Financial Readiness

We have a major #LifeReady moment we are starting to prepare for. It’s an idea of taking our kids on a world-wide trip. We want to teach them to be global citizens, help them understand and embrace all cultures and learn on the road.

The comforter is warm and cozy and as I wake up to the sweet sounds of the Cowboy Junkies I look over to see the angel faces of both my children snuggled up beside me.

My children.

There is so much love and so much responsibility that go with those words. I often wonder how I possibly have kids when at times I still feel like a kid myself. I remember growing up thinking how very much my parents had it together in how they planned for everything. Planning for a trip, planning house moves, planning for their retirement and for our future. My dad especially focused diligently on maxing out his investment opportunities every year to see it through that they were covered as they got older. As they are finally in that stage of life, it’s paying off. Large. They don’t have to sacrifice the world to sustain their living. He had set it up beautifully so that they had a quality life full of travel and opportunity when they got to this life stage.

Dreaming gave us this view of the Indian Ocean #LifeReady

It makes me nervous. Coming from a different generation and philosophy, we don’t concentrate nearly as much as they do on financial matters. We are in far more debt. Our house is more expensive. The impact of interest rates from credit cards don’t seem to create the same concern that I saw with my folks. We are doing ok for saving for retirement but by no means are we maxing out each year. (And we have NO end goal as to when that is).

We are doing well on RESP contributions and because of Autism in our world, we are also adding contributions to RDSP’s to ensure the care of our child when he’s older. But we also hold the philosophies of “Come Before Winter” and “Tomorrow can easily become never”, which continually drives us to travel, seek experiences and have adventures that will create amazing memories for us and the kids more so than feeling financially safe as we get older.

And this experience in Stonetown, Zanzibar #lifeReady

We have a major #LifeReady moment we are starting to prepare for. It’s an idea of taking our kids on a world-wide trip. We want to teach them to be global citizens, help them understand and embrace all cultures and learn on the road. I am a dreamer, a live life to the fullest kind of gal whereas my husband is the responsible, collected one of the two of us. The only way we can get to this moment is to bring down our debt and meet at an agreed upon a level of financial preparedness and risk for both of us to be comfortable to go.

Being #LifeReady took us to the top of Mt. Kilimanjaro

And brought us this close to moments that took our breath away #LifeReady

We can't wait to explore more of what the world has to offer #LifeReady — We can’t wait to explore more of what the world has to offer #LifeReady

This program couldn’t have come at a better time in taking stock of where we are.

We want to explore so many more beautiful sunsets

I took the Manulife Readiness Quiz and discovered I am in the 45% of Canadians that feel we are on our way to being financially ready but we still have a ways to go.

Manulife Life Ready Quiz — My #LifeReady Quiz Results

Think about taking the Manulife Readiness Quiz to see how financially #LifeReady you are.

AND…Be sure to join us October 28 at 9pm EST for our @Manulife #LifeReady Twitter Party to talk financial preparedness and see what you dream of being #LifeReady for. Must RSVP to win over $2500 in Cash prizes!

RSVP BELOW

My dad is a smart egg. A very smart egg.

When I was 15 he very smartly gave me one of the best gifts I have ever received in my life.

He started an RRSP for me.

Amidst the eye rolls and heavy sighs, he would love to talk about RRSP’s. For him, its like watching the Weather Channel or calling over to our relatives in Scotland, it gives him great joy. He is proud of what he has saved over time (& so he should be) after growing up in a time where there was hardly any money around to have for the future.

I was a total teenager when he told me he had set this up.

Little did I know how much of an impact early savings would make

I didn’t realize the impact what he was doing for me would have an on my life. I didn’t realize that his conversations about RRSP’s would leave such a mark with me. All the discussions around contributing would be a reminder every year to do something. His starting the contributions then helps provide me some breathing space now. The topic that used to make my eyes get glossy and my attitude full of “OK I GOT IT DAD!!!”. Now I realize, I don’t “got it” and its something crucial to start tuning into for the future.

We are graced with two little ones. Children that will rely on us to help set THEM up as they grow up. To help get them to university and to be prepared for what comes next. I find it hard to be responsible for someone else when I barely feel responsible enough for myself.

You gotta admit..when they were this small you had no idea what was to come.

Our Challenge:

We don’t have a hot clue in hell what we actually NEED to be prepared for the FUTURE.

Do you?

I feel like as much as I know its important to be ready, we’re not. Our financial literacy is reasonable but not high. Our goals in terms of a retirement age hanging out over in left field because we simply have no idea when that will be or when it should be.

Here’s where we are at now:

We know its the right thing to do to put aside RRSP’s. So we do, but we have no idea what the right amount of contributions should go in every year.
We set-up RESP’s as soon as we got SIN numbers for the kids with payments that kick-in the government match program. We sincerely hope we will be on track. Those expected university costs in the future give me heart palpitations every time I read them.
We are not sure if our child with Autism will have the capacity to have a career or job so we have started an RDSP for him to protect him. The challenge is that its there for him when he is 60. I can’t help shaking my head that if one can’t get gainful employment as an adult, waiting till 60 won’t be the issue. But I digress.

We are feeling somewhat good about it all but not good enough.

When @Manulife’s #ManulifeReady program came about, at first I was taken aback by the series of commercials they were airing. They had an ominous feeling to THE RIDE, THE MEETING, THE CALL. Everyone I talked to felt uncomfortable with how serious or depressing they were.

But I get it.

Things can change at the drop of a hat. You just DON’T know.

@Manulife is asking you to consider those when you think about planning. About opening doors and which ones are important for you?

For us, we look forward to A RIDE (maybe at Disney?), A MEETING (that will lead to weddings in the future) or A CALL (…cause seeing the FINAL FOUR live is SOOO on our list).

Manulife is doing 2 cool events for this program.

The first:

A CHANCE TO WIN $2500 by simply posting a photo of a door that means something to you.

To join the conversation:

Post a photo on Facebook, Twitter or Instagram of a physical door in your past, present and/or future and tell Manulife why it’s important for you.
Use the hashtag #ManulifeReady
Post away.

The Second:

I am pumped to be hosting the #ManulifeReady Twitter Party at 9PM EST on Tuesday, March 24th with @Shasherslife @Manulife because I AM SERIOUSLY looking forward to better getting a grasp on what we need to do to be financially ready. And although I’m not eligible YOU ARE..& could win CASH PRIZES (Over $3000!!) to help get you going.

Are You Ready?

My #LifeReady Moment means the world

I’m Not Ready. Are you? #ManulifeReady