Allocating your money to various investments is similar to allocating your time to work, family & friends.
You can’t put all your energy (or money) into only one thing. Seek balance.
2.
Once you create wealth, remember to preserve it.
3.
Exercise makes you happier than money. #endorphins
4.
Vacation time is for reconnecting with family and disconnecting from technology.
Health = Wealth
#keepingfamiliesclose #priorities
5.
Retirement planning can be complicated. Portfolios shouldn’t.
6.
7. The environment and the economy are more linked than you think. Companies with strong sustainability practices, often have better stock performance.
8.
The more time you spend checking your portfolio, the less likely they are to stick to your plan.
Good advisors explain financial concepts. Great advisors explain them in terms you can actually understand.
9.
MOM = Made Of Money.
Teenagers often mistake what MOM means.
10.
Teach your kids the value of money AND the value of family. #2separatethings
11.
13.
¾
of widows and divorcees wish they had been more involved in finances. #itsNeverTooLate
12.
How many more paycheques do you have left in your career? Make every one of them count!
14.
A tax refund isn’t a windfall, it’s a sign of poor tax planning.
“Dads teach boys to build wealth. Moms teach girls to save pennies.” This might be 1 reason why women are less prepared financially.
15.
Everyone has a family member that will be affected by long-term care issues. Plan your family discussions now.
16.
Philanthropy is about more than just getting a tax credit. #legacyplanning # giveback
17.
Your level of financial literacy impacts your confidence as an investor. Work at increasing both.
18.
Like a soufflé, stocks rise slowly, but can fall very quickly.
20.
Keep your dividends and your emotions stable. Stay calm when markets don’t. #wiseinvesting
Be thankful if you pay taxes. It means you actually made money this year.
21.
You trim your hair regularly. When was the last time you trimmed your stocks? #rebalancing
22.
Barrier to wealth transfer planning: 60% of families are uncomfortable discussing finances with their kids.
#havethetalk
Would you give up daily luxuries for financial security? Latte or Life Insurance?
#priorities
Sometimes the stock market reminds me of a teenager… with daily mood swings. 25.
Learning to manage money is as important as learning how to swim. Both prevent you from drowning (in water, or in debt).
26.
Shout out to all the daughters caring for aging parents and young children at the same time.
#sandwichgeneration
27.
In baseball, getting to 1st base is better than striking out. Same with investments.
Don’t risk it all trying to hit home runs.
29.
If you plan to live a long life, than make sure you save a lot. Longevity is a real financial risk.
28.
Invest in yourself. You won’t ever regret it because you are your greatest asset!
30.
Financial planning is not rocket science, but it does require some discipline.
31.
My advice on cottage ownership: get advice.
32.
Past money mistakes do not dictate your future worth.
Find 3 hobbies you love: one to make you money; one to keep you in shape; one to be creative.
34. Financial phobia: Being more afraid of running out of money, than of dying.
35.
When DEBT becomes a form of financial cancer, it has to be dealt with aggressively.
I like sunny days, but if it never snows, I don’t get to ski. I also like bull markets, but if they never have a correction, then I can’t buy stocks “on sale”.
37.
One of the best gifts to give is a gift to charity.
#givingisgood
38.
You can’t learn Italian without ever eating spaghetti. So what makes you think you’ll learn finance without discussing money?
39.
Although lottery wins in Canada are tax-free, that does NOT mean buying LottoMax tickets qualifies as having a financial plan!
40.
Not having money can stress you out. But having a lot can also cause anxiety.
41.
Your line of credit is NOT an emergency fund.
Don’t fool yourself.
42.
What’s your relationship with money?
Whatever it is, there is a direct impact to your relationship with your spouse. #thinkaboutit
43.
Rethink retirement.
If you are single, try cohabitating with a friend.
Did you know that families with an advisor end up having 4.3 times more wealth over their lifetime? #advicematters
45.
Don’t be a victim of fraud. A bank will never ask you for your name, password, account number or SIN. Especially not via email or text.
46.
What are KIPPERS, you ask?
Kids in Parents Pockets Eroding Retirement Savings
47.
Try doing a financial cleanse. Similar to a green juice cleanse, you will feel re-energized once you are done.
Money and time are not infinite. Spend them both wisely.
Retirement tip: your house is a lousy ATM. Make sure you have liquid assets, not just fixed assets.
50.
Long-term investors don’t change their process/philosophy in response to elections.
52.
Why own stocks? Because current interest rates are a guarantee to lose money after inflation and taxes.
51.
Diversification is like oxygen. You don’t think you need it until you do.
Senior Wealth Advisor
905.337.5785
natalie.jamison@scotiawealth.com
ABOUT THE AUTHOR
Since 1996, Natalie’s main goal has been to educate clients, simplify their financial situations, and help them enjoy life. She is the founder of Women & Wealth ® - a boutique style service offered exclusively at ScotiaMcLeod. Natalie is also a mother who makes a conscious effort to raise financially literate children. With a degree in Hotel Management from Switzerland, she applies her unique training in hospitality to the world of wealth management. Natalie is fluent in French and English and has been tweeting financial tips since early 2009. For more info about her, visit www.jamison.ca
#StayWealthy @womenandwealth
This compilation is for information purposes only. ® Registered trademark of The Bank of Nova Scotia, used under licence. Scotia Capital Inc. is a member of the Canadian Investor Protection Fund and the Investment Industry Regulatory Organization of Canada. For more information visit scotiawealthmanagement.com.