The Headlines And Your Personal Financial Goals

25 Oct

How important are headlines to achieving your personal financial goals?

bad news photo

For most of 2019, we have seen and read numerous headlines about events shaping our current world – everything from protests in Hong Kong, Brexit and fires in the Amazon, not to mention Canadian and American politicians and upcoming elections.

How much attention should you give to the headlines when it comes to achieving your personal financial goals?

How important are headlines to achieving your personal financial goals?
Throughout 2019, we have been seeing and reading innumerable headlines about events shaping our current world – everything from protests in Hong Kong, Brexit and fires in the Amazon, not to mention Canadian and American politicians and upcoming elections.

Should you pay attention to the headlines when it comes to achieving your personal financial goals?
First of all, remember that headlines use shock and fear to get our attention. Of course, changes in the world do affect all of us. However, if you are working with a Financial Advisor and you have a plan for yourself and your family to achieve your personal financial objectives, the answer is headlines are a distraction. Don’t go changing the plan by reacting to them.
Let me give you some examples of how building wealth depends more on your goals and time horizon than on media click bait.

  1. To accumulate wealth for your children’s college or university education ten or twelve years away, we look for investments that should grow at a certain percentage amount over those years. However, as the kids approach the end of their high school years, we change the investments to protect those gains so that there is enough cash to pay for tuition, books and housing costs.
  2. In a similar way, you grow your RRSPs and TFSAs for many years in anticipation of having sufficient funds put aside to live a comfortable retirement. As an Advisor I provide counsel on how much to contribute to these plans, what investments to use for growth and what you will need for your desired lifestyle. We aim to get you there by a certain retirement date. Once you approach that date, your time horizon changes and now we will structure the income so that it is both tax-efficient and secure in the event of a market fall.

Some good advice: Whenever headlines try to distract you, reach out to your Financial Advisor and check if you are still on track to reach your goals or need to make any changes. Don’t let headlines divert you from what really matters.

Whether for education needs, upcoming retirement or realizing any other significant personal financial goal, contact me at mheenan@assante.com or 905-707-5220 for a consultation on your investment success independent of headlines.

Whenever headlines try to distract you, reach out to your Financial Advisor and check if you are still on track to reach your goals or need to make any changes.  Don’t let headlines divert you from what really matters.

Contact me at mheenan@assante.com or 905-707-5220 for a consultation on your investment success independent of headlines.


I will be doing some webinars this fall on financial literacy, investing for success and retirement planning. Register here for the next one on November 13 at 7:00 p.m.