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1. Set a Goal. Work with your Manulife Advisor to figure out where you are today financially, where do you need to be and how you can get there.
2. Use Other People's Expertise. Use the wealth of knowledge and experience of experts including your Manulife Advisor, accountant, lawyer or role model in your planning for financial security.
3. Use Other People's Money. Home ownership works with borrowed money and investing can too.*
4. Pay Yourself First. Very few of us will get rich quickly. Start by saving 10% of your gross income every month. Remember: It's not how much you earn that matters, but how much you keep.
5. Invest For The Long Term. True investors are those who concentrate on buying businesses rather than stocks. Their three common goals are to: i) preserve wealth ii) grow wealth at an above-average rate of return iii) minimize the impact of taxes.
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*Consult with your Advisor to see if this strategy is suitable for your individual circumstances. Using borrowed money to finance the purchase of securities involves greater risk than a purchase using cash resources only. If you borrow money to purchase securities, your responsibility to repay the loan and pay interest as required by its terms remains the same even if the value of the securities purchased declines.
