Why Most People Fail at Financial Planning and How To Manage Your Money Like The Top 10%


Are you already wealthy? Meaning, you can retire on your own terms, if you wanted to quit your career tomorrow, you could. If so, congrats, that’s awesome, roughly only 10% of Canadians have the ability to retire on their own terms and if that’s you, give a thumbs up if you agree with what I’m about to share.  

If you do not feel wealthy or unsure, you have lots of company.  Give a thumbs up if you find the following helpful…

Have you ever asked yourself the question, why?
  • Why are the majority of Canadians financial stressed? 
  • Why are most living paycheck to paycheck no matter what their income level is? 
I’ve been become great at asking the question Why, and I have found the answer to the following why: 

Why are roughly only 10% of Canadians on the path towards to financial independence while the other 90% are not?

The answer is not necessarily what you think.  Maybe, just maybe, even with all the information out there, we just don’t understand what the problem is! Maybe we have been solving the money problems all wrong

Before I share the answer, I will ask you 2 questions. 

Have you ever been in love?  The majority of us have either experienced love or have been really attracted to someone before. I’m sure you were busy before you met that person, but when you declared you were going to spend time with this person, “poof” your calendar just freed up.
What is money? Money is an idea and it is very emotional. And just like relationships, you manage emotions. If you abuse money, it will leave you. If you ignore money, it will leave you. But if understand money and learn how it works, take care of it, and continuously look after it, money will treat you well.
Now that you understand that money is emotion, and we are emotional beings, you have 3 decisions to make to be able to retire.

Choice #1 – Do the bare minimum
Get your company match, have some insurance. If you do this your entire working career, you should be able to retire as long as nothing happens along the way. Will you become rich? Probably not.  Will you be able to afford a financial head wind if an emergency happens or someone needs your help.  Probably not.

Choice #2 – Hire a team
You’ll need some education so you don’t get taken advantage of when you hire an advisor, tax specialist and/or laywer. This will take 3-6 months. People are often persuaded by the fancy suppers, and big fancy offices.  Don’t be.  Due your due diligence, trust your gut.

Choice #3 – Change your viewpoint
Become crystal clear on your vision, your values and your goals.  Who you are and who you want to be, and be known for?  No longer a consumer, you will become the bank.  Plant your flag and realize the Major Key to Success is YOU, you are your number 1 asset, things happen 100% for you and because of you.

When you become clear on your vision and values, you will make better and more educated decisions that will lead to results. These results will lead to more confidence which will allow to focus more on what is truly important – yourself, your family and friends, and your career.  When you specialize in you, you will unlock your mind, you will get professionals and coaches that will help make the transition from good to great. To be able to retire on your own terms!

Indecision is the killer of wealth and dreams.  The middle class and majority suffer from the someday syndrome.   Someday, I will take myself and my finances seriously.   Someday does not work.    Make a decision today.   Plant your flag.  Knowledge is only power when put into action.

What decision are you going to make?  If you are ready to make decision #3, I love helping professionals get clear on their vision, values, goals – who they are and want to be.

Book a 15 phone conversation today at:   https://letsmeet.io/thefinancialengineer/15-min-phone

Steve MacLellan, P.Eng

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