Still Thinking…?

This is for those who are still on the fence about implementing The Smith Manoeuvre (or any financial strategy or action which could improve your financial life).

Here’s a little secret – I know what you want.

You want increased savings and investment.
You want to pay less tax.
You want to be rid of your expensive mortgage debt sooner.
You want increased financial security.
You want a retirement full of abundance, freedom and free of financial worry.

But what roadblocks are standing in your way?

  • Around half of your income goes to taxes.
  • Your salary or wage increases are not keeping up to inflation.
  • The cost of essentials such as food, housing, gas and clothing is increasing.
  • This all combines to leave you with serious challenges to reaching your goals.

Some questions for you:

  • We know that taxation is necessary, but do you feel that taxation is working toward your financial betterment or against?
  • Do you feel that inflation is working towards your financial betterment or against?
  • Does the rising cost of living work towards your financial betterment or against?

So we realize that we need to do something but what happens when you do actually go looking for investment advice to work towards your financial betterment? What do you hear from most financial professionals?

  • “Max out your registered contributions”
  • “Invest more”
  • “Pay down your mortgage faster”
  • “Pay down your consumer debt faster”
  • “Reduce your spending”

But the problem with all of these pieces of ‘advice’ is that they require something more from you – either more money (which you don’t have) or more sacrifice in your standard of living (which you don’t want).

It doesn’t have to be that way.

The Wealth Pyramid

Picture a pyramid and at the very top of it sit the truly wealthy. The 10% of Canada’s population that own over 50% of Canada’s wealth. Why is it that they are way up there and you’re way down here closer to the middle or bottom? It’s because they understand debt and they understand investing. They learned about it early and they took action.


The word ‘debt’ should not be this one big dark cloud that hangs over us. And for the wealthy it isn’t – what the wealthy learned early on in life is that debt can be either friend or foe.

Debt is your enemy when it is non-deductible because you acquired it to buy cars, jet-skis and that rowing machine in your basement that helps dry your laundry. Wealth destruction.

Debt is your friend when it is tax-deductible and is such only because you acquired it to invest in assets that will appreciate in value. Wealth creation.


The wealthy also understand investing. That it is important to put your money to work as soon as possible, as often as possible, and by as much as possible.

Investing works…and the wealthy invest.

Lack of Education

It’s not your fault. You were never taught anything about personal finance in school. You learned first by watching and listening to your parents – and they were very likely not financial professionals. Then you learned by watching how your friends were with money. And they were not financial professionals either. And then you carried those early learnings into young adulthood and maintained those early perceptions about money and how it works. Then you got your first credit card and no one told you about credit; then you got a car loan and the dealership was the one to teach you about financing; then you got a mortgage and the banker taught you about mortgages… and on it goes.

The cards have been stacked against you all your life.

But here you are. Taking action either by implementing strategies to help you get ahead or by at least starting to investigate how to get ahead. But for those still on the sidelines, I know that diving into personal finances and actually making decisions and change:

  • takes effort
  • can be scary
  • may be boring
  • takes time

But the prognosis for taking no action is not a bright one. Forced into a reverse mortgage in retirement, having to work in retirement, being financially reliant on your children in retirement, being forced to downsize…

But here’s what happens when you do actually make a change:

  • You will begin to reduce or eliminate those painful arguments and enjoy a happier more joyful homelife (money is the main cause of marital breakdown!)
  • You will feel a sense of empowerment
  • You will feel a sense of relief
  • You will feel a sense of comfort and calm
  • You will relax; start to enjoy each and every day a bit more
  • You will still encounter challenges in your life, yes, but challenges related to money will diminish
  • You will be a more pleasant person to be around
  • You will be an easier person to love
  • You will start to open up to everything life has to offer – all the beautiful things going on around you – because you won’t have weighted blinders on; you won’t be preoccupied with money, with money-related problems. Your head will raise and your eyes will open
  • You will start to enjoy life more

Doesn’t that sound good?

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Robinson Smith

Financial educator, speaker and best-selling author of Master Your Mortgage for Financial Freedom • How to Use The Smith Manoeuvre to Make Your Canadian Mortgage Tax-Deductible. AboutSpeakingLinkedIn

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