A Common-Sense Approach to Building Financial Wealth

Canadians are struggling to meet their own needs and aspirations while grappling with paying down debt and keeping up with the rising costs of housing, retirement, lifestyle, healthcare, and education.

The Significant Life System™  offers an important paradigm shift regarding wealth-creation. It questions the financial assumptions we’ve come to accept without question and provides alternatives to “conventional” financial planning.

The Significant Life System™ is a collaboration of rational principles, strategies, and concepts about how to address the financial challenges facing you today.

Several of the principles and strategies used precede the rise of mutual funds, RRSPs and the financial planning industry, and focus on how to optimize wealth by keeping it within your control, rather than handing the keys of your financial future over to large financial institutions and the government, all of whom have their own agendas.

The Significant Life System™ combines traditional and new wealth-building tools, such as private business ownership, real estate, saving, borrowing and transferring wealth, with dividend-paying whole life insurance. It’s NOT about taking large risks in the stock market or putting your nest egg into Registered Retirement Programs in which the government gets to tax you later.

For an inside look at financial tips and resources from my Significant Life SystemTM such as:

  • The Significant Life SystemTM Annual Review Checklist: See what you can do now to make improvements to your financial profile.
  • Guide to 3 Ways To Increase Cash Flow by 5-17% in 19 Minutes or less: A short guide of 3 simple strategies that can increase your monthly cash flow by up to 17%.
  • A case study to increase retirement income by over 30%: Review a case study about a client’s financial profile that improves every year by increasing cash flow and reducing taxes, and doing so without having to change their lifestyle spending.

The chart below provides an overview of The Significant Life System™ as compared with typical financial planning methodology:

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FINANCIAL PLANNING

VS.

SIGNIFICANT LIFE SYSTEM™

Meets needs and goals only Pursues wants and dreams
Based on limited ideas of “what you can afford” Based on unlimited ideas of “what is possible?”
Minimizes requirements Optimizes opportunities
“How much do I have to save?” scarcity mindset “How else can I build wealth?” abundance mindset
Product-oriented (what you buy) Strategy-oriented (what you do)
Focus is primarily on buying certain products or investments Based on time-tested principles and financial philosophies used to build wealth
Focused on rate-of-return Focused on recovering opportunity cost
“How much is this earning me?” Keep more money working for you
Institutions control your money You control your money
Put your assets “under management”, (and/or give control to government) Maintain responsibility for and access to your assets and funds
Silo based thinking Macro (big picture) Based
Address each aspect of your financial plan as a separate piece: investments, taxes, insurance, etc. View your whole personal economy collectively
Net worth is measurement Cash flow is measurement
A bigger portfolio is the goal The goal is more money to enjoy each month
Benchmark Performance Absolute Return Focus
Success is based on a constantly moving target, which is sometimes negative! Success is measured by consistent positive improvement
Retirement oriented Abundant/Freedom oriented
Your reward for work is not working Enjoy your work and your life…ALL lifelong!
Live on the interest only Spends and replaces principal
Reliant on interest rates, hoping you won’t need to use principal A flexible, sustainable way to live
Money stays still Money moves
Assets are accumulated into accounts where they sit, financially “stagnant” Money flows in and out of your accounts, increasing the velocity of your money and its value
Dollars do only one job Dollars do many jobs
Spend each dollar for one purpose only: saving,  education, retirement, major purchases Dollars are used for flexible and multiple purposes.
Professional planner is the expert Clients are empowered
Finances are represented as something confusing that should always be delegated Money is demystified. Education-based approach builds financial confidence and ability to act

The Significant Life System™ also utilizes different strategies than conventional financial planning.

Ask yourself “Should I…”

  • Give my money to investment managers who charge “management fees,” but don’t have any of their own money invested alongside mine?
  • Give my money to investment managers who get rewarded even when my investment produces a negative return?
  • Max out my RRSPs and hope that I’ll someday have enough to live on without running out of money in retirement?
  • Take tax deductions now by putting money in a Registered Retirement Plan, only to pay more taxes later at an unknown tax rate?
  • Tie up all of my dollars in accounts that restrict access to my money and penalize me with higher taxes if I use too much of money at one time?

If you aren’t convinced that one or more of these ideas is the best thing to do with your money,  check out these FREE resources for a different perspective on your money, starting with

The Significant Life SystemTM Annual Review Checklist