The wealth gap

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   By Guest Blogger Tatiana Enhorning
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Women are great investors, that’s a fact. As shown in a recent Fidelity survey of over of five million US investors throughout the last ten years, on average females outperformed males. Women are educating themselves more about financial planning and investing and taking decisive action to reach their financial goals. This along with their propensity to stick to their investment decisions and be less likely than men to day-trade or invest in speculative assets like cryptocurrency, leads to very positive momentum for women.

But, even though female investors tend to do better performance-wise, they still invest much less than men. According to S&P Global, while over 77% of Canadians have investments, only 21% are women and 79% are men. Hence the gender pay gap’s more terrifying and its lesser known sister, the wealth gap. On average in North America, the raw gender wealth gap shows the median wealth of females was just 55 cents for every dollar of male wealth – the difference between total assets and debt.

Needless to say, women are concerned. In October 2022, a survey by Ellevest found that women’s financial health is at a five-year low, and women now spend a significant amount of time worrying about their finances. A majority reported worrying about their finances at least once a week, and a whopping 43% actively worry about money at least once a day. Women reported fretting about finances at a higher rate than men on both a weekly and daily basis, and this is not unfounded. Statistically, by retirement men have, on average, triple the total assets of women.

So why is this? Are women just bad at saving?

Actually, saving is not the issue. The same Fidelity study showed women save 9% of their salary compared to men, at 8.9%. But the pay gap persists, women still earn an average of 75% of what men earn across all full-time workers in Canada and 89% for full and part-time workers combined.

Although women and men do face many similar issues when it comes to financial health, such as inflation and current consumer confidence, there are other circumstances applying only to women which bolster the significant pay and wealth gaps. These include women being under-represented in high paying jobs and having less access to retirement benefits; women taking the majority of parental leave which affects promotions; and women providing more financial support to family members than men. Even if all of those factors were not stacked against women, there is also the longevity factor. If we compare a single man and single woman who have built up the exact same amount of wealth by retirement, the women would still be at more risk of running out of money, as women tend to live longer than men.

Don’t mistake this for a rant. It’s a call to action. Concerted effort and time are required to close the pay gap, but we can start working on closing the wealth gap now. Let’s empower the women in our lives to become more knowledgeable and involved in investing to better prepare for their life goals and for retirement.

Add Exposure: It seems much more common for men than for women to chat openly with friends or family about the stock market or economy. This may seem trivial, but lack of exposure could very well be where lack of investing confidence begins for women. If from an early age, men are exposed to conversations regarding other people’s investing experiences, they are gradually learning and getting used to it all through osmosis. Let’s bring the women and girls we know into the fold to start building their interest and awareness.

Get started: I often hear women say they want to invest, and know they should, but don’t know where to start. Encouraging women to place even $500 into an index fund when they are young can boost confidence just by getting their feet wet and watching the ups and downs of the market while stakes are low. If we can embolden women to start small sooner and learn along the way, this can make a big difference. The cost of waiting to start investing is enormous. The longer we wait, the more daunting it becomes, not to mention the lost years of compounding. If one person starts at age 20, investing $5,000 per year in an ETF earning 6%, they will have $871,667 by age 60. If all else is equal but they wait to start until age 30, they will end up with about half at age 60, $447,726.

Gain Confidence: Research from FINRA suggests 71% of men think they have a high level of investment knowledge, compared to just 54% of women. This translates to 49% of men feeling comfortable making investment decisions for themselves, compared to just 34% of women. If we can help women see themselves as savvy investors through exposure and experience, women will likely invest much more.

Closing the wealth gap is much easier said than done, but we must start somewhere and we can start now. Encouraging women to invest more is a very powerful step in the right direction, and who knows, maybe one day it will lead to more than 15% of Financial Advisors being women as well!

Tatiana Enhorning is a Financial Advisor with Turner Investments. She builds and maintains portfolios for clients across Canada, and has been in the business as an asset manager for more than a decade.

 

195 comments ↓

#1 Don Guillermo on 11.30.22 at 1:53 pm

#110 Sail Away on 11.30.22 at 11:47 am
#103 Shawn on 11.30.22 at 11:18 am

Re: 2008-9 US RE

AND Garth and I and others were here on this blog telling you it was a GOLDEN time to buy a U.S. sun-belt house if you were a snowbird or possibly even for investment.

——–

We have several friends who bought in California’s Palm Springs/Palm Desert/La Quinta area around that time. They stay 2-3 months of the year and rent out with a management agency for the balance of the year.

As always- strike when the iron is hot, or… when people are despondent.
**********
We have friends that have 2nd homes in Palm Springs/ Palm Desert and in Phoenix. Beautiful homes but maintaining these properties can cost $30,000 USD/year and upwards. Some spend more than 3 months and have to count days in country so as not to overstay. Our Calgary/ Pheonix friends are just about to retire and have decided to sell. They are looking for a property in Mexico. Depending on where they end up a similar property near the ocean could be 1/3 the capital cost and 1/6 operating costs. Couple that with an easy to acquire Permanente residence you can come and go as often as you want. You can also use professional management management to rent but most we know don’t. It’s fun to pop down in summer occasionally especially when the smoke moves in.

#2 Citizen in Kelowna on 11.30.22 at 2:00 pm

The pay gap b/w men and women has been well researched and distilled to a simple factor: women work less than men. That’s it. This is not a social justice issue, this is a practical outcome you’d expect when applying common sense.

#3 Dolce Vita on 11.30.22 at 2:02 pm

Tatiana Enhorning:

The new 2022 Suffragette.

Fellow Contemporary Suffragette where the female author more concerned about label and jump suit color.

https://eu.usatoday.com/story/life/entertainthis/2016/07/29/hillary-clinton-modern-suffragette-white-historic-dnc-speech/87694618/

Boring without them I say.

#4 CanadianOne on 11.30.22 at 2:03 pm

Speaking of Fidelity they are jumping in the custodial trade of crypto through their upcoming Fidelity Crypto launch.

Institutions making their way into the throes…

#5 Dolce Vita on 11.30.22 at 2:08 pm

#39 Shawn yesterday

On Exports

May 28, 2021 USD-CAD Exchange Rate
1.2074 (0.828 USD)

Nov 30, 2022
1.3550 (0.738 USD)

Period CAD vs. USD devaluation
-12.225%

May 28, 2021 —> Nov. 30, 2022 Outcomes
US Imports cost 12.2% more in Nov 2022 for the same widget we bought from them in May 2021 = Cdn inflation Increases. Canada gets 12.2% less in Nov 2022 for the same widget it exported to the US in May 2021 = Cdn Impoverishment.

SAME EXPORT VOLUME by Canada in May 2021 = LESS CASH received for the same on Nov 2022. $ Exports have gone down.

https://www150.statcan.gc.ca/n1/daily-quotidien/221128/cg-a002-eng.htm

Lose-Lose for Canada.

Higher interest rates offer lenders in an economy a higher return relative to other countries. Therefore, higher interest rates attract foreign capital and cause the exchange rate to rise.

See Prime Rates below as to how this has happened. The answer to your “higher investments by Canadians outside of this country”.

On Prime Rates

BoC needs to increase its rate higher relative to the US Fed thus increasing Prime Rates (what banks charge). Current Prime Rates:

US 7%
Canada 5.95%

[Google Search “what is the us prime rate” and “what is the cdn prime rate” for the incredulous]

As the CB rate increases, so does the bank Prime Rate.

[Google Search “does the prime rate increase as the central bank rate increases?”, again for the incredulous]

Foreign and Domestic investment DIVERTED to the US away from Canada as they receive more interest in the US since May 2021.

BoC rate having LITTLE TO NO EFFECT ON DEMAND. Inflation will persist. One Commenter said a day or so ago that inflation will be “sticky” on the way down. As it stands now, I agree.

THIS WILL NOT END WELL unless BoC raises rates higher relative to the US Fed.

I believe BoC reluctance is due to trying to prop up the Cdn RE GDP Sector and the Lib-NDP Gov. But that’s just me.

———-

PS:

BoC lost $522 Million the past 3 months for the FIRST TIME in its 87-year history * and GUESS who will balance the BoC books? YOU, the Cdn Fed TAXPAYER via the Treasury.

I said it last year and I will say it again:

The BoC Governor and Board need to be changed. Their replacements can do no worse than the economic quagmire they are creating for Cdns (let alone assuring Cdns rates would remain low thus fueling Cdn RE FOMO) **.

* Normally, about a $1 Billion surplus generated for the Cdn Treasury.

** Cdn RE FOMO —> Crash courtesy BoC change of mind on rates.

https://betterdwelling.com/was-the-bank-of-canada-reckless-for-saying-rates-will-be-low-until-2023/

————————-

Personally, total self-interest ME (as Economists recommend you act)

yeah BoC + America

for fattening nearly 1 years worth of US $ dividend hauls by 12.2% in received CAD vs. May 2021 without me having to buy a single share.

What is there not to love about that?

For that XMas gift in advance, mille grazie Tiff + Crew + America 💗</p , baci d'Italia 😘 (you too Garth).

Keep on truckin’. Paleo me loving it. Non-Paleo Johnny, Jane and Bill C-16 Canuck, probably not so much.

—-

PS, PS: You know it will get worse when France loses to Tunisia 1-0 and Waltzing Matilda defeats Denmark 1-0. All that’s missing today is a Polish defeat of Argentina. Tomorrow routing for Croatia to defeat overrated Belgium and for the Love of Canada, beat Morocco.

Then again, Powell speech today did not drop a bomb. Dow happy as am I.

#6 Daniel on 11.30.22 at 2:09 pm

Where to begin….
Are we not tired of this divisive gender stereotyping? And the gender income/wealth gap proponents conveniently neglect a number of other factors in their analyses.
Men are over represented in workplace deaths, injuries, etc. men are over represented in the nations most dangerous jobs. Men are over represented in prison. Men have higher insurance premiums in pretty much every aspect of life. I eat double the calories of my wife, thus men have higher food bills. Men have higher suicide rates, and rarely get to keep children in the case of divorce. But at least men get 4 less years of lifespan….. equal pay for equal work is absolutely a requirement. But stop looking at simple math and screaming about the gender pay gap without a deeper dive.

#7 Dolce Vita on 11.30.22 at 2:17 pm

The gift that keeps on giving … no, not the BoC + America …

FTX

BlockFi files for bankruptcy. Predictable. Relying on FTX cash, no more.

Others in trouble as well, seems like the contagion is spreading.

Joe Blogs gives a good up to date accounting.

“CRYPTO Meltdown Continues as FTX Contagion Spreads & Blockfi Files for Bankruptcy”

https://youtu.be/nD6rn1RtfE0?t=0

He has Chapters so you can view what you are interested in with a click.

And, he has an English accent … so you know, must be authoritative.

#8 Shawn on 11.30.22 at 2:19 pm

Do Women have less access to retirement benefits?

“These include women being under-represented in high paying jobs and having less access to retirement benefits…”

**************************************

True that women are still under-represented in the higher paying jobs but that is changing over time. Women are now over-represented in universities and that will have an impact over time.

I’m not sure about less access to retirement benefits. I would dare say women are quite a bit over-represented in government jobs with pensions.

Nurses, teachers, armies of admin people in every government department, federal and provincial.

Then again women would still be vastly under-represented in fire fighting, police and the armed forces which have very lucrative DB pensions in most cases.

Women would likely be over-represented in banking but I don’t know if the Big 5 still have decent pensions or not. Women would be under-represented in the railroads and regulated utilities that still have good pensions.

Anyhow, any individual women should not waste a lot of time worrying about this unfairness. Instead young women should choose an education and career that that comes with a better income and/or pension. Older women need to do what they can to improve their wealth. Stewing that life’s not fair will not fix much.

You are not on team female, you are first and foremost on team YOU (and yours).

AND the old idea of pairing up with a decent male which has been a biological drive and an economic drive since time immemorial should not be forgotten. Being a single female parent is not usually a great route to wealth.

#9 TurnerNation on 11.30.22 at 2:20 pm

The “New Guy” on the weekend got his wish. A liftoff in Biotech eg. XBI.US
(According to blog lore no matter how long one is here, unless they are Gartho they are known as The New Guy(s))

—————
Salut Boss!

Soooooo sorry I still cannot return to the office. I am successfully fighting Inflation @ home!! With TIFF.

“Globe says TD, rivals hear remote work fights inflation
The Globe and Mail reports in its Wednesday, Nov. 30, edition that a recent U.S. National Bureau of Economic Research study questioned whether remote work could help keep inflation down. The Globe’s guest columnist Linda Nazareth writes that researchers asked businesses whether they were using more opportunities to work from home as a way to keep workers happy and moderate wage-growth pressures. …Earlier this month Bank of Canada Governor Macklem made it clear that he was eyeing the labour market as part of the inflation issue, saying the current level of joblessness was “not sustainable.” If more remote work means less pressure on wages, Ms. Nazareth says that would presumably be a desirable thing. As well as the data from the NBER study, the past two years have provided ample evidence that many workers love skipping their commute and would make monetary trade-offs to continue working from home. © 2022 Canjex Publishing Ltd.

#10 Trawna on 11.30.22 at 2:33 pm

The solution, of course, is to encourage smoking in obesity in women.

Alternatively, and more sensibly, subsidize men’s healthcare to shrink the longevity gap which is biased in favour of women.

#11 Bezengy on 11.30.22 at 2:34 pm

Having all the finances controlled by just one spouse must be a nightmare should the one controlling the whole mess is the first to exit stage right. I’ve been trying to get wife involved for awhile, but she’s really not that interested, although very capable. It would just be a lot easier for most folks to have a financial planner help with the transition imo, if they don’t already have one.

#12 SunShowers on 11.30.22 at 2:35 pm

Women would see more significant results by pushing for workplace unionization, and making a point of all staff members knowing each other’s salaries.

#13 Mean Gene on 11.30.22 at 2:35 pm

The old gender pay gap, you reap what you sow.

Also, jobs that are truly dirty, dangerous or difficult do pay better and if a group of people steer clear of those choices then the results are predictable.

However some workplaces do need improvement to eliminate sexism.

#14 Triplenet on 11.30.22 at 2:37 pm

Re: yesterday
#108 Dr. V
Most towns make the landowner responsible for clearing the sidewalk fronting the property. At my old office, I would clear it at quiting time and immediately salt it even if it was still snowing. This would help in hindering the snow packing and freezing to the concrete. Much easier to clear the next morning.

Untrue.
Stated cases from SC – BC and Ontario
A municipality cannot force a property owner to perform civic work (responsibility) such as snow clearing a sidewalk abutting their property.
In fact, in Burnaby, BC, the SC ruled a property owner can be held liable for damages (injury) as a result of not clearing properly.
So – don’t do it. Not your responsibility.

#15 Niagara Region on 11.30.22 at 2:39 pm

US WOMEN EARN $0.49 PER MEN’S $1.00

Thanks for the great column. Dr. Heidi Hartmann–PhD in Economics from Yale and President Emerita of the Institute for Women’s Policy Research–has determined that, over the course of their lifetime, US women earn $0.49 for every dollar that US men earn. Find out why here:
https://iwpr.org/iwpr-issues/esme/still-a-mans-labor-market-the-slowly-narrowing-gender-wage-gap/

#16 IHCTD9 on 11.30.22 at 2:42 pm

Fixing the pay gap will be as simple as getting Women interested in more high paying careers like those in STEM. Both my boys are taking Computer Science at two different Uni’s, and it’s a sausage fest at both. Only about 20% of CS grads are Women. Pretty much everything in Engineering is Male dominated 75% or more. In Medicine, it’s the other way around with Women outnumbering Men at the Convocation ceremony, but only by a smidge. Maybe human evolution is playing a role here?

As far as investing goes, I know very few of any gender who are very excited about investing. Of those few, none are Women. Conversely, the Ladies in my circle love talking about their pensions, and know every finite detail about how they work, and all plan to retire at 55.

#17 Not JP on 11.30.22 at 2:44 pm

“Closing the wealth gap is much easier said than done, but we must start somewhere and we can start now.”

I don’t know about the “wealth gap”, it is probably a derivative of the “wage gap”. After all you need some money first before you can invest.

However, when you compare men and women who work the same jobs, same hours, with the same level of experience and education in Canada, there is no wage gap. The wage gap is largely explained by career choices.

Should women be forced to chose higher paying jobs with longer hours that they don’t want? I don’t think so. Everyone should be free to chose the balance that is right for them.

#18 Sail Away on 11.30.22 at 2:45 pm

Thanks Tatiana!

Yes, agreed, bring in the ladies. Investing is an equal opportunity activity.

My wife and I enjoy discussing finances, and she especially enjoys distributing cash to our extended passel of 19 young’uns (~1/2m, 1/2f). That’s her true motivation.

At HS graduation, we give each kid some cash, a white paper on steps to set up registered/non-reg accounts, and a few sample portfolios. In bold: ‘Never, Ever Sell in a Downturn! Talk to someone first.’

It seems to be working well. Fun hearing about their investing.

#19 TurnerNation on 11.30.22 at 2:46 pm

Where are the Anti-VIXers?
Boomers will get this one:

We always go the distance right up to the wall
There’s nothing half way about it
That’s always been our call
VIX Says it All

———

— AB has a Trojan Horse Leader. Seeking to destroy this county via breakups. Another OIL war maybe?

Alberta Sovereignty within a United Canada Act
Bill 1 has been introduced to allow Alberta to fight harmful federal laws and defend the constitutional federal-provincial division of powers.
http://www.alberta.ca

#20 Brett in Calgary on 11.30.22 at 2:56 pm

I hear you Bezengy. I’ve been trying for years as well to involve my wife, but it’s “too stressful and scary”. It can be, for sure. In all honesty I told my wife if I peg it to contact Garth because she doesn’t have the desire to do what I do.
——————-
#11 Bezengy on 11.30.22 at 2:34 pm
Having all the finances controlled by just one spouse must be a nightmare should the one controlling the whole mess is the first to exit stage right. I’ve been trying to get wife involved for awhile, but she’s really not that interested, although very capable. It would just be a lot easier for most folks to have a financial planner help with the transition imo, if they don’t already have one.

#21 Jason on 11.30.22 at 2:56 pm

This boils down to women being risk averse on average compared to men. The point that has to be driven home, and is driven home by Garth, is that the risk lies not in losing all your money, rather not having enough to live comfortably in retirement. Link investing to security and women will come in droves.

#22 Stuck in Richmond on 11.30.22 at 2:56 pm

Ask an average woman how many pairs of shoes she has, and compare to average man.

#23 jess on 11.30.22 at 2:59 pm

from nov 22 1938 oil is king? above the law ?
polluter pay the courts say the same thing supreme
What happened to the rating: measure of insolvency ?
reported monthly for 20 years until 2019 ?
=========

R-star program
250b cleanup costs how much 1/4 trillion?
1- plugging cheaper
2-remediation spills and leaks most expensive
3-and then the landscaping

wells that are orphaned, inactive, or bankrupt How many ? 300 000? 400 000 pipeline who owns
smith was a lobbyist who urged the gov to adopt as pilot program
Rstar has been rejected many times who benefits.
loss will be in royalities 2b.?

https://pressprogress.ca/sources-boychuk/

For decades the Alberta Energy Regulator has allowed large producers to offload their cleanup obligations onto smaller ones, that then go insolvent or bankrupt.

Alberta’s new Premier has pushed a pilot program called the R-Star that will reward polluters for doing what they’re legally obligated to do anyway by letting them off the hook for billions in royalties owed to the province.

#24 Rook on 11.30.22 at 3:03 pm

Should we be at all concerned that the BoC lost around $522 million in Q3 this year, for the first time ever? Or is it a tempest in a teacup?

No, we don’t care. Did you notice when the bank made money? – Garth

#25 NewWest on 11.30.22 at 3:09 pm

#2 Citizen in Kelowna

“The pay gap b/w men and women has been well researched and distilled to a simple factor: women work less than men – at PAID labour -.”

There, FIFY.

Unpaid labour is not counted in GDP, but without it our society would collapse. That applies to everyone’s unpaid (and uncounted) labour. Traditionally this has been largely provided by women, but increasingly men are stepping into those roles too. This is going to change many things in our society, and that’s all for the good.

#26 Sail Away on 11.30.22 at 3:16 pm

#1 Don Guillermo on 11.30.22 at 1:53 pm

We have friends that have 2nd homes in Palm Springs/ Palm Desert and in Phoenix. Beautiful homes but maintaining these properties can cost $30,000 USD/year and upwards. Some spend more than 3 months and have to count days in country so as not to overstay. Our Calgary/ Pheonix friends are just about to retire and have decided to sell. They are looking for a property in Mexico. Depending on where they end up a similar property near the ocean could be 1/3 the capital cost and 1/6 operating costs. Couple that with an easy to acquire Permanente residence you can come and go as often as you want. You can also use professional management management to rent but most we know don’t. It’s fun to pop down in summer occasionally especially when the smoke moves in.

———

Sounds great! Have the locals given you a nickname yet, or is it D.G.?

#27 Dogman01 on 11.30.22 at 3:20 pm

#92 Bezengy on 11.30.22 at 8:11 am

Jason Kenney’s parting remarks, sad.
“From the far left we see efforts to cancel our history, delegitimize our historically grounded institutions and customs, and divide society dangerously along identity lines.
“And from the far right we see a vengeful anger and toxic cynicism which often seeks to tear things down, rather than build up and improve our imperfect institutions.”

———————————————–

I have always liked Kenny, during the Pandemic I knew he did not want to take the measures he did, therefore I had some trust in those measures. I also knew he would remove those extraordinary measures as soon as was reasonable.

Unfortunately in our Political System you need to pick “Red Tie” or Blue Tie” and the Red Tie LPC are ideologues and a hard NO. Hopefully the Blue Tie CPC are pragmatists …

Turning and turning in the widening gyre
The falcon cannot hear the falconer;
Things fall apart; the centre cannot hold;
Mere anarchy is loosed upon the world,
The blood-dimmed tide is loosed, and everywhere
The ceremony of innocence is drowned;
The best lack all conviction, while the worst
Are full of passionate intensity.

#28 chalkie on 11.30.22 at 3:22 pm

Ottawa reports that The Bank of Canada lost $522 million in the third quarter of this year, marking the first loss in its 87-year history.

The Bank of Canada dramatically expanded its assets during the pandemic as part of its government bond purchasing program. Also known as quantitative easing, the policy was part of the central bank’s efforts to stimulate the economy.
They gave away money like drunken sailors, and paid it out to thousands of people who were never qualified for the CERB and other programs. The Feds had no checks and balances in place, common sense is cheap, so we know they never bought that option.

Now the Bank of Canada is looking to the federal government for a solution to balance its books, good luck with that, Justin Trudeau, or should we say Just-in-time, is too busy giving away our money to foreign countries and people who are not entitled to it.

Canadian Federal Government: a little refresher on where your money went, these potential poorly targeted income transfers include:
• $11.8 billion in CERB for young people ages 15 to 24 with 2019 earnings between $5,000 and $24,000 deemed to be dependents living with parents in households with at least $100,000 in household income in 2019.

• $7.0 billion in CERB for spouses (Census definition) with earnings between $5,000 and $23,999 in 2019 in families with at least $100,000 in household income in 2019.

• $1.6 billion in CESB for Canadians ages 18 to 24 who are eligible students and with earnings below $5,000 in 2019 deemed dependents by the Census and living in families with more than $100,000 in household income.

• $1.4 billion in one-time payments to seniors not eligible for the GIS, which is specifically geared to low-income seniors. The payment’s cost would have declined from $2.5 billion to $1.1 billion had it relied on the existing GIS program.
CBC reported that Justin and his group handed out 240 billion dollars in just 8 months of the Pandemic, a number that sounds like something out of the movies, more like a horror nightmare movie, but MR. Just-in-time keeps throwing money at anything that sticks.

How much could you receive through the CERB? If you met the maximum eligibility requirements, you would have received $500 per week to a maximum of 28 weeks, even if you only made $5100 in part time salary for the year. What a gift. Do not worry, it is OK, you and I will pay for it, we are Canadians, we don’t complain.

If you received a $60,000 CEBA business loan, you can repay 66 percent of the total amount ($40,000) by December 31, 2023 and the remaining 34 percent ($20,000) is eligible for a loan forgiveness benefit. Even if you were honest enough to pay back the $40 Grand the other $20 Grand is forgiven (just imagine, forgiveness on 20 thousand dollars of taxpayers money) this was not a bad gift for doing nothing, don’t worry, you and I will pay for it.

There was money handed out to businesses that had not operated for years, people just had to show a business registration, we are the suckers now paying back this ridiculous what was called assistance, money that will never see the light of day, ever again back in the Government’s coffers.

Justin spent $952 million a day fighting the COVID-19 pandemic, according to a CBC.
Take a second look folks, the above is a B for Billions, it takes one thousand million to make one billion, do you need a bucket to throw up now?
Some people were so embarrassed with what your government was doing, they returned their cheques, they received money they never asked for, it just showed up in the mail or their bank accounts.

In the past, whenever I heard someone talking about a massive loss in their portfolio, I always asked what the composition of that portfolio was. Inevitably, each time one of the following answers came up:

More than 50% of the portfolio was invested in a single stock, it could have been Nortel, Blackberry GE, or Citigroup, or another bad nightmare.

More than 50% of the portfolio was invested in a single sector, oil stocks or financial stocks, tech stocks etc.

Lesson here is, get the advice of a legendary professional financial advisor, long term, it has almost a perfect record of paying great dividends long term, short term thinkers are called day traders or other nasty names, very few ever beat the index, you are either lucky or blessed if you do.

A good advisor does not work like the average advisor at a bank that looks at a chart and decides where you should be on the chart, given your age and all the other crap that goes with that song, a true well experienced advisor will know the makeup and ends and outs of each recommended stock and they do not try and fit a square peg into a round hole.

Keep in mind, a loss has not occurred unless you sell, or the stock goes Kaput etc., do not panic and make drastic decisions on your own, discuss, evaluate, and educate.

Average rents across Canada rose 11.8 per cent year over year in October 2022, which is more than double the annual hourly wage increase of employees at 5.6 per cent, as reported by stats Canada.
11.8 percent represents a rent increase of about $209 per month, bringing the cost of rent in Canada up to $1,976 for all property types. places like the big smoke obviously will set you back $2400 at the bottom range, but difficult to find.

Edmonton remained the most affordable of Canada’s largest markets with an average rent of $1,273.00. Lucky you, if you are living in the beautiful city of Edmonton, you are now enjoying the best of all worlds, cheap rent, modesty high income, more reasonable real estate, a great city and most importantly, wonderful people.

I am sure there are plenty of people who do read Garth’s Blog that can share many horror stories of watching wasted government money go down the drain.

Money, it is always nice to leave something behind: Have you made your will, don’t be a procrastinator, get to it?
57% of Canadians do not have a will, it creates a lot of stress for the loved ones left behind, and the next of kin is next in line to take it if you have no will, regardless of what you would have wanted, No will is a no say when you are dead.
Our legal term for this mess is called dying intestate. It means the government gets to use provincial laws to decide how to distribute your estate and appoint your executor, for once, listen to your wife, get it done.
Protect and grow the wealth acquired over your lifetime, document your wishes so that your hard-earned assets and property are distributed exactly the way you want, make sure your wealth is transferred in a way that triggers the least amount of taxes for yourself in your last year and for your loved ones.

Quote of the day: People can prosper under a bad government if the local administration is effective and suffer under a very good government if it is inefficient.

#29 Ian on 11.30.22 at 3:25 pm

According to S&P Global, while over 77% of Canadians have investments, only 21% are women and 79% are men.
Does the math on this statement make any sense?

#30 Tatiana Enhorning on 11.30.22 at 3:28 pm

#2 Citizen in Kelowna
Yes that is part of the finding, as well as the fact that at some companies women are still paid less for the same work. Regardless, this is simply meant to help highlight how to overcome any discrepancies through investing.

#31 Truefacts on 11.30.22 at 3:29 pm

The whole “pay gap” thing is misleading…

I have usually earned much more than my wife, but once money comes into the family, it’s the family’s resource – so who cares who earns it? I mean what families have a situation where the higher earner eats steak while the lower earner eats KD????

#32 Adam Smith on 11.30.22 at 3:34 pm

The gap isn’t really men and women, the gap is mothers and everyone else. There are useful questions to ask about what policies society owes to ensure mothers are compensated economically and in a career sense for doing something everyone agrees we really need them to do.

#33 mike from mtl on 11.30.22 at 3:38 pm

Not going to touch the ‘gender pay gap’ though I can attest women really don’t care / don’t know or are incredibly conservative with investments.

How many times Garth has probably heard the line “..I don’t want to lose a cent!” – that’s the HSA,GICs and Seg Funds customer base.

#21 Jason on 11.30.22 at 2:56 pm

This boils down to women being risk averse on average compared to men.

In general, I would agree.

#34 Ponzius Pilatus on 11.30.22 at 3:44 pm

#14 Triplenet on 11.30.22 at 2:37 pm
Re: yesterday
#108 Dr. V
Most towns make the landowner responsible for clearing the sidewalk fronting the property. At my old office, I would clear it at quiting time and immediately salt it even if it was still snowing. This would help in hindering the snow packing and freezing to the concrete. Much easier to clear the next morning.

Untrue.
Stated cases from SC – BC and Ontario
A municipality cannot force a property owner to perform civic work (responsibility) such as snow clearing a sidewalk abutting their property.
In fact, in Burnaby, BC, the SC ruled a property owner can be held liable for damages (injury) as a result of not clearing properly.
So – don’t do it. Not your responsibility.
——————
Interesting.
Had the same argument with my elderly neighbor, who’s always the first one out to eradicate every single snowflake from the sidewalk and the back access road.
Calls it his Civil Duty.
It’s all good, but what if he gets a heart attack.
I always do my side walk before 10 a.m..
Not perfectly, just enough so that people can walk through.
I like Civil Law, that puts more onus on the public to look after themselves.
Rather than suing everyone.
And in the Lower Mainland it mostly washed away by rain the next day anyway.
If you pile it up, it stays like at least a week.
At Mall parking lots probably

#35 Sail Away on 11.30.22 at 3:50 pm

#112 Sail Away on 11.30.22 at 1:09 pm

“I rolled with the Oath Keepers…..” etc…

———

Careful, pseudo Sail Away- when my unstable stalker sues me, as he’s publicly threatened on this blog, how will his crack team of investigators ever parse out the fake Sail Away from the real McCoy??

The televised courtroom drama:

Judge Judy: ‘You claim that Sail Away stated on the Greaterfool blog that the so-called climate crisis is 97% hogwash, codswallop and religious fervor, practiced by dishonest adherents, and they also stated that you were one of these adherents.’

Plaintiff: [sniff] ‘Yes’

JJ: ‘Present the evidence’

Heads explode. Roll credits.

#36 VicPaul on 11.30.22 at 3:57 pm

#8 Shawn on 11.30.22 at 2:19 pm
Do Women have less access to retirement benefits?

“These include women being under-represented in high paying jobs and having less access to retirement benefits…”

**************************************

True that women are still under-represented in the higher paying jobs but that is changing over time. Women are now over-represented in universities and that will have an impact over time.

I’m not sure about less access to retirement benefits. I would dare say women are quite a bit over-represented in government jobs with pensions.

Nurses, teachers, armies of admin people in every government department, federal and provincial.

Then again women would still be vastly under-represented in fire fighting, police and the armed forces which have very lucrative DB pensions in most cases.

Women would likely be over-represented in banking but I don’t know if the Big 5 still have decent pensions or not. Women would be under-represented in the railroads and regulated utilities that still have good pensions.

Anyhow, any individual women should not waste a lot of time worrying about this unfairness. Instead young women should choose an education and career that that comes with a better income and/or pension. Older women need to do what they can to improve their wealth. Stewing that life’s not fair will not fix much.

You are not on team female, you are first and foremost on team YOU (and yours).

AND the old idea of pairing up with a decent male which has been a biological drive and an economic drive since time immemorial should not be forgotten. Being a single female parent is not usually a great route to wealth.

*********

Thank you Shawn – well-toned rebuttal/facts.
Bill Burr (early) had a funny routine where he suggested women look at equal rights like it’s a smorgasbord “ooh, I have some of that C-suite…” et al.
As Dr. Peterson has pointed out, in the most egalitarian societies in the world (Sweden/Denmark) they have run the social experiment for decades – the outcome is what is….given the freedom to choose, men and women often choose to do different things and often the things men choose (dangerous, long hours, time away from family, hard physical labour, etc) are paid more or work more.
My sons (28/24) chose to be electricians and they are both doing very well. My daughter chose to become a Naturopath and she too is doing well. Her brothers however, make more than she does…and over time (because they’ve stuffed/are stuffing their registered accounts) are investing earlier in life and, over the arc of thirty years, the boys will likely end up about three- five X wealthier than their empathic sister who was personally motivated to help people (female Big 5 personality trait). They chose to build stuff with their hands (much more a male personality trait).

Who’s fault is that? I would contend…no one’s.

Some young women are getting into the trades but they are still mostly populated by men who are willing to go to work for 7am to an outdoor jobsite in January – and women are free not to choose that from the smorgasbord.

M58BC

#37 Graphics Girl on 11.30.22 at 3:59 pm

I try to steer younger women into self-directed ETFs. Not Bank Mutual Fund. They don’t listen. They want to stick their head in the sand, while men, who have been brought up with the notion that they must “provide” for their families get into investing much earlier and discuss their portfolios.

I hope women grow an ego and go after controlling their financial futures and not rely on their partners or financial planners (the crappy ones who get paid for selling you a product).

Generally, we accept the Pink Tax, we don’t haggle, and we’re more concerned about having a 2K purse than knowing what the S&P is doing.

When have you seen an article on investing in a women’s magazine?

I hope women step up and speak out. A man will not save you. Ladies: Become the man you want to marry.

#38 Shawn on 11.30.22 at 4:00 pm

The Finacialiation of Previously Unpaid Labour

#25 NewWest on 11.30.22 at 3:09 pm
#2 Citizen in Kelowna

“The pay gap b/w men and women has been well researched and distilled to a simple factor: women work less than men – at PAID labour -.”

There, FIFY.

Unpaid labour is not counted in GDP, but without it our society would collapse. That applies to everyone’s unpaid (and uncounted) labour. Traditionally this has been largely provided by women, but increasingly men are stepping into those roles too. This is going to change many things in our society, and that’s all for the good.

***********************************
You are right, unpaid labour is not counted in GDP

But we have been shifting unpaid labour over and making it financially paid in a process that goes back hundreds of years.

In the past 50 or 60 years an enormous amount of child care labour has become paid.

Over the past 100 years or so vast amounts of home cleaning and home cooking and home cloth mending has shifted over to being something we pay for and now included in GDP.

All those fast-food meals and a huge percentage of restaurant meals replace unpaid home meal preparation of (pick a number) 50 to 70 years ago.

Electric washing machines, vacuum cleaners and dishwashers are things we pay for (along with the electricity) and replace former unpaid work.

Driving replaced walking, the list goes on.

Paid entertainment and paid sports leagues replaced free versions.

I have wondered what part of the GDP growth in the past 100 years represents a one-time shift of unpaid work into the paid arena.

People complain about the financialization of houses. EVERYTHING has been increasing financialized over the past 100 years and even 400 years or more. This process will not stop. (Except this blog, will remain free.)

#39 Linda on 11.30.22 at 4:02 pm

Excellent column Tatiana. I’d add that in addition to earning lower wages than male employees, women also have additional expenses for grooming, clothing & female hygiene. Those expenses certainly add up over a lifetime.

As for the flow through effects of lower wages, this also affects how much one receives via CPP or any employer pension plan. While I would urge all eligible Canadians to open a TFSA & contribute the maximum, this is one investment vehicle that ladies in particular should take full advantage of.

#40 the Jaguar on 11.30.22 at 4:06 pm

The pay gap thing never seems to go away, though it cycles back as entertainment occasionally (Jordan Peterson/Cathy Newman infamous interview, chapter in Douglas Murray’s ‘The Madness of Crowds’). IMHO, this is a subject that reaches far beyond investing and wealth. I’ll just put it out there and say I think society is failing young men. Something went off track. Lot’s of young women represented in the STEM fields, finance, retail sectors, etc. Big career or small career they seem to have options. I don’t see the same dynamic with young men.

There have been a number of news items recently about companies needing trades people and finding they need to go out of country to recruit people versus training up youth in Canada. (link below to a recent story). Not everyone is cut out for STEM, so what are the other opportunities? And why do we need to go out of country to fill very well paid trades jobs?

https://edmonton.ctvnews.ca/we-need-quality-people-alberta-welding-companies-say-need-for-employees-is-dire-1.6169406

This isn’t the 1970’s anymore. Young women have every advantage available to them including starting early with finances and investing. It has a lot to do with choices and ‘wiring’, especially when younger and as the biological clock ticks.

Don’t bother with the pile on, I’ve slipped back down my rabbit hole.

#41 Kootenay Dave on 11.30.22 at 4:08 pm

I assume stay at home mothers (and fathers) were removed from this analysis, as well as maternity (and paternity) leave years?

#42 Dolce Vita on 11.30.22 at 4:08 pm

Thank God.

World not falling apart after all.

Argentina 2 – Poland 0

Italian Announcers took a stab at almost every Polish surname until they came to this surname, a 72′ substitution:

Jędrzejczyk

Silence. An unusual feat for chatterbox Italian Announcers.

Score could of been a lot worse. Goalie Szczęsny (another fun name for Italian Announcers) blocked a Messi penalty kick and point blank shot.

The World Order has been restored.

I’m all in the green today and thank you for that, Lord of the World, Jerome Powell + Tiff & Crew.

#43 Ponzius Pilatus on 11.30.22 at 4:13 pm

Women may not be on top of the pay scale.
But they make the major purchasing decision in most households.
RE agents and car sales people are very well aware of that.
Happy wife, Happy life.
And in the majority of the families in my social circle, the women are the bread winners.
So, I believe it’s just a matter of time and patience and women will get what they wish for.
But as the saying goes:
Be careful what you wish for.

#44 Ryan on 11.30.22 at 4:14 pm

Wow. All the incels are out in full force today.

#45 wallflower on 11.30.22 at 4:15 pm

#6 Daniel on 11.30.22 at 2:09 pm
Totally agree.
So beyond tiresome.
Sick of it. Can’t stand it anymore.
(I am female.)

#46 PBrasseur on 11.30.22 at 4:26 pm

Don’t move to Saudi Arabia you might be a little disappointed ;)

#47 Carly in Cabbagetown on 11.30.22 at 4:28 pm

Yikes. More than half the first 25 comments so far on today’s topic are either denialist put downs of women’s reality and Tatiana’s piece, or outright misogynist tropes thinly veiled.

Very sad for what this blog should represent, Garth.

#48 Tatiana Enhorning on 11.30.22 at 4:28 pm

#21 Jason
Actually, this commonly held believe has been debunked. Though women do take more calculated risks on their investments, they are not actually more risk averse.

#49 YVR 60% Crash on 11.30.22 at 4:32 pm

#17 Not JP on 11.30.22 at 2:44 pm

“when you compare men and women who work the same jobs, same hours, with the same level of experience and education in Canada, there is no wage gap. The wage gap is largely explained by career choices. ”

I can’t say any better than this.

———————————–

@: Tatiana Enhorning- You’re a confused woman.

#50 Søren Angst on 11.30.22 at 4:34 pm

Without jinxing them, Big 5 Cdn Banks doing well.

RBC the first with a YTD Total Return > 0% (Stock = -2.24%, Div Yield = 3.83%). The rest, no cigar but getting there.

https://www.google.com/finance/quote/BNS:TSE?comparison=TSE%3ATD%2CTSE%3ACM%2CTSE%3ARY%2CTSE%3ABMO&window=YTD

My Cdn ETF relying on Cdn Financials performing, doing well as of late.

Hopefully more good news to come.

#51 Stealth on 11.30.22 at 4:39 pm

Thanks for the post, good idea.
Regarding practical nature of this can you help explain?

For example, smaller child, 5- teens, not eligible for tfsa, not for rrsp yet.
Resp ok but has specific purpose.
Tfsa, no.
Rrsp no.
Informal trust, too much hassle for small amounts not really for learning.
My tfsa no,
My non reg, I hope not.

So where can this practical learning, feeling of up/down etc take place?

Maybe open a non reg account in my name and allow her to learn, self directed Ofcourse have her hit a button on a limit order etc.

Apologies for the long winded post however having challenges actually implementing and correcting the problem you pointed out.

Thanks

#52 Quintilian on 11.30.22 at 4:40 pm

No, we don’t care. Did you notice when the bank made money? – Garth

That’s just crazy talk.

Of course, we should care.

It confirms just how wacky things are, and how the old compass won’t help to get you back to safety and how out of calibration the rest of the meters are.

Tick Tock, Tick Tock

#53 Dr V on 11.30.22 at 4:49 pm

6 Daniel

Yes, all valid points.

But you know what?

Nobody cares. Just the way it is.

So quit whining and get back to work.

#54 Graeme on 11.30.22 at 4:50 pm

I will chip in and get my girls started thinking about it. Sadly it looks like their generation is going to need to avail themselves of any & every advantage than can muster.

#55 Faron on 11.30.22 at 4:52 pm

#44 Ryan on 11.30.22 at 4:14 pm

Wow. All the incels are out in full force today.

#47 Carly in Cabbagetown on 11.30.22 at 4:28 pm

Yikes. More than half the first 25 comments so far on today’s topic are either denialist put downs of women’s reality and Tatiana’s piece, or outright misogynist tropes thinly veiled.

Very sad for what this blog should represent, Garth

Nothing more needs to be said. The barest mention of a gender wage gap and whisper of a hint that male dominated industries remain as such because they are toxic AF and Steerage looses its sht. This place often puts the very worst of Canada on display. Yuck.

#56 Ponzius Pilatus on 11.30.22 at 4:53 pm

#8 Shawn
Reading your comment:
“Under my Thumb”
By the Stones
Comes to my mind.
Condescending.
With a Capital C.
What does
Your wife think?

#57 Søren Angst on 11.30.22 at 4:54 pm

#28 chalkie

Save me 20 mouse thumb scrolls and next time link to this:

https://liberal.ca/wp-content/uploads/sites/292/2021/09/Platform-Forward-For-Everyone.pdf

then refer to pages 84-87 for all the goodies.

No need to comment, self-revealing boondoggle vote buying programs. My favorites:

Eliminating backlog of surgeries and procedures = $6 billion last year only.

[that worked out well]

AND

Tax credit for home appliance repairs = $440 million next 4 years.

[Gov Canada as the Maytag Repairman/person/whatever …]

#58 TMac on 11.30.22 at 4:56 pm

Forgot the very important point about women making 75% of what men do. It is because women gravitate towards different paying industries then men do with typically lower risk/danger which often comes with lower compensation.
The wages for both men and women in equal positions is the same.

#59 Tatiana Enhorning on 11.30.22 at 4:59 pm

#49 YVR 60% Crash
Most of the time yes, but not always. For many, many extenuating reasons women have a harder time getting and maintaining those higher paying jobs, and many more women than men are not able to work due to caring responsibilities. But this is not a conversation about the causes of equal pay. This is an article to implore women as to why they need to be even more active and savvy with their investing.

#60 Dr V on 11.30.22 at 5:07 pm

14 Triplenet

I cant recall seeing many comments from you lately.
Good to see you back. i think you are in the FV? I am on the island. Forecast revised to “no snow” for tonight.

There is a subtle difference between two issues here

1) Bylaws requiring the landowner to clear the sidewalk and

2) Liability for injuries on the sidewalk.

Hundreds of local governments have these bylaws, and can levy fines for infractions, though my guess is they
dont bother aggressively enforcing the bylaw,

Ultimately the LG does have liability for injuries.

I would have to review the individual cases to see the circumstances. Court cases are funny, because most of us want a simple yes or no answer that always applies.

As I neither want a fine, or someone hurt, I did the best I reasonably could. Even received thanks from passersby.

https://www.mcleishorlando.com/insights/snow-removal-and-the-law-in-ontario/

#61 Niagara Region on 11.30.22 at 5:10 pm

As someone who works with Statistics Canada data, who has a PhD, and who researches and labour, gender, and class in Canada and the US, I must say that I am stunned by the lack of knowledge behind many of the comments today and the willingness to blame women for lower lifetime earnings than men: women overconsume (e.g., buy too many shoes); women don’t want to get dirty on the job; women voluntarily choose to avoid STEM fields (rather than social forces working to push girls and boys into different areas in education); and men are the real victims now. We do not have gender equity in the labour force, nor in the universities. Please read some serious research articles on gender inequity in the workforce or at least give serious consideration to what Tatiana wrote rather than using the comment section to perpetuate some of the very logic that helps to keep gender inequity in the labour force in place. [Flame me, if you wish: I could use some of the responses in a future article or report.]

#62 Don Guillermo on 11.30.22 at 5:11 pm

#26 Sail Away on 11.30.22 at 3:16 pm

Sounds great! Have the locals given you a nickname yet, or is it D.G.?
########
They love using my first name Don. Honorific title I’m told. They call my wife Doña. The Fedex guy calls her Doña Summers even though she’s white and blonde. They have a good laugh. I use Guillermo for booking reservations and such. It loosely translates to my last name and I never have to spell it out.

#63 Shawn on 11.30.22 at 5:22 pm

What Does My Wife think?

#56 Ponzius Pilatus on 11.30.22 at 4:53 pm
#8 Shawn
Reading your comment:
“Under my Thumb”
By the Stones
Comes to my mind.
Condescending.
With a Capital C.
What does
Your wife think?

********************************
She thinks that she married well of course. But she also thinks that I married EXTREMELY well, and she is right on that for sure.

#64 Faron on 11.30.22 at 5:26 pm

#35 Sail Away on 11.30.22 at 3:50 pm
#112 Sail Away on 11.30.22 at 1:09 pm

I rolled with the Oath Keepers…..

Weird quote bruh.

“Sail Away, is it true that 5% of all attempts, by fit experienced mountaineers, to climb Mount Benson result in injury or death?”

Sail Away: “Well… buuuh… I mean… I guess maybe not. It IS an icy luge run though.”

“Perhaps you could ask your friend in SAR (to whom you have defamed my client) if that morbidity statistic is correct. We have, in fact done that, and show that the morbidity rate is [something very tiny]. So, we have clear evidence you are unreliable and prone to inventing ‘facts’ — the very foundation of defamation.”

#65 baloney Sandwitch on 11.30.22 at 5:27 pm

Good column. I have tried hard to get my wife interested in investing but no luck and have given up. I do the financial stuff and wife does the relationship stuff.

I think the wealth gap is really a knowledge gap. Women are just not exposed to the opportunities men are. Same is true for racial minorities, esp. Black folks (Asians also, but not as much). There is no one to mentor them Kids who come from well off, highly educated, financially savvy families have a massive leg up in life. This knowledge advantage accumulates over generations.

#66 Faron on 11.30.22 at 5:30 pm

#53 Dr V on 11.30.22 at 4:49 pm
6 Daniel

Yes, all valid points.

But you know what?

Nobody cares. Just the way it is.

Wow. Putin bombs Ukraine to bits. Dr V “Nobody cares. Just the way it is”. Keep up the good fight.

#67 Christos on 11.30.22 at 5:31 pm

Divisive gender stereotyping. I would not invest my money with someone who so clearly believes that the “pay gap” is a result of the “patriarchy” and not what is truly the cause – that men and women are different and do different things yielding different results, including pay. Terrible.

#68 Jesse on 11.30.22 at 5:46 pm

#2 Citizen in Kelowna on 11.30.22 at 2:00 pm
The pay gap b/w men and women has been well researched and distilled to a simple factor: women work less than men. That’s it. This is not a social justice issue, this is a practical outcome you’d expect when applying common sense.

************************

100% this! I know a lot of nurses (all women), and while they work “full time” they refer to their schedules as “0.7” For example, if the hospital requires 80 hours a 2-week pay period to be full time, then 80 hours would equal 1.0. With 80 hours = 1.0, 0.7 would equal 56 hours per pay period-80 x . 7- (28 hours a week), and so on.

#69 MontrealCPA on 11.30.22 at 5:48 pm

According to S&P Global, while over 77% of Canadians have investments, only 21% are women and 79% are men

I don’t think the math works here? Maybe men hold 79% of all investment value but if 77% of Canadians hold investments and 79% are men, this implies that 61% of the population is male. Doesn’t it?

Something does not add up.

#70 Predictable on 11.30.22 at 6:04 pm

What was more predictable: higher interest rates driving down home sales, or a woman posting something about investing for women getting derailed by mens rights activists?

It’s a tough call but I’d have to say the latter because it was 100% certain.

#71 Pylot Project on 11.30.22 at 6:07 pm

I’ll add this to the pot and see if it simmers. This is a bit from Forbes.

In a survey last year, 19% of women said they never want to return to in-person work, compared to only 7% of men. A more recent LinkedIn survey finds that women are 26% more likely than men to apply to work remotely. Other research finds that women want to work from home 50% more than men among college graduates with young children.

In another Forbes article, companies large and small are using Remote Work as a bargaining chip to manage wage growth. You can work from home but no or little raise.

If more women than men are working remotely and companies are offering less to do that job (no matter the gender), that may tilt the gap a little bit more.

#72 Dragonfly58 on 11.30.22 at 6:09 pm

In my career I saw a number of women try to make it. A good { but not great employer } A career with quite a laddered series of grades and at the top scale quite good pay. But at least a 15 – 18 year climb even for the best of the best. And an absolute drudge work ,mediocre pay, hot dirty { filthy } , rotating shift work entry level. Of the dozen or more I saw try to make a go of it exactly 1 actually stuck with it long term and made it to the top. I used to see the ones starting out and wonder to myself if they could not have possibly found something better. Within 6 months to a year they nearly always did.
I started in the early 1980’s. Very few options that led somewhere at that time. When I looked back at the 10 year mark I wondered how I ever put up with it all and stuck it out. Bt it did pay off by then and all in all was almost worth the scars early on. All except the chemical / asbestos exposure that is. Time will tell on that one, so far so good.

#73 Reality is stark on 11.30.22 at 6:10 pm

I’ve tried to have in depth discussions with women about derivatives and using options to mitigate risk and they accuse me of thinking about money 24 hours a day.
They actually find the discussions insulting.
There may be a reason for the wealth gap besides being “held down by the patriarchy”.

#74 Penny Henny on 11.30.22 at 6:18 pm

#84 Ponzius Pilatus on 11.30.22 at 12:29 am
Well,
I have not racked the leaves yet.
Always wait until all the leaves have fallen.
Most of the time the wind does the job.
Blowing them to the neighbours
It’s kinda neat how the wind piles them up in a corner.
And then, I get into action.
1 hour, and it’s done.
German/Austrian efficiency at work.

////////////////////

Sounds more like ‘Jerk neighbour at work’

#75 Don Guillermo on 11.30.22 at 6:22 pm

#65 baloney Sandwitch on 11.30.22 at 5:27 pm

I think the wealth gap is really a knowledge gap. Women are just not exposed to the opportunities men are. Same is true for racial minorities, esp. Black folks (Asians also, but not as much).

@@@@@@@@@

US

“Income By Race: Asian Income Is Highest

The most interesting data about income by race comes from the latest Census Bureau’s survey in 2019 (latest for 2022).Nov 3, 2022”

Canada

“Chinese and South-Asian Canadians are among the top earners and most educated. White people tend to be in the middle, while Latin American and Black Canadians come in lower.Feb 17, 2022”

#76 kommykim on 11.30.22 at 6:23 pm

RE: the women would still be at more risk of running out of money, as women tend to live longer than men.

Don’t mistake this for a rant. It’s a call to action.

=======================================

I agree 100% This is just not fair. Women shouldn’t live longer than men.

#77 crowdedelevatorfartz on 11.30.22 at 6:35 pm

@#40 the Jaguar
“I’ll just put it out there and say I think society is failing young men. Something went off track. Lot’s of young women represented in the STEM fields, finance, retail sectors, etc. Big career or small career they seem to have options. I don’t see the same dynamic with young men.”

+++
Total agreement.

Trades Fairs for women.

https://www.burnabynow.com/local-news/bcit-to-host-jill-of-all-trades-event-for-secondary-school-students-6168971

Nothing for young men.

They are ignored unless they are aboriginal, trans or from another country.

All others, need not apply.

#78 WTF on 11.30.22 at 6:53 pm

Cranky Carla”Very sad for what this blog should represent, Garth.”
—————————————————————-
I am sure Emma Zahn, Shop Steward, will take your grievance.

Anecdotal (Parent sibling friends) but, I do agree many women seem to be overly cautious about investing.

One of the things the FP we have insists on is: during the annual meeting, we both attend. Also have joint accounts, POA, Wills, I am certainly more interested in the financials than her but given she will likely out live me, she will still have guidance and a trusted advisor.

#79 Penny Henny on 11.30.22 at 6:54 pm

#36 VicPaul on 11.30.22 at 3:57 pm

My sons (28/24) chose to be electricians and they are both doing very well. My daughter chose to become a Naturopath and she too is doing well. Her brothers however, make more than she does…and over time (because they’ve stuffed/are stuffing their registered accounts) are investing earlier in life and, over the arc of thirty years, the boys will likely end up about three- five X wealthier than their empathic sister who was personally motivated to help people (female Big 5 personality trait). They chose to build stuff with their hands (much more a male personality trait).

Who’s fault is that? I would contend…no one’s.

///////////////

Sir please apologize immediately for you level headed comment.
Disgusting. /s

#80 crowdedelevatorfartz on 11.30.22 at 6:56 pm

@#74 penny henny
“Sounds more like ‘Jerk neighbour at work’”

+++
Now , now.
Ponzie can’t help himself.
Think of his comments as the written version of “Tourette’s Syndrome”

#81 Km on 11.30.22 at 7:04 pm

Thanks Citizen in Kelowona, let’s forget stats done in nations world wide as well as the actual first hand experience of …half the world’s population. I myself as a women, appreciate the mansplaining of a topic that is really utterly confusing to me and needed you to clear that up. If you are a woman, well it is just sadder.

#82 Gravy Train on 11.30.22 at 7:11 pm

#69 MontrealCPA on 11.30.22 at 5:48 pm
According to S&P Global, while over 77% of Canadians have investments, only 21% are women and 79% are men.

I don’t think the math works here? Maybe men hold 79% of all investment value but if 77% of Canadians hold investments and 79% are men, this implies that 61% of the population is male. Doesn’t it?

Something does not add up.

No, this implies that 61% of (adult) Canadians are men who hold investments. The base rate of men in the population of (adult) Canadians is about 50%. So, yes, something does not add up.

(My apologies to the 2SLGBTQ+ population for using binary classifications.)

#83 Penny Henny on 11.30.22 at 7:20 pm

#61 Niagara Region on 11.30.22 at 5:10 pm
As someone who works with Statistics Canada data, who has a PhD, and who researches and labour, gender, and class in Canada and the US, I must say that I am stunned by the lack of knowledge behind many of the comments today and the willingness to blame women for lower lifetime earnings than men:
/////////////

Look at you. You place blame on your father for you not purchasing a house whilst in your 40’s and thus missing out on a big run up of prices.
I ain’t got no PHD but I’m not blaming that on no one.

#84 Burberry Gentleman on 11.30.22 at 7:22 pm

TLDR. Written by a woman.

#85 Dr V on 11.30.22 at 7:29 pm

Yes, the plight of the male boomer.

Know your role Jabroni.

#86 Ponzius Pilatus on 11.30.22 at 7:32 pm

Judging from the comments here:
The “Old Boys Clubs” are still in control.
I’ll submit, the only thing that men are better at,
Is Drinking.
Prost

#87 Ponzius Pilatus on 11.30.22 at 7:37 pm

#76 kommykim on 11.30.22 at 6:23 pm
RE: the women would still be at more risk of running out of money, as women tend to live longer than men.

Don’t mistake this for a rant. It’s a call to action.

=======================================

I agree 100% This is just not fair. Women shouldn’t live longer than men.
—————–
Both the wage and the age gap are narrowing.

#88 Faron on 11.30.22 at 7:38 pm

#70 Predictable on 11.30.22 at 6:04 pm

What was more predictable: higher interest rates driving down home sales, or a woman posting something about investing for women getting derailed by mens rights activists?

It’s a tough call but I’d have to say the latter because it was 100% certain

That’s a bingo.

Say anything about a pay gap and a bunch of men stampede in to unintentionally demonstrate why working in a higher paid, male dominant profession sucks by bloviating, some outright misogynisticly, about why the issue exists. Amazing.

#89 Rebecca on 11.30.22 at 7:39 pm

Thanks for the guest post, Tatiana! The comment section is just as lovely as one would expect. I’m sure you’re not surprised, nor is any other woman on the planet.

I’m thankful that my parents never talked to me about money, because neither of them had the slightest clue how to manage it responsibly. My mom let my dad handle all the money stuff, and my dad gambled it away on penny stocks. They are both staring down retirement with nothing but CPP, OAS, and their kids.

I read Personal Finance for Canadians for Dummies as soon as I started my first full-time job. Now I’m in my mid-thirties with my RRSP and TFSA maxed. I’ve also got a healthy non-registered account, and I’m planning to retire in about ten years, because why not? All with your standard, diversified portfolio.

I’ve been incredibly fortunate to get where I am financially, but I’ve also avoided being naive like my mom or arrogant like my dad. Women, and everyone else of sound mind, need to control their own finances and invest sensibly, not squirrel away all their money in GICs or blow it on crypto.

#90 Wrk.dover on 11.30.22 at 7:40 pm

#29 Ian on 11.30.22 at 3:25 pm
According to S&P Global, while over 77% of Canadians have investments, only 21% are women and 79% are men.
Does the math on this statement make any sense?
___________________________________

21% + 79% = 100% of the 77% that are invested.

I hope you have a financial advisor doing your investing!

#91 Catalyst on 11.30.22 at 7:46 pm

Spreading this propaganda is so low harmful. It makes women feel the world is against them when it isn’t. For the same job in Canada, women do not earn less than men. That is a fact. I work at a big 5 and we pay a premium for women to attract more of them. If the wage gap exists, show 1 company that is proven to pay men more? Oh right, its everyone else.

The biggest challenge unsolved in my experience is child care. Most early career jobs don’t pay enough to have nannies so there is significant sacrifice from someone (usually the mom) to take care of child issues.

#92 DON on 11.30.22 at 7:48 pm

https://vancouversun.com/news/local-news/family-heading-to-court-after-life-becomes-untenable-at-richmond-home

Things you don’t plan for? Everything is good till it is Not.

#93 Sail Away on 11.30.22 at 7:49 pm

Gender pay gap?

If that’s the case, why wouldn’t every company hire all women and either lower their fees to be more competitive, or keep the difference and increase their profits?

Questions, questions.

#94 Laura B on 11.30.22 at 8:00 pm

Great post, Tatiana … Agree with your argument that women should leverage investing to close the wealth gap. Thanks for sharing.

#95 Indigirl on 11.30.22 at 8:00 pm

Wow. These comments. Stunningly ignorant.

What surprises me most, these comments do nothing to help improve the situation. Don’t we want everyone to invest wisely and have more in retirement? We don’t need to bore people, or talk about derivatives — we just need to make sure the women in our lives understand ETFs and lose their fear of the markets.

#96 Shawn on 11.30.22 at 8:06 pm

Derivatives adn Options?

#73 Reality is stark on 11.30.22 at 6:10 pm
I’ve tried to have in depth discussions with women about derivatives and using options to mitigate risk and they accuse me of thinking about money 24 hours a day.
They actually find the discussions insulting.
There may be a reason for the wealth gap besides being “held down by the patriarchy”.

**********************************
Based on this, she may rest her case that women are better investors than some men. Pick great companies or ETFs and hold.

Earn returns that are derived from the profits of serving customers not from bets with other investors.

Derivatives and options are an unnecessary side-bet. Buffett might suggest that such activities are not immoral but nor are they likely to financially fattening. And who are these side bets against? oh yes, mostly other men. And the house takes a skim every time.

#97 DON on 11.30.22 at 8:10 pm

#74 Penny Henny on 11.30.22 at 6:18 pm
#84 Ponzius Pilatus on 11.30.22 at 12:29 am
Well,
I have not racked the leaves yet.
Always wait until all the leaves have fallen.
Most of the time the wind does the job.
Blowing them to the neighbours
It’s kinda neat how the wind piles them up in a corner.
And then, I get into action.
1 hour, and it’s done.
German/Austrian efficiency at work.

////////////////////

Sounds more like ‘Jerk neighbour at work’
@@@@@@@@@

A jerk for allowing the wind blown leaves to fall on the neighbour side? Isn’t that just Nature and chance?

#98 Another Deckchair on 11.30.22 at 8:12 pm

A decade or so I read from an article by a recently retired HR person, who said something like

“in 25 years of hiring, I never once had a female ask for more $$ when a job offer happened. Men ask for more all the time; we have to give a lowball offer, and go up from there”

And, she was female, and was irked about why women don’t ask for more $$ like men do.

The comment floored me. Ladies, ask for more.

#99 Old Boot on 11.30.22 at 8:13 pm

The neckbeards are rattling their cages, I see.

Women had 3 professional jobs where they were welcomed – nurse, teacher and stewardess – until the 70’s.

Women couldn’t get open a bank account by themselves at a major bank until the 70’s.

Women couldn’t get a business loan from a major bank without a male co-signer until the 80’s.

Men do all the dirty, dangerous work? Well, men with no education or skills, or the temperament to acquire skills and education. It’s not like men with STEM degrees are chucking it all up to become rig pigs. Acting like the fact men generally do this work is evidence of some exclusively male virtue, is just a lie misogynists like to tell themselves.

14 Canadian women who were pursuing a STEM education in 1989 were murdered for their temerity. In 1989.

Emergency services simply used spurious physical requirements to refuse to hire women (and Asians) long after human rights legislation forbade it – it wasn’t discrimination, they were simply too short to reach the ladders on the fire truck – well into the 1980’s.

I was refused by my local volunteer fire department specifically because of my sex in 1985.

We can’t mention immigration here but misogyny is certainly welcomed.

#100 G Unit on 11.30.22 at 8:22 pm

I love how the ultimate advantage women have over men – living longer, has been spun by the author as a disadvantage. It is difficult to imagine a more privileged group in human history than contemporary western women. And yet, apparently, nothing is good enough.

#101 Cow Man on 11.30.22 at 8:27 pm

Wonderful article. Thank you for clearly out lining the facts. Now just include that in our schools’ curriculum.

If only !

#102 twofatcats on 11.30.22 at 8:30 pm

This survey needed a more granular breakdown to be meaningful. Women who work in government and who are protected with a DB pension will have a different attitude to investing when compared with women in the private sector or the self-employed who have no DB pension.

#103 Doug t on 11.30.22 at 8:38 pm

#93 sail

Don’t care much for your posts BUT …… this is good

#104 Unpinned on 11.30.22 at 8:42 pm

I discovered money reading the Globe and Mail back in the early 1990’s. It was an article on what futures and options are: a simple sentence about derivatives representing an underlying asset with a price at a certain date…I read it on the bus from the B.C. ferry dock to the downtown Vancouver Hotel on Burrard Street. I read it for hours and here I am 40 years old and had no idea what a GIC was. But I caught up fast when I looked at my credit card bills. Learning money is powerful and I guess being dirt poor and working for minimum wage makes you open the heavy door to money a crack to see what is there. I still can’t get CRYPTO.

#105 Faron on 11.30.22 at 8:44 pm

#93 Sail Away on 11.30.22 at 7:49 pm

And this is why the ER triaged you to the bottom priority — can’t fix stupid.

#106 Doing my Part on 11.30.22 at 8:48 pm

A classic in the comments section today, great entertainment.
Say what you will, men and women are not equal, they come programmed differently and with different physical attributes which both sexes exploit to their own benefit.

#107 Love_The_Cottage on 11.30.22 at 8:50 pm

#47 Carly in Cabbagetown on 11.30.22 at 4:28 pm
Yikes. More than half the first 25 comments so far on today’s topic are either denialist put downs of women’s reality and Tatiana’s piece, or outright misogynist tropes thinly veiled.

Very sad for what this blog should represent, Garth.
__________
Sad indeed, but not surprising given the track record.

#108 Faron on 11.30.22 at 8:57 pm

#90 Wrk.dover on 11.30.22 at 7:40 pm
#29 Ian on 11.30.22 at 3:25 pm

21% + 79% = 100% of the 77% that are invested.

I hope you have a financial advisor doing your investing!

I initially thought similarly, but it doesn’t pen out.

Say you have a pool of 20 million working adults in Canada (actual # is 18.8 mil = awkward). 77% of 20 is 15.4. 79% of 15.4 is 12.2 mil implying your pool is 61% men. This could be the case if the labour distribution is uneven, which it is with a 5 percent spread in proportion of males vs females in the workplace. Still doesn’t pen out.

I looked at the 2019 S&P report amtd couldn’t find the stat.

Garth or Tatiana, care to clarify?

#109 A01 on 11.30.22 at 9:01 pm

As many of said, the use of the term “gender pay gap” is misleading. Women and men who do the same job and work the same hours etc. do not see a difference in pay.

#110 IHCTD9 on 11.30.22 at 9:03 pm

#61 Niagara Region on 11.30.22 at 5:10 pm
As someone who works with Statistics Canada data, who has a PhD, and who researches and labour, gender, and class in Canada and the US, I must say that I am stunned by the lack of knowledge behind many of the comments
——

I see you’ve let your schooling get in the way of your education.

#111 crowdedelevatorfartz on 11.30.22 at 9:09 pm

@#92 DON
“Things you don’t plan for? Everything is good till it is Not.”

+++
I have some elderly friends that had the EXACT same thing happen to them.
Owned a house.
Their only child (son) got married and moved into the parents basement with the new wife.
Wife became pregnant.
Elderly parents Sold the house to move to a bigger house with the kids and grandkids.
Parents gave ALL the proceeds from the sale to their son to buy the new house with the understanding that they could live in the new house.
Aging parents built out a basement suite and moved in downstairs with the young married couple and kids(twins) living upstairs.
2 years later…
Get out.
Elderly Parents had zero claim to the house as they had “gifted” the proceeds of the previous sale to their son and his wife.
They are now renting in an apartment building.
Their son owns the house, rents out the basement and refuses to give them anything.

Oh and a few weeks ago…..the son was diagnosed with cancer….terminal.

#112 Ponzius Pilatus on 11.30.22 at 9:22 pm

97 DON on 11.30.22 at 8:10 pm
#74 Penny Henny on 11.30.22 at 6:18 pm
#84 Ponzius Pilatus on 11.30.22 at 12:29 am
Well,
I have not racked the leaves yet.
Always wait until all the leaves have fallen.
Most of the time the wind does the job.
Blowing them to the neighbours
It’s kinda neat how the wind piles them up in a corner.
And then, I get into action.
1 hour, and it’s done.
German/Austrian efficiency at work.

////////////////////

Sounds more like ‘Jerk neighbour at work’
@@@@@@@@@

A jerk for allowing the wind blown leaves to fall on the neighbour side? Isn’t that just Nature and chance?
——————————.
Of course, Donnie.
The answer, my friend, is blowing in the wind.
The biggest problem is, that people always have to muck around with Nature.
And she’s getting pissed off.
Leaves Lives Matter.

#113 crowdedelevatorfartz on 11.30.22 at 9:23 pm

@#99 Old Boot
“Emergency services simply used spurious physical requirements to refuse to hire women’
+++
Well.
If I’m in a burning apartment building and the elevators “home” to the ground floor and the stairs are filled with smoke….
Will you feel more comfortable having the “equality hired” ( they also get the same pay…union rules) firefighter that weighs 160lbs try and carry my obese lard ass down a 10 story ladder or the 250lb jock misogynist.
I’d rather trust my life with a person ( equally paid …union rules) who can carry 200+ lbs.
Believe it or not.
There are some physical jobs that 99% of women can’t do or won’t want to do.
Stick to the high paying STEM careers.
You can all empower each other.

#114 Jacquie on 11.30.22 at 9:29 pm

Re: #21 Ian
« According to S&P Global, while over 77% of Canadians have investments, only 21% are women and 79% are men.
Does the math on this statement make any sense? »

—————————————————————————-

Yes it does make sense. For someone reading an investment blog, I’m a little shocked this statement doesn’t make sense to you.

Percent of (adult) Canadians who invest = ~77%

Of that 77%, 21% are women (16% of all Canadian women) and 79% are men (60% of all Canadian men).

What doesn’t make sense to you?

#115 Tom from Mississauga on 11.30.22 at 9:36 pm

Work in a freezer -18 to -25 sometimes 7 of 8 hrs. Great pay, no women. Don’t blame them, I don’t want the job either.
Getting a index fund or even a speculative stock, doesn’t matter, open an account at 18 years old and start.

#116 crowdedelevatorfartz on 11.30.22 at 9:47 pm

Latest BC overdose numbers
127 dead in October.
1827 dead so far this year.

This is insignificant compared to the number of drug overdoses/revivals EVERYWHERE that are choking our ER centers and causing paramedics to quit or go on stress leave.

Time for triage?
If you have overdosed twice in one night and OD a third time the same night?
Too bad sooo sad.

#117 Sail Away on 11.30.22 at 10:08 pm

#111 crowdedelevatorfartz on 11.30.22 at 9:09 pm

I have some elderly friends that had the EXACT same thing happen to them.
Owned a house.
Their only child (son) got married and moved into the parents basement with the new wife.
Wife became pregnant.
Elderly parents Sold the house to move to a bigger house with the kids and grandkids.
Parents gave ALL the proceeds from the sale to their son to buy the new house with the understanding that they could live in the new house.
Aging parents built out a basement suite and moved in downstairs with the young married couple and kids(twins) living upstairs.
2 years later…
Get out.
Elderly Parents had zero claim to the house as they had “gifted” the proceeds of the previous sale to their son and his wife.
They are now renting in an apartment building.
Their son owns the house, rents out the basement and refuses to give them anything.

—————

Damn kids.

Being in the same house can lead to tension, though, usually on the inlaw side. In our family, the oldsters usually end up living in a separate place on the same property. My parents have been testing the waters by living in our guesthouse for months at a time the last few years. It’s nice, and efficient, for everyone.

The same house would be tough because sometimes that bearskin in front of the fire (under the octopus tourist art) needs exercise.

#118 IHCTD9 on 11.30.22 at 10:10 pm

#99 Old Boot on 11.30.22 at 8:13 pm

Men do all the dirty, dangerous work? Well, men with no education or skills, or the temperament to acquire skills and education. It’s not like men with STEM degrees are chucking it all up to become rig pigs. Acting like the fact men generally do this work is evidence of some exclusively male virtue, is just a lie misogynists like to tell themselves.
—————

I like you ‘Boot, but the above paragraph is a gigantic steaming pile of rancid bullshit of the highest order.

#119 Summertime on 11.30.22 at 10:11 pm

If we live in a true capitalist society with it’s true labour mobility then there should be no discrimination based on gender. Every owner or manager will hire a woman for less money if she does the same work in order to profit more, and that will drive demand for women which will drive their salaries up.

So that s clearly a BS argument. There is gender based preferences for work as well as for sports interests etc. As there are physical differences between genders.

Main reason why all sports competitions are gender separated and ever will be.

And why Messi is making his money on the football field while Kim Kardashian in social media.

A woman sport star will never be paid the same as a man unless she competes in a man’s teams.

——————————

In the professional/brain field things are different. Many women are much savvier and smarter and make great careers in management, as doctors, teachers etc.

And many more make great careers today in the investment field as well as they have much better instincts.

Plus women live longer, so they are truly becoming the
strongest gender.

One constraint is the biological clock.

A career + a house for a woman requires time and that leaves less time for family and kids, so such professional achievers have less chance to reproduce.

Biology 101.

Watch the movie ‘Idiocracy’.

—————————-
—————————-

As for the BoC losses, it is just an accounting trick

It bugs me why this entity is called a ‘bank’ after all.
They are the money printing entity created with the combined purpose of ensuring bank profits and in order to ‘purchase’ a bankrupt and irresponsible government bonds who no one else will otherwise touch currently.

Who failed miserably in their core mandate of ensuring price stability. And who have a major role in creating the current debt situation and should be hold accountable for destroying the lives of generations on young people by converting them to lifelong debt slaves for a mere shelter. Tomorrow will be just for food and maybe air.

I care not if that was intentional or driven by incompetence, the end result is the same.

Maybe is time to rethink the whole money and central banks concept.

The fact that these very people with proven incompetence and zero credibility can have full digital control of one’s capital and labour through the current monetary system gives me the chill.

#120 Shirl Clarts on 11.30.22 at 10:16 pm

The only way to address the gap in pay is for men to earn less and so that women can earn more. For one-income households (assuming the man), it means the woman will be more pressured to work to make up for the difference. For dual-income households, there’s no change.

There’s a lot of women out there that don’t want to work. But the feminist movement dragged them into a fight that was waged by a few. Those are the ones getting screwed as they have to work, and be the nurturing parent. This also puts a ton of pressure on marriages. It’s no wonder the divorce rate is so bloody ridiculous. 80% of all divorces are initiated by unhappy working women.

#121 Summertime on 11.30.22 at 10:26 pm

There is a strong correlation, with some lag, between fast increasing house prices and reduced birth rates.

More expensive house requires more time and resources to pay and leaves less time and resources for kids.

The irony is that the main purpose of the house is to allow for having kids.

The current situation is the same as the extreme culling of the herd/life stock by not allowing it to reproduce while extracting everything from it in the form of debt forced labour.

The statistical data is there, just mine it.

Hence the current situation, with birth rates down the drain, expensive houses and fake consumption based standard of living that combined with the exceptional greed of the stingy true owners of this place calls for much higher immigration ignoring the fact that the current living conditions make it truly unattractive for top professionals.

You can’t be a good professional and be a dumb debt slave at the same time.

#122 Dr V on 11.30.22 at 10:36 pm

Gotta watch – Norah Vincent – a self-made man.

Might help explain a few things

https://www.youtube.com/watch?v=0-uv8gT9Kxw&ab_channel=HiroshiLuo

#123 Faron on 11.30.22 at 10:36 pm

#113 crowdedelevatorfartz on 11.30.22 at 9:23 pm

Your view of how a firefight does their job is based in Hollywood fantasy. There’s a physical fitness test that must be passed. It’s very tough and heavily cardio leaning. The fitness is needed to run hoses and other gear up and down stairs in turn-out gear (weighs 20lbs + and is very well insulated) manage charged hoses, and do necessary wrecking to access spaces unaccounted-for people may be in. The strength is not to carry bodies around. JFC.

“[the firefighter’s carry] has been replaced in firefighting due to the drawback that smoke and heat are greater higher up…”

In my training I learned that, nowadays, one drags your limp arse wherever it needs to go. Saves you from being dropped on your head (again) too.

Firefighting demands smart, tough people who can think on their feet. Not derpy brute force.

#124 Jacquie on 11.30.22 at 10:44 pm

Re: #99 Old Boot

The neckbeards are rattling their cages, I see.

Women had 3 professional jobs where they were welcomed – nurse, teacher and stewardess – until the 70’s.

Women couldn’t get open a bank account by themselves at a major bank until the 70’s.

Women couldn’t get a business loan from a major bank without a male co-signer until the 80’s.

Men do all the dirty, dangerous work? Well, men with no education or skills, or the temperament to acquire skills and education. It’s not like men with STEM degrees are chucking it all up to become rig pigs. Acting like the fact men generally do this work is evidence of some exclusively male virtue, is just a lie misogynists like to tell themselves.

14 Canadian women who were pursuing a STEM education in 1989 were murdered for their temerity. In 1989.

Emergency services simply used spurious physical requirements to refuse to hire women (and Asians) long after human rights legislation forbade it – it wasn’t discrimination, they were simply too short to reach the ladders on the fire truck – well into the 1980’s.

I was refused by my local volunteer fire department specifically because of my sex in 1985.

We can’t mention immigration here but misogyny is certainly welcomed.

—————————————————————————————

Eloquently said. Could not have said it better myself. I’m not surprised but am nonetheless disappointed at the knee-jerk defensiveness of many of the commenters who act like MGTOW disciples.

#125 SoggyShorts on 11.30.22 at 10:47 pm

#62 Russ on 11.29.22 at 7:21 pm
Dog poll: how do you prefer to pronouce this blog post title?

The Queen’s English version of process (proe cess) or the American common version of process (prah cess).
————————
You have to use both, the same way that sometimes it’s data and other times data.

#126 Ustabe on 11.30.22 at 10:54 pm

Of the over 600 mass shootings in the US so far this year not one of them was performed by a woman.

My mother was a clinical psychologist with Masters, full partner in her clinic in the early 60’s to mid 70’s. My then girlfriend was one of two females in her DVM courses at UofS in, again, the 70’s.

I worked the lower end of the restaurant business for decades. The guys generally gravitated to the steak house based on perception of income. So I was left mostly with women. Often single moms on assistance. My cafes/diners were in the working class neighbourhoods for good reason. That demographic goes out more often than the upper crust. Its a needed escape, a small respite. My girls enjoyed full medical/dental at 20 hours per week or more. I paid living wages. I often left a diner in the hands of my staff while traveling or whatever…it warmed my heart to watch them be able to move from shared basement suite, to their own apartment or mobile home. A number of times I sold staff a cafe or diner for less than market to my staff, those that wanted to participate.

Tatiana, not all of us are smooth brained mouth breathers. Honest.

#127 SoggyShorts on 11.30.22 at 11:03 pm

Re: #21 Ian
« According to S&P Global, while over 77% of Canadians have investments, only 21% are women and 79% are men.
Does the math on this statement make any sense? »

—————————————————————————-
—————————————————————————-
#114 Jacquie on 11.30.22 at 9:29 pm
Yes it does make sense. For someone reading an investment blog, I’m a little shocked this statement doesn’t make sense to you.
+++++++++++++++++++++++++++++++++++++++++++++++++
#90 Wrk.dover on 11.30.22 at 7:40 pm
21% + 79% = 100% of the 77% that are invested.
I hope you have a financial advisor doing your investing!

*********************************
Look harder @Jacquie & @ Wrk.dover:
77% of Canadians invest
of those 77%, 79% are men. So, how many?
77*0.79=61
good so far, but….

If
77 (61 men and 16 women) have investments, then
23 (who should be by birth 50/50) do not have investments
if we break down those 23 to 12 women and 11 ,men we get

100 canadians=
16 women who invest
12 women who don’t
61 men who invest
11 men who don’t
=====
28 women
72 men

… Now do you see the problem? the end results should be about 50/50 men/women

#128 Russ on 11.30.22 at 11:04 pm

114 Jacquie,

Thanks for bringing this point forward.

It would have been simpler to state “… of invested Canadians, 79% are men & 21% are women, (declared gender notwithstanding).

That 77% of Canadians are invested is superfluous for this blog post. And this point on it’s own is open for discussion as it seems high.

Faron has a good point tonight in that you cannot fix stupid…
but duct tape will muffle the sound :)

Cheers, R

#129 DON on 11.30.22 at 11:06 pm

#111 crowdedelevatorfartz on 11.30.22 at 9:09 pm
@#92 DON
“Things you don’t plan for? Everything is good till it is Not.”

+++
I have some elderly friends that had the EXACT same thing happen to them.
Owned a house.
Their only child (son) got married and moved into the parents basement with the new wife.
Wife became pregnant.
Elderly parents Sold the house to move to a bigger house with the kids and grandkids.
Parents gave ALL the proceeds from the sale to their son to buy the new house with the understanding that they could live in the new house.
Aging parents built out a basement suite and moved in downstairs with the young married couple and kids(twins) living upstairs.
2 years later…
Get out.
Elderly Parents had zero claim to the house as they had “gifted” the proceeds of the previous sale to their son and his wife.
They are now renting in an apartment building.
Their son owns the house, rents out the basement and refuses to give them anything.

*******

Geezus, How many others did this? That’s the question.

and Yikes!

#130 Don Guillermo on 11.30.22 at 11:23 pm

Interesting perspective

December 09, 2018

FacebookTwitterLinkedIn
…. is from Camile Paglia’s lecture below at about 4:00:

There is no female Mozart because there is no female Jack the Ripper.

Here’s what she says right before that, for context:

On the intelligence spectrum, it’s been shown again and again that women occupy the great middle of the IQ spectrum. But with men you have them turning up at the opposite extremes. You have male geniuses and you have male psychotics. That’s why one of my great sentences is that “There is no female Mozart because there is no female Jack the Ripper.”

#131 stealth on 11.30.22 at 11:38 pm

Good evening, this is my 2nd post today.

I like the article, I agree and want to do something positive about it.

What practical steps can I take now for a younger generation of females given that they can’t legally invest until 18.
Perhaps you can consider a post on this in the future.

Thanks

#132 SoggyShorts on 12.01.22 at 12:11 am

“Women are great investors, that’s a fact. As shown in a recent Fidelity survey of over of five million US investors throughout the last ten years, on average females outperformed males.”
-Tatiana

*********************************
Not sure why you’d start off with a women vs men statement on this blog of all places (have fun with that)
But my question would be:
“Do female financial advisors consistently outperform their male counterparts?”

Now that’s something I’d be interested in rather than a stat on amateur investors who overwhelmingly have funds with an advisor who is overwhelmingly likely to be male.

*From your study “86% of women agree that having their investments managed by a professional makes life less stressful”
and from your number, advisors are 85% men

#133 IHCTD9 on 12.01.22 at 12:25 am

#113 crowdedelevatorfartz on 11.30.22 at 9:23 pm
@#99 Old Boot
“Emergency services simply used spurious physical requirements to refuse to hire women’
+++
Well.
If I’m in a burning apartment building and the elevators “home” to the ground floor and the stairs are filled with smoke….
Will you feel more comfortable having the “equality hired” ( they also get the same pay…union rules) firefighter that weighs 160lbs try and carry my obese lard ass down a 10 story ladder or the 250lb jock misogynist.
I’d rather trust my life with a person ( equally paid …union rules) who can carry 200+ lbs.
Believe it or not.
There are some physical jobs that 99% of women can’t do or won’t want to do.
Stick to the high paying STEM careers.
You can all empower each other.
—— –

Watched a vid years ago. Drunk dude in a bar causing trouble. M + F cop show up, F cop tells buddy it’s time to go. Buddy says FY and clamps onto the edge of the pool table. Dude was maybe 5-10”, 170 (ie. smallish). She couldn’t budge him. Not an inch, not even close. Some of the bar patrons were laughing. Of course the job then fell to the M cop who had buddy on the floor in seconds.

It’s pretty scary how many folks discount the ultra-massive physical power difference there exists between Men and Women these days. Hopefully, not too many Ladies out there have bought into this.

#134 jane24 on 12.01.22 at 1:59 am

With 95% of the couples I have known in my life, the wife may not make the big money but she spends the big money. I was a RE agent in Canada for many years and I often wondered why the hubby was even viewing homes with us. We could have left him at home till we were down to the final one. His input and impact on the buying decision was usually minimal and as long as he could afford the house, most really didn’t care what or where it was. Chap just wants a bed to sleep in.

I recently decided that my hubby needed some better winter wear for the party season so we went off to Marks and Spencers. Now I was kind to my husband of 43 years and actually once I had decided on the sweater style gave him some choice of the colour but all around me men were being ordered into the changing rooms with the wife’s selection of clothes on their arm. Also noted that the well trained assistants were also selling to the lady.

Life is funny.

Tatiana I think you are brilliant but due to your stage of life experience you may not realise how couples work. I cannot speak for singles or the young but in my generation you married and everything is pooled and each does what they do best to make a happy and financially solid home. Everyone has different talents in life.

#135 Allan on 12.01.22 at 2:43 am

A woman can find rich husband and she’ll be fine without equal pay.
Man have to rely on his own work. Moreover, man needs a good paying job to have to have a decent family.

#136 Lolo on 12.01.22 at 3:06 am

When I(female) was in university in the 90s there was a career info session for actuaries. I was in 2nd year math. I decided to study math because I liked it, but was ignorant about career paths with that degree. So that session intrigued me(particularly when they spoke of earning potential) and I went after hours to get more info from the prof that set up the session. I had no classes with him so he had zero knowledge about me or my grades. Instead of providing me more info about the actuarial sciences and courses I should take to pursue that career, one of the first thing he said to me was, “you should think about being a teacher instead”. I cannot help but conclude he said that to be because I was a female student.

#137 Josh Feldman on 12.01.22 at 3:07 am

Using a communist image while managing funds under a capitalist economy?

You must be a child, or merely ignorant of history. Likely both. – Garth

#138 Coastal gal on 12.01.22 at 3:27 am

#32 Adam Smith
#30 Tiana

As a woman, I experienced the pay gap only once I had a child. I had a good government job.

First issue was childcare – difficult to find and expensive. Found great childcare 4 days/week so reduced my work hours (and pay) to 80% of fulltime.

As a single mom, I could no longer travel or work unpaid overtime (management position) due to family responsibilities. So had to find another job with the organization for reduced salary that did not require OT or travel.

Not complaining, but in my experience being a mom certainly impacts earnings.

#139 Toronto_CA on 12.01.22 at 3:58 am

Came here to question the 77% of Canadians (who are 50/50 male/female) can be split into 16% women and 79% men…does not make sense unless Canada is not evenly gendered. (with apologies to the woke for using binary genders) Is the value of the investments held 16% owned by women and 79% owned by men? that may work.

Thank you for those who are questioning it. And rude gesture to those being condescending to those questioning it. Though I do enjoy you being owned.

Clarify please Tatiana!

#140 Toronto_CA on 12.01.22 at 4:07 am

Or to put it another way

EVEN if 100% of Canadian men have investments, that is still only ~50% of all Canadians. So to reach 77% of all Canadians, we need another 54% of women (at 50% of the population = 27% + 50% men = 77%) to hold investments to get to 77% total.

#141 under the radar on 12.01.22 at 5:19 am

129- Parents should have been on title from the start , or secured their “gift” with a first mortgage or reserved a life interest in the deed. Maybe victims of poor legal advice or maybe they just refused to follow the advice they were given. I love my relatives but when our paths crossed in business it was me who cut the cards.

#142 Grateful in Victoria on 12.01.22 at 5:22 am

This is a great post today. Thank you.

#143 Travelling on 12.01.22 at 5:30 am

Women are great investors, that’s a fact.

———

Investing in others? I agree for the most part.
Investing in themselves? Not so much.

And that is where the problem truly lies.

#144 Wrk.dover on 12.01.22 at 7:44 am

#108 Faron on 11.30.22 at 8:57 pm
#127 SoggyShorts on 11.30.22 at 11:03 pm
Re: #21 Ian
« According to S&P Global, while over 77% of Canadians have investments, only 21% are women and 79% are men.
___________________________________

Read and comprehend up until the comma, before you enter your coma.

According to S&P Global, while over 77% of Canadians have investments,

Think about what you just read. Accept it!

Now, read the rest of the information about the Canadians with investments.

only 21% are women and 79% are men.

Why all the confusion?

I resigned from further formal education after grade 12 and basically dropped out of societies workforce at 35 because, the ‘educated’ nincompoop incompetents above me in life, make my head hurt.

I didn’t join Mensa despite my brother’s constant urging, because the Mensa bar is just set too low. Fact, both.

#145 the Jaguar on 12.01.22 at 8:10 am

Welcome to the ‘swamp’ Tatiana. 143 posts and I can’t decide which one is the best giggle. Maybe #134 Jane24. Why would a man allow himself to be dragged off to Marks and Spencers to endure being ordered into changing rooms with the wife’s selection of clothes on her arm? But there it is….” I recently decided…”. In almost every relationship one person holds more power. Only on close examination does it become evident who that one person actually is…

#146 the Jaguar on 12.01.22 at 8:25 am

For Under the Radar. You called it.

“ONTARIO MINISTER DENIES HE TIPPED OFF DEVELOPERS
National Post1 Dec 2022
Ontario Municipal Affairs and Housing Minister Steve Clark offered an emphatic denial Wednesday to allegations he tipped off developers ahead of announcing changes to the Greenbelt. Green Party Leader Mike Schreiner asked the integrity commissioner earlier this week to investigate whether Clark or Premier Doug Ford broke ethics rules around making a public policy decision to further someone’s private interests. Clark is proposing to remove land from 15 different areas of the Greenbelt, while adding acres elsewhere so that 50,000 homes can be built — despite previous promises from Ford and Clark they wouldn’t touch the Greenbelt.”

“And the seasons they go round and round
And the painted ponies go up and down’….Joni M.

#147 crowdedelevatorfartz on 12.01.22 at 8:27 am

@#133 IHCTD9
“It’s pretty scary how many folks discount the ultra-massive physical power difference there exists between Men and Women these days. ”
++++

A few year back there was an MMA fight between a transitioned (to female) fighter and another female fighter. ( I dont watch any of that Roman Area crap so I dont know the names of the combatants) .
They were both the same size , weight , etc.

After the fight when the female born fighter was carried from the ring she commented many weeks later in a magazine article.
“Everything was fine until the other fighter grabbed me. I have never felt a grip like that from another female opponent. Unbelievable.”

Greater upper body strength. More bone density. etc etc etc.
Its a fact of life.
Perhaps that’s why I see zero female bricklayers, on very few female steel workers, concrete finishers, etc etc etc.
Dirty, hard, physical labour on a noisy, dirty, dangerous construction site seems to lose its appeal when one is doing it day after day after day after day.
Enjoy the equality of a cold port potty in winter….you’ve EARNED that right!

#148 crowdedelevatorfartz on 12.01.22 at 8:36 am

@#137 Josh Feldman

Its not communist poster.
WWII poster for raising Bonds, “Rosie the Riveter”
Due to all the men fighting and dying in the war , women were pressed into working as factory workers for the war effort.

Another illegal firearm bites the dust but the criminals are becoming more inventive.

https://vancouver.citynews.ca/2022/11/30/one-arrested-untraceable-gun-delta/

Apparently the Liberals missed 3D printing in their latest Bill C-21 firearm bans….

#149 IHCTD9 on 12.01.22 at 9:10 am

#138 Coastal gal on 12.01.22 at 3:27 am
#32 Adam Smith
#30 Tiana

As a woman, I experienced the pay gap only once I had a child. I had a good government job.

First issue was childcare – difficult to find and expensive. Found great childcare 4 days/week so reduced my work hours (and pay) to 80% of fulltime.

As a single mom, I could no longer travel or work unpaid overtime (management position) due to family responsibilities. So had to find another job with the organization for reduced salary that did not require OT or travel.

Not complaining, but in my experience being a mom certainly impacts earnings.
____

Lots of different ways Moms can get impacted. Ms. IH spent years not working full time, as she chose part time work while the kids were pre-school. She had to change jobs to get that part time work, and made less at this new job. The old job was Union government with DBP, the new one was private sector – so years of no input into said DBP was another result. Reduced pay rate, reduced income, less investing ability (in the critical early years), DBP losses, and lower CPP pay out during retirement.

“Fixing” this is not really possible though. This was how she wanted to do Motherhood before the kids started School full time, and it was going to happen regardless of the downsides.

#150 Sharon Asger on 12.01.22 at 9:15 am

The central thesis of this essay is flawed as the whole male vs. female dichotomy went out with Bobby Riggs vs. Billie Jean king in the 70s. The diversity discussion is much complex now based on ethnicity, religion, lgbtqia2s+ and other factors. Sad to say but the whole male female debate largely emanates from angry Karens these days. Most people either ignore or videotape and put on social media

#151 IHCTD9 on 12.01.22 at 9:24 am

#144 Wrk.dover on 12.01.22 at 7:44 am

Read and comprehend up until the comma, before you enter your coma.

________

There’s a gangsta-rap song in there somewhere.

#152 Niagara Region on 12.01.22 at 9:52 am

#83 Penny Henny
Look at you. You place blame on your father for you not purchasing a house whilst in your 40’s and thus missing out on a big run up of prices.
I ain’t got no PHD but I’m not blaming that on no one.
__________________________
I forgot to mention an important detail when I mentioned that problem earlier: my father is a builder. He has built from scratch and renovated many houses and other buildings. Hence, when he told me that a given house I had selected had a very poor foundation that would require a lot of repairs (or whatever other story about expensive repairs or grounds prone to flooding he told me about the handful of other houses I had wanted to buy), obviously I believed him.

#153 Dharma Bum on 12.01.22 at 9:57 am

But, but, but Canada’s authoritative voice of reason, Dr. Jordan B.Peterson says that the wage gap is a myth!
Men are just more disagreeable than women do they negotiate more aggressively.
Jordan says so, so it MUST be right!
https://m.youtube.com/watch?v=aINDG7AI-4o

#154 Sail Away on 12.01.22 at 10:01 am

Yesterday’s Neuralink presentation was fascinating. Great progress in 6 years.

Today’s Tesla semi unveiling should be fun.

#155 LuckySoB on 12.01.22 at 10:14 am

Fastest way to close the wage / wealth gap is have more men identify as women.

Modern problems require modern solutions.

#156 Niagara Region on 12.01.22 at 10:21 am

#86 Henny Penny
_______________
P.S. My father is an amateur builder, not professional. He has designed, built, and extensively renovated many houses and other buildings gratis for family and friends in the area where he lives.

#157 Penny Henny on 12.01.22 at 10:37 am

Well it looks like CIBC shat the bed last quarter. CM is down over 5%

#158 Old Boot on 12.01.22 at 10:40 am

#113 crowdedelevatorfartz on 11.30.22 at 9:23 pm

@#99 Old Boot
“Emergency services simply used spurious physical requirements to refuse to hire women’
+++
Well.
If I’m in a burning apartment building and the elevators “home” to the ground floor and the stairs are filled with smoke….
Will you feel more comfortable having the “equality hired” ( they also get the same pay…union rules) firefighter that weighs 160lbs try and carry my obese lard ass down a 10 story ladder or the 250lb jock misogynist.
I’d rather trust my life with a person ( equally paid …union rules) who can carry 200+ lbs.
Believe it or not.
There are some physical jobs that 99% of women can’t do or won’t want to do.
Stick to the high paying STEM careers.
You can all empower each other.

———-

If your lardass is still in the burning building when the FD arrives, it’s because you’re dead and no one is carting you out of there.

They’re stomping all over your barbecued ass while saving the foundation from the flames. Later, when someone notices something that may once have been human, paramedics will come and say “Yes, that’s a human body. Too bad he was too fat to get out in time.”

The heaviest thing hose monkeys routinely lift is a paramedic’s jump kit.
Paramedics lift several tons of human meat per day. Hose monkeys get paid to lift barbells and administer the ‘stare of life’.

The hardest working hose monkeys are in their PR department.

#159 Summertime on 12.01.22 at 10:43 am

CAD is getting some sound trashing today compared to the Euro, worse only to the beating from Morocco but hey, 1 scored goal vs. 8 received is not that bad after all.

Let’s be positive, it could be worse. The only thing inappropriate was the big mouth before the games but we are so used to that, arn’t we?

What is important is the false sense of superiority and ignorance.

#160 Penny Henny on 12.01.22 at 10:54 am

@#99 Old Boot
“Emergency services simply used spurious physical requirements to refuse to hire women’
//////////////////

Earlier this year my mom was very ill and needed to be transported to a hospital. The paramedics were called and they were two very nice and helpful women. There was a problem though, because of the nature of the illness my mom wasn’t able to walk and the stretcher wouldn’t fit through the house. So it was necessary for her to be carried out of the house on a very basic stretcher (think two long wooden poles with fabric). The problem was that the two female paramedics, for one reason or another, were not confident in their abilities so they called in a fire truck and had the male firemen physically carry her out, my mom was not a big woman (maybe 140 lbs).
So a job for two paramedics turned into a call for a backup firetruck which took a firetruck off the road along with it’s 5 crew members.

#161 the jaguar on 12.01.22 at 11:00 am

Gawd I love Old Boot!

#162 Old Boot on 12.01.22 at 11:03 am

#133 IHCTD9 on 12.01.22 at 12:25 am

#113 crowdedelevatorfartz on 11.30.22 at 9:23 pm
@#99 Old Boot
“Emergency services simply used spurious physical requirements to refuse to hire women’
+++
Well.
If I’m in a burning apartment building and the elevators “home” to the ground floor and the stairs are filled with smoke….
Will you feel more comfortable having the “equality hired” ( they also get the same pay…union rules) firefighter that weighs 160lbs try and carry my obese lard ass down a 10 story ladder or the 250lb jock misogynist.
I’d rather trust my life with a person ( equally paid …union rules) who can carry 200+ lbs.
Believe it or not.
There are some physical jobs that 99% of women can’t do or won’t want to do.
Stick to the high paying STEM careers.
You can all empower each other.
—— –

Watched a vid years ago. Drunk dude in a bar causing trouble. M + F cop show up, F cop tells buddy it’s time to go. Buddy says FY and clamps onto the edge of the pool table. Dude was maybe 5-10”, 170 (ie. smallish). She couldn’t budge him. Not an inch, not even close. Some of the bar patrons were laughing. Of course the job then fell to the M cop who had buddy on the floor in seconds.

It’s pretty scary how many folks discount the ultra-massive physical power difference there exists between Men and Women these days. Hopefully, not too many Ladies out there have bought into this.

——–

Wow, you watched a video once? You must be an expert on the subject.

I’ve witnessed, or assisted with, many arrests and takedowns and can speak with a wee bit more credibility dude.

Like “the hose monkey will carry me from the burning building” myth , no single cop, male or female, is tackling a resisting suspect with physical force. 5 cops, each using a weapon in the escalating force continuum, if time and circumstance permit.

People who actually work in violent environments also know that female/male suspect interactions have a different dynamic than male/male interactions. The most effective paramedic or policing partnerships use this to their advantage.

As long-time paramedic (and former RCMP reserve member), in Vancouver’s DTES, I have a little more experience informing my opinions than watching a video.

Women serve in every PD in Canada, and the bars and gutters are not full of their battered, disarmed corpses. I invite you to resist arrest by a female officer , should the opportunity arise, and maybe learn something.

#163 Doug in London on 12.01.22 at 11:10 am

Yes, women are on average better investors than men. I’m reminded of a book titled Why Warren Buffet invests like a woman and why you should too. I don’t have any statistics to back it up, but my guess is that most of the gamblers who got burned by this FTX scam have a Y chromosome.

#164 Penny Henny on 12.01.22 at 11:11 am

#152 Niagara Region on 12.01.22 at 9:52 am
#83 Penny Henny
Look at you. You place blame on your father for you not purchasing a house whilst in your 40’s and thus missing out on a big run up of prices.
I ain’t got no PHD but I’m not blaming that on no one.
__________________________
I forgot to mention an important detail when I mentioned that problem earlier: my father is a builder. He has built from scratch and renovated many houses and other buildings. Hence, when he told me that a given house I had selected had a very poor foundation that would require a lot of repairs (or whatever other story about expensive repairs or grounds prone to flooding he told me about the handful of other houses I had wanted to buy), obviously I believed him.
/////////////

Well that certainly explains alot. I thought you were just looking for someone to blame.

#165 Dr V on 12.01.22 at 11:28 am

144 Wrk.dover

So we have this statement

“According to S&P Global, while over 77% of Canadians have investments, only 21% are women and 79% are men.”

If we separate the two “facts” that

77% of canadians have investments

and

21% are women and 79% are men

the second fact is false, as the ratio is very close to 50/50.

Most of us – myself included – have assumed from the wording that the 21/79 ratio only refers to Canadians who invest.

Now if that were true, males would total
0.79 of 77% = 61% of the Canadian population. Also incorrect.

Unfortuneately, this reflects poorly on the whole premise of this post, as I lose confidence in some of the other cited figures.

#166 Old Boot on 12.01.22 at 11:37 am

#160 Penny Henny on 12.01.22 at 10:54 am

@#99 Old Boot
“Emergency services simply used spurious physical requirements to refuse to hire women’
//////////////////

Earlier this year my mom was very ill and needed to be transported to a hospital. The paramedics were called and they were two very nice and helpful women. There was a problem though, because of the nature of the illness my mom wasn’t able to walk and the stretcher wouldn’t fit through the house. So it was necessary for her to be carried out of the house on a very basic stretcher (think two long wooden poles with fabric). The problem was that the two female paramedics, for one reason or another, were not confident in their abilities so they called in a fire truck and had the male firemen physically carry her out, my mom was not a big woman (maybe 140 lbs).
So a job for two paramedics turned into a call for a backup firetruck which took a firetruck off the road along with it’s 5 crew members.

————

No ambulance carries a WWII-era stretcher my dude, and no FD has 5 hosers on the truck. Lie better.

#167 Sail Away on 12.01.22 at 11:43 am

As my buddy says when the two of us are hunting remotely: ‘If you get hurt, I’ll be able to get you out but it’ll take two trips.’

#168 Tony on 12.01.22 at 11:52 am

Re: #89 Rebecca on 11.30.22 at 7:39 pm

Ironically my mother made all the money for my father through investing. Her mother was a psychic by profession and my mother also did psychic readings but never took any money. She used to see running pictures in front of her eyes could levitate tables spin compass needles bend spoons or forks into a pretzel. My father talked her out of contacting the authorities before the death of JFK saying they’ll arrest you. She had every minute detail correct even down to the shooter’s name.

#169 Gravy Train on 12.01.22 at 11:55 am

#144 Wrk.dover on 12.01.22 at 7:44 am
“[…] I resigned from further formal education after grade 12 […]”

But you learned about Venn diagrams in grade 7, right? :)

#170 SoggyShorts on 12.01.22 at 12:05 pm

#144 Wrk.dover on 12.01.22 at 7:44 am
“‘educated’ nincompoop incompetents above me in life, make my head hurt.
I didn’t join Mensa despite my brother’s constant urging, because the Mensa bar is just set too low. Fact, both.”

*********************************
Take a breath mate, and have another look:

77% of Canadians invest.
79% of those are men.
=
77 x 79% = 61% of Canadians are men that invest.

Impossible. 61% of Canadians aren’t men.
********************
Here try this with round numbers:
80% of people like tacos.
of those people 80% are men.
0.8 x 0.8 = 0.64
=64% of people are men who like tacos, but that’s impossible because it’s over 50%.

The statement
“64% people are men who __________ ” is already wrong no matter how you end it.

#171 Shawn on 12.01.22 at 12:26 pm

Generous Early Retirement Pensions are great for those receiving and bad for society.

Fed chair yesterday said Inflation is partly due to the labour shortage and the labor shortage was mostly due to “excess retirements”.

In Canada we are losing nurses partly becasue a lot of 55 year old and 60 year old nurses can afford to retire due to wonky magic number government pension formulas. (a 55 year old nurse with 30 years in the pension plan gets the same pension (at least in Alberta) as a 65 year old burse who started later and paid in for the same 30 years. The 55 year old will collect close to ten years longer on average. That’s not good math.

I know about this. I benefited greatly myself from the magic number and retired early.

#172 Randy on 12.01.22 at 12:28 pm

Women and the feminist movement have always been confused….Most don’t even realize that their leaders are gender inverted….Hollywood is 100% gender inverted…Wake Up.

#173 Dr V on 12.01.22 at 12:31 pm

157 Penny

“Well it looks like CIBC shat the bed last quarter. CM is down over 5%”.
——————————————————–

Yes, but that will plump the yield! Always a bright side.

I think they increased some loan loss provisions. I always watch for that. Though it could be seen as bad, if they over-estimate it, it works out well later.

BMO knocked it out of the park, but there was some accounting measure for the Bank of the West purchase that almost doubled the earnings. Not yet cheap IMO.

I think we discussed some ways to invest specifically in the banks. If you have a Canadian index fund, or a dividend cap-weighted fund, you get big chunks of RBC and TD, and smaller pieces of the other 3 (or 4), but the smaller ones can pay the higher divvies.

RBNK etf holds only the 6 banks and weights them according to yield – basically 2 banks at 25% each, [email protected]% and [email protected]% within rounding.

Go banks!

#174 Habitt on 12.01.22 at 12:34 pm

Wow so many nasty comments towards the ladies. For myself I’m grateful to have them in my life. To those that believe women has no clout and in years past I say remember your grandmother. She wielded respect. Lighten up guys. If we’re half men we assist in any way we can to see the ladies attain their potential. Full stop. We are better at different things. Big friggin deal. Just watch them flourish and their unreal capacity for good. Bless you ladies and thanks for all you do every day.

#175 Ponzius Pilatus on 12.01.22 at 12:48 pm

It’s kinda weird.
That a post about women investors.
Suddenly,
Becomes a mud fight about women carrying out old, sick patients from a building.
But does not surprise me.
The old stalwarts of male supremacy.
Are back at full force.

#176 Old Boot on 12.01.22 at 12:48 pm

#147 crowdedelevatorfartz on 12.01.22 at 8:27 am

@#133 IHCTD9
“It’s pretty scary how many folks discount the ultra-massive physical power difference there exists between Men and Women these days. ”
++++

A few year back there was an MMA fight between a transitioned (to female) fighter and another female fighter. ( I dont watch any of that Roman Area crap so I dont know the names of the combatants) .
They were both the same size , weight , etc.

After the fight when the female born fighter was carried from the ring she commented many weeks later in a magazine article.
“Everything was fine until the other fighter grabbed me. I have never felt a grip like that from another female opponent. Unbelievable.”

Greater upper body strength. More bone density. etc etc etc.
Its a fact of life.
Perhaps that’s why I see zero female bricklayers, on very few female steel workers, concrete finishers, etc etc etc.
Dirty, hard, physical labour on a noisy, dirty, dangerous construction site seems to lose its appeal when one is doing it day after day after day after day.
Enjoy the equality of a cold port potty in winter….you’ve EARNED that right!

————–

If men are so stupid as to take on hard, dirty, shitty, cold jobs AND not advocate for their own safety and not demand that their job adopt techniques and technological improvements that make the job safer for both men and women – just to show those weak women who’s boss -, well I guess you can’t fix stupid, can you?

Why do see macho ignorance and as a virtue?

Probably for the same reason you cling to the Disney fantasy of a big, handsome fireman coming to rescue you from your own stupidity. Too many homoerotic subplots have rotted your brain.

#177 Old Boot on 12.01.22 at 1:09 pm

Golly, look at all the men claiming that men aren’t women, yet the resident lefty hysteric isn’t calling them out for it.

Whenever I mention that men can’t ever be women, I get called a hateful transphobe who is literally killing people.

Looks like Faron can tell men and women apart, too. Sounds terfy dude.

#178 Shawn on 12.01.22 at 1:17 pm

Surprised it took until way down in the comments for someone to mention this was Rosie the Riveter.

#148 crowdedelevatorfartz on 12.01.22 at 8:36 am
@#137 Josh Feldman

Its not communist poster.
WWII poster for raising Bonds, “Rosie the Riveter”

**************************
Kids today, sheesh…

#179 Pay gap on 12.01.22 at 1:34 pm

There is a slow movement in society begrudgingly accepting that the pay gap is not mainly due to an evil patriarchy but rather personal decisions and is a complex subject. Women dominate in certain industries – is that an issue that needs fixing? Look at Uber drivers – there is not a more perfect example of an even playing field where both sexes use the same app and the same resources and get paid exactly the same. Regardless, men earn more and the gap is almost 10%. Men drive a bit faster and drive for longer hours. Single women in urban areas actually earn more than men – (for over 20 years now in North America); should society not address that according to the equity doctrine we seem to live under? NY times even has reported on this: https://www.nytimes.com/2007/08/03/nyregion/03women.html

#180 DON on 12.01.22 at 1:34 pm

#174 Habitt on 12.01.22 at 12:34 pm
Wow so many nasty comments towards the ladies. For myself I’m grateful to have them in my life. To those that believe women has no clout and in years past I say remember your grandmother. She wielded respect. Lighten up guys. If we’re half men we assist in any way we can to see the ladies attain their potential. Full stop. We are better at different things. Big friggin deal. Just watch them flourish and their unreal capacity for good. Bless you ladies and thanks for all you do every day.

********
I see it the same way. Thank you to all the good ladies out there.

#181 Old Boot on 12.01.22 at 1:47 pm

#147 crowdedelevatorfartz on 12.01.22 at 8:27 am

@#133 IHCTD9
“It’s pretty scary how many folks discount the ultra-massive physical power difference there exists between Men and Women these days. ”
++++

A few year back there was an MMA fight between a transitioned (to female) fighter and another female fighter. ( I dont watch any of that Roman Area crap so I dont know the names of the combatants) .
They were both the same size , weight , etc.

After the fight when the female born fighter was carried from the ring she commented many weeks later in a magazine article.
“Everything was fine until the other fighter grabbed me. I have never felt a grip like that from another female opponent. Unbelievable.”

—-‐————-

Fun fact: the female fighter wasn’t told she was going to be fighting a male before the fight.

Dana White sand-bagged a female fighter by putting an unannounced, avowed misogynist male with a fetish in the cage with her. But sure, it was the woman’s fault.

Jaysus. So many troglodytes who secretly like seeing women get their heads beat in are allowed to walk among us.

#182 Yer Not Helping on 12.01.22 at 2:02 pm

#176 Old Boot on 12.01.22 at 12:48 pm

If men are so stupid as to take on hard, dirty, shitty, cold jobs AND not advocate for their own safety and not demand that their job adopt techniques and technological improvements that make the job safer for both men and women – just to show those weak women who’s boss -, well I guess you can’t fix stupid, can you?

Why do see macho ignorance and as a virtue?

————————————————-

Nowhere is the fact of mostly men performing the hard dirty manual labour jobs given as a virtue. It’s simply stating a truism that is selectively ignored. As stated, there is more than a whiff of cherry-picking exactly which “benefits” of being a man women claim to want, without addressing the whole picture.

If a man made the same statement you’ve made, but directed it at women being “stupid enough to take on the low-paying teaching and nursing jobs and accepting lower pay without demanding the same as men but I guess you can’t fix stupid” it would rightly be decried as mysogynistic and hateful.

Answering hate with more hate, intolerance with more intolerance with more intolerance, isn’t a solution. Ironically, it’s exactly what your main foil, the resident leftie lunatic, does constantly.

Don’t be as big a hypocrite as he is.

#183 Old Boot on 12.01.22 at 2:06 pm

#179 Pay gap on 12.01.22 at 1:34 pm

There is a slow movement in society begrudgingly accepting that the pay gap is not mainly due to an evil patriarchy but rather personal decisions and is a complex subject. Women dominate in certain industries – is that an issue that needs fixing? Look at Uber drivers – there is not a more perfect example of an even playing field where both sexes use the same app and the same resources and get paid exactly the same. Regardless, men earn more and the gap is almost 10%. Men drive a bit faster and drive for longer hours. Single women in urban areas actually earn more than men – (for over 20 years now in North America); should society not address that according to the equity doctrine we seem to live under? NY times even has reported on this: https://www.nytimes.com/2007/08/03/nyregion/03women.html

———–

Female drivers generally try to avoid male fares, for the obvious safety reasons even if it cuts into their earnings.

As for male drivers, check out the sexual assault stats for male ride app drivers. Maybe some of the dudes aren’t so much harder workers as they just have different motivation to accept fares?

https://www.cbc.ca/radio/asithappens/as-it-happens-friday-edition-1.5387218/3-000-sexual-assaults-reported-in-uber-rides-last-year-the-tip-of-the-iceberg-says-lawyer-1.5387224

https://www.theguardian.com/technology/2022/jul/14/uber-faces-550-passenger-lawsuit-over-alleged-and-assault-in-us

https://www.vox.com/2019/12/7/20998646/uber-safety-report-sexual-assault-lyft-cases

#184 Not JP on 12.01.22 at 2:15 pm

#93 Sail Away on 11.30.22 at 7:49 pm
Gender pay gap?

If that’s the case, why wouldn’t every company hire all women and either lower their fees to be more competitive, or keep the difference and increase their profits?

Questions, questions.

====================

That is exactly what they do. Hire, as best as they can, the most productive person they can for the least amount of money. When your own dollars are at stake, race and gender become substantially less important in the hiring game.

Would you do any different? Would you hire a man over a woman to paint your house if the woman is offering the same work and a better deal? I suppose some people might, but that wouldn’t be very smart. The only reason you might do that is if you thought the woman couldn’t do the job. But painting? I think they can.

Or how about a real estate agent or car salesman? I don’t know the female real estate agents seem to be doing fine around here.

So ya, you probably won’t hire an average woman over an average man to be a bricklayer, because women on average can only move 80% as many bricks in a day as men on average, but what about the 20% of women who can move as many bricks or more than 80% of the men? Yes, those stronger women get hired over the smaller men. If they apply for the job, which they don’t.

Free markets are the great equalizer.

Of course some women will retort that the reason they don’t want to be bricklayers is that the brick laying industry is rife with misogyny. That is probably true, since it is mostly men and men will be boys, assuming the weather and hard work has nothing to do with it. But I wonder if the 20% of women who are stronger than 80% of men really have a problem with misogyny. It is not socially unacceptable for a woman to hit a man if she’s been insulted. Really hard to make those charges stick.

But regardless, you will never see a world where women are represented at 50% in physically demanding work. The average body size favors the men, and at the extremes the strongest woman cannot compete with the strongest man. That’s just what testosterone does.

That’s also why you don’t see women on say any of the world cup teams right now. The dominant US women’s team is strangely absent. The current Canadian world champions are also absent. Not even one player from their teams made their respective men’s squad. And it’s not because the men wouldn’t take them if they could contribute to a win, they sure would. They will do anything that’s legal and anything illegal they can get away with to win. That’s how top level sports work. But we know from experience that the best women’s soccer team in the world plays at about a U15 tier 1 level on the men’s side. On the other hand transwomen who were fairly mediocre when they played men’s sports often make the news for dominating on the women’s side.

Perhaps one day with robots and such we will reach a utopia where physical capacity has no bearing on wages in any trade, but we aren’t there yet. And to me it is not a strange coincidence that where the wage gap does still exist, i.e. in comparing dissimilar work, the wage gap is strangely close to the physical gap. Muscles still matter.

In professions where muscles don’t matter, like STEM, women are making inroads and they do get paid as much as men, correcting for time off. But there are only so many of those jobs, and only so many people of either sex that can actually do them. Here we run into the “IQ” gap. There doesn’t seem to be any difference between the sexes in terms of IQ, or maybe it even favors women a bit. But in terms of whether the average man or woman can learn to code, or become a doctor, or an engineer, the answer is no. At best only 10% of the population is even capable of passing the calculus and other courses, both men and women. Thus, both men and women who can “code” tend to get paid more than bricklayers.

So in short, there is inequality everywhere, but more of it is a result of genetics than policy, at least in Canada.

And I don’t think that is going to change until we’ve abolished physical labor. Sure, in the socialist utopia, bricklayers would get paid the same as computer programmers or family doctors. But that would mean many women supporting many men financially. And that is when women suddenly start voting conservative.

#185 Sail Away on 12.01.22 at 2:19 pm

Let’s look at the gender thing in more detail… and, at the same time, see if we can get Tatiana over 200 comments, which is more than Ryan, Doug or Sinan have yet achieved.

Tatiana for the win! Get aggressive, Tatiana, and leverage this Turner Investment milestone for a big bump.

Speaking from family experience… the extended SA dynasty has many women who have done very well… but their path is different than the men. First, identify an area where customers are either equally or predominantly women, then start a company catering to that demographic, hire women and simplify their lives so they can concentrate on work. Alternatively, leverage the push for diversity.

Example 1: a relative in Alberta started a female-only accounting firm, turned the downstairs into a fully-staffed daycare, and the rest is history. Now they own a mansion and half of Red Deer. Dharma, let me know when you’re looking for a property there.

Example 2: 30 years ago, a friend in Squamish started a RE firm after many of her female friends requested she do so. She’s hired female agents, and their client base is largely women. Successful? Dang right. A keystone in her success is contacts from the 9:30am weekday yoga class. Brilliant.

Example 3: A now-32 yo cousin was a pilot with the family bush plane operation and leveraged that at age 25 for a job with Air Canada where she is now a full pilot with unparalleled job security and making serious bank. Her entry was at a perfect time for diversity and advancement has been profound.

#186 Penny Henny on 12.01.22 at 2:25 pm

Old Boot on 12.01.22 at 11:37 am

No ambulance carries a WWII-era stretcher my dude, and no FD has 5 hosers on the truck. Lie better.
//////////////

Not a lie.
Maybe Toronto Paramedic services and TFD is different than where you are from.

#187 Wrk.dover on 12.01.22 at 2:29 pm

Of the 77% most are men.

My head hurts.

How do you cope Garth?

#188 Old Boot on 12.01.22 at 2:36 pm

#183 Sail Away on 12.01.22 at 2:19 pm

Let’s look at the gender thing in more detail… and, at the same time, see if we can get Tatiana over 200 comments, which is more than Ryan, Doug or Sinan have yet achieved.

Tatiana for the win! Get aggressive, Tatiana, and leverage this Turner Investment milestone for a big bump.

Speaking from family experience… the extended SA dynasty has many women who have done very well… but their path is different than the men. First, identify an area where customers are either equally or predominantly women, then start a company catering to that demographic, hire women and simplify their lives so they can concentrate on work. Alternatively, leverage the push for diversity.

Example 1: a relative in Alberta started a female-only accounting firm, turned the downstairs into a fully-staffed daycare, and the rest is history. Now they own a mansion and half of Red Deer. Dharma, let me know when you’re looking for a property there.

Example 2: 30 years ago, a friend in Squamish started a RE firm after many of her female friends requested she do so. She’s hired female agents, and their client base is largely women. Successful? Dang right. A keystone in her success is contacts from the 9:30am weekday yoga class. Brilliant.

Example 3: A now-32 yo cousin was a pilot with the family bush plane operation and leveraged that at age 25 for a job with Air Canada where she is now a full pilot with unparalleled job security and making serious bank. Her entry was at a perfect time for diversity and advancement has been profound.

————–

I’m certainly doing much of the heavy lifting necessary to get Tatiana over the 200 comments mark ;)

Good points demonstrating the need for women to work smarter. “The slave will never defeat the master by using the master’s tools.”

Let the men do the grunt work in the cold and dirt until it finally dawns on them that they’re only proving that they’re not very bright.

Women will be in the cockpit, ensconced in ergonomically designed chairs, babies well cared for, fresh cup of tea at the ready, whilst TCOB.

#189 MRT on 12.01.22 at 2:56 pm

For a poetic description of a wise woman, read Proverbs 31:10-31.

A powerful wife, engages in commerce, able in business and reinvests her earnings. Husband removed from home affairs. Those who lay hold of wisdom are called ‘blessed’.

#190 Russ on 12.01.22 at 2:57 pm

.
‘ not wishing to close commnets at less than 200 but can we agree on the general steerage position that in order to close the pay gap between men & women that:

– women need to move into the jobs that pay more or negotiate higher pay for exisiting work

– women need to work more hours, which may mean taking less time off for babies, etc.

– men should move into less dangerous work or less appealing work and put in fewer overtime hours?

Got it!

Cheers, R

#191 Ustabe on 12.01.22 at 4:37 pm

You know, if you take half of the comments today and substitute the word Jew or Nigerian for the word woman…well just maybe you’d realize how out of touch a large number of you are.

Self defined bubbles to live in I suppose. I feel sorry for the women in your lives, workmates or partners.

#192 Habitt on 12.01.22 at 5:20 pm

180 Don thanks you as well Tatiana. Ya got people thinking. Well done.

#193 Phylis on 12.01.22 at 8:22 pm

#22 Stuck in Richmond on 11.30.22 at 2:56 pm
Ask an average woman how many pairs of shoes she has, and compare to average man.
Xxxxxxxxxx
Hmmmm, a shoe etf.?!?

#194 Mike on 12.02.22 at 9:56 am

Thanks for the post, Tatiana. Keep it up. We outnumber the haters.

#195 Wonderwomyn on 12.02.22 at 3:15 pm

Thank you for the post Tatiana.
Tragic that so many in the comment section feel threatened. If only their egos would step out of the way they might learn something.