How I invest my money

When I tell clients I treat their money as if it’s mine, I’m referring to the deep understanding of self, the care, the thought, the planning that goes into successful investing — and the best way of explaining that is by sharing how I invest my own money. 

About a month ago a client sent me an email with a link to a podcast reviewing a new book called “How I invest My Money – Financial Experts reveal how they save, spend and Invest”. The podcast intrigued me and I bought the book. Twenty-five professional advisors bearing their souls.   

So after almost a month of thinking about it, here is my answer

You’re probably wondering why it’s taken me so long. Well, it’s easy to just make a list, but with deep reflection comes deeper meaning. 

Anyone who has gone to my website and viewed the video on the home page has heard my story of how and why I decided that being a financial advisor was going to be my vocation and lifelong passion. The story I shared in that video is a sad one, of how I received poor advice and lost all my money. As it happens, it was my awakening, yet it’s taken all this time for me to understand why. 

In fact, growing up, experiencing loss was a far too familiar occurrence. At a very young age my father died, then my two uncles, all before my 25th birthday. We were a close family, all partners in the family business. I watched and witnessed what it took to pick up the pieces and start over. 

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2020. A horrendous year we won’t soon forget — but let’s also acknowledge and remember what’s been positive

Looking back and reflecting on the year we’ve just turned the page on is not unusual for me, and maybe not for you either. For as long as I can remember, at the start of each new year I routinely replay the previous year’s highs and lows. I always find it to be an interesting, revealing, enlightening and meaningful exercise.

When I think of 2020 what first comes to mind is one word: struggle. 

It has been a real struggle on multiple levels. But upon reflection, to some degree the last eight months are also about endurance, resilience and hope.

Some eight months ago, without warning we suddenly found ourselves being attacked by an unknown virus. One that attacked indiscriminately, viciously, relentlessly and globally. We’d never Read More »

To close out this series, an industry friend and one of my clients take us inside their COVID experiences

So far Shelly Steidman and Josh McIntyre — two members of our Friedman Investment Group Team — and I have all written about what living in this unprecedented time has been like for us. I hope that reading about what we’ve been through, what we’ve learned and what good we hope will come of all this has, in some way, helped you and possibly even provided some inspiration. As always, I’m looking forward to your comments, to hear about how you’re doing.

Today, which concludes this series of blog posts, we’re hearing from a woman I’ve known, admired and respected for years through the investment industry and a client who’s been with me since my early days as an Investment Advisor.

Paulette Filion, a sought after marketer in the financial services industry, has a particular interest and expertise in the women’s market. She is also an author and blogger herself …

As someone who has no children, I’m used to being free to do whatever I want to do, whenever I want to do it and it’s that freedom — to meet up with friends, toast with a Read More »

We share a profession and our work space, but how two of my colleagues and I are being affected by COVID couldn’t be more different

Two days ago I shared an idea for a series of blog posts with you. And then yesterday I wrote about what I’m finding difficult about self-isolation and some of the things I’ve been thinking about. I hope you’ve found them interesting and helpful — even if it’s just taking comfort in the fact that everyone is being impacted in some way.

Today I’m turning “Observations” over to two of my colleagues — Shelly Steidman and Josh McIntyre. Like me, Shelly is working from home, although the challenges she has been forced to face are very different from mine. Josh has been working at the office and is, in effect, a front line worker. Again, his concerns and perspective are vastly different — from both mine and Shelly’s. 

First, Shelly …

For me, the timing of coronavirus couldn’t have been worse. It hasn’t been pleasant or easy for anyone, but I very recently lost my mom. Just ahead of when we found ourselves being asked toRead More »

What’s sheltering at home been like for you? Rather unexpectedly, I’m doing a lot of inward gazing

Yesterday I blogged about an idea my team and I had when we realized how many people, the world over, have taken to sharing their stories of living, struggling, learning and even triumphing in the time of COVID.

In that blog post — which you can link to here — I wrote about how inspired we were by the depth and breadth of what people are sharing and thought it would be an interesting idea to share our own experiences and also invite a couple of members of our extended community —an industry friend, and a client to join us and share their personal experiences — nothing to do with the subject that connects us — which is investing.

Turns out everyone was willing and even eager to share their “war” stories and it’s been Read More »

We may all be isolated from each other, but we’re going through this corona crisis together

It’s a strange feeling. Aside from being with my wife, youngest daughter and our dog 24/7, I’m alone — with just one or two exceptions of visits at a safe distance. My contact is limited to emails, phone conversations, online meetings and some social media.

My team and I have been comparing notes and we all feel that COVID is, in a way, changing the nature of the conversations we’re having. Even though communicating over the phone and through email is far less personal than meeting face-to-face, it feels like we are “connecting” on a much deeper level and we’re getting to know more about each other than ever before.

Feeling scared? Frustrated? Lonely? Unsettled? Confused? It’s good to know we’re not alone

It was interesting to hear that my team members and I are all having conversations that seem to start the same way, with a question: How are you doing, how are you coping, what’s the hardest for you, what are you missing? And we’re discovering that as Read More »

The Virus, the Economy, the Market, the Future — My Perspective

The other day I had an email from a client who wanted to know my thoughts on the market and whether or not there were some good opportunities to buy now. He’s not alone. He asked for my perspective and here it is.

First, though, please keep in mind that this is just my opinion. I am just thinking in terms of probabilities. Much as I wish I had the definitive answer, I don’t. No one does.

In terms of the economy …

I believe most forecasters have now dismissed the possibility of a V-shaped recovery. No Read More »

Hitting the Pause Button to Reflect for a Moment

There’s no denying the seriousness and uncertainty of life as we know it today. We’re concerned, all of us — for ourhealth and that of our loved ones … for our friends, neighbours and colleagues … for our communities, our country, the economy, our investments and, quite frankly, for what lies ahead. We just don’t know. No one does. No one.

But amid the chaos and News and statistics that change from minute to minute we also Read More »

You’re Never Too Wealthy to Want a Good Deal

A billionaire many, many times over, Warren Buffett still lives in Omaha Nebraska, in a home he bought for $31,000 in 1958 and is now estimated to be worth $652,6191. Sam Walton, the Walmart founder, drove the same 1979 Ford F-150 pick-up until he died in the early 90s2.

I’m certainly not in their league, not even close, but I am successful — in both my business and as an investor. And I’m not ashamed to admit that I’m always looking for a deal, for ways to save Read More »

What’s The Phrase Investors Should Have Tattooed on Their Souls, and Why?

The phrase, which has been around in English since about 1545 is, “Rome wasn’t built in a day.” It’s important for investors to take it to heart because essentially it’s a warning against rashness and impatience — which can be, as behavioural economists — and history — keep reminding us, an investor’s worst enemy.

When we react — or over-react — to short-term performance and behave impetuously, we often do it at the expense of our long-term results. On the other hand, those investors who appreciate and capitalize on the Read More »