A Message from our CEO...
There is only one way to become amazingly great at something...
Now, I'm not talking about becoming a "master," just amazingly great. Or heck, even highly proficient. But there is only one way to do it: practice.
Which is the one thing I find that is most lacking when it comes to retirement.
Think about it. Do you know how to retire?
I know from the work that we do with you that you know what your attainable retirement cash flow is and what your attainable retirement age is, but do you actually know how to retire?
In my mind, this is something you absolutely need to practice to get it right. To become highly proficient at or ultimately, amazingly great at it, you need to practice.
So, how do you practice retirement? Simple.
Each year, from now until you actually decide to retire, take a
mini-retirement. I learned this concept from a book I read authored by Tim Ferris.
The concept was amazingly simple, yet extremely complex at the same time.
Instead of planning your next vacation so that you can "get away from reality," plan your next stretch of time off as if it were a small test run at retirement. Instead of going to an all-inclusive resort, rent a home in a beautiful part of the world and live that time off as if you were retired. Take the time to explore a new hobby. Take the time to get involved in an activity you perhaps have had to put off because of work or family obligations. Get back involved in something you loved when you were younger and start to do it again.
Just remember, to become amazingly great at something or just highly proficient, there is one key ingredient that must accompany your practice, and that is -- mistakes. If you want to become great at something, you need to learn from your mistakes.
So instead of learning from your mistakes on Game Day (i.e. when you retire), begin to learn from your mistakes during your dry runs. Learn from your mistakes to make you great.
I heard of a fellow who retired earlier in life than most. He was so excited and so passionate about the game of golf that he couldn't wait to begin the most exciting time of his life, a time when he could play golf as much as he liked without any obligations from work.
So, a year later, he was asked how his retirement was going. His response? "Miserable", he said. He loved the game of golf, it was one of those things he always looked forward to doing. But now that he could do it anytime he wanted (and he played almost 180 rounds of golf in that first year), he
wished he had practiced what it would be like to golf that much because it wasn't all it was
cracked up to be.
He said he was looking for other things to get engaged in.
But
the problem was,
he had nothing else to turn to.
Practice your retirement. Take a
mini-retirement this year. Make some mistakes. You'll be glad you did.
All the best,
P.S. If you're interested in finding out more about "Mini-Retirements", please listen to my radio show where I provide you with a free tool to use to help you plan your next mini-retirement.
Listen for free!
P.P.S. Do you know someone who is close to retiring?
Do you know somebody who has his/her own business?
Introducing me to these people is more important now than ever before. The financial landscape will look a lot different in the next 2-5 years, and these two groups (i.e. those close to retirement and those who are business owners) are going to be affected the most. We are focusing our efforts on making sure our information reaches them to provide valuable insight and advice.
My latest book, "How To Choose And Work With A Financial Planner You Can Trust" is available now. You can share it with anyone you introduce us to - FREE! Simply have them click on this private link:
Private Client Group Introduction Offer: FREE e-Book
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How to rebuild your Canadian credit after living abroad
Whether you took a gap year to travel, your company relocated you or you just decided to try a new place, if you leave the country for an extended period, you likely will wonder at some point what's going on with your credit score in your absence.
Unfortunately, depending on how you left Canada and what you did with your accounts before you left, you may be starting from scratch in rebuilding credit after living abroad...
Read More, and see what Mike Gomes, CFP says about what to do before you leave the country.
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Be a Fly on Our Wall
Staying informed about the latest information and strategies is a challenge. Fortunately, when you have a Top Guns Network™, as we do, the process is a lot easier.
We regularly communicate with members of our Top Guns Network™ to stay up-to-date on what's important in their areas of expertise. When we do this, we record our call so you can be a "fly on the wall" and listen in.
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The Business Owner's Toolbox
Financial planning for business owners and entrepreneurs is, to put it quite simply,
different.
Don't let anyone tell you otherwise.
That's why we devote this section to our recent articles that are specifically targeted to this important market segment and provide valuable insight to help you succeed.
RECENT BUSINESS OWNER ARTICLES:
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Learn from Our Free Radio Show
Scott covers financial planning topics relevant to Canadians who are motivated by creating a bigger future for themselves and their loved ones.
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Financial planning is a lifelong pursuit. It starts with an in-depth understanding of your current issues and concerns, and a clear understanding of your needs and goals. There then needs to be a process in place for monitoring your progress towards those goals to ensure they are attained.
At IRONSHIELD Financial Planning, our
CFP professionals are continually working to make those goals a reality for each and every one of our clients. We're dedicated to helping you make smart, educated and well-thought-out financial decisions throughout all the various stages of your life.
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The CFP professionals at IRONSHIELD Financial Planning® are continually working to make financial goals a reality for each and every one of our clients. We're dedicated to helping you make smart, educated and well-thought out financial decisions throughout all stages of your life.
The foregoing is for general information purposes only and is the opinion of the writer. This information is not intended to provide specific personalized advice including, without limitation, investment, financial, legal, accounting or tax advice. However, please call Scott Plaskett, CFP of IRONSHIELD Financial Planning® to discuss your particular circumstances.
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IRONSHIELD Financial Planning®
310-701 Evans Avenue
Etobicoke, ON
M9C 1A3
416-626-6515
info@ironshield.ca
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