Advisors give their top 10 recommended reads, from oldies but goodies to today’s hot bestsellers.Lawrence Sawyer/Getty Images/iStockphoto
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Alexandra Horwood is every publisher’s dream. The portfolio manager and investment advisor with Alexandra Horwood and Partners at Richardson Wealth Ltd. in Toronto, admits to spending thousands of dollars on books each year, reading dozens herself – but also ordering armloads online to send to clients.
Giftwrapped and everything.
But these aren’t random picks. During client chats, Ms. Horwood turns to the bookshelf behind her desk routinely, grabs a relevant tome, holds it out and asks the client if they would read it.
“If they say, ‘Yeah, I’d love that,’ then I literally e-mail my assistant and say, ‘Send a copy of this book to their house,’” Ms. Horwood explains.
Not only does it usually arrive the next day, but delivery can be free and there’s little work involved beyond click and send.
“It’s easy and impactful – and it shows I’m paying attention to what they’re telling me,” she says, going on to explain that having clients read the books also puts them on the same page as her.
“I want to impact their thinking and psychology around investments, wealth, their future and what they want to achieve.”
While not exactly the same as kicking back with the latest Emily Henry rom-com or a Jon Krakauer adventure chronicle, digging into a valuable financial book can be perfect for clients’ lazy summer days when there’s more time to read and reflect on big-picture goals.
Globe Advisor asked five advisors – Ms. Horwood, Jenna Wilmot-Anderson, financial advisor at Wilmot Financial Services Inc. in Fergus, Ont.; Ivan Arturo, certified financial planner (CFP) with IAB & Associates Financial Solutions at Sun Life Financial Inc. in Richmond Hill, Ont.; Alysha To, senior financial planner with Chernick & Associates Wealth Management Group at Richardson Wealth in Vancouver; and Andy Kovacs, CFP with Moments of Truth Insurance Services Corp. at Sun Life, in Markham, Ont. – to weigh in on what’s worth a look this sweltering season.
Here are their top 10 recommended reads, from oldies but goodies to today’s hot bestsellers.
The Defining Decade: Why your Twenties Matter – and How to Make the Most of Them Now,by Meg Jay
Talking to clients’ teens and young adult children about money is important for building the family relationship, but it’s not exactly lucrative in the short run. Do the kids a solid and pass this book into youthful hands with one directive: Read it. Forget today’s swirls of TikTok misinformation, this book offers tested advice for everything from finding the right job to getting into a saving routine and purchasing real estate. The Defining Decade is about building a strong foundation for a lifetime of wise financial decisions.
The Psychology of Money: Timeless Lessons on Wealth, greed and Happiness, by Morgan Housel
Don’t be surprised if someone recommends this book to you, which teaches readers how psychology, luck, risk and behaviour intermingle. It seems to be everywhere. No wonder a few of our advisors have it on their reading list. The author shares 19 short stories outlining how and why people make financial decisions. The takeaways are fascinating.
The Wealthy Barber Returns: Dramatically OlderandMarginally Wiser, by David Chilton
Speaking of classics, after publishing the juggernaut The Wealthy Barber independently, which sold more than two million copies in Canada, Mr. Chilton gave the beloved book this update. New advisor Ms. Wilmot-Anderson loves that it eschews a get-rich-quick mentality in favour of playing the long game – and it gives her pointers on how to explain complex financial concepts in simple, jargon-free language to clients.
Wealth Planning Strategies for Canadians, 2023, by Christine Van Cauwenberghe
According to Ms. To, this newly updated guide is “a must-read for anyone seeking to make informed decisions about their financial future.” This edition breaks down advice and information into life stages – single, married, parenting children, a transition to retirement and eldercare. Real-life examples and case studies help complex concepts stick.
How Not to Move Back in With Your Parents: The Young Person’s Complete Guide to Financial Empowerment, by Rob Carrick
“I’ve got to give a shout-out to The Globe’s Rob Carrick” says Mr. Kovacs who recommends this book for the boomerang generation stumbling under the weight of student loans and out-of-reach mortgages while attempting to launch careers. Rather than leaving parents out of the equation, Mr. Carrick wisely gives advice to both generations, encouraging them to see eye-to-eye in troubling times.
Don’t Worry, Retire Happy!: Seven Steps to Retirement Security, by Tom Hegna
American public television darling Tom Hegna gives solid advice in this concise book that outlines seven steps to retirement security. While harder to find in hardcopy these days, the e-book is worth checking out, particularly for its surprising advice on building predictable income streams after retirement.
Moneybunnies series, by Cinders McLeod
Do clients have little ones at home? This well-received and charming series of financial literacy picture books for children aged three to eight is as age appropriate as they come. Canadian Ms. McLeod, a former newspaper cartoonist and art director, crafts four books, Earn It!, Spend It!, Save It!, and Give It! that teach concepts like patience, hard work and philanthropy without moralizing.
The Slight Edge: Turning Simple Disciplines into Massive Success and Happiness,by Jeff Olson
While not strictly a financial book, this 2013 volume teaches readers how putting energy into something consistently over time can reap surprising results. For advisors who work with clients who have difficulty reining in spending or visualizing retirement decades into the future, The Slight Edge will help them focus on simple, daily choices.
Kids, Wealth and Consequences: Ensuring a Responsible Financial Future for the Next Generation, by Richard Morris and Jayne Pearl
Wealth advisors working with high-net-worth and ultra-high-net-worth clients know how sticky parenting decisions can be for this set. Just because money is no object doesn’t mean they should buy that BMW i8 for their teen, right? And let’s not get started on passing wealth down to younger generations. That’s a minefield. Luckily, Kids, Wealth and Consequences covers it all. Gift this book and be prepared for clear-eyed conversations.
Willing Wisdom: 7 Questions Successful Families Ask,by Thomas William Deans
Struggling to incorporate legacy planning with some clients? Willing Wisdom provides a structure for having meaningful conversations about wealth and inheritance with loved ones. The author’s approach emphasizes nurturing relationships, Ms. To says, reminding us that wealth management isn’t just about money, “but also about maintaining family harmony and building a lasting legacy.”
With increased adoption of cryptocurrencies and proliferation in the online gaming industry, Bitcoin casinos are becoming increasingly common. Bitcoin, being one of the alternative currencies, may offer immense advantages in security, anonymity, and speed of every transaction, from appealing to new and seasoned players. The following article will outline the main benefits of using Bitcoin for online casino betting and will describe in detail how this cryptocurrency enhances gaming.
For those interested in exploring the benefits of Bitcoin gaming, theonlinecasinos offers a carefully curated list of reliable Bitcoin casinos. Their guide helps players find the best options available, ensuring a seamless, secure, and rewarding gaming experience.
1. Speed of Transaction
The main benefit linked to the use of Bitcoin in online casino betting is that it possesses high transaction speed. Unlike the bank transfers and card payments, which take several hours or even days, Bitcoin transactions take just minutes.
Why does this matter?
Fast transactions equal the ability for players to fund their accounts straight away with no need for confirmation. Since some gamers just want to get started immediately, or just simply cash out and go, this can come pretty in handy. While most bank transfers involve verification by means of a financial intermediary that is likely to be slow, Bitcoin involves a decentralized network of computers handling processing without any interference from an intermediary.
2. Savings on Fees
Deposits and withdrawals have made it possible for players to cut down or totally eliminate fees imposed by financial institutions through Bitcoin. Banks, credit organizations, and networks of all kinds impose a fee on any transaction, but especially international ones. Due to the fact that this is a network where users make transactions directly, the network fees for Bitcoin are minimal.
How Does This Affect Players?
The lower fees translate to savings that the player will make every time a transfer is made. There are some online casinos that absorb even this negligible Bitcoin network fee; thus, this makes deposits and withdrawals absolutely free for players. To players usually performing lots of transactions or large quantities, this difference in fees may prove critical.
3. Improved Security and Data Protection
Bitcoin uses blockchain technology, one of the most secure and transparent systems in the world. All the transactions involved in blockchain are encrypted; hence, fraud and hacking have almost nil chances of being performed. Furthermore, there is no necessity for sharing personal data while using Bitcoin for online betting as your card number or bank details will not come into play.
Anonymity and Privacy Protection
In the case of Bitcoin, players can preserve anonymity, since for a transaction, one needs only a Bitcoin address. Hence, Bitcoin casinos are true Catch-22 for those who value privacy in financial operations and want to avoid unnecessary checks from banks and other institutions.
4. Fewer Restrictions and Regulations
A lot of countries ban gambling or strictly regulate any operations including online casino transactions. This may raise serious barriers for players to access their favorite platforms or even to get accounts suspended. Bitcoin transactions do not go through the banking system and therefore are not regulated like traditional money. This means greater freedom for users.
Benefits to International Players
For players whose countries have restricted gambling, Bitcoin is an easy way around any legal restrictions. For people in countries with unfinished developed banking or those, due to which one can’t access every type of payment, Bitcoin casinos are a great way to access different kinds of bets.
5. Bonuses and Special Offers for Bitcoin Users
Most online casinos welcome the use of Bitcoin by giving bonuses for cryptocurrency choices. In many cases, higher welcome bonuses, cashback on deposits, free spins within the slot machines, and others are common.
How Does This Benefit Players?
The Bitcoin bonus can increase the player’s budget very much and bring extra value to players. Online casinos are happy to see this cryptocurrency, as it cuts some transaction processing costs for them, either. Because of that, promotion activities targeting depositors and withdrawers of Bitcoins can be regularly found.
6. Bitcoin for Gaming Bankroll Management
Being a cryptocurrency, Bitcoin allows players to have flexible banking of their bankroll. Many users keep their winnings in the form of Bitcoins, since it can surge in price. This adds the opportunity to earn extra income from its volatility when Bitcoin prices surge upwards.
Example of Bankroll Management
Using Bitcoin Many players keep their winnings in Bitcoin, due to the fact that its price might go up. In this case, casino winnings create passive income. But one should keep in mind that Bitcoin’s price also goes down, so this strategy is to be used with care.
Financial independence is an important component of success. To avoid wasting everything, you need to be able to save and invest. Thanks to this, it will be possible to create a financial cushion. You can get additional income with the help of brokers. Every adult can register on the Trade-X website and start trading activity. The latter is based on the conclusion of transactions for the purchase and sale of material values, currency, contacts and shares of well-known companies. As reviews show, the broker sets a minimum commission and charges the trader a certain amount after a successful profit. With the right approach and the ability to analyze data, the trader receives a tangible profit from his deals.
Let’s consider what the trader’s work is and read the real comments of Trade-X clients.
Recommendations and reviews about Trade-X
Choosing a source of income, many people monitor websites and look for what they write about the broker in reviews. After all, safety on the Internet, especially when entering your personal data and bank cards is very important. Newcomers who are just entering the market are especially concerned. It is known that the Trade-X company is officially registered in London and acts according to the legislation. It carries out work with an exchange expert and a hedge fund, has more than 200 assets. Trading conditions, including commissions and spreads, are transparent, which does not allow the broker to change them in its favor.
Participants of Medium, Linkedin, Reddit platforms often write good reviews that no fraudulent schemes were observed on the sites, and the support service always responded quickly to questions and any difficulties, if they arose. The broker company has an arsenal of trading tools, signals and training materials, where everyone can understand the nuances of the profession for free. The reviews also say that the terminals work well without delays, price movements are displayed on the charts. By the way, you can monitor the status of the launched order both from your computer and from your phone by installing the Trade-X broker application.
Features of cooperation with the provider of trading platforms
The provider offers trading platforms with access to many financial instruments. It is a kind of analytical center with access points to currencies.
The following are the features of operations:
Ease of management of the personal account and the site as a whole for novice depositors and professionals.
Analysis tools: different timeframes, indicators and analytical tools, which simplifies predicting and planning transactions.
Minimal costs. Trade-X brokers provide competitive spreads on major assets, as well as no commissions for certain types of accounts, which can be beneficial for traders with frequent trades.
24/7 market access: support for 24/7 trading, especially for cryptocurrencies and some international markets.
Margin trading and leverage: Trade-X offers leverage to help increase trade volume, although it also increases risk.
Automation and trading robots: integration with trading robots and algorithmic systems is supported, allowing for automated trades.
Security: state-of-the-art technology to protect funds and data, such as encryption and two-factor authentication.
Training and support: video tutorials, personalized mentoring, group webinars, literature.
Access to the platforms is open to adults who have completed the registration and document verification process. The minimum deposit is 500 dollars. After depositing this amount, you can start investing in any asset. You can follow the course of events by connecting to mobile Internet from anywhere in the city and even in the country. They write in the reviews that it is very convenient. The international resource Trade-X operates in 197 countries, so entry is free for those wishing to invest in the most popular resources. In case of difficulties with authorization, you can use the site mirror or connect VPN services.
What to trade on Trade-X site
More than 200 assets are presented on the site. It is easy to get confused when choosing from such an arsenal. However, experienced participants of the investment market recommend choosing currency pairs. In any case, it is necessary to be aware of possible rate drops or growth. You can learn this from the news, the current chart and your observations.
The most common trading options on the Trade-X website:
Currency pairs, which are the ratio of the prices of two currencies.
Resources: gas, oil, ores, metals.
Stocks: a share of ownership in a company.
Futures: a contract on future purchase.
Trading on the stock exchange for beginners most often starts with currency pairs – they seem more familiar, clear and predictable. It is not difficult to calculate the dynamics of quotations with the large availability of tools and comprehensive assistance from the administration. Visual representation of price movements is significant for a trader, and the latest news in the world economy provides an additional stimulus for correct calculation of ask and bid.
Trade-X services have long been considered the gold standard of the industry. Since its foundation, the online broker has not stopped its development even for a day or an hour. Its services are becoming more and more technological and interesting for users. This allows to get a significant increase in the client base. Positive reviews allowed the company to stand out among other trading platforms, and assigning a personal manager to you will allow you to feel more confident if you are just at the start of trading.
NEW YORK (AP) — Shares of Tesla soared Wednesday as investors bet that the electric vehicle maker and its CEO Elon Musk will benefit from Donald Trump’s return to the White House.
Tesla stands to make significant gains under a Trump administration with the threat of diminished subsidies for alternative energy and electric vehicles doing the most harm to smaller competitors. Trump’s plans for extensive tariffs on Chinese imports make it less likely that Chinese EVs will be sold in bulk in the U.S. anytime soon.
“Tesla has the scale and scope that is unmatched,” said Wedbush analyst Dan Ives, in a note to investors. “This dynamic could give Musk and Tesla a clear competitive advantage in a non-EV subsidy environment, coupled by likely higher China tariffs that would continue to push away cheaper Chinese EV players.”
Tesla shares jumped 14.8% Wednesday while shares of rival electric vehicle makers tumbled. Nio, based in Shanghai, fell 5.3%. Shares of electric truck maker Rivian dropped 8.3% and Lucid Group fell 5.3%.
Tesla dominates sales of electric vehicles in the U.S, with 48.9% in market share through the middle of 2024, according to the U.S. Energy Information Administration.
Subsidies for clean energy are part of the Inflation Reduction Act, signed into law by President Joe Biden in 2022. It included tax credits for manufacturing, along with tax credits for consumers of electric vehicles.
Musk was one of Trump’s biggest donors, spending at least $119 million mobilizing Trump’s supporters to back the Republican nominee. He also pledged to give away $1 million a day to voters signing a petition for his political action committee.
In some ways, it has been a rocky year for Tesla, with sales and profit declining through the first half of the year. Profit did rise 17.3% in the third quarter.
The U.S. opened an investigation into the company’s “Full Self-Driving” system after reports of crashes in low-visibility conditions, including one that killed a pedestrian. The investigation covers roughly 2.4 million Teslas from the 2016 through 2024 model years.
And investors sent company shares tumbling last month after Tesla unveiled its long-awaited robotaxi at a Hollywood studio Thursday night, seeing not much progress at Tesla on autonomous vehicles while other companies have been making notable progress.
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