There is no better time to invest than right now. This question is one that all financial advisors get asked all the time. When is the best time to plant a tree? The answer: Today! If you wait, you will delay harvesting the fruits from your tree. Same with investing, most people are waiting for the best time to invest…it’s not about timing the market but time in the market. Many of the wealthy know this and here is a great article from the Globe and Mail outlining four things we should learn from wealthy people.
1 – SAVE
2 – INVEST IN YOURSELF
3 – IGNORE THE NOISE
4 – THE POWER OF COMPOUNDING
All of these four things have one thing in common and that is: They all need time! Wealthy Canadians have a long-term plan in place with respect to their businesses or their investment portfolios and they simply ignore the noise.
"There is never enough time to plan but there is always enough time to do it over!"
Having your own plan in place is very important since it’s the road map to your financial success. The plan will change over the years, since it’s only the road map to your destination. Life changes and so will your plan, maybe even your destination. Having more time and using the power of compounding interest is to your advantage. Starting early, you can put aside less money and invest a little more conservatively. Instead of starting later and having less time to save money. By waiting you will need to put more money aside and be more aggressive in your investing style in order to catch up.
There is no magic formula, just consistency and discipline, education is the key. I love building a relationship with my amazing clients while we develop a plan together and we adjust the plan as things change. Many of my clients know I’m available to answer any questions, even after business hours or even on the weekend. Don’t wait any longer to put your financial road map on paper, let’s grab a coffee and let me simplify this for you!