KEY015 - Why "One" Is The Worst Number To Financial Planning and Wealth Creation.

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KEY015 - Why "One" Is The Worst Number To Financial Planning and Wealth Creation. by Mind Map: KEY015 - Why "One" Is The Worst Number To Financial Planning and Wealth Creation.

1. 07 Feature Segment

1.1. Think of all the great First's in your life

1.1.1. First step

1.1.2. First grade

1.1.3. First goal

1.1.4. First award

1.1.5. First girlfriend

1.1.6. First boyfriend

1.1.7. First car

1.1.8. Your first time

1.1.9. First job

1.1.10. First child

1.1.11. First house

1.1.12. First family vacation

1.1.13. First grandchild

1.1.14. First trip around the world

1.1.15. Firsts are a great thing.

1.2. But, the number one, well this is different.

1.2.1. As a finanical planner, I can't stand the number one.

1.2.1.1. Tell me, do you think any of these are good:

1.2.1.1.1. One income stream

1.2.1.1.2. One investment

1.2.1.1.3. One goal

1.2.1.2. Look at the number one as a business owner:

1.2.1.2.1. One key staff person

1.2.1.2.2. One key account

1.2.1.2.3. One product line

1.2.1.2.4. One sales process

1.2.1.2.5. One promotional medium

1.2.1.2.6. Explain - expand

1.2.1.3. One is just not a good number.

1.2.2. When it comes to financial planning, getting away from the number one is a good thing.

1.2.2.1. Retirement Planning

1.2.2.1.1. Imagine if you had one...

1.2.2.2. Investment Planning

1.2.2.2.1. Imagine if you had one...

1.2.2.3. Education Planning

1.2.2.3.1. Imagine if you had one...

1.2.2.4. Insurance Planning

1.2.2.4.1. Imagine if you had one...

1.2.2.5. Estate Planning

1.2.2.5.1. You can't take it with you.

1.2.2.5.2. As a result, there is one day of reckoning.

1.2.2.5.3. In Canada, when the second of you and your spouse die, CRA assumes you liquidated all of your worldly assets just before you died - and taxes you accordingly.

1.2.2.5.4. Take action

1.2.3. So, get away from the number one.

1.2.3.1. You'll be better for it.

1.2.3.1.1. It will reduce your risk.

1.2.3.1.2. It will increase your confidence.

1.2.3.1.3. It will provide you with peace of mind.

1.2.3.1.4. And isn't that what you are looking for now - and as you transition into retirement and beyond???

2. 10 Bonus Segment

2.1. I've talked a lot in past episodes about how important it is to ensure you have your health along with your wealth.

2.2. But, the problem is that I can't remember any definitive guide to what constitutes a proper lifestyle - when it comes to nutrition and activity.

2.3. I am very aware that the Canada Food Guide falls short of what constitutes proper nutrition - there are too many reports proving that the high carb, low fat diet is actually causing a lot of problems with obesity, diabetes and heart issues.

2.4. And, I'm not prepared to go out and sign myself up at a gym, pay some trainer to punish me so I can leave for work (usually with a headache) after pushing myself well beyond what I really deep down believe is right for me.

2.5. Well, here's today's tip.

2.5.1. Check out www.marksdailyapple.com.

2.5.2. This ex-Olympic triathlete and marathoner has done some extensive research into what it takes to allow people to look good and play hard - without the exhaustive time commitment that so many other programs and courses demand.

2.5.3. He has found that our caveman ancestors were actually healthier and fitter than we are today - because of how they lived their day to day lives.

2.5.4. And, because of their simple, often times very tasty diet.

2.5.5. And, his fitness philosophy makes sense from a lifestyle design standpoint.

2.5.5.1. You see, I don't know about you but I'm not trying to look like a world class athlete, I'm trying to look fit.

2.5.5.2. I'm not getting paid to punish my body, I just want to have fun.

2.5.5.3. All of this and more are revealed through his free ebook which you can download from his website.

2.5.5.4. In the book, you will find his proof that conventional wisdom is getting in the way of good health.

2.5.5.4.1. And it's not what he thinks, it's what he knows - from some of the most credible research in the marketplace.

2.6. So, check it out. When health and fitness is more about fun and active lifestyle, I'm all for it. It dovetails nicely with financial planning.

3. 01 Intro

3.1. This is The Key To Retirement Episode 15.

4. 04 In This Edition

4.1. In this edition of The Key To Retirement, I'm going to talk to you today about the number 1 and how this number is the worst number when it comes to financial planning and wealth creation.

4.2. And, in today's bonus segment, I'm going to share with you a new website that will provide you with some great health and wellness advice - it is amazing to see the results people are getting with this information.

5. 05 What's New?

5.1. Started training for a half-marathon.

5.2. Incorporating some barefoot running into the regime.

5.2.1. Great shoes to allow for this

5.2.1.1. Vibram five finger toe shoes.

5.2.2. Great for building up foot strength.

5.2.2.1. The criticism agains traditional running shoes is that they encourage bad running form and actually weaken the foot.

5.2.2.2. Causing poor balance, agility and can encourage running injuries.

5.2.3. So, after recording this episode, I'm going for a run. A barefoot run. Wish me luck.