Jane Bolstad, CFP - Trusted Financial Planning

As mentioned in this article, the industry must step up its game in providing comprehensive financial planning to clients (who are often paying for this service and not getting it).

For those folks who do get a plan, it can be confusing because often what they get is not a true financial plan, but a plan that focuses solely on investments.

https://www.investmentexecutive.com/news/research-and-markets/too-few-canadians-have-or-understand-in-depth-financial-plans-study/?utm_source=newsletter&utm_medium=nl&utm_content=investmentexecutive&utm_campaign=INT-EN-All-afternoon

Too few Canadians have or understand in-depth financial plans: study | Investment Executive Only one-third of those polled felt they knew "a lot" about what a financial plan is

If you invest with the big banks, new reforms designed to
help you could hurt you.

https://www.investmentexecutive.com/newspaper_/comment-insight/action-needed-on-shrinking-bank-shelves/?utm_source=newsletter&utm_medium=nl&utm_content=investmentexecutive&utm_campaign=INT-EN-saturday

Action needed on shrinking bank shelves | Investment Executive Editorial: By narrowing product lineups to proprietary funds alone, the banks are vulnerable to critics who allege their overwhelming market power stifles competition

Joyful Java Community Cafe in Brentwood is ready 👌❤️

https://twitter.com/yousmuzyoulose/status/1379590409081470982?s=19

Good article on RRSPs -not just for beginners...a good refresher too!

https://boomerandecho.com/beginners-guide-rrsps/?utm_source=ActiveCampaignamp

The Beginner's Guide To RRSPs More than 60 years after inception, RRSPs still remain one of the cornerstones of retirement planning for Canadians. Here's a beginner's guide to RRSPs

Two key money habits from Jim Yih at retirehappy.ca 😀

Calculate your Net Worth - https://retirehappy.ca/calculate-your-net-worth/
Track your spending - https://retirehappy.ca/know-your-spending/

Do you know how much you are paying in investment fees? How your advisor gets paid? What you are paying for? This article cites research that says about half of us don't know. Even with new disclosure rules it can still be hard to figure out, but having clarity is vital in determining if you are getting value for those fees.

https://www.investmentexecutive.com/news/research-and-markets/do-investors-understand-their-fees-portfolios/?utm_source=newsletter #038;utm_medium=nl& #038;utm_content=investmentexecutive& #038;utm_campaign=INT-EN-All-afternoonis

Do investors understand their fees, portfolios? | Investment Executive A multi-year research project by CSA offers insight

Rob Carrick consistently offers very sound advice in his column & is very clear about the value of fee-for-service financial planners.

https://www.theglobeandmail.com/investing/markets/inside-the-market/article-my-brother-is-suspicious-of-brokers-and-banks-any-suggestions/

‘My brother is suspicious of brokers and banks – any suggestions?’ There are some good people working in brokerage firms and banks, but these outlets are ultimately sales operations where the point is to have clients buy products and earn fees

Try not to let the “a blizzard of investment options” out there over complicate investing. Adhere to basic principles and keep it simple.
As this author says - " I hope you’ll remember this post next time you’re fretting over whether you should have more or less immediate exposure to U.S. stocks, Canadian bonds, REITs, energy sector stocks … etc., etc., etc."

https://findependencehub.com/choice-overload-decision-fatigue-and-your-investments/?utm_source=FindependenceHub.com+Daily+Digest&utm_campaign=7a7f6716bd-FHUB_RSS_EMAIL_CAMPAIGN&utm_medium=email&utm_term=0_47a7dc54ad-7a7f6716bd-242381085

Choice overload, decision fatigue, and your investments - Financial Independence Hub By Steve Lowrie, CFA Special to the Financial Independence Hub Let’s face it; pandemics can be exhausting. Earlier this year, you may not have loved your daily routines, but at least you were familiar with them; they took little energy to implement. Then, along came the coronavirus. Suddenly, many...

Some good solid advice.

https://www.finpipe.com/steps-to-weather-a-financial-crisis/

Steps to weather a financial crisis - The Financial Pipeline “Don’t get too greedy and don’t get too fearful”: Expert advice on handling a financial crisis and how to bounce back on the other side.

Links in this article to a couple of good budgeting tools.

https://www.theglobeandmail.com/investing/personal-finance/household-finances/article-a-power-tool-for-serious-household-budgeting/

A power tool for serious household budgeting Plus here’s some encouragement to seize the moment and buy low

Some good advice from Carl Richards of
https://behaviorgap.com/ on navigating this uncertainty:

Step 1: Do nothing.

No solutions in this step. Just sit there and feel. Let yourself feel all the feels. Notice them. Name them. Write or talk about them.

Step 2: Find something you can control.

It might just be your breath for now, but whatever it is, return to it over and over, and your sense of control will grow. Small actions over time have a massive impact.

Step 3: Do Something.

Take some micro-action based on what you find in step 2. I have found myself going on walks, organizing digital files, cleaning up photos, and proactively reaching out to friends and family. All of these feel SO much better than endlessly scrolling through Twitter.

Step 4: Repeat. Over and over.

One moment at a time, my friends. Remember, things change. We will get through this.

Finally some good news from the regulators - a ban on deferred sales charges(DSC) coming in 2022.

https://www.investmentexecutive.com/news/from-the-regulators/dsc-ban-coming-in-mid-2022/?utm_source=newsletter&utm_medium=nl&utm_content=investmentexecutive&utm_campaign=INT-EN-All-afternoon&oft_id=31600657&oft_k=2s6G8exT&oft_lk=QSqkP6&oft_d=637178402130500000&fpid=190006&m32_fp_id=WUIYSm&ctx=newsletter&m32_fp_ctx=DI_MASTER_Relational

DSC ban coming in mid-2022 | Investment Executive The OSC proposed a series of curbs on DSC sales that would take effect alongside the ban in the rest of the country

Bottom line - don't get pressured into buying something......do your research.

https://boomerandecho.com/4-big-rip-offs-watch/

4 Big Rip-Offs To Avoid I’ve made my share of bad financial decisions over the years, but nothing feels worse than when a salesperson convinces you to buy something that’s not in your best interest. These kinds of rip-offs usually occur when one party has more or better information than the other. Think about the first...

Borrower and lending practices deepening the burden of debt in Canada - Financial Independence Hub

Ultimately it is up to each of us to manage our debt wisely, but as this article points out, financial institutions should "act in the best interest of their clients and proactively contribute to the financial well being of Canadians."

Read on for some good tips on how to better take care of your financial well being as it relates debt issues.

https://findependencehub.com/borrower-and-lending-practices-deepening-the-burden-of-debt-in-canada/?utm_source=FindependenceHub.com+Daily+Digest&utm_campaign=16930f0a42-FHUB_RSS_EMAIL_CAMPAIGN&utm_medium=email&utm_term=0_47a7dc54ad-16930f0a42-242381085

findependencehub.com

Don’t make this Life Insurance mistake - Financial Independence Hub

Some good basic points about life insurance.....see article.

https://findependencehub.com/dont-make-this-life-insurance-mistake/?utm_source=FindependenceHub.com+Daily+Digest&utm_campaign=23a08c492a-FHUB_RSS_EMAIL_CAMPAIGN&utm_medium=email&utm_term=0_47a7dc54ad-23a08c492a-242381085

findependencehub.com

Forecasting the market is almost impossible — so here’s what investors should do instead

Some excellent advice for your investments - focus on what is within your control.

https://business.financialpost.com/investing/investing-pro/forecasting-the-market-is-almost-impossible-so-heres-what-investors-should-do-instead

business.financialpost.com Tom Bradley: There’s one guaranteed way to produce better investment outcomes — hire yourself as the CEO of your portfolio

The great temptation - Steadyhand Investment Funds

This article is a great reminder from some wise people that you can't predict the market.

https://www.steadyhand.com/personal_investing/2019/11/12/the_great_temptation/

steadyhand.com Late last year, it looked like a good time to get out of the market and sit out what many observers were forecasting would be an ugly 2019. Hasn't exactly worked out well for those who sold—proving once again that you simply can't time the market.

New England Patriots' Rookie Joejuan Williams Saves 90 Percent of His Paychecks: Here's Why

As a Financial Planner I love hearing stories like this! 😀

https://people.com/sports/new-england-patriots-rookie-saves-paychecks/

people.com The New England Patriots player appears to be taking a play out of Rob Gronkowski's playbook

How to pick the right fee-for-service financial planner

More and more people are turning to fee-for-service financial planners like myself to get unbiased answers to their financial questions.

https://www.theglobeandmail.com/investing/markets/inside-the-market/article-how-to-pick-the-right-fee-for-service-financial-planner/

theglobeandmail.com Providing advice without selling products is really catching on, but make sure you properly vet your planner

Declutter the pesky nest egg - Financial Independence Hub

It is not only our houses that could use a decluttering from time to time, but our investments too!

The article below has a good list of signs that help you "spot the clutter".

http://findependencehub.com/declutter-the-pesky-nest-egg/?utm_source=FindependenceHub.com+Daily+Digest&utm_campaign=b3e79a80f0-FHUB_RSS_EMAIL_CAMPAIGN&utm_medium=email&utm_term=0_47a7dc54ad-b3e79a80f0-242381085

findependencehub.com “Decluttering the pesky nest egg ranks high among investors. Now is a great time to snap into action.” Investment clutter can easily develop from a variety of sources. The number of accounts opened, types of risks incurred, type of advice sought and style of adviser hired are just a few starting...

Why Canadians find saving so hard — and how to get better at it ASAP | CBC Life

Some good tips to help you save!

https://www.cbc.ca/life/personalfinance/why-canadians-find-saving-so-hard-and-how-to-get-better-at-it-asap-1.5172868?cmp=newsletter_CBCNewsletter&cmp=newsletter-June.20-eNewsletter

cbc.ca A new study says we’re particularly bad at saving, so we enlisted an expert for help.

Solving the problem of well-intentioned investment advisers who give bad advice

Great advice in John De Goey's book entitled STANDUP to the Financial Services Industry: A Practical Guide for Canadians.

Bottom line - to get better advice you need to ask your adviser tougher questions.

https://www.theglobeandmail.com/investing/markets/inside-the-market/article-solving-the-problem-of-well-intentioned-investment-advisers-who-give/

theglobeandmail.com Rob Carrick’s Q&A with John De Goey, an investment adviser who advocates for investors

Vanguard All Equity ETF (VEQT): my new One-Ticket investing solution - Financial Independence Hub

If you are looking to invest using ETFs, Robo advisers are one way. Another way is the all in one(or asset allocation) ETFs as described in the article below.

http://findependencehub.com/vanguard-all-equity-etf-veqt-my-new-one-ticket-investing-solution/?utm_source=FindependenceHub.com+Daily+Digest&utm_campaign=1dc4f60d91-FHUB_RSS_EMAIL_CAMPAIGN&utm_medium=email&utm_term=0_47a7dc54ad-1dc4f60d91-242381085

findependencehub.com

Stock Market Returns Over Different Time Periods (1872-2018)

Great article to read if you are nervous about being in the stock market and you are a long term investor.

"While it’s true that putting your money on the line is never easy, the historical record of the stock market is virtually irrefutable..."

https://www.visualcapitalist.com/stock-market-returns-time-periods-1872-2018/

visualcapitalist.com In any given year, the stock market can be a crapshoot - but over long periods of time, the U.S. market has consistently performed for investors.

How do insurers calculate your home & auto insurance premiums? - Financial Independence Hub

Some basics on the costs of auto and home insurance.

http://findependencehub.com/how-do-insurers-calculate-your-home-auto-insurance-premiums

findependencehub.com

6 ways to give your portfolio a spring tune up | Tracking your progress | GetSmarterAboutMoney.ca

Give your investment portfolio a spring tune up!

Here are 6 great tips that I recommend you do once a year.

https://www.getsmarteraboutmoney.ca/invest/investing-basics/tracking-your-progress/6-ways-to-give-your-portfolio-a-spring-tune-up/

getsmarteraboutmoney.ca Most people’s spring cleaning to-do list includes the usual items like decluttering the house or cleaning up your garden – but it’s also a great time to check in on your investment portfolio.

Why You Need a Financial Planner

Why you need a financial planner! To sum up the article:

1) Increased Financial Confidence

2) Accountability of Actions

3) Advancing Your Financial Literacy

https://www.rtmosaic.com/strategiesandinsights/why-you-need-a-financial-planner

rtmosaic.com When you start to look for help with your finances, whom do you ask first? Your best friend, parents, or a banker? By asking for a financial planner first, you

Exploding 19 Common RRSP Myths

http://www.thebluntbeancounter.com/2019/02/exploding-19-common-rrsp-myths.html?m=1

thebluntbeancounter.com It’s that time of year again. We have just a few weeks left until the Registered Retirement Savings Plan (RRSP) deadline, and despite its a...

How to Talk About Money

Conversations about money are hard to have but are so important in our relationships - read on for a few tips to get you started.

https://www.nytimes.com/guides/year-of-living-better/how-to-talk-about-money

nytimes.com At some point, you’re going to have to have a conversation about money — with a spouse, a roommate, your kids, your aging parents — but did anyone ever teach you how to talk about money?