When it comes to money and investing, a lot of people fall into the same trap: chasing what’s “hot” right now. If a certain stock, sector, or trend is making headlines, many will jump in—hoping they’ve found a “sure thing.”
The funny thing is, that’s the exact opposite of how real planning works. Whether it’s a financial strategy, goal setting, or life in general, lasting results come from acting before the proof is obvious.
Think about New Year’s resolutions. When you commit to exercising three times a week or finding a new job, you’re betting on something you want, not something you already see. At first, there’s no evidence it will work—but over time, if your actions match your intentions, results show up. Eventually, you may even enjoy the process.
The problem is, most people want proof first. In reality, it works the other way around: action comes first, then proof follows. History is full of examples—Gandhi imagined a free India long before there was any evidence it could happen.
A financial strategy works the same way. When you buy a car, you get the keys immediately. But when you sit down with an advisor to map out retirement, you’re taking steps today for something you might not see for 20 or 30 years. The only “evidence” we have is the past—and while it can guide us, it can’t guarantee the future.
That’s where both wise behavior and a little luck come into play. Advisors can point to past success stories, but your journey will be unique. You might even do better than expected—but there are no promises.
The smartest path? Follow proven strategies to build wealth as efficiently as possible, while tailoring them to your comfort level, lifestyle, and financial situation. Your plan should factor in your health, earning potential, savings ability, and resilience against life’s bumps—like recessions, job loss, or unexpected expenses.
Once the key pieces are in place—saving tax-efficiently with RRSPs or TFSAs, managing risk, and living within your means—the next step is to give your plan the one thing it truly needs: time.
But don’t confuse that with “set it and forget it.” The economy changes. Government policies shift. Markets evolve. These things will impact your plan, which is why regular check-ins and adjustments are crucial.
And then there’s luck—the wildcard you can’t control but can certainly be ready for. Who could have predicted that real estate values in some Canadian cities would skyrocket, giving many Baby Boomers an unexpected boost to their retirement? Sometimes, simply owning the right asset at the right time makes all the difference.
In the end, good planning is about creating the conditions where luck can work in your favor. Preparation doesn’t guarantee success—but it sure stacks the odds.
Let’s talk about how to combine smart planning with life’s unpredictable twists to help you reach your goals.
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