In June we had the good fortune to hear from Elanda Kowalchuk, of Zakus Kowalchuk Insurance & Investments, with her presentation “Winning the Financial Marathon”.
Elanda reminded us that our building wealth for the things we want to do it is a marathon and not a sprint, so patience is important. When investing we need to consider three variables: time, money and return. Lack of one requires overcompensation of one of the other two.
Not all debt is bad; debt may be good or neutral. Insurance isn’t about the probability, but the consequence of death or disability on your finances. Your Human Value, your ability to earn and save, is most likely your greatest asset.
When it comes to significant and important decisions you make in your life, you get an expert advisor and they need to run alongside you in the marathon. Running the marathon with a financial planner ensures your financial affairs are arranged properly which benefits you in the long run, as stats show people who work with an advisor win the marathon with as much as 2.5x more money.