Achieving Total Financial Freedom: A Comprehensive Guide for Canadians
Achieving Total Financial Freedom: A Comprehensive Guide for Canadians
Introduction: The Journey to Financial Freedom
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Financial freedom isn’t a far-off dream—it’s a goal within your reach. Whether you’re an executive, a small business owner, or a hard-working individual, you have the power to take control of your financial future irrespective of your current financial situation.
This article will introduce you to the foundational principles of achieving financial independence and provide actionable steps you can take today to start your journey.
At Hexavision, we believe financial freedom begins with clarity— understanding your current situation and knowing where you want to go.
Our Framework and free mentorship program is designed to help you navigate this journey with confidence, guiding you through the necessary knowledge and steps toward securing a prosperous, financially independent future.
Watch the short 2 minute video and read on:
Achieving financial freedom is not just about accumulating wealth; it's about having the power to make life decisions without being constrained by time and money.
For many Canadians, this journey starts with a simple yet very profound realization: a deep desire to break free from want is not working and deep desire to regain time and money freedom.
Financial freedom is not a distant dream, but a well-executed plan. At Hexavision, we understand this, and that’s why we’ve developed a robust, project-management approach to financial management and retirement planning using our proprietary Hexavisionary Framework. This framework is built on an entrepreneurial mindset, blending timeless wisdom and proven financial strategies with precise, goal-oriented methods.
Our clients are everyday hardworking professionals—executives, entrepreneurs, and self-employed individuals—who are serious about building sustainable wealth and securing their future. This guide will not only show you how to start but also give you actionable steps and tools to help you along the way.
This guide is not suitable for anyone who is looking for shortcuts to achieve success. Or looking to outsmart the system and get a quick results. If you are willing to unlearn what is not working for you and re-learn the new ways of how to achieve the dreams and goals than this guide is for you. In simple way - put on your learning hat and be prepare to be coachable as well as consistent. In simple words - No action, No result.
Understanding Total Financial Freedom
Financial freedom isn't just the absence of debt or the luxury to spend; it’s the ability to live life on your terms—without constantly worrying about finances.
In short, it means that all your bills will get paid even if you do not go to work for remainder of your life. Which in real terms means that doing active work (having to go to work to make money) is a choice and not a compelling requirement as you have accumulated enough savings, investments, and passive income to fund your current lifestyle and more, achieve your dreams, and weather financial storms as well as pass on substantial wealth to the next generation tax free.
But financial freedom is a journey, not a single destination. It starts with understanding where you are now financially and then mapping out a plan to get to where you want to be. Our Hexavisionary approach breaks this journey down into clear, manageable steps, just like a project management.
Who is this for?
Our exclusive Hexavisionary Framework was meticulously crafted to cater to hard-working Canadians, particularly those in demanding careers or running their own businesses.
It is designed for individuals with significant responsibilities, whose families rely on their income to cover mortgage costs and living expenses.
This framework is for anyone who desires to rapidly increase their savings and net worth, retire early and affluent, all without stringent budgeting. It is for those who want to continue enjoying vacations, treating their kids, and savoring quality family time.
It is tailored for high-income Canadian professionals seeking to maximize tax refunds, grow their savings and investments to compound so your finances are secure, ensuring financial security regardless of market fluctuations. With our framework, you can take pride in watching your wealth grow year after year.
We will reveal strategies to leverage good debt for achieving total financial freedom, retiring early and wealthy, all without risk. You will also learn how to grow your savings without working additional hours, taking extra jobs, or sacrificing the things you love in life.
It is for anyone, who wants to quickly increase your savings, networth, retire early and wealthy without strict budgeting, so they can still take vacations, treat their kids, and enjoy the quality time together as a family.
Learn more about - What Problem Do We Solve And for Who?
A Proven Framework for Financial Independence and Security: The Hexavisionary Framework
The framework is built on three universal rules of money, the five pillars of investments, and a six-step approach to achieving financial independence.
You will exactly know where to put your hard-earned money, so that you get maximum returns, with minimum risk, and build your wealth three times faster than traditional methods.
This framework guides you on how to keep more of what you make, so you are not sacrificing your long-term financial security and you can finally afford those important events, or the home makeover, without having to work harder. It will also help you on how you can also generate a tax-efficient pension for a lifetime, irrespective of your current Financial situation.
We are empowering Canadians with Timeless Financial Wisdom and Modern financial Solutions so that you can achieve the outcome that only 9% of canadians achieve according to David Voth in his book 10 Secrets of CRA.
What you need to do?
There are 5 key shifts you must make to enjoy total financial freedom in your life so that you can do what you really love. I’m going to walk you through all 5 of them on this knowledge sharing session.
You start with a deep desire to change the financial destiny, then you Dream, Build a roadmap, Take decisive action, and Believe wholeheartedly that you can achieve the goals three times faster than traditional methods. It is about building your dream life and shaping a brighter financial future for the generations to come.
Then you become a hexavisionary :
The NEW GROUP OF CANADIANS
SMARTER. WISER. PASSIONATE. AND FREE!
The Modern way to achieve Financial Freedom
The Old Way: Traditional Reliance on Employers and Government Benefits
Historically, the road to retirement was heavily dependent on a simpler formula: work more hours, save what you can, and rely on defined pension benefits from employers and government programs like the Canadian Pension Plan.
The responsibility for financial security in retirement lay mostly with employers, who guaranteed a lifetime of pension payments through defined pension plans.
Building equity in a home and investing in RRSPs were seen as the primary routes to a stable future. The common advice was to defer taxes with RRSPs and trust that you'd be taxed less in retirement. Saving diligently was considered enough, while additional vehicles for tax advantages, like TFSAs, were limited in scope. The overall mindset was reactive rather than proactive, and the assumption was that promotions and salary increases would eventually lead to enough savings for retirement.
The New Way: Taking Ownership of Your Financial Future
Today, the financial landscape has shifted dramatically, financial industry and taxation codes have changed dramatically for an average person who may not be in expert in the field to keep track of all the changes and advancement in this area of expertise.
Defined pension plans have become increasingly rare, with both employers and the government moving away from these guaranteed benefits toward defined contribution plans as it is feasible to pay guaranteed amount each month adjusted for inflations to the current retirees that live longer than previous generations.
This shift places the responsibility of securing a desired retirement outcome squarely on the individual rather than the employer. Instead of passively waiting for promotions or hoping for financial security through traditional pensions, individual Canadians are required to adopt more strategic, active approaches to achieve meaningful outcome during retirement.
This shift places the responsibility of securing a desired retirement outcome squarely on the individual rather than the employer. Instead of passively waiting for promotions or hoping for financial security through traditional pensions, individual Canadians are required to adopt more strategic, active approaches to achieve meaningful outcome during retirement.
Wealth multiplication through the power of compounding, efficient tax strategies to ensure you pay the right amount of tax (rather than simply deferring), and keeping more of what you earn—particularly by managing the two largest expenses of mortgage interest payments and taxes — are critical.
Building wealth today involves holistic planning, focusing not just on accumulation but also on smart decumulation strategies to avoid outliving your savings.
Canadians are recognizing the need for a more diversified portfolio and personalized planning, understanding that financial freedom requires proactive steps at every stage of their lives.
Three Universal Rules of Money: The immutable laws that transforms your resources
Tap into the rhythm of wealth with three immutable laws. By understanding and applying these Three Universal Laws of Money, you'll navigate the financial landscape with confidence and rise above conventional limits by understanding:
Where to put your money
Where to look for results
What results to look for
TAP INTO THE MOST POWERFUL FORCE IN THE UNIVERSE - THE COMPOUNDING (ALSO CALLED THE Law OF 72)
We overestimate what we can do in short time and always underestimate what we can do in 5-10 years. Those who understand how this rule works, earns compounding and those who does not understand this rule of how money works they pay it.
The $10,000 invested at age 29 with the compounding growth of 4% each Year becomes $ 40,000 at age 65. Where as the same amount and same time if the growth is 12% each year the same investments becomes $640,000. The whooping difference of $600,000.
Many Canadians are unconsciously losing opportunities and growth potential when saving and investing their money, mainly due to lack of awareness of how money works and those who are suppose to take care of retail investors are taking care of their employers (the institutions) that they work for, as their paycheck depends on not understanding the problem you will face.
I want to help you understand this crucial concept and help you eliminate paying compounding interest payments in all your debt and help you earn compounding money on not only your own savings instead how you can make your money works multiple times, so that you eliminate the money that you may be leaking right now unknowingly and unnecessarily.
NEVER LOSE THE PRINCIPAL INVESTED BY USING THE PRINCIPAL PROTECTION INSTRUMENTS
Money grows in 3 Ways,
Fixed Growth - The kind of growth you get in GICs, it is stable and slow, guaranteed growth. Not enough to beat the inflation and also taxed at the highest rate due to ordinary income considered by the CRA.
Variable Growth - The kind of growth that varies with the market conditions. One very good this about this kind of growth is that you can make a lot of money in very short time. On the other hand, the negative side of this kind of Variable growth is that you can lose all or most of your money in a short time as well.
Most of what is offered to the retail investor is either of the above two, sacrifice Growth for safety or Choose safety and Sacrifice Growth.
the third way - there is no official word for it , for lack of a proper name by the industry - I called it (named it) Indexed Growth (do not confuse with other terms).
If this option is available why your current advisor at the bank or the investment company never talk about it. First of all the institutions that they work for does not train them on the product and services that they can not offer.
Second of all, this kind of principal protected growth can only be offered under the insurance contracts and not by the investment companies and the Banks. The insurance companies does not work directly with the consumers and does not promote these kind of complex advanced wealth creation solutions and services to the retail investors.
See the image below to understand what I am talking about, if you have that kind of investment in your portfolio.
PAY ONLY THE RIGHT AMOUNT OF TAX -THE LESS YOU KNOW ABOUT TAXES, THE MORE YOU PAY
I have explained about taxes in below chapter under five pillars of investment.
The Five Pillars of Investments for Canadians:
There are only 5 Accounts Types or Vehicles that you can use to manage and invest your money including your real estate investments. These investment Vehicles determines how much you will end up keeping and how much belongs to the CRA.
A good tax Advantaged investment can give you the opportunity to watch your invested money compound and grow while delaying or eliminating the tax that might have to be paid if it were invested outside of the tax shelter.
A complete understanding of the investment options and advice from a competent advisor is a must to develop a advanced solution that is tailored to give you the desired outcome.
-Diversification: Spread your investments across different asset classes.
- Tax-Efficient Investments: Use registered accounts like RRSPs and TFSAs.
- Risk Management: Balance risk by understanding your investment horizon and risk tolerance.
- Wealth Conservation: Keep more of what you earn by planning for taxes, fees, and inflation.
- Legacy Building: Ensure your wealth passes on through sound estate planning.
Six Action Steps to Achieve Financial Freedom:
Your future financial security depends on how efficiently your savings work today. These meticulously crafted sequential steps forms the bedrock of your journey. Each step propel you towards the pinnacle of Total Financial Freedom. Read on for The Six Steps To Retire Early & Stay Wealthy:.
Setting the Vision and the Goal:
Once you have a Deep Desire to Change the Financial Future and take charge of your money at work in other words - when you open your mind to vision of liberation, you tap into infinite potential. Only then You can define anything, create anything, and build anything.
Begin by defining your goals. What does financial freedom look like for you? Whether it's early retirement, travel, or philanthropy, you start with a dream and believe you can achieve it.
Step 1: The foundation of financial freedom begins with Mastering your Financial Flow and Tax, encompassing income, expenditure, and tax optimization. By assessing Your Current Financial Position: Know your net worth, savings rate, and current investment performance as well as how much investment growth do you need achieve your financial Security, freedom and total financial numbers. Those numbers become your milestones to be monitored and measured to stay on track to achieving the goals.
Click here to read the knowledge article and download the worksheet
Step 2: Effectively managing and strategically handling debts is crucial in order to attain financial security and freedom. If we depend on the money left after paying Canadian Taxes and Mortgage Payments will not allow you to reach the goals of financial security and freedom. Debt Harmony Tactics focus on optimizing debt structures for financial well-being by eliminating the Bad Debt (that cost you more money to borrow than you can grow eg: Credit Card, Personal Line of Credits) and embrace the Good Debt (that cost you less to use other people's money and grow more than the cost after tax considerations).
Build a Financial Plan: Use a roadmap that includes emergency funds, debt repayment strategies, and an investment plan.
Click here to read the knowledge base article on Debt Harmony Tactics
Step 3: Protection of valuable assets and the ability to generate income is paramount. Guardianship of Assets and Wealth involves implementing measures to safeguard assets and ensure ongoing financial viability. The savings and investments need to last as long as we live and beyond, many Canadians fail not because they did not do the right stuff, but they did not do it in right sequence that is required and failed to achieve the outcome.
Click here to read the knowledge base article article on Guardianship of Assets.
Step 4: Saving for both emergencies and opportunities is key. The Resilient Reserves Fund ensures a robust financial cushion for unexpected challenges and potential growth opportunities. Learning from the past many decades of the financial market history, the Cash (Liquidity) is King in case of pressing times. Our framework take care of this to ensure you are able to storm out the most difficult economic situations just like T2K, 2008, 9/11 or Pandemic crisis.
Click here to read the knowledge base article article on Resilient Reserve Fund
Step 5: Wealth can not be earned. it can only be created by those who understand how to build it from ground up. Building wealth requires a clear strategy.
The Wealth Creation Framework outlines a personalized plan for systematic wealth accumulation over time, ensuring a path toward sustained financial growth. Monitor and Rebalance Regularly: Every six months, reassess and adjust your portfolio based on market conditions and personal goals. Implement Passive Income Strategies: Establish multiple income streams through personal pensions, dividends, rental income, or side businesses.
Step 6: Build Your Legacy: Estate planning is vital for our old age income even if we live up to age 103 as well as the seamless transfer of wealth to future generations. Legacy Fortress Planning ensures that your financial legacy is secure and aligns with your wishes. By Incorporating the combination of insurances, estate planning, and a long-term tax strategy into your current financial plan.
Financial Security and Retirement Planning: A Project with a Defined Outcome
At Hexavision, we view financial freedom and retirement planning not as a vague life stage but as a well-defined project—with a specific goal to achieve ( income goal), a set timeline (Desired retirement age), and a fixed budget (Current Cash flow and investments). Like any other successful project planning, retirement requires proper planning, execution, and continuous management to achieve the desired outcome within the time limit.
Our founder Kanwaljit (Sunny) Kochar is a 3rd generation entrepreneur, a Certified Project Manager (PMP) and Certified Business Analyst (CBAP), and licensed advisor. His structured, entrepreneurial project management approach brings clarity and efficiency to retirement planning and management.
Meet the real people who are here to help you achieve financial freedom.
Key Considerations for Retirement & Common Mistakes to Avoid:
- Desired Lifestyle: What do you want your retirement to look like? Travel? Family time? A second career?
- Timeline: When do you want to retire, and how long do you expect to be retired?
- Budget: Financial freedom and retirement is not what age, it about "How much" will you need to maintain your desired lifestyle in retirement? Include not only living expenses but healthcare, hobbies, and inflation.
Despite best intentions, many Canadians make critical errors in their quest for financial freedom. Here are some common mistakes that I see in my day to day life that you must try to avoid:
1. Failing to Plan for decumulation and the Old Age Income: One of the biggest oversights is not accounting for the decumulation phase of retirement. Most people focus on accumulating wealth but fail to strategically draw down those funds. How you withdraw your savings and investments during your retired years will impact how comfortably you can live in retirement. If you solely depend on savings inside RRSPs than be prepared to pay regular income tax as well.
2. Relying Solely on Product-Driven Advice: Too often, Canadians rely on financial advice from professionals trained by institutions to sell products rather than deliver holistic solutions. Our approach is outcome-driven, not product-driven, which is critical in achieving total financial freedom.
3. Ignoring the Importance of Passive Assured Income: While investing in growth assets is crucial, don’t forget to establish reliable streams of passive assured income. Having guaranteed income for a life-time from various sources during later years of retirement ensures peace of mind and financial stability.
4. Not Rebalancing Investments Regularly: The retail investors are advised to buy and hold the investments for the many years. It may be good strategy for many as they lack the knowledge and expertise to deal with the investments themself.
If you fail to allocate each dollar an specific assignment (work) to do and take stock of how it had done (rebalance the portfolio) every six months, you will be missing out on opportunities and capture gains.
Download the comprehensive retirement income guidebook for Canadians.
Metrics & Benchmarks: How to Know You’re on Track
There are three kind of people- Spenders,Savers and wealth creators. To know whether you're progressing toward financial freedom, there are specific benchmarks you can track:
Savings-to-Income Ratio: Aim to save 15-20% of your income for long-term goals this makes you a saver. If you're not there yet, start with 5-10% and gradually increase. If you are unable to save at all, then you are a spender.
Passive Income Targets: Set a goal for your passive income to cover at least 50-70% of your monthly living expenses in retirement as financial security, 100% of your current expenses as financial freedom and 3X your current expense as Total Financial Freedom goal. This will allow you to become a wealth creator with the help of a mentor.
Net Worth Growth: Your net worth should grow steadily over time, ideally increasing by 6-10% per year compounding annually in the most tax efficient manner, while protecting from market downturns and allowing to keep the growth securely.
Our All-weather Portfolio, following the 4 Bucket investment system allows you to take advantage of changing economic situations allowing you to invest more when the market is down and reap the growth when the market is up.
Debt-Free Milestone: Make sure you have a clear plan to manage debt. Not all debt are bad, understanding the managing debt will help you achieve your goals way faster than any other methods. Paying off all high-interest debt (like credit card debt, Personal Line of Credits etc.) before saving and investing is a top priority.
Tools & Resources to Accelerate Your Journey
At Hexavision, we provide free tools and resources to help you achieve your financial goals. These include:
- Retirement Calculators: Estimate how much you’ll need for retirement and whether you're on track. Check Financial Calculators and Tools link here.
- Investment Growth Tools: See how your investments are performing and what adjustments you may need to make. Use the same link above to check all tools.
- Financial Planning Guides: Step-by-step guides that simplify financial decision-making. The 5-Phase PROCESS to Become a Hexavisionary and TRANSFORM generational financial freedom check here to learn more.
You can access and download these tools directly from our website, or reach out to us for personalized assistance. We believe in empowering our clients by giving them the right resources to succeed.
Real Success Stories: Hexavision in Action
Many of our clients have successfully used the Hexavisionary Framework to achieve their financial goals. For example, one client, a 45-year-old executive, was able to retire early with $2 million in investments, while another client, a self-employed consultant, used our tax strategies to save over $100,000 in retirement.
Know more about our client success stories on our web page : True in-person Testimonials Of HexaVision Clients
