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Coach.

What Owns You?

What owns you?  Do you know that everything that you purchase ends up owning you?  The obvious example is debt, in its various forms however, I’m talking everything you spend money on.

Think of the apple you just bought.  You have to pay for it, take it home, wash it, refrigerate it, cut it up, maybe bake it (if you want apple pie), eat it, clean the knife and cutting board, throw away the core (unless you are like my grandpa and eat it! EW! OK – who am I kidding, I’ve eaten a live goldfish!) and then take the garbage out to the garage and then remember to take garbage out on garbage day.  All that for one little apple!

OK, so maybe I’m a little dramatic, however, I want to illustrate how everything we buy ends up owning our time and money.

It’s not necessarily a bad thing.  We need to survive – obviously and we purchase for emotional reasons always.  Plus, the enjoyment factor is huge and super important part of life.  You have to love taking care or, fixing, repairing, servicing, maintaining, cleaning, washing whatever it is you purchase, from big purchases (like your home) to little purchases (like your groceries).

The problem lies when we start to purchase a bunch of crap we don’t need. I’m sure you’ve never purchased anything that you don’t need and if I walked around your house I wouldn’t find anything still with the tag left on it that you purchased a while ago? Ya, I thought so.

There is only one solution to this problem. Ask yourself this on all future purchases: Is it in alignment with your goals and the future you want to create?

If you want to travel the world, maybe owning one vacation property doesn’t make sense and will keep you tied down.  Or maybe your goal is to spend more time with family and friends, then to take a girlfriend out to dinner is better use of your money than buying your 276th pair of shoes.

If you want to save a million dollars by age 50, does buying your 35th purse really bring you closer to your goals?

If something is a drain on your time or resources, maybe it’s time to rethink.  If your paid-off car is costing you many hours back and forth to the repair shop, maybe it’s time for a new car.

More isn’t always better, sometimes it’s just more to deal with that owns your space, your time, your money.  Goods we purchase always have 2 costs: time and money, and typically it’s the time part of the cost we don’t value properly. Even the free stuff costs our time at the very least.

Here’s something totally crazy that I have learned lately!  The more laser clear you are with your goals (spiritual, health, relationships, family, work, etc.) the more your purchases are in alignment with what serves you and not what takes away from you.  You also don’t waste money on the stuff you will never eat, wear, or use.

Time to do some internal spring cleaning.  Do the hard work! Self-reflect, set your goals, be crystal clear about them (and yes, goal setting and knowing what you truly want out of life is hard work – no sugar coating it!  Most people on this earth don’t really know what they want from life – don’t be one of those people! Life will give you what you ask from it!), and I promise when you have clarity around what you want from life, you won’t be spending any money on things you don’t need, which begins that downward spiral of sucking your time and money (basement full of kids toys comes to mind!) Also, you will notice the areas in which you buy “mindlessly”, those may be the areas in your life you truly don’t have defined goals, or those areas are your problem areas that really need to be addressed in your self-reflection.

For example, my area of struggle or mindless shopping occurs at the grocery store. I have defined goals to lose weight, however I’m a fabulous self-sabotager in this area! I will still sometimes buy chips, chocolate bars and boat loads of fancy cheeses that totally do not serve me or my goals to lose weight. Almost everything at a mall I can walk by and not think twice about, but somehow a display of fancy cheese and I’m totally derailed.

That’s something I’m working on.  We are all working on some area in our lives. Don’t think anyone has it all together. Once we do have it all together, then new challenges arise.  The joy of life!

BOTTOM LINE: Do the hard work of goal setting, because when your goals are set, then alignment will follow easily and your life will flow much easier in all areas and your bank account will be happier, and money will flow to where it serves you, not where you are a slave to it.

The free man is the man who realizes he owns nothing and is steward over everything that crosses his path.

Invest.

KISS & RELAX

Dollar-Cost Averaging

I’m going to teach you how to KISS and RELAX today.

Okay, okay – Maybe I won’t really teach you how to KISS per se (although, I must say I have this uncanny ability to turn frogs into Princes!), but I will teach you how to Keep It Simple Simple and RELAX when it comes to investing!

The best way to do that is Dollar-Cost Averaging!

DCA – WTH?

Dollar-Cost Averaging is when you buy a little every month, or as often as you can and you dollar-cost your way into quality investments.

Why is DCA brilliant? Because you can still make money (for the most part) in a sideways or flat or volatile market.  I don’t want to start a hot debate over this subject, however, you can decide for yourself.

Reviewing years of research on this subject, if you had dollar cost averaged into a quality investment fund or stock, you minimize your long term risk and increase your rate of return. This isn’t a cure-all, and doesn’t protect against a falling market. At the end of the day, I believe DCA allows for most people to sleep better at night. So I do encourage you if you are investing money anyways, to consider this strategy.

Let’s take a quick look at the graph below as an example.

Dollar Cost Averaging

Ok – lets take a closer look at this chart. This is an example of a volatile sideways market for the most part. The top half represents an $8000 lump sum deposit once into a mutual fund or stock and watching it over an 8 month period. The bottom represents buying $1000 a month over 8 months. In both scenarios, at the end of 8 months, you have invested a total of $8000.

With the top illustration, you would see your investments fluctuate over the course of those 8 months. In the example above, in the month of July you would most likely be freaking out that your portfolio is down about 25%. Although, then in August, you would be relieved to know you are back even-steven.

With the bottom illustration, you would see your investments fluctuate as well, however, in month 1 you only have 1/8th of your total planned investment at risk because technically, the other $7000 is still in the bank so-to-speak, so you don’t really lose too much sleep over it. By month 8, you have been buying a little every month, so the fluctuations and crazy volatility (the ups and downs) doesn’t bother you because a) you still hold quality companies, and b) when you are buying low, you are buying more units or shares of the quality stock or companies that you own in your portfolio.

In the end you see that in a sideways market, or volatile market, there is still a way to make money. (FYI – There are always ways to make money in any given market, even if you are shorting stocks and betting that the market will go down…..enter: The BIG SHORT – go see that MOVIE if you haven’t!)

Now, if the underlying investment needs a boot out of your portfolio, then I do not recommend DCA. If you have reviewed your portfolio and it holds quality companies that you still believe in, then DCA is probably the best strategy that you can implement.

Now, for the million dollar question I get asked all the time.

When is it a good time to buy? Yesterday!

People always ask me if there is a good time to buy, get in the market. The best time was yesterday. There is no good time. This next statement is probably much older than I. It’s not timing the markets, it’s time in the markets that counts. It’s like waiting for a good time to have kids! Hahahaha – anyone who has kids KNOWS there is NO good time to have kids! You just go for it, and go for it with gusto…jump in both feet and don’t look back!

And don’t forget to KISS all the time – if you can! That’s right, you can say that your financial coach said the KISS is always the best route to a great relaxing day!

 

 

Invest.

Über Emotional Market

THE CYCLE OF INVESTOR EMOTIONS

As a women, I know nothing about being emotional.

Nothing.

I’m the most steady constant person you will meet.

SAID NO WOMAN EVER!

Yup, I’m a total emotional rollercoaster somedays (okay, okay, everyhour of everyday! 🙂 )  Infact, one day they will probably add the word “syndrome” after my name.

And right now is no exception, on top of normal everyday stresses and emotions, come the emotions of what is going on in the markets and the economy.

When the economy is “bad”, clients also begin to freak out more about their portfolios as well, and as a financial coach, my job is to make sure you don’t succumb to fear, desperation, panic, despondency, and depression or at least don’t act upon them without taking the emotions out.

Instead, I’m going to share with you my hope, optimism and excitement and give you a thrill while at it (or that’s my goal anyways!)

This chart outlines the cycle of emotions we feel when investing and important to note that emotions usually get in the way of a good financial plan.

THE CYCLE OF MARKET EMOTIONS CHART

The Cycle of Market Emotions

This is the emotional psychology behind investing or the feelings an investor feels as they go through the investment cycle.

The point of maximum financial opportunity is ideally where you should buy, although typically when we should be buying our emotions and feelings are running the ship and steer us the wrong way because we are feeling fear, desperation and panic and in no way will emotion let logic take over and run the ship. Emotion at this point is like Lisa and her Cadbury Fruit & Nut Chocolate Bar – you dare not get in between us if you want to live!

The point of maximum financial risk is when everything seems to be going fantastic and everyone agrees with you. That is when you should sell, although at that point the champagne is flowing and the party is in full swing, so why sell your position and bring that great “feeling” to a complete stop.

As humans, the FOMO (Fear of Missing Out) drives us to do crazy things sometimes in relation to investing and this typically happens when we are close to the top of a market or sitting at or around “THRILL”. Especially when everyone is having a party and telling you to jump on the bandwagon and buy that bio-tech company that will be like winning the lottery. I relate FOMO to sneaking out with my roommate in college past curfew to meet up at a pub with some cute guys from our dorm. Sleep is over rated anyways.

FOMO has always been my thing – it actually pushes us forward and to try new things. So it’s not always a bad thing, it’s just something to be aware of, and when it comes to investing, maybe try to take emotion and fear out the equation and let logic prevail. I know this is MUCH easier said than done, especially when in college and even more so when everyone around you will be a millionaire before you if you don’t invest in that hot stock or real estate right now.

Then we swing to the other side of market emotions where FOF (Fear of Failure) is presumed. This is where we have “failed” in our heads and feel the need to sell and get out, cut our losses and move forward. This isn’t always the best approach – don’t get me wrong there are many times in life we need to cut our losses and move forward. This is when I caution you to let logic prevail and add in your 6th sense (women have powerful 6th senses!) – trust your gut.

Also, having a financial plan or Investment Policy Statement (IPS) will also help make sure you have a plan in place.  As advisors, we create these for you so when you are “freaking out” we can remind you of the plan we put in place to help weather the storm.

Don’t forget: Storms are needed in life.  Storms are what makes us appreciate the good times.  If you never feel the bottom then you will never know the highs.  So these cycles are good things.  Be thankful for your trials, because let me be the first to tell you a whole lotta rainbows are coming your way soon!

BOTTOM LINE: So when fear of missing out, fear of failure, fear that the economy will collapse, or fear of any kind, rares its ugly head then it’s time to re-frame our brains, add logic and strip away crazy emotion this will probably help lead to better financial decisions and hopefully get rid of the impending doom and take appropriate action.

Financial.

Confessions from a Bad Economy

4 Reasons You Can Remain Positive in a Bad Market or Economy

THE SKY IS FALLING! That is what it feels like for most of the people that live in my province, Alberta. We are a resource heavy province where a substantial amount of jobs are oil and gas related, hence why most of my conversations with clients, friends, family and random strangers seem to end up in doom and gloom talks about how bad this year is going to be for our economy. (Although, I have personally tried to do my part to boost the economy by buying more shoes, however, I feel my efforts are in vain. 🙁 )

Because my personal QE (quantitative easing) has failed to stimulate the economy in Alberta as I had hoped, I offer other reasons you can remind yourself that things aren’t always as bad as they seem.

#1 – The Market is Not The Economy and The Economy is Not The Market

Although most people will assume both are perfectly correlated, they aren’t. At times they may fluctuate in sync and they aren’t fully mutually exclusive, but people often confuse that they are one and the same. Not to mention – which economy or market are we talking about anyways?! There are 64 regulated markets in the world, not to mention all the markets that aren’t listed, and thousands of economies.

A variety of things can affect a market, such as someone dumping a load of money into the market, that would drive prices higher.  The same as the government throwing billions of dollars into the economy to stimulate job creation or offering tax incentives.

Although, I won’t go deep into this topic right now, just know that even though my specific Alberta economy is not too hot, there are economies in the world that are doing better, and visa versa, there are stock markets doing crappy, meanwhile, other markets are humming along okay. Opportunities are everywhere.

Don’t forget, money is always in flow and always flows to where it’s cheapest!

#2 – Opportunities are Global, Not Just Local.

New opportunities are created every day.  Trade happens instantaneous, and all you really need to make money now-a-days is a laptop.

Fear = Opportunities

Example: In Alberta right now, many families are leaving our province in search of jobs elsewhere, this has lead to a boom in moving businesses.

Don’t forget, for every action there is an equal and opposite reaction!

#3 -There are 2 sides to every transaction. Never forget this!

One of my favorite books on investing is Coreen Sol’s book Practically Investing. She says this:

“For every transaction, there is someone willing to buy and someone willing to sell at an agreed price, both believing that it’s good value and that the counter party is a little crazy…….  That’s what’s fun about this.  The differences of opinion are what keep markets humming and prices continually adjusting to find the fair value. It’s been said that it’s only a fair trade when both parties consider the other to have received the better deal.”

Which on a side note got me thinking that maybe the secret to a good marriage is that you always think you got the better deal, and that your partner is a little crazy for falling for you. Actually, it probably makes for a great marriage when both partners think they married ‘up’. Food for thought. Anyways…..

To illustrate this, I hunted down and found the perfect commercial!  WATCH THIS 1-MINUTE VIDEO!!  It’s so funny I totally LOL’d and it illustrates my point of each party thinking they got the better deal when trading.

Don’t forget, the economy will never disappear because we need to trade – that’s how we survive and grow as humans. Systems, governments, political theories, rules, laws, and markets will change over time, but the fundamental aspect of trade will always be around as long as humans need each other for survival. 

Funny! I’m still laughing! Good to point out that I don’t actually endorse Etoro and actually, I don’t think it’s a Canadian company anyways – none the less the vid is priceless and worthy of illustrating trade.

#4 – It’s all a BIG GAME!

Here’s the thing, if you view it as a big fun game of making money, be that in your job or your business or where you invest, it will become fun, light, and easy. If you stress out about it, it will become hard, difficult, and money will seem impossible to earn, make or attract. It’s all how you view it.

Like attracts like.

So when feeling the burden and worry of a bad economy or crappy market, remember to stay positive and try to make a game out of it!

Don’t forget opportunities are everywhere, you just may need to uncover your eyes and begin to look for it!

Micro is looking small and the problem with micro is we all too often stay small, look small and play on a smaller level.  Macro is big picture stuff, and big picture stuff goes like this: People are going to keep doing everything in their power to survive, increase, advance, and continue on.

So when the economy is crap and we feel like rolling over and playing dead from time to time and when the world feels all doom and gloom in our heads – that’s okay too – it’s why they invented Netflix, wine and Ryan Gosling movies.

From the girl who is always glass half full, literally and figuratively, don’t forget tomorrow is a new day! 🙂

 

 

Coach.

Lovely Ladies – It’s time to meet Lisa! :)

Financial Coach

Meet Financial Coach, Lisa Elle

I need you to know why you need to meet me (because I’m fun and naturally awesome) and why you need a financial coach!

You need a financial coach (holistic financial planner or advisor) the same way you also need a lawyer, and a dentist, and an OBGYN.  Don’t ever try to be a do-it-yourself investor without the proper training.  Even athletes have coaches.  And for some reason we will hire a fitness coach before we hire an amazing financial coach.  (We also spend more time planning shopping for shoes than we do our finances… ok- I’m even in that camp!)  It’s soooo important you have your team of people in place and a great team at that – you want to be on the winning team – right?  Guess what!  You pick this team – so make sure it’s a damn good winning team.  These people help form your master mind, or people you can talk to and gain wisdom, advice and encouragement from.  Financial Coaches are there to save you from your hard wired brains that make bad financial decisions (from time to time) for yourself and to help steer you in the right direction.

I’m going to say it one more time.  YOU NEED TO HAVE A GREAT FINANCIAL COACH ON YOUR TEAM (did it sink in yet?!?!)  I’m not talking just a service for your insurance or investments, typical of most banks (yes I’m totally not opposed to throwing big banks under the bus, it’s a love/hate relationship most of the time), I’m talking someone that you can genuinely talk to about your ENTIRE financial picture.  If this is all you get out of this post and you hire a financial coach – it will be worth THOUSANDS, if not millions to you throughout your life –  for your family, your estate, whatever you life’s purpose and passions may be.  Good advice is worth its weight in GOLD – literally (or your favorite shoes x 1000 😉 )

And I will eat ice cream with you, and won’t make you run laps……..

 

Tax.

Tax Filing Made FUN!

Tax Time

TAX FILING MADE SIMPLE

HAHA! I tricked you!  No one can make tax filing FUN! (If you thought that was even a remote possibility you may be due for a career as an accountant!)  However, I will try to make tax filing simple for you this year!

There are only 2 ways to file your taxes:  either you file them or you have an accountant do it for you.

Option #1 – Accountant Route

In Canada, for over 100 years, we used to have different accounting designations (CA = Chartered Accountant, CGA = Certified General Accountant, CMA = Certified Management Accountant) as of this year, now they have all banned together to form the CPA (Chartered Professional Accountant).

So, if you are getting your taxes completed, I recommend you find a CPA.  Easy, and done!  It’s always nice to find one that is self-employed, from my experience they will charge less than a fancy accounting firm.  Google is a great resource to hunt down one of these beauties!

I have a few referral accountants for the Calgary and Cochrane area that are affordable and fantastic – just email me at lisa@ellementsgroup.com and I’ll send over their information.  Also, if you are an accountant – send me your info!  It’s always great to expand the network!

Option #2 – You File

I personally don’t recommend this, because no matter how good your software is it really can’t know your dreams, future plans, and provide best advice.  However, if you have a “job” and a simple T4 with a few slips like RRSPs or donations, then a simple NETFILE software product will suit you just fine.

I came across this delightful little tax-return preparation software chart to help you wade the mucky waters of self-filing from Investment Executive by Danny Bradbury (October 2015).

Check it out and I hope you find tax time a little easier this year!

Tax Return Preparation Software

Plan.

Cash Flow Plans

Cash Flow Plan

WHY A CASH FLOW PLAN WILL CHANGE YOUR LIFE AND WHY YOU NEED ONE!

OK  – TRUTH TIME!  I love financial planning BUT the truth is that what looks great on fancy paper in REAL LIFE RARELY works!!

Sure, me and 18,000+ other CFP’s in Canada can put together a nice SHINY financial plan with all the bells & whistles, full of pie charts and graphs and don’t forget our beloved spreadsheets. However, the reality is that most plans go sideways before they even get implemented and make their home at Iron Mountain or magically turn themselves into sad paper confetti that graces your lonely banana peel at the bottom of the rubbish bin…..

Sigh.

Even if you can implement a brilliant financial plan, then there’s always circumstantial change that happens in the first year or first day (emergency sale at Nordstrom’s) and then BOOM – your plan isn’t worth the paper it’s printed on.  Need a new roof?  Car breaks down?  You ended up pregnant by mistake? (OOPS – That one is very expensive!!! 😉 )

Plus all those lovely 100-page-illustrations that your financial advisor killed a few trees for and are just to illustrate this one point – that inevitably every client who’s ever visited a financial advisor at some point in their lives get: “LOOK MR. & MRS. CLIENT, YOU’LL BE WORTH MILLIONS! You just have to cut back on EVERYTHING YOU EVER LOVED, like Starbucks and Coach Purses!  I’m going to need to put you on a BUDGET!”

GASP!

Budgets are worse than diets.  Budgets make you feel fat and budgie.  UGHH!!

I cringe too!  Because I like Starbucks, purses, AND shoes, and I will throw myself off a cliff if I don’t get my coffee – let alone let a financial advisor tell me I can’t have coffee and have to go on a BUDGET!  {insert profanity of choice}

This is how it usually goes.

Until NOW!

I have been a financial advisor for 15 years, and non-stop on courses and learning everything I can about the economy, business and the financial world in general and all the financial products out on the market and collecting a few letters behind my name in the meantime. I have seen it all  – or so I thought.

The TRUTH is that deep down I knew financial plans were always great on paper, but they didn’t really resonate with my clients.

Retirement is a word that doesn’t inspire anything.  It’s for old people.  It’s too far away.  I’ve got time on my side.  It’s a word that governments and big banks use to scare us into saving for a future that is UNDEFINED.

Do you know anyone who has actually defined what they want to do in ‘Retirement’?  No, neither have I.  It sounds boring – and quite frankly I’d rather be watching Netflix.

Life is not about retirement.  Life is about making a difference, living out our passions and dreams.

Today.

Now.

Not in 10, 20, or 30 years.

Now.

Almost a year ago I was introduced to CASH FLOW PLANNING, a process created by The Money Finder – and for the FIRST time in my financial career did I finally piece together a few great ideas I’ve heard before into a concept that makes sense and that will actually do more than just lip-service to the world of financial planning.  I took the training and became a CCS – Certified CashFlow Specialist!

You need to believe in what you sell, right?

I believe in insurance – because I’ve seen the power of what it can do for families – all types, life, critical illness, disability, travel insurance – you name it – I’ve seen the power of it (Like my $16,222 day in San Francisco’s emergency room a few months ago!)

I believe in investing and the power of compound growth and dollar cost averaging – because I’ve seen it grow clients accounts. The power of a well thought out investment plan can weather the storm of any market over time.

I didn’t really, fully, totally, believe in financial planning, and budgeting.  Sure the financial planning process is great, but where the rubber meets the road? Nope. I never really bought into it, because I can’t really name one person in REAL LIFE that actually followed a financial plan or budget for more than a day, week, month.  Even our government or large corporations don’t follow their budgets most of the time! 😉

Budget is a CURSE word in my world!

Cash Flow Planning is something different!

This is NOT your grandmother’s financial plan!

This is NOT a boring financial plan from your commercialized bank!

You probably have heard bits and pieces of this over the years, but have never found a way to get the results you want or have heard a way to put this all together in a way that makes sense and doesn’t make you b…b…b…b…  – I can’t even say the word.

This is NOT boring.  This makes money FUN again!

This will change the way you accomplish financial dreams!

This is NOT about financial accomplishments.  Accomplishments are like awards you can put on your fireplace mantle that say things like “Debt-Free” and “Retired with $2,000,000 in Assets.”  Congratulations! Those things are accomplishments.

Accomplishments are great. However, they don’t lead to a LIFE YOU LOVE.

ACCOMPLISHMENTS AND DREAMS ARE NOT THE SAME THING!

Accomplishments do IGNITE – just be sure that they are the side effect of YOUR dreams and not just a way to brag to the world about how much money you have.  How soon we forget – you can’t leave this world with it anyways.  What good does it do you to fill your fireplace full of awards anyways?

Dreams are different.  Dreams are what fuels YOU!  Dreams are the vision you have for your life – to create something worthwhile, to have a positive impact on the world, your community, your family, your best friend.

Cash Flow Planning is about DREAMS, not accomplishments. Accomplishments will be the side-effect of your Cash Flow Plan.

It’s a paradigm shift from eye-rolling-boring-big-bank-stuff to exciting-change-your-life-and-fund-your-dreams!

Cash Flow Planning is about seeing dreams become reality in less than a few years – definitely sooner than age 65  (unless you are 63!)

Getting your own unique Cash Flow Plan will change the way you think about money, use your money and the relationship you have with money because a Cash Flow Plan deals with Behavioural Psychology as well as the numbers.  It already takes into account the fact that you love your Starbucks coffee and your purses and you don’t want to live with a paper bag over your head to make your financial dreams a reality.

I love the study of Behavioural Finance because it just confirms what we already inherently now.  We humans will always take the path of least resistance and we want instant gratification! Sure, we can over come this, but at the end of the day we all come from the same cloth – we want SIMPLE & EASY!

Why Cash Flow Planning is awesome:

  • Create Financial Clarity – figure out why you are ‘saving’ money to begin with!
  • Get more LIFE from your money!
  • Reduce financial stress & worry!
  • Start Funding your dreams in a real way!

Do you make ‘good money’ and not know where it goes each month?

Do you want to fund your dreams and get more life from your money?

Do you feel like your personal finances are all product and no plan?

Do you want financial clarity?

If you answered “YES” to any of those questions, then Cash Flow Planning is for you!

 

Click Here to Get Started

 

 

 

 

Coach.

The Ghosts of Christmas 2015!

Dreams Come True

THE GHOSTS OF CHRISTMAS LIFE!

This time of year I am only thinking about one thing…. setting goals and planning out for the next year! I do this crazy religious ritual every year. I am a pro at goal setting – ask my numerous half filled out journals in my basement and my 8ft white board! (Clearly, anyone with an 8ft white board has to be a pro at goal setting!)

It got me thinking that there’s one part of goal setting that I’m totally forgetting about – a huge important part! Yes! So important that the Ghost of Christmas Past woke me up at 4am today (no joke!) and I needed to share this important piece of goal setting and planning with you!

What possibly could a pro-goal setter like me forget?

Something only that the Ghost of Christmas Past could offer me……take time to reflect on my past year, my past goals!

This is huge for me!!! I’m always forward, forward, future, future, next, next, with very little regard for the past (ok – maybe more so in my business life!)

So I want to share with you for 2 reasons:

  • to encourage you to reflect on how far you’ve come this year
  • to encourage you to set goals for 2016 so you can watch your dreams unfold in your own life!

My 3 Ghosts Stories!

The Ghost of Christmas Past

(or The Ghost of January 1, 2015)

I wrote this on my white board:

  • Complete 2 exams of my FCSI designation
  • Complete FCSI by August 2015
  • Complete Book by May 2015
  • Launch Book on November 28, 2015 (my birthday – thought it would be a nice gift!)
  • Fly on a Private Jet
  • Run a Half Marathon – Feb 2015
  • Lose 20lbs (OK – I’m being totally vulnerable here!!!)

So that’s how I envisioned my year to be. I threw in the private jet for fun. Truth be told, I really didn’t think that would ever come true – it was more a test for the Ghost of Christmas Future and to try out my manifesting powers.

Enter: The Ghost of Christmas Present

(or The Ghost of December 22, 2015 at 4:16am)

As I sit here with my warm cup of coffee and feet up by the fireplace, I’m going to spend 5 minutes and give myself the credit I deserve (PS. I never do this and it’s time for some self-love!!)

How 2015 Actually Went:

  • I did complete 2 exams and passed them both!! One in March and one in July!
  • I did complete my FCSI and was granted Canada’s Highest Honour in Financial Services on August 23, 2015!!
  • BONUS: I also completed my CCS designation (Certified CashFlow Specialist) as of December 17, 2015!
    (I now have 19 letters behind my name!!! BMgmt, CFP, FCSI, CPCA, CCS!!!)
  • I have just completed my MANUSCRIPT!! 6 months later, however I’m handing it to publishers very soon – so no book launch in 2015 (that’s going to be a 2016 party you will be invited to!) (on a side note – I did get sidetracked by 30,000 other projects on the go – so I’m forgiving myself that the book isn’t under the Christmas Tree this year! Forgiveness is part of this process – somethings don’t go as planned and somethings go better than planned!)
  • OMG!!!! I did fly on a PRIVATE JET on June 9, 2015! In a rare moment of ballsiness I asked a VP of a Fortune 500 company for a lift home! It was a Dassault Falcon 2000 (aka – Cadillac of Private Jets – Gold Toilet Stuff!!) This was on my white board and my vision board! So having this dream become reality was beyond amazing for me and also for me believing that anything really is possible! (The posted picture of my sister and I on the jet – a reminder that dreams come true BABY!)
  • I ran the BMO Harris Phoenix Half Marathon on Feb 28, 2015 – I wish I trained more, but I did it, and totally want to do it again – it took me 2:45 of running (yikes!) and as any runner knows – a crap load of determination!
  • OK – and I didn’t lose 20 lbs at all – probably gained a little weight!! But that’s okay – I’ve been working out 5 times a week between 30-45 minutes every day and I feel fantastic and full of energy – so I’m happy.

A few other fun tidbits:

  • I took Marie Forleo’s B-School which opened a million doors for me in January 2015 and I officially started my own WordPress site from scratch in March 2015. I have gotten MANY compliments on my website from industry peers and from clients – and it’s all because I infused my personality into my website to make it fun just like me! Ellementsgroup.com is totally me, my expression, and my message of how I want to shape the world with showing others how to fund their dreams and gain clarity around their life and money. Would love to mention that going from a place where I didn’t even know how to set up a website, to a place where I designed every last page, post, image, meme, quiz, opt-in offer, online store, online calendars – everything – was totally satisfying. I’m so proud of how far I’ve come in the online world this year and what a HUGE learning curve that was (on top of all that other financial education!)
  • Another highlight for me was launching my business, Ellements Group, on June 23, 2015 from NEW YORK CITY!! Strolling Central Park and walking the streets of NEW YORK totally inspired me!
  • I’m technically on amazon as an author – I published my short e-book for fun, and if you search Lisa Elle, I appear – pretty cool I think!
  • I hired an amazing person to help grow my business – she keeps me on top of everything and is my best investment to date! (Hi Pam! 🙂 )
  • Watching my girls both learn to read this year, become little piano players, play soccer, and grow up into little ladies was by far the greatest highlight of my year!
  • I was blessed to travel lots too: New York, San Francisco, Kelowna, Vancouver, Phoenix, Idaho, Edmonton (yes, I consider that a get-a-way!) and even an amazing day trip out to Southern Alberta!
  • Chris Botti concert at the amazing Mission Hill Winery in the outdoor amphitheater! (If you’ve never been – Google it!  It’s a world class venue in Kelowna, BC!)

Ok – so there’s my 5 minutes of self-love and reflection. I did way more this year than I give myself credit for. Truth be told there are times I feel I’m making no progress. There are times (and to be honest – at least once a day – others might say “many” times a day 😉 ) where I feel like a total failure, so I think today this was an important exercise for me to do and spend sometime giving myself credit for all the hard work I do. I hope you give yourself some self-love too! (I aslo learned what a “selfie-high-five” was this year! So I do tend to give those to myself often! OK – I’m a total geek! Don’t worry – aware!)

Enter: The Ghost of Christmas Future

What’s on your goals list for 2016?

So far, I have a few seminars planned, a big speaking engagement in October, trade shows booked, and a HUGE BOOK LAUNCH along with my first online financial course & launch of “Simple Planning: Life. Money. with Clarity.”

One of my dreams next year is to go to Germany. So, I’m hoping I can make that happen. I haven’t been back since I was 18 and craving to sit by the lake at my favorite cafe and work on my next book! (Oh yeah…. that’s right – I have at least 30 more books in me to write 😉 )

Wishing you Christmas BLISS with your loved ones and Financial BLISS in 2016!

xoxo

Coach.

Finding Your Financial Strength

Finding Your Financial Strength

5 Ways to Find Financial Strength

It’s not your net worth or how much money you have that determines your financial strength.

I’m guessing that statement runs contrary to what our society believes, but as a trained financial professional, my point of view is different.

As Brené Brown suggests in her book, Daring Greatly, our strength comes from vulnerability and believing that to be true.

I believe our financial strength also comes from a place of vulnerability.

Financial vulnerability translates to a balancing act between what we ‘know’ and what we are able to admit that we ‘don’t know’ in regards to our financial situations.

It’s about finding that humble place in the middle – where perfectionism drowns alongside egos and shame dissipates. It’s that sweet spot; where you can dance with and happily balance the ‘living’ with the ‘planning’.

Clearly, this applies to more than just the financial areas of our lives.

I’ve spent years in deep thought, applying years of education, floundering, seeking, failing, succeeding, figuring out my purpose, trying to find my place, figuring my whole life out…

…only to feel as though it’s all been a useless waste of time; like I’m back at square one again.

Through it all, this has been my quest: finding financial strength within.

It has been years in the making. As a self-proclaimed recovering perfectionist, I’ve struggled, like most people I know, to find my strength as a woman – and this includes my financial strength.

I am not giving you wisdom from the top of a mountain, because there is no top to anyone’s financial mountain; it’s more like a set of hills you travel up and down, often.

I am however, a pro hill climber, and here are the 5 ways I’ve achieved success along the way as I continuing to find and build my financial strength:

1. Hold on with Open Hands

I think the big secret in life is to hold on with open hands; never hold anything tightly. This goes for people, investments, jobs, relationships; anything we want to control.

Live in a place where life’s riches and blessings of all types are free to come and go. If you can’t leave this earth with it, then it’s probably not yours anyway. Remember, it’s hard to place a gift in a closed fist.

2. Plan Your Work, Work Your Plan – Then Let It Go

Take action.

Don’t wait for someone else to tell you to do something. Live in the ebb and flow of life – make your financial plans, work hard, yet be at peace with things not going your way.

Be paradoxical in mind – knowing you should make plans and set goals and work hard…

Remain focused and committed in the moment, but know that none of it means anything at the end of the day. Be able to admit you’re right sometimes, that you’re wrong a lot, that you’ve succeeded and failed – and then move along.

3. Keep an Abundant Mindset

100% of our financial success has to do with our mindset.

What we manifest financially comes from our mindset. Keep your financial mindset strong and positive.

Abundance wants to flow to you.

• Keep reading positive books, blogs and quotes.
• Keep writing down your goals – pen to paper (or in my case whiteboard!)
• Surround yourself with the people you want to be like.

In my practice, I learn everything about my clients. I not only know intimate details of their financial lives, I also become privy to details surrounding their health and well-being.

Knowing so much about my clients, I see first-hand the deep connection between health and finances.

4. Love Your Money

Take interest in, and care for, your money. Appreciate it. I’m not saying be greedy or make it your god. I’m saying to be a good steward of the things that you’ve been blessed with. Apathy breeds nothing. Who wants to be around people who aren’t interested in you?

Money’s no different. Treat your money well – seriously. Be thankful and grateful for every cent. Track it. You will manifest more of it. Care for your money, and it will care for you back!

5. Clear Your Money Blocks

I know first-hand when I’m having a money block – it affects my mood, my attitude, my health, and most unfortunately, my smile.

I also know when I’m not feeling well physically, that other areas of my life aren’t doing so hot either, and the downward spiral begins.

There will always be money road-blocks as you journey through life. The quicker you handle them ultimately decides how quickly you will be able to get the desired outcome. Because when money issues arise (and they will) they can wreak havoc on your life including mild depression, weight gain, fatigue, etc.

Acknowledge your money block, own it, declare it, clear it, free it, and let it go. If you give it no power then it has none over your life.

So today, fellow hill climbers, I hope you receive the blessing of my words as you continue building your financial strength within.

 

 

Invest.

3 Ways to STRUT Your RRSPs

3 RRSP Strategies

3 KICK-ASSet RRSP STRATEGIES

I’m going to show you how to get 20-66.66% more into your RRSP every year without saving any more money!

And to make this exciting (because writing financial strategies can be soul-wrenching-boring!), I have to relate my strategies to things that bring me joy.

Today, I was debating whether or not to compare these RRSP strategies to shoes or wine. Shoes won out, but just for today. So if you think like me, you will know flats are okay, kitten heels are a bit higher and mightier, but a night out on the town warrants killer sexy stilettos where your legs look fabulous and elongated (or that’s what I tell myself 😉 ) – even if you can only wear them for 5 minutes.

I also created a little chart at the bottom of this article demonstrating the power of these three strategies.

Here are 3 RRSP strategies for this season:

The Flat Shoe:

Put money into your RRSP. Period.

Most Canadians don’t.

23.4% of taxfilers in 2013 according to Stats Canada contributed to an RRSP!

And fair enough, if you aren’t making much in the way of income, I wouldn’t recommend it and would use an alternative shoe for saving – however, most Canadians don’t even save on a regular basis in any account – RRSP or not!

So here’s the point: Save. Save monthly if you can – dollar cost averaging is always best!

If you are in the top marginal tax bracket, it is one of the few tax deductions available to you if you are an employee – so just do it. Put on the FLAT shoe and do it. Otherwise, you are basically barefoot!

IMPORTANT – Don’t miss this paragraph! Here are the numbers: I’m going to use an example of a client saving $10,000 a year for all my examples. If you put in $10,000 to your RRSP and you are in the top marginal tax bracket (approx. 40%) you will get a refund of approx. $4,000 in Alberta – varies province to province and by how much income you actually make. Any accountant can help you calculate this amount for your personal tax situation or your financial planner can do that as well. The money in your RRSP grows tax deferred until you pull it out, and then it is taxed fully as your income at that time.

 

The Kitten Heel:

Wanna spice up your savings and go out on the town in a comfortable kitten heel?  This is an easy boost in your RRSP savings, still only saving $10,000 a year.

Figure out how much you are getting back as a tax return. In the example above, you were getting back $4,000.

Because you know you are getting that $4,000 as a tax refund, why not invest it when you get it. If you do re-invest your return money and continue to do that over the years, you will now invest $14,000 every year, instead of the $10,000 you are saving up.

It will boost your savings by about 40% – that’s HUGE over the years. See the chart at bottom of post.

Or if you really need new shoes for that new trip – why not re-invest at least half of it, and blow the rest like you normally do. You will still get a 20% boost on your savings. I know my girls need a little quality shopping time too!

 

The Stiletto:

Ready to rock and make your portfolio extra hot? This is the ultimate RRSP strategy to boost your savings and make your portfolio sizzle!

Same $10,000 saved. Same example, but this time, we know already that we are going to put in $10,000 and get refunded $4,000.

So what do you do?

You get an RRSP Loan for $6,666.66 during that current tax year. (Yes – I know – I picked bad example numbers! YIKES!)

You invested $10,000 plus the $6,666.66 loan for a total of $16,666.66 into your RRSP.

Your tax refund is $6,666.66, which we use to pay off the RRSP loan we took out.

Here’s the fancy schmancy math formula that provided us with the loan amount needed to equal the tax refund:

Calculation for RRSP Strategy

Here’s an example: let’s say it’s December 2015. You have your $10,000 RRSP money saved in your bank account (or if you are smart, you’ve been investing a little every month dollar-cost-averaging!)  Either way, you call me up – yes, your trusted financial advisor and I will hook you up with an RRSP loan from one of MANY financial institutions (RRSP loans are easy to get, very inexpensive and very short term – typically 2-3 months in duration, from the time you take it out, until you file your return and get your refund and pay it back.)

Then you take out an RRSP loan for $6,666.66

Then you file your taxes.

You receive a tax refund in the amount of $6,666.66 because you put into your RRSP $16,666.66! ($10,000 you had plus loan of $6,666.66)

That’s a boost of 66.66% into your retirement savings! (See chart below to see how your retirement saving look over time!)

The loan for a couple months may cost you $40-$100 (about $22 a month at 4%) interest only payments on a loan of $6,666.66. Small Potatoes!

I’m not sure why most people don’t do this. Oh yeah…. Now I know why – BECA– USE my industry does a BAD job of sharing this powerful strategy!!

Guess what!  In all 3 scenarios – you still saved $10,000.  No more, no less.

THIS STRATEGY IS HUGE GIRLS!!!

(Be a smarty pants and show this to your husband or show off at next office cocktail party!)

This also works with any amount you have saved for your RRSP. I can do RRSP loans as small as $1000 – so there are no excuses for you not to boost your RRSP savings by doing either “heeled” strategy – kitten or stiletto!

When you do any of these strategies or want help with your RRSP planning – call me! I don’t just value financial planning, I also value a good shopping spree and wine. Who said you can’t have it all.

You can have it all – with some smart planning!

PS. I’ve decided my boy clients need to see this also, so I may have to re-do this whole post with a car or sports analogy and send it to them. Ughhhhh………… 😉

 

WANNA SEE THE FINAL NUMBERS???

(I’m assuming you invest this money once annually with 6% annual compound growth at the end of the year for a client saving $10,000 every year utilizing the 3 strategies with a marginal tax bracket of 40%)

3 RRSP Strategies

The Small Print: The information contained herein is based on certain assumptions and is for illustration purposes only.

While care is taken in the preparation of this chart, no warranty is made as to the accuracy or applicability in any particular case.

Please speak to your accountant and/or financial advisor regarding your own tax situation or before you implement any of these strategies.

You need to have sufficient contribution room available to utilize these strategies.

NEED RRSPs?

Have RRSPs and want to boost your RRSP savings by utilizing one of these strategies?

Make good money and this still sounds GREEK to you but you think you need to look further into this?

CONTACT ME & I’ll hook you up with a

KICK-ASSets RRSP PLAN!

403-875-0123 or lisa@ellementsgroup.com