​WHAT I'VE LEARNED IN A YEAR OF FINANCIAL PLANNING

WOW. Just over a year ago I was studying crazy hard to get through the LLQP before the exam structure changed so that I could fast track into my career. After achieving exceptional scores I began the journey into financial planning and investment. After one year I have learned more than I could have imagined. Diving into the tax structure, corporate investment opportunities, personal necessities and family protection that Canadians strive for has taught me so much about friends, family and Canadians. Here are my main three takeaways from this past year:

  1. Personal planning affects more than just yourself - we have a very me, me, mine type of society and tend to think short term. It is important that individuals and couples think about potential future situations. Buying whole life insurance when you're 25 and healthy will protect your unborn children for low costs, while building up equity in something you can withdraw from. Building an RRSP now will reduce savings pressure later. The list is forever long.
  2. You don't have to be special to protect something - There is unlimited flavors of investment, and insurance, waiting until it is too late is the number one symptom of millennials, act now, trust me, it's cheap.
  3. Corporate loopholes are to be taken advantage of - The Canadian tax system does its very best to tax corporations of small and medium business owners. Insurance can be used to invest stuck capital, retrieve corporate dollars at lower tax rates and ultimately free up the stress of over invested capital. Act now. Things change annually.

Most of you probably read this and thought 'nice try Joshua, you made us read your sales pitch,' but that is where you're wrong, this isn't sales, nor is it a pitch, this is all facts. Being in business for myself has been challenging but the reward has been and will be guiding people through a process that is very important and helpful.