There is a type of magic that happens to each of us when we’re “in the zone.” This creative feeling comes instructively to everyone when you give yourself over to the things you love. Everyone should take time for this if they want to reach their full potential. When I was younger, I always wanted...
8 search results for: Christine Ibbotson
Dear Money Lady: I am 57 and I want to start a small business and give up my 9- 5-day job.Do you think I am too old? — Liz
Dear Liz, I think you are the perfect age for a career change! “It’s never too late to be what you might have been.” — George Eliot Liz, there are many examples of successful entrepreneurs in their 50s, myself included. Many 50+ small business owners have traded in retirement for entrepreneurship built on great ideas...
Dear Money Lady: I can’t believe the high price of groceries nowadays. Any advice? — Grace
Dear Grace, you are so right — the cost of groceries has gone up 12.4 percent, according to Stats Canada from January 2022. And with the continued trend that we are to experience a “mild recession” this year, we can expect the costs to rise a little more. Let’s go through five quick tips that...
Dear Money Lady Readers:
Are you planning to retire this year? If so, you need to make sure you don’t do what 80 percent of Canadians do once they do their “hard-stop” to working. One thing is common amongst almost all new retirees is they all underestimate the amount of funds needed in retirement and all have a profound...
Dear Money Lady Readers,
Many of you have sent me emails with genuine worry about your retirement portfolios as we ride the waves of high inflation, lending rates, and low stock market returns. I want to introduce you to an alternative to securities, mutual funds or exchange traded funds (ETFs). Why not consider diversifying your portfolio in part with...
Have they said you’re too old to start a business? Here are five business ideas to do over 60.
There are many people over 60 wanting to retire from their conventional jobs and finally work for themselves. There are even those that may be older and now retired who want to return to work but require a flexible schedule. So, why shouldn’t you consider working in retirement? Today, we look at five options that...
Dear Money Lady: I am single and in retirement and everything I read out there is for couples. Do you have any advice for the senior singles? Personally, I think we hav e it a lot harder. – Jim
Dear Jim, I would totally agree. It is much harder for a single senior in Canada. You have fewer tax advantages with the same expenses, usually on a much lower income. Today, we see most people retire as a couple, however of those now in retirement (2021 survey) approximately one-third are widowed. The median income...
Dear Money Lady Readers: Inflation is up to a 30-year high. So, is your lifestyle inflation up too?
Canada’s current inflation rate is 6.9 per cent, which is mainly due to our pent-up demand for consumer goods and the current global supply chain disruptions; but what about your personal lifestyle inflation rate? Could we have let that get out of control too? Lifestyle inflation is a term used when people of all ages...