Bill’s Blog | December 9, 2022
Over my career, I have sat down with hundreds of individuals and couples and discovered a common problem. It did not matter what education they had or what career they chose (business owner, professional or employee); most people lack basic financial education and consequently make many poor decisions over their lifetime. Let me share with you Canadian stats to prove my point.
- 90% of Canadians don’t consider the lifestyle they want in retirement enough.
- 32% of Canadians aged 45 to 64 have no retirement savings.
- 43% of women over 55 don’t have a retirement plan.
- Only 1/3 of Canadians have a Budget.
- Canadians are up to their eyeballs in DEBT! 50% of Canadian hope they will have no debt in retirement. Yet, many Canadians carry a 182% debt load to their income.
- The earlier you start building wealth (the 20s), the better. Many Canadians do not start building wealth until their 50s which will prove to be a problem for many to accumulate sufficient wealth.
- The average retirement income in Canada is $34,000 per year. Well below the ideal of 50 to 70K.
- Canadian retirement savings statistics further show the average amount held in RRSP accounts was $111,922. While financial experts calculate you need $700,000 to 1 million to retire comfortably. *Best not to put 100% in RRSPs as this is 100% taxable income.
- 45% of Canadians think they will still be working in some way when they retire. The new 65 is 68 years old to 70 plus for many Canadians due to poor planning, financial setbacks and carrying debt into retirement.
- Less than 4% of Canadians will retire statistically wealthy, having over 2 million assets and no debt! The main reasons are a lack of financial education, proper financial discipline and diversified strategies over one’s lifetime!
In my six-lesson online course, I cover the most critical topics to help you build sizable wealth and how to prevent making big financial mistakes. In past Blogs, I have covered how difficult it is to build wealth, but I believe with proper knowledge and financial discipline, one can achieve incredible goals! So, what will you learn in taking the Wealth Foundations Course?
- You will learn how critical it is to define wealth for yourself, and I will help you develop a Wealth Plan or adjust a current plan.
- Why is having wealth mentors essential, and how do you choose the right people?
- I will share what prevents people from building wealth (The Main Reasons). But I will teach you foundational principles and disciplines essential to building wealth and not taking big hits to your plan and capital. So the course is NOT a quick-rich scheme, but proven principles and sound knowledge to create lifelong success.
- As with all vital areas of our life, there are things to avoid, pitfalls and risks. I will cover many critical things with you that I have had to learn in my wealth journey. Yes, I have made several mistakes and had to learn from the school of hard knocks, especially in my early years. Hopefully, this will prevent you from the painful lessons I needed to learn.
- Being in the financial industry for many years, I have observed that very few advisors mention critical financial cycles. Have you wondered why our current world is so volatile? It is critical to your financial success to understand the significant cycles that will affect your wealth. I cover several cycles converging right now, which will help you avoid taking huge losses.
- The whole point of this course is to equip you to develop your own personal wealth plan and teach you the essentials. I will walk with you step by step.
So why should you take the course?
- You recognize you need to learn more about financial matters and how to build wealth successfully. Ideal for a person in their teens to 70s!
- It is challenging to teach our kids about wealth and handling money, whether they are teens or adults. The course is ideal as a gift to help them learn the skills necessary to have a better future.
So, what will you receive in the course?
- There is an introduction video, and then I will teach you the six core lessons via video. Lessons are between 15 to 30 minutes.
- Each lesson comes with a printable PDF so you can take notes and follow along with the content.
- A brief quiz at the end of each lesson highlights vital points.
- Being online, you can do the course individually, as a family or couple and do it multiple times. Once you sign up, you have 90 days to enjoy the course.
- The Wealth Foundation Course can be completed over a weekend or a couple of evenings.
- The course comes from my 30 years of experience as an investor and business owner and the many lessons I needed to learn and apply myself. What I teach, I do myself! There are no hype, just honest and actionable lessons you can apply to your life.
- All this for $49 CA at a special Christmas offer.
To take action, please follow the simple online process on my website: https://fivefoldfinancial.ca/wealth-courses/
***Scroll to the bottom of the page and hit the “One Payment of $49 CA” link. Thank you, and enjoy!
Bill Westmacott, Owner
fivefoldfinancial.ca