1. Tim Weichel, MBA Tim Weichel & Associates 416-230-2703 tim@timweichel.ca www.retireonyourterms.ca

2. Financial Success Otherwise successful people often neglect their personal finances 3. Why? They lack one or more pieces of the financial success KIT Knowledge Interest Time 4. Agenda The 10 biggest mistakes that people make with their personal finances 10 Wealth Success Strategies 5. Mistake #1 Starting without a life plan If you dont know where you are going, any road will take you there - Lewis Carroll 6. Mistake #2 Not having a realistic retirement plan Planning for your retirement when you are retired! 7. Mistake #3 Living beyond your means Taking on too much debt Not paying yourself first (saving) Spending money frivolously 8. Mistake #4 Not taking full advantage of Government Programs to defer or avoid taxes RRSP, RESP, TFSA, RRIF, RDSP, DPSP Home buyers plan, Life long learning plan 9. Mistake #5 Proceeding with unrealistic expectations How much money will I need? What rate of return am I likely to achieve? What is the downside risk? 10. Mistake #6 Trying to beat the market I can time the market Its different this time This stock is going to $100! 11. Mistake #7 Failure to do tax planning Not understanding the tax consequences of different types of investments 12. Mistake #8 Not having an estate plan Not preparing for the unexpected Not having an up-to-date will and powers of attorney Not structuring your affairs to avoid the probate process, taxes, and to pay for final expenses 13. Mistake #9 Listening to the wrong people You Accountant Financial Advisor Personal Partner Lawyer Insurance Professional 14. Mistake #10 Not having a Financial Plan 15. 10 Wealth Success Strategies 16. 1. Live within your means 17. 2. Pay yourself first 18. 3. Reduce your most expensive debts as quickly as you can 19. 4. Know how much you will need to retire and have a plan to get there 20. 5. Prepare for unexpected life events 21. 6. Take full advantage of Government tax breaks 22. 7. Have an Estate Plan 23. 8. Understand and avoid market risk My top 3 favourite quotes from Warren Buffett: 1. Rule No.1: Never lose money. Rule No.2: Never forget rule No.1. 2. Risk comes from not knowing what you're doing. 3. If past history was all there was to the game, the richest people would be librarians 24. 9. Get financial advice from an advisor who is knowledgeable and objective 25. 10. Start Today 26. Tim Weichel & Associates Your Financial Plan Your financial vision Your investments Projections What if scenarios Implementation Management and monitoring Progress reviews quarterly, semi-annually or annually Retirement Planning Estate Planning Tax Planning Education Planning Risk Management 27. Thank You Tim Weichel, MBA Financial Consultant to Individuals and Families Tim Weichel & Associates 416-230-2703 tim@timweichel.ca www.retireonyourterms.ca