Let me start this article by stating I am 58 years old, and I am in the best shape of my life!
Many of you are aware of my health struggles; I have had bladder cancer and diabetes. My latest lab tests suggest I may have achieved remission on diabetes! Also, this past month I have completed my immunotherapy for cancer and my test scope shows no signs of return.
I will be honest; my health scares were exactly that – scares that got me thinking about my own future. As early as December 2020 I had begun interviewing a person to bring into my practice with the idea of succession.
I feel I have a great deal to offer the financial planning world working with you. I was scared at that time. I really did not know the repercussions of a cancer diagnosis. I was only focused on my own self, but I am defined by my professional practice it is what I do.
Because I was worried about myself, I was worried how my clients would be cared for if I was unable to continue as a financial advisor...
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What’s the secret to building and maintaining wealth? For the rich, it’s not just about earning a high income–it’s about the habits they cultivate. These strategies don’t just help them grow their wealth; they also ensure it lasts for generations. Start today and take more control of your financial future.
Lesson 1: Live Below Your Means
One of the most important habits of the wealthy is living below their means. Take Warren Buffett as an example. Despite being a billionaire, he refuses to spend more than $15,000 on a car, reasoning that the money saved can earn far greater returns when invested. To him, a car is simply a way to get from point A to point B.
Buffett also lives in the same modest Omaha, Nebraska, home he purchased in 1958 for $31,500. Rather than upgrading to a mansion, he chose...
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How NOT to Plan Your Estate: A Cautionary Tale
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Let’s face it–your death will create challenges for your loved ones. These challenges will fall into three main categories: emotional, legal, and financial. The good news? You have the power to minimize these issues. The bad news? If you want to make things worse, you can follow the "how not to" approach outlined below.
Of course, this is tongue-in-cheek, but let’s explore what not to do when planning your estate.
Emotional Turmoil: A Recipe for Chaos
Want to cause extra emotional turmoil after your death? It’s easy! Start by leaving your affairs in total disarray. Don’t bother making a will, or better yet, hide it so no one can find it. Add a touch of intrigue by opening secret bank accounts and investments that no one knows about...
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Nothing great was ever achieved without enthusiasm.
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Ralph Waldo Emerson
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Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. Mutual funds are not guaranteed, their values change frequently and past performance may not be repeated. Please read the prospectus of the mutual funds in which you invest. The information in this email newsletter is general information only and is not intended to constitute specific legal, accounting, financial or tax advice for any individual. 
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Phil Hauser - Sterling Mutuals
815 Berkshire Drive, London, ON N6J 3S6
Ph: (519) 668-0338
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