Your Journey to Wealth And Financial Independence

The path to financial independence can follow many routes: 

I had the great pleasure to have worked with a wonderful couple a number of years back who were able to successfully find a way to live rather intelligently and build their wealth quite quickly so that they could retire from their rather stress-filled  jobs at the age of 31. They have just released a book about their journey: Quit Like A Millionaire. A refreshingly simple, but very disciplined approach to accumulating wealth. It was a thrill to watch their portfolio hit that $1,000,000 mark and experience their out-right joy when they gave their notices.

Of course, theirs may not likely be the lifestyle for most folks, but the message is clear. If you set your priorities and make a plan and stick to it, you will get the results you want.

Our High Rock Private Clients are a widely diverse group ranging in age (working, retired, grandparents, parents and children, grandchildren), investing sophistication, career path, lifestyle and where they have chosen to reside (full and part-time).

The one thing that they all have in common is a picture of the future (not necessarily the same picture) like the one above. The one above is for what I like to refer to as a "poster" family.

 A family who started out with me not long after I began my career in the Family Wealth Management world (now almost 20 years ago!) with a home, a mortgage, RRSP's, RESP's (3 kids) and dreams of retirement before 65. They are now only a couple of years away and have knocked the proverbial ball out of the park. We have been through the "great recession" and financial market meltdown together and the combination of good saving (when possible, because there are always struggles) and diversity of assets (including a whole life insurance policy) has seen them through.

But speaking of pictures of the future!

How about this one for a 20-something? With 65 or so years of potential compounding to go? Look at what compounding can do just to a TFSA if you start early enough!

The point is that you just have to create the plan and follow it. Adjust it as circumstances require: there will be frustrating years when financial markets do not cooperate (like 2018), but over longer periods of time, those years will be small blips on the path to financial success. 

History has shown us that for every below-average investing year, there will likely be 5 or 6 above average years (including the financial crisis, in which most balanced portfolios fully recovered after a year and a half or so, depending on the asset allocation strategy). It is important not to be frightened away by a poor investing year, just as it is important not to be drawn to a sales pitch waving a new "shiny object" at you that promises a "get-rich-quick" opportunity.

It is nice to be able to choose your path, whether it be retiring at 31 or 65. A little bit of discipline goes a long way.

And, as always, past returns are no guarantee of future growth, but at High Rock, we work darn hard to provide the best possible risk-adjusted returns for our clients, with a disciplined, low cost (i.e. keeping more of your money in your pocket) approach.