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4 Letter Words. Hope, Help, Pride, FEAR

Paul • January 27, 2021

Hope and Help are more than 4 Letter Words

A recent testimonial inspired me to consider Hope and Help.


Hope

Hope is comforting but alone it is ineffective at improving a challenging situation.  Hope is the inspiration for commitment.  Committment is hard especially without a strategy.  A few strategies that are connected is a plan.  I'm a planner I know this to be true.  So hope inspires, Inspiration commits, commitment becomes efficient with a strategy, and a few strategies connected is a plan and a plan is how to get from where one is at to where one wants to be. 



Help

Help is the application of external efforts to make a person's effort/commitment  and strategy more effective than it is without help.  Why wouldn't a person who is truly committed to improvement want more effective results?  Sometimes the journey is more important than the destination.  Sometimes the person imagines themselves to be the kind of person who is superior to others who would require help.  Sometimes the imperfection of the task is humiliating or simply private. 


Pride

Strong conviction/belief in who a person presents themselves to be in the world.  Knowing ones identity.  Ego is who a person imagines themselves to be.  Unconsciously, people make decisions to support the person they imagine themselves to be.  Its normal.  The challenge is when those decisions are contrary to their own best interests often due to the span between imagination and reality. 


Creating an emotionally non judgemental "safe space" where truly sharing who one is trying to be from who they are now is a sacred trust of pure courageous vulnerability.  That's the daily grind as the best of the best financial planners. 


Fear

Money and finance is taboo subject, carrying issues of deep seated resentment, fear, worthiness insecurity and inadequacy.  The Fear is masked in false humility, making poverty a virtue and healthy ambition sinful.  Knowledge often helps with fear, but confidence through experience is a cure for fear, turning it to nervous anticipation and excitement.  Fear and pride are deadly cause inaction (Flight, Fight, Freeze) or worse.   


The Bottom Line

Financial Planning is about creating better choices over time.  Changing the circumstances and limited perspectives that are normal responses to life's ups and downs.  Its about empathy, understanding and a commitment to our clients to navigate and offer better solutions for more effective results.  Borrowing experience, confidence with true integrity is what happens in a financial planning relationship. 

LET'S CHAT

Earning is inevitable. No planning involved. Retaining, deploying compounding, leveraging takes planning. Time efficient, risk efficient. 
Is it possible to accomplish:
· In less time?
· More in the same time?
· This goal more reliably?
· This goal more consistently?
· What would it take?
· How to get what it takes?
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Does your Advisor see you like this?

By Paul Dwyer • December 12, 2020
Friendly Advisor? So what? Used car salesmen, realtors and lawyers are friendly too. Are you getting value for the fees you're paying? How do you know? it's a question of relative not ABSOLUTE VALUE. Financial planners are paid to plan? Even up to 5 years ago planners were compensated by the sale of investments , and they performed planning services for free. That's completely opposite today. Because of computer literacy, and the internet... all ages and stages of society have direct access high quality investment strategies, with or without a plan. Are you getting planning value? Is your financial plan still relevant? How would you know? Fees... Touchy subject? Not if you're keen on the comparative value versus alternatives. The TRUTH is. Relationship quality is a binary qualifier, and not an indicator of value . Friends - should be and are - FREE. Not all Advisors are the same. They vary in: Qualifications and Professional Development Experience Platform Specialization COMPETENCE WORK ETHIC ASSOCIATED LICENSING. Advisors may also have different capacities based on their Dealer or Brokerage. Access to: Experts Suitable Products Pricing Related Services Independent advisors are unbound and able to seek planning tools, experts, and premium products services and strategies and more. This January... when you open your Investment statements... Find out what your Fees are and get mad enough to seek better value elsewhere. or... Not. Its a question of Relative Value... Paul

Professional Corporations Year Enders

By Paul Dwyer • December 12, 2020
Planning Is Important... At this time of year, finishing up with a good grip of your basic numbers for planning next year is CRITICAL. As a Professional Corporation, planning your tax obligations and Pandemic support qualification. are just a few areas where Knowing your basic numbers are critical... Take the time get close and personal with your business. We're here if you need to ask questions or just talk an idea through. Salary and Dividends Mix... TOSI - Tax On Split Income - demands reasonable wages be paid to family staff members. There's a Schedule at this link. PWC Year End Tax Tips . Be sure and consult your qualified professional before any tax strategies are implemented. Passive Investments in your Corporation.. PIT - Passive Income Tax, within your Corporation is a serious issue. Staying under this year's threshold is critical. While its late, its never too late... and you're better off knowing where you stand than not. Check out the PWC Year End Tax Tips to be clear. Pandemic Response... CEWS - Canada Emergency Wage Subsidy CEBA - Canada Emergency Business Account (interest free loans) CERS - Canada Emergency Rent Subsidy and more. See the Federal Government's Guide Here . Again seek guidance from your professional advisor to be certain what you should be aware of Depreciation and Operating Expenses... Amortization, CCA, or Depreciation is a deductible expense. You should have an understanding of what your deductions are on Capital Assets annually. This informs you of budgeting for other programs like Employee Benefits and Elastic Expenses. And while you're at it. Call your Business Insurance Broker. Tell them you love them and ask for a Claims Experience Letter - Just for file purposes. It serves to remind your broker that you are always evaluating their value... (Keeps them on their toes) and it keeps you informed of how all insurers see you, just in case there's a mistake on the file you'll know it. Happy Year End. Paul
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