I received a large severance from my employer that recently eliminated my job after 38 years. I plan to find an Advisor, but because I have never had one before I am wondering what I should pay for their services.

You are not the only one looking around for a new investment advisor. With the volatile stock market environment, many people have sent me comments and questions about how to move their portfolios to a new advisor. I would caution those investors on making any quick changes and selling stock at this time. Remember, the key is to maintain a well-diversified portfolio which includes bonds, cash, and high-quality stocks. When you are looking for an investment “partner,” try to pick an advisor who really has your best interests at heart; someone you will definitely need when weathering future market uncertainties. Please make sure to do your homework and find out what the firm and the new advisor’s value proposition is. It goes without saying that you should interview more than one and make sure you find a good fit with not only the advisor but also the brokerage firm. [...]

By |2023-04-15T12:36:35-04:0015 April 2023|Daily Advice Tips, In the News|0 Comments

I have a small business and I hate hiring millennials. They want to work as little as possible, they have useless credentials, and they are too idealistic. Do you agree?

No, I don’t agree! I have heard these comments more often than I would like to admit from readers and I got to say people – wake up! Millennials are the generation that those of us in our 50’s and 60’s should have been. When we got jobs in the 70’s and 80’s we were told by our parents to be grateful for the work, to put your head down, work hard and stick with it no matter what. If we were bullied or made to suffer in our careers, we had to “suck it up” and just stay quiet. Every self-help book out there at the time encouraged people to work harder, push through your fears and told us only the strong “take charge types” were worthy of success. After all, most of our parents and/or grandparents went through the war and would say that we were lucky [...]

By |2023-04-15T11:54:36-04:0015 April 2023|Daily Advice Tips, In the News|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, 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 – 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

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

Are You a Fan of Hustle Culture? 

Hustle culture is something my demographic, (ages 45 to 55) and our parents have been used to all our lives.  Living by the motto that you can’t be successful unless you “work really hard, show up every day ready to overcome any obstacle, with a no-limits attitude, and of course, programmed for greatness.”  We quickly passed judgment on anyone who didn’t seem to be working hard, and everything in our lives had to become second to our all-mighty career.  Sound familiar?    There are tonnes of books out there pushing the hustle culture.  Suggesting you should create your own “vision board;” telling you to not limit yourself, and this one I love: “never settle for less than what you truly deserve.”  While I agree that we all should be passionate about what we are doing in life, and yes, you should try to always better your situation; I no [...]

By |2022-11-03T15:13:23-04:0027 October 2022|Daily Advice Tips, In the News|0 Comments

Talk to Christine Ibbotson to Discover How You Can Achieve Your Financial Goals

We all have different financial goals and different routes and timescales for getting there. For example, you might want to get out of debt for good and stop having to meet expensive interest payments. You may want to consolidate your debt or find a more structured debt repayment plan to free yourself from serious debts for good and start again. You might want to see a financial adviser to help you save for your first house or put aside savings to fund your kids' college tuition when they grow up. It might be time to start saving for your retirement - it's never too early! - or you might be interested in looking at tax-efficient investments that will allow you to maximize your asset growth or income in a tax-efficient way. Perhaps you are hoping to get better control over your budget and create a plan that will help [...]

By |2022-11-14T18:32:46-05:0022 April 2021|In the News|0 Comments

Improve Your Overall Financial Security with Your Financial Advisor

We all want to enjoy better financial security for ourselves and our families. After all, a lack of financial security often means that we are constantly worried about how we are going to pay the next bill that comes up or how we are going to cover any unexpected costs. This is one of the reasons that so many people choose to use the services of a personal financial advisor. Financial stress leads to mental health challenges such as anxiety and stress. Financial worries or insecurity mean that you can never fully relax or make spontaneous decisions about how to live your life. You may also find that you are constantly struggling to get out of debt or meet escalating payments - working ever longer hours yet never getting any further ahead. When you work with a personal financial advisor to enjoy financial security, you enjoy benefits such as: [...]

By |2022-11-14T18:41:17-05:0015 April 2021|In the News|0 Comments

Track Your Financial Goals with the Best Finance Coach in Canada

Behind every successful person, there is usually a coach of some kind, whether it's in the field of sport, business or finance. In fact, it's puzzling that many people haven't yet considered using the services of a financial advisor or coach, especially given how hard we work to earn our money and want to make the most of it! What a finance coach does? As with any good coach, your financial mentor will be there to provide practical and straightforward advice about finance and the ways in which you manage your money. The important thing to understand, is that this bespoke advice will be tailored to your individual needs and objectives. For example, you may be struggling with debt, so your finance coach would help you create a strategy that allows you to organize your finances and escape debt permanently. You could be wondering how you could ever afford [...]

By |2021-03-22T10:00:59-04:0022 March 2021|In the News|0 Comments
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