Do you want to dance?

You can "dance" with the illusions of time and space, choosing your "steps" based upon things and events as they now are, 

or 

you can dance with your dreams, choosing your steps based upon things and events as they will be.

And I bet you can guess which steps will perpetuate today's illusions, 

and which ones will change everything... 

We all dance, what tune will you dance to and what steps will you take? 

Why are you here?

You are not on earth to:

• make things happen. 
• spread the love. 
• make it a better place or to learn acceptance of the things you cannot change. 
• find your soul mate or your purpose. 
• put the needs of others before your own.
• suffer, pay penance, be tested, or judged. 

Did I leave anything out? 

You are on earth, 

because in your loftiest state of being, perched high above the wonderment, at the pinnacle of your glory, 

you wondered what it would be like, even fleetingly, to believe in limits. 

By the way....

Hoping, wishing, and praying,  shouldn't ever be confused with doing. 

Know what I mean?  

So remove your own limits and start doing.

Are you a millionaire

A friend of mine was talking about his adventure in buying a house in Vancouver while we were golfing the other day. He was clearly excited about the journey and the end result. Vancouver real estate is/was  in a hot sellers market and the rules had changed since I had bought my home 20 years earlier.

During our discussion I said that I had never golfed with a millionaire before. He laughed and said aren't we all millionaires. I thought about what he said and I agreed, he and I have known each other for over 15 years, the others in the group I had known for over 40 years. We were close friends, and had shared many memorable moments together. Being a millionaire is not about having the money but about the mindset. Having the money would also be nice, but none of us  had the actual cash, to claim we were in that bracket. 

But all of us had been prudent when we were younger and all of us had money in our retirement for travel, fun,enough to pay the bills until we were well into our late 90's and enough to help our adult children when they had needed the help. We were trying hard to spend our money but we all knew that which we didn't spend would be there for our survivors. We also all had our health and the wisdom or lack of it of age.  In our hearts we all felt like millionaires and in the end that is what matters.

Financial literacy

It is estimated that between 4 and 10 percent of older adults in Canada experience some form of abuse and that only one in five incidents of abuse are reported. Awareness is one of the keys to preventing elder abuse.  One of the keys to awareness is to become more financially literate. There are many on-line tools to help you plan for your retirement and many private sector tools that give you the information you need to inform yourself.

In 2012–2013, the Government of Canada, took steps to ensure that seniors are well informed about their financial options before and after retirement.

The Canada Revenue Agency introduced a tax information video series called Pre-Retirement and Taxes. The series includes information about OAS, CPP, non-refundable tax credits, retiring allowances, RRSPs, retirement income funds, private pension income and paying taxes in retirement.

The Financial Consumer Agency of Canada (FCAC) initiated several measures to promote financial literacy, educate consumers about their rights and responsibilities, and help Canadians make informed decisions that contribute to their financial well-being:

1. A new online module called Planning Your Retirement gives Canadians the knowledge they need to make informed and educated decisions leading up to their retirement.
2. A program for adult learners, Your Financial Toolkit, includes a module on Retirement and Pensions.
3. An interactive budget calculator, information on savings and investments, financial planning, reverse mortgages and tax-free savings accounts.

Here is a list to start you on your journey

Financial Literacy for Seniors (pdf file)

Your Money Matters from the Bankers Association of Canada

http://www.morneaushepell.com/ca-en/insights/financial-literacy-seniors 

Financial Tips for Senior Citizens (Download pdf file)

Six tips for Financial Literacy for Seniors

Freedom 55

Remember the life insurance slogan “Freedom Fifty-Five” the pitch was that if you bought their life insurance you could retire at age 55 and live a life of comfort and fun. Fat chance of that happening today most of us hope to retire at age 65, but realistically think retirement at 68 or never is closer to what will happen. The word "retirement" and number "65" are as linked in the American psyche as "bacon and eggs." Then again, that all depends on how fast you want your eggs, right?
Retiring early -- or leaving the work force for the golf course, if you like -- might sound like an unattainable goal. That is especially true if you look at the challenge from a pure cash paradigm. However, there are many ways to make it, so long as you consider numerous approaches. So this post is meant for those in their 20’s or 30’s or early 40’s with some advice for those who are retired or close to it.
1. Live Below Your Means
It is all in the math, if you live below your means, you will have some money to save and that money could be used to save for retirement, a new home, or a new car. However, we are talking about saving for retirement not for a new car. 
2. Redefine 'Comfortable Retirement'
Less spending later constitutes the other side of less spending now. If you imagine comfortable retirement as a vacation home and monthly cruise ship trips, revisit that vision so you do not have to bleed cash -- but can still retire in style. Instead of two homes, for example, why not live in your vacation destination and pocket the principal from selling your primary residence?
3. Pay off All Your Debt
There are many debt reduction programs out there and many resources to help you do this. This will take time and courage, but in the long term will be worth the effort.
4. Consider Overlooked Financial Resources
Look at all of the resources  you have access to when you retire, not just your company pension. In Canada people have access to many programs including Tax Free Savings Accounts, Registered Retirement Savings Programs, company pensions and Old Age Security Pensions. Government programs such as RRSP and OAS can replace 30-50% of your working income, so by knowing about these programs you are in better shape to figure out what you will need to save to supplement these programs.
5. Invest Early and Aggressively
Due to the power of compounding, the first dollar saved is the most important, as it has the most growth potential over time. $10,000 saved at age 25 versus 60. The 25-year-old has 40 years of growth potential at the average retirement age of 65, whereas $10,000 saved at age 60 only has five years of growth potential. For this to happen you cannot just leave the money in the bank, you have to find an investment advisor and invest in stocks, and other investments.
7. Practice Sound Cash Flow Management
The methodology is simple, yet the results can be profound: Put money at least monthly into systematic investments during your working years. Set up the program through your bank or credit union so that the money is automatically invested each pay period. Automatic investment programs work.
9. Start That Retirement Account Today
That is, the earlier the better. Millennials who kick off retirement accounts early will reap big rewards later. A 25-year-old who socks away $4,000 a year for just 10 years (with a 10 percent annual return rate) will accrue more than $883,000 by the time she turns 60. 
10. Plan Smart Vacations and Travel -- and Invest the Difference
There is no sense in depriving yourself of every single thing, especially well-deserved time off. If you are travelling check out cheap of free accommodation programs such as HomeExchange.com. 
11. Don't Let Your Money Sit Idle
To get to an early retirement, you have to periodically revisit your  retirement accounts to make sure your money doesn't grow cobwebs. Make sure your cash is invested properly and that you are meeting your goals.
12. Hop off the Hedonic Treadmill
In this curse of consumerism, you buy something expensive, feel excited, and then scout for something else to purchase when the "new car smell" wears off. Read blogs such as MrMoneyMoustache.com, to get advice on how to do this
13. Look for Passive Sources of Income
Early retirement does not necessarily mean retiring all of your income, especially if you find ways to bring in money without hard work. Investing in rental properties is one way you can create a cash flow stream -- and you can minimize the labor by hiring a property manager. Or: Set up an internet sales business and hire a part-timer to fulfill orders and track stock based on volume.
15. Hit the Road or Go Jump in a Lake, Indefinitely
Some middle agers are selling the bulk of their possessions -- including the home -- and moving into tricked-out mobile homes and houseboats. These options also open the door to a life of leisure travel and can eliminate major expenses, such as property taxes and mortgage payments. Make sure this is the right option before you sell. Try renting a mobile home for six months and see if you like living on the road. I have many friends who hit the road and after a year are very sorry they did it. Try out any option for a while before you commit and sell off your assets to live the option.
You might enjoy your job immensely and have friends in the trenches with you. But if work is taking too much away from your family time, community bonds, overall health and peace of mind, you might do well to consider one of the smartest alternative investments of all: yourself.