Simple Goals for Living Well

This seems to be an increasingly topsy-turvy world with wacky politics and trade wars between the US and just about everyone else. And in Canada we have all just witnessed another hard-fought federal election that ended with a minority government. The question is how to navigate such tricky waters in daily life?

For example, a young client a few years ago agreed to purchase a starter life insurance program. When his insurance was approved, and it was time to deliver the contract, he wanted to wait a few weeks. At the time, there was a lot of media buzz about a religious figure in Southern California calling for the end of the world…and this young man decided that he wanted to wait until after that date.

I pointed out that there have always been ongoing predictions about the end of the world and that the prudent course of action was to move forward and put his starter financial plan into effect. He agreed and we met a few days later.

One of the best ways to deal with uncertainty and stress (the ongoing background noise in most Canadians' lives these days) is to control what you can and focus on doing the best that you can with the resources you have.

One possible strategy, whether you are just starting out in your first job or you are already retired, is to focus on the little things you can improve month by month.

Start out by picking just one thing you wish to accomplish during the next month and get it done. This goal might be completing those Estate Planning documents, Wills, Powers of Attorney and Medical Directives, that you have been avoiding. Or maybe, just putting aside $100 per month, until you have enough saved to pay for these documents to be completed.

For other people, it may mean a monthly savings plan to build up some emergency cash reserves. One idea is to use the old cookie jar as a place to stash money and keep it outside the actual banking system. Having extra funds on hand can protect you against financial stress in cases where banks or ATMs are unavailable because of weather-related disasters.

Another strategy might be to buy some extra supplies of food staples (sugar, coffee. flour etc.) to add a little protection in your budget against the possibly of rising food prices over the next 12 months. Having some emergency measures in place during the coldest months of the year, as recommended by the Federal Government, is never a bad idea.

For details:

Whatever your circumstances, there is always something that can be done to improve your personal situation – either to increase security or to build assets. For younger investors, dollar-cost-averaging (buying investments on a monthly basis no matter what) is a great long-term strategy for building wealth.

The key is to do something on a monthly and regular basis that increases your personal resilience and ability to respond to adverse circumstances. By following a plan, you will sleep more soundly at night knowing that you did the very best you could each month.

Try this for the next 12 months and see if your anxiety and stress levels subside. The goal is to replace fear and dependency with hope, optimism and a feeling of independence. A “yes I can” attitude!

Call us today for a discussion on how you can improve your personal situation. Small incremental changes can lead to massive improvements over time. The goal is to bend your life's trajectory more in line with your hopes and dreams!

Copyright © 2019 AdvisorNet Communications Inc., under license from W.F.I. All rights reserved. This article is provided for informational purposes only and is based on the perspectives and opinions of the owners and writers only. The information provided is not intended to provide specific financial advice. It is strongly recommended that the reader seek qualified professional advice before making any financial decisions based on anything discussed in this article. This article is not to be copied or republished in any format for any reason without the written permission of AdvisorNet Communications. The publisher does not guarantee the accuracy of the information and is not liable in any way for any error or omission.

What our clients are saying...

  • I was looking for a financial planner who could provide clarity and show me the best possible way to structure and plan for my retirement. Anthony’s expertise was clearly evident. He is professional, punctual, and answered all my questions and concerns. I would definitely recommend Anthony to my family and friends.

  • We expect a Financial planner to be thorough, detailed and have a strong understanding of their clients' needs. It was a pleasure working with Anthony and his team. He delivered a tremendous package and reviewed his findings in great detail. Anthony's attention to detail, solutions, recommendations and in-depth reports provides a great deal of confidence in his recommendations. We would absolutely refer our family, friends and associates to Anthony.

  • I expect my financial planner to review and discuss my financial goals along with how my goals can be achieved. I valued Anthony reviewing my investments and the projections of what they will equate to when I reach my eventual retirement. Anthony has certainly met my expectations and I would be happy to refer my family and friends.

  • My expectation was to be provided with the best possible advice specific to my situation (as it evolves) and to be provided with objective, evidence-based solutions which will provide me with the maximum financial benefit (and peace of mind). I valued the very thorough process of gathering all pertinent information regarding my estate, pension, income and expenses in order to produce a very detailed and fulsome projection of my current and future financial situation. I really appreciate the time Anthony has taken to answer all of my questions and provide sound advice based on my goals and concerns. I am really looking forward to continuing my investment and financial planning journey with Anthony. I would certainly recommend Anthony to my family and friends!

  • We valued receiving a detailed report and explanation of our finances. When working with a financial planner, we expect to have our questions answered with adequate detail and to have a plan developed to help grow our money. Our expectations were clearly met and we would be happy to recommend Anthony to anyone looking for a Financial Plan.

  • We valued the fact that you sat down with us, heard what we wanted to say, asked for clarification and offered suggestions, and then came up with a detailed and well-reasoned plan in a short period of time and communicated that back to us so that we knew what we needed to do moving forward. Thanks!

    Our expectations for a financial planner are several fold: (1) Does the planner communicate well, in that they both listen but also offer suggestions and ideas in a clear easy-to-understand way, (2) Are they able to meet their client at the same energy/level and meet their specific needs? In our case we needed a tax minimization strategy within a short turn around time. (3) Did the planner actually do their job, in that were they able to provide ideas and suggestions that helped address the client's asks?

    We came to see you because we realised that we hadn't looked at how to minimize the taxes related to my Father’s estate planning and my mother’s future financial planning, and you were able to tell us things that we didn't know about, and offered us solutions that helped us with our future financial planning.

    You definitely met our expectations! In some ways, you actually exceeded our expectations. We were hoping that you could respond quickly, and you came up with a detailed and well-reasoned plan faster than we expected!

    Our only area of improvement we could think of was, given that the plan was very detailed, if we had an explicitly spelled out action plan with a timeline for completion.

    We are very happy and would definitely recommend you to our family and friends and in fact have already done so!