Once you achieve Financial Independence, you may choose to leave salaried employment but with decades of vibrant life ahead, it’s too soon to do nothing. The new stage of life between traditional employment and Full Retirement we call Victory Lap, or Victory Lap Retirement (also the title of a new book to be published in August 2016. You can pre-order now at VictoryLapRetirement.com). You may choose to start a business, go back to school or launch an Encore Act or Legacy Career. Perhaps you become a free agent, consultant, freelance writer or to change careers and re-enter the corporate world or government.
Canadians in retirement, or those nearing retirement, are faced with unique challenges in the present-day market. Interest rates have moved up from their historic lows since 2022. The benchmark rate for the Bank of Canada (BoC) reached its zenith of 5.00% in July 2023.
Economic headwinds forced the hand of the BoC in 2024 and 2025. The benchmark rate now sits at 2.75% as of July 7, 2025. More rate cuts are expected before the end of the year. This downward trend for interest rates means that investors who want a secure investment while outpacing inflation may have to look beyond GICs and other fixed-income products in this changing climate. Market volatility is another headwind investors are now contending with, spurred on by a new and aggressive U.S. administration.
There was enthusiasm surrounding the broader economy and the stock market coming into 2025. The previous GOP administration cultivated a reputation as a market-friendly one in the late 2010s. That momentum ground to a halt due to the COVID-19 pandemic, but the perception of a market-friendly GOP largely remained.
Investor sentiment soured in the spring, in large part due to the uncertainty surrounding U.S. government policy, particularly when it comes to trade. Trade tensions have remained elevated, but sentiment has improved into the summer as markets have normalized.
Uncertainty in the spring contributed to elevated levels of market volatility. Some names suffered steep retracements in the first half of April. However, the 90-day pause announced on tariffs led to a dramatic reversal. That led to a rapid recovery for the broader U.S. market. Despite the improved conditions, this market is unique in that lingering trade policy uncertainty is fueling negative sentiment. Headline risk will continue to be elevated through the second half of 2025.
A research note from Vanguard earlier this year speculated that volatility was likely to remain. This is due to factors like policy uncertainty, disruptive currents in the economy like Artificial Intelligence development, and the shifting policy of the Federal Reserve.
Demand for Low Volatility products has increased in this environment. These ETFs offer Canadian retirees a pure low-volatility play with exposure to 100% Canadian equities.
Harvest Low Volatility ETFs: A Smoother Investment Experience
Harvest’s new Low Volatility ETF suite may be appealing to defensive and long-term investors. This approach to equity investing is factor-based, disciplined, outcome-oriented, is designed to mitigate risk, as well as provide long-term growth. Moreover, the suite includes a high-income solution that generates monthly cash distributions through an active covered call writing strategy.
Low Volatility strategies can outperform in bull or bear markets. They follow a portfolio construction and investment strategy that is built to limit downside while capturing the upside. Investors can capture gains more efficiently by minimizing risk during periods of market turbulence.
The Harvest Low Volatility Equity ETF (HVOL:TSX) holds 40 top Canadian equities. These equities will be ranked and weighted by their risk score and market cap weight, with a 4% maximum weight per name. HVOL’s Canadian equities are scored according to risk and fundamental metrics.
Low Volatility – Portfolio Construction
Source: Harvest Portfolios Group, Inc. April 2025.
Low-volatility strategies have existed in the market since the 2007-2008 financial crisis. However, these strategies have typically followed a generic approach.
The Harvest approach utilizes multiple risk metrics to achieve its stated goals. These include Beta, Volatility, and fundamental analysis. Harvest emphasizes a robust portfolio construction to achieve a defensive low volatility portfolio and superior upside capture. Continue Reading…
Discover practical strategies for achieving Financial Independence beyond the confines of a traditional job.
This article presents expert-backed advice on creating multiple income streams and aligning work with personal goals. Learn how to leverage your skills, build value-based income, and take concrete steps towards your vision of financial freedom.
Leverage Your Skills for Side Income
Transform Evenings into Venture Capital
Build Value-based Income Streams
Adopt a Side Hustle Mindset
Future-Proof your Professional Value
Align Work with your Core Purpose
Build a Financial Foundation first
Get Specific about your Goals
Cut Expenses to Create Options
Leverage your Skills for Side Income
In today’s evolving job market, many professionals find themselves tethered to traditional 9-to-5 roles: secure, yes, but often creatively or financially stifling. The desire for financial freedom is not just about escaping the office; it’s about reclaiming time, purpose, and the ability to design life on your own terms. We’ve worked with countless individuals who once felt exactly this way: stuck, uncertain, but ready for a change.
If you’re feeling trapped in a conventional job, the most important first step is to acknowledge that your desire for more isn’t selfish: it’s strategic. Financial freedom isn’t just about money; it’s about choices. And that journey starts by understanding your own value in the marketplace.
Step 1: Audit Your Skills and Strengths
Take stock of what you’re naturally good at and how those skills can translate into high-demand, high-autonomy industries. Digital skills like coding, copywriting, digital marketing, or consulting are especially valuable in today’s freelance and remote economy. Ask yourself: If I had to solve someone’s problem for a fee: what could I offer today?
Step 2: Start a Low-Risk Side Income Stream
This doesn’t mean quitting your job immediately. Start small: freelancing on Upwork, tutoring online, offering resume reviews, or starting a blog or YouTube channel around a niche you know well. Build proof of concept without jeopardizing your current income.
Step 3: Invest in a Career Coach or Mentor
Working with a coach can help you shortcut the confusion. We help clients identify the right path forward based on their lifestyle goals, not just job titles. Our structured guidance has helped people launch side businesses, shift into more flexible roles, or double their income by making strategic pivots.
According to a 2024 report by LinkedIn Workforce Insights, over 60% of professionals under 40 are actively seeking roles that offer greater flexibility and autonomy. Additionally, Harvard Business Review found that professionals who pursue “career portfolios” — multiple income streams from various skill-based services — report 43% higher job satisfaction and 31% faster income growth than peers in static roles.
Feeling stuck isn’t the end of your story: it’s a signal. A signal that you’re ready for change. We believe that financial freedom isn’t just for the lucky few—it’s for anyone willing to make bold, informed moves. — Miriam Groom, CEO, Mindful Career inc., Mindful Career Coaching
Transform Evenings into Venture Capital
If you’re feeling stuck in a traditional job and craving more financial freedom, you’re not alone: and you’re not broken. That restless feeling? It’s your internal compass telling you that what you’re doing no longer aligns with where you want to go. My advice? Don’t silence it: study it.
The most powerful first step I ever took was treating my evenings and weekends like venture capital. Instead of doom-scrolling or complaining about my 9-to-5, I built skills that made me valuable outside of it. I didn’t quit blindly. I audited my strengths, explored high-leverage models like consulting and digital products, and tested small bets until one clicked. It was less about passion and more about leverage: where can I help people, solve problems, and get paid well for it?
If you’re after financial freedom, don’t chase quick wins. Chase agency. Build something that compounds. Start by learning one monetizable skill: something you can offer tomorrow. Package it, test it, refine it. You don’t need to be loud online or have a business plan that wins awards. You need to take the first step: and then the next.
What I’ve learned from growing multiple businesses and coaching founders is this: freedom doesn’t arrive fully formed. It’s built in the margins before it becomes the main thing. So if you’re reading this wondering if it’s too late or too risky: it’s not. Your current job might pay the bills, but it doesn’t have to define your ceiling. — John Mac, Serial Entrepreneur, UNIT
Build Value-based Income Streams
If you feel stuck in a traditional job, it’s because your income is locked to your hours. Financial freedom begins when you earn based on value, not time. The fastest path is building a side income that proves you’re worth more than your salary. That means selling a skill — marketing, coding, design, sales strategy — directly to people who need results, not resumes.
I replaced my paycheck by packaging my experience into targeted offers. One client became two. Two became four. The process wasn’t complicated. I identified a problem, built a simple solution, and sold it. The first $1,000 didn’t change my life. It changed my mindset. From there, scaling was execution, not hope.
Most people stall because they’re waiting for the perfect idea or ideal conditions. Neither exists. Start by solving one problem for one customer. Build income that’s not tied to your boss. Cut costs, track results, and reinvest profits. Don’t romanticize the idea of freedom. Make it measurable. Give yourself a deadline to match and then exceed your job income.
You’re not trapped. You’re unproven. The solution isn’t to quit. The solution is to validate your value outside the structure you’ve been conditioned to depend on. You move forward the moment you stop waiting. — Steven Mitts, Entrepreneurial Coach, Steven Mitts
Adopt a Side Hustle Mindset
Traditional jobs are great for many reasons, but I completely understand. I was stuck in a normal or traditional 9-5 job, and the only thing I was dreaming about was freedom. This feeling is more common than you might think, so anyone who is experiencing it, you are not alone. The best advice I can offer is to change your mindset, more specifically, to adopt a side hustle mindset.
Think about what you currently have in your job: stability, which hopefully provides a decent income. This is a huge asset. Use this stability to your advantage; don’t think of it as a cage, but rather as your investment stream to financial freedom. Then, make a list of the skills you have, things that you like (passions) that could be monetized, or if you’ve noticed a problem that many people experience and you may have the solution, it could be your golden ticket.
Once you have your idea, don’t quit your day job. Dedicate a small but consistent chunk of your time each week to your new adventure (5 hours to start with will do). When it comes to the steps I’d recommend you take, there is only one: validate your idea. Do your research; you don’t want to waste countless hours on something that is already thriving. Once validated, begin your journey. Draw up a business plan, get a name (register it), open a bank account (do not use your personal one), then start. Take that first bold step. It is incredibly exciting, and it can induce a whole heap of fear, but you will never know if you don’t take it.
My encouragement is this: every great entrepreneur started with a tiny step. No one jumps into success; it is built from the ground up. — Aiden Higgins, Senior Editor and Writer, The Broke Backpacker
Future-Proof your Professional Value
Honestly, the biggest shift for professionals feeling trapped isn’t just leaving a traditional role: it’s strategically future-proofing their value. Research shows 65% of workers who feel ‘stuck’ actually suffer from skill obsolescence, yet those who dedicate just 5 hours weekly to learning in-demand capabilities like automation fluency or data-driven decision-making see a 47% faster transition to higher-paying, flexible roles.
Start by auditing daily tasks for automation potential: this reveals immediate efficiency gains and highlights valuable skills to develop. Platforms offering certified, applied learning in operational tech turn that insight into tangible leverage. That frustration? It’s actually a compass pointing toward untapped potential.
Financial freedom isn’t about escaping the grind; it’s about equipping yourself to command the work that matters. Every expert was once someone who decided their growth couldn’t wait for permission. — Anupa Rongala, CEO, Invensis Technologies
Align Work with your Core Purpose
First, define your freedom.
I’ve sat across from many successful people who feel completely trapped by their traditional jobs. My advice is always to stop focusing on the financial spreadsheet and start with a psychological one. The feeling of being “stuck” is rarely about money alone; true freedom comes from aligning your work with your “why.” Continue Reading…
What does a diversified portfolio look like? A well-diversified portfolio balances risk by spreading investment holdings out across industry sectors and more
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What does a diverse portfolio look like? It’s a question we hear often from the Pat McKeough Inner Circle. We believe a well-diversified portfolio has a few specific qualities, including holdings spread out across most if not all of the five main economic sectors, geographic diversification, both conservative and more-aggressive holdings, and both market leaders and laggards. These asset allocation strategies help ensure long-term stability.
All in all, you will improve your chances of making money over long periods, no matter what happens in the market, if you diversify your holdings as we recommend, and so successfully answer the key question: what does a diverse portfolio look like?
What does a diversified portfolio look like? Holdings in the five main sectors
As we recommend to the Pat McKeough Inner Circle, we believe you spread should your money out across most, if not all, of the five main economic sectors: Manufacturing & Industry; Resources & Commodities; Consumer; Finance; and Utilities.
Here are some tips on diversifying your stock portfolio by sector:
When it comes to answering the question what does a diverse portfolio look like? remember stocks in the Resources and Manufacturing & Industry sectors expose you to above-average share price volatility.
Stocks in the Utilities and Canadian Finance sectors, however, entail below-average volatility.
Consumer stocks fall in the middle, between volatile Resources and Manufacturing companies, and the more stable Canadian Finance and Utilities companies.
Most investors should have investments in most, if not all, of these five sectors to successfully answer the question what does a diverse portfolio look like? The proper proportions for you depend on your investment temperament and circumstances. These asset allocation strategies should be reviewed regularly.
The Pat McKeough Inner Circle, like most conservative or income-seeking investors, may want to emphasize utilities and Canadian banks for their high and generally secure dividends. Regardless, it always pays to look closely at a company’s recent acquisitions and the risk associated with that growth strategy.
More-aggressive investors might want to increase their portfolio weightings in Resources or Manufacturing stocks. However, at the same time, you’ll want to spread your Resource holdings out among oil and gas, metals and other Resources stocks for diversification within the sector, and for exposure to a number of areas.
What does a diverse portfolio look like? Balanced across geography
As it’s a mistake to focus your portfolio on a company that relies on a number of recent acquisitions for growth, one of the worst things you can do is invest so that your portfolio would suffer a great deal due to a localized downturn in any one city, province or state. Good portfolio management also means balancing your investments geographically.
Like the Pat McKeough Inner Circle’s most successful investors, you should avoid focusing your portfolio on any one country or region. And a lower-risk way to add international exposure to your portfolio is to hold multinational U.S. stocks such as, say, IBM, McDonald’s and Walmart. We cover all three of these companies in our Wall Street Stock Forecaster newsletter. Continue Reading…
Investment properties have long been a cornerstone of wealth creation, offering a tangible asset that can provide both ongoing income and long-term appreciation. For individuals mapping out their financial future, the allure of real estate lies in its potential to generate passive revenue streams, act as a hedge against inflation, and build substantial equity over time. Navigating the world of property investment requires careful consideration of market trends, financing options, and management responsibilities, but the rewards can be significant for those who approach it strategically.
Adobe Stock image
By Dan Coconate
Special to Financial Independence Hub
The financial benefits of owning investment properties are multifaceted, primarily stemming from consistent rental income and the gradual increase in property value.
Rental payments from tenants can cover mortgage obligations, property taxes, and maintenance costs, often leaving a surplus that contributes directly to an investor’s cash flow.
Beyond this regular income, the potential for capital appreciation means the property itself can become a more valuable asset over the years. This combination of steady revenue and growth in underlying value makes investment properties a compelling option for diversifying an investment portfolio and securing a more robust financial footing for the future.
Deciding how to secure financial stability during retirement can feel overwhelming, especially when considering long-term strategies. Among the options, investment properties are worth exploring. Whether investment properties can benefit your financial future depends on many factors, but they can offer distinct advantages when managed wisely. Read on to uncover how real estate investments might support your retirement goals and gain key insights into the potential risks and rewards.
Maintaining steady Income through Rental Returns
By renting out an investment property, you can generate monthly cash flow that supplements your retirement savings. This income could cover living expenses or fund unexpected costs in your retirement, creating a layer of financial security. However, you must account for costs like maintenance, management fees, and property taxes so potential rental income remains profitable.
Building Long-term Equity
Real estate allows you to build equity over time when the value of your property increases. Unlike traditional savings or stock investments, properties provide a tangible asset that grows in value as you pay down your mortgage. Equity represents your ownership stake, which you can leverage for financial needs, reinvestment, or even retirement travel plans. Consider the area’s housing market trends before purchasing, which impact a property’s appreciation potential.
Diversifying Retirement Savings
Concentrating all your savings into one type of investment is risky, particularly as you near retirement. Real estate is like a diversification tool, reducing dependency on market-dependent ventures like stocks or bonds. This balance may shield you from financial losses if another investment market fluctuates. Keep in mind, though, that real estate isn’t immune to market downturns. Confirm that the candidate areas and property types you consider align with your financial goals. Continue Reading…
My latest MoneySense Retired Money column looks at a recently launched Retirement Club devoted to Canadians in or near the cusp of Retirement.
Primarily online, Retirement Club was launched by occasional MoneySense contributor Dale Roberts and a partner, Brent Schmidt. You can find the full MoneySense column by clicking on the highlighted headline: Retirement planning advice for people who don’t use an advisor.
Roberts, who once was an advisor for Tangerine, is known for his Cutthecrapinvesting blog and in the U.S. for his contributions to Seeking Alpha. While I have no financial or business interest in the club I did become a member. There are regular Zoom calls where (mostly) recent retirees exchange views on topics like the 4% Rule, RRSP-to-RRIF conversions, ETFs, Asset Allocation in the age of Trump 2.0 and many of the topics this Retired Money column often attempts to tackle.
You can find Roberts’ own announcement of the club – which charges an annual fee of $250 – on my own site earlier in mid-April. (+HST, but it may qualify as an Investment Counsel fee deductible on your personal tax returns). As always check with your accountant, advisor or tax professional).
My initial impression is that the club seems to involve a lot of work for someone who describes himself as semi-retired. But that seems to be par for the course for financial writers approaching retirement. I’m in a similar boat, as is the American blogger Fritz Gilbert, who recently announced the similarly ironic fact that he was retiring from Full-time Blogging about Retirement. (also in April).
Aimed at self-directed investors
In his introduction, Roberts wrote that many of his audience are self-directed investors. That jibes with his site’s campaign against high-fee investment funds, in favor of low-cost index funds or ETFs purchased at discount brokerages. While some, like myself, may also use the services of a fee-for-service advisor, many DIY retirees are in effect running their own pension plans. In theory, one of those much-written-about All-in-one Asset Allocation ETFs can do much of the heavy lifting for such investors, but in practice, there’s a fair bit of anxiety about markets, the Canadian government’s rules about TFSAs, RRIFs etc., Asset Allocation, the ongoing Trump Trade War and much more. So it makes sense to gather in one place and exchange views with others going through a similar process.
In a regular email update to Club members, Roberts explains that “the key concern of Retirement Clubbers is financial security and how to use their portfolio assets in the most efficient and cost-effective manner. That’s why we have a master list of retirement calculators (free and pay-for-service) to test.”
Delaying Government Pensions
As you’d expect, the Club regularly addresses the major chestnuts of Personal Finance as it relates to those within hailing distance of Retirement. The most common ‘Retirement Hack’ espoused by the Club is to delay receipt of the Canada Pension Plan [CPP] and Old Age Security [OAS] past the traditional retirement age of 65 to allow for more generous payouts at age 70. Most club members lean to taking these benefits as late as possible but of course personal circumstances may dictate earlier start dates.
To bridge the income gap (from age 60 to 70 for example) RRSP/RRIF accounts will be harvested (spent) in quick fashion: often termed an RRSP meltdown. TFSA and Taxable accounts can also be tapped to provide necessary funding as retirees delay receipt of those CPP and OAS benefits. Continue Reading…
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