I met with Warren Blatt, one of my financial planners and we started to talk about the financial crisis and how it woke people up to asking better questions and making better choices. In Canada people were hit however miniscule compared to the US and other European countries. Our debt in Canada is only 3% versus 66.2% in the US, Japan 121.7%, Greece 104.3%, and Italy 116%. This does not mean that we can allow our debt to equity ratio (how much debt we have: mortgage, loans, etc. versus what we own – equity) to climb. While interest rates and mortgage rates remain low in Canada, small changes can impact us – means we have to pay out more money to cover the loans and less money in our pocket to spend on the necessities for our families.

Saying that now is a good time to think about where you are putting your money. Women in Canada represent 50% of the economic power. Now is the time to assess, do I like the person/people I am working with? Do they listen to my questions and answer them to my full understanding? Are they accessible and can I reach them in a timely manner? What are my fees that I am paying them? Are they being up front about my investment and the yearly fees I pay? I have already told you that I refuse to invest in mutual funds for I feel that the 2.5% yearly management fee that is being charged for these funds is not warranted to their return (how much I earn on this investment) compared to other options which yield higher returns and have less fees.

It is about new beginnings and taking back your power and responsibility. Do not be swayed and make sure that you invest in things that YOU FEEL comfortable with.

Canada is in a good financial position compared to the rest of the world.

I just read a disturbing article that talked about how in the US there is a growing income inequality which can destabilize the US. From 1980 t0 2005 more than 80% of wealth went to the top 1% . Productivity increased by 20% yet virtually none of the increase translated into wage growth at middle and lower incomes. According to this article and a source, “according to the CIA income distribution in the US is more unequal than in Guyana, Nicaragua and Venezuela and is roughly on par with Uruguay, Argentina and Ecaudor.”

Even Alan Greenspan has noted this issue which seems to have been pushed down in America. He says, “This is not the type of thing which a democratic society can really accept without addressing”.

For my counterparts in the US you have an election coming up – you need to bring this to light. You want to bring your country to a better financial position.

In the meantime, take a look at your finances and make decisions that allow you to get yourself out of debt, if you are in debt, and see how you can begin to rebuild your future! It’s all about baby steps.

All my best,


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