Time to Bee Money Simple

As I listen more and more to complaints about the complex nature of money, it has become evident that we all need a way to make money simple.

Our goals are the same in most cases. First, to earn enough money to spend less than we bring each week. If you are doing that already, congratulations, you are rich. That is what it means to be rich. It’s not about making a lot of money but making more than you spend.

You can do one of two things. Make more money and keep your spending the same or make the same amount of money and spend less.

Today, that seems like a long-lost goal for many of us. The more we make if we are lucky enough to do so, it seems the more we spend. I’ve watched many people over my 40 years of investing, increase their earnings and income substantially, but sadly increase their spending by even more. Bee money simple will help us learn how not to do that. 

When I started this newsletter and the podcast, I talked a lot about investing. But I learned very quickly that as soon as most people hear that word, they tune out to learning anymore.

Investing sounds like understanding math, and most don’t like math.

Investing also sounds like you need a lot of money. Most of us feel like we can barely pay our bills, so how can we start thinking about investing?

The second part with money has to do with becoming wealthy and your financial freedom. Every person in Canada, The United States, Europe, or industrialized society can become wealthy.  Being wealthy means you can wake up every morning and choose how you spend every one of those 86,400 seconds that you have. It means that you have enough passive (you don’t have to work for it) income to bring in more money than you spend.

Bee Money Simple is about taking all those problematic concepts and creating some simple habits and a general understanding of how money works.

Here’s a quick example.

If you made $50,000 a year in eligible dividends in Canada and lived in Ontario, how much taxes would you pay on those earnings? The answer is $600. The tax system is designed to reward you for getting dividends from publicly traded stocks. Why didn’t they teach you this in high school? There could be many reasons, but I can tell you that if you made $50,000 working as an employee, you would pay over $10,000 in taxes. 

In this newsletter, I’ll work harder so that you can build up your money knowledge, get rich and achieve wealth and financial freedom. I will also write in response to any questions you may want to send on money. Remember, I’m not a financial planner or income tax expert. I’ll give you my two cents and tell you what I would do in your situation. I will also continue to share what I am doing in this newsletter regarding money and investing.

I appreciate your understanding of the name change for this newsletter. To send me a question to address here, send it directly to me at [email protected] 

Bee well. Hank Svec