Creating my plan
| myth: | A financial plan is too complicated. |
| truth: | A financial plan is as simple, or as complex, as you'd like. It’s up to you. |
Start simple
Your plan will change and grow over time as your needs and goals evolve. It can start with a simple list of your goals and a spending plan. It can grow to include more parts later on. See a case study [PDF, 2 pages, 115 kb] about how Lisa and Michael worked through their financial plan.
Stay focused and on-track, review your plan regularly and keep it current.
 Listen to Trina's storyA real customer, unscripted. Find out how Trina created her plan Listen to Trina's story |
What parts can make up my plan?
- Spending plan: Know where your money is going and direct it to where it should go and away from where it shouldn’t.
- Pension: What you can expect from the government and your employer when you retire.
- Investments: e.g. RESP, RRSP what you need to save on your own and grow it.
PROTECT
- Life insurance: Protects your family and your mortgage from the unexpected
- Health insurance: Protects your finances if you get sick.
- Will and estate planning: Your family will be taken care of if you die unexpectedly.
- Tax plan: Ensures you don’t pay tax unnecessarily.
ENJOY
- My short-term and long-term goals.
- The results of your saving efforts.
- The freedom of not having to worry.
There's a lot of choice - Do I need an advisor?
