Wednesday, 4 October 2017

The Trade Off - What's On Your Mind? - October 2017 Edition

When did we lose our way? I am a baby boomer. Growing up life was simple. We didn't have much, we didn't want much, and we certainly didn't expect much.  Today with social media, radio, television, we are inundated with advertisements of what we should want.

With 47% of Canadians living pay to pay, when did we get lost with what we wanted instead of what we needed?  Today it is a balancing act to get what we want, get what we need, using all that we got.  

So using all that we got, we now find ourselves in a position of living with massive debt. Those 47% of Canadians living pay to pay would find themselves in a financial pickle if their pay were delayed by even one week.

What happened and how do we change this?  This is where the trade off happens. You have to go back to basics. Start going over where all the money is being spent and where a lot of expenses could be cut.  Start by listing the expenses of what you need. These expenses would be food, shelter, clothes and transportation.  The rest of what you're spending your money on, you need to take a hard look at. No more keeping up with the Joneses. What's important is a happy family. The family is happier with little or no debt than the stress of living with a lot more useless stuff and the stress of massive debt.

Think about what's important about money to you and make some changes in your life today. The ultimate goal should be happiness and living a debt-free life.

Linda J. Levesque, CFP®, FMA, FCSI®
Sr. Investment Advisor
Director, Private Client Group
HollisWealth, a division of Industrial Alliance Securities Inc.
Levesque Wealth Planning

Insurance Advisor
HollisWealth Insurance Agency Ltd.

One Corporate Plaza, 2075 Kennedy Road, 5th Floor, Toronto, ON M1T 3V3
Tel: 416-412-8018 / 1-800-322-4030
Fax: 416-332-6772

‘Saving Today for a Richer Tomorrow’™

You can, as long as you include this complete statement with it: Linda J. Levesque, Senior Investment Advisor and Director, Private Client Group of HollisWealth is an author of The 5 Minute Wealth Plan, Saving Today for a Richer Tomorrow, in The Road to Success with Jack Canfield and in The Authorities, Powerful Wisdom from Leaders in the Field.  If you're ready to jump-start your life, have more fun and joy in all that you do, get a FREE consultation from Linda J. Levesque 

This information has been prepared by Linda J. Levesque who is a Sr. Investment Advisor for HollisWealth® and does not necessarily reflect the opinion of HollisWealth. HollisWealth® is a division of Industrial Alliance Securities Inc., a member of the Canadian Investor Protection Fund and the Investment Industry Regulatory Organization of Canada. The information contained in this newsletter comes from sources we believe reliable, but we cannot guarantee its accuracy or reliability. The opinions expressed are based on an analysis and interpretation dating from the date of publication and are subject to change without notice. Furthermore, they do not constitute an offer or solicitation to buy or sell any of the securities mentioned. The information contained herein may not apply to all types of investors. The Investment Advisor can open accounts only in the provinces in which they are registered. For more information about HollisWealth, please consult the official website at

Insurance products provided by HollisWealth are provided through HollisWealth Insurance Agency Ltd.  

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