Hitting the road without a map

Maps. They were purchased in gas stations, and lived in the glovebox. There were maps of countries, maps of cities, maps of neighborhoods in cities. The maps could fit in your pocket, or take up the entire front seat while you and your spouse try to navigate the Central Artery in Boston (no distracted driving laws then!). These maps now live comfortably on your 6″ screen, but the premise remains the same: we crave the knowledge that they are taking us in the right direction and we hate getting lost.

But where do we get lost in our finances? Isn’t it just making sure your checking and savings accounts have enough for groceries?

Well, as you progress through life you will begin to navigate a labyrinth of financial products, systems, and tools, and before you know it, you’re growing your portfolio to the point where you may not even be sure what you’re paying for. It starts with that first car loan, then comes the company benefits plan, TFSA, filing taxes, down payment, RESP, RRSP, more taxes, I should invest in Apple, do I have enough for retirement?, can I even retire?, oh no I didn’t invest in Apple…

Do I still have enough for groceries?

Find a Map

The solution is simple; you need a centralized point of contact who connects all these pieces into an organized, evolving, and progressive long- term plan that can help you navigate the perceived complexities of the financial system. The payoff is that no decision is made to take on something else without first making sure that you have the right financial supports to take it on.

So let’s go back to your map. Essentially, you have six buckets: insurance, investments, taxes, mortgage, benefits, and the plan that ties them all together. As you reach different milestones in your life, the financial plan will simply be updated to make room for them, based on your current cash flow. We do everything within your means, with a focus on reaching life goals, vs simple dollars and cents.

Don’t Get Lost

Sales people want a sale. The car dealership will always sell the longest term, regardless of how much more you’ll pay over the loan. This same thing happens in the financial industry, where “advisors” have a very narrow vision of where you’re at, and will push you to buy products that may not mesh with the current state of your life. This adds complexities when you seek to make changes to your current plan or goals.

At the end of the day, you just want to comfortably know where you’re going. The knowledge that you have everything up until now taken care of, and a plan for everything that is to come in the future.

A simple, concise, plan for your family; we’ll even get a copy for your 6″ screen.