I became a Financial Planner for a few reasons. Yes, I enjoy helping people; yes, I have an interest in personal finance; and yes, I have a story about how making shrewd financial decisions changed the course of my life. (If we share a drink, you might be able to pry it out of me.) But the biggest reason that should matter to you is this—I love learning. I knew I couldn’t start a career in a field that didn’t allow me to learn constantly. The downside? The more I learned, I realized how misled the general population is regarding personal finance and how poorly so-called professionals create and implement business, retirement and investing plans. It leads me to why I invest and plan the way I do:

My approach is simple: I want to see the proof. I am not interested in basing my decisions on a feeling, a whim, or what everyone else does. I want to know the why behind any recommendation. I look for facts when emotion can so easily dictate our choices. 

Did you know:

“An average female Canadian retiring in 2020 with the maximum CPP benefit can expect to lose $155,000 in lifetime income by taking CPP at age 60 in 2020, rather than at age 70 in 2030 (in current dollars).”*

The facts speak for themselves. Yet taking CPP at 60 has seen a considerable upswing recently. Why? I think it’s because we plan with emotion over facts. We hear the advice to take CPP early everywhere, from retirement seminars to financial advisors. But the facts don’t lie. I refuse to allow the herd mentality in personal finance to rob my clients of the safety and security a good retirement plan should provide! Don’t base your plan on what got someone else through retirement, what Uncle Bob did, or that co-worker who doesn’t believe in RRSPs. Make a plan for you; make a plan that gives you the best chance of achieving the retirement you’ve worked hard to attain.

*MacDonald, B.J., Ph.D. (2020). Get the Most from the Canada & Quebec Pension Plans by Delaying Benefits: The Substantial (and Unrecognized) Value of Waiting to Claim CPP/QPP Benefits. National Institute on Ageing, Ryerson University.

 

Let’s Connect

Have a question? I’d love to answer it! Reach out to me with the information below.

LOCATION

TCU Wealth Management, Qtrade Advisor 3130 Preston Ave South, Saskatoon

OFFICE HOURS

Monday – Friday
9AM – 5PM

CONTACT

tbynoe@tcuwm.sk.ca
(306) 651.6745
Skip to content