The Three Pillars of Wealth

Expense Management
Efforts to increase income and invest are futile if you can't control spending.

Invest
Use compound growth to build long term wealth. Learn about index funds, risk, asset allocation, taxes and Canadian tax sheltered accounts.

Increase Income
Increase your ability to solve problems for others, to boost income and wellbeing.
- Learn about forced savings to manage your money with maximum simplicity.
- Conduct an expense audit to understand where your money is going.
- Shelter, Transport and Food account for over 50% of US and Canadian spending. Spend efforts here.
- Evaluate renting versus owning shelter – the largest financial decision most make.
- Learn about the Debt Avalanche – The Quickest Way to Pay Down Debt, according to math.
- Understand low-cost Index Funds. They will statistically outperform stock selection and professional mutual fund managers.
- Understand the difference between decisions and outcomes.
- Learn about human biases and risk to ensure your investments match your unique risk tolerance.
- Learn about How the Tax-Free Savings Account (TFSA) Works so you can generate tax-free investment income.
- Should I use the TFSA, RRSP, or taxable account for my investments? Use this calculator to better understand how the accounts affect after-tax wealth.
- Invest in your knowledge, skills and habits to improve your ability to solve problems.
- Understand the difference between scalable and non-scalable income.
- Improve investment income from Pillar 2.
- Understand the progressive tax system and how taxes apply to investment income.
- Develop a “Side Hustle” to diversify and increase income streams.
The Personal Finance Formula


Core Concepts & Values
A few core concepts and values are laced into the three pillars of wealth. I love concepts because they apply across a variety of personal finance situations.
That’s great, because personal finance is personal. As you can see, personal finance is deeper than money.
Here are some resources:
