 [...]

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 [...]

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 [...]

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 [...]

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 [...]