Wayne Gretzky is arguable the greatest hockey player of all time. He holds countless NHL records.

Most goals in a season, Most assists in a career, most career points, most Hart trophies in a career and the list goes on and on. He is also well known for sharing one of his greatest strategies on the ice. Gretzky once said “I skate to where the puck is going to be, not where it has been.” This statement has become famous because it transcends hockey. It can be applied to almost all facets of our lives.

We’ve all had to pivot and adapt to our new Covid normal. Many of us have struggled due to time off, reduced hours or even job loss. This is our new normal and we simply cannot go back to how we lived our lives prior. That being said, where are you skating? Where is the economy going? How stable is your career? Will your job be replaced by automation? Are you still depending on one income? What does your portfolio look like? Have you invested in disruptive technology like Artificial intelligence? What about electric cars? The state of California recently announced a ban on all gas powered cars as early as 2035. How will this affect your life?

We cannot put the genie back in the bottle, we have to skate to where the puck is going. We all must develop a new way of life where we are anticipating change and making these adjustments well in advance. Let’s examine a few ways of life that I personally feel have become stale dated.

1.       One income

A side hustle is a must. Corporations are always looking to downsize and cut costs. No job is 100% secure. Pandemics, technology or even a recession can easily put you in the unemployment line.  Making money online has never been easier. Becoming an entrepreneur in todays economy is the new norm.


2.       Formal Education

Formal education is losing its steam. Our education system is antiquated and is being reformed as we speak. Kids are learning from home and many students are opting to forgo post secondary education and become solopreneurs. Google now hires programmers without University or College degrees. Why put yourself in major debt when you can start a Youtube channel about gaming and make $4000 a month with little to no upfront cost. Their will always be a place for formal education however a shift is happening.


3.       How We Make Money

Passive income has been around forever however it is the buzz word in most professional circles these days.  Spending time with loved ones, travelling the world and just doing what you want is a dream come true. There are many ways to earn a living without physically being present. The advent of the sharing economy has made this possible. Sites like Airbnb and Turo are great platforms. Why not rent your car or your house and collect a cheque for your efforts. Write an ebook or create a course and collect revenues in perpetuity. What a great way to make a living.


4.       Financial Education

Learning to invest and becoming financial literate is a must. We cannot depend on the banks and large financial institutions to manage our money. Schools have purposely excluded financial literacy classes to keep citizens ignorant. Uneducated citizens spend money frequently and haphazardly which keeps the systems running smooth and makes the rich richer. This keeps the balance of power in check and the economy healthy. Unfortunately for us we become a slave to our jobs and our bills.


5.       Investing

Having a balanced investing strategy is always prudent however the Information Technology sector is the future. In The last twenty years we have seen the evolution of so much technology and we are just getting started. Many of these companies are working on state of the art developments like Autonomous Driving, Artificial Intelligence, Virtual Reality and leisure Space Flight. Having a portion of your investment portfolio invested in disruptive tech can have major upside potential.


The world is changing and we have to change with it. Those of us who change out of necessity will get disposed of rather quickly. It is important to look at the world around us and predict where it’s going and try to arrive their first. The writing is always on the wall, some of us just choose not to read it.

Article By

Peter Simons

Wealth Management Advisor and Insurance Broker
Peter Simons is the CEO and managing director at CPN Financial Services Ltd and an active member of the Ontario College of Teachers.

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