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  • Tips for Resolving Financial Fights with Your Partner

    Tips for Resolving Financial Fights with Your Partner

    The adage that “opposites attract” can lead to some serious problems when married partners disagree on the fundamentals of how to manage their household finances and investments. Maybe you grew up in a frugal household where thriftiness and the value of saving money were emphasized. Meanwhile, your partner was raised by big-spending parents who racked up lots of debt. The result? A fundamental mismatch in values about the role of money. While money may represent safety…
  • Why Vulnerability Planning is Critical to Proper Estate Planning

    Why Vulnerability Planning is Critical to Proper Estate Planning

    If you are someone who considers yourself responsible and prepared when it comes to your finances, you have likely worked with a financial planner, lawyer, accountant or other financial professionals in an effort to properly manage your assets and financial legacy. However, even the most careful planners can’t prepare for something if they aren’t aware of its importance. Whether for yourself or for aging parents if you have not received guidance on vulnerability planning, you are…
  • Why You Need An Annual Financial Physical Exam

    Why You Need An Annual Financial Physical Exam

    Whether you are single, engaged to be married, or celebrating your 25th wedding anniversary, you need to have a detailed financial plan in place to achieve your long-term goals. But establishing a financial plan is not a “set it and forget it endeavor.” Just as you should get an annual physical examination to ensure your physical well-being, you and your partner should revisit your financial plan annually to ensure your financial well-being. A financial plan is…
  • Managing the Risk of Your Spouse Managing the Family Finances

    Managing the Risk of Your Spouse Managing the Family Finances

    Compared to women who came of age in the 1950s or earlier, young women today have significantly more financial freedom. Women are graduating from university  at higher rates than men are. They are also assuming more leadership roles in the workplace. While there is still more progress to be made in terms of pay equity and sexual harassment within the workplace, women today have more control over their financial futures than previous generations ever did. Despite…
  • Cognitive Decline: At What Point Should Financial Affairs be Turned Over to Someone Else?

    Cognitive Decline: At What Point Should Financial Affairs be Turned Over to Someone Else?

    Any financial planner will tell you, cognitive decline can become a serious issue for their older clients. Sometimes it happens gradually over time, and for some people, dementia symptoms can hit suddenly and much earlier than expected. The fact is, most of us who are fortunate enough to grow older will experience some level of cognitive decline in our lifetime. Not only can this affect our health, wellbeing, and safety, it can also have an impact…
  • Think Your Estate Plan is Done? Think Again

    Think Your Estate Plan is Done? Think Again

    You may have retained an estate attorney to help you draft documents to provide for your family and distribute your assets. In an effort to get your affairs in order, you might have a will, trust, and power of attorney reviewed, signed, and filed away. If so, you’ve done more than many people and you’re on the right track. But there is far more to estate planning than preparing the standard documents and checking it off…
  • Reconciling Different Viewpoints on Money

    Reconciling Different Viewpoints on Money

    Is it possible to marry your “soul mate” but still find yourself clashing over finances and investments? The short answer is yes. In fact, disagreements over money are one of the leading causes of divorce. Because spending and saving habits are such an integral part of every couple’s daily and long-term interactions, there are many potential areas of disagreement, including: Different spending habits. Some people were raised to save as much as possible, while others may…
  • Money and Marriage: What You Need to Plan Together Even if Your Finances are Managed Separately

    Money and Marriage: What You Need to Plan Together Even if Your Finances are Managed Separately

    Traditionally, many married couples combined finances and managed their money and other assets jointly. Today, some couples do that, but it is not uncommon for married or partnered couples to manage some or all of their finances separately. They may split payments down the middle, decide who pays which bills, or contribute to a joint household account while maintaining their own individual spending and savings accounts. They may even have their own separate financial advisors. But…
  • How Men and Women Differ in Their Approach to Investing

    How Men and Women Differ in Their Approach to Investing

    There is a common misconception that men are savvier investors than women. Much of this stems from societal conditioning, as many people grew up in homes where the man of the house managed the money. However, as more and more women are putting themselves in the financial driver’s seat of their lives — either by choice or by chance — this sentiment continues, even among women who are saving and investing successfully. The belief that men…
  • Study shows 61% of women don’t know where to start regarding finances

    Study shows 61% of women don’t know where to start regarding finances

    A 2018 study by financial firm UBS reveals that while a large majority of women will at some point be solely responsible for managing their own finances, 61% of them report not knowing where to begin when it comes to investing. The better the job you can do articulating those relationships, interests and goals that matter most to you, the more confidence you can have in selecting the right type of investments and portfolio approaches. The…
  • Arguments aren’t about disagreement – they are about safety

    Arguments aren’t about disagreement – they are about safety

    Money is one of the most frequent topics married couples argue about. And disagreement over the substance of financial decisions is not usually the source of the argument. Is that surprising? Mutual respect is critical because as soon as people perceive disrespect in a conversation, the interaction is no longer about the content – it becomes all about maintaining dignity. Arguments happen when negative emotion gets involved. Otherwise, it’s just a discussion. Which is where most…
  • Save time on routine financial activities so you can work together on long term planning

    Save time on routine financial activities so you can work together on long term planning

    To effectively PlanSingle you and your partner will need time to review your financial situation and work on long-term strategy. But juggling many of the short-term activities is what keeps many couples from finding the time for planning conversations.  It also leads to dividing the responsibilities where one partner handles long-term and investment decisions and the other, usually the woman, handles the day to day. In a recent study by the financial institution UBS, a majority…
  • The financial tragedy of Rhonda Shousterman

    The financial tragedy of Rhonda Shousterman

    “My world and my life as I knew it ended that afternoon” read Rhonda Shousterman from her victim impact statement this week[1], referring to June 22, 2018 when York Regional Police told her that her husband had been living with a coworker after a staged wedding more than two years before. “In addition to the emotional the trail, James impoverished to me… He not only lied and cheated but he dissipated our assets to make a…
  • The voice of experience: take more control and avoid regrets

    The voice of experience: take more control and avoid regrets

    Make the time and take control. That’s the advice of 98% of widows and divorced women from a recent survey of 1,700 couples from financial firm UBS. The report, Own Your Worth, explores the myths and realities of women and money. In one clear message is those who did not have a role in managing the family finances regret not having been more involved. Eight in 10 women will end up alone and, therefore, in charge…
  • Should you keep the house in a divorce?

    Should you keep the house in a divorce?

    After a divorce, your home may be a sanctuary or a ball and chain. If you start down the difficult path of divorce, many of the decisions involve how to divide the assets. And one of the more difficult and significant assets in many marriages is the house. Too often we see one spouse (frequently the woman) insist on keeping the marital home and suffering financially as a result. Holding on to the house is a…
  • How to find an advisor who values you equally

    How to find an advisor who values you equally

    You deserve to have an advisor who values you individually whether you are single or part of a couple. Many couples divide and conquer. He takes the daughter to soccer practice and she takes the  son to music lessons. He vacuums, she does the laundry. She does the grocery shopping, he handles the finances. And that’s fine. In some cases, the only way a couple has any hope of staying current with what needs to get…
  • The importance of putting off big decisions after you have been widowed

    The importance of putting off big decisions after you have been widowed

    Fighting your own instincts, and possibly the advice of some professionals, to make a lot of decisions in the aftermath of losing a spouse may be your best financial decision of all. There are lots of decisions to make in adjusting to single life after losing a spouse. And being widowed is devastating. That combination can lead to some bad outcomes if not handled thoughtfully. Some decisions need to be made now but most are better…
  • 5 Steps to Successfully Handling an Inheritance

    5 Steps to Successfully Handling an Inheritance

    “I never realized mom had this much. I have never seen this much money before much less handled it. I have no idea what to do.” It is not a problem most people anticipate but many advisors hear something like this at least a few times in their careers. Receiving an inheritance can be a beneficial outcome associated with a great personal loss. And it can be the source of significant stress during an already stressful…
  • You Need an Advisor You are Comfortable With

    You Need an Advisor You are Comfortable With

    PlanSingle means having a strategy that works for you whether you remain single, stay married, or find yourself single again. A key component in a successful strategy is having the right advisors. But many women are not happy with one or more of their advisors and many married women find one of their advisory relationships works better for her husband than for her. Widows benefit from finding new advisors more attuned to their needs but this…
  • Model financial partnership for your kids

    Model financial partnership for your kids

    Give your kids a head start and help them take control of their finances earlier. You have taken the PlanSingle philosophy to heart. You’re working hard to make sure that you are in good financial condition and are well informed and will remain that way regardless of what twists and turns life has in store. And you want your kids to have the same security. Show your children how to be a good, active financial partner…
  • A married woman’s guide to risk management

    A married woman’s guide to risk management

    Gerri and Fred had a wonderful marriage and were gradually moving into a retirement they had planned and looked forward to. She had been a writer and editor and he owned a business and was passing the baton to his son-in-law. Fred’s lapses of memory were just a part of getting older. They both had aches and pains they had not had when they were younger, and both chalked up the forgetfulness and occasional missed detail…
  • Trying on the Life Vests

    Trying on the Life Vests

    If you have ever taken a cruise, you probably remember that the first ship-wide activity is to meet on deck for an orientation to lifeboats, personal flotation devices, and what will happen if there is an emergency on board. The cruise line wants to make sure that everyone will be okay no matter what happens. That’s the plan single philosophy. While the plan is that you sail through life happy, healthy and active to 95, Plan…
  • Using Socially Responsible Investing To Align Your Personal Values and Your Financial Goals

    Using Socially Responsible Investing To Align Your Personal Values and Your Financial Goals

    Is it possible to make the world a better place while also saving for your financial future? The answer is yes, thanks to an investment discipline known as Socially Responsible Investing (SRI). Investors who adopt an SRI approach to investing seek to achieve competitive financial returns while also avoiding companies that conflict with their personal values. The term SRI is sometimes used interchangeably with “sustainable investing” and “impact investing.” No matter which term is used, the…
  • Plan Single and the Blended Family

    Plan Single and the Blended Family

    Whether your financial baggage is a carry-on or steamer trunk, you will each now join or reconfigure your investment systems to fit your newly blended life. The vows are the easy part; the merging of his, mine and our money not so much.
  • Overcoming What is Holding You Back From Taking Control of Your Finances

    Overcoming What is Holding You Back From Taking Control of Your Finances

    Back in the days of 1950’s TV shows like Father Knows Best and Leave It to Beaver, women were often relegated to the role homemakers. Men were the primary breadwinners and managed the family finances. In some cases, women were only allowed a small weekly allowance for food shopping and personal expenditures. Today, more women are earning college degrees than men are and as a result, many women earn more than their husbands do. Of course,…
  • Three’s the Charm

    Three’s the Charm

    Diversify. Diversify. Diversify. We’ve all heard that diversifying our investment portfolio is the number one risk management rule, right? A combination of different investments, Canadian, US, International stocks, bonds, GICs, Gold, real estate, even infrastructure, we put them together so that when one area struggles, another part of the portfolio will help offset, or minimize the losses to the overall portfolio.  If diversification is your number one risk management tool managing your investments, why don’t we…
  • Lynn Martin – INTERVIEW with the Authors of Bank On Yourself

    WHY WOMEN NEED TO KNOW MORE ABOUT THEIR MONEY Listen to the interview here: iheartradio
  • Women Have an Investing Edge, But They Don’t Know It

    Women Have an Investing Edge, But They Don’t Know It

    The good—but not well-known—news is that women tend to be better at saving and investing than men are. These findings came to light in a Fidelity Investments study of eight million retirement accounts in the U.S.
  • Grab The Keys To Your Financial Bus

    Grab The Keys To Your Financial Bus

    A recent UBS survey found that 58% of the wealthy women around the world that they surveyed defer to the men in their lives on important financial decisions.  Unfortunately 74% of divorced and widowed women they surveyed reported “discovering negative financial surprises after a divorce or death of their spouse.”[1] In many partnered relationships or marriages, it’s common for one person to act as the couple’s “chief financial officer.” This person often takes care of paying…
  • Why You Need to “Plan Single”

    Why You Need to “Plan Single”

    In most long-term relationships, the partners divvy up the various responsibilities that go along with managing a household. Often, one person takes the lead on food shopping and cooking, while the other may manage the lion’s share of home maintenance and landscaping projects. But when it comes to managing investments, it’s more common for men to take the lead and for women to be left in the dark as to how and where the couples’ assets…
  • Bridging The Confidence Divide

    Bridging The Confidence Divide

    When it comes to managing your investments, confidence can provide the power you need to overcome negative emotions that can hold you back from achieving your goals. Unfortunately, many women experience an “investing confidence gap” when compared to men. According to a study commissioned by Merrill Lynch, women tend to be highly confident about their ability to manage day-to-day financial tasks, such as paying bills (90%) and budgeting (84%). Conversely, among women who do manage their…
  • Coping With a 40% Drop in Income in Widowhood

    Coping With a 40% Drop in Income in Widowhood

    That phrase ‘till death do us part’ slips under the radar when we take our marriage vows. We’re too busy looking lovingly at each other to wonder if ‘happily ever after’ will be as long we hoped. Yet life, even for the young and seemingly invincible, can have other plans. Losing a spouse is sadder, harder and lonelier than we could ever imagine. In fact, it’s considered one of life’s most stressful events, affecting everything, not…
  • ‘Til Death Do Us Plan

    ‘Til Death Do Us Plan

    Mary and Dave Swan were happily married and looking forward to retirement. They had saved diligently and when Dave was offered a package to retire early, they were in great shape to be able to accept. Dave left his company, and he and Mary started enjoying their new life, being more active, spending time with friends and family, and planning an extended trip to experience a different culture. Before they could leave Dave was diagnosed with…
  • Plan Single…. Even if You’re Not

    Plan Single…. Even if You’re Not

    90% of women end up responsible for their own finances later on in life. Whether married or on their own, part of every woman’s financial plan needs a scenario where she plans single. Now, before we go too far, let me be clear.  This is not about planning apart.  Rather, this is about planning for each other.  It’s about caring for your partner’s long term financial well-being in the event you no longer have each other.  …