Mapping out a life of YES
At Sea Glass Wealth we love summer. We’re grateful to live in one of the most beautiful corners of the world. People travel from across the globe to enjoy our hikes, beaches, lakes and attractions and we get to live here, soaking it all in each day. Summer is also a fun time to be a financial advisor. Throughout the year, the Canada Revenue Agency (CRA) dictates a lot of our communication like income tax filing, year-end tax planning and RRSP contribution deadlines but the summer months tend to be more flexible. This means we’re able to have open, less structured conversations with clients. We check in on financial priorities, re-visit values and plan for the next objective or long-term goal. The summer season is a chance to plan and do your future self a favour; it’s a time to be strategic so your future self is able to say yes when an opportunity arises or to stay calm when challenges arise.
Work Smarter, Not Harder.
This summer, the theme of working smarter not harder has been a hot topic. We’re chatting with a lot of clients who are looking to retire early or change the way they work in order to prioritize their lifestyle and leisure. We’re looking forward to chatting a lot more about retirement, careers and work over the coming months. We’re seeing clients who want to enjoy their work more, blending work life balance while being profitable.
Inflation is real.
Another theme we are hearing a lot about is one we’re all feeling. Rising interest rates alongside the increasing cost of living in Canada have many clients working strategically to live well on less. Periods when inflation is high are great times to be planning. We encourage all of our clients to be realistic about increasing costs. ‘Don’t turtle,’ we say. Turtling, or hiding your head in the sand, especially if you’re in a fluctuating or inconsistent industry, will not serve your future self. It’s essential to plan for tough times as we know they’re going to come. Whether it’s a personal hardship like an injury, or job loss or whether it’s increasing interest rates, unexpected costs should never really come as a surprise.
Map out your life.
As we plan for the future, we use those values we talked about as anchors. We look at possible detours, peaks and valleys your journey may encounter. We map out how to maintain (or accelerate) the lifestyle and leisure you’d like in your life. As a team that values lifestyle strongly, this is always a factor in our client discussions. Maintaining a consistent level of freedom and joy in your life will support other areas of your wealth wellness such as health and family. Lifestyle and leisure can impact your longevity, success and fulfilment.
When times are really good it’s a great opportunity to be putting away the money for times you’ll need it. This is especially true if your employment and income generation is cyclical or inconsistent. We advise offering your future self a gift by planning ahead for tough times so that it’s not as stressful when these times arrive. And on the flip side, we want to position our clients to be able to say yes, and not be held back from experiences, large purchases or responsibilities due to finances at any time in their lives.
Be your own boss (even if you have an actual boss)
We talk a lot about creating a life you don’t want to retire from. This includes a life where you work because you want to and the way you want to, not because you must. Even if you’re employed by a company we encourage clients to think like they’re their own boss. It’s your decision to be employed by that company so when you’re negotiating your salary, it’s the same as an entrepreneur negotiating a contract. You should never feel trapped. Your values must lead these decisions.
Any time you can reduce stress for your future self, you’re benefiting your finances, your health, your relationships and more – whether that’s changing your work environment or saving strategically because you know something’s coming up. If you have a job that’s unpredictable in terms of income and cash flow, you can plan for all of it. Mapping out your life, anticipating detours, delays and disruptions, but maintaining the capacity to prioritize lifestyle and leisure is key. This will also put you in a position to say yes, when unexpected and exciting opportunities present themselves.
Life detours aren’t always bad.
Whether it’s a job transfer to Europe, a surprising home availability in a neighbourhood you love or an unplanned pregnancy, life can throw some fun detours your way in addition to the negative ones so it’s important to prepare for both and pace yourself. When you’re burnt out you can’t be in a position to enjoy the good things even when they’re presented to you. This is the reason we encourage budgeting for lifestyle and leisure in a sustainable, consistent way. Ensuring time for peace and play offers fuel to succeed in career and work, family and relationships as well as health and wellness.
There’s a lot of joy in ‘yes.’
Planning out your finances and mapping out your desired life offers the comfort to approach detours with confidence.
As the last few weeks of summer wind down and the evenings get cooler, enjoy the freedom to plan for your future before it happens. Allow yourself to dream about what will fill your ‘lifestyle bucket’ over the coming months and into next summer. What do you want your future to look like and what can you do now to make that happen?
Take advantage of these months without CRA-imposed deadlines, get in touch with Tracey and Kristina and make time to talk about mapping the life you’ve been dreaming about.
https://seaglasswealth.com/contact/
We are looking forward to the opportunity to meet you! For more information, please feel free to reach out.
- Check out our upcoming events.
- Contact Us for more information on Sea Glass Wealth Advisory Group.
- Find Tracey on LinkedIn and Facebook.
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