A recent Financial Planning Standards Council (www.fpsc.ca) study explored the connection between Canadians’ financial planning activities and their confidence in meeting a variety of life goals, including travel. The study showed that 66 per cent of people who engage in comprehensive financial planning feel closer to their goal of taking the vacation they want every year, as compared with only 31 per cent of people without a financial plan.
“A myth about financial planning is that it’s all about saving for tomorrow and sacrificing your wants of today,” says Cary List, president and CEO of FPSC. “In fact, financial planning is about balancing the variety of your wants and needs throughout your life.”
Expert Tip: “Financial planning gives you a better chance of getting to where you want to go,” says Sucheta Rajagopal, a certified financial planner with Hampton Securities Limited. “If travel is important to you, include this goal in your financial plan. Too many goals go unfulfilled because people didn’t plan at all or didn’t factor it in early enough.”
Find a certified financial planner professional in your area online at www.fpsc.ca.