Edrick G. Tercero - Financial Wellness

❗️REFLECTING TIME❗️

Most individuals want what they want.. Now, that can be controversial.. what is more true is most won’t sacrifice their time to earn their ideal future.

Many will sacrifice their future for the time they want to enjoy today.

Interesting isn’t it?

It’s easy to live a life that looks wealthy. But wealth… wealth is actually living much more within our means or below it... this in fact is much more difficult and frankly takes a lot of discipline. Living only within your means, living frugal, living to be prepared, should be an empowering conversation… Unfortunately most detest the very idea… not all, but most. Why is that?!?..

Now we’re gonna get extremely direct here, let’s talk about the truth. Bloombergs post says according to a CIBC poll ran, 32% of Canadians between 45 and 64 don’t have anything saved for retirement. More so, 53% of Canadians polled again by CIBC say they don’t know if they’re even saving enough. Staggering numbers.. This resulting in most being unable to retire by the age of 65. 22% pre retirees saying they will need to work into their 70’s, if not longer.

Another study done now by CBC 2022 ditermines that the average Canadian spends $1.83 for every dollar earned - Driving factors —-> Most need to drive the car they shouldn’t have purchased, make themselves “afford it”, many on bad credit. Reality is, its a want to appear to others or themselves a specific way.. to fill a void in the way most want or need to feel… How about the house they’re in, or want? Most are opposed to down sizing and frown upon the idea of managing less space … how about the gadgets most have or purchase…? Most things are not necessities but we live this social life that society says we need to work only to spend. Even in the midst of a financial crises.

Now I’m not saying you need to give up all things and change everything, trying not to be extreme up there. But can we change somethings, broaden our perspectives, and realize that we’re all heading towards the same goals? Financial Security.

Mindset is everything, become a planner instead of having a purchasers mindset... What if you spent more time planning to actually be able to AFFORD your future, set the things and life you want as goals, and eventually be able to have WHAT - EVER - YOU - WANTED. It doesn’t take an abundance of money to achieve it, it’s called Planning.

Most don’t think that it’s possible to reach their ideal destination, most quit on themselves before exploring their options… becoming consumed by doubt and dept… refusing to believe there are options..

The most successful individuals, are the ones that seek advice, and see “help” as a sign of strength, not weakness
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“Those who fail to plan, plan to fail!”

You need to adopt and remember that your early years, are your earning years.

Conclusion
- 📈The ones who live with within their means today, adopt a plan, save strategically, seek advice, and ask for help will end up having the most in the end.. This doesn’t mean living a boring lifestyle. But being strategic in all facets

- 📉The ones that live lavish and with more today, NOT within their means, end up having much less face extreme financial struggles ending up depleting their resources much before setting anything in place. Living a lavish lifestyle early may be great while it lasts, but that most often comes to a tragic end.

(If you’re capable, do so, if you’re not… you know the rest)

So really ask yourself, Where do you stand? What’s your plan? More importantly do you have one?

Ever feel you’re not making enough money with your investment accounts or leveraging the right opportunities? Do you know how your money is supposed to work? Are you using the right tools? Feeling misinformed?

Meet the Rule of 72! This rule shows you a simple method on how money can double in savings, retirement or in debt.

The rule of 72 is one of a coupe methods for estimating an investment's doubling time. The rule number (e.g., 72) is divided by the interest percentage per period (usually years) to obtain the approximate number of periods required for doubling.

* For example, an Investment account at a bank getting a 1% ROR (rate of return).. This will take that money 72 years to double.

* A Credit Cards interest with a present rate of 18% will take 4 years for the interest to double. But who’s on the winning side of this? Does the bank or credit company actually make anything on this?

* Lets say you invested 10,000 and getting a rate on your money at 2%, this will take your money 36 years to actually double. To use an example, if you had invested the 10,000 at the age of 29, you’d be 65 years old before your money reached 20,000 on its own efforts. The baffling question is… Is the bank making the same returns at 2%, or are they earning more on “my money”?

The bank with your same 10,000 dollars will be investing it with what would be PMM’s (Professional Money Managers) example: while you got 2%, they may very well be getting 12% on the same money you put to invest (72 / 12 = 6 - money is double every 6 years), so over the same 36 years, while you assumed 10,000 by 65, they manage to turn that same 10,000, into 640,000.

Now tell me, can you afford not to know where your money should be going, and how to have it work harder for you!?

Learn how you can make a better rate of return with your efforts!!

Ask me what tools I use to make a difference for myself and others I advise.

Choose your “Hard”

It’s not what’s thrown at you that brings you down, it’s how you choose to react to everything you face. Face reality, we live in a world where choices dictate both the outcome and the results. Now whether those outcomes or results are good or bad, is up to you.... Either choice you decide to make can be hard to do or deal with. The beauty of choice tho, is exactly what it means.. Which way will you decide to accept?