Dont Forget to Have Fun While You Make Money

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  • 7/28/2019 Dont Forget to Have Fun While You Make Money

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    16 |Tuesday,July 9,2013 finance

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    Summer vacationAccording to a study releasedby BMO, Canadianstaketime o from worrying

    about their finances duringthe summer

    reviewtheirfinancialplanlessoften duringthe summer17%

    34% of Canadians say they take a mental vacation fromthinking about their finances during the summertime.

    ofinvestorssay theyspend lesstimemonitoring theirinvestments13%

    Men are more likely than women to take amental vacation from their finances

    Men

    Women

    The survey results cited in the BMO Summer Spending Report are from online

    interviews with a random sample of 1,513 Canadians 18 years of age and over, conducted by Pollara betweenMay 23 and May 27,2013. A probability sample of this size would yield results accurate to 2.5%,19 times out of 20.

    Whos most likely to take a finance vacation?Atlantic Canada

    Quebec

    Ontario

    Prairies

    Alberta

    British Columbia

    27%

    45%32%

    25%

    31%

    31%Source:Bankof Montreal

    38%

    31%

    totalling

    $1,599over the

    course of thesummer

    Canadiansexpect to spend

    an average of$123 per week on

    impulsepurchases

    TARACORRAN/QMIAGENCY

    Dontforgettohavefunwhileyoumakemoney

    Irememberworkingri-diculously long hoursat my first job in thefinancial markets andI took myself very se-

    riouslyin thosedays.I wouldarrive at my chair on thetrading desk by 6 a.m. andtoil away, head down witha phone in my ear (some-times both ears) forthe next12 hours.

    Then, onweekends,I would

    study six hours each day. Ionce overheard one of mycolleagues whisper to an-other, Does she ever haveany fun? That commentbaffled me for years howcouldfunandhardworkpos-sibly coexist?

    Fast-forward 20 years anditjustdawned onme thatnoonewould saythataboutmenow. Im not saying I have abarrel of laughs every day,but I have figured out howto allow the various parts ofmypersonalityto live a littlewhileImmakingmoney. Forme, this is about giving my-selfpermission tobe creativeas well as technically profi-cient.I am committedto mywork as a portfoliomanager,butIalsomaketimetowrite,speakand doresearch onthetopicof womenand finance.

    N o t e v e r yo n e t a k e s20 years to discover that

    work canbefun.A journalistI interviewed explainedhowshe learned about moneywhen shewasgrowingup:

    My mother was a singlemom who owned her ownsmall talent agency. It was agreatenvironmentwhereshecould bring herwholeself towork.Iwatchedhowshenur-turedherclientsandhowshealways hadfun atwork.Realfun,notfake fun.Theywouldput a sign out front some-

    timesthatsaidIn a meeting,please call, but all the staffwould actuallybe inthe backroom playingcards!I learnedhow, as an entrepreneur, you

    live andworkwhenand howyouwant toliveand work.A woma n I know work s

    12-hour shifts in her job asa nurse in the cardiac emer-gency room. When I askedher about fun at work shesoundedquite sheepish,thenconfided that the way herteam copes with the intensestress levels is to engage in

    inappropriate banter aboutsome of the bizarre reasonspeopleend up in emergency.Laughter is the best medi-cine? Apparently it is quiteamazing whatsome folksgetupto onthe weekend.

    My own idea of having funat work is enjoying multi-dimensional experiencesin my business day. WhereI once sat and did the samethingalldaylong,Inowtrytomove around both mentallyand physically.

    One of my clients just re-turned from an exhilaratingthree-week trip to Japan, soin keeping with her mindsetwereviewedherinvestmentswhile sipping green tea at apeacefuloutdoorcafe.

    Another client only everhas one question for me:So, Barbara how are wedoing? Helivesin myneigh-bourhood and we walk our

    dogs while discussing worldmarkets. Some of my femaleclients practise yoga, so attimes well meet for a classfollowed by a (more relaxed)businessmeeting. Wehavearulein theinvestment indus-trycalledknow your client.I would argue that we knowour clients very well whenwespendtimewiththemandwe are able to combine boththeir business and personalinterests. The icing on the

    cake is we areindeed havingfunwhilemakingmoney!

    BarbaraStewart, CFA,is with

    CumberlandPrivateWealth

    Management Inc. barbarastewart.ca

    BARBARASTEWARTSpecialto 24hrs

    Theywouldput a signoutfrontsometimesthat said Inameeting,pleasecall, butall thestaffwouldactuallybe

    in theback roomplayingcards!

    Journaliston howshe

    learned aboutmoney whilegrowing up