A few years ago, my optometrist warned me that once I hit my mid-40’s, I would need to start monitoring my eyesight to see if I need reading glasses.
Sure enough, at my last eye appointment, they tested my eyes and showed me how my vision would improve with even slight magnification for reading up close.
When I got my first pair of custom prescription reading glasses a few weeks ago, it blew me away how easily I could read even the smallest font on the test page.
I wasn’t always diligent at getting regular overall health checkups, but once I turned 40 I was told it shouldn’t be optional anymore, so I’ve been pretty good since then.
Nobody loves tests, but they can help diagnose issues before they become serious.
A stress test helps doctors collect information about how your heart works while you are active.
If the test shows some kind of irregularity, your doctor will develop a treatment plan consisting of medications, surgeries, exercise, diet, and additional testing.
Your heart, however, is not the only thing that needs a stress test.
So does your MONEY.
Have you had your money stress-tested?
Bob and Amy chose to have a stress test done on their money and financial plan. They were shocked by the results of their stress test.
- They were unaware their annual RRIF Minimum Withdrawals were being taxed at the highest income tax rate.
- They would lose $1 million to taxes on their RRIFs when Bob died. They were told by their present advisors that they didn’t need to worry about taxes on second death.
- Amy, as the second wife, was only going to receive half of the assets.
- The remainder went to the kids in a way that put them in a battle with Amy.
You can’t create a solution until you know ALL the problems. 
Imagine going to a doctor who wrote you a prescription without taking any tests.
It happens sometimes with money. Advisors may recommend “solutions” without fully testing your money.
Once Bob and Amy were clear about the results they wanted with their money and the biggest problems they faced, it was easier to design a truly custom lifestyle and legacy plan.
The result? Their lifestyle was protected, Amy was taken care of, and they were able to pass on a significant legacy to their children.
When was the last time you had your money and wealth plan stress tested? Just like me, you might find out that everything looks clearer with a custom-made solution.
If we command our wealth, we shall be rich and free. If our wealth commands us, we are poor indeed.
– Edmund Burke
