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Could a “Money Coach” help you?

I was watching PGA Golf recently and it became apparent that Tiger Wood has every other golfer in the world scrambling to catch him.

After Tiger, the PGA money leader in 2002 was Vijay Singh with $3.8 million in annual earnings. His average score was 69.47 strokes per round.

Scott Verplank averaged one stroke more per round and his earnings were $1.2 million.

By being only one stroke better, on average, Singh earned more than three times Verplank's earnings!

Would a coach or a better coach help Verplank? Probably. A coach could assess weaknesses and design strategies that were in keeping with Verplank's physical and mental limitations and work with him as a "team" member.

Could a "Money Coach" help you with your financial plans? Would it help to have someone evaluate your current plan (or build one if none exists) and design strategies for greater success? Do you feel that having someone to talk to and one, who understands your goals, would be of value?

Imagine if a Money Coach could make a 1% difference in your financial game! Let's take a closer look at the impact this would have on your financial future. Assuming you are 40 years old and have $30,000 in your RRSP to date. Let's assume you are in a position to save $10,000/annum. What difference would a 1% advantage make by age 65?

 

Without a Coach*
$795,313

* Assumes a 7% rate of return

With a Coach
$936,514

 

That amounts to over $140,000 more RRSP capital if you could earn 1% more per year!

If you would like to look closer at all the benefits a "Money Coach" can bring to your goals, please give us a call today, for a "no obligations" meeting.

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