Dear Money Lady Readers, do you know the difference between the Big-5 Banks and a Canadian Credit Union?

2023-10-13T17:41:25-04:00By |Daily Advice Tips, In the News|

We’re all stressing about inflation and interest rates these days and the demand for “good” financial advice is on the rise. Homeownership, mortgage renewals, investment assistance, and basic budgeting can’t be found on social media sites. That being said, most people automatically gravitate to one of Canada’s largest banks, (BMO, RBC, TD, BNS, and CIBC) especially millennials, and why not? The “Big-5” now dominate this country’s financial sector with approximately $1.05 trillion in [...]

Dear Money Lady, I’m wondering if you can  provide advice on RESPs. We have 2 kids currently aged 14 and 16. We opened a family RESP account…

2023-10-13T17:29:50-04:00By |Daily Advice Tips, In the News|

...approximately 12 years ago contributing monthly.  We have no idea how to plan for future expenses beyond the basic tuition. I’ve read online that a car purchase could be deemed eligible for a student, but I’m not certain. Do I need to get a financial advisor to help? Carol. Dear Carol, I’ve always recommend having a Family RESP plan versus individual plans because it has so much more flexibility – so you were [...]

Dear Money Lady Readers – I’ve received so many emails about this, I wanted to address how some of you may be feeling about the shame of past money decisions now that the interest rates are on the rise.

2023-10-13T17:16:27-04:00By |Daily Advice Tips, In the News|

With the low lending rates that we all enjoyed for over ten years many of us borrowed to improve our lives. We did renovations, upgraded cars, or bought cottages and rental properties. It was easy to qualify, and it seemed like the banks were giving money away. Now that the rates are on the rise, and we are being told we may never see them down to the 2% range again – [...]

Dear Money Lady, I have to renew my fixed rate mortgage into a rate that is now 4% higher…

2023-10-13T17:07:45-04:00By |Daily Advice Tips, In the News|

... and I was not sure what term to choose. What should I do? Thanks, Jenn. Dear Jenn, Great question – now is the time to lock up a mortgage renewal into a shorter term to ride things out! I was driving back from Toronto last week and I was flipping through all the radio channels, and I came across this guy spouting off mortgage advice to listeners which was so [...]

Have you ever looked at the story of your life and decided you wanted a different one?

2023-10-06T15:08:48-04:00By |Daily Advice Tips, In the News|

Often times the new story to a new life is right in front of you, but for whatever reason we can’t see it, can’t feel it, and certainly can’t imagine making a change. Changing the course of your future always brings new opportunities that in the beginning could never be imagined. A new career, new friends, more money, more love, it is all there for those who want a different story. Of [...]

Dear Money Lady, In my newspaper this morning there was an article from you on the subject of reverse mortgages…

2023-10-06T15:11:38-04:00By |Daily Advice Tips, In the News|

... A lady on a fixed income had written you seeking your advice on this subject.  A couple of years ago I was considering a reverse mortgage because I was in a similar situation - asset rich, cash poor. Then I read an article from you on the subject of a collateral charge, and I watched your video on youtube and decided this was a better option for me. The reverse mortgage companies [...]

Are you taking advantage of the July Benefits from the Canadian Government?

2023-10-06T14:48:37-04:00By |Daily Advice Tips, In the News|

Due to higher interest rates, increased inflation and the rising costs of the basics, families all across Canada are feeling the squeeze. This is especially painful for our seniors on a fixed income. There are two ways that inflation hits a retirement portfolio. First you withdraw more to meet the higher priced living expenses and second the central banks increase interest rates, which pushes down share prices and reduces the value of equity [...]

My advisor suggested investing in annuities and the way he made it sound I was really thinking of doing it. Could you tell me what you think?

2023-09-30T14:45:26-04:00By |In the News|

Annuities are a great way to save for the future and usually chosen by someone who does not want to be concerned with the ups and downs of the stock market, but instead prefers a “set-it and leave-it” strategy with a guaranteed monthly income for life. All annuities are insurance products and vary widely based on the provider. Clients can choose an index tailored to specific profiles, such as conservative, moderate, [...]

Do you know where you are going in life? If you don’t know where you are going – any path will take you there!

2023-09-30T14:38:54-04:00By |In the News|

We all know that goal setting is the key to success. It provides us with the strength to keep going when times are tough, and it gives us direction when we feel lost. But what if you don’t have any goals? Well, you need to pick a goal – any goal – your best guess for today will do! I don’t want you to procrastinate and wait for the perfect goal. Pick [...]

Dear Money Lady, I have been offered a new job as a contractor and I am not sure if I should take it. Could you tell me what the difference is between an employee versus a contractor?

2023-09-30T14:30:47-04:00By |In the News|

Great question – one that most people should know! Most Canadians, if given the chance to take a contracted position over an employee position will always choose the employee placement, thinking it is more secure and better than being labelled an independent contractor. This is a false notion, one that always leaves a lot of money on the table. Long-time contracted Canadians know the benefits of this employment choice and often would [...]

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