Brian East conducts a seminar. Photo by Bill Tremblay, Special to BayToday.ca. Making a million dollars can be as easy as buying one less cup of coffee a day.
Brian East conducts a seminar. Photo by Bill Tremblay, Special to BayToday.ca.
Making a million dollars can be as easy as buying one less cup of coffee a day.
According to Brian East, Canadore business student and former member of the Canadian forces, the key to making this million is through proper planning and saving financially.
East explained that investing early is most important. If a person starts investing $25 a month when they are 21, and stop when they are 30, they can expect to earn nearly $100, 000 in interest by the time they are 65.
“That’s one skipped pizza a month,” East said.
However, if a person waits until the age of 30 to invest $25 a month, and keeps investing until the age of 65, they could expect only $70,000 earned in interest despite the additional 26 years and $7,500 of investment.
East believes that financial planning is like going on a road trip.
“You don’t just jump in the car and start driving,” East said.
“You pull out a map and look where your going.”
East explained that few people will look where they’re going, when it comes to their finances.
“96 per cent of people don’t look ahead in life,” East said.
“That’s a conservative estimate.”
East believes that the right financial plan can result in early retirement.
However, avoiding debt is equally important as the right plan.
East explained that companies like to reel people into debt at an early age, which forces people to work for most of their life to pay off the debt.
“You become a slave to your job,” East explained.
The average Canadian owes over $130,000 from their mortgage, vehicle and student loans, and other types of credit.
“They have you as their bitch for the rest of your life,” East said.
“But freedom is absolutely possible.”
East will be holding four seminars in the Weaver auditorium at Nipissing University to explain his financial planning methods. All seminars are free with no catch or sales. Two of the seminars are women only, since statistically they live longer then men.
The seminars for women are on March 17th, 12 - 2 p.m., and March 29, 8-10 p.m.
The seminars for all young adults are on March 17th , 2-4 p.m. and March 29th, 6-8p.m.
For more information visit www.investinmyfuture.com
