5 myths about the financial plan

While financial planning may seem disorienting, we guarantee it doesn’t have to be. You need to see financial planning as an important moment when you verbalize your ambitions, projects and life goals so that you can make them a reality.

The financial plan serves as a guideline to help you achieve financial independence. It includes planning for your children’s education, investments, property purchases and retirement, among other things.

Whether you’re an employee, self-employed or entrepreneur, it’s an agile exercise that adapts to all types of financial situations.

By mapping your finances,

  • You’re better prepared for the unexpected because you’ll have a financial cushion.
  • You know the state of your financial health, so you make better decisions.
  • You ensure yourself long-term peace of mind.

Above all, you don’t have to dive headfirst into the numbers by yourself. At Desjardins, financial planning is completely free.

Our wealth management team at the Caisse Desjardins des Technologies understands the context of workers in the technology and telecom sectors, and knows exactly how to guide your plan so that it’s just right for you.  

MYTH 1 : « I’m too young to think about my financial plan. » 

No, you aren’t! Whether you’re just starting out in your career or not, it’s never too early to plan for your financial future. In fact, the younger you are, the more time you have to benefit from the returns on your savings and investments. Even if you can’t put a lot of money aside right now, you’re developing your savings reflex and your financial agility.

It’s important to update your plan as soon as you start a new job, since many employers offer tax benefits, such as retirement funds. A good management of its levers can pay you big later. 

Hortensia Sanz

Wealth management advisor

MYTH 2 : « The financial plan is the same as the budget. »

No. These tools have different purposes, although both are important. A budget is primarily a tool for managing day-to-day finances. It’s great to follow one to make sure you have the minimum funds for recurring accounts, like your phone bill or mortgage. The financial plan has the more global objective of linking together all the important financial aspects, such as debt management, protection, tax optimization and so on.

In a good financial management, the budget is integrated into the financial plan to ensure a good balance between your standard of living and your ability to save.

Alexandre Amyot-Clairoux

Wealth Management Advisor

MYTH 3 : « I don’t make enough money to make my financial plan. »

Whether you’re making $30,000, $70,000 or $100,000 a year, a financial plan helps you anticipate risks and unforeseen events. No one is immune to financial problems, but it’s often those who are well prepared who recover more easily. That’s why strategies are developed specifically for your financial situation and goals, with your advisor. 

According to a survey by the Institut québécois de planification financière, just over half (56%) of Quebecers have a financial plan, regardless of their annual salary.

The plan we work on together can be adjusted at any time. As your life changes, we revise it as necessary to ensure that it always meets your financial goals.

Étienne Trudel

Wealth management advisor

MYTH 4 : « The financial plan is only a retirement plan.» 

Not only that. Work trends are changing in all job markets, but particularly in technology. Professional or business opportunities can arise at any time. With a good financial plan, you’ll quickly get an overview of your financial health so you can make informed decisions.

A financial plan greatly facilitates the development of your retirement plan and your estate planning. It’s peace of mind for you and your family. 

Danny Goncalves

Wealth management advisor

MYTH 5 : « I don’t need a financial advisor to carry out my plan. »

Of course, there’s some financial planning you need to do on your own, such as thinking through your life plans and personal ambitions, but calling in a qualified professional provides you with specialized knowledge, personalized strategies and experience to help you avoid making mistakes, which can be costly.

When you draw up a financial plan on our own, you can be biased by your emotions. When you do it with an advisor, you get a neutral, objective opinion.

Alexandre Amyot-Clairoux

Wealth management advisor

Now that you know more about the financial plan, are you ready to do it?

Appointments for members

  • Via AccèsD mobile or Web with your advisor
  • By phone at 514-393-9552 or by filling out the following form :

For non-members of the Caisse

  • Open your account online in just 10 minutes.
  • You can also open your account with Mariana Ribac at 514-393-9552, ext. 7157235 or mariana.x.ribac@desjardins.com.
  • You can then continue on to the financial plan with your dedicated wealth management advisor.

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