Personal savings rates have declined rapidly over the last few decades and have led to an impending crisis for many families. Baby boomers and their children haven’t adequately prepared for their retirements, causing a major generational issue involving sacrificing on lifestyle, continuing to work into their 70s and relying on their families for support.
A large part of what I do these days is to try to convince people to give me an hour of their time to create a financial plan for them or give them some insight into where they're heading. As a newer consultant, I don't think that's abnormal, but I hate feeling as if I'm a salesman, so the challenge is to show people that my interest is in making a positive impact on their lives.
I believe in a world of abundance and prosperity. I believe in wealth in all aspects of a balanced life. I believe people struggle financially simply because of a lack of financial literacy. We are taught how to work hard for our money, but we do not learn how to make our money work hard for us. Money is merely a tool. We should learn to be masters of money, and not be servants to it. Financial freedom is simply a mindset about maximizing the value realized from the assets we steward. It is about freeing up time and minimizing the labour needed to sustain life's obligations. Money is a gift that needs to be safeguarded, nurtured and shared productively for the befit of family and community.