Based on the book Cash Cows, Pigs and Jackpots
The previously accepted method of building wealth doesn’t work anymore. The truth when it comes to personal finances is simple: People’s quest to secure a comfortable retirement often ends up making them poor and others rich.
The old way to get wealthy was to acquire assets like real estate, stocks, and mutual funds, often using debt, and then sit back and let time grow your net worth.
But that strategy is deeply flawed and is sending many people to the poor house. That’s because it ignores the one basic principle that overrides any wealth-building strategy that anyone who is truly rich knows: What we should really be focused on is not getting rich, but plain old cash flow.
This course is designed to show you the dangers that exist with a net worth focus. That’s because the typical net worth statement is a very misleading measure of wealth that often leads to major problems. We’ll delve into a much better strategy – The Cash Cow Strategy – that focuses on the cash flow implications of everything you acquire from now on rather than where they go on a net worth statement. The strategy is so simple you could explain it to your kids and friends who aren’t good with money.
You will see a demonstration of a free spreadsheet that is included with the course, the “House Rent versus Buy Analyzer”.
Writer, Trainer, On-demand Course Developer and Acclaimed Author
David Trahair, CPA, CA, is an author, trainer, and eLearning developer who creates on-demand video courses for CPAs across Canada. His courses cover topics including personal finance, ethics, AI, and Microsoft Excel. David is also the author of six personal finance books, three of which are national bestsellers. Through his firm, he helps CPAs build practical skills through engaging, self-paced learning.
Provincial regulators of CPAs in Canada do not require that independent providers of CPD be approved to offer courses. Instead, individual CPAs are responsible for assessing whether a CPD activity meets their requirements, and may take activities from any source provided those requirements are met.
Every course offered on LearnFormula is delivered by a qualified subject matter expert or learning organization, and advances learning objectives that are relevant to the responsibilities or professional competencies of Canadian CPAs. All activities on LearnFormula are quantifiable in terms of hours, and are also verifiable, in that users receive documented evidence of their attendance via a certificate of completion after finishing a course (and this certificate is stored by LearnFormula indefinitely). Nearly 100,000 Canadian CPAs successfully satisfy their CPD requirements via LearnFormula on an annual basis.
