1. Setting Goals and Sticking With Them

Identifying what your long and short-term goals are is not altogether simple. It doesn’t really matter how old or young you are in this process. Reflection on what you would like to accomplish with your finances is not often done. What makes one person over another more successful whether it is at work, at the gym, on the golf course, etc.? Generally speaking it is usually a clearly defined focus on what they want to accomplish, their goals. Setting them is the easier part of the process; it is the sticking with them that usually becomes difficult. By identifying what you would like to accomplish with your hard earned money, we can develop the road map to get us to the finish line.
I can help you with this process.

2. Using Other People’s Expertise

There is a lot of noise out there in the world nowadays. We have access to information like never before. We just have to Google it! 24/7 we have news programs on T.V. showing in distinct images things happening around the world. In the investment world, product manufacturers are creating new ways to attract your business. What is good? What is not? You want to build your own team around you which would include, Financial Advisors, Accountants, Lawyers, etc. You are the CEO or “You Inc.” My job is to filter out the noise, taking you back to your investment goals, and to identify the best type of products, managers, to meet your needs.

3. Sing Other People’s Money

The concept of borrowing to invest is a strategy employed by Governments and Businesses around the world. We take this down to the individual level and incorporate it, where appropriate, to a clients’ situation. If you are a homeowner, it is likely, that you have already done this via a mortgage with a bank. With tax benefits by doing “Leverage”, you can get a lump sum of money working for you today. This strategy is not for the faint of heart, and in my practise, you must meet a strict set of parameters before this would ever be employed in your investment portfolio.

4. Think Long-Term and Quality

The investments you hold should be of the highest quality. Chasing trends or trying to time the markets generally does not work. If you buy into businesses that have monopolistic characteristics, high barriers to entry, with good cash flows and pay steady dividends, you are likely to have more success. Taking the market gyrations out of the equation by removing the emotional decisions and treating your investment portfolio like a business will prevent the mistakes too many make. Good quality, well managed
businesses with strong business fundamentals generally will grow over the long-term, regardless of market fluctuations.

5. Pay Yourself First

Many, many years ago, David Chilton wrote a book called “The Wealthy Barber”. The book has many excellent strategies and ideas. The most important one, to me, is the concept of paying yourself first. This idea, as simple as it is, basically states, you should put 10% of your GROSS income away for the future. So, if you make $50,000 per year, $5,000. If you make $100,000 per year, $10,000. Creating a “Forced” savings plan for yourself, whereby, once you get started on this path, you stop missing the money you are investing/saving for the future. Over time, as your income hopefully goes up, you increase the amount saved. This goes hand in hand with debt management as well.

I would be happy to expand on the Five Principles listed above. I am confident that should you incorporate these principles into you day to day life, you will be successful over time, achieving all of your financial goals and dreams.

Using borrowed money to finance the purchase of securities involves greater risk than a purchase using cash resources only. If you borrow money to purchase securities, your responsibility to repay the loan and pay interest as required by its terms remains the same even if the value of the securities purchased declines.