Most people need money in the bank – before they need financial planning.
Jim Ruta’s
World’s Shortest Financial Planning Course
- Accumulate money the old fashioned way… SAVE IT UP…Learn to live on 80% of your Net Income…keep 20% in reserve. So many of us get involved in living on cash flow…where your monthly income covers payments on purchases rather than paying for purchases. The upshot of this losing strategy is that many end up living on about 120% of their net income. Once in this “program” people can escape but the most frequent incentives end up being heart attack, bankruptcy and divorce. Believe me there are some lessons you don’t have to learn yourself…and this is one of them.
- If your gross habits exceed your net income your upkeep will be your downfall…Save the money you spend to impress yourself. Buying things just to make yourself feel better has it’s compensations to be sure but the bitterness of having no money lingers long after the sweetness of having “stuff” is forgotten.
- Success in investing has never been and never will be about rate of return.It has always been and always will be about the personal discipline of putting money away. The propaganda we see every day about investment options is all interesting just not very important if you don’t put any money away. Remember, the only way to make compound interest work for you is to have money for compound interest to work on.
- Remember that “peace of mind equals quality of life.” In choosing your investments and options keep this stunningly simple idea in mind. Being able to sleep soundly at night can never be overvalued.
With the average RRSP account in the $50,000 range and emergency funds nearly non existent most Canadians need smart savings strategies more than they need investment planning.
This years RRSP season is quickly coming to an end. Give me a call to open up a new account or to top up your existing portfolio.
The ultimate advantage of my services consists of helping you sleep well, while achieving your goals.
I’m not here to make you rich – I’m here to help you not be poor.
