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

People often ask me why we’re called The Lifestyle Protector. My father decided on that name because it’s our mission to help people protect (and enhance) their lifestyle.

Alternatively, I think of myself as a financial architect — I help our clients design and develop their financial strategies so they can achieve their aims and aspirations.  Of course the key is to protect their lifestyle – the one they already have, or the one they hope to achieve.

After all, money is … Continue Reading

Last time, I wrote about asset allocation, which is primarily about managing risk. It means balancing a higher possible pay-off against a lower risk.  That’s important because generally the higher pay-off investment options tend to carry more risk, while the lower pay-off options tend to be less risky.

A good portfolio includes both types of investments.  It includes equities, which have greater growth potential in order to make sure the portfolio’s value continues to increase.  And it also includes fixed income investments. The latter offer minimal growth – yet … 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

It seems with the events of 2008 not too far behind us we are less likely to react to the latest news of market volatility. At least that seems to be what clients are suggesting. When I ask for a client’s thoughts, they mostly shrug their shoulders and say, not much point in panicking. We’ve seen this before.

In those conversations, some themes keep coming up so I thought I’d share them with you.

1. What goes down will go up. This has been proven, … 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

Well, finally there is a majority government in Canada. Fortunately, we won’t have to go to the polls again for another 4 years. And, impressively, even after 4 elections in 7 years there was a lift in voter turnout. Possibly because of the inspiring efforts of groups like Leadnow who are encouraging voting.

Curious about voter turnout, I looked to find out how many Canadians voted in past elections.

Would you believe the 1963 … 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

I had lunch on Sunday with a friend. We ended up sharing a table with what appeared to be a man and his nephew because the restaurant was so busy.

I didn’t think much of it until I over heard their conversation shift to RRSPs and TFSAs. I’m in the financial industry so give me a break. Of course, I’m going to listen.

The older gentleman was asking the younger one if he had heard of RRSPS and TFSAs. There was a very brief education exchange and then their conversation moved on … Continue Reading