Barbara, 53

Barbara grew up in Canada and remembers learning about taxes in school. But for her English daughter there’s no such support, so Barbara tries to impart her knowledge as best she can. She says our weekly blog helps! Subscribe

My relationship with money: "Cautious"

"I’m very cautious about scams and being ripped off. I would never invest in something that I’m not sure about. I have some money in a robo adviser and some peer-to-peer stuff, so as long as I understand the risks and the solidity of the company I’m okay with it."

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What makes a good financial advisor

Listen up, finance industry...

My biggest money question...

"Right now I manage my own investments, but when I get older and lose it mentally I don’t know what will happen. So how can I plan for that? What should I be doing?"



Answer by Tina Weeks, Serenity Financial Planning

It is great that you are managing your own investments. You might never lose it mentally but just in case I would recommend you put a Lasting Power of Attorney in place so that someone you trust can manage your investments on your behalf when you are no longer able to do so. I would suggest that you leave instructions (while you are still able) explaining to your Attorney how you would like your investments managed.

You might consider at some point, investing in a fund of funds whose make up is that of a diversified portfolio. There are lots of these available. This would mean that your investments don’t really need much management.


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