www.insideHALTON.com | OAKVILLE BEAVER | Friday, February 28, 2014 | 20 A Olympic-win formula can be applied to financial planning n Olympic gold for men's hockey on Sunday for many Canadians was the highlight of the winter games. Mission accomplished. It was an aggressively lofty goal to repeat back-to-back gold medals in our sport because so many other countries are skilled in the game of hockey. While we celebrate our success, we recognize it was the result of a carefully orchestrated plan. Apart from the hockey component, the group effort down the road to victory comprised of goal-setting, planning, co-operation, teamwork and skill. Dollars & Sense Peter Watson Guest Contributor Is there a lesson we can learn from this hockey success that can be applied to our everyday lives? Can we all use a dose of Olympic hockey management to help us personally? If we all European Engineering Combined With Traditional Workmanship "Building on the Brightest Ideas Around Glass" 905.849.0266 planned our personal nancial management with the same focus and determination as our national hockey team, we would likely improve our nancial outcome. Success has a formula -- whether it is in sport or any other aspect of life. The starting point for any venture including personal nancial management is to set goals. Hockey's goal at the Olympics was to win the gold medal. This is why the players showed little emotion when they beat the Americans in the semi- nals to move on to the gold-medal game. Even late in the nal game with a 3-0 lead over the Swiss team, the players and the executives watching from above showed little emotion. The only focus was on scoring goals. It was all and nothing else. Days earlier the U.S. women's hockey team had a 2-0 lead on the Canadians with only a few minutes left in the game. They lost to the Canadians in overtime. After goal-setting comes the planning. A lot of focus prior to the Olympics was the team management's decision of planning who would be selected to play. One challenge is we have a large number of world- class players. The team executives looked not only at talent but at what role each player would ll. Co-operation and team work was signi cant in our victory. Most of the players are skilled at scoring goals and have enjoyed the personal glory that it brings. Our team was built on defense and every player made that team priority their own. All players had skill and implemented the defensive team game plan awlessly. A goal in our personal world of managing nances is clearly the most important ingredient for success. Setting goals is the fun part. When do you want to have enough money saved to purchase your rst or next house? When can you become debt free? When can you afford to take your dream vacation? Will you be able to retire? Will your lifestyle remain the same in retirement or will you run out of money? Planning your road to success can be done on your own, together with a family member or professionally with a nancial planner. Determine how it is best for you to plan and then just go ahead and do it. Co-operation and team work depends on who you elect to work with. There are many good options, such as working with a bank, an investment adviser or a nancial planner. Investment options include owning stocks, bonds, mutual funds or other forms of money management. Similar to how our hockey team was selected, you choose from good options and then decide on who your team players are, based on how you have planned your approach. Our recommendation is to learn from the disciplined approach that won Canada the gold medal in hockey. Create your own nancial success and that certainly would be mission accomplished. -- Submitted by Peter Watson, MBA, CFP , R.F .P ., CIM, FCSI., Certi ed Financial Planner WATER DEPOT OAKVILLE INTRODUCES THE CHLORAMAX TREAT EVERY DROP OF WATER IN YOUR HOME The ChloraMax will remove or reduce: Chlorine, Copper, Lead, Magnesium, Zinc, Odours, Pesticides, Herbicides, Trihalomethanes, Trichloroethylene. NO hydro required, NO drain required, NO backwash required. NO Chemicals means a Healthier Lifestyle! STEPHEN DURBIN BA LLB BARRISTER AND SOLICITOR A LAWYER WHO WILL FIGHT FOR YOUR RIGHTS. FAMILY LAW Highest rated family lawyer in Ontario (January 21, 2014) on lawyerratingz.com $ 2251 Westoak Trail Blvd. | 905-257-9257 Oakville Water Depot March Madness...First 25 get this Amazing Deal! 79900 Email: info@stephendurbin.ca · 905-847-0888 156 Lakeshore Road East, Suite 203, Oakville www.stephendurbin.ca