My Dad’s Mom, Vivian, was a spectacular woman. She was born in 1927 in Montreal to her mother, Mariette Daumery from Belgium, and her father, Albert Turnau, from Paris. Her father, a shrewd businessman, retired at the age of 40 in 1936. He owned multiple properties and was a generous and sought-after landlord in Montreal because of his fair and kind demeanour in an often greedy and power-hungry industry. He taught her that she could do anything she set her mind to, even if she was a (gasp!) woman!
After taking time to travel as a young woman after the Second World War, Vivian settled down and had three kids; however, she was unsatisfied with being at home full time. Vivian chose to get her Masters – and my grandpa was a massive support. At this time, women were only permitted to complete a Master of Home Economics or a Master of Nursing. Once she finished her Master’s in Home Economics, which she excelled at, Vivian proceeded to be a teacher for her career while raising three children. Needless to say, she was a woman ahead of her time. Vivian thrived on the balance of working inside and outside the home. Along with many others, she paved the way for women’s equality and their right to choose how best to juggle both work and home life.
Her father, Albert, lived 56 years on the income from his rental properties and investment portfolio. You could say he knew a thing or two about investing and happily passed these words of wisdom onto his keen daughter.
In University, I was assigned an essay on an inspirational woman, so of course, Vivian was my woman of choice. We had many interviews together, and in one, she impressed upon me the life values that were passed on to her … and that I have continued to incorporate in my practice today. These values include the following:
ALWAYS Pay Yourself First
Save a part of your paycheque for YOU – whether it’s a present for yourself or savings for #futureyou. Vivian made it clear that there are immense benefits to having your own money set aside and available to you – no matter your life circumstance.
Make Dividends + Blue-Chip Companies Part of Your Portfolio
To this day, blue-chip companies are the foundation of most of my portfolios! Blue-chip companies are defined as old, stable enterprises that long ago established their place in the world. Dividends from these types of companies increase your rate of return – think of dividends as small, usually constant and continuous increments of ‘thank you’ gifts for supporting the company!
Buy + Hold
The old adage of ‘buy + hold’ is often forgotten – but statistics show that it is still the best way to build wealth. Stay steady and be consistent with your investments – the flashy thing one day won’t be there the next. Vivian reasoned that anything worth having takes time and attention to get it built… was she ever right!
Trust Your Gut
Listening to your gut can sometimes seem easy to do but also easy to ignore. However, when it comes to investing, it can be an invaluable resource! And if it looks too good to be true, it probably is. With that being said, it’s okay to take calculated chances, and if they are truly smart, they will pay off.
Enjoy a Treat or Two… in Life
Life can be hard at times, so savour the wonderful moments. I recall Vivian describing how she’d prioritized saving for travel in her younger years because she truly believed it was an invaluable experience in enjoying life. Saving and spending money on things that make you happy will make weathering the hard times that much easier.
I love that my grandma’s words of wisdom are able to resonate + hold true years after she passed them along to me. While it is never too early or too late to start implementing these practices, I’ve learnt that being exactly where you are… is where you’re meant to be! Listening to the words of wisdom of all our elders, especially those women whom we know + trust as our role models, can prove invaluable for many areas of our lives, including building our wealth!
