To really bring the point of sound financial planning home to my clients, I often tell them the story of the two widows, one of them financially secure, and one of them in the opposite situation.

One widow has been left a legacy of chaos. She faces all kinds of credit card debt, a huge mortgage, and insufficient income.  She’ll probably be struggling with money issues for the rest of her life.

One widow, on the other hand, has no debt, and … Continue Reading

When it comes to investing, there’s usually some risk involved.  Certain options carry a greater degree of risk than others.  Still, even the supposedly safe options are not entirely without risk, even though we don’t like to think of them as risky.  The key to keeping your investments as safe as possible lies in asset allocation, which creates a balance of riskier and safer investments.  This article talks about some of the basic principles.

Why take more risk?

Many take investment risks because higher risk tends to come with the … Continue Reading

Given the current state of the financial markets and given that I work with people and their money I’ve been doing a fair amount of reflection. We design clients’ investments for the long-term and with quality so their lifestyles are protected. But when the market has lost its ability to recognize value, I for one have started to wonder, “what’s going on?”

Over the last 24 hours something has shifted. I seem to be getting the message “stop worrying and focus on what motivates you.”

Why do I say that?

Well, … Continue Reading

“In the long run, we shape our lives, and we shape ourselves.” – Eleanor Roosevelt

If you live in Vancouver, you’ll likely be anticipating the next Canucks game. Even if you’re not, you have to give them credit for lasting the distance.

Through the ups and downs of the season, through wins and losses and through injury and health, they’ve achieved the ultimate this season – getting to the finals.

When you’re in business, the seasons are … Continue Reading

“I’ve been rich and I’ve been poor. Believe me, rich is better.” – Mae West

Coco Chanel, Queen of Fashion

I read Diane Francis‘ article The Queen sets a better example this last week. I don’t know about you but I liked her spin. Maybe because I’m a woman. But more importantly because … Continue Reading

I met Marc (name changed to protect the innocent) this week. He’s young (early 30′s). He’s a business owner. And, he’s ambitious.

I loved the conversation. He told me how he got started in 2006 by accident (don’t many entrepreneurs start this way?). He told me how he moved from a traditional street front operation to an 8th floor location in the CBD. And he told me how he’s grown his business by focusing uniquely on business customers.

Because his personal passion is for all things mechanical, especially aeroplanes, he continually … Continue Reading

I read Tom Bradby’s article in the Globe and Mail titled “William’s story: Told by the journalist who knows him best.” I liked the article as it provided a perspective on how William, despite the expectations of those around him, seems to be determined to carry off his destiny in a manner of his choosing. You’ve got to credit his mother with providing the foundations of such thinking.

The article also got me thinking of … Continue Reading

“Men of action are favoured.” – George S. Clason, The Richest Man in Babylon

I don’t believe anyone wakes up and says to themselves, “I’m going to go to work today and do a bad job.” Not even the team at Borders, the second-biggest U.S. bookstore chain that filed for bankruptcy in New York.

They made management changes, there were job cuts and there was debt restructuring. They did their best, I’m sure, to turn the company’s fortunes around. But, for whatever reason, they just … Continue Reading

“The secret to happiness is low expectations.” – Barry Schwartz

From the time we get up in the morning to the time we go to bed, life is a series of choices.

Some don’t seem that important. For example, the colour of socks I wear today won’t make much difference because I’m able to change my socks tomorrow.

But other choices can have a significant impact. For example, the choice not to act at all.

Each choice is based on the knowledge we have at the time we … Continue Reading

“You’re going to think anyway, so you may as well think big!” – Donald Trump

OK – I’ve decided. I’ve decided on my 2011 priorities. But, according to David Siver, if I want to be successful, I need to keep my goals to myself.

So for now, I will keep them to myself. But I will share with you just how I decided on what’s important.

First, I decided there are three areas in my life that requires attention – my business, my family & friends … Continue Reading