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Financial planner and money coach Michelle Robertson left corporate life to teach women about money. Here’s what she learned for herself.
Math is taught in school, but finances? Not so much. Michelle Robertson is good at math, especially accounting. She became a Canadian Chartered Professional Accountant and has worked for PwC, the Globe and Mail and the PanAm Games. But she admits she “lived beyond” her means, “paycheque to paycheque.” When enough was enough, she got out of debt—fast!—and grew her investments to over seven figures. Now as a digital nomad and real estate investor, Robertson teaches women how to manage their own finances at her own company Ms. Money and Math, as a Qualified Associate Financial Planner, having since added QAFP after CPA. The keynote speaker and mindful money coach sits down to answer My MoneySense questions about how money affects her and her life.
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I don’t have any famous ones really. I have a few investor friends that have built eight-figure real estate portfolios and worked themselves out of their full-time jobs.
At my cottage by the lake, riding my bike, catching sunsets, hiking with my dog.
The same thing, I just wouldn’t be renting. I’d own my house, my cottage would be fully renovated, and I’d be travelling a bit more: Three months in South Africa during the winter and my dog would come, too, flying in the cabin with me.
Receiving an allowance for doing chores around the house. I remember that you had to work for money.
Candy.
I think I babysat first and then I worked at the library. I was the loudest chatterbox working at the library.
Start investing early and stay out of debt from credit cards.
Spend less than you make and prioritize investing early and consistently and planning retirement will be a breeze.
Buy mutual funds using a financial advisor.
Larger sum all at once every time! I’m confident about making it grow.
Time. Time is the single most important factor to building wealth. The amount of time you have in the market, not the amount of money or finding a stock that will grow by 700%.
I didn’t really prioritize investing at a younger age, and I sold my Toronto condo. I was renting it out, and I thought having the $100,000 of equity to put towards my house renovations was a great idea when I could have had someone else continue to pay that mortgage while the value of it continued to grow. Investing is a long term game and I wish I’d been more patient.
Business class travel, especially on long haul flights.
Probably a car or a condo. I typically don’t take very long to make decisions.
There is good debt—and it can be used as leverage—and there is bad debt. Understand the difference and avoid bad debt.
A stylist to refresh my wardrobe and outfit me for a speaking engagement.
Quit Like a Millionaire: No Gimmicks, Luck, or Trust Fund Required (July 2019, Penguin Random House Canada). It’s an inspiring story, written by Canadians. I read it like a novel in about five days. There’s lots of useful info on how to build your portfolio even if you are not chasing FIRE (financial independence retire early).
A crystal that carries “energetic abundance.”
To buy a house that I can live in again and rent a portion of.
My cottage.
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It depends. I prefer to own because I love creating and designing spaces that I love living in. I like having a project. But sometimes renting just makes sense.
Buy.
Invest.
Budget.
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