The importance of financial planning“By a continuing process of inflation, governments can confiscate, secretly and unobserved, an important part of the wealth of their citizens.... The process engages all the hidden forces of economic law on the side of destruction, and does it in a manner which not one man in a million is able to diagnose.” John Maynard Keynes 
What is the importance of financial planning? Obviously based on Mr. Keynes observations the real importance of financial planning is to protect yourself from other people's financial planning -- namely the government. "With a Tax regulations manual the size of the New York City phone book!" " And if we believe John Maynard Keynes I think you can see how Personal Financial Planning would benefit you. Governments, multimillionaire CEOs of Credit Card companies, Billionaire Bankers, large and small Corporations are all after one thing-YOUR MONEY. Every day we are blasted with multimedia advertising explaining that by spending money--we will save! 'Ads urging you to go ahead and buy, after all you work hard and you deserve it, and it doesn’t matter if you don’t have the money, you can pay later!' These entities hire the very best psychologists in the world to design advertising that gets you to buy. You windup buying things you don’t need, with money you don’t have, to impress people you don’t like. Doesn’t sound very fair and it isn’t. By far the largest ongoing expense you have in your life is Tax. Tax is attached to literally everything you buy or do. "Doesn't it make sense to investigate ways to extract yourself from the government's financial plan? Can you see the importance of financial planning?" A Financial Plan will -- within the rules that have been laid out -- allow you to reduce your tax burden -- protect your family and Estate. Even
basic financial planning
will give you a huge advantage!
"You can have anything you want. You just can’t have everything you want."
Your plan can be as simple as making sure you have proper levels of Life Insurance to cover your mortgage if you die. "Remember the Financial Planner will be the only one at the Funeral, to deliver a cheque instead of asking for one." Often people say to me:“Boy as soon as I get some money I will give you a call.” "They confuse Financial Planning with Investment Advice." I worked with one young couple, who lived in an apartment, when we met, had $10,000 in debt, zero savings and No Life Insurance. Today they own a home. Their only debt being their mortgage. They are both are properly life insured--they now have children. The have embarked on a program I call insured retirement Which is building them a tax-free retirement income. They’re young so they will a have HUGE amount stashed away when they retire. In fact, they will more then likely be able to choose whether or not they wish to retire at around age 50. Without the help of a planner. You could lose:
An estimated two million eligible Canadians do not receive the benefits they are entitled to, simply because they are unaware they are entitled to them!
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Terry Johnston CFPJ C Mitchell Financial Services Inc. Phone: 866-721-7781 ext. 232
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