Why I Write This Stuff


The following is a excerpt from the introduction to my first book – Meekonomics, How To Inherit The Earth and Live Life to the Fullest in God’s Economy. 

I’m not sure why, I think it might have something to do with the current political climate around the world, but there has been a recent up tick in interest in my writing.  So I’m going to start republishing portions of my work on a semi-regular basis here.  Questions and Comments are always welcome, and feel free to click the link above to purchase a copy of the book…

I realize that it is an act of sheer hubris to attempt to write a book called Meekonomics. The meek don’t write books do they? Especially Mennonite kids from Southern Ontario with no formal education in either economics or theology.

I grew up in a small town surrounded by family farms and working class individuals. When I graduated from High School I wanted to be a record producer so I spent 19 years in the music business. In my mid 30s I read two books that unlocked my love of economics and theology; The Shock Doctrine by Naomi Klein and Simply Christian by NT Wright.  

There followed nearly 8 years of prayer, research and reflection on two things that have driven me for almost as long as I can remember; God and Money.

Although I have always held a strong faith my relationship with money has been an extreme roller-coaster from the highest of highs to the lowest of lows. I’m an entrepreneur. I started my first business at the ripe old age of the age of 10, I had an opportunity to become a millionaire before my 26th birthday only to fall victim to an unscrupulous fraudster and ended up bankrupt at 33.

My drive to understand money and reconcile economics with my faith started to take root in the fall of 2005 not long after I first filed my bankruptcy proposal. What I soon realized is that reconciliation of the God and Money issue is not just a personal question, although personal finance is a big part of it, it’s really required on both a micro and macro-economic scale if our society is to survive.

Call it what you will; estate or retirement planning, investments, pension plans etc. It all comes down to the storing up of treasures on earth just as Jesus warned us not to do.

Do not store up for yourselves treasures on earth, where moth and rust destroy, and where thieves break in and steal. But store up for yourselves treasures in heaven, where moth and rust do not destroy, and where thieves do not break in and steal. For where your treasure is, there your heart will be also.

The eye is the lamp of the body. If your eyes are good, your whole body will be full of light. But if your eyes are bad, your whole body will be full of darkness. If then the light within you is darkness, how great is that darkness!

No one can serve two masters. Either he will hate the one and love the other, or he will be devoted to the one and despise the other. You cannot serve both God and Money. [Matthew 6:19-24]

What you will find in the pages that follow is a journal of sorts. After my bankruptcy I set out to learn all I could about how this whole God and Money thing works. Anyone who has ever gone through something like that knows how devastating it can be. I was wounded, I needed healing and so I used the study of God and Money as the start of my healing process.

As I studied I took notes, those notes became a blog and that blog became this book. Most authors will tell you that they write for a specific audience, my friend Tim Day, author of “God Enters Stage Left” told me he first started writing for his kids as a way to help explain his faith in case he passed away before he had a chance to teach them in person. If I’m being honest I write just for myself, it’s a way to frame my thinking so that I can move forward in life secure and grounded in what I know to be true.

I first published the blog as a way to share what I was learning with my closest friends and family around the world, I never dreamed anyone else would be interested in what I had to say but I soon had over 100 readers on-line encouraging me to go deeper and publish more. The idea for the book came out of that interaction with the on-line community.

Lauren C. Sheil is a serial entrepreneur who has been in business for over 25 years. His latest book “Meekoethics: What Happens When Life Gets Messy and the Rules Aren’t Enough” is available on Amazon.com.

He can be reached at themeekonomicsproject@gmail.com or by calling 613-295-4141.

 

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New Media Channel – I’m on YouTube!


Thanks to the camera in my iPhone and a free editing program I downloaded, I am know able to record my thoughts on video!

Here is the first of what I hope will become a new way to communicate my message to the world.  Check out my first Vlog – “What I do and Why I do It.”

Let me kow what you think!  Feedback is always appreciated.

7 Tips to Recover from a Financial Setback


why-meBad things happen to good people. Overcoming financial challenges – in whatever form – takes dedication, patience and planning.

In life, you will have trouble, that’s a given. This can include losing your job, going through a divorce, or experiencing a serious illness. Then there are all those unexpected expenses life throws at you. A leaky roof, flooded basement, major car repair – any one of these could cost thousand, with no time to waste and room to negotiate.

And to add insult to injury, often times, more than one of these situations occur at once. It’s fairly obvious to think that these challenges often affect your finances – so how do you recover?

Here are seven tips for getting back in track after a financial setback, as recently published in “Solutions for Financial Planning”, a periodical publication from Manulife Financial.

  1. Get Professional Advice – A professional perspective can be invaluable, no matter the size of your problem. An financial advisor can help you assess the impact on both your short-term and long-term plans, adjust your goals, and develop a plan that helps lead to recovery. Getting advice first, will help you avoid making bad decisions like, racking up a large credit card balance that could only serve to prolong your troubles. Your advisor should help you gain perspective, relax a bit and offer constructive solutions to your problem.
  2. Tighten You Budget – Your budget probably has some slack. Regardless of the cause of your troubles, it’s time to eliminate that slack and get your budget back in balance. Take a hard look at your non-essential costs. I encourage all of my clients to play a little game call “Every Dollar Has A Name” in order to find the margin in their budget. Are there free or lower-cost alternatives to the things you do on a regular basis? Borrowing books, magazines and videos from the library, activities in a local park or at a community centre, or the ever popular staycation versus expensive vacation can all help save thousands. You could even take a look at negotiating a better deal on certain products and services without cutting back.
  3. changesExplore Big-Ticket Cost Savings – If things look as if they could have a lasting impact, and a high cost, it may be time to make some significant changes to your lifestyle. Changes that go beyond simple trimming and include some of the biggest line items in your budget. Consider moving to a smaller home a more affordable area and can you make do with one car? Major changes are difficult, but they may be the key to helping protect your future.
  4. Earn Extra Income – Spending less can only go so far, can you bring in more money? Can you sell something of value like art, an antique or a collectible? Maybe you can work more hours or even take a second job. Or course, working more takes time away from other commitments and might increase certain expenses like child care. And don’t forget the tax implications of earning more income. Ask your advisor to help you run all the numbers to ensure your extra income will more than pay for those extra costs.
  5. Talk To Your Mortgage Provider – If you have a mortgage, you may be able negotiate more manageable terms. You could switch from accelerated to more standard payments or if you’ve made lump-sum prepayments in the past, you may qualify for a short-term holiday from payments. It might also be possible to lengthening your mortgage’s amortization and add any payments you’ve missed to your balance. Lastly, if you are close to the renewal date on your mortgage, a full scale consolidation and change of provider may be in order.
  6. Talk To Other Creditors Too – Don’t letting bills slide, call your creditors, explain your situation and ask to lower your interest rate or reduce your payments. Most companies recognize the value of keeping you as a customer long term and are willing to negotiate rather than take a hard line and risk losing your as a customer forever. This can give you the breathing room you need to get through the worst of a setback and help protect your credit rating.
  7. Borrow Sensibly – If you simply can’t find any more savings or increase your piggywaterincome and you’ve run through your savings, check into the lowest-cost sources of borrowing. This can usually take the form of a secured line of credit or the aforementioned consolidation loan. Your advisor can help you identify the best solution for you.

 

Recovery from a financial shock is a journey. It will likely take several months or even years to get back to where you once were. But with a little determination, patience, planning and hard work, it can be done!

As things start to improve, make sure you stick to a streamlined budget and put extra money towards your long term debts. Start building a substantial emergency fund (three to six months of expenses) so you have resources on hand the next time you hit a financial speed bump.

Once you are in a stronger position, with more a bit more margin, look at other ways to help protect yourself from future shocks, such as various forms of personal insurance including, health, dental, critical illness and disability coverage. Start to set some money aside for the future too in one of the many government sponsored tax advantaged savings vehicles like a Tax-Free Savings Account (TFSA), Registered Retirement Savings Plan (RRSP) or even a Registered Education Savings Plan (RESP).

After enough time has passed and you have recovered emotionally from the stress, take some time to look back and think about what you might have done differently. Hindsight is 20/20 so use it to your advantage. Learn from the experience, without assigning blame and make sure you’re in a stronger financial position in case another difficult situation occurs.

balancingLastly, and I can’t stress this enough, go back to the very first tip and engage the help of professional financial advisor. Strong financial advice means a strong financial future. Households with an advisor are more likely to:

  • Have enough money to live the life they want (61 per cent compared to 31 per cent with no financial plan)
  • Be able to take an annual vacation (74 per cent compared to 44 per cent with no financial plan)
  • Have enough money for splurges (65 per cent compared to 31 per cent with no financial plan)

It doesn’t “just happen.” But it does happen if you have the right plan and support.

Lauren C. Sheil is a serial entrepreneur who has been in business for over 25 years. He has operated a small farm, a recording studio and a music manufacturing plant, and has written 3 books on Economics, Ethics and Spirituality.  He has presented his ideas to business owners and leaders from all over the world. His latest book “Meekoethics: What Happens When Life Gets Messy and the Rules Aren’t Enough” is available on Amazon.com.

Mr. Sheil is currently a Financial Security Advisor and Business Planning Specialist with one of Canada’s premier financial planning organizations.  He brings to his work a passion for people and a desire to teach everyone to live life to the fullest while Eliminating Debt, Building Wealth and Leaving a Legacy.  

He can be reached at themeekonomicsproject@gmail.com or by calling 613-295-4141.

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Weathering Stormy Seas


stormatseaI start a lot of my initial client meetings with the following a metaphor.

Picture yourself on a sea voyage to a place called “retirement island”.  Our job today is to make sure your ship is sea worthy, that you have adequate supplies for the journey, (including life preservers) and that you bring enough cargo with you to survive once you get there.  As we all know,  retirement island, is a desert island and apart from the monthly visits of the S.S. Government Pension, everything you will need to live on retirement island will need to brought with you.

A lot of Canadians are jittery about investing. And who can say they’re wrong to worry? Between slumping oil prices, and the Canadian dollar’s dramatic ups and downs, the economy has taken a big hit in recent years. So has investor morale. Market volatility, along with economic uncertainty seems to be the new normal. The sea we are traveling on is choppy to say the least.

But even in a harder investment climate, diversification, with at least some stocks and bonds, is in my opinion the only way to beat inflation. This is specifically why today’s stormy conditions are leading some investors to consider taking a look at included segregated funds as part of the investment portfolio in the cargo hold of their ship.

A recent issue of “Solutions for Financial Planning” the client periodical from Manulife Financial, contained a fantastic article on the features and benefits of segregated funds. Much of the following information has been gleaned from that article and my personal experience in the financial planning industry.

What is a segregated fund? I’m glad you asked.

moneylifepreserverOne way to look at it is to say that a segregated fund is a way to put a life preserver around your money.

A segregated fund incorporates the potential for growth offered by a broad range of investment funds with the particular wealth protection features of a life insurance policy. Segregated fund contracts can help reduce vulnerability to loss through a number of different guarantees. These guarantees include things like income levels, death and maturity, potential protection from creditors, and estate planning, all from one product.

For most investors worried about market risk and volatility, a segregated fund’s most attractive features are it guarantees. After all, there are very few in guarantees life.

With a segregated fund contract, you will positively receive at least 75 per cent of your deposits (up to 100 per cent in some cases), minus any withdrawals, when the contract matures. This is called the maturity guarantee, and it applies on a set date. The maturity date occurs after a minimum number of years have elapsed or when the owner attains a certain age, (usually age 100). Even if markets decline during the period you will still receive the minimum guaranteed amount. If markets rise, your savings grow. Some contracts will even allow you to reset your maturity date so you can lock in growth.

One important detail about segregated fund contracts is that they are actually life insurance policies. Only life insurance companies can offer them, and only licensed life insurance representatives can sell them.

Segregated fund contracts vary widely. They can offer a diverse range of guarantees, features and fees. We are here to help and can explain the differences and recommend the various options that are available to you.

smoothsailingSegregated funds commonly suit more conservative investors, especially during stormier seas and more volatile markets. For investors who don’t want to lose sleep over the market ups and downs, the guarantees that come with segregated funds can provide some peace of mind and help offer smoother sailing. They also appeal to people for whom estate planning and the potential for protection from creditors is a top priority.

Segregated fund contracts also include a death benefit guarantee, similar to the maturity guarantee, if you die while the markets are down your estate or named beneficiary will receive a pre-determined percentage of the original deposit, regardless of the market value of the fund at the time. The guarantee can be up to 100 per cent, depending on the type of contract selected and the age of the purchaser. Your named beneficiary gets the death benefit in the event of your untimely passing. You can name anyone as your beneficiary, family member, friend or even your favourite charity.

Keep in mind that the guarantees are a type of life insurance, which you are going to pay for. Segregated fund costs are similar to the fees charged for comparable mutual funds and include management fees, insurance fees, operating costs and applicable sales tax. A contract might also include a charge for early with drawl. We can provide you with an itemized list of all fees prior to making any investment decision.

retiredcoupleonabeachGiven all of these advanced features a segregated fund contract could be just the answer for investors looking to minimize their exposure to risk and still take advantage of the upside potential of stock based investing. So that when you finally arrive at retirement island, your ship is intact and you can relax on the beach for the rest of your days. Given the ups and downs of today’s markets, they certainly deserve a closer look. Why not give me a call to discuss whether segregated funds are right for you?

Lauren C. Sheil is a serial entrepreneur who has been in business for over 25 years. He has operated a small farm, a recording studio and a music manufacturing plant, has written 3 books on Economics and Ethics and presented his ideas to business owners and leaders from all over the world. His latest book “Meekoethics: What Happens When Life Gets Messy and the Rules Aren’t Enough” is available on Amazon.com.

Mr. Sheil is currently a Financial Security Advisor and Business Planning Specialist with one of Canada’s premier financial planning organizations.  He is passionate about helping entrepreneurs and everyday families to live life to the fullest while Eliminating Debt, Building Wealth and Leaving a Legacy.  

He can be reached at themeekonomicsproject@gmail.com or by calling 613-295-4141.

 

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Add value to your financial plan. Work with a professional.


financial-adviceFinancial advice is easy to find. Family and friends are always trying to tell you what to do. You can find financial advice and information online, in magazines and books and on the nightly news.

Most people prefer to deal with their banker, thinking that it will be easier to keep all of their financial transactions in the same place, but the fact is the bank may not have access to some of the most important pieces of a complete financial plan. Some people even ask their lawyers and accountants for advice, especially when making decisions about their business or their estate.

The fact is that advice is usually cheap and easy to find.

But what advice is the right advice?

Can you find out the best way to protect your family and your business from a banker who has little to no knowledge about Life Insurance? Should you ask your accountant, who is most concerned about reducing your taxes in the short term, how a decision made today will affect you in the future? Are you getting a good image of the big picture from professionals who are focused on one area of expertise?

When you stop and think about it, taking a do-it-yourself approach to financial planning and pulling in bits and pieces of advice from specialized sources like this usually becomes overwhelming quite quickly. There are just too many investment and insurance options to choose from.

financial-advisorDeveloping a relationship with a professional financial security advisor can help cut through the noise and figure out what you should be focused on and help you build a complete financial security plan that puts your needs and goals first.

A good financial advisor will know that each product you purchase, whether it’s an investment in a Registered Retirement Savings Plan (RRSP) or some form of insurance policy, will perform a vital role in your overall plan and what specific need or goal it will help you to accomplish.

A good advisor also knows that helping you develop a sound plan is about way more than just making a sale. A comprehensive plan should also include advice on such diverse topics as tax strategies, estate planning, your retirement savings, child and continuing education, insurance and other forms of risk management.

A financial advisor is a hugely important member of a whole team of professionals you should have working on your behalf. Depending on your needs a team that can also include your banker, your accountant and a lawyer as needed.

Like the other experts on your team, a financial advisor is a specialist in the field and can help identify opportunities even the most financially-savvy investor may not know about. A financial advisor takes a holistic and long-term approach to your security that is based on consistency, understanding, and trust.  And that is the kind of value added that I don’t think you can find anywhere else.

rrspRRSP season is just around the corner, if you haven’t already done so, now is the perfect time to bring a financial advisor on board to help you develop a comprehensive financial plan, not just for this year, but for the rest of your life.

To learn more about the benefits of working with a financial advisor, drop me a line…

Mr. Lauren C. Sheil is a serial entrepreneur who has been in business for over 20 years.  He is currently a Financial Security Advisor with one of Canada’s premier financial planning organizations.  He holds dual licenses from the Financial Services Commission of Ontario (FSCO) for Life, Disability and Critical Illnesses Insurance and the Mutual Fund Dealers Association of Canada (MFDA) for personal investments.  He is passionate about helping people to live life to the fullest while Eliminating Debt, Building Wealth and Leaving a Legacy.  

He can be reached at themeekonomicsporject@gmail.com or by calling 613-295-4141.

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