2016 is here and it’s as great time to revisit your finances. The best goals to set are written, realistic, and measurable. So grab a pen and put some thoughts to paper. Here’s a few effective things to consider:
1) A financial plan. Do you know what your net worth is? Is it where you expected it to be? A written financial plan is a map of where you are headed and how you are going to get there. It is also something you and your financial advisor can hold each other accountable to.
2) Realize what you can control, and what you can’t. You cannot control interest rates, return on stocks, the timing of the next downswing, the price of oil, or the emotion in the markets. Focus your energy on, how much you spend, how much you save, when you plan to retire, and which asset classes you invest in (stocks, bonds, GICs). These things will reduce your stress and increase your likelihood of success.
3) Team of professionals. The cost of not using a lawyer, accountant, and investment advisor can far outweigh the costs of paying one. Take some insurance out on yourself by surrounding yourself with qualified professionals.
Jeremy Ruban and Trevor Stark, in partnership with the Bradet-Simpson Investment Group at Richardson GMP, work hard to develop focused strategies to meet the unique needs of today’s investor. Richardson GMP is Canada’s leading independent wealth management firm, supported by expert tax and estate planning professionals.
If you have questions, feedback or topics you would like us to write about, please contact us at (204) 953-7850 or email Team.Bradet-Simpson@RichardsonGMP.com. You can also visit us online at www.Bradet-Simpson.com
The comments contained herein are general in nature and are not intended to be, nor should be construed to be, legal or tax advice to any particular individual. Accordingly, individuals should consult their own legal or tax advisors for advice with respect to the tax consequences to them, having regard to their own particular circumstances. Before acting on any of the above, please seek individual financial advice based on your personal circumstances. Richardson GMP Limited is a member of Canadian Investor Protection Fund. Richardson is a trade-mark of James Richardson & Sons Limited. GMP is a registered trade-mark of GMP Securities L.P. Both used under license by Richardson GMP Limited.