Wealth Matters

With the RRSP season just behind us let’s use that milepost as an opportunity to ask ourselves:

• Am I saving enough?

• Can I save more?

• Am I committed to better wealth and the freedom it affords me no matter what my age?

• Am I prepared to take action?

• Will I be satisfied with just where life will take me or will I make my future?

Long-term investing is a funny thing, we are trying to make something like retirement that may be far off in the future a priority today while our daily “today” presents us with immediate issues.

While it may seem daunting, I can share with you from my experience that there are some very powerful and simple ways to ensure your long-term financial success:

1. Invest now, invest always, invest automatically, and regularly increase the amounts that you are saving for yourself.

2. Plan for the future and set your course, a retirement plan will set the future destination that you will then make a priority.

3. Don’t rely solely on windfalls, government benefits, or blind destiny.

4. Understand that “while living for today” is a thing, that does not mean that you don’t plan for tomorrow. That’s a story that always ends badly.

Make today the day that you start a regular automatic investment plan or increase the one(s) you already have. Set your goal to maximize your RRSP and thereby minimize your taxes, and take full advantage of other benefits like RESP grants and the tax-free growth TFSAs offer. On the RRSP front, we now have one full year to make a significant difference so let’s make it a great one!