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Solid, Realistic Financial Goals
GETTING STARTED ON YOUR FINANCIAL FUTURE
Choose how to plan for, protect and live it your way
Right now is an exhilarating time when you’re beginning to create the life you want to live. You’re building your career and maybe starting a family. And of course, you’re already thinking about your dreams for the future.
Wherever your life path takes you, living well means being financially prepared. By starting to plan now, you’ll be ready for what’s around every corner.
Starting your financial plan doesn’t have to be complicated or scary. It’s just a matter of taking the right steps to turn ideas into actions.
- Write down your most important financial goals and set a time frame for when you’d like to reach them (e.g. this year, in 5 years, in 15 years, etc.).
- Make a monthly budget, including a regular amount to add to your savings and investments–and stick to it!
- Look for ways to amalgamate debts, reduce debt payments or pay off debts more quickly so that you have more money to put towards your financial goals.
- Prepare for the unexpected; if you’re ready for it, it will be easier to deal with.
- Don’t be afraid to ask for advice! An adviser can help you better understand your needs and the solutions available to you.
- Create a realistic plan to meet your goals–and make it happen!
Here are a few things to keep in mind:
- A well-rounded financial plan should include savings and investments, along with insurance protection solutions.
- The sooner you get started, the sooner your savings and investments will start working for you.
- An RRSP is a smart way to start saving for retirement, but you can also use it to help make the downpayment on your first home.
- Your mortgage is one of the biggest financial obligations you’ll have–and there are many different ways you can protect it if you’re unable to meet your payments.
- As your family grows, the group benefits offered by your employer might not provide the amount and type of coverage you need.
Financial planning isn’t just for the wealthy. In fact, the best way to get more out of your money is by having a solid financial plan in place.
Courtney Proudfoot is an advisor with Sun Life Financial. She works with individuals, families and business owners to achieve their financial goals. Courtney offers retirement planning, and many savings products such as RRSPs, TFSAs and RESPs. In addition to the wealth products, she can help individuals with life, critical illness and disability insurance, as well as group benefits for business owners.
How Do YOU Define Success?
Have you been as productive as you hoped in January? In case you missed our last issue, claim your copy of Brian Tracy’s Eat That Frog. Jumpstart your productivity now!
“If you don’t design your own life plan, chances are you’ll fall into someone else’s plan. And guess what they have planned for you? Not much.”
– Jim Rohn, American Businessman (1930-2009)
How do you define SUCCESS?
Check out The Success Indicator Poster by MaryEllen Tribby.
Is there some small change you can make to become even more successful in 2013?
Wise Words from Ken Venturi (Broadcaster and Retired Pro Golfer)
“I don’t believe you have to be better than everybody else. I believe you have to be better than you ever thought you could be.”
– Ken Venturi, American retired professional golfer and broadcaster
Get Your Financial Life in Order!
It’s February already! The month of January just seemed to fly by.
Our associates at Neworld Coaching tell us that although 50% of people make New Year’s resolutions, 35% never even make it out of the gate. How are you doing with your resolutions? If you’re not doing as well as you would like, don’t give up! Sometimes all that’s required is a minor adjustment.
So let’s get started and turn over another leaf!
ORGANIZING YOUR FINANCIAL RECORDS AND IMPORTANT DOCUMENTS – Part 1
“Documents create a paper reality we call proof.” Mason Cooley, American Writer (1927-2002)
Do you know where your will or your birth certificate is located? Can you find your house insurance policy?
If not, it’s never too late to get organized. In the event of an emergency, death or disaster, being able to find required documents quickly can make a difficult situation more manageable.
Planning
Plan to set aside a few hours to put your paperwork in order. If it feels overwhelming, break it down into smaller chunks—an hour a week until it’s done.
Getting Started
Start by sorting your paperwork into categories. If you don’t need it, get rid of it. Remember that 80% of what you file you will never look at again. Reduce your risk of identity theft by shredding any documents containing your name, address and/or account numbers. Label files so that you will be able to find items when you need them. Create an Action file for any items requiring your attention.
Insurance Documents
Whether it’s your house insurance, car insurance or life insurance policy, insurance documents may be required if you need to make a claim.
Will and Powers of Attorney
The original copy of your will may be at your lawyer’s office, but you should know where your copies are at all times. A family member, close friend and/or your executor should also know where your will and original powers of attorney (medical and financial) are kept. In the event of an accident, illness or your death, they will need these documents.
If you don’t have a will or powers of attorney or you haven’t gotten around to updating them, don’t put it off. Add it to your to-do list, and look after it as soon as possible.
Birth Certificates, Adoption Papers, Marriage Certificate and Divorce Papers
Knowing where all of these documents are stored can reduce the time and effort of having to replace them—not to mention the cost.
SocialInsurance Card
It is not advisable to carry your SocialInsurance card in your wallet. Your card is usually only required for employment and investment purposes. Leaving it in a secure location at home eliminates the possibility that it may get lost or stolen.
Passports
Do you know where your family’s passports are? Remember to store them securely, so they aren’t stolen in the event of a break-in.
Safety Deposit Box Key
If you have a safety deposit box, do you know where the key is?
Storage
Store your records in a filing cabinet, storage box (plastic is preferred over cardboard) or a home safe. They are worth protecting.
Reward Yourself
When you’re done, don’t forget to reward yourself for your hard work! Investing the time to put your records in order will be worth the peace of mind!
Got Income Taxes on Your Mind?
If filing your 2012 Income Tax return is on your mind, check out this list of important 2013 TAX DEADLINES that you can’t afford to miss.
Paying attention to these key dates could save you a lot of money!
Healthy Eating for 2013
Have you resolved to eat more healthily this year? If overeating during the holidays was on your agenda, one of your resolutions may be to lose some weight. Let Canada’s Food Guide help you make healthier food choices.
If your objective is to Eat Better, Feel Better or Look Better, check out SparkPeople. It’s a website which allows users to track their food intake, workouts and weight. 
Find out how we helped our client Martine!
“I felt overwhelmed until Cathy of A New Leaf came to my rescue. I had lived in my house for 26 years and wanted to put it up for sale. Every nook and cranny was filled with stuff. I didn’t know how to begin.
Cathy is extremely well organized and meticulous. She came promptly each day with a smile on her face. Together, and with Cathy’s resourcefulness, we were able to separate things into piles for keeping, donating, recycling with little left for garbage. I was finally able to put my house on the market!
I would highly recommend A New Leaf if you are looking for some professional assistance organizing.”
Martine V.
Thanks for reading…
P.S. CLICK HERE to read more testimonials!
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