Time is one of those daily realities that we usually take for granted. But when it comes to building wealth and managing investments, it is tremendously important. How you view, manage, and interact with "time" could deeply impact your financial success more than any other variable that you personally control.
"At this point last January, I was determined to change my relationship with money forever," says Daniel. This is a New Year's resolution he shared with 69% of Canadians last year1. However, unlike most others, Daniel has been able to stick with his promise to get control of his financial life. "I'd say 100% of my success comes down to working with a financial advisor who offered me a powerful way to get started and keep going."
Many investors are very focused on annual returns and others worry about losing money if the economy goes into a recession. The reality is that how to approach or react to different scenarios really depends on what type of investor you are. In other words, context and your financial plan are everything!
Now may be the perfect time to teach your children about financial independence. There are plenty of real-life examples in the media of how not to manage your finances. To really teach children money management skills, they must learn to handle money personally and to make consequential decisions on how to manage it.
It's that time of year when wish lists for gifts are circulating. Before purchasing that iPad, game system, e-bike or leather jacket, consider a gift that will keep giving well into the future.
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