Everyone works their whole life to pay bills, go on vacation, provide for their kids, and much more. Most people dream of the day when they can retire. It is interesting to me how few people actually work as hard at planning their retirement as they do each and every day they show up for work.
With a few smart decisions everyone can retire early if they want, provided they do not have any unforeseen medical issues, unemployment, or live through a natural disaster like Hurricane Katrina. Those things will obviously put a wrench in anybody’s financial plans for the future but with the proper planning even those events can’t stop you from achieving your goals. Just imagine how bad your future would look if you didn’t plan properly?
The first, and most important, decision you have to make when planning your future is the one to live within your means. Many people in Canada feel the need to keep up with the Jones’. Their friend or neighbor gets a nice new car so they go out and do the same. How do you know if that person you are trying to keep up with isn’t buried in a pile of debt?
People max out their credit cards, keep no money in a savings account, let alone the six month emergency fund all financial professionals recommend, and keep on spending. They borrow money against their homes and spend it. I hope to help at least a few people learn the benefits of changing their lifestyle so they can live comfortably when they retire. I hate hearing about elderly people that need to chose between eating and their hydro bill. Hopefully I can help prevent that from happening to a few people.
I began a business as an independent insurance agent/retirement planner, with the goal of making a difference in people’s lives. People work hard for their money and I want to help them get the most bang for their buck as opposed to hurting them. Keep an eye out for a series of articles on the following topics:
-Pay Yourself First
-Shred the Credit Cards
-How to Make Insurance Work for You
-Increase Your Earning Potential
AndrewWBradley.ca Financial Services