by admin | Mar 25, 2015 | Advisor Stream
One of the cardinal rules of being a successful long term investor is diversification.
This is a principle that virtually every investor is familiar with and one that every financial advisor holds out to be gospel.
Then why is it that we often look back upon our investment portfolios with frustration and disappointment when one particular area is under performing while another is shooting the lights out?
If this is what proper diversification is designed to do, than why does it create so much consternation?
Here’s a great article to help provide some perspective on the subject.
Cheers,
Coach Mark
Diversification Is the Sane Alternative to Betting Big on One Investment
You made a huge mistake last year with your money. You know this now, right? The only investments in your portfolio that did very well were probably United States stocks. Bonds may have held their own, but everything else was just pitiful. International stocks performed horribly and emerging markets weren’t much better. What were you thinking? Clearly you missed a big opportunity in 2014. You should have skipped diversifying and gone all in on United States stocks. But seriously, with no proven model for picking the next winner, can you really afford to bet big on any one investment? If you had to, could you even pick one, and only one, investment for the rest of this year? The answer can’t be no! Don’t you know by now who the winner will be in 2015?
Read more here
by admin | Mar 25, 2015 | 52 Week Accountability Challenge
THE POWER OF FOCUS:
Do you ever find that you have great intentions of taking action and making progress towards your goals, but you seem to get distracted and pulled off course?
Please tell me that I’m not the only one this happens to….Phew, I was getting worried there for a moment.
Why do we allow distractions to get in the way, and what can we do about them, right NOW?
I consider distractions in whatever form they may take (constant flow of email, voice mail,, telephone calls, paper work, last minute projects, sitting down in front of the television instead of exercising, or preparing for that speech you keep putting off; etc, etc ), to be just another manifestation of what I call THE INNER ENEMY. Also referred to in Stephen Pressfield’s outstanding book, The War of Art, as Resistance.
If you recall, Resistance has one job, one singular purpose, which is to stop us from doing the work that our goals are demanding of us to achieve them. Resistance is a sly and sneaky character. Often these “distractions” appear as urgent tasks or events that we must immediately devote our full attention to.
Accountability Challenge Week 12: Do it, Defer It, Delegate it or Delete it….just Don’t Dwell on it.
When it comes to distractions or any type of demand on our time, we can choose to respond in four ways; We can choose do it immediately, when can defer the action to another time, if we have the resources we may also be able to delegate it, and finally we can merely delete it.
What I suggest you do is to prioritize each of the actions, or distractions that routinely appear in your life, and in your day. Prioritize them from highest payoff activity to lowest payoff activity. Ask yourself which of these activities are moving me closest to my goals. If your goal is to lose 40 pounds over the next 12 months-then your high priority activities are regular exercise, and healthy eating. If you find that distractions are pulling you away from completing your High Payoff Activities then you need to make some immediate changes in your life.
I have a great solution for you which I have recently been implementing into my own life. I wish I could take full credit for it, but again most of the great ideas that I come across are not originally mine. Occasionally I’m just smart enough to implement them. The three step idea that I’m about to share with you I heard from someone I consider to be my own Accountability Coach, Anne Bachrach. Anne works with many financial advisors like me and she has been smart enough to trademark the brand name “The Accountability Coach™.
Three Steps to Higher Productivity:
Step One: Write down every single activity that can come up in a typical day. Assign a level of priority to each activity ranging from the Highest Payoff Activities (HPA’s) down to your Lowest Payoff Activities (LPA’s).
Step Two: Put each of these activities into your calendar as you would with any important appointment that you make with yourself. Treat these appointments (also known as “blocks of time” as sacred. Clearly you are best served by focusing on HPA’s. LPA’s are also on the list-but should be scheduled in off peak time, or delegated where ever possible.
Step Three: The third and most important and most challenging step once an activity has been booked into your calendar is to HONOUR YOUR CALENDAR. Putting an activity into your calendar and then ignoring it, or continually hitting the “snooze alarm” will not move you closer to your goals.
So there you have it a simple (I didn’t say it was going to be easy-at least not off the get go) and highly effective three step solution to magnifying your own productivity by tapping into the power of focus.
Expect Success,
Coach Mark, Thought for the week: “There is no try, only do”. Yoda–The Empire Strikes Back
Mark Hudon, CFP™, CCS™
Financial Fitness Coach, Certified Cash Flow Specialist™
Creator of The Core Conditioning Program™
by admin | Mar 16, 2015 | 52 Week Accountability Challenge
UNLEASH THE POWER OF YOUR PASSION:
The first step in the Process of achieving any goal, desire or dream that we have is to first CLARIFY OUR VISION.
If you went through our goal setting exercises you have already spent more time identifying your most important goals and dreams than the majority of the population of the entire planet. However, I recognize that goal achievement is not always an easy or smooth process.
One of the main reasons is that most people fail to attach powerful, positive emotions that serve as beacons of light that will drive them toward their goals. We are all experts in dredging up negative emotions (fear, doubt, worry, anxiety) that create an automatic Resistance in the pursuit of our ideal lives.
Please take five minutes and explore the following questions.
Accountability Challenge Week 11: Clarify Your CORE Desires: What are you passionate about in your life?
Write down as many different answers as you can. Do not sensor yourself-Really let yourself go & have fun with this exercise. The more at ease & relaxed you are the more meaningful & powerful will be the outcome.
What are you passionate about in your life? What excites you? What brings you the greatest joy in your life, or what could bring you the greatest joy if you were open to it? What would you do for a living if money wasn’t an issue?
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Keep Your Core Strong!
Mark Hudon, CFP™, CCS™
Financial Fitness Coach, Certified Cash Flow Specialist™
Creator of The Core Conditioning Program™
Check out our exciting new Website, Radio Show, & Cash Flow Planning tools:
https://financiallyfitforlife.ca/
http://webtalkradio.net/internet-talk-radio/financially-fit-for-life/
http://cashflow-specialist.com/
Thought for the week: ”There are no limitations to the mind except those that we acknowledge”. Napoleon Hill
by admin | Mar 16, 2015 | Advisor Stream
For many people crunching the numbers to determine whether you will have enough to enjoy a comfortable retirement can be very intimidating & stressful.
In fact, coming to grips with your own “retirement reality” is something many people, like the author of this attached article tend to procrastinate on.
However, like the author discovered, when you take the time to go through some retirement planning questions and gain clarity around what a comfortable retirement means to you, you find that your reality is not so scary after all.
I encourage you to read the enclosed article to gain more clarity around your own retirement reality.
If you would like a helpful guide to take you through simple exercises, I know someone who can help you out….wink wink, nudge, nudge.
Cheers,
Coach Mark
Retirement Reality Is Catching Up With Me
New York times columnist John Schwartz writes about approaching retirement with trepidation. He says: I am an idiot. That, at least, is the impression I get from personal finance websites and magazines and books. They all seem to say I’m doing pretty much everything wrong when it comes to my financial life, basically because I don’t pay that much attention to my finances. But with some consultation and some strategizing, he makes the point that retirement reality is nothing to be afraid of.
Read more here
by admin | Mar 10, 2015 | Advisor Stream
Now that the RRSP deadline has come and gone, many people have switched their attention on how to get the most from their tax return.
While the best time to do your tax planning is before the end of the calendar year there are certain things that you should be aware of that can help you to save a buck or two.
This week’s article share’s what new on this year’s tax return.
If you have any questions please feel free to give me a shout.
Cheers,
Coach Mark
What’s new on this year’s tax return: Mayers
It’s a good year to do your own taxes. Only a few things are new, and it’s always good to stay in touch with what you make and where it goes. Tax software is making it even easier, and filing online is getting simpler. The Canada Revenue Agency expects about 1.5 million of us will file this week, as we’re eager for a refund that averaged $1,697 in 2014. The number of early birds will rise to 3.2 million by the end of next week. Most of this year’s tax changes give a little bit to families as part of a bundle of populist tax breaks introduced in 2014. Here are the highlights:
Read more here
