Page 7 - A Canuck's Guide to Financial Literacy 2020

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You work hard for your money and now it’s time to make your money work hard for you.
Learning how to invest is an important step in planning your future. Most people know they
should play a more active role in their investments but they often don’t know where to start.
Many companies are putting the onus of saving for retirement on individual employees
which means that the emphasis on investing should be more important than ever.

One important part of retirement planning is having a financial plan, a living document that
touches on the six pillars of financial planning and gives your family a peace of mind. The
six pillars of financial planning are the bread and butter of Certified Financial Planners.
These pillars are further discussed and broken down in detail in later chapters.

Step 1 - Set a Goal

Before you start investing, you should set a goal. Ask yourself, what are you investing for?
The goal should be Specific, Measurable, Achievable, Realistic and Timely, also known as
a SMART goal. The goal can be short term, medium term or long term.