Blog

Recent Posts

  • Romance Scam

    Romance Scam

     By aiming for the heart, romance scams are hugely profitable for fraudsters. It is believed that only somewhere between 5 and 15% of victims of fraud report it.
  • When Safe isn’t Safe at All

    When Safe isn’t Safe at All

    Safe.   I’ve been thinking about that word a lot lately.  It’s probably one of the most commonly used words these days.   Emails and conversations now end with wishes that you “keep safe”.  Companies no longer advertise their products or services, but rather what they are doing to keep their customers “safe” as they encourage you to come back.  Webster’s Dictionary defines the word safe as being: “Free from harm or risk: unhurt”.   Safe is appealing.   Safe…
  • Debt: Your path to riches, or ruin?

    Debt: Your path to riches, or ruin?

    Used wisely, debt can be a very powerful tool to building wealth.
  • Not Now

    Not Now

    Have you ever felt overwhelmed by too many decisions, ideas, or “to-dos” running through your head?   Life changes like retirement can bring big decisions like moving.   Selling a business may lead to decisions like starting another company, going to work in another capacity, retiring, buying a new home, or relocating.  Other major life changes that require decisions include divorce, widowhood, winning the lottery, an athlete signing a pro contract, or receiving an inheritance.  Even with something…
  • Securing Your Income

    Securing Your Income

    Financially, there are upsides to being single – if you want to spend it, it’s yours to spend. You don’t need to consider someone else’s preferences. If you want to retire in a certain area, you can choose to do so. If a better job opportunity presents itself across the country, you don’t have to consider the impact on someone else’s career. There are also risks. When it’s all on you there is less room for error as there isn’t someone else’s savings or income to fall back on.
  • Ensuring my partner/spouse is taken care of

    Ensuring my partner/spouse is taken care of

    While of course, couples want to plan happy healthy active to at least 95 (and that is how most financial plans are run), the reality is, very rarely do both parties in a relationship live the same length of time.
  • Its not what your portfolio is worth, its whether or not you have what you need

    Its not what your portfolio is worth, its whether or not you have what you need

    Working to improve women’s confidence in their finances is one of the goals of PlanSingle.com.  To that end, any insights on what confidence is and how to improve it gets my attention.  This year’s Special Report, 2020 Investor Research written by Julie Littlechild for the Investments & Wealth Institute, made a very astute insight for advisors about the financial confidence of their clients.  The report states that “Confidence is not only a reflection of what is…
  • In the Absence of Value, Cost Matters

    In the Absence of Value, Cost Matters

    The wild fluctuations in investment markets may have thrown you off balance. The value of your investments has likely changed (in both directions) significantly in the past two months. How do you figure out if the ups and downs in your accounts are in line with what you should expect or if you should make some change? Everyone needs some form of counsel. Some have successful friends or relatives who can be that independent opinion. Others…
  • What’s Your New Normal?

    What’s Your New Normal?

    Well, its starting to happen.  In many places things are slowly starting to reopen, or at least talk about reopening.   A lot has changed in the world around us and it will be interesting to see what in the future becomes normal.   Personally, while there are lot of things I am looking forward to returning to normal, there are a number of things that I hope don’t.   And I am not alone.  I spend my days…
  • Why Women Need an Approach of Their Own – Excerpt from Money Smart Manitoba podcast

    Why Women Need an Approach of Their Own – Excerpt from Money Smart Manitoba podcast

    Your financial plan should work for you even if your circumstances change and everyone, especially women, should have the confidence to act on that plan. That’s our mission. So we have a natural affinity for organizations like Money Smart Manitoba, a place where Manitobans can grow their financial knowledge. Leslie McCormick, the co-author of Bank On Yourself and the driving force behind the Plan Single community, spoke at a book launch event that was captured for…
  • Shock Proofing Your Finances

    Shock Proofing Your Finances

    What are the circumstances that might impact your financial future?  Done right, the financial planning process considers risks given your personal circumstances and risks that are common to everyone.   That said, it is probably fair to say that a global pandemic virtually shutting down the global economy was not one of the circumstances you planned for when you did your financial plan or retirement income plan.  And yet, it happened.    While it is impossible to plan…
  • Am I Okay?

    Am I Okay?

    Was it really just a month or so ago that our world instantly changed?  Transitions in life can be hard when you see them coming, let alone when they come completely out of the blue.  And few, if any, foresaw the real threat to health that COVID-19 was and is.  Now, the very steps that are being taken in an attempt to protect everyone’s health are causing significant financial stress and hardship for millions of people. …
  • Glass Half Full

    Glass Half Full

    Throughout history there have been distinct clear points when life changed.   Empires have fallen, World Wars fought, and now, a near total shut down due to a global pandemic.  Whether COVID has touched you directly or not, our lives have changed.  And while the world will open up again, we can create a new normal.  While the circumstances and the unknown are scary and there are many people who are paralyzed by that fear, I am…
  • This time, it’s different

    This time, it’s different

    We are truly living in a strange new world. Not only have our societal interactions been greatly limited and our daily routines thrown out the window, but two very important elements that are at the heart of our security and well-being are under attack at the same time – our health, and our finances. For some people, your income from work or business may be at risk, or has been greatly affected.   But not only is…
  • Unprecedented Time, Unprecedented Financial Relief

    Unprecedented Time, Unprecedented Financial Relief

    In one way or another, virtually all households have been, or will be, impacted financially as a result of the economic shutdown caused by “The Virus”.  No doubt some people know what the impact is and others are concerned about what the impact may be.  Fortunately, this week has brought more clarity around the supports available for those who need it, whether that is from different levels of government or companies.  We have compiled a list…
  • Silver linings: COVID-19 and your financial partnership

    Silver linings: COVID-19 and your financial partnership

    We are all struggling to adjust to the new realities of dealing with the pandemic. Many families will need to make adjustments including financial ones. Whether or not you have both been actively involved in the family finances, this situation presents an opportunity to work together, keep a handle on where you are financially, and jointly make decisions as you navigate your way. Here are a few ways you can work together through the crisis that…
  • Money Talk with Post-Secondary School Bound Kids

    Money Talk with Post-Secondary School Bound Kids

    Too many people consider money a taboo subject.  The result is generation after generation at risk of repeating the same mistakes, or getting behind because they didn’t have the guidance to get ahead.   Those who have conversations about money with their kids realize that talking about money and teaching them how to make sound financial decisions provides some of the most valuable life lessons.   There is a golden opportunity when kids are in, or bound for,…
  • Keeping Your Sanity in a Volatile Investment World

    Keeping Your Sanity in a Volatile Investment World

    When I first started working as an Advisor in Wealth Management, someone gave me a list of the number one reasons why not to invest each year from 1934 (The Depression) to 1999 (Y2K).  Throughout my career, this list has probably been the single most important piece of paper anyone has ever given me.  It puts things into perspective.  It’s what helps me keep my head when emotions run high when markets fall.  In fact, it…
  • Don’t Be a Generous Enabler

    Don’t Be a Generous Enabler

    It can be hard saying no.  As hard as it is to deny ourselves a want today, it can be even harder to deny someone else who wants or needs our financial help.   Saying no is a hard thing to do.   Unfortunately, saying “no” is often essential to ensuring our financial security. In her article “How to Stop Being the Family ATM and Learn to Say ‘No’” published in USA Today, Liz Wetson defined financial enabling…
  • International Women’s Day, Financial Literacy Book Event

    International Women’s Day, Financial Literacy Book Event

      Let’s come together to share our common experiences, work together, learn from one another and set a course of action. Together we can manage! Those in attendance will receive a free copy of McCormick’s and Harrison’s book, Bank on Yourself: Why every woman should plan financially to be single even if she’s not. Don’t forget to register to reserve your seat.
  • The RRSP Isn’t Your Only Retirement Account

    The RRSP Isn’t Your Only Retirement Account

    It’s that time of year in Canada where we are inundated with advertisements and reminders to make your RRSP (Registered Retirement Savings Plan) contributions.    But is making an RRSP contribution the right thing for you?  While saving for tomorrow is always a good idea, depending on your personal circumstances, saving into your RRSP may not be the best (or only) place to save. In the book Bank on Yourself – Why Every Woman Should Plan Financially…
  • Closing the Gap

    Closing the Gap

    The wage gap costs women – it costs women today and it costs us long term.  It is a major hurdle we need to overcome as we work to achieve a lifetime of financial independence.   While we could sit back and wait for society to catch up, we could also choose to be proactive.  Being proactive means effectively communicating your worth and navigating difficult conversations.   Here are 5 tips to properly prepare and set yourself up…
  • Mind the Gap… It might cost you

    Mind the Gap… It might cost you

    While general financial planning principles apply equally to men and women, the circumstances we face are different. One of those circumstances is the wage gap. Across all education categories, fields and experience levels, women earn less than men. On many levels this hurts. I remember early in my career, very quickly I was given more and more responsibility as the organization I worked for went through a restructuring. When I shared my expectation of a raise…
  • The Elephant in the Room

    The Elephant in the Room

    Let’s face it, if there is one area of life that we simply have no interest in talking about, it’s the end of life. And while we may not wish to discuss the topic, advancements in modern medicine and its ability to help us live longer, means more issues to consider, decisions to make, and room for serious unintended consequences. The result of burying our heads in the sand about end of life topics can lead…
  • Financial Tragedy Strikes Again

    Financial Tragedy Strikes Again

    Letters to the Personal Finance Editor are often great opportunities for us to learn from the mistakes of others.  Unfortunately, too often these letters aren’t just mistakes, but tragedies.   This week a letter to the editor at Market Watch caught my attention. Its title: ‘What did he do with all the money? My dying husband cashed his $700k life insurance and emptied his bank accounts.  My adult children and I are devastated.  We have literally lost…
  • Avoiding the Retirement Downsize Mistake

    Avoiding the Retirement Downsize Mistake

    Let’s face it.  Real estate mistakes are expensive.  5% (or so) real estate commissions, land transfer taxes, lawyers, movers, new décor, let alone the cost of renovations you may do to make it your own.  Regretting your move and having to move again in a short period of time isn’t just a lot of work, effort and upheaval, it can be a financial disaster.  If you are contemplating a change of real estate, especially for retirement,…
  • Breaking Money Silence Podcast: Are men more financially literate than women?

    Are men more financially literate than women? Whether you are a single woman, in a committed relationship, or an advisor that works with couples, you need to listen to this episode. Hear an interview with the co-author of the book, Why Every Women Should Plan Financially to be Single, Even if She is Not, Leslie McCormick. Tune in and learn what action steps you can take to be more involved in your finances, and the call…
  • Don’t Give in to the Devil’s Biggest Lie

    Don’t Give in to the Devil’s Biggest Lie

    Have you ever regretted a financial decision that was the direct result of pressure?     The pressure sale is truly an art and for generations has proven to be highly effective… for the salesperson.  But for the consumer trying to avoid financial regrets, remember my mother-in-law’s wise quote: “The Devil’s biggest lie is that this is your last chance”. Think about it, how many times have you seen a “last call” type sale where you can get…
  • Don’t Sabotage Yourself

    Don’t Sabotage Yourself

    Sometimes we truly are our own worst enemy.  Have you ever made a mistake?  One that you kick yourself about, it keeps you up at night and quite frankly, makes you scared of making another mistake?  What about a financial mistake?   Perhaps you took on too much debt or made a really bad investment.   It is far too easy to beat ourselves up about what we may have done wrong, but it can be really really…
  • Part 3 New Year’s Resolutions: Choose Your First Step

    Part 3 New Year’s Resolutions: Choose Your First Step

    Over the past couple of weeks we have been working to help you make, and keep, an effective financial New Year’s Resolution for 2020.
  • Part 2 New Year’s Resolutions: Choose an area of focus to avoid getting overwhelmed

    Part 2 New Year’s Resolutions: Choose an area of focus to avoid getting overwhelmed

    Last week’s blog talked about having a vision for your future and how linking your New Year’s Resolution to taking a step to turning that vision into your reality will significantly improve the likelihood of you successfully keeping your resolution this year.   For many people, this step will involve reformed spending, paying down debt or saving more.   All of these actions are good, and any one of them will contribute to the improvement of your financial…
  • A New Year’s Resolution That Sticks

    A New Year’s Resolution That Sticks

    In the busyness of our lives, and most definitely the holiday season, it can be hard to actually stop and think of anything beyond the full calendars, the shopping and wrapping that needs to be done and the meals to prepare. But soon after comes New Years, and for many people with the New Year comes a New Year’s resolution. Many people will make their resolution a financial one, perhaps spending less, paying down debt, or…
  • I was a victim of cyberfraud – here’s what saved me

    I was a victim of cyberfraud – here’s what saved me

    There I was, before anyone else was up, sitting on the balcony overlooking the water, enjoying my morning coffee, checking emails and following the news as is my normal routine on vacation.   Just about to put the phone down, I checked the email one last time… and am I ever glad I did. There in my inbox was a notification that something had been changed with my online banking and the encouragement to call in the…
  • Don’t be blind-sided by support payments going away

    Don’t be blind-sided by support payments going away

    Your divorce settlement is finalized, you know what your support payments are, you’ve settled into your living arrangements and set your budget, time goes by and suddenly you receive notice that your former spouse intends to renegotiate support payments.   Failure to recognize that support payments don’t typically go on forever and not doing anything to prepare for the day they may change or go away, can leave you in a precarious financial position. To protect yourself…
  • The Biggest Expense In Most Canadian’s Lifetime

    The Biggest Expense In Most Canadian’s Lifetime

    The biggest expense in most Canadian’s lifetime is their tax bill.  In fact, it can exceed the combined costs of your mortgage, children’s education, travel and cars.  As a result, it is incredibly important to manage your tax bill, not just today, but also with a view of your taxes tomorrow. You see, when couples retire, they are far better able to manage their tax bill than during their working years.  It is a very important…
  • The Most Important Portfolio Metric You Should Be Watching

    The Most Important Portfolio Metric You Should Be Watching

    If you have anxiety about the performance of your investment portfolio, you are not alone. Many people wonder if they are making the most of their investments, but there is a good chance you’re in the dark about how to know if your portfolio is performing as it should. There are a lot of metrics and moving parts; and depending on who you’re talking to, you might be getting conflicting messages or advice. When your neighbor…
  • Couples Therapy: Tips For Co-Mingling Your Finances

    Couples Therapy: Tips For Co-Mingling Your Finances

    While managing everything jointly works for some, unity may not always be the right arrangement.
  • 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.  …