Forest Financial Planning

11/14/2023

🎉 Happy Financial Literacy Month! 🎉

As we celebrate this month dedicated to boosting your financial know-how, I'm excited to share one of the most powerful budgeting tips that can transform your financial journey: "Paying Yourself First!" 💰

Imagine your finances as a magnificent forest. Every month, you receive your income, which is like the life-giving rain that nourishes the forest. Now, you could channel this rain into watering all the trees and shrubs first, leaving little moisture for the tallest, most majestic tree—the one representing your future. Or, you could let that life-giving rain quench the roots of your tallest tree first.

That's what "Paying Yourself First" is all about!

Being a financial planner, I often hear people say, "I'll save whatever's left at the end of the month." But let's face it, life has a way of distributing that rainwater to all the trees in the forest, leaving the future tree parched. This is where "Paying Yourself First" comes in. Make nurturing your financial future more essential than spending your money and giving it to others.

So, how do you do it? Here's the secret to growing your financial forest:

Set up automatic transfers: Arrange for a portion of your paycheck to be automatically routed to a separate savings or investment account, just like channeling rain into the roots of your tallest tree.

Build an emergency fund: Create a safety net to weather unexpected financial storms, equivalent to providing shade and shelter for your forest during adverse weather.

Invest for your future: Once your financial forest is healthy and thriving, consider investing your savings. The earlier you start, the more your financial trees can grow and multiply.

Set clear goals: Just as a forest has diverse trees with various purposes, identify specific financial goals, such as saving for a dream vacation, a down payment on a home, or retirement. These will guide your nurturing efforts.

By adopting this habit, you prioritize the growth of your tallest, most majestic financial tree, securing the entire forest. As you water your financial forest, you'll enjoy the lush greenery of security and financial freedom.

So, let's celebrate Financial Literacy Month by making "Paying Yourself First" your new favorite financial gardening technique.

Your financial forest will thrive, and your future self will stand tall and proud in its shade. Happy nurturing! 🌳💵

04/22/2022

Happy Earth Day!

Today, our team is dedicating a few hours to cleaning up our Ottawa Parks and Forests. Little steps matter when multiplied.

The same goes for your finances! Little steps and consistency gets you to your goals.

Reach out if you would like to learn ways to make your portfolio more climate friendly using true ESG investments (not just ETFs with ESG names but poor sustainability scores). We are glad to help!

https://www.google.com/doodles/earth-day-2022

01/07/2022

Canada Greener Homes Grant is in effect! This could be a good time to change old windows or improve attic insulation.

See the link below for more information:

We are working hard to process applications and respond to emails as quickly as we can. Applications are being processed on a first come, first served basis. We appreciate your patience and understanding as we clear the current backlog. Once your application is validated, you will receive a confirma...

12/28/2021

A simple way to save money while helping the environment. It would be nice to see this in Canada.

12/23/2021

We wish you a Happy Holiday season and a peaceful and prosperous New Year.

Warmest wishes,

Forest Financial Planning

10/27/2021

Forest Financial Planning is a fee-only financial planning company. Meaning our fee is as transparent as can be.

Our only source of revenue is based on the hours we spend on your financial planning needs. We are compensated for the time we spend on your financial well-being.

Our conversations with you are not spent trying to sell products or attract more assets, but rather giving advice according to your specific goals and unique financial situation.

Have a look our website to get in contact with us!

10/26/2021

Understanding your finances and knowing that you have the right plan for your unique situation can make you feel as peaceful as the landscape below.

10/25/2021

Starting early and building a plan can make a big difference in your children's financial future!

04/23/2021

“If re-elected, the Liberals said they would increase OAS by 10% for seniors over age 75 and raise the CPP survivor’s benefit by 25%”

If re-elected, the party would increase OAS by 10% for seniors over 75

04/20/2021

Luxury tax: The proposed approach to tax the wealthy. It could generate $604M in revenues over five years.

“The federal government’s first budget in two years proposes a new tax on luxury goods such as yachts, personal aircraft and cars.

The tax would be applied to cars and personal aircraft that retail over $100,000; and boats for personal use that retail over $250,000. If the budget passes, the tax would come into effect on January 1, 2022.” - CTV News

What are your thoughts?

https://www.ctvnews.ca/politics/luxury-tax-on-yachts-cars-and-personal-aircraft-laid-out-in-new-federal-budget-1.5393511

The federal budget proposes a new tax on luxury goods such as yachts, personal aircraft and cars. The tax would be applied to cars and personal aircraft that retail over $100,000; and boats for personal use that retail over $250,000.

11/19/2020

One of the first steps in financial planning is setting goals. When writing down your goals you should remember the SMART acronym:

Specific: What are you looking to achieve? Who will be involved in helping you achieve this goals?

Measurable: How much money will you need to achieve this goal? How will you measure your progress?

Achievable: Do you have the right resources to make it happen? What lifestyle changes will you make to achieve your goal?

Relevant: Why is this goal important to you? Is it the right time to focus on this goal? Does achieving this goal help you reach the lifestyle that you desire?

Timely: When do you want to reach this goal? What can you do in the short, medium and long-term to achieve this goal? What can you do today?

Don't just set goals, set SMART goals!