18 • The Columbia Valley Pioneer
June 3, 2011
YOUR MONEY
Seven ways to simplify your finances Although many of us dream of the simple life, the reality is life is anything but simple. With our careers, household chores, responsibilities to friends and family, and other interests and commitments, life can get pretty complicated pretty quickly. That’s why it’s important to simplify, so we can reduce our stress and free up more time for the things that matter most in life. You can start by simplifying your finances and here are some tips. While these tips won’t put your financial plan on autopilot, they can certainly make the task of dealing with your money a little easier.
but contradictory advice. Too much information can be confusing and overwhelming. Instead of reading everything about your investments, limit your information to a single, reliable source. Tune out the rest. Your portfolio will likely be better for it, and so will your state of mind.
to receive regular, tax-efficient income from your portfolio. However, setting up this plan can be complicated; so you should check with your financial professional before making any decisions.
Make investing automatic
Write your will and keep it up-to-date
Knowing your family will be taken care of after You may already pay some of your bills by direct you’re gone will give you peace mind. Manulife Securities Incorporated = of IDA deposit or pre-authorized debits, so why not makeManulife your By keeping an up-to-date will, Securities Investment Servicesyou inc.can = make MFDAthings investment contributions automatic, too? easier (both financially and emotionally) on your grievManulife Securities Insurance Inc. = INSURANCE You’re far more likely to meet your savings goals, and ing family. you’ll also eliminate the hassle of writing cheques. Don’t forget to review the contents of your will evWrite an Investment Policy Statement ery three years or any time there’s a significant change in Englishinvestment decisions may be difficult, but Making your life. An out-of-date will can be just as damaging as “Outsource” your taxesFrench an Investment Policy Statement can help. Preparing your tax return can be a complicated, frus- having no will at all. By outlining clearly-defined investment principles trating chore (even more so if you’re a business owner). Your family lawyer should be perfectly capable of asand a roadmap for building your wealth, an Investment So why not “outsource” your tax return? sisting with your will. 3/16" Minimum size to be used on business cards Policy Statement can guide you in all kinds of market Hiring a qualified accountant to prepare your taxes conditions and keep you focused on your long-term not only makes your life easier, it could very well pay Work with a professional goals. Personal finance can be complicated. Don’t try to do for itself in tax savings that you otherwise might have it all yourself. Instead, find a qualified professional you missed. can trust, and work closely with them to develop a holisTune out the noise tic financial plan that takes care of your personal needs Magazines, newspapers, television shows, the interSet up a systematic withdrawal plan net—there are many sources of financial information vyIf you’re drawing on your investment portfolio, you now and in the future. That’s the best way to simplify your financial life. ing for your attention, most of them offering persuasive can set up a systematic withdrawal plan that allows you 1/4" Minimum size to be used on the standard sized brochures
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