I recently had lunch with a friend and we brought up money and investing. She explained that she was scared to lose money through investing and she didn’t have the knowledge to invest. Does this sound like you?
She had savings in her TFSA and RRSP but none of the money was invested. There was money sitting in her accounts, earning a tiny bit of interest (probably 1-2%)
Yes, investing is scary, intimidating and unknown to many of us but there are many options to minimize risk. Let me explain…
Gord is an Insurance/Financial Advisor. We met over Twitter when I was launching Ambitious Adulting and he graciously agreed to share some of his tips to other Ambitious Adults.
After I bought my house and started blogging in May 2016, many of my friends were coming to me for advice on how to invest and save. They saw that I bought a house, backpacked around the world a few times, and graduated university debt-free. Truthfully, I am still learning every day. I also know that Financial Well-being is personal and depends on individual lifestyles (earning, saving and spending).
In May 2016, I bought my first house.
- 24 years old
- Recently single
- Shopping in one of Canada’s hottest housing markets (Hamilton, ON)
- Unaware of so much information
Growing up, my dad and I didn’t have a lot in common. I am his only daughter of his 4 children.
As I grew older and started working, he sat me down a few times a year and taught me about saving. He opened my savings accounts, made me go to bank meetings with him and checked in with me about finances.
I assumed everyone’s parents talked to them about finances. Boy, was I wrong.