Kyle Erickson

Professionals in an industry are like a bridge from where you are to where you want to go. Trying to get there without one is possible but it’ll typically take a lot more work and a lot more time. Here’s a list of professionals I recommend connecting with to work towards your goals: 1) A Financial Professional - Someone who can work with you to make your money work for you through investing and develop a plan for your future. I recommend finding someone you can bounce ideas o...ff of. 2) An Accountant/ tax professional - Having someone who understands your various financial accounts, tax situation and your career path can save you money come tax time. 3) A Real Estate Agent - Real estate is a huge part of the wealth many people build throughout their lives. Especially somewhere like the Fraser Valley where home prices continue to grow rapidly. Find a real estate professional who can help you find opportunities and guide you through the real estate process. There are many other types of industry professionals. Is there another industry you’d recommend finding someone to work with in?

Financial Term of the Week: Capital Gain A capital gain refers to the profit that comes from an investment. It can be either a paper asset like stocks or a physical investment like real estate. Typically, unless an investment is in a position to be tax sheltered, you will be subject to capital gains tax when you go to sell your investment. There are ways to reduce or avoid taxes when it comes to making money on investments which is why it can be important to work with a professional who understands investments and a tax advisor who knows how to best position you when tax season comes around.

This is your daily reminder to get away every once in a while. Life is busy and sometimes the best way to take a step forward is to reassess where you’re at, enjoy the moment, make memories and then keep moving. We’re a little limited in how far we can travel right now but it has reminded me of how much there is to explore in B.C.

The house always wins. This is a common saying regarding casinos. Take Vegas for example; a highly profitable city that is perfect for throwing your money at something risky and seeing what happens. It’s great if you go home with more than you brought and a bit of a bummer if you leave with less. Personal finances don’t work this way. There’s a difference between managing risk and just throwing money away when investing for your future. The question you should be asking yo...urself is; do I want to have the house working for me or against me? Having people on your side who will work for you to grow your wealth means you are working more effectively towards financial freedom. While you may be able to gamble your financial future in the short term it would be nothing short of a miracle for you to pull this off successfully over the long term. Don’t leave your finances to chance. It may not be as exciting as the flashing lights of a slot machine but consistent investing in quality investments can create true wealth that can change your life and the people around you if you let it. If you would like to have a free investment analysis from myself to see where your finances are headed vs. where they could be going shoot me a message and we can chat.

Snow time like the present to invest for your future Treat yourself to the best gift you can this holiday by working on building your financial future. Message me if you have any questions about the steps to get started! _____________________________________

If there’s one thing buying a new home has taught us, it’s patience. Sometimes things don’t happen as fast as we’d like them to. We were originally making plans to enjoy the farmer’s market and all of the fun events in the area before things were delayed until the fall. Maybe you came into the year with expectations or goals to accomplish and those are now going to take longer to reach. That’s okay! I find a lot of people feel this way about their finances. No one starts out... wanting to live paycheque to paycheque or feel like they’ll never make it. Setbacks are normal and if we can learn to roll with the punches your financial goals, which might seem like huge hurdles to overcome, can absolutely be accomplished. What big financial goals do you have that feel challenging today? Message me to chat about your goals and how I can help you accomplish them! If you feel you might have a financial goal that is out of reach tell me about it and we can work through it together. There is a Chinese proverb that says the best time to plant a tree was 20 years ago. The second best time is now. Don’t wait for a better day in the future to work towards your financial goals. Message me today.

The Power of Tax Savings Whether you work hard for your money or it works hard for you; it make sense to give less of it to taxes. Swipe right to see just how drastic the difference in total value an investment portfolio can have when it is held in an account that is tax sheltered versus one that pays out capital gains tax. Keep in mind that tax savings on stock I nvestments through a tax sheltered savings account like a TFSA or RRSP are not the only tax savings that you... can work towards but are often some of the easiest to take advantage of. Setting up an RRSP has the ability to help you keep more of your hard earned money when it comes to tax season which is not something to take lightly! Whether you should prioritize investing in your TFSA or RRSP will vary so shoot me a message if you are unsure and we can chat about what makes the most sense for you.

Research done byDalbar Inc.,a company which studies investor behavior and analyzes investor market returns, consistently show that the average DIY investor earns below-average returns. For the twenty years ending 12/31/2015, the S&P 500 Index averaged 9.85% a year whereas the average equity fund investor earned a market return of only 5.19%. Here are two major reasons the average DIY investor under performs the market: -Buying High- Study after study shows that when thes...tock marketgoes up, investors put more money in it. And when it goes down, they pull money out. Imagine running to the mall when prices go up and then returning the things you bought when they are on sale - but you are returning itto a store that will only give you the sale price back. -Overreacting- The problem is that human reaction, to good news or bad news, is to overreact. This emotional reaction causes illogical investment decisions. This tendency to overreact can become even greater during times of personal uncertainty; near retirement, for example, or when the economy is bad. There is an entire field of study which researches this tendency to make illogical financial decisions called behavioural finance. So what can you do to avoid the fate of the average investor? One of the best things you can do to protect yourself from your own natural tendency to make emotional decisionsis to seekprofessional help and hirean advisor. We serve as a barrier between your money and your emotions. Not only does an advisor work to make sure that you get a great return on your investment but setting up a long term financial plan and being there to answer your financial questions provide for a level of service that can be incredibly valuable down the road. Message me to chat about investments and putting together a financial plan! This content was based around an article by Dana Anspach from The Balance.

With the election coming up I have had a lot of people ask me what I think is going to happen and if they should wait or jump in now. I put together a Twitter thread on some outlooks for the upcoming US election. There is never a bad time to get into the overall market. This election may cause some fluctuations in the short term however consistent investing over the long term leads to incredible results. In a few years this will be a small blip on the charts. Message me to chat about what things look like with your current investments! From low risk to high risk and everything in between I am here to help make sure you make your money work for you.

To give, not just to get. When you think about your finances, do you think about giving? I’ve talked about giving on here before because I STRONGLY believe it should be a regular part of personal financial planning. My beliefs here stem from my faith and giving back to God what he so graciously gave to me, that said, I feel confident that giving is a powerful habit no matter who you are or what you believe. ... First step - recognizing that you can’t take your money with you to the grave. There’s plenty of room to replace some of the luxuries of western life with a gift to someone or an organization in need. This requires discipline and the more disciplined you are with your finances, the better off you’ll be over the long haul. My wife and I tithe/give to our church, but desire to grow that area into some of the overseas humanitarian work we have personally built connections to. If you need some ideas for where to give or you have some ideas send me a DM or share yours in the comments!

Start by doing the thing you fear the most, anything that follows will be a breeze in comparison. I was talking to someone recently who was telling me about their zip-lining experience. They mentioned that it was nerve-wracking until they reached the point where it wouldn’t go any faster or be any higher off the ground than the section they had just come from. After that any smaller zip line or one that didn’t go as fast became less intimidating. I found this interesting beca...use it can easily be compared to our comfort zones. The fear of the unknown or of something that is bigger than we have experienced before can keep us from taking that leap. We love living in our little bubble of comfort and often don’t want to push ourselves further, but when we do-opportunities can come up that were completely unexpected. So this is my inspirational post to take a leap and do something you are unsure of. Instead of thinking worst-case scenario; start thinking of what or WHO comes after the struggle, no matter how big. Also, I know none of this has anything to do with the photo but sometimes you just need to post a photo in hopes that people will also read the caption. Plus I like my wife.