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The 3 Step Plan to Build Wealth

What is The Plan?

 

Save 10% (or more) of everything you earn and invest it for long term growth. If you can follow this one simple guideline, one day you will likely be very wealthy.

 

In this section we shift from theory to practice. We have broken The Plan into 3 easy steps for you to follow:

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  • Step 1: Pick a financial institution to partner with

    • Open a bank account

  • Step 2: Open a self-directed investing account

  • Step 3: Invest in broad based ETF/index funds

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It will take some time to work your way through each of the steps. Be patient. It is important to do things in a thoughtful manner. Remember, you are building out your financial infrastructure for the coming decades. 

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“Knowledge is not power. Knowledge is only potential power. Action is power.” Tony Robbins

A Waiter Serving a Drink
What to do?   Below we describe The Plan in 3 easy steps.

Step 1: Pick a financial institution 

you want to partner with

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Once you have done this:

  • Open a bank account

  • Open an emergency savings account

Step 2: Open a self-directed investing account

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Decide on account type(s):

Step 3: Invest in broad based

ETFs / index funds

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​Decide on weightings:

  • Stocks - XIC.TO and VOO

  • Bonds - VSC.TO​​

Secure your financial future by getting a little better every day.      Questions? Email us at mymoneyclubcanada@gmail.com

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The material on this web site is not intended to be financial advice. It is intended to educate and entertain.

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