We spent months planning our trip to the Philippines: restaurants, tours, flights, hotels, family visits. The research alone was a full-time job. And yet most of us spend less time planning our financial future than we do planning a two-week vacation.
That trip happened because our finances were in order. We knew what we had, what we’d saved, and what we could spend without losing sleep. That clarity is what I want for every person I work with.
Think about how much thought goes into choosing a restaurant. Price point. Cuisine. Ambience. You walk out satisfied because you planned it. Your RRSP contributions, your investments, and your timeline deserve at least the same attention, and the payoff is a lot bigger than a good bowl of pasta.
Does getting advice actually make a difference?
Research suggests it can. Russell Investments’ annual Value of an Advisor study estimates that working with an advisor can add value worth roughly 5% a year, and Vanguard’s long-running Advisor’s Alpha research puts it at around 3%. Much of that value doesn’t come from picking better investments. It comes from having a plan, using the right accounts, and staying the course when markets get bumpy. [Forbes covered the findings here]([FORBES URL]).
Results will always vary from person to person, but the bigger point stands: most people don’t have a plan because nobody ever sat down with them and built one. That’s not a character flaw. It’s a gap. And it’s exactly the kind of gap I help close.
The Roadmap: Where Should You Be Focusing Right Now?
Financial planning isn’t one-size-fits-all. What you should be doing at 28 is very different from what matters at 45. Here’s a plain-language guide to the questions worth asking at each stage.
Under 30: Build the Foundation
Saving for a house or wedding? This is the moment to get intentional about where that money lives and how it grows. The FHSA (First Home Savings Account) is one of the best tools the government has ever offered first-time buyers, and a lot of people under 30 still haven’t opened one.
Are you minimizing your income tax? Even a small RRSP contribution at this stage can lower your tax bill today and gives that money decades to grow. The habit matters more than the amount.
Is your TFSA working? Not just open, but actually invested, rather than sitting in a savings account earning next to nothing.
30 to 40: Grow What You’ve Built
What are you actually invested in? “My bank handles it” is not a plan. Do you know what your money is doing over the next 10 years?
Dreaming of a cottage or a bigger home? Those goals need a savings strategy, not just a wish. Let’s map it out.
Got kids? The RESP is one of the most underused tools in Canada. The government adds 20% on the first $2,500 you contribute each year, up to $500 per child annually. That’s free money sitting on the table.
40 to 50: Protect the Nest Egg
What does your retirement actually look like? Not in theory, in real dollars. What monthly income do you need, and are you on track to have it? This is the decade to get specific.
You still have a 20 to 30 year runway. That’s not the home stretch. That’s still plenty of time to compound. Don’t let fear push you into being too conservative too soon.
Mortgage paid off? Now what? That freed-up cash flow is one of the most powerful financial tools you’ll ever have. Most people just absorb it back into spending. There’s a much better use for it.
Not sure where you stand for your age and stage?
Let’s find out together. One conversation, no obligation. Bring your questions, your uncertainty, or just a general sense that you should probably be doing more. That’s exactly where we start.
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