We had a great time at our annual Chess & Fun Summer camp in Oakville this week. It was an awesome week of chess, soccer, baseketball, money lessons for kids and other fun activities for kids aged 5 and 14. This year, we have another week of camp starting on July 28th! At the moment, we only have 10 spots left. So, if you’re looking for Summer camp ideas for your kids, I invite you to sign up and join us. Enjoy this issue where I share valuable ideas on tax and financial planning. Please remember to share this with everyone in your network:

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1. Fun Summer Chess & Fun Camp in Oakville

If you missed our Summer camp this week, don’t worry! We have you covered as we have one more week of fun starting July 28th. If you’re looking for a Summer fun option for your kids, we run a Summer Chess & Fun camp in Oakville. The next and last camp for the year will run from July 28 to August 1, 2025. Our Summer camp is fun with chess, soccer, basketball, money management for kids, and other fun activities. Kids come out of this camp equipped with new skills, particularly, the money skills that many kids lack. At the end of the camp, in addition to elevating their knowledge of chess, your kids will know the difference between assets and liabilities; good debt and bad debt; assets that grow in value and assets that depreciate in value; the importance of saving, and many more. To learn more about our Summer Camp and to register, click here.

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2. Why More Money Will Not Solve Your Money Problems

Not too long ago, in an email shared by Rob Minton, one of my mentors, he concluded that…

Money problems ALWAYS flow from thinking problems.

I thought this was an interesting conclusion as it directly relates to our money mindset. Rob goes on to share how we see this in real life by studying lottery winners. Within a short period of time, they go from money problems to having lots of money and then to having money problems again.

So, more money usually doesn’t solve money problems. To solve money problems you have to change how you think about money. This comes down to your money mindset, which is the subconscious feelings and thoughts we develop towards money from our life experiences. A money mindset is your unique and individual set of core beliefs about money and how money works in the world. It is your overriding attitude about money. It shapes what you believe you can and cannot do with money, how much money you believe you’re allowed, entitled, and able to earn, how much you can and should spend, the way you utilize debt, how much money you give away, and your ability to invest with confidence and success. When it comes to money mindset, there are two extremes:

• The Scarcity Mindset, which will keep you stressed, anxious, and can result in a lack of generosity; and
• The Abundance mindset, that can keep you calm, positive, optimistic and more generous with your money

Most of us will fall in between these two extremes. It is important to know where you stand and to begin to work to develop the right money mindset. You can use this FREE resource to take a 2-minute money mindset test to give you a sense of your current mindset when it comes to money. So far, 44% of those that have taken this test have an abundant money mindset. What about you? Take the test here.

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3. The Top Ten Reasons Why You Pay Too Much in Taxes

Whether you like it or not, taxes affect all of us. In fact, it is probably your biggest household expense. Yet, most people do nothing to manage their taxes. In this article, I discuss the top 10 reasons why you may be paying too much in taxes. Reasons ranging from lack of periodic tax planning, lack of optimization with family members, and a lack of basic knowledge of our Canadian tax laws. You can read the full article here.

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4. Twenty Quotes To Inspire You To Invest In Yourself

I believe that the best investment you can ever make is an investment in yourself. If you realize that you’re the #1 asset in anything you do, then you will begin to prioritize investment in yourself.

And this is why.

If you’re employed, you were for a reason — for the special skill you possess. So you must keep investing in yourself to stay on top of your game if you want to keep getting promoted and keep getting higher bonuses.

If you own a business, you are the business. You make all the critical decisions. You hire the best people. You are the top sales and marketing guru in your business. So, if you want to keep generating higher and higher income, you have to stay on top of your business by investing in yourself.

If you don’t invest in yourself, no one will. You invest in yourself by:

• Learning and growing in your knowledge in critical areas.
• Learning how to learn.
• Hiring coaches and mentors to collapse time and avoid costly mistakes.
• Growing in your spirituality.
• Mastering the mindset of successful people.
• Mastering how to effectively build relationships and how to work with people.
• Learning how to build communities and how to build a movement.

It is suggested that you invest at least 10% of your gross earnings in yourself. Often times, if done correctly, this investment will yield rewards that are multiple times what you invested. That is the power of investing in yourself. In this article, I share 20 quotes to inspire you to invest in yourself. Read the full article here.

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5. The Tax-Efficient Path To Creating Wealth

I strongly believe that you don’t need a 6-figure salary to create financial freedom. And for this reason, I believe financial freedom is attainable for most people. However, only few achieve it. Why? It’s because most people lack a fundamental knowledge and a proven path to follow. This is why I wrote the book, Tax-Efficient Wealth, to provide you with an easy-to-implement blueprint that will enable you to build and grow your wealth in a tax-efficient manner. After reading this book:

• You will have a solid knowledge of the key wealth drivers to build wealth and uncover the money mindset required to win the money game.
• You will have a blueprint and a step-by-step plan to start your journey on building and growing your wealth tax-efficiently.
• You will save taxes, have more money, and have the confidence to shatter all your money worries for life.

You can grab a copy of the book here and in this short video, I share what the tax-efficient path to wealth is.