The weekly television series Money Matters with Jim Doyle was created in an effort to encourage Canadians to explore some of the financial issues we help clients address throughout their increasingly complex lives. Originally a radio show for five years, “Money Matters” was a natural fit for television. Financial literacy rarely seems important, until a time of crisis, when we’re asked to make important decisions affecting our futures, with whatever financial skills we have.
We invite you to tune in Thursdays – 5pm – and Sundays – 7am on Joytv.
Over my 30 years of experience in the financial industry, we’ve been privileged to help people do some amazing things, financially, to live a wonderful life through good planning. I’ve also worked with people who have made a few financial mistakes and need help making the best of their circumstances.
Overconfident? Blissfully unaware? In denial? How do your financial skills stack up? We all perceive money differently. It’s not just an issue for the financially challenged, nor is it an elitist pursuit for the wealthy. Financial literacy impacts almost everyone!
So what IS financial literacy? Is it knowing your way around a calculator, calculating earnings vs expenses over a working lifetime in order to plan for the future? The benefits and downsides of being self-employed versus being an employee? Managing and using credit? Planning for retirement? Having the right insurances to protect you or your family from the unexpected? Is it understanding world and domestic markets and being able to read an annual report? Financial literacy is so much more!
Newly emerging issues challenge us, from the use of payday loans, to rising debt amongst seniors, grey divorce, and longevity. It can be a struggle to consider tomorrow when you’re focused on living for today, where a significant metric for purchasing a home or car could be decided on – can I afford the monthly payment. Just making the interest payments on debt and never paying it off? When did that become acceptable?
So where do our financial skills come from? Are they inherited? Perhaps they’re intrinsic…maybe they’re something we learn from families? Two things are clear – financial literacy needs to be a lifelong pursuit and – Canadians who lack knowledge about finances struggle to make the right decisions to plan for their futures.
Life happens – job loss, divorce, helping out aging parents, or kids – can come with financial and emotional concerns attached, demanding immediate attention – and answers. Emotions and money don’t mix well. Overconfidence can be a killer. It pays to have a professional advisor help you understand financial consequences and possible trade-offs.
Talk about money – no thanks. It’s private, maybe the last taboo. Many of our financial choices are unknowingly interconnected and impact our lives in ways we never intended. Many couples would rather talk about almost anything else. Too many people are uncomfortable with their financial literacy levels, fearing judgement over past decisions, spending choices, a lack of accumulated wealth, or previous financial mistakes. These are powerful feelings, but what does that say about life is for the living?
While no two journeys are the same, I would like to invite you to tune in and build your financial literacy skills…Join me and my guests as we demystify some of the financial issues that touch every aspect of our lives – and help us end financial illiteracy.
Jim Doyle CFP, CLU, CFDA, TEP, CIWM™
[email protected] | doyleandassociatesprivatewealth.com
Investors Group Financial Services Inc.
Member of the Power Financial Corporation Group of Companies
