1-Minute Video:

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Transcript: Too many Canadians want financial instant gratification and succumb to FOMO… the fear of missing out. Others are obsessed with keeping up with the Joneses by spending money to impress people they don’t even like. That’s why most Canadians lack the discipline required to be become a millionaire. The first secret to achieving financial success is deferred gratification, because it’s critical to spend less than you make. The second, is that most Canadians don’t save enough – only an average of 7.81% of their income over the past 80 years. The third is that they fail to leverage the power of time. For example, if you save $1,500 per month, in the first 10 years, this will become $195,019.37 based on an 8% interest rate. Continue to save that same $1,500 a month for 20 years and it becomes $423,760.95. In 40 years, that initial $1,500 would become $1,006,743… you’re a millionaire! To find out more about building wealth, call us today.