Is Your #1 Financial Frustration 1 of These?

Your Cash Flow Experts

Whether you like it or not, you need money to fund your lifestyle. If you don't earn enough money to fund your lifestyle then you either have to borrow money from somewhere or change your lifestyle to lower your expenses. If you don't want to lower your expenses your only options are to borrow from your available credit (not recommended). The other option is to borrow from your savings until they're depleted (also not recommended).

The last thing you may want to do is drastically changing your lifestyle and cut things out, however it's the first thing you should be doing since it's immediate and doesn't sabatoge your future financial plan by increasing debt and eating up your savings.

Here are 4 of the Biggest Financial Frustrations we hear about from our clients:

1. Cashflow. Basically, if your outflow is greater than your inflow, your upkeep will be your downfall. Cash is King. How much cash flows through your hands each month? Coming in and going out. It's important to speed up the process of how much comes in and slow down the exit process. 

2. Unwise Debt. This is consumer debt such as credit cards, car loans, camper loans, line of credit debt that doesn't have investments attached to it (so you can write off the interest). Paying interest on depreciating assets is not wise. Everytime I go to a teller they try to sign me up for more potential debt. That luxury car, boat and motorcycle sitting in the garage unused. We talk with couples who have barely any RRSPs but are spending tons of money to service debt on such items. (See our Blog on 4 Ways to Ensure You'll Retire Poor)

3. Overwhelmed. We see this all of the time. People who do not know how much the family income really is or how much they owe or how much they spend. There have investments scattered around town that they're paying annual fees on but no real advisor. They have bank acounts they did not even know existed but never with any significant savings in them. There's a real uneasy feeling, there's stress, there's marital conflict and there's a lot of fear.

4. No Plan. They have no agreed upon budget or Financial Plan with set targets of where they want to go. No plan for consolidating, reducing and eliminating debt. No plan for increasing income and reducing expenses. No Plan but Plenty of Naive Optimism for their future. Everything will be ok...they're Living in LaLa Land where life is just Grand". We need to run our family money like a business enterprise with a 6 month, 1, 3, 5 & 10 year plan. 

The good news is that with some tweaking and minor adjustments you can deal with the major financial frustrations, increase cashflow and sleep better at night having a newfound peace of mind. Families that have a Financial Advisor and a proper financial plan are more likely to Achieve Financial Freedom Sooner and have a more stress-free journey along the way.

Upcoming Workshops on Retirement Income - More Information

Your Retirement Income Specialists

Willis and Nancy Langford

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If you are nearing retirement, newly retired, or well into that stage of life and need some honest, reliable financial advice and tax planning services, I highly recommend Willis and Nancy Langford at Langford Financial. I have been working with them since the fall of 2020 and am really happy I made the switch.

I needed much better advice than I was getting from my new bank rep as I was actively preparing for retirement. I found Langford Financial online and booked a review meeting. I was happy that I was sent a complete list of all the information that would be needed prior to my initial meeting so I arrived prepared.

From that initial meeting, I decided to have Willis prepare a retirement plan for me. After we reviewed everything he had prepared, I felt much more confident in what was to come financially during retirement and how I could manage it. That's when I decided to transfer my investment portfolio from my bank to Langford Financial so they could manage it with and for me. I felt they really had my best interests at heart.

It was a pleasant surprise that their approach combined both income planning for retirement and tax planning for both the immediate future and well into retirement. This has proven to be very helpful as it has ended up saving me a lot of money (a lot!) by using credits that had been missed by the company I previously used to prepare my taxes.

I really like working with Willis and Nancy. They are very quick to answer any questions I have and can accommodate virtual or in-person meetings based on what is needed. They also produce a regular newsletter that I really enjoy. It has lots of tips in it and some very good in-depth information that helps me make better decisions---or at least ask better questions!

Moving to Langford Financial was a great decision for me. It has lead to better financial planning and decision-making and much greater peace of mind for me at this time of life.
Sharon Stroick
Full Service Client Since 2020

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