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You Shouldn’t Need Permission


On a recent Friday afternoon investment review phone call with an older clients in western Ontario, they mentioned that they were probably going to cancel the dream vacation they had been planning. European cruise, visit relatives possibly for the last time, create many memories. I was not happy to hear that and probed a little deeper. They were 82 (which is the new 62) and had some health issues, but assured me they felt fine now.

 

It soon leaked out that the concern was uncertainty about spending money. To them the cost just seemed too high. They should continue to save. But save for what? To put it in perspective, the trip would consume less than 2% of their investment account. My advice was to have two glasses of wine that evening instead of the usual one, and think about our conversation. It was very gratifying when they called on Monday to say they were taking the trip and thanked me very much.

 

The financial industry has many phrases to describe your returns. Return-on-income, return-on-equity, return-on-capital, return-on-assets. But all of these formulas are designed to keep your money locked up. The banks never want to give any of your money back. Here at Salute Financial Entrepreneurs, one of our key measurement tools for success is Return-on-Life

 

You see life is not a dress rehearsal for a more significant future event. This is it. And no, it’s likely you won’t be remembered either. 100 years from now nobody will ever know you were on the planet. So we encourage clients to make a more meaningful connection between their money and their life. Wealth creation is only the first step. Then you get to invest in yourself. And finally you invest in family and charity. You don’t need permission. Do all of these things today.

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The information provided here has been prepared by Randy Cleary, Portfolio Manager at Salute Financial Entrepreneurs/Aligned Capital Partners Inc. and is provided as a general source of information. Some of the information provided herein may come from sources believed to be reliable, however, we cannot guarantee its accuracy or reliability. The views and opinions expressed are those of the author and not necessarily those of Aligned Capital Partners Inc. Furthermore, this material is not to be construed as an offer or solicitation to buy or sell any securities that may be mentioned here. The securities mentioned may not be necessarily be considered to be suitable investments for all clients. Please contact your investment advisor to discuss your individual investment needs. Aligned Capital Partners Inc. is a Sponsoring Investment Dealer and Member of Canadian Investor Protection Fund and of the Investment Industry Regulatory Organization of Canada.

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