Is Money Causing Stress in Your Life?

If money is causing you stress, you’ll appreciate knowing you are not alone.  A national survey released by the Financial Planning Standards Council (FPSC) shows that 42 per cent of Canadians rank “money” as their greatest stress.  The results are shown here. Living with feelings of anxiety and stress is not a prescription for a happy and content life. 

Yet how is it possible to achieve life goals without feeling stressed?  In this survey Canadians with a comprehensive financial plan claimed success was possible more so than those without a plan.  Your goals may not be outrageous.  Like most Canadians you may dream about: taking the vacation you want every year, owning your own home, having sufficient discretionary income to lead the life you want, spending more time with family and friends, being able to undertake the activities you enjoy the most, and having enough money to pay for post-secondary education for your children. Talking about your personal goals with a CERTIFIED FINANCIAL PLANNER^® professional is the first step to curing the ailments of “stress”.  

Meet Some People You May Know

People often encounter financial roadblocks. I would like you to meet people you may recognize. You may have heard similar stories or lived through similar experiences.   

q  Bob and Mary presently rent an apartment and want to own a home one day.  Their incomes are relatively modest. Between their current living expenses and vehicle loan payments, they are uncertain whether they will ever own a home.

q  Randy has been talking about retirement ever since he was 55.  However, he is feeling overwhelmed with the thought of giving up his current employment income.  The uncertainty of having enough to meet his present lifestyle is playing havoc with his retirement decision.   

q  Bills are coming from every direction.  Having sufficient income to meet all these demands is causing Betty unbearable stress.  When Betty thinks she has everything covered, an unforeseen financial emergency erupts: the car needs repairing, the washing machine goes on the fritz, and her dog needs vaccinations.

q  Gwyn and Roger would love to vacation annually with their two young children.  With all the day-to-day living expenses and saving for their children’s education, their vacation dreams seem impossible.

The above stories are about typical financial challenges.  How do people overcome challenges to achieve positive outcomes? If they tried to do things their way and failed, maybe the next approach is asking for help?  My intention for writing the blog, What Does a Financial Planner Do was to provide some insight as to how financial planners can provide assistance.

Begin a Relationship with a Financial Planner  

Just like you would be reluctant to permit a surgeon to operate without the necessary qualifications, you would also be reluctant to take advice from a financial planner who lacks the necessary knowledge and expertise to deal with your money.  This past week, a large number gathered in Vancouver for the 13^th Annual Canadian Financial Planners Conference to learn from economists, tax experts, and estate lawyers. We learned about the mathematics behind annuities, cross border planning for Canadians and Americans, and managing market volatility. We also networked with fellow colleagues from across Canada to see what’s working for them so we can mirror their practices.   As planners, we want you to see us as the experts who are willing to build a trusting and lasting relationship with you and walk you through your life challenges so you achieve your goals and relieve your stress. The decision is yours whether you are willing to enter into that relationship with us.