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...

  • Anthony made the process very clear and explained each step along the way. He was very honest and straight forward. My expectation from a financial planner is that they are honest and transparent. Anthony definitely met my expectations and I would be happy to recommend him to my family and friends.

  • When working with a financial planner our expectations are to maximize our investments and have a solid plan for retirement. We now have a greater awareness of our current portfolio and options to best protect our estate. We were provided with good information to use in order to make better investment and estate planning decisions. We would gladly recommend Anthony to our family and friends.

  • We value the personal service and detailed explanations we receive from Anthony on an ongoing basis. We feel comfortable recommending Anthony to our family and friends as he is someone who we can trust and has our best interests in mind. He has been great at helping us work towards a comfortable and manageable retirement.

  • The financial planning process we went through was clearly outlined and explained to me. I wanted to have a better understanding of my financial position and to know whether I could retire early or not.

    I am happy to recommend Anthony to my family and friends.

  • We valued having more options and new strategies in managing our finances up until retirement. Our expectations when working with a financial planner is to have someone who is very knowledgeable with investments and to work with someone who has the time to meet with us for intelligent discussions and provide alternatives for us to consider. Anthony definitely more then exceeded our expectations and we would be happy to recommend him to our family and friends.

  • We appreciate Anthony’s efficiency, his friendly demeanour and ability to listen to our concerns. We value his honesty and willingness to adhere to our wishes, with an understanding of possible implications and his commitment to explain any negative consequences accordingly. Anthony searched out new life insurance coverage as part of our estate planning. He was thorough and communicated each step in the process to us in a timely manner. We wanted someone who thoroughly understands the financial markets and can explain them in a comprehensible manner. We wanted to work with someone who can respond readily to our needs and who can provide proper advice. Anthony delivered on what he promised and definitely met our expectations. We would absolutely recommend Anthony to our family and friends.