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Four effective ways to make your business more efficient and profitable

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By Sia Hasan

Special to the Financial Independence Hub

A phrase you’ll hear over and over again when you run a business is “time is money.” And, for the most part, it’s true. Especially when you have workers paid by the hour, it’s tough not to see their time as a reflection of your business’s value. Most modern offices have lots of wasted time that could easily be trimmed to save everyone a headache, and save you money. These tips will give you some good ways to start saving time.

1.) Software and Automation

Managing a team of people can be tough on your own. Requests for breaks, time off, and sick days add up over time, and you can wind up with a lot of money thrown out the window. Relying on pen and paper systems will frequently become a headache and errors are inevitable. Investing in good management software will save time in more ways than one.

If you’re supervising a team and want a good way to manage their time clocks, a time card calculator is a great tool to have. You can track their productivity as well as their reported hours, giving you a better idea of how their time has actually been spent on a certain task. Automation is also a necessity in modern business, as certain tasks just can’t be done as well by a human as by a machine. Give the monotonous tasks to your software and watch as you gain time back.

 2.) Minimize Distractions

A lot of wasted time during the workday comes down to unnecessary distractions. While it’s good for employees to bond over a conversation in the break room and feel comfortable stopping by each other’s desks for a chat, it’s best to keep these interactions at a reasonable minimum. Encourage employees to take their lunch breaks together to cut down on the need for conversations throughout the work day.

But time can be wasted by work-related interactions, as well. Most meetings can be summarized easily by a mass email, and chat software can easily interrupt an employee’s train of thought, so consider replacing longer meetings with a shorter daily one. Allow employees to turn off their notifications, encouraging them to check their email during specific times, and allow them to have plenty of time for focused and productive work.

3.) Go easy on multitasking

Some individuals truly are great at multitasking, but the truth is, many of us are challenging ourselves to a task we’re not up to. Productivity doesn’t come down to the number of things you’ve worked on in a day, but the volume of work you’ve completed. Allow yourself to prioritize a certain task and work on it until it’s complete. Continue Reading…

Good timing for a Travel & Leisure Index ETF?

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Talk about nice timing!

Just as the first Covid vaccines are coming into widespread use, Harvest Portfolios Group Inc. has filed a preliminary prospectus for what it says will be Canada’s first Travel & Leisure Index ETF.

Travel and leisure stocks have of course been among the most hard-hit during the Covid-19 pandemic and are among the sectors that have started to move up as optimism over Covid vaccines and economic recovery builds.

When in January it begins trading on the TSX as TRVL, the Harvest Travel & Leisure Index ETF will provide investors with access to some of the most prominent Travel & Leisure companies in the world, says Michael Kovacs, President & CEO, Harvest Portfolios Group Inc.: “The ETF provides a low cost portfolio that will benefit from a rebound in international travel as the global economy recovers, as well as a demographic trend that was well established prior to the recent Industry shut downs.”

The ETF is based on the Solactive Travel & Leisure Index, which invests in large-cap issuers that own or operate travel-related businesses and are listed on regulated North American exchanges.

Clean Energy ETF also in the works

Harvest has also filed a preliminary prospectus for what it says will be “one of” Canada’s first clean energy ETFs: Harvest Clean Energy ETF (ticker HCLN). Kovacs says this is aagrowing space, an area that is “getting the proper political and societal attention it needs as more Canadians look to environmental factors when investing. There are large sources of Government and Private capital flowing into this space at unprecedented levels which we see continuing to grow into the future. With the changes going on in Energy generation, the future is definitely Clean.”

HCLN will invest in large-cap issuers engaged in clean energy related businesses listed on regulated stock exchanges in North America, Developed Asia or certain European countries. The preliminary prospectus has been filed with securities commissions in all Canadian provinces and territories, copies of which are available on SEDAR (www.sedar.com).

The ETFs’ Management Expense Ratios (MERs) have not yet been divulged but are expected to be in the range of .04, a company spokesperson said. That’s in line with its other passively managed index ETFs, and less than its actively managed ones.

Founded in 2009, Harvest is a Canadian Investment Fund Manager managing more than $1 billion in assets for Canadian investors.

7 simple tips to keep the Holiday Blues at bay

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By Kate Barrington

Special to the Financial Independence Hub

This year has been a tough one and if you’re not feeling merry this holiday season, you’re not alone. On top of the usual hubbub of the holidays and, for many, the challenge of seasonal depression, we’re still in the middle of a global pandemic. No one can blame you if you’re feeling a little overwhelmed.

What is usually a season of cheer may be a little less bright this year, especially if you’re not able to see your loved ones. Even if your holiday celebrations have all gone virtual, however, there’s still plenty of preparation and planning to do: and plenty of room for the holiday blues to creep in.

If you’re worried about the blues hampering your holiday, here are seven simple tips that may help:

1.) Make daily connections

In a time when we’re all staying home, feelings of isolation are common. One of the best things you can do to keep the holiday blues at bay is to make an effort to connect with at least one person per day. Reach out to friends and family, even if it’s just a simple telephone call to see how they’re doing. If you feel comfortable meeting up in person, invite a friend for a walk or an outdoor coffee date. Even writing a letter or sending an email can help you stay connected.

2.) Get your daily dose of vitamin D

As the seasons change and days become shorter, decreased sun exposure often leads to a drop in serotonin levels, which can trigger a pattern of seasonal depression. If you’re prone to the winter blues, make an effort to include natural sunlight in your daily routine. Take a walk in the morning, eat your lunch outdoors, or take one of your Zoom meetings outside. Aim for 15 to 20 minutes of sun exposure per day to help increase your brain’s production of serotonin and enjoy the mood-boosting benefits.

3.) Try new forms of exercise

Staying active is essential for reducing anxiety and depression. It may be cold outside, but there are plenty of ways to get your sweat on:  you may not even have to leave home! Now is the perfect time to try a new online fitness class or an at-home workout routine. Aim for 30 to 60 minutes of exercise per week to keep your physical and mental health in balance.

4.) Make yourself a priority

If you’re feeling overwhelmed with holiday plans, remember you can always say “no.” Make your mental health a priority and learn to identify the signs of stress when they start to creep in. Continue Reading…

What does RioCan’s 33% dividend cut mean for Canadian REIT sector?

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Image by Clker-Free-Vector-Images from Pixabay

 

By Dale Roberts, Cutthecrapinvesting

Special to the Financial Independence Hub

What a difference a pandemic makes. And what a difference a few months can make in the REIT sector. Just a few short months ago RioCan CEO Ed Sonshine promised that the distribution was rock solid. But on Friday of this week RioCan cut its dividend by some 33%.

In May of 2020 Mr. Sonshine had offered …

“Either the market has way overreacted on the downside, or there’s this feeling that the world is so awful that they’re all going to be cut … I can assure you that’s not the case for RioCan.”

So much for assurances, and so much for those dividend payments. And ya, the world is kinda awful in 2020 Mr. Sonshine. These are tough days for many REITs with exposure to retail and office space. We are in the midst of the work from home and shop from home and eat at home new normal. Obviously, it was irresponsible and misguided to make any kind of promise in the middle of the first modern day pandemic.

At the time (in May) on BNN Bloomberg the RioCan CEO also offered:

The current yield is “probably the highest we’ve ever traded at in history, and our portfolio is the best it’s ever been in history.”

The REIT announced late Thursday that the monthly distribution will fall to eight cents per unit as of January from the rate of 12 cents, which has been consistent since February 2018.

And the vaccine rollout timetable for Canada also affected the decision to cut the dividend. We might not be getting to the other side of the pandemic as quickly as we might have thought a few weeks ago. Many REITs do need the world order to get back to normal, or let’s say ‘more normal’. Much of 2021 might look a lot like 2020.

However, after Prime Minister Justin Trudeau recently said he expects most Canadians won’t be vaccinated against COVID-19 until September 2021, Sonshine said it made the company realize the year ahead remains uncertain.

BNN Bloomberg

Canada’s best performing REIT ETF has limited exposure.

When I heard the news that RioCan cut its dividend, I immediately thought of the RioCan exposure in the CI First Asset REIT. I wrote that dedicated post in late October. Looking under the hood, that CI First Asset REIT only has some 2.8% exposure to RioCan. Compare that to the index REIT ETFs offered by Vanguard, iShares where you’ll find exposure in the range of 10%. The BMO equal weight REIT has the exposure under 5%, of their 22 holdings. Horizons REIT ETF (HCRE) also mimics the same index as the BMO offering: the Solactive Equal Weight Canadian REIT Index. Those are both wonderful options.

Back to that CI REIT, it has very modest exposure to the retail sector, and what it does own is by way of some solid grocery store anchors. The fund also has very limited exposure to office REITs at 6%. The fund, thanks to its active management and more broad-based portfolio appears to be well positioned for the pandemic and ‘new normal’.

Remember why you own those REITs

Real estate is known as rock solid: these are hard assets. You collect rent. It is not a good time to run away from the sector. Remember why you own those REITs in the first place. You own it for diversification and for the generous dividend payments.

REITs are a wonderful diversifier for those stocks and bonds. It’s another layer for the portfolio.

And here’s a very informative post from Horizons – Finding the right income opportunity in 2020. That post covers why preferred shares an

d REITs can provide some of that desired yin and yang on the diversification front.

And here’s why REITs can benefit when bond yields and rates are low. Continue Reading…

6 tips for building Wealth in your 30s

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It pays to invest early and often.

Starting to invest earlier in life ensures that your money will compound and grow over time.

By the time you reach your thirties, investing tends to become a serious consideration. People in their thirties may have families, their first mortgage, and a blossoming career that enables investing to take place.

So what’s the best investment strategy for someone in their 30s looking to build wealth?

We asked financial planners, thirty-somethings, and other professionals for their best investment strategies and tips.

Here’s what they had to offer about building wealth in your thirties:

Invest in your own companies

I’m a 36-year-old business owner and dad of 3. As I drive my minivan around town, I often think about the best way to build wealth in my mid-thirties. I’ve looked to max out retirement plan contributions for the last decade and set defined contributions to investing in mutual funds and stocks. But, I don’t believe any of that stuff is the best way to build wealth. The place I’ve landed is to invest in yourself, your ideas, and your own companies for the biggest investment. That way, you create real assets where you have a direct impact on the outcome. If you lose the investment, you just lose money. But you still win because you’ve invested in yourself, and the long-term payoff on “you” is one of the most rewarding returns in life. — Brett Farmiloe, Markitors

Start early on Real Estate

Real Estate continues to be an excellent way to build wealth. Especially in a state like Arizona, where we currently have a housing shortage and a large influx of people wanting to live here, owning real estate should be a key part of building wealth long term. — Rod Cullum, Cullum Homes

Invest in things you understand

Keep it simple by spending less than you earn; with the money that you retain, you can start building a safety fund of 3-6 months of spending. By doing so, you won’t need to sell investments or go into credit card debt if an emergency comes up. In regards to investments, ensure you are choosing investments with low fees and that you have a clear grasp on what you are investing in. Fully understanding what your investment entails will prevent you from getting emotionally attached to your investments. — Keith Piscitello, S2 Wealth Planning

Pay off your Debt

The best way to build wealth for a 35-year old is to start by paying off all of your debt as soon as you can. Pay off your credit cards, student loans, car loans, and maybe your home loan. Continue Reading…