Understand your insurance coverage, and sleep better at night

There are no guarantees in life, but purchasing adequate insurance is one concrete way you can eliminate some of the uncertainty about what would happen to your family or business in the event of job loss, illness, death, or other unforeseen occurrences.

After all, life these days is not as stable as it used to be. Things were different just a few generations ago.  People seemed to enjoy much more stability and security with their careers, relationships, and finances. Now things seem to change at a head-spinning pace, causing us to adjust on a yearly basis to what we used to adjust just once a decade.

That difficult conversation

Unfortunately, most people are reluctant to think, let alone talk, about the possibility of being unable to work because of becoming disabled, or not being able to provide for their families because of death. Often neglected is the impact on a growing business if its key people are unable to take part in daily operations.  These are very difficult conversations to have, and the natural inclination is to avoid them and simply hope for the best.

But it’s better to take the time now to think through these adverse scenarios and educate yourself about the insurance coverage options available. With confidence built from learning as much as possible about insurance, you’ll be better prepared for the future.

How much coverage do you need?

The starting point for building confidence in your insurance plans is to determine how much coverage that you need.  Let’s use life insurance as an example.  When considering your personal situation, here are a few things that impact coverage amount; do you have a mortgage, do you have an emergency fund, do you plan to help your kids or grandkids with their education or do you have any charitable organizations that you would like to leave funds to?  When considering your business needs, here are some things that impact coverage amount; would your company need access to liquid funds for operations, are there any business debts, are there any tax liabilities that will be triggered or is your shareholder agreement properly funded?  By working through questions like these, you will be in the best position to determine the proper amount of coverage to own.  Depending on your circumstances, there may be many more questions to ask, however the questions above are a great starting point. 

What’s your current coverage?

The next important step is to take a closer look at the insurance benefits you already have through your group benefits, your personal insurance plans, and insurance owned through your mortgage or attached to any associations you belong to. Take some time to understand these products, and you’ll feel much better knowing more about the insurance protection you already own.  Often the terms and conditions of these policies may be difficult to interpret.  A qualified insurance advisor can be a great asset in helping you understand the fine details of the various plans.  Similar to many other things in life, the devil is in the details, so make sure you understand them!

Close the gaps in your coverage

Once you’ve determined the amount of coverage you need and surveyed the insurance products you currently have in place, the next important step is to implement a plan to insure any shortfalls. For instance, you may have purchased insurance a number of years ago, but since then you have purchased a cottage or possibly gotten married again. Or, your company may have changed insurance carriers and you no longer have disability insurance.  These types of changes can lead to gaps in your coverages.  A qualified insurance advisor can be a great asset to assist in helping you secure coverage to close these gaps.

Life is full of opportunities and interests. Why not clear some worry off your plate so you’ll be in a better position to take advantage of those opportunities and ultimately sleep a lot better at night?

Free online resources

Get started today by checking out some of the resources online that can help you determine your insurance needs. One excellent resource is at:  www.lifehappens.org 
Find out what is right for your needs, and give yourself one less thing to worry about in today’s ever-changing environment!

In the event you need additional assistance in simplifying your life, we have developed a free report that identifies implementable tips that you can act on immediately to begin simplifying your life.  Visit www.simpleplanreport.com to download today!
Have a fantastic day and always remember to keep things simple!



Mark Landers is the creator of The Simple Plan Program and has been helping entrepreneurs simplify their lives for over 10 years.  He can be reached at Mark R. Landers, CFP CHS, The Northridge Financial Group Ltd. at 416.705.6640 or mark@nrfg.ca

To be more productive, take more time off

There are two ways to tackle a long-distance hike. You can do it as fast as possible, going all out every day, blasting along the trail without stopping until the end of each long day, and dropping into bed exhausted.

Or, you can take more time, perhaps a couple of extra days, and build regular breaks into the schedule so you can enjoy the scenery, eat, rest, and refresh yourself. The whole experience will be more fun and memorable.

Life is like this too, especially when it comes to how much time we spend working to exhaustion versus taking time off to recover and rejuvenate.

For most of us, we are typically told at a young age that to be most successful in our careers, we must work harder than everyone else. It’s drilled into us that the “time and effort” we expend will eventually be rewarded with income and status.

Over the last 20 years, however, our professions have shifted to a model where we are rewarded more for the results of our work—and less for the “time and effort” we put into it.

The challenge of shifting gears

Shifting into this different gear can be challenging if we are used to thinking that the harder and longer we work, the more our business will grow. With work styles built around long hours, doing everything ourselves, and that feeling of accomplishment after a 12 or 14-hour day or working over the weekend, we end up focusing more on the number of hours we work than on the quality of our work. It’s easy to fall into the trap of feeling like a hero because we put so many hours into our businesses.

Overtime and overwork, though, can often result in a decline in the quality of work and the ability to maintain focus. It also takes time away from other important parts of life such as our health, family, friends, and personal interests.

Anthropologists have long noted that tribal people in remote parts of the world have much more leisure time than modern Western working people like ourselves. They work hard in short bursts, but they also spend a lot of time just hanging out talking, laughing, playing with the kids, and feasting. Their verbal communication skills are often extremely well honed because they talk to each other face to face so much.

We can definitely take a page from these more relaxed lifestyles.

Keep results in the forefront
To be most efficient and effective, we need to keep “results” in the forefront, employing delegation and teamwork, and keeping ourselves extremely sharp.

One of the best ways to stay sharp is to schedule a sufficient amount of time away from work to look after all the other “stuff” in our lives. That includes staying healthy through exercise and diet, and visiting our doctor regularly for check-ups.

And it means spending time with our partner, children, family and friends; pursuing our most important personal goals and hobbies—and of course spending time relaxing!

Personally, after a great long weekend, or an excellent family trip, I usually come back to work refreshed and full of energy and creative ideas.

Build vacation days into your calendar

When owning a business, it takes some planning to ensure we have free time away from work. As a starting point, grab a 12-month calendar, and talk to your partner about what dates are ideal to book as time off from work. Try to block off at least a few vacation days every quarter.

And the final point: guard those days off like a hawk! It’s okay to exchange your planned vacation days for other dates if things come up—just don’t cancel them.

Next time you are feeling stressed and overworked, or it seems like nothing in your life is making sense, try taking a day off work. Plan that day for yourself, and see how much better the time off makes you feel!

In the event you need additional assistance in simplifying your life, we have developed a free report that identifies implementable tips that you can act on immediately to begin simplifying your life.  Visit www.simpleplanreport.com to download today!
Have a fantastic day and always remember to keep things simple!



Mark Landers is the creator of The Simple Plan Program and has been helping entrepreneurs simplify their lives for over 10 years.  He can be reached at Mark R. Landers, CFP CHS, The Northridge Financial Group Ltd. at 416.705.6640 or mark@nrfg.ca.


Take care of yourself and learn to say no!

Athletes spend a lot of time stretching and extending their bodies. But over-extending can cause injury. It’s the same outside of the athletic arena: We can stretch ourselves and discover new ways to feel fulfilled and make our dreams come true. But we have to be careful not to over-extend ourselves.
The truth is that half of the troubles in life can be traced to saying yes too quickly and not saying no soon enough. We rush in impulsively without considering the consequences to our own health and well being.

In Canada where we live the good life, so many of us are stressed from being overcommitted and pulled in a million different directions. It’s shocking how stress sabotages health. Scientists tell us that around 50 per cent of all serious illness is directly caused by stress. It’s been called the scourge of the century.

What are you getting yourself into?

Think about those situations--even people—that drag you down and “zap” your energy. You may be exhausted but still say yes to extra volunteer work, working overtime to cover for your staff, attending social events, or doing favours for friends. Or what about that needy employee who backs you into a corner and monologues about their personal problems while your work sits unfinished? Your impulse may be to run away but you allow yourself to become drained by their bad energy.

These are all ways you may let your good nature overtake the need to look after yourself. All your efforts may not even be appreciated, and the result is that you feel even more tired and run-down—which makes you vulnerable to insomnia, colds and flu, and other stress reactions.

Saying no is a skill

For us people pleasers, it’s a real challenge to draw the line and say no. And yet we need to make our own happiness the top priority and try our best to leave the guilt behind.

Just remember, saying no doesn’t make you a bad person. It doesn’t make you insensitive or a bad leader.  Rather, it means you are strong and confident with your boundaries and limits.

Practice saying “no” in front of the mirror, and smile when you’re saying it. You can actually learn to feel good about saying no, instead of guilt-ridden.

Your YES and NO list

A super-simple method for learning to say no is to make a YES and NO list. Jot down all the things you love doing, things you are passionate about, and things that give you energy. This is your YES list.

Then make a list of things you dislike doing, things that frustrate you and drain your energy. This is your NO list.

You can then use these lists as tools to help you make decisions. If it’s in the NO list, it’s probably something you should avoid. If it’s in the YES list, it will likely enhance your life.

The awesome thing is that there are probably many people in this world who have a lot of the items on your NO list at the very top of their YES list. Your YES and NO list enables you to figure out people’s strengths and work together to assign roles on projects. This can be great at the office, around the house, and in community organizations.

You hate coaching kids’ soccer games? Your friend down the street loves it, but has no desire to lead adult hiking trips on Sundays—something you really like doing.

Try it out and see what happens. You might be surprised by the insights you arrive at.

In the event you need additional assistance in simplifying your life, we have developed a free report that identifies implementable tips that you can act on immediately to begin simplifying your life.  Visit www.simpleplanreport.com to download today!
Have a fantastic day and always remember to keep things simple!







Mark Landers is the creator of The Simple Plan Program and has been helping entrepreneurs simplify their lives for over 10 years.  He can be reached at Mark R. Landers, CFP CHS, The Northridge Financial Group Ltd. at 416.705.6640 or mark@nrfg.ca

Move to the front of the line and pay yourself first

It’s fun to spend money, and, as one of the core principles of economics states, human beings have unlimited wants. So the big challenge in life is maintaining a balance between saving for things you want to buy in the future, and spending on things today.

As certain reality TV shows reveal, most people are really good at spending but not very good at saving. Their approach to finances and budgets is to set a goal that, as of next month, they are going to begin to spend less and save more for the future.

The first of the month rolls around, and they begin to keep an eye on their bank account. They see their bill payments come out, and they commit to taking whatever funds are left over at the end of the month and allocating those toward their retirement plan. Throughout the month, they try to watch their expenses, but amazingly, by the 30th they are only able to get the bills paid.

The net result is no additional funds for savings. They then set the same goal for next month, and the cycle repeats. A few months later, they feel really frustrated that they are making little progress. So, in an effort to feel better, they invest in some “retail therapy” and enjoy a weekend shopping spree on their credit card! They then struggle over the next few months and scrape by to pay it off. The net result is an overall feeling of frustration and no progress toward their savings goal.

This is further complicated when owning a business.  The combination of volatile cash flow and the constant need to reinvest in core business needs such as staff, technology and marketing do not make things any easier.  This can lead to feelings of even greater frustration and even thoughts questioning the viability of the business itself.

Pay yourself at the start of the month

A simple solution, instead of trying to “pay yourself last” at the end of the month with whatever is left over, is to “pay yourself first” at the beginning of the month—before everyone else gets their hands on your cash. This means having money automatically routed at the beginning of the month to a designated savings vehicle.  This works great personally or inside of your business.  If you can allocate a percentage of your income into savings this way, it will shock you to see how you can still get your bills paid every month despite having a bit less money to do so. Setting up payments to be automatic is the key!

This can be done in a number of ways:

1.    Automatic transfers from your chequing account to savings or extra payments to credit cards, through online banking or telephone banking.

2.    Pre-authorized withdrawal programs with investment or retirement savings providers.

3.    Extra mortgage/debt payments by contacting your lender and requesting they increase your regular payments (even $100 monthly can make a big difference over time).

4.    Payroll savings plans. This one is really easy; your payroll service withholds a portion of your paycheque and directs it towards a savings plan before it hits your bank account.

The great thing about many of these automatic savings vehicles is that they are flexible and can be increased or decreased any time. So if you have a very profitable quarter, adjust your transfer to be a bit extra for a couple of months. Or if your business is seasonal, turn off your savings plan and restart it a few months later.

How much to save

Everyone wonders what the “magic number” to save every year is or “How much do I need invested to retire?” This is truly an individual question, as there are so many different scenarios and goals. For advice tailored to your own circumstances, speak to a qualified financial planner.  

A rule of thumb I typically use with my clients is to save 10-20% of your income every month. For me personally, this is what I strive to do….some months more successfully than others. Of course, 20% is a fairly large percentage if you are not accustomed to this type of investing. It’s no different than exercise……if you are not habituated to regular exercise it’s tough to jump off the couch and run a marathon. So, start nice, easy and small: possibly 3% or 5% of your income. Set a goal to increase by 1 or 2% every few months. A few years later you’ll look back and have a nice chunk of cash set aside!  Remember, every little bit counts.

In the event you need additional assistance in simplifying your life, we have developed a free report that identifies implementable tips that you can act on immediately to begin simplifying your life.  Visit www.simpleplanreport.com to download today!
Have a fantastic day and always remember to keep things simple!



Mark Landers is the creator of The Simple Plan Program and has been helping entrepreneurs simplify their lives for over 10 years.  He can be reached at Mark R. Landers, CFP CHS, The Northridge Financial Group Ltd. at 416.705.6640 or mark@nrfg.ca

Understand your strengths and focus energy towards them.

Early in life we discover we are great at some things, OK at other things, and not so great at many things. But our tendency is to try to become great at the things we are weak at. We work hard, and tough it out, all in an effort to get better.

Of course, it’s always good to try to improve ourselves and become more proficient. But for those things we’ve always been weak at, we may be wasting our efforts.

That’s because there are only a few things we do on this planet that excite us, engage us and provide us with enough energy to keep doing them for hours on end. Conversely, there are many things in life that drag us down and can frustrate us in mere minutes.

The trick is to focus on our strengths and delegate tasks we are weak at. This way, we can make the best use of our time and energy and ensure our businesses operate as efficiently as possible.

The challenges of delegating

Delegating may seem difficult at first. Many people feel guilty about it. Or we are worried that no one can complete the delegated tasks as well as ourselves. You may feel you do not have the time to train a team member on a process.  It can be hard to let go and trust people you delegate to. But it’s not good for your health to try to do everything.

A more optimum situation is to recognize that there are likely many people on Earth who are just amazing at tasks that you or I have no natural ability towards.

Thus, the ultimate, most effective team is comprised of people with complementary strengths and weaknesses who can work well together.

Take the Kolbe test

A great tool to understand your natural strengths is the Kolbe A index <Link to: www.kolbe.com>
Try taking the Kolbe A index for insight into how you naturally initiate when solving problems.   Ask your team members to take the test as well. Or even your spouse.

The results will amaze you. It was such a breakthrough when I received my results.  It really gave great context to many of my reactions to past experiences in life. The test results can also help you best leverage working with your team so that everyone is focusing on their strengths and not spinning their wheels trying to get better at their weaknesses.

The optimum team

You might then have to make some adjustments. For instance, a five-person team of big-idea people with no aptitude for the small details may not be very effective. If you want to come up with ideas and have other people execute them, you need to surround yourself with people who can best compliment the areas that you are not as natural towards.

According to Dan Sullivan, founder of The Strategic Coach, everyone has one Unique Ability that no one else has. He defines it as “a superior ability that other people notice and value; second, we love doing it and want to do it as much as possible; third, it is energizing both for us and others around us; and, fourth, we keep getting better, never running out of possibilities for further improvement.”
You may want to block off some time to sit down and make a list of the things you are really good at, and which you are better at than anyone you know. From that introspection, you can gradually understand what you should be focusing on, and what you need to delegate to people around you.
As Dan Sullivan says, it’s all about guarding your time and prioritizing: “You need to protect your time and attention, reserving it just for those decisions, relationships, and opportunities that need your particular skills and wisdom. If you don’t do this, your business (or life) will be limited to what you, personally, can do on any given day. But …. develop a team whose abilities complement your own, and you’ll suddenly find yourself with more time….”

In the event you need additional assistance in simplifying your life, we have developed a free report that identifies implementable tips that you can act on immediately to begin simplifying your life.  Visit www.simpleplanreport.com to download today!
Have a fantastic day and always remember to keep things simple!



Mark Landers is the creator of The Simple Plan Program and has been helping entrepreneurs simplify their lives for over 10 years.  He can be reached at Mark R. Landers, CFP CHS, The Northridge Financial Group Ltd. at 416.705.6640 or mark@nrfg.ca

Invest Time in Relationships

What makes you feel more excited: anticipating dinner with your best friend, or finally getting that new smartphone app you’ve heard so much about?

Technology is a powerful tool, and you can either use it to keep your distance from other people or facilitate stronger connections with them. It should never be subservient to the relationships you foster with friends, family, your team members, and clients—even though we’re all constantly bombarded with new ways to electronically communicate: email, text message, Facebook, instant message, Facetime, Skype, and probably many more in the near future.

These easy means of communication are often utilized in place of personal, one-on-one contact. So we are increasingly forging more fleeting electronic relationships and fewer genuine personal relationships—which can lead to a sense of social isolation.

E-confusion

Have you ever used electronic communication to avoid an in-person confrontation?  It seems like a good idea in theory, as we can spend time rewriting and editing our point of view before we send the message.

But many times these written messages just lead to confusion, as the written words are unable to convey emotions and thoughts as accurately as talking in person, face to face. It’s so easy to press “send” or “post,” but the ensuing confusion is often more difficult to deal with than looking someone in the eye and discussing things carefully. It takes more sophisticated interpersonal skills to deal with an issue in person, but these skills are definitely worth learning and building on. Of course, many companies, sectors and industries have relocated to other parts of the world, which means you have to work harder at communicating effectively with colleagues on different continents. 

The best plan is to take advantage of the efficiency and speed of electronic communication, while always choosing the best way to craft the content of your message.

Outmoded systems

Many people feel that to thrive in today’s business world, they need to become expert at the next great piece of technology—such as a new purchase order system or a new accounting system. Then by the time they’ve mastered it, a new system has come along, or the system is updated and they’re back to the drawing board learning something new. Sometimes these new systems become so robust they end up replacing entire businesses or industries. Therefore, if we can position our businesses in areas that are mainly focused on interacting with people, creating value, and creative thinking, we will have a lot more longevity than if we specialize in a specific product or system.

Relationships always in style

No matter what direction technology takes, people and businesses will always have challenges and problems to solve. As Dan Sullivan says, Microtechnology, no matter how fast and powerful, will never replace two uniquely human capabilities: the ability to create infinite number of new things, and the ability to relate to other human beings in an infinite number of new ways.”

To be well positioned for growth, align your business with this approach. Take the best of technology and use it to your advantage for its greatest features. Just remember that your most valuable investment is in relationships. They never seem to fall out of style!

In the event you need additional assistance in simplifying your life, we have developed a free report that identifies implementable tips that you can act on immediately to begin simplifying your life.  Visit www.simpleplanreport.com to download today!
Have a fantastic day and always remember to keep things simple!



Mark Landers is the creator of The Simple Plan Program and has been helping entrepreneurs simplify their lives for over 10 years.  He can be reached at Mark R. Landers, CFP CHS, The Northridge Financial Group Ltd. at 416.705.6640 or mark@nrfg.ca