Matthew Lekushoff |


When most people think of financial advisors or wealth managers, they usually only consider the investing side -----  likely because most of the financial press focuses on the markets and individual securities. As important as this is, the planning part of the equation is really the critical part.

Simply put, the purpose of financial planning is to enable clients to achieve their goals in the most efficient manner possible:
  • Our clients come up with goals important to them and their family 
  • We develop optimal strategies and systems to achieve those goals
Up until a few years ago, I only considered two types of goals:

1) The Bling: Things I want to have (money, property, prestige, security)
2) The Bucket List: Things I want to do (enjoy fancy restaurants, take trips, have experiences)

These are great starting points, but I'd like to add two other categories of goals to the list (though there are probably more):

3) The Internal: Who I want to be (health, wealthy, and wise; a happier person -----  and perhaps items listed in Categories 1 and 2 are a way to achieve this; a humanitarian, athlete, or writer; a better partner, friend, parent, child, or neighbour)
4) The External: What I want to create (a family, charity, blog, art, music, literature)

This is not the definitive list, but if you've only thought about goals like I used to -----exclusively of the "having" and "doing" nature -----  try opening yourself up to the "being" and "creating" sides of Options 3 and 4. Expanding on the types of goals you set may trigger long-forgotten desires (such as wanting to be a great cook), which will then allow your advisor to factor them into your financial plan (such as going to Italy to take a culinary course).

When we look back on our lives, I do believe those who have balanced their goals across the four categories above, and others, will likely be more content with the life they lived.


For the first time in almost seven years, Canada hiked its benchmark interest rates from 0.5% to 0.75% last week, strengthening the Canadian dollar. Another increase is expected later this year. As inflation is fairly low, there are no indications interest rates will rise to historic norms any time soon, but as we all know...expect the unexpected.

Global markets have stabilized or slightly increased over the last couple of weeks. It's welcome news, as a continuation of recent declines may have led to the likelihood of a bigger sell-off. Even more welcome news: oil prices have increased over the last week or so. Energy has been one of the worst performers this year, and is a substantial part of the Canadian economy and stock market.


Lee Kuan Yew: The Grandmaster's Insights by Allison, Blackwill & Wyne: As Singapore's first prime minister,  Lee Kuan Yew is largely credited with transitioning the country from having one of the world's lower GDP per capitas ($500/yr) to one of the richest in the world. Today, its 5,600,000 citizens earn a staggering average of $90,000 per year! This book is essentially a series of Q&As with the recently deceased leader on subjects including U.S./China relations, globalization, and his thought processes. I found some sections less interesting than others, but the ones I liked were chalk full of wisdom that was refreshingly blunt and honest.
Why Perseverance Crushes Talent When it Comes to Success  by Brian Clark: A good reminder that hard work usually outperforms talent.
Active Listening   by Farnam Street: I almost didn't read this article as I felt it would be another article on how to be a good listener. It is-----  but it's also one of the best ones on the topic I've read.
The Knowledge Project Podcast: Rory Sutherland on the Psychology of Advertising Complex Evolved Systems, Reading, Decision Making Though I largely regard most advertising in a negative light, this podcast caused me to consider seeing it as a way of adding value to an experience or product, instead. A word of caution: Rory Sutherland is insightful and brilliant, but his language can be somewhat salty. For the most part though, I found his charming English accent and eloquence more than made up for it ;)
  • A big congrats to Roger Federer who took his record eighth title, winning the Wimbledon Men's Finals Sunday. Federer has won 19 Grand Slam singles titles, the most in history for a male tennis player.
  • And because we can always use more videos of baby elephants chasing birds in our you go!


Matthew Lekushoff

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