Do Your Dreams Match Your Financial Reality?

This was a question I have asked myself many times before. Maybe you’re like me and can somewhat relate? So how do we match our dreams with our financial reality? Well, I’ll explain it from my own personal experience and try and give a few examples and analogies of where most of us have actually had times where our dreams matched our financial reality. All the while, stay tuned to my blog and I’ll share some times where it has been completely the opposite.

So here we go! Now, think for a moment of when you have saved for a specific purchase. It could be something as simple as a pair of shoes or extravagant as a 5 star all inclusive vacation. Now let’s extend the scale of financial realities for a moment. If you plan on getting married one day or have saved for a wedding already, you either have a ton of work ahead of you or are relieved that the work is finally over! I guess what I’m getting at is there are different times when we need to map out our destination in order to get there as smoothly and efficiently as possible. The less stress and worry we have in our travels the better the trip.

I’d like to point out some differences in how many of us have achieved multiple tasks, goals or dreams. It's how we get there! A road trip analogy I heard from one of my new business partners at Investors Group really hit home with me. I live in London Ontario and for anyone who also lives in London decides to take a trip to Toronto or Niagara Falls, chances are, we don’t pull out a map and plot our course. Now, we may fire up Google Maps and figure out what exit we need or what side street we have to turn down. However it’s not a very detailed “plan”. On the other hand if you and your family or friends decide to extend that road trip to let’s say Vancouver, it will probably be somewhat of a different story. Whether or not you actually pull out an old school map or use your GPS, I’d be a little more detailed in plotting out the final destination.

Throughout our life we will likely move through many of the same stages. If we educate ourselves, and gain the “bird’s eye view” or perspective of where we’re going and how we’re getting there, we’ll be on the right track for matching our dreams. Whether it’s raising a family and supporting the kids throughout post secondary education or just making sure you live the glamorous retirement you deserve, having a plan is a great start.

Here’s my plug. I have been interested in the financial services industry for many years now. Over the past few months I have done some research and decided to partner with Investors Group in building my own wealth management practice. If you’re not completely familiar with Investors Group let me share with you just a few reasons why I have chosen to work with them. Investors Group is committed to providing a personalized approach to financial planning designed to help you prosper now and over time. The culture of the company is right up my alley too. I’m most excited to join the team and become more active in the community. The Canadian Association of Food Banks and the Coaching Association of Canada are two of Investors Groups National Partnerships, just to name a couple.

To set up an appointment, send me an email at scott.wain@investorsgroup.com. I’d be glad and take pride in helping match your dreams to your financial reality.

Scott Wain

Work 4 Hours a Week and get More Done!

So, how have you done “living in the now”? Have you had a glimpse or captured the “Power of Now”? Speaking of the “now” and coming across yet another book that I’ll rave about. Some of you may have come across the book called "The 4 Hour Work Week”. Catchy title eh? I know what you’re thinking. A 4 hour work week, yeah right! Impossible! Well, Timothy Ferriss's stories and travels beg to differ. There is already a mass following and videos all over Youtube of individuals who have put some of his theories to practice. I’m one of those individuals who is going to be putting many of his techniques to use. Stay tuned for updates on the testing of his principles.

The concept of the book is bang on and in one way or another, it relates to what Eckhart Tolle talks about in his teachings. How much time do we live for ourselves. How much time does our busy, demanding schedule actually leave for us to recognize the very moment we are in? Our conditioned environments breed the mind to be cultivating for the future, while dwelling on the past which eliminates the “now”. Luckily I’m coming to the realization, I don’t want to be stuck all my life working for this retirement that may never really come. With dwindling pension plans and limited government assistance for retirement, chances are we’ll all be living a much less exciting retirement than we have visualized for our future, unless we take action now. Why not take mini retirements throughout your vibrant and healthy years rather than saving it all up for the future.

In this world of technology we are trying to be more efficient and save time to be more productive. The problem is, with tools like email and virtually everyone sporting a BlackBerry, we’ve accepted these interruptions as okay. An Italian economist, Vilfredo Pareto is of great influence to Timothy Ferris and “The 4 Hour Work Week”. Pareto’s 80 / 20 Principle is the single most contributing factor when it comes to accomplishing the life style design of the “new rich”. (The “new rich” is a coined term that Timothy Ferriss uses to describe individuals like himself, who are living the “dream”.) Back to Pareto’s law, 20% of our job or work we do contributes to 80% of our results. After a couple years of 12 – 15 hour days operating his own business, Timothy Ferriss realized this law. By recognizing that 80% of his business came from only 20% of his clients and that the other 80% of the clients were consuming 80% of his time only producing 20% of his business, he cut the later off. His profits grew 40% over the following month!

Unfortunately we are cursed with the obsolete legacy of the 9 to 5. Our work isn’t measured by performance in this twisted world. Since we have an 8 hour work day, we will fill our day. Not to say the entire day was 100% productive. We are measured by effort and hours worked. If we are “on the clock” for a 12 hour day, our boss is happy. However, if we accomplished the exact same amount of work in 2 or 3 hours and took off for the day, it’s a completely different story. In that case in the eyes of the boss, we should be 4 times as productive in that same 12 hour day right? It doesn’t quite work that way. So if you’re interested in escaping the office and getting just as much work done or more. “The 4 Hour Work Week” is a great place to start. Check out this 5 minute video!

Scott Wain