Don’t do today what you can put off until tomorrow….That is the procrastinator’s creed. Don’t put off to tomorrow what you can do today …….the creed of Strong Type A personalities. What about you and I…the average man or woman who is a Sometimes Type A, sometimes child, sometimes teenager?
No matter what, you KNOW that tomorrow is going to arrive, eventually. Some things can be put off, but not avoided altogether. Some things cannot be avoided or put off, no matter how much we try to not acknowlege them. The harder we try, the harder they will hit us. Taxes, health problems and our children becoming teenagers are the top three things we like to avoid but just cannot. Those of us who are self employed, need to put aside money for our taxes. it is hard…so very hard. It is there, it would pay bills and maybe cover a much needed holiday away too. So how do you not spend it? It is calling your name. But save it we must. Or pay a much higher price later on.
Health problems can often be eliminated when you go to the doctor early, when symptoms appear and for your annual check up. As for teenagers, well the harder we fight our children’s independence, the harder the struggle will be. We raise our children so that they will become adults, but so many parents want to skip that middle step….the years between 12 and 25. Why 25 and not 18? I raised three children and at no time did a magical leprechaun come to my house on their birthdays and transform them literally overnight. Age 18 has been deemed by bureaucracies as adulthood, but if I am the only one who never was visited by that leprechaun, I feel pretty hurt. So I will assume I am not alone. The teenage brain does not really develop good reason until it reaches age 25, and it truly only begins there. That is not to say that some teens and young adults are not mature. Some are far more responsible and mature than some twice their age. These are the exception. Some people NEVER grow up, never take responsibilities and accountability as a part of life. Some women will laugh now and start listing men who have not grown up, in their opinion. To be fair, why do we expect anyone….man or woman…..to grow up if they are not taught how or if it is expected too young. Yet that is what we want them to do….skip that step of the process and wake up magically touched on their eighteenth birthday……….and eliminating the 12 to 18, skipping right to the maturity of 25 years of age.
Back to the topic….if you will excuse my having gone off on a tangent. Being ready for the tomorrow that will inevitably arrive.
I have already mentioned that you need to stay on top of your health issues. A minor cyst today, when dealt with immediately, will always have been just a minor cyst. Ignored, it may be a pre cancer or malignant growth.
Taxes are also something you need to stay on top of. More than any single topic, it is likely that this will give you more heart palpitations than anything else. Get to know a good accountant. And find yourself a trustworthy and reliable financial planner. Someone who can show you legitimate and accessible tax shelters. Someone who understands tax implications for you and your family should something happen to you and who is equipped with the knowledge to ensure your secure future. At this time of year, many programs are advertised which tout themselves as being your tax solution, as if one glove will fit all. Leveraging, RRSPs, TFSAs, etc etc are on signs everywhere. Are they all right for you? Is life insurance an alternative to RRSPs (Canada) / 401K (USA) or the other way around? Only when you talk to a qualified financial planner will you really know. Take advantage of this time of year to start building a relationship with your financial planner. If you already have one, but are not sure he or she is doing all they can for you, talk to another one. A meeting should not cost you anything except some time and it is time well spent, a solid investment in your tomorrow. Be ready for tomorrow….and be grateful that it arrives. The alternative is deadly….
Contact me at myfuture@unleashtheknow.com for your financial future