2020 – The Year We Never Expected

Janine Purves, CFP?, CPCA, CCS

It’s October, and most of agree this year has not turned out as planned!

The travel plans, the big parties, the gatherings, most have not happened.

While we have had to adjust to this current reality, we still need to find joy, and happiness in what we pursue, we still need to ensure our priorities are in place, we still need to ensure our family is the priority.

Where does Financial Planning come into play? Financial planning provides a core that helps you to focus on priorities, on values, on managing family wealth, ensuring a retirement that provides the life you hope for, and managing transition of wealth to the next generation.

Most people think it’s about product and the best investments, but that is only 10% of the solution. The rest comes from the proper plan which focuses on priorities, managing behaviour, and minimizing tax.  It’s not about product or which stock you picked, it’s about having meaning in what we do and how we live.

If these priorities are important to you, have you recently reviewed your financial plan? 

If you have recently retired or are expecting to retire in the next 5 years, then re-visiting your plan is critical. 

In the past few years, I’ve come across the best way of helping my clients to make these dreams become reality. And it’s tieing together a few key factors: Identifying The Behavoural Cash Flow Plan, tax management, efficient wealth transfer, all to best manage family wealth over multiple generations.

How does it help? It provides a comprehensive written plan including specifics on your personal spending based on a customized process that allows a Cash Flow Specialist to work with you to help meet those goals. 

Who does it work for?

·        You make a good living, but don’t know how it can transition to the next generation.

·        Your current strategy is all about product, not about your plan.

·        You are committed to funding your dreams, and willing to take steps to get there.

How do we do it? 

1)     Complete a Cash Flow Plan. This special document outlines your current assets, and spending, and provides a base of how to proceed.

2)     Review your priorities and identify the dreams you want to fund. By identifying your top priorities for the short-term and the long-term, we can identify a structured cashflow plan to help ensure your dreams are met.

3)     Identify values to ensure wealth transition. By identifying various structures, we can assist in moving wealth through generations. 

4)     Relax and follow our steps. Following our quick and easy plan means that you will save money and get ahead. By focusing on your priorities, and stopping the money & tax leaks, your life can be more fulfilled and so you enjoy the journey, knowing that the destination is truly achievable.

By making small changes now, you can enjoy life and improve the wealth transition to the next generation. Focusing on what’s most important can make a world of difference, but it starts with you. 

We have never been trained to manage money. There was no cash flow course in high school, yet it’s critical to all our success.  Let 2020 end on a positive note! Focus on planning for your future and that of your family. Let’s get you on the road to success before you know it.  Sign up for our next Wealth Management workshop:

Janine Purves, CFP?, CPCA, CCS is a Senior Financial Advisor with Assante Capital Management Ltd. Assante Capital Management Ltd. is member of the Canadian Investor Protection Fund and Investment Industry Regulatory Organization of Canada. Please contact me at 905-707-5220 or email at [email protected] to discuss your particular circumstances prior to acting on the information above. This material is provided for general information and is subject to change without notice. Every effort has been made to compile this material from reliable sources however no warranty can be made as to its accuracy or completeness. Before acting on any of the above, please make sure to see a professional advisor for individual financial advice based on your personal circumstances.