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www.insideHALTON.com | OAKVILLE BEAVER | Thursday, November 6, 2014 | 32 Set goals for financial planning continued from p.25 Financial planning starts with setting goals. These often include paying down debt, assisting children with their postsecondary education and planning for retirement. It is all about you. Decide what you want and then plan to ensure you achieve your objectives. Make intelligent nancial decisions. After you have determined your goals, another group of decisions need to be made. Should you pay down debt on a regular monthly basis? Should you start a regular monthly savings plan with a speci c amount taken from your bank account to be invested? Should those investments be in a Registered Retirement Saving Plan, a Tax Free Savings Account or just a regular investment account? Planning is important. You should monitor and adjust the process as needed. Now, we switch our focus to implementing the plan by selecting the correct investments. A good plan with bad investments will not likely produce the desired outcome. A good investment strategy has many characteristics. Begin with asset allocation. How much should be invested in stocks or bonds and how should those investments be diversi ed within Canada, the U.S. or the rest of the world? After those decisions are made, it comes down to choosing what speci c investments you should purchase. That can be confusing because there are so many different options. Investments are also very well marketed, so for many investors, there are too many choices. You cannot control the eventual outcome of an investment but you can control what type of investment you choose and the cost of that investment. The more expensive an investment, the more money is directed away from the investor and to the investment rm and those who sold that investment. Good nancial planning and good investment decisions will signi cantly improve your chance at achieving your nancial objectives. It is worth devoting time and effort towards doing these two things well. We encourage you to spend time looking for ways to improve your nancial well-being. -- Submitted by Peter Watson, MBA, CFP , R.F .P ., CIM, FCSI., Certi ed Financial Planner RESPECT Our country thrives on mutual respect. Planning a pipeline works when different communities discuss and agree on a path forward. Learn about how pipeline companies work to engage the public, hear concerns and find the best solutions. Delivering Canada's energy. Every day. Learn more about pipelines in your life at: aboutpipelines.com R0022978347-1106