Tag Archives: retirement

Re-purpose, Re-use, Re-brand, Re-build

Since 1997 I have been writing financial literacy articles, tips, reports and courses geared towards middle-income people who are users of financial services. The theme was always to help someone learn the basics so they could ask more informed questions and work more effectively with a financial professional to give them advice and implement the products and services they needed to be most effective with their finances.  

In 2011, I had a life-changing experience that later was confirmed to be an attempted securities fraud with me and my company being positioned to take all the responsibility. The aftermath of this has cost my family every material asset we had including our credit. It also cost us relationships with friends and family. We have maintained our health, and through this experience have gained a strong marriage and faith – not in my/our abilities to do anything, but in God’s promises.

The assets I have now are personal items, most of which are currently in storage waiting for God to provide us with our next home; my ability to work; my unwavering passion and conviction to continue to share the message God has burned in my heart, and the huge inventory of written financial literacy content that I wrote during my corporate years to be rebranded, repurposed, reprinted and shared. Included in this portfolio are trademarks and URL’s to provide an extremely unique opportunity for someone to create an immediate return on their investment in acquiring the portfolio. 

Once more, I am offering the entire portfolio for sale as a way to fund a transition into writing and teaching as a Christian author. I’m doing this as a way to help my family begin to rebuild after the years of loss. My husband and I are both 54 and at a time when many people are slowing down, we are starting over. 

Professionally written personal finance content is not inexpensive to come by. It’s not something that all financial professionals can produce, nor should they. If I apply a per word value to the entire portfolio equal to what you’d pay to produce or access what I’m offering for sale, the value is close to $1m.  

For someone who is doing online marketing or wants to have compliance friendly, easily reproduced client-centric content this portfolio won’t exist anywhere else and is available at a fraction of what it would cost to access or create yourself.  

If you would like to start or enhance your online presence here is your opportunity to build a turn-key immediate online system to support coaching, training, or financial services and earn income from selling the online products as well.

If you would like to have a physical book to enhance your credibility as a financial professional or coach, here’s your opportunity to have your own book published because I’m giving you the opportunity to take what I’ve already written and published and turn it into your own which is much faster and easier than writing a book from scratch! 

Call me at 250-592-0457 (pacific time) to find out more. I’m not expecting a million for the entire portfolio, but I’m also not going to sell it for $1000. I will help you determine the return on investment and how you might best incorporate the content into your business if want. Otherwise, we’ll agree on a price that works for both of us; we’ll write an agreement about use and ownership; I’ll send you the content in a digital format for you to search and edit and repurpose; aand I for sure, will look forward to seeing the fruit of this labour be a blessing in its new format with its new owner(s) and new clients.

 

House Rich, but Savings Poor – A Great Example of a Financial 1/2 Truth

The following short summary for financial advisors of a recent study on savings and debt levels in Canada got my attention, and not for the stats it revealed, rather for what it isn’t say – as always…

My comments are written in italics for you to see why our current world view of finance is NOT God’s plan – no matter how much we try to add scripture to support a debt free lifestyle.  God’s plan is for increase and sustainable income that benefits everyone.  A financial model that focuses on saving for retirement for self isn’t sustainable, and in fact feeds the self-focus that leads to a life of debt.  This doesn’t mean ‘don’t save’ it means that saving is only 1/2 the truth.  God’s plans are about Him, community, and increase – not about lack, uncertainty, or financial slavery.

The latest Manulife Bank Homeowner Debt Survey reveals many Canadians find it difficult to pay for today and plan for tomorrow.

  • Only 4 in 10 are very confident they’ll save  enough for retirement
    • We don’t actually need savings in order to leave work.  We need income to support the plans and purposes God has placed in each of our hearts to fulfill.  The concept of saving for retirement assumes that you will then use or draw down those savings (or hope to accumulate enough savings to live on the interest generated from them. The common teaching is to grow the savings, then live off your savings and hope you have enough after you ‘retire’.  Mathematically this requires approximately 1/3 of your after-tax income in order to maintain a similar lifestyle after leaving work and invokes fear and insecurity over ‘not having enough’.   
  • 1 in 4 expect home equity to make up more than 80% of their wealth at retirement
    • Another ‘depletion’ strategy that anticipates drawing down savings, and encourages chasing high returns in order to accumulate savings and / or equity.

Faced with rising housing costs, homeowners struggle to balance saving, debt repayment and daily expenses. [Interesting how the concept of earning additional income through entrepreneurial thinking isn’t even mentioned as an option]

Many may arrive at retirement house-rich, but savings-poor, which could require them to make difficult decisions [A series of defeatist, depletion-type strategies not in alignment with God’s plan for increase, abundance, generosity and prosperity in ALL areas of life]:

  • retire later than planned
  • accept a lower standard of living
  • downsize their home
  • borrow against home equity

Helping your clients achieve the right balance of saving, spending and debt repayment can start with a simple conversation. Visit the Solutions Centre where you’ll find tips to start the conversations, debt-management worksheets, and more insights to support your advice.

How to Decide WHEN Regarding Setting Financial Goals?

In order for goals to be achieved they have to be able to be measured. When you set a fitness goal, for example, you wouldn’t say, “I want to be in better shape” because the term ‘better’ is subjective and not measurable. Instead you would say something like, “my goal is to weigh xx pounds, with xx percent body fat, and be able to run xx distance in xx time or less by xx date. When you fill in the ‘xx’s’ you have something concrete and measurable to work towards and a way of keeping score. If by the date you set, those specific targets have been met, then you will have reached your goal to be in better shape. This works because you determine what the ‘rules of the game’ are and how the game is won. This means that you will also be the one who will keep score during the time between setting the goal and the date you determine the game to be over.

Once you fill in any one of the measurable results that will ultimately determine whether you have reached your initial subjective goal of being in better shape, you start creating the foundation which will help you build towards the realization of your goal. Your initial idea starts to take shape as you get more specific on what the concept of ‘getting into shape’ actually looks like.

This is exactly what happens with money. The initial idea for most people is that they want to be able to live a life unencumbered by money. They don’t want to be inhibited in any way because of a lack of money to follow through on their desires. In actual fact, what they’re saying is that they don’t want to be limited in any way because of a ‘perceived’ lack of money. I say ‘perceived’ because until you know exactly how much money you’re looking for and when you require it by, the overall concept of more money starts will continue as a subjective idea.

Typically what people are after with this subjective concept of ‘more money’ is a sense of financial freedom. Financial freedom will be very different for everyone though. This is why it’s so important to start determining in dollars and cents what the criteria are for measuring what financial freedom is for you. My dollar figure will be different than your dollar figure because we have different values, beliefs, goals, and life circumstances. The strategy of measuring the different aspects of your goal is the same for everyone because this is how you determine what the rules of your game and how you play the game (the activities and income creating strategies you’ll apply), ultimately how you keep score and whether you win or keep playing.

In finance, the ultimate goal is financial independence, not just financial freedom. Financial freedom can actually be experienced at any time regardless of your financial circumstances because it’s essentially a state of mind. Financial independence, on the other hand, is specific and measurable because it’s the situation where your passive income exceeds the amount of your monthly expenses.

Passive income is of course, different than active income. With active income you are using your time in order to generate income to support your lifestyle. As you plan and implement your financial plans your objective in ‘playing the financial game’ is to use your active income to create assets which create passive income which enable you to create more assets which create more passive income etc. Passive income with eventually be generated from your assets in an amount that exceeds your lifestyle expenses.

This means that you have to know what your monthly expenses will be when you’re not actively earning income. The concept means you start by understanding exactly how much money you’re going to spend each month. This is not a subjective concept about living a sort of ‘magazine; lifestyle. How much exactly will it take for you to live whatever income you truly see living for yourself. In order to establish this you’ll have to do some research and develop some skills in order to be able to take a capital expense (a purchase such as a house or furnishings or car or clothing, etc) and turn it into a monthly income figure. When you do this you are now thinking financially, rather than subjectively or with simple math.

Financial math includes the factor of time. Simple math on the other hand, is not as dynamic and tends to involve only basic formulas for addition, subtraction, multiplication and division and percentages. The missing component necessary to take you subjective idea and be able to turn it into something that is measurable and manageable is time. This means that if you are starting today and you have defined the monthly passive income objective specifically, then you have to know ‘when’ you plan to have that income in order to discover and implement appropriate activities necessary to ‘win the game’.

In fitness sometimes there are calendar dates which assist in setting goals. Often these are personal such as birthdays, anniversaries, or special events. In fitness, if you plan to attend an organized event then dates are pre-determined. You just have to make sure you allow a reasonable amount of time for training. Without a specific date you might still get in better shape, but your activities are less likely to be as focused so reaching your target can happen whenever.

Because setting goals creates a gap between where you are and where you want be, this is why people find it easier to simply talk about goals from a subjective perspective if at all. Then if they do start to test the waters of goal setting they are cautious to make sure that what they’re doing is ‘realistic’. What this means is they’re afraid of being disappointed so they attempt to reduce the size of the goal to make it seem more likely. This can be a good strategy, however, it can also be limiting.

In my experience, the concept of setting a dollar goal is significant enough to cause stress enough that people don’t bother following through, so the idea of putting a date on their goal which provides the key to the overall strategy and therefore overall success is simply ignored or treated with the same subjective manner as the initial concept of ‘more money’ and ‘financial freedom’.
So how do you determine an appropriate date for the realization of your financial goals? The ‘easy way’ and ‘quick fix’ with a lump sum of money isn’t the answer since you’re looking for measurable activities you can do in order to create assets which create income – not windfalls. If along the way you happen to receive a windfall then consider it a bonus point. Your primary focus is to us your skills and expertise and all your resources in order to create passive income in an amount necessary to pay for your personal lifestyle expenses.

The following are some specific questions you can ask yourself to help you determine when your ideal monthly passive income budget will be reached:

1. Are there any life events that make a transition in your life such as getting married, having kids, kid graduating from school, turning 30, 40, 50, 60, 70, etc…

2. Are there any significant priorities or causes that need your time that you’re not able to devote the time you’d like to today because of financial constraints? How important are these issues to you? It’s one thing to say that something is really important to you and another thing entirely to be confident enough to follow through with the necessary activities. How much time on a daily, weekly, or monthly basis do you have to commit to implementing a strategy to create passive income for yourself without it interfering with your current priorities?

3. Is there anything in your life today that could create an obstacle to change that has to be dealt with first? Examples could be work or family commitments that have to be streamlined in order for you to have some more time and energy before being able to invest a significant amount of time into developing anything new. If there is then when will you be able to make the change to create the time and space to develop new projects and systems? Or, what has to happen before you will be able to dedicate any significant time towards anything new?

4. Are these ‘real obstacles’ or are they feelings of obligation or something you would feel guilty if you didn’t do?

5. Is there some amount of time in your schedule that you could devote to something different, but you’re hesitant because you’re afraid of not following through even with a little bit of energy directed towards change?

6. If you knew for certain that your income plans would succeed exactly as expected, and all you had to do was come up with the plan, then what date would you set for your goal to be realized?

7. Can your plans be multiplied? For example, if you would like to achieve the $5000 in passive monthly income in 2 years instead of 10, then could you identify an income producing project that provided you with the initial $100 then duplicate then seek to duplicate that effort through multiplication? For example, If you were able to set up a system to create recurring orders for a product you were marketing, could you do this for 5 products within that year? Or, what if you developed a strategy to invest in positive cash flow producing real estate and each property provided you with $100 per month in positive cash flow. If you wanted to accelerate your results, then your question would be, ‘how can you duplicate your effort’? The simple answer to the real estate example could be to purchase multi-unit buildings.

There are certainly other possibilities, the point is that it is the combination of all these personal things that come together to determine your plan: values, priorities, causes, desires, interests, money goal and TIME to fund your desired lifestyle. The plan and activities to bring it into reality is developed based on all these criteria.

The significant information that you need first is what your monthly income target is and what is the date you intend to have accomplished your goal? These 2 pieces of information are required before you can select the activities, not the other way around. Sorry, it just isn’t as effective. Our job is to do what we can with our goals set in stone and the plans in sand. This way, quite honestly, you have set up a foundation to connect God, money and real life so God can do what you can’t. It all just takes a shift in thinking, and certainly requires a commitment, to follow through regardless of delays, disappointments and uncertainties. But ultimately it’s your life. If you’re not willing to commit to following through, then that’s ok: just make sure you recognize that you’re playing a different game and don’t ‘try’ to win a game you’re not prepared to fully play. You don’t have to have all the specific plans mapped out as long as you know how the game is won; in finance that means the time and the money. The rest will fall into place as you pursue the activities taking you in that direction.

PS – There is also an expanded version of this article in the MoneyMinding mVillage online resource.  You can access this resource by registering for access to mVillage here.

(c) 2013 Tracy Piercy, CFP.  If you like this information and are interested in reprint information for your business please call me at 250-592-0457 (pacific)

What can you do with $10 in 10 days?

Greetings,

What can you do with $10 in 10 days? I just discovered I can write an entire book. A 52,000 word manuscript was started last Thursday and delivered today as a submission for a publishing contest with www.wordalivepress.ca . If you want to find out how you can start with $10 to create an infrastructure for ongoing and sustainable income then let me ask you what you’re doing for the next 3 months?

If you’d like to find out what and how you can create immediate and ongoing income within the context of a solid financial foundation for yourself over the next 3 months then let me invite you to join me starting the first week of July for the first ever Power Money Course.

In the last 3 months I’ve set up a website and ecommerce platform and have started working with 10 Project M Leaders and Participants on the development of their income projects and on the development of Project M to reach a wider audience. What would you like to establish for yourself as a foundation for creating income?

I’m getting ready to launch the first ever Power Money program to run this summer. In the 3 months from July to September I’ll share all the specific information, strategies and plans for you to develop your own income plans starting with $10.

The Power Money course covers the entire Project M blueprint. Project M is the year long program to start with $10 and double it each month so that over the year your income target is over $40,000. The course provides training on:
· Developing a wealthy mindset,
· Implementing solid money management skills, and
· Creating sustainable income.

Here’s how you can get involved:
1. Take the Power Money Course. The first session is 50% off what it will be this . The program starts the first week of July so don’t wait! All the sessions are recorded so you won’t miss anything if you’ve already got summer vacations planned AND you’ll have everything you need to implement your own Project M blueprint. Plus, you’ll get personal attention from myself and the Project M Leader Apprentices! An amazing value!

For this introductory program the group size will be limited so it will be just right for support as well as masterminding and networking with other like-minded people.

Information and registration for Power Money here.

2. Join me and the other special group of Project M Leader Apprentices and Participants to fully implement a Project M into your own life this year! If you’re a financial professional, life or business coach who works with people and their money, being able to integrate the Project M and Power Money courses into your practice will give you a unique program to offer your clients!

I have room for 2 people only for this one time only opportunity. One time only, because as you can tell Project M and the various components are being developed for distribution on a larger scale. Participants and Leader Apprentices are invited to share in the rewards from the development on an ongoing basis. This program is unique, it’s powerful, it’s not theory, and it’s not linked to any specific investments or businesses. AND until July 1st ONLY 2 more people have the opportunity to participate in the development and have the additional opportunity to earn ongoing royalties for their participation!

Email or call me directly about this special opportunity – just don’t wait because its summer! We can work around summer holiday’s and busy schedules, July 1st is the last opportunity to participate in ongoing potential royalties from development though!

3. Help Support the MoneyMinding Foundaton and Increasing Financial Capacity by becoming a $10 member. When you do, you get access to mVillage which give you among other things, The Death by Money Report introducing the concepts and this powerful blueprint for creating income for today and tomorrow, all within the context of a solid financial foundation.

Information and registration for mVillage here.

Blessings,
Tracy

PS – There is so much to share in the weeks ahead. If you follow me on social media you’ll be first to know and have early bird opportunities for and upcoming contest and new program!!

How to Create Unlimited Income Starting with $10

This FREE Webinar was / is available now through The MoneyMinding Foundation.  There was a huge response which really isn’t a huge surprise given the message so incase you missed it – you can access the recording here.  Below is the information on the event that I promise is packed with information and isn’t just a gimmick to get you sign up for some investment or business strategy.

____________________________________________________________

Waaaayyy too many people don’t even take the first step because they simply don’t believe. They don’t have faith. They just can’t see how it’s even possible, so they immediately dismiss the whole idea as a scam, or deceitful tact attempting to then swoop in with some sort ‘get rich quick’ scheme. They say things like, ‘what’s the catch?’ and assume there must be a product or business strategy going to be pitched.

UUGGHH! Yes, there is wayyy too much of that and for too many years people have got their hopes up only to be disappointed so now they’re jaded. Honestly, this is Tracy speaking from her heart here, “I have been so badly burned and disappointed myself over the years, that the saddest part of what I do is to listen to the naysayers who are looking for something different and are just too tired, stressed, or beat up to keep looking.

Unlimited Income is a FREE webinar. I promise you it won’t try to sneak anything funny into the process. This program is designed to give you an introduction to the question that everyone wants to have answered, “how can I do that?”. It’s your perfect opportunity to find out more about the paradigm shift that MoneyMinding presents in personal finance, AND, what that means to you – today.

My intention is to provide valuable information that you can act on immediately if you want. I’d also like to invite you take further steps in your new money journey and this event will help you figure out where and how to begin.

Click here for dates, times, and / or recordings to register!

Looking forward to sharing the ‘how’ with you!!

Write a New Money Story

Nobody likes to talk about money except financial professionals who do it for a living.  Even then they will talk with their clients about their money, and they’ll discuss the markets and different money strategies, but they will rarely discuss their own finances.

Money is a extremely personal and intimidating subject regardless of whether you have millions or minimums.  Because of this everyone is left to make up their own rules through trial and error and ad hoc learning.  (or maybe this is why it’s so intimidating, but that’s a chicken and egg story to explore later).

The ‘shoulds’ and ‘should nots’ about how to manage money are adopted over time and become our beliefs from which we make our money decisions.  But are these beliefs really serving us?  The problem is that once you have a belief about money you will hold onto it and are unlikely to question that underlying belief.  This means that you’ll make your financial decisions in line with your core beliefs – which have been adopted over time by ad hoc learning and trial and error – and may or may not be serving you.

A great example of this is the commonly expressed idea that all you have to do is ‘live within your means’.  Or said another way, ‘all you have to do is ‘spend less than you earn’.  But a subtle shift in perspective will accomplish the same thing in a way that actually increases your capacity with money, rather than reinforcing fear, scarcity and dependency.  This shift is ‘all you have to do is earn more than you spend’.

It’s only when you are faced with a significant financial situation that you’re likely even be open to new ideas that challenge your beliefs.  But, given the current economic climate it seems that people who have been intimidated to ask questions or to look at alternative views to solve their money issues are going to have to shift their beliefs quickly if they’re going to be able to navigate the changes on the horizon.

As we start the New Year, here are a two key financial areas that will challenge the conventional view of money.  These concepts are necessary to help create a paradigm shift in your thinking which will ultimately affect your plans and your results:

1.  Debt.  ‘Get out of debt’ teaching will sabotage our society; plus reinforce scarcity, inferiority and guilt.  The reason anyone wants to get out of debt is to use their money more effectively and ultimately so they have more money to spend and invest to create more wealth which creates more income which gives them more money to spend and so on and so on.

The goal is to have money to spend.  And spending money fuels the economy which is good for everyone.  This doesn’t mean that everyone should keep their unproductive debt or spend frivolously.  It means that to do a complete debt evaluation and create a debt management system, you have to develop a strategy to manage the current situation, then create income to fuel your lifestyle, and finally find out how to use this powerful tool called credit effectively to enhance your wealth.

Re-write ‘get out of debt’ and substitute it with ‘earn more income to support my lifestyle’.

2.  Retirement.  The concept of retirement is almost impossible today.  The idea of working then not working and living off your pension and your savings has only appeared to have worked for one generation throughout history:   the generation immediately following World War II.  It is virtually impossible to save enough to support your pre-working lifestyle in today’s economy.  And even if you do manage to do it, you will spend your working life wondering if you’ve saved enough and if you’re getting a good enough return on your money.  Then when you stop work you’ll be concerned with not losing what you have, or not having enough so that anyway you look at it, the concept of retirement in the conventional view is going to cause you to have financial stress.

The real plan is to become financially independent so you have enough income to support your lifestyle, whatever that might be.  This may or may not come from savings and in all likelihood is best to come from several different sources.

Re-write ‘retirement’ as ‘financial independence’ and start learning about ways to earn sustainable income outside of your job.

The biggest challenge you will find is that the commonly accepted language and strategies will all revolve around these 2 primary, seemingly sound, financial activities.  Financial professionals are trained to help their clients make investment and lending decisions and their products and services are primarily debt and investment products that are not about helping create sustainable income for life.  They can help you with income products once you have some money, but the fuel for your entire financial plan as well as for your life requires you to be able to create income that will fuel your lifestyle without you having to work 40+ hours a week until you die.  When you can take this approach your discussions with your financial advisors will open possibilities for different products and services and strategies where flexibility is important and rate of return is less important.

This means, that you will be a minority, but statistically speaking the minority is the group that ultimately has the wealth J  Happy Writing!

PS – There’s a ‘makeover’ underway at MoneyMinding.  Make sure you subscribe at www.moneyminding.com to get the new ‘Triumph Over Money’ report, and the be the first to hear about the MoneyMinding Makeover with mVillage special for only $10/month, or $100 a year!

Producing Abundance Despite Apparent Lack

47 During the seven plentiful years the earth produced abundantly, 48 and he gathered up all the food of these seven years, which occurred in the land of Egypt, and put the food in the cities. He put in every city the food from the fields around it. 49 And Joseph stored up grain in great abundance, like the sand of the sea, until he ceased to measure it, for it could not be measured.

53 The seven years of plenty that occurred in the land of Egypt came to an end, 54 and the seven years of famine began to come, as Joseph had said. There was famine in all lands, but in all the land of Egypt there was bread. 55 When all the land of Egypt was famished, the people cried to Pharaoh for bread. Pharaoh said to all the Egyptians, “Go to Joseph. What he says to you, do.”

56 So when the famine had spread over all the land, Joseph opened all the storehouses and sold to the Egyptians, for the famine was severe in the land of Egypt.57 Moreover, all the earth came to Egypt to Joseph to buy grain, because the famine was severe over all the earth.  Genesis 41:47-49,53-57

The story of Joseph has been told so many times and offers so many lessons that sometimes it’s easy to think we know the story and that’s that.  However, when you stop learning you become complacent and ineffective and self-centred – not exactly qualities of following God’s will.

A couple of years ago I was asking the Lord for some insight to why the commonly accepted financial wisdom was to accumulate money for the future (not that this is bad, it’s the emphasis on it for retirement that is perplexing)  He lead me to the story of Joseph and revealed some interesting principles that address so many financial issues that cause uncertainty for people today.

Typically the interpretation of what Joseph put in place in Egypt after interpreting Pharoph’s dream of 7 years of prosperity followed by 7 years of famine is that the Egyptians saved up the food during the good years so they wouldn’t starve to death during the famine.  It’s interesting to note that the passage doesn’t mention any fear running out or not having enough, nor does it mention storing the food just for the Egyptians.

What the passage actually says is that the Egyptians produced the food from the land and it was collected and stored in the cities throughout the country.  When the famine came, the Egyptians sold the food locally and to people who came from abroad.  Producing the food from the land, meant they processed it in some way and selling it meant they created income from their efforts.  In this way, what they created was a sustainable economy.

It seems to me that God provided fruitful land from which the Egyptians could work together at the local level to use their talents to produce goods that benefited them and others.  Because the produced food was available in cities throughout the country they had a distribution network so the produce was accessible to and beneficial to many people.

Today to produce abundance means despite an apparent lack or gap I resources, means you have to first focus on the prosperity that you do have available, then find a way to produce something of value to others; particularly something that is essential and consumable.  Then work with others to create a system to sell your goods.  This is the entrepreneurial spirit of infinite possibilities that creates abundance, rather than stockpiling for personal survival with a concern that you might not have enough or might run out.  Your plan doesn’t have to be huge with a worldwide audience, it just has to start with a mindset of creating a sustainable income in your personal economy by considering the needs of others as well as yourself.

You can read more about the consequences of our current thinking around personal finance following the accumulation model in The Death by Money Report available at www.deathbymoney.com

Why does it seem so difficult to apply financial knowledge to get real results?

I’d like to invite you to join me in September for and exploration of God, Money and Real Life.  If the bible has so much to say about how to manage our money and there seems to be such a growing volume of people offering financial education, why do the studies also show that there is also a growing number of people struggling financially?

  • Could it by that there is a resistance to the information?
  • Could it be that vast numbers of people deny that additional financial information is important or could make a difference?
  • Could it be that the personal application of the information isn’t understood?
  • Could it be that many people just assume they already know how what to do to manage their money and make good financial decisions based on what they’ve done or learned in the past?
  • Could it be that much of the information being taught today is still only half the story?

Whatever the reason, there is no doubt that money, and in particular God and Money together, are:

  • Essential topics today
  • Controversial topics today
  • Require a fresh new look in order to create the paradigm shift so many people desperately need in their lives as it relates to money today.

I invite you to join me on a 4 week journey beginning Friday, September 7th at noon pacific to discover and apply some of God’s foundational principles of money as it relates to real life today.  The objective isn’t just more knowledge.  The objective is application, which means getting results.  And I promise you that with God’s blessing, it has the potential to provide the missing link between His living word about money, and your own life situation.

What qualifies me to teach about God, Money and Real Life?  For over 20 years I’ve been working in financial services; over 15 years ago God gave me insights to a missing link between financial information and the real-life application of that information; and his purpose for my life to share this information has taken me on a journey that sometimes feels like Joseph’s journey during the period of time from the pit to Pharaoh’s Palace:  a persevering spirit guided by the Lord.

We’ll cover:

  • Where to start?
  • What are your money goals (and why)?
  • How do you get from where you are to where God wants you to go?
  • Our financial systems are more complicated today than thousands of years ago, what do you need today to apply real life      with God’s plan for you and your money?

Here’s how it works:

1.  Register today by either:

a)  ordering online here, or

b)  making a donation here, or

c)  contacting me directly to make arrangements
2.  Before the program begins on September 7th, I will send you online access.  Depending on the total number of registered, we will either meet for our weekly sessions by phone, or by online video access.

3.  Each week we’ll meet as a group for the lessons and discussion, and each week I’ll provide you with follow up materials and ‘homework’.

4.  If you aren’t able to make a session, or if you’re away, that’s ok, because all the weekly sessions and follow up materials will be archived and available online.  The online access will also include an opportunity for you to share thoughts ideas and questions and to communicate with others in the program if you chose.

Hope you can make it and looking forward to sharing more with you.

~ Tracy

PS – If you’re just not sure, then please visit www.deathbymoney.com to order your copy of my new book, The Death by Money Report, to get the background information and to find out why this message so important today!

Debt Won’t Sabotage Your Retirement (and our economy), but how you view it will.

In the past few days I’ve received a few related articles on the impact of debt on retirement and the stress it causes.  Here are a couple of the recent ones:  Majority of Retirees Carry Debt and Boomers will Retire in Debt.

Before I carry on though, it’s important that you understand that this discussion is not to be interpreted as advocating reckless spending.  I have to begin with this disclaimer because money and debt have such strong connections to negative emotions that it’s critical to pre-empt any mention of anything slightly unconventional with the caveat that there are proper strategies for all of this and that money isn’t something that most adults received a foundation of knowledge in.  Dealing with financial matters requires good communication with financial professionals, but professionals are not money counsellors, or teachers, and most of this isn’t part of the standard financial curriculum in any case. You need to do your part in understanding your options and work with professionals to implement the plans!

What is so upsetting about this emphasis on debt reduction in favour of asset accumulation is the seemingly absent recognition that consumer spending and consumer confidence fuel our economy.  The continuous emphasis on ‘get out of debt’ so you can save a big pot of gold so then you’ll have more money to spend is only a half truth.

We actually don’t need savings – we need an ongoing source of income to provide for our basic lifestyle needs and other opportunities and emergencies that come up along the way.  The fuel for spending is income.  Income can be generated in many ways, yet the conventionally accepted view is that income is a more or less static variable in the financial planning process and that providing for financial needs after work will come from selling off assets (the accumulated pot of gold).

I am not aware of anything more stressful and unsettling than to life day in and day out with a nagging voice of doubt that maybe you shouldn’t be spending money on this or that because you have to get rid of the debt and add to your savings.

This commonly accepted view not only creates uncertainty, it also creates an environment where the scarcity mentality it feeds is prone to inappropriate financial decisions, bad investmenst, and isn’t generous towards others and social causes.

The lessons we’re teaching our young people who are watching their ‘retiring parents’ is that its perhaps better to not even ‘try’ to do something significant because the cost to get there is going to be too high and they ‘won’t be able to afford it’.  (check out the CBC report on ‘Olympic Dreams and Olympic Debt’).  Instead of pursuing worthwhile dreams, many people simply resort to a life of silent bitterness or resentment where they slowly become more and more self-centred and fearful of running out of money and not being able to support themselves.

This self-centredness becomes a distraction for a whole range of social issues because people go looking for an outlet – hmm, look at how sex has become so commonly accepted in mainstream media.  People look for a way to manifest their desires somehow. Unfortunately, we are fed a constant stream of enticing images and messages about how to fuel some sort of desire we might have forgotten about or not realized we had with some kind of material good.  Of course, the fulfilment of desires through possessions has an economic advantage to the business selling the goods and on some level will fulfil needs and desires of the person purchasing so there is certainly some benefit to the marketing information – until, however, the reality sets in and guilt and fear occupy thoughts with no end in sight other than further denial.  It’s a cycle that isn’t good for the individual, for the family, for our communities and for our entire economy.

So what’s the answer if it’s not go ‘cut back spending, to get out of debt, and to save a bigger pot of gold for the fairyland called retirement’? 

The answer actually isn’t rocket science but seems to be a huge struggle for many people because they have grown up in this culture of self-centred financial support which focuses on getting a good education so you can get a good job, then learn to manage your money on your own once you’ve got the job.

It seems that conventional teaching has completely left out the fuel for the entire plan which is the creation of income.   There are many many ways to create sustainable incomes besides a job or two or three.  It doesn’t take a big pot of gold for you to be able to retire and create more income from your investments, it takes independent thinking that knows the difference between earning less than you spend, and spending less than you earn.  It also takes financial confidence to know how to maximize the effectiveness of your finances so you are ‘leveraging’ all your assets including access to credit, to create sustainable income that creates wealth that creates further income and so and so on.

We have to realize that getting out of debt by cutting back spending will actually reduce our freedoms, lower our standard of living and NOT provide the peace of mind or independent thinking that will assist in creating the extra funds for the additional spending money you’re looking for to satisfy your personal interests, desires and higher causes.

Remember, I didn’t say to continue to spend recklessly and to hold on to high interest non-deductible debt or to just spend on selfish desires.  I’m saying that the way to win the war on debt and to create financial independence that will enable you to choose to leave work if you want (ie enable you to retire) is to learn how to earn sustainable income, to manage that income and all your other financial resources effectively (not just by looking at interest rates and rates of returns), so you can maintain your personal economy, while also helping others and ultimately our entire society!

To find out more about how a $10 solution can save your financial life, visit www.deathbymoney.com to order The Death by Money Report.  To Read my specific responses to these and other similar media articles become an mVillage member to read and respond and comment on this important issue.  To find out about live, personal and one-on-one MoneyMinding Mentoring please contact me directly at tracy@moneyminding.com to see if this exciting new concept is right for you!

 

Are you making money decisions from a spirit of fear, or spirit of confidence?

Decisions made from fear are more focused on the potential loss, risk, harm, or missing out.  Confident decisions come from applying the necessary skills and knowledge to analyze a situation from a practical, business-like position.

For example, if you have recently read something about investment fees and other negative impacts of active money management you could be tempted to convert all your investments to an alternate type.  This same situation can happen if you experience a drop in the stock market and you’re tempted to pull all your money out and invest it in real estate or fixed income certificates.

Another common situation is the one where you feel that the amount you have saved is going to cause you to work for the next several hundred years in order to finally be able to ‘retire.’.  In an attempt to alleviate this fear, you perhaps make a decision to take charge of your finances and start attending seminars on how to reduce your debt and increase your savings.  The biggest challenge with this is that the overwhelming majority of seminars are offered by people who are selling a particular product to fit with the information they have just taught you, or they are people who do not have a professional background and are therefore presenting strategies that are from their personal experience (which is good), but won’t have the connection to the technical aspects of the financial industry.

This situation leads to decisions that are often made with partial knowledge such as looking at reducing interest rates on mortgages or credit cards, but inadvertently reducing your long term flexibility or ability to access credit.  Credit scores are a complex serious force with far reaching consequences.  Anything at all to do with credit must be carefully calculated and considered with expert consultants.

So what do you do?  A solid financial foundation of skills and knowledge was not part of any formal curriculum for every adult trying to make these decisions today.  Because of this, the knowledge gap isn’t even recognized so we have decisions that appear to make sense on the surface based on ad-hoc, circumstantial information, but ultimately require a leap of faith to implement.  This type of decision making ultimately ends up being more like unconscious gambling, rather than a methodical, calculated, confident process that connects all the unique person circumstances to a desired outcome.

The first step is to realize that money is a dynamic, every increasingly complex situation, where decisions are not black and white.  Because of this, the component of the decision making process that can be controlled is your own values, priorities, goals, interests, passions, and unique purposes.  From here, the process of making decisions, implementing strategies and deciding on specific product solutions is a sequential balance of earning vs. spending; of saving vs. investing; of risk vs. reward; of growing vs. maintaining; and of the needs of today vs. the needs of tomorrow.

To find out more read The Death by Money Report at www.deathbymoney.com and plan to attend a Death by Money, Life by Faith interactive workshop.   The next live one is June 7th at 7pm PST.  Registration is required and attendance is by donation.  info@moneyminding.com