Protecting what you work for


Safeguarding your family’s lifestyle with insurance

When you first started working, you may not have given insurance a second thought. However, as you enter your peak earning years, you have a lot more to protect. It’s likely that you and your family depend on your salary for the lifestyle you enjoy – and life, critical illness and disability insurance can help protect that lifestyle if you are unable to work.

The number one cause of bankruptcy in Canada is an unexpected and uninsured illness or injury. That is why I placed “Regulate Risk” as number 2 in my Six Steps to Financial Freedom. If you haven’t already subscribed to this page and received your free copy of my e-book of the same name you can request it here.

There is a lot of confusion about the various types of personal risk insurance on the market so here is a quick primer of the three most common types of insurance and how they work. Contact us any time for more information or to schedule a FREE, no obligation consultation.

Life insurance

Life insurance is important for everyone, especially if you own a home, have children or are responsible for other family members. How much you need depends on factors such as you debts (e.g., your mortgage), education goals for your children and other income needs. Here are two of the most common types of life insurance:

Permanent life insurance (also known as whole life and universal life) provides protection for life, as long as your premiums are paid. In some cases, you can accumulate a tax-advantaged investment or cash value that may increase the amount you leave to your beneficiary.

Term life insurance provides protection at a guaranteed rate for a specific period of time, typically 10 or 20 years or to age 65. The policy is renewable at the end of the term, though the rate will be higher. This type of insurance is often used to cover a financial obligation that will disappear in time, such as a mortgage.

Critical illness insurance

Even though survival of heart attacks, strokes, cancer and other critical illnesses is increasing, recovering from such setbacks often requires weeks or months away from work. Extra costs, such as alternative treatments and accessibility modifications to your home, may not be covered by your provincial health plan.

Critical illness insurance provides a one-time cash benefit if you’re diagnosed with one of the conditions defined in your contract. The benefit can help support the day-to-day needs of you and your family while you take the time to access treatment get well and return to work.

Disability insurance

Relatively common conditions such as depression or osteoarthritis may prevent you from working for a period of time. So can a serious car crash or back injury.

Disability insurance provides monthly benefits to help replace your salary or wages after an accident or illness. This type of protection is especially important if you job is your family’s primary source of income or if you run your own business.

Do you have enough coverage?

Keep in mind that, even if you have insurance through a benefits plan at work, it may not be enough to maintain your family’s current standard of living in the event of your death, critical illness or disability. An individual policy can help top up your benefits – and stay with you if you change jobs.

Check out the insurance calculators provided on our product pages to find out how much insurance you may need and the potential costs. Contact us any time to schedule a FREE, no obligation consultation.

The Last Taboo


Why It’s Time to Talk About Money

In part, taboos are social and religions customs that forbid discussion of a particular practice. But as societies evolve taboos need to be broken for proper knowledge and wisdom to flourish. These days people seem more willing than ever to share personal details. The internet and social media make it easy to broadcast our lives to friends, family and even strangers. But one topic remains firmly taboo: money.

Modesty is one thing but whether it’s how much you make or what you paid for your car, cash to be a conversation stopper. We are taught early on that it isn’t polite to talk about money – and, if you’re not so comfortable with your own financial situation, discussing it might even feel embarrassing.

But, I firmly believe we need to break the taboo. Just like talking about sex with children can have lasting benefits for society, in the right context and with the right people, conversations about finances can have valuable benefits. They can even by empowering – for example, understanding how others manage their finances can help you make better choices or avoid mistakes. And knowing that others face similar monetary challenges can help you realize you are not alone with where you stand financially.

Consider all you could learn through an honest conversation about money. Perhaps a family member’s success is paying off a mortgage could inspire you to put a debt-reducing strategy in place. Or you might even strike up a conversation about retirement savings – how much are your close friends setting aside every month?

While it’s important to talk about money, it’s not always easy to do. Here are a few ways to get the conversation started and begin to break the taboo:

With your spouse – Open up about your personal histories with money, from how your parents handled it to your first experiences. What are your goals and how can you plan together to meet them?

With your kids – Your children don’t need to know how much you earn, but you can talk to them about wants versus needs and the elements of a budget.

With your family – Introduce new traditions like setting limits around gift giving for birthdays and holidays, or chipping in for something the family wants to enjoy together.

With your friends – Don’t be afraid to let your friends know if something doesn’t fit your budget. Suggest cheaper (or even free) options for getting together that won’t break the bank.

With your advisor – A great person to open up to about money – hopefully that’s me. I can help you understand the different aspects of your finances and work with you to put together a plan for success. Contact us today and let’s get started.

“You Pay Your Bills With Cash”


Book Review –“How the Mighty Fall” by James Collins

I read a book yesterday.

That might not sound like a very big accomplishment and to be honest it’s not.

I read a lot. My goal is to read about 25 pages a day. That works out to an average of one book every 10-14 days or so. I read just about everything I can get my hands on. They can be books about business, philosophy, history, theology, biographies or even the odd novel, the type of book isn’t really the point.

I read to learn. Part of my personal mission as a writer and teacher is to always be learning.

Yesterday I started a new book and was so captivated by it that I read the whole thing, just over 200 pages, in one sitting.

“How the Mighty Fall” by James Collins is a study in failure. It’s a study in how once great companies go from good to great to gone and how some companies can recognize the onset of decline and reverse the trend while others can’t or don’t do the work necessary to bailout and repair a sinking ship.

Collins became famous for his first book, “Good to Great” which is a study in how companies break through mere success to iconic greatness. His follow up book “Built to Last” studied how these great companies are then able to maintain their status over the long haul but within that second study Collins began to notice that some companies, even after a long time of sustained greatness would collapse into irrelevance or disappear completely, sometimes with alarming speed.

Collins claim, based on extensive research, is that there are five stages to decline.

  1. Hubris Born of Success
  2. Undisciplined Pursuit of More
  3. Denial of Risk and Peril
  4. Grasping for Salvation
  5. Capitulation to Irrelevance or Death

Companies can appear to be healthy industry leaders right up until they transition from Stage 3 to Stage 4 but in hind sight the writing is on the wall long beforehand as they arrogantly go about their business under the mistaken impression that they are and will remain invincible. In my work as a Financial Coach both to individuals and small business I see the same 5 stages over and over again. In my experience the tipping point comes in Stage 3, its’ how you avoid or manage risk that is the key to survival.

Towards the end of the book Collins tells the story of Professor Bill Lazier who teaches small business management at Stanford. He begins his course with a case study in failure and asks the class what the central issue was as the company collapsed. These are MBA students that are used to looking at macroeconomic forces and strategic planning so at first the answers he gets are a grand analysis of big schemes and outside forces.

“No! Think!” is Lazier’s response to these egg-head answers. Eventually a student will somewhat sheepishly venture what seems so simplistic that it couldn’t possibly by right this is an graduate class at one of the most prestigious universities in the world after all. They will say something like “they can’t make payroll next week, they are out of cash.”

At that point Lazier will jump up and write in huge capital letters two-feet high, CASH. “You pay your bills with cash! Never forget, you can be profitable on paper and bankrupt at the same time.”

Cash is king. Everyone knows that, especially when you are first starting out in life or business, but as we become more and more successful we can get drawn in to the North American lifestyle of buy now, pay later, so we forget that. When available cash is replaced by access to credit and the whole system get’s flipped on its head.

The key lesson I took from this book is the simple fact that we must pay our bills with cash.

We may be able to buy on credit, we may even be able to extend credit and pay off one card with a different one but all this is a fool’s errand! Eventually you will have to pay – in cash. Buy now pay later is always replaced with pay now or else.

To a large extent the North American way of life was built on what sociologists and historians have dubbed The Protestant Ethic. Max Webber literally wrote the book on it in 1904, “The Protestant Ethic and the Spirit of Capitalism” originally published in Germany in 1905, put words to a sentiment that had been growing in western democracies for over two centuries. Simply put the Protestant Ethic says that time is money and there is honor in any work that contributes to the common good.  In addition, wealth comes to those who diligently work at their given task and spend less than they make.

But another social-economist, Daniel Bell would later note in the 1970s that the Protestant Ethic was dead due mainly to the invention of credit. Bell published his seminal work on the demise of the Protestant Ethic and the rise of capitalism, “The Cultural Contradictions of Capitalism” in 1976 at time when interest rates and inflation were on the rise, and for the first time since the Second World War people were spending less and going deeper into debt.

The Protestant Ethic is undermined not by modernism but by capitalism itself. The greatest single engine in the destruction of the Protestant Ethic was the invention of the installment plan, or instant credit. – Daniel Bell, The Cultural Contradictions of Capitalism

Now, according to Bell you can achieve the trappings of wealth quickly without completing the work previously required to get there. And that contradicts the basics of capitalism and capital allocation. Buy now pay later is just horrible planning and fundamentally wrong both ethically and mathematically.

And so, we come full circle. As a Financial Coach I see it every day. The Protestant Ethic, if not completely dead as Bell would have it, is indeed on life-support, put there by continued access to easy credit. Paying in cash is viewed as a curiosity at most retail institutions and downright discouraged at others. (Ever try to book a hotel room, or buy a car with cash?) In recent years central banks have continually lowered interest rates in order to encourage people to borrow ever more money so that they continue to spend money and keep this giant wheel called the economy moving.

People who refuse to take part in debt fueled spending are dismissed as “old fashioned” and even looked upon by their peers as a bit delusional, to be pitied as folks who just don’t know how to enjoy life. I know, I’ve been on the receiving end of this kind of derision more than once.

But – At that end of the day, as Professor Lazier likes to so dramatically point out to his students – “You Pay Your Bills in Cash!” Staying on top of cash flow is the first, second and last thing every person interested in building wealth needs to get a handle on. Without it you become locked in a perpetual cycle of working for the things you’ve already consumed and continually mortgaging your future for the things you think you want now. You’re taking on more risk than you can handle and you’re teetering on the edge of Stage 4 decline. Once you start grasping at straws in order to stay afloat, the dominos start falling quickly and it’s a short trip to the bottom.

Contact us for more information on how we can help you return to the Protestant Ethic, work hard, save for the future, and get out of debt before you reach the tipping point to stage 4 decline and it’s too late do anything about it.

 

 

 

Under pressure – 3 steps to making things better


Money worries are never far from mind – but did you know they can also affect your health?

Whether it’s a looming deadline at work or a race to get out the door on time, we all get stressed sometimes. But too much stress can be overwhelming – and according to the Canadian Mental Health Association, chronic stress can have an impact on our lives. Being stressed out affects our ability to concentrate and our self-confidence. It can even lead to sleep difficulties, headaches and more frequent illness.

While plenty of things in life may cause us to feel stressed, one of the biggest culprits is money. Before I faced facts and went bankrupt in 2005 I was losing a lot of sleep and it seemed like the headaches would never go away.

And far from just anecdotal, the evidence is strong. According to a national survey by the Financial Planning Standards Council, 42 per cent of Canadians now rank finances as their number-one source of stress. That’s not surprising when you consider how financially stretched we are. As we work to save for retirement and pay for our kids’ education, we’re also dealing with more debt than ever before. As I have noted many times, for the first time in our 147 year history, Canada’s consumer-debt-to-income ratio (total household debt compared to disposable income) topped 163.3 percent in 2014 as we take on debt to pay for homes, cars and vacations.

And these money worries are affecting our health. A recent study but Manulife and Ipso Reid shows that financial stress can take a toll on our mental and physical well-being – and even affect us on the job. Here are a few key findings:

  • 76 per cent of those who report high stress levels say the state of their finances is partly or entirely to blame.
  • Highly stressed individuals are significantly less likely to be motivated to do their best at work or feel they have a healthy work-life balance.
  • Those who are very comfortable with their current financial situation are almost twice as likely to say they are very happy and are 1.5 times more likely to report that they are in good health. They are also more likely to be exercising regularly.

While being in poor financial shape can cause a lot of anxiety, (I know, I’ve been there), the good news is there are ways to help fix it. In fact, making improvements to your financial health can have a positive impact on your personal well-being. If you’re feeling stressed because of money issues, here are three steps you can take to help make things better:

 

  1. Face it. Finding money to contribute to your retirement savings or dealing with a drawer full of unpaid bills can seem like monumental tasks. Even today, over a decade later I struggle with this one, it’s easy to set your bills aside and forget about them, especially if you don’t have the money right now. But if I don’t stay on top of my bills I know that there will be a painful reckoning in the not too distant future. The longer you ignore your financial situation, the worse your stress is likely to get. Facing the issue is the first step towards improving matters and alleviating your stress. Open up to your spouse, your advisor and others who can help you take control of your finances. Once you know what you’re dealing with, you can begin to tackle the issue head-on.
  2. Make a plan. Having a concrete strategy in place, such as a debt repayment plan, can help you feel more positive and in control of your future. I can work with you to assess your goals and put together a step-by-step plan to achieve them. Step one of my six steps to financial freedom is Dominate Debt.
  3. Have fun. Whether it’s a walk in the park or a nice dinner at home, make room for relaxation and fun. Laughter and friendship are excellent stress-busters. Find low-cost or free ways to let off some steam and enjoy life.

Remember: your finances don’t have to drag down your health. If you address your money worries, you might just find you have a lot more to be positive about than you thought. In fact, talking to someone and taking steps towards financial wellness can lead to a happier and healthier you.

Contact us today and start taking control of your finances for a better tomorrow.  Or as I say around here nearly every day, “Take Action Today That Your Future Self Will Thank You For.”

Self-employment – With Benefits


Health and dental insurance helps to protect your business’s most important asset: you.

Canadians are increasingly turning to self-employment as their means of earning a living. Over the past 25 years, the number of self-employment people in this country has risen from 1.8 million to 2.7 million. In March 2015, more than 15 percent of working Canadians worked for themselves. (These numbers according to Statistics Canada June 2015 historical summary of self-employment data)

Being your own boss comes with many benefits, including the freedom to manage your own schedule and make final business decisions. Self-employment doesn’t, however, come with “benefits” – such as paid vacation time, a retirement plan and a health and dental plan.

I have personally been self-employed my entire adult life. I know better than most that it can be a trade-off. Self-employed Canadians have to save up for their vacations, invest towards their retirement and hope with fingers crossed that their out-of-pocket health and dental costs stay manageable. But when unexpected things happen, like a long term illness with expensive maintenance drugs it can put a real crimp in your financial plans.

Such an Illness, and the more than $300 per month prescription drugs that came with it were partially responsible for my bankruptcy back in 2005.  However, solutions are available to help people in this situation get the health benefits they need.

Plan for routine costs and unexpected expenses

For some self-employed people, purchasing individual health and dental insurance may be a good way to cover routine costs that fall outside provincial health plans. Every year, many Canadians spend hundreds of dollars on dental visits, eye care, prescriptions and services such as massage therapy and physiotherapy. According to a 2013 Statistics Canada report, the average Canadian household spent about $1,662 annually on direct health care costs.

Perhaps even more importantly, the right package can help provide protection from the financial impact of unexpected expenses. You may need dental surgery. A child may need braces. A family member may require ambulance, home care or nursing services.

Having health and dental benefits in place that meet your needs can go a long way to help alleviate the stress of unexpected expenses. When choosing coverage, look for:

  • Affordable rates that fit comfortably into your monthly budget
  • A customizable plan that lets you choose different options
  • Easy claims processing so you don’t have to deal with more paperwork

Give us a call

Being self-employed doesn’t mean you have to do without health and dental benefits, like I did for nearly 20 years.  Talk to us about what’s available, what it covers and what it costs. You may be pleasantly surprised by the price of a package that provides effective protection for yourself and your family. Not the mention the extra loyalty you may be able to engender with your key employees by extending some benefits to them as well.

Individual health and dental insurance is a safety net – reassuring every day, and important in a crisis. It’s a valuable “perk” to add to the others more commonly associated with the freedom of self-employment. And it just might prove to be the difference between continued self-employment and bankruptcy.

Contact us for more information on how to incorporate a health plan into your business.

The Karpman Drama Triangle in Financial Practice


A psycho-analytic study of the roles of Creator, Challenger and Coach as they pertain to Financial Planning

karpmanAs Financial Planners we at Sheil Insurance and Financial Services have had to become students of human behaviour. What follows is a detailed study of the psychology of transactional analysis and the so called Karpman Drama Triangle with specific reference to the ways in which the various roles and interactions play on one another and influence the ways in which we buy, sell and plan for our financial futures. This is a bit of a departure from what we normally publish in this space so please forgive both the length and depth of this post. As a Financial Planner and self-styled financial life-coach I feel it is important for clients to understand the interplay of personal psychology in the work we do here. I will return to a more personal, practical and hopefully shorter post on Saturday.

The drama triangle is a social model of human interaction which maps the type of potentially destructive interaction that can occur between people in conflict. It was originally conceived by psychologist Dr. Steven Karpman and published in 1968. Karpman was a part-time actor and member of the Screen Actors Guild while studying psychology and therapeutic counselling under Dr. Eric Berne, the father of transactional analysis. Legend has it that after reading the novel “Valley of the Dolls” Karpman conceived of the triangle with the role of victim at the bottom point, a persecutor at the top left and a rescuer at the top right.

The novel, written by Jacquelin Susann and published in 1966 tells the story of three relatively unknown actresses who meet and work together in New York City. The story tracks their careers over a 20 year period of highs, and lows fueled by poor choices, toxic relationships and substance abuse. After Karpman explained the story and the triangular interplay of the characters to Berne a whole new school of psycho-therapy, based on human interaction was born.

Simply put the Karpman Drama Triangle theorizes that people in conflict play one of three roles. They are either: the Victim, the Persecutor or the Rescuer. While we all tend to gravitate to one or another of the roles, it is possible for the roles to change depending on the situation. More importantly however, each role needs the others in order to function.

The victim lives by the mantra, “poor me”, and feels oppressed, hopeless, helpless, powerless and ashamed and seems unable to make decisions, solve problems or take any pleasure in life. Most importantly, the victim, if not being actively persecuted will seek out a persecutor in order to justify their feelings of hopelessness and general lethargy and also try to find a rescuer in order to avoid making any positive change on their own.

The rescuer’s mantra is “let me help”. They are the classic enabler. They need the victim just as much as the victim needs them in order to feel self-worth but the real motive of the rescuer is for a feeling of superiority over both the victim and persecutor. “Without me to hold the persecutor in check and helping the victim through their troubles the whole world would go to hell.” Or so they think. The fact is, in most cases at least, the rescuer has defined help incorrectly and given the victim permission to fail through their constant rescuing. In focusing all of their energy on the trials and tribulations of someone else they also tend to avoid their own problems.

persecutorThe persecutor is not evil; controlling, blaming, critical, oppressive, angry, authoritative and arrogant perhaps, but not evil.   The persecutor is often more fed up with the failings of the victim they are actively pursuing their downfall. Their mantra is; “it’s all your fault”. The persecutor is in many ways the antithesis of the rescuer but these roles are often interchangeable as the rescuer experiences burn out or the persecutor softens his heart when reminded of his own potential to be victimized.

In fact all of the roles are interchangeable and we tend to play them in varying measure throughout our lives.

What does all this have to do with financial planning? Stay with me, I’m getting there.

While the Karpman Drama Triangle was originally conceived as a way to analyze interactions in conflict and developed in group and family therapy sessions that centered around issues of codependency and substance abuse, in more recent years it has begun cropping up in the analysis of more co-operative efforts as well. In 1990 Alice Choy published “The Winner’s Triangle” in which the roles were renamed vulnerable (victim),   assertive (persecutor) and caring (rescuer). The thesis of the winner’s triangle being that conflict can be resolved when the actors begin to see their roles and each other’s roles in a more positive light. But the winner’s triangle is still about conflict.

It wasn’t until 2009 that the Karpman Drama Triangle was reconfigured in a completely positive light and turned into a tool for collaboration. The Power of TED (The Empowerment Dynamic) released that year is a self published work by David Emerald. (Not to be confused with the TED conference; which stands for Technology, Entertainment and Design) Emerald is an executive coach who has spent his career working with corporate clients developing collaborative teams that have helped thousands of companies achieve stunning success. In The Power of TED, Emerald encourages readers to think of themselves and each other as either: creators (victims), challengers (persecutors) or coaches (rescuers) and in the process shed all the negative drama.

creatorThe creator is encouraged to become outcome oriented as opposed to problem-oriented. The challenger is encouraged to ask questions and push the creator to clarify their needs, focus on resolving tension between current reality and an envisioned goal and take incremental steps toward a desired outcome. The coach is encouraged to ask both the creator a challenger a different type of question intended to help everyone make informed choices. The key difference between the coach and rescuer is that the coach sees the creator as capable of making his own choices and solving his own problems and he sees the challenger as an ally in this process, not an adversary. The coach asks questions that enable the creator to see the possibilities of positive action, to focus on what they want, not on what they don’t want.

So what does all this have to do with financial planning? I’m glad you asked!

Financial planning is a collaborative process.  At Sheil Insurance and Financial Services, Emerald’s Empowerment Dynamic forms the framework of our day to day interaction with all of our clients.

We view our clients as creators – our business plan calls our ideal client a “person with big dreams and an even bigger heart, who may or may not have experienced financial hardship in their past”. It’s easy for people like that to play the role of victim, beaten down by circumstance. “What’s the point of dreaming if we can’t even keep our bills paid?” It’s our job to help you see beyond your present situation, visualize a brighter future and help you find the tools to get there.

If you haven’t already guessed, we view ourselves as your coach.

Challengers come from every angle. They could be a bill collector, a family member or your boss. They are generally people who just don’t have the tools or the patience to help you out of your financial predicament. They also tend to be people who need something from you, a bill paid, your time or other physical task completed. But challengers don’t also come in the form of human beings; they could also take the form of a medical diagnosis, a lack of available work or any other circumstance that is causing hardship and difficult circumstances.

The client’s role as the creator is to look for and implement solutions to the problems the challenger gives them. Our role as the coach is the make suggestions, provide tools and stand on the sidelines giving encouragement. A good coach is at once a devil’s advocate, mentor, personal assistant and cheerleader.

winning coachHave you ever watched the Super Bowl? Who cheers the loudest in the last seconds and leads the charge onto the field in the moment of a victory? That’s the coach! And that’s us when you reach your financial goals. Nobody celebrates like a victorious coach.

In 2005 our founder, Lauren C Sheil, filed a consumer proposal in bankruptcy.  It took him 4 long years to pay off that debt and get discharged and a few more years to get on a solid financial footing. Now, a decade later, we have not forgotten the pain, mental anguish and personal shame that come shrouded in debt.

In many ways hiring a financial planner is like finding a coach. Good coaches are the ones who have played the game. The best coaches are the ones who have both won and lost, understand the difference and can see the warning signs well in advance of a spectacular loss.   At Sheil Insurance and Financial Services we’ve been there, we get it, and we can coach you through it.

Contact us for more information The Karpman Drama Triangle and how our planning approach can help you achieve financial success.

3 Undeniable Reasons Why Dividend Paying Funds Matter


Benefit from the power of dividends

monopolycard

In the game of Monopoly there is a card in the Chance deck that gives the player a free $50 windfall while selected.  It’s a fun way to essentially get money for doing nothing.  In the real world receiving dividends on investment money you’ve already set up is kind of like that, you don’t need to anything other wait for the company you hold stock in to pay you for the privilege of having you as a stock holder.

It’s not quite that simple but I offer a broad ranging suite of dividend and income products that access quality companies across all sectors and countries, these products are designed to harness the income and growth potential of dividends and emphasize solid long-term risk-adjusted returns.

While prices of stocks can fluctuate widely based on changing economic circumstances, dividends represent a stable source of income. These returns can be received in cash or reinvested in additional shares – the compounding effect of reinvestment over time can be very powerful – and I highly recommend all of my clients take this option.

Dividends work

 

Dividends are one of the simplest ways for a company to demonstrate its strength and stability. Historically, companies with a history of paying – and increasing – their annual dividends have outperformed the market. Moreover, studies show that companies with a focus on dividends can achieve higher earnings growth, which implies higher valuations and price returns for investors.

The dividend fund advantage

 

Here are, in my opinion the 3 Undeniable Reasons why dividends and dividend paying mutual funds and segregated funds should matter to you as an individual investor.

1 – Diversification

 

dividendsjpgBy having a suite of dividend funds, investors can tap into the $1 trillion in dividends paid globally each year. Investors benefit from expanded choice and diversification across different industries and countries.

2 – Dividend funds are less volatile than the market

 

Dividend and income equity funds have had greater returns with less volatility than the market over the long term.   In the last 20 years, up to June 2015, Canadian dividend paying funds averaged a return of 9%, versus approximately 8.3% for the S&P/TSX Composite Index and 7.2% for general Canadian equity funds over the same time period.

3 – Fund pairing

 

A diversified portfolio helps to capture opportunities and manage overall risk. There will be times when part of a portfolio is performing well while other parts lag. Creating a mix of dividend and income funds may enhance diversification, allowing for an improvement in the overall risk/return characteristics of your portfolio.

 

What Should You Do Next?

 

  • Review your fund choices to assess the level of value being provided over the long term
  • Consider incorporating the use of dividend funds as a way to potentially enhance portfolio risk-adjusted returns and improve overall diversification to provide a sustainable income.
  • Implement an appropriate strategic mix and capitalize on the benefit of holding dividend and income funds within the overall portfolio

 

Contact me at any time to scheduled a personal risk assessment and investment consultation.