|  Four-day workweek big in tight labour market If you’re often feeling burnt out by Thursday or wishing for a second Sunday on the end of your weekend, you’re not alone — and a few companies in Canada are taking notice. Square Enix Montreal, for example, has found a four-day workweek has been critical to its success in growing and retaining talent in a tight labour market. The company gives its employees every other Monday off, with a light day of meetings encouraged for the working Monday. "It's also a way to put your money where your mouth is. We as a company always say we put employees first and it's a very concrete measure to be able to do that," said Nathalie Gauthier, executive producer at the mobile app developer. The idea of implementing a shortened workweek to restore work-life balance for Canadians has been growing in popularity, but even some adopters of the model admit it might not be for everyone. Read more from reporter Anne Gaviola about how the idea is working in Canada.  Inflation’s running hot but Canadians want a tan Costs might be high, but after two years of pandemic lockdowns, Canadians are eager to get the most out of the summer. A recent report from TD Economics tracking spending heading into the summer months shows real spending was up 15 per cent year-over-year in May, with Canadians especially keen to dine out and go to shows — the kinds of things we missed the most during the pandemic. "People made a lot of sacrifices for the two years of the pandemic, foregoing many types of experiences, getting together with friends. So I think there is a real appetite to sort of resume those kinds of activities, even though inflation may be quite a bit higher than it was,” says economist Leslie Preston, one of the report’s authors. But as pandemic nest eggs and a desire to get out and enjoy the weather allow some to push through inflation’s bite, economist Stephen Brown notes spending through the pain “makes the Bank of Canada’s job harder.” Find out more about what summer spending trends could mean for interest rate hikes in the months to come in this Global News story.  Fears about filling up That demand for travel is also putting pressure on gasoline prices across Canada. Experts say the sticker shock at the pumps has done little to slow motorists down, however. "I think we're seeing more pent-up demand and interest even amidst record prices," says GasBuddy petroleum analyst Patrick De Haan. But those record prices have 69 per cent of Canadian drivers worried they soon won’t be able to afford the price of gas, according to an Ipsos poll conducted for Global News. Soaring gas prices have also come at the wrong time for commuters, as Canadian workers who have been called back to the office are dealing with not only higher costs at the pump, but decades-high inflation on everything from food to clothing. Gregory Jack, Ipsos’ vice-president of public affairs in Canada, says we’re living through a “perfect storm for people to really be feeling the pinch of inflation through the price of gas." Just how painful will that pinch be? Find a prediction for how high gas will go this summer in this Global News post. ________________________ – THE QUESTION – “I would like to convert my investment portfolio from an advisor-run to a self-directed investment. Is it possible to convert? I had a self-directed portfolio some years ago. I started to invest with a fund manager my parents used and admired. The financial consultant is a very nice person but I do not think my portfolio performance is doing as well as it did when I administered my own money. P.S. this is based on before the big hiccup in the market.” — A Money123 reader “You can typically transfer your investment portfolio from an advisor to a self-directed account with few restrictions. Some investments may have deferred sales charges that apply, or your account may have a transfer fee, so you may want to ask your advisor. Some investments have limited liquidity like non-cashable GICs or private market investments, but mutual funds, stocks, bonds, and exchange traded funds are typically quite liquid. You may be able transfer your investments ‘in kind’ or as is, without selling them, so they are transferred directly to your self-directed account. In some cases, the investments may be proprietary to your advisor's firm and may need to be sold first and have the cash proceeds transferred. This could trigger capital gains tax in a taxable non-registered account. Tax-free and tax-deferred accounts like TFSAs and RRSPs can be transferred without tax implications. A transfer from one account to another does not count as a TFSA or RRSP contribution either so has no impact on your available room. I would not judge the advisor based on their performance relative to your previous performance. Your success or their lack thereof may be based on the performance of markets generally over that time period as opposed to you being a better investor. Performance is probably better assessed by comparing returns to a benchmark. For example, if you are 100 per cent in stocks and half are Canadian and half are U.S., how did a benchmark of 50 per cent Toronto Stock Exchange and 50 per cent S&P 500 perform? That said, past performance is no guarantee of future results – neither yours nor the advisor's performance. You may be able to save one-to-two per cent per year in fees with a self-directed account, but you also expose yourself to risks of not being diversified enough, not understanding the products you buy, trying to time the markets, or other potential risks. Your advisor may also be providing other advice or services in exchange for the fees being paid – though not always. Self-directed investing may work well for some investors. Just make sure you are well-suited and making your decision based on the right criteria. I think most self-directed investors are best to consider low maintenance, passive exchange traded fund portfolios. Stock selection and frequent trading is tough enough for the pros who do it all day long let alone for a self-directed retail investor with a day job.“ -Jason Heath, managing director, Objective Financial Partners ___________________________ Want your money question answered by an expert? Get in touch! | 
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