goals (10)

Setting Goals for 2023

Came across this article in a few email newsletters that I receive from our mortgage associates. It's a good primer for the topic. Be sure and check out the comment section for future resource additions. ~ Tim


2023 Financial Resolutions

After the whirlwind economic year we have had, making your finances work for you is already top of mind for most Canadians as we head into 2023. Here are some ideas to make your finances work for YOU in the New Year:

Purge Expenses
One of the best goals you can have for the New Year is cutting out all those things that didn’t work the previous year. While we are not referring to your water or electricity bills, there are still many ways you can cut down on costs. For instance, have you recently looked at your phone plan? Consider decreasing services or comparing costs to get a cheaper plan with the same functionality. Are you someone that buys coffee each morning or goes out for lunch once a week? Are you actually regularly watching all those streaming services? Consider where and how you spend your money to determine areas to reduce costs!

Make a List of Goals
Once you have made your budget and reviewed your existing expenses for any opportunities to reduce costs, the next step is to make a list of goals! For some people this will include paying off that credit card or loan, but for others it could be saving up for a family holiday you want to take in the next 5 years. Whatever your goals are, be clear about them and make a resolution to achieve them!

Consolidate Your Debt
Are you dealing with multiple debt sources? From a car loan to a credit card bill, having multiple payments each month can add up and quickly become more than you can manage. If you are struggling with lofty bills and hefty interest rates on your credit cards or other bills, consider consolidating your debt into your mortgage for a single, monthly payment - typically at a lower interest rate!


Pay Fast, Buy Slow
Some great advice when it comes to managing your finances is to pay fast and buy slow! If you pay your bills as soon as they come in, versus waiting, you will have a better idea of where you stand financially at any given moment. You will also avoid any late fees or compounding charges. In coordination with this, you will also want to start buying slower and working to reduce any impulse spending.

Increase Your Income
While it may not seem possible, it can't hurt to look for ways to increase your income in the New Year. Look for promotion opportunities at work, discuss a potential raise or even consider a new job to ensure that you are financially covered!


KYS - Know Your Self

KYC - Know Your Client

KYP - Know Your Product


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Calculator Tools - Check The Math

PEAK Disclosure - Click to Check




Many of our Portfolio Partners have calculators on their website. We have some on ours as well that you can check out at http://www.timothyross.com , click on Advisor Tools

“The difference between the poet and the mathematician is that the poet tries to get his head into the heavens while the mathematician tries to get the heavens into his head.” ― G.K. Chesterton



RRSP Calculator
Calculate how much you will need to save between now and the day you retire.

RRSP Illustrator
Get a personalized assessment of the tax benefits you gain by investing in your RRSP.

RRSP Loan Planner
Find out how an RRSP loan could help boost your income at retirement.

RIF/LIF Illustrator
Find out how much income your Registered Savings plan will generate in retirement.

Registered/Non-Registered Comparison
Weigh the benefits of registered versus non-registered growth.


Advantage of Early Investing
Learn the importance of investing early and on a regular basis.

Investment & Regular Deposit
See how your one time investment or regular deposit program will grow over the years.

Investment & Regular Withdrawal
Calculate the regular income stream generated by your non-registered investment.


RESP Calculator
Discover how much your money can grow in an RESP and how much you will need to save for your children's education.


Mortgage Qualifier
Use this calculator to find out how much you could qualify for and what your monthly payments would be.

Mortgage and Loan Amortization Scheduler
This easy to use tool provides a detailed payment schedule for your mortgage or loan.

Debt Consolidator
This calculator can show you how much you might save by consolidating your debt at a lower interest rate.


Household Cash Flow Statement
The first step in building a wise financial plan is determining your family's income and expenses.

Net Worth Statement
Complete your personal financial picture by pinpointing your personal assets and liabilities. 


BUYING A HOUSE or PROPERTY, this is a pretty good calculator, it covers a lot of math that will become part of the processing of getting a home or rental. 



“Solving a problem for which you know there’s an answer is like climbing a mountain with a guide, along a trail someone else has laid. In mathematics, the truth is somewhere out there in a place no one knows, beyond all the beaten paths. And it’s not always at the top of the mountain. It might be in a crack on the smoothest cliff or somewhere deep in the valley.” ― Yoko Ogawa, The Housekeeper and the Professor

Looks like this would be an interesting read https://www.goodreads.com/book/show/3181564-the-housekeeper-and-the-professor

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Avoiding Burnout

From The Hustle , avoid burnout is an excellent decsison, here is some helpful tips.



The 3 P’s of burnout

How to use priorities, positive constraints, and psychology to do more while working less

BY Ethan Brooks

Meet Bob.

Like you, Bob thinks his job is to juggle things.

He takes pride in being one of the best jugglers in the business: When someone asks him to throw an extra ball into his routine, he never says no.

Graphic: Sheoli Chaturvedi

If he doesn’t have time to get something done during the workday, Bob is always willing to do it at night, in between bites of dinner. His day often begins at 8am and doesn’t end until 10pm.

When he works late, he has the courtesy not to complain about it to his team (though he will occasionally hint at it).

Graphic: Sheoli Chaturvedi

Bob’s managers think he’s one of the best employees at the company. They celebrate his juggling skills, tout his willingness to take on new projects, and tell other employees they should follow his example. 

What they don’t realize is that Bob is putting himself, his team, and even his entire company at risk.

Because Bob is on the brink of burnout.

Graphic: Sheoli Chaturvedi

Medical professionals define burnout as “a psychological state of physical and emotional exhaustion” thought to be induced by work-related stress.

There are many theories as to what prompts burnout, but some of the more common job-related causes include:

·  A lack of social support at work (especially common among remote workers) 

·  Extremes of activity, or burning the candle at both ends

·  Unclear or undefined job expectations

·  Work-life imbalance

A Gallup survey found that 76% of employees have experienced some form of burnout. These employees are:

·  63% more likely to take a sick day than a non-affected worker 

·  23% more likely to visit the emergency room

·  2.6x more likely to look for a new job

Graphic: Sheoli Chaturvedi

Bob has been teetering on the edge of burnout for a while. If he continues grinding himself down, he won’t just end up being nonproductive: He’ll become anti-productive, making mistakes that the rest of his team must spend time fixing.

To make matters worse, Bob is now juggling all of his tasks from home, where it’s harder for his colleagues to gauge his stress levels.

Graphic: Sheoli Chaturvedi

Luckily, Bob has a little furry friend named Hamster Jack, who just so happens to be a burnout expert.

After years spent spinning around in the wheel of burnout, Hamster Jack knows just what it’s going to take to prevent Bob from fizzling out. 

And it all starts with defining what’s truly important.

Graphic: Sheoli Chaturvedi

Priority: When everything is important, nothing is

In Hamster Jack’s estimation, Bob’s first problem is that he thinks of his work in terms of priorities.

Bob juggles a lot of different tasks and considers them all to be critically important. But the very idea of multiple “priorit-ies” (in the plural sense) is relatively new.

A search through the world literature on Google N-Gram shows that the term “priorities” was practically nonexistent before the factory boom following World War II.

Before that, only the singular version of the word — priority — was widely used.

Graphic: The Hustle

As Hamster Jack reminds Bob, the idea of multiple priorities is an illusion: Two things can be important, but they can’t both be the most important.

When people say they have multiple priorities, what they’re really saying is that they have a hard time prioritizing. They are unwilling to make difficult, potentially uncomfortable decisions about what should take precedence over everything else.

The first step to catching and reversing burnout before it does damage is learning to take time to figure out which proverbial balls are actually important — and which need to be dropped.

Hamster Jack implores Bob to look at the things he’s juggling each day, and ask himself the following questions:

1.    Is this task still important, or has the situation changed? Often we commit to tasks or projects that are important at the time, but become less important as situations evolve.

2.    Am I really the only person who can do this? Many top performers think that doing something on their own is easier than teaching someone else how to do it. Trust your colleagues, and give them the chance to surprise you.

3.    Is this the most important thing right now? Or am I using it to avoid something else? Deep down, you know when you’re doing this.

4.    If this was the only thing I completed today, would I be satisfied with my day’s work? Part of avoiding burnout is focusing on work that will give us a sense of accomplishment.

As Bob himself starts juggling fewer things, it clears space for him to focus.

Graphic: Sheoli Chaturvedi

Positive constraints: Doing less to accomplish more

On its own, prioritizing won’t prevent burnout.

For someone like Bob, who’s grown accustomed to working nights and weekends, it doesn’t matter how much tasks are minimized: He’ll find ways to fill his time with more work.

Hamster Jack senses that Bob is a victim of Parkinson’s Law: “Work expands so as to fill the time available for its completion.”

The implication of this is simple, yet profound: To avoid working all the time — yet still get his work done — Bob needs to limit the amount of time he allots for work.

Graphic: The Hustle

Some companies and institutions have been experimenting with this very idea and seen positive results:

·  A New Zealand firm tested a 4-day workweek and found that it actually boosted productivity, creativity, and job satisfaction.

·  In 2019, Microsoft Japan closed their offices every Friday, and saw a ~39% increase in YoY sales per employee.

·  A 23-month study in Sweden found that nurses who worked a 6-hour workday had higher productivity levels and lower absentee rates than those with a longer workday.

But a mere “commitment” not to overwork won’t lead to sustainable change.

In order for this constraint to work, Bob needs to face real, unmovable barriers that force him to finish his work and leave the office — like scheduling a long-overdue date with his love interest, Roberta.

Graphic: Sheoli Chaturvedi

Psychology: The foundation for change

Lastly, Hamster Jack knows that without the right psychological approach, Bob will quickly fall back onto the hamster wheel of burnout.

Part of the problem stems from the common misconception that being a great employee means working hard. Hard work is part of the equation — but to be truly effective, Bob actually needs to do 2 things:

1.    Perform at the highest level

2.    Protect his ability to perform at the highest level

Doing the first while neglecting the second is only setting Bob and his team up for more problems down the line.

Hamster Jack — ever the fuzzy fountain of wisdom — suggests 2 rules to help him navigate his workday:

1. The 80% Rule

As Hamster Jack is fond of saying, “There are two types of hamsters in this world: Those who give 110%, and those who understand math."

The 80% rule suggests that a superb employee plans to devote 80% of their energy and focus for the day to their job. The remaining 20% should be reserved for hobbies, family time, and everything else that isn’t work-related.

By leaving some energy in the tank each day, Bob creates the space he needs to avoid toxic work-life imbalance. Still, Bob often feels guilty putting work away, which is why Hamster Jack shares another secret with him:

2. Diffuse Problem-Solving

The brain has 2 modes of problem-solving: focused and diffuse.

The focused mode, which is most familiar to us, is when we give our full attention to a problem and try to reason our way through it. It can be very effective — especially when the problem is relatively familiar.

But the diffuse mode is where the problem-solving magic happens. This is when we allow our mind to wander, allowing it to connect disparate ideas at a level the focused mode doesn’t allow for.

When Bob chose to step away from work and go live his life, he unlocked his mind’s ability to solve creative and complex problems.

And in the end, this did more for his career, his team, and his company than a few extra hours of juggling.

Graphic: Sheoli Chaturvedi

Editor’s note: This story was inspired by a presentation on burnout that Ethan gave to The Hustle's editorial team.

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Global Retirement Attitudes



interesting chart . Looks like most are not prepared and will have to work into retirement.  


Call us either way, we can help you keep on track, set some goals, and maybe help you dream and implement some tax smart strategies and give you some peace of mind.


Let’s make sure your making the right turns and are on track.  

No need to do this alone, we got you covered while you explore your life, the worlds gotten smaller. 




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Private School



Sending the kids to private school: Five questions to ask

You want your child to have the benefit of a world-class education. You don’t want it to drain your bank account. Before you enroll your child in private school, maybe you should read this.



Timothy Ross , Family Advisor

CEO & Founder, Brock Shores Financial

Mutual Fund Representative through PEAK Investment Services Inc.

This transmission is intended solely for the individual or entity to whom it is addressed and is confidential in nature. Please be advised that any distribution, reproduction or other use of this document by anyone other than the addressee is strictly prohibited.  If you have received this communication in error, please notify us immediately.  Thank you for your assistance

Brock Shores Financial / Timothy Ross & Associates

Family Office Providing Omega Stewardship

4502 Airport Road – Tincap, GTA Professional Center

Elizabethtown, Ontario K6T 1A2

613-345-0016 Office   613-213-4625 Cell/Text    613-345-5231 Fax


Executive Assistant: Heather Kiley assistant@timothyross.com

Mission - Vision – Core Values

“Serving our clients and community since 1988”


* One Stop Process Driven Approach for Retirement & Income Planning

* Personalized Tax Management Solutions for Individuals & Business Owners

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Time is Money

Why do we say time is money?

1 question, 3 ideas to discuss with your client:

“Smaller, sooner” is better than “larger, later” ...

Due to the way returns compound over many years, it’s more effective (and easier) to start investing small amounts earlier in life rather than trying to catch up later with larger amounts.

The right time to invest is… always

You can never guess when markets are going to rise or fall, so trying to “buy low” and “sell high” is foolhardy. A better strategy is to spread your risk over time by investing regularly, regardless of what the market is doing. This is known as systematic investing.

Investing is inventing your future

To get motivated to start investing, you should first identify the financial goals that are important to you: investing then becomes your way of achieving them.

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