Blog Posts

Building Your Financial Plan Part 1 – Assets/Liabilities,Debt Consolidation and Net Worth

The core tenets of a proper financial plan should cover the following topics and we will discuss them over a few individual posts to chunk the whole topic into manageable portions. For those of you with financial planners, hopefully they have gone over all these topics and these posts are just a refresher. Unfortunately, it isn’t uncommon to have many of these areas skimmed over and not given the appropriate due diligence. 1.Current Financial Position or Net Worth 2. List

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Financial Traps Awaiting the Professional and How to Overcome Them –Part 4

  Now for our final post related to our Financial Traps series. These final two traps are generally less harmful than the previous three, but occasionally they can cause dramatic harm to a professional’s financial health. Blind Faith In Other Professionals Many professionals spent a good portion of time in post-secondary education gaining specialized knowledge to enhance their ability to be an “expert” in their field. The more advanced the specialization, the more respected that individual becomes. There are numerous

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Investing Basics – The Power of Compound Interest

  The prior post about inflation discussed why savings alone can’t allow you to enjoy a comfortable retirement. The next set of posts will dive into different asset classes, but the first real question to ask is “How does investing combat inflation?” For those paying attention in the last post, it will likely come down to the power of compound interest. I mentioned that investing with a long time frame is essential and everything else will fall into place. If

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Financial Traps Awaiting the Professional and How to Overcome Them –Part 3

Here is Part three! Lifestyle Inflation The next money psychology problem affects all individuals, but can be particularly heightened for the professional. It is commonly called “lifestyle inflation”. Most people get gradual raises within their careers and have their highest income earning levels in the last 5 years of it. These individuals slowly creep up their spending to adjust to this new raise. It may be one more nice restaurant or an extra massage and manicure. Typically, as soon as

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Investing Basics – Why Do We Need To Invest?

As self-employed professionals, we all know that we have to save for retirement. The above question may seem a bit basic given this fact. Yet I’ve also told you that the first absolute principle of financial planning is simply spending less than you earn and the bigger the difference the better. As a professional, you already have the opportunity to save much larger sums of cash for retirement than the average person. Why do you then need to take that

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The Financial Traps Awaiting the Professional and How to Overcome Them –Part 2

When you begin setting goals for early retirement, learning how to view money becomes one of your biggest advantages. I find the following perception shifts were helpful to forego immediate excess spending for future financial freedom. The first 3 concepts apply to combating the Delayed Gratification trap, while the last concept applies to the Societal Pressures trap mentioned in our Part 1 post. Viewing a Purchase Against Its Potential Future Value It’s very easy to view money spent as just

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The Financial Traps Awaiting the Professional and How to Overcome Them –Part 1

In the following series of posts, we will explore the life circumstances and money psychology issues that often lead to 10-15 years of wasted opportunity to build significant wealth for professionals beginning their working career. These are the inherent difficulties that all professionals face to becoming financially free. I will readily admit that to non-professional readers these will sound very similar to “first world problem” memes on the internet. The majority of other financial blogs and their readers would scoff

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First Post!

I’m excited to begin the slow and steady process of breaking down the opaque walls of the financial industry and making this world directly accessible to you. Through these posts, you will develop the financial acumen to feel confident and move forward with building a foundation to financial freedom far earlier then could ever be imagined. You may be wondering why you should bother listening to advice from another non-financial professional – talk about the blind leading the blind! I

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