Radio Show: It’s Your Money Part II

on air

On CISL 650 AM: It’s Your Money

This coming Sunday morning on July 3rd from 9AM to 11AM PST, I will be on CISL 650 AM radio show, It’s Your Moneyhosted by certified financial planner, Fred Snyder. I was a guest on this show previously on June 19th and I’m so fortunate to be invited back as a guest again this long weekend. We’ll be discussing various topics related to investing and financial planning.

If you can’t listen to the show live at that time, you could always listen to the podcast once it’s up on the CISL 650 website. I really look forward to being a guest on this show again. Be sure to tune in! 

Radio Show: It’s Your Money

on air

What are you doing this Sunday morning? On June 19th from 9AM to 11AM PST, I will be on CISL 650 AM radio on this incredible show hosted and run by certified financial planner Fred Snyder, called It’s Your Money.

Fred Snyder is a huge advocate of financial literacy. Every Sunday, Fred educates his audience on the importance of setting goals and having a financial plan that supports these goals. He takes calls from listeners and offers advice with the input of his guests. If you can’t listen to the show live at that time, you could always listen to the podcast once it’s on the CISL 650 website. 

I am so grateful that I get to participate in this important conversation. I look forward to being a guest on this show!  

Investor’s Digest of Canada: Investing 101

Investors digest

Thank you Investor’s Digest of Canada!

Loonie to Toonie – Financial Basics for Canadians is the featured book of the Investing 101 section of Investor’s Digest of Canada! Purchase the May 27 issue to check out the full-page spread that includes excerpts of my book! 

Congratulations to the Winners of My Book Giveaway

Goodreads jpg

Thank you to everyone who signed up for the Goodreads Book Giveaway Contest for Loonie to Toonie! I am grateful for everyone’s interest. Please sign up to follow my weekly newsletters so that you may get updates on my latest ideas on money and investing, as well as hear about any new giveaways in the future. Thank you for your interest and support!

The Trend: To Spend and Lend

This week I had the honour of meeting my MP, Kim Rudd. She is a fascinating woman; you could write an entire book about her inspiring tenacity alone. She’s a true community leader, a successful entrepreneur, and a genuine, cool lady. She had been told about my book, Loonie to Toonie, and wanted me to meet with her in person to talk about it.

While in that meeting, I received some great tips on how to promote the book. I also got to participate in an open discussion of the challenges many Canadians face from not having their finances under control. This is a big problem that stretches across all the generations. The main question that came up was: Why don’t we all know more about money? There were many answers to that question. The solutions are simple, but not easy. My book is my own way of seeking an answer to that question, but it’s only one solution. I have no control over what people take away from my book. I can only hope to empower people with knowledge. But is that enough to transform a culture from spending to investing?

Imagine going to the mall and there was a store that sold all sorts of investments. Whatever you bought, you left the store with more money. How popular would that store be? I think we would all go to that store first before spending our money anywhere else. We would know all the features to investments like we would for the latest smartphone or pair of Jimmy Choo shoes.

The reality is, investing doesn’t offer the same instant feedback we get when we actually purchase an item. There’s a wait time for the payoff which sometimes take years. This means that we don’t have many chances to make corrections if an investment doesn’t work out. In general, the longer we have to wait for something, the more antsy and uncertain we feel about it. Then add to the length of time the element of risk, which is the uncertainty of the investment’s outcome. If an investment doesn’t work out like you expected it to, you can’t refund it or get all your money back. Thankfully investing doesn’t have to look like a scary game of risk, thanks to the strategy of diversification, which is having different financial assets of various risk levels. Similar to having a closet of clothes for different occasions, your savings should be comprised of different kinds of investments for various stages and goals of your life. 

So how do we enhance our relationship with money? Divide your pay cheque up like this: bills, food, future goals, then the rest for fun. This way, you take care of your basic necessities now, your needs for the future, and you can still enjoy some instant gratification for your hard-earned money.

If you haven’t done so yet, go to your bank and just ask to speak with a financial advisor about what you can do about your future goals. Advisors are always friendly, helpful, informative, and they’re there to make the processes easy for you. Whenever I go to the bank, I look for reasons to chat with the advisors. Sometimes I’ll ask a question and suddenly there’s a bunch of us standing around the reception area chatting and sharing ideas. They always tell me of the different options available and they give me new things to consider. I recognize that I’m not shy to talk about financial stuff, but that comes with being empowered with knowledge, even if it’s just some knowledge. No matter how much or how little you know, these advisors are always there to help.

This week, the global markets finished in neutral / positive territory, still above the losses that began in January. On Wednesday, the “Feds” (the FOMC – Federal Open Market Committee – of the U.S. Federal Reserve who make decisions that affect their economy and markets) announced that they don’t expect to be increasing their interest rates as they previously thought they would. Lower lending rates encourage borrowing and spending to stimulate the economy. This makes the stock market go up because people anticipate further growth in business. This reaction could be temporary. If the oil sector’s recent rebound is short-lived, another plunge in oil could still take us all down. I’m not saying this will happen, it’s just something to keep in mind. All the major global economies are doing many things to boost and stimulate their economies–this could also mean these economies are on the weak side and need to experience actual growth. 

Does my cautious sentiment mean not to invest? No. Whether the stock market is strong, the economy is weakening, or if we’re in a recession, there are always investment opportunities. This is why I try to be aware of my other options so that I can strike when the time is right. At the moment, I’m still waiting for a chance to get into the metals (see last week’s write-up on precious metals). I’m also thinking of getting a bond fund that’ll pay me interest for the very, very long term.