ABOUT US
"A comprehensive wealth creation strategy is integral to a sound financial plan. Our plans are constructed with wealth creation efficiency in mind"
- Mitch McLean
Discuss Wealth Creation
Wealth creation is the process of building and growing your financial assets over time to achieve long-term financial security and freedom. It involves analyzing your financial situation, identifying your financial goals, and implementing strategies to help you achieve those goals.
Wealth creation is typically performed by individuals, businesses, and financial advisors and involves keeping up to date with changes in financial markets, investment opportunities, and regulations.
The goal of wealth creation is to ensure that you have enough financial resources to live the lifestyle you desire, while minimizing your financial risks. Optimizing your wealth creation through a comprehensive approach involves utilizing various financial strategies to ensure all elements of your financial plan work together to provide you with the best chance of achieving your financial goals.
Get in touch
Financial Advisor
Mitch McLean is a seasoned financial advisor based in Ottawa with over 16 years of experience. He provides financial planning and wealth creation services to clients throughout the entire province of Ontario, including Ottawa, Toronto, Mississauga, Brampton, Hamilton, Markham, Vaughan, and Kitchener.
If you're looking to schedule a consultation with Mitch to discuss your personal finance and wealth creation goals, simply reach out to him by using the contact information provided below. You can also connect with him on LinkedIn, Twitter and Facebook!
Schedule An Appointment
Working with a financial advisor who has experience in wealth creation planning can be a valuable resource for developing and implementing strategies to achieve your financial goals.
A financial advisor can provide personalized advice and guidance on financial planning, investment management, and tax strategies.
Contact Us
Schedule An Appointment
"“The Wealthy Invest Differently”
-Mitch McLean
Evaluating your financial situation is the first step in our wealth creation process. This involves analyzing your current assets, liabilities, income, and expenses to understand your financial position. We also identify your short-term and long-term financial goals and assess your risk tolerance. By understanding your unique financial situation and goals, we can develop a customized wealth creation plan that fits your individual needs.
Designing a wealth creation plan that meets your needs involves selecting the right types of investments and determining the appropriate asset allocation. Our wealth creation services include a comprehensive analysis of your needs and a review of investment products to help you choose the right investment strategy.
Implementing your wealth creation plan involves putting your investment strategy into action. This includes opening investment accounts, selecting investments, and ensuring that your portfolio is well-diversified.
Our wealth creation services include ongoing monitoring and review of your portfolio to ensure that it continues to meet your needs.
At Mitch McLean Wealth Creation, we are committed to providing our clients with the highest level of service and expertise in wealth creation. Contact us today to schedule a consultation and start your journey towards financial success.
For most individuals, wealth creation is not about luck, it is by design. When we observe the wealthiest Canadians, we can see they have successfully implemented the 5 Laws of Wealth Creation.
The first law of wealth creation is to invest in a few high-quality businesses that have the potential for long-term growth and profitability. This requires careful analysis of the company's financial health, ownership, management style, competitive advantages, and the focus of the board.
The second law is to have a thorough understanding of the businesses you invest in. This means conducting extensive research and analysis to gain a deep knowledge of the industry, the company's operations, financial statements, and competitive landscape.
The third law is to ensure that the businesses you invest in operate in strong long-term growth industries. This means looking for industries with sustainable demand, innovation, and growth potential, and avoiding those with declining demand, increasing competition, or regulatory hurdles.
The fourth law is to invest only in businesses that have borrowed prudently to maximize returns. This means investing in businesses that are not over burdened with debt, they have used debt prudently to grow the business without taking unnecessary risk.
The fifth law is to hold these businesses for the long run. Wealth creation is a long-term process, and successful investors know that holding high-quality businesses for the long run is key to building wealth over time. This means avoiding short-term market fluctuations, and focusing on the long-term growth and profitability potential of your investments.
By following these five laws, you can increase your chances of building long-term wealth and achieving financial success.
Let's Chat!
Mitch McLean is an Ottawa based financial advisor offering wealth creation services across the entire province of Ontario including Ottawa, Toronto , Mississauga , Brampton , Hamilton, Markham, Vaughan and Kitchener .
If you are interested in scheduling a call with Mitch to discuss your financial planning and wealth creation needs, contact him below!
Get in touch
Wealth creation refers to the process of building and increasing one's net worth through various financial strategies, such as investing, saving, and budgeting.
Insurance premiums are generally not tax-deductible in Canada, except for specific cases such as medical, disability, critical illness, and long-term care insurance premiums, under certain conditions. It is advisable to consult a tax professional or the CRA for specific guidance.
The types of insurance coverage you should consider depend on your unique needs and circumstances. Some common types of insurance coverage include life insurance, disability insurance, critical illness insurance, and long-term care insurance.
The amount of insurance coverage you need depends on various factors such as your income, expenses, debts, and family situation. A financial advisor can help you determine the appropriate amount of coverage for your individual needs.
Insurance planning is important because it helps you protect your financial wellbeing by managing your risk and ensuring that you have the right types and amounts of insurance coverage in place.
It is recommended to review your insurance coverage on an annual basis, or whenever there is a significant change in your circumstances, such as a marriage, divorce, or the birth of a child.
Yes you can change coverage, however if you require additional insurance coverage you may have to complete the underwriting process. To decrease insurance coverage one may not require the underwriting process.
© 2022 Mitch McleanKnow Your Advisor: IIROC Advisor Report ı Read Disclaimers
OUR APPROACH
OUR SERVICES
INVESTING
PLANNING
NEWS & EVENTS
Subscribe to our Newsletter
ABOUT US
CONTACT US
CLIENT LOGIN
/mitch-mclean---mandeville/images/mandeville_logo_web-ID-a252d2bc-03a2-4361-9ee9-6b68bb6addf0.png){kind=logo}
/mitch-mclean---mandeville/images/image-ID-173ca183-88cc-407d-81bd-2818e6574046.jpeg)