Everyone can agree that improving our daily habits should greatly impact our life and our future, yet we all tend to do the same things every day, rather than something better. Many people walk through life in a cognitive slumber, blindly following the norms attached to their identity. “I’m terrible with directions.” “I’m not good with technology.” “I’m not a morning person.” Why is it so easy to repeat bad habits and so hard to form good ones? This time next year – will you have made things better or [...]

This is a very good question – and there are many other ways to make money instead of the traditional method of purchasing securities in the stock market. Let’s look at the top five. Remember, the key to investing wisely is to choose an investment that will monetize upon itself, to grow and compound over time. You want some type of appreciating asset that you can rely on to provide a revenue stream once in retirement. Financial planners and advisors want to do this through the stock market encouraging most [...]

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 [...]

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 [...]

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 [...]

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 [...]

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 [...]

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 [...]

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 [...]