Chisholm has been teaching children in Halton and Peel since 1971. Our professional staff of certified teachers are the primary reason that Chisholm maintains such a large number of loyal clients.The feedback received from parents certainly reflects this. All of our students are taught in a modern 30,000 sq. ft. facility equipped with laptops and Smart Boards. Individualized programs are written for each student to ensure that their individual needs are being met. Call now to find out more. *Chisholm also offers high school credit courses. Chisholm Educational Centre 1484 Cornwall Road, Oakville 905.844.3240 www.chisholmcentre.com Chisholm Tutoring w w w . o a kv ill eb ea ve r.c o m O A KV IL LE B EA V ER Th ur sd ay , N ov em be r 1 1, 2 01 0 2 4 BusinessOakville Beaver For those of you whohave been readingthe Oakville Beaver for several years, you might remember this column, which originally ran from 1992 to 2004. During the time the column has been dormant, a lot has hap- pened. There is exponentially more and better financial information available. The art and skill of financial planning has advanced and that should benefit you, the investor. This weekly column will have one goal. To help individual investors be successful. The first thing to determine is what does financial success mean to you? Success may start with meeting your various financial goals like planning for retirement and managing funds during retirement. Are you planning to assist your children or grandchildren with the financial costs of a post secondary education? What is the best way to do this? Do you want to leave a significant estate, legacy or fund a charitable cause? Ones definition of success is very personal. We will spend time discussing financial pri- orities. Of all the different things that you want to accomplish, which are the most important to you? What are the time frames for those objectives? How does one plan for multiple goals at one time? Most people walk a fine line in their attempt to lead an enjoyable, rewarding current lifestyle and not run out of money later on in life. The perpetual balancing act between spending and saving is the main financial con- cern of many investors. Adding to the complexity of the spend now or save for later dilemma are a couple of trends. Over the last several decades we conservative Canadians, who used to be strong savers have started to spend, in many cases beyond our means. We are now on par with Americans in this regard. And because life expectancy continues to rise, our retirements are lasting far longer than ever before. Therefore we are at far greater risk of outliving our capital. Many say they want to time their finances so they run out of money on the day they take their final breath. Unfortunately that is far from reality. Since no one has a crystal ball which accurately predicts our final day and our investment performance, relying on this strategy will leave you disappointed one way or the other. In reality the timing of the end of your life and running out of capital could be decades apart. Consider the possibility if you died with two decades of spendable cash on hand. Alternatively, what would hap- pen if you ran out of money and then lived for twenty more years? The latter scenario is not a pleasant thought. When we think of financial success and achieving your lifes goals, there is a lot to consider. That is the goal of this column. We need to consider the issues that are most important to us. And that thought process will lead to more questions. Can we do a better job of manag- ing our finances? Are we making seri- ous mistakes when we invest our money? How do we know if we are on track to accomplish our goals? What about this new Tax Free Savings Account? How does it fit in with our other investments? How do we go about selecting an investment advisor? These questions and many more will be discussed in future columns. There is incredibly useful research on investing that has been generated by world-renowned finance experts that suggest the way most of us invest is flawed. These research findings will be discussed. So that, in one short article, is a taste of what to expect from future Dollars and Sense columns. My hope is that you and your fam- ily will benefit from the ideas and opinions that are expressed and you will enjoy the process. Submitted by Peter Watson, MBA, CFP, R.F.P., CIM, FCSI. In 1991 Peter founded Peter Watson Investments in Oakville and now is with Industrial Alliance Securities Inc. Peter can be reached at (905) 842-2100. Dollars & Sense By Peter Watson Column returns to help readers plan for their future D W W K H 4 X H H Q ( O L ] D E H W K % X L O G L Q J ( [ K L E L W L R Q 3 O D F H 7 R U R Q W R 1 R Y H P E H U W R ) U H H O L P L W H G H G L W L R Q V H W R I ) 5 ( ( $ ' 0 , 6 6 , 2 1 S R V W F D U G V D Q G S R V W H U Z K L O H V X S S O L H V O D V W 3 2 6 7 $ * ( 6 7 $ 0 3 6 + 2 : ) 5 , $ 0 3 0 6 $ 7 $ 0 3 0 6 8 1 $ 0 3 0 3 U H V H Q W H G E \ 7 K H & D Q D G L D Q 6 W D P S ' H D O H U V $ V V R F L D W L R Q 6 7 $ 0 3 6 & 2 9 ( 5 6 D Q G 3 2 6 7 & $ 5 ' 6