Dustin Servess is the guy who helps you be responsible for your future YET, live more of your life NOW. […]


Dustin Servess is the guy who helps you be responsible for your future YET, live more of your life NOW.

That may mean quarterbacking you and your spouse or business partner(s) to achieve a goal. I make that decision making process easier.

I use my own money to invest along side my clients. I research, I experiment, I perform deep due diligence, I ask hard questions and I am focused on living my best lifestyle everyday. That is what gets me up in the morning.

Business owners and successful families get the most value from our high touch, personalized and relationship based offering.

Adventure is a word close to my heart, whether designing and completing a backcountry mission or going on a financial journey like buying a certain investment… I will never shy away from the learning, the people connections I meet and sharing that result good or bad with my clients.

Episode Highlights Here:



You don’t want to take any of your corporation because then you have to pay tax. So this is the trap that I got into in the hamster wheel.



Well, let’s apply that now to finding your spinning accelerator. So Dustin, what is the number one secret to finding your spinning accelerator?



So the common structure that we would work with or you know, listener, you may have an operating company or you might have a business, and you might have a holding company, and you might have real estate or you might have stocks. And your business might be doing well. Back to my original conversation about the Harvard Maria, the start, is that you could be saving a lot. And so if you’re working evenings or weekends, you’re saving a lot. And you think, is this it? Is this like my track for the next 25 years? And so the spending accelerator is a tool that we use to say, Okay, you have let’s, you know, recent file is a real estate agent. So this real estate agent is not in my hometown, in a province over but this real estate agent has extra money, and let’s freeze the number, let’s say it’s up to 30,000, they make seven plus two easy, 720,000 a year. They spend, say 20,000 of that for their lifestyle, and they pay some tax. I don’t know if my math is even right, but let’s just say they have 30,000 left. And so every year they save 360,000. And so you don’t want to take any of your corporation because then you have to pay tax. So this is the trap that I got into in the hamster wheel where you know, my wife, my wife would say, hey, you know, we NSF on our personal bank account, the bank is saying, hey, like we’re overdrawn. And I’ll say oops, I don’t want to take any more of our company, because we’re going to pay tax on that. So I’m going to run our finances so lean that if we buy a stroller, our finances will start whack, you know. So starting with you need to note your spending is in your monthly cash flow. So start Step one, where do we spend our money. If you do this properly, you should be able to at the end of the month, so at the end of it, we’re at the start of the month, now the end of December, I probably had $400 in my checking account. So you pay yourself a certain amount at the start of the month, the middle of the month, and then it draws down over the month, and you should be really close. And maybe you can have a bigger buffer, maybe you say it’s too. I’m bad because if there’s money in the bank, I’ll buy an extra set of gloves for snowmobiling, or whatever. So get it so lean. But you’re still good enough to live. And so then you’re not taking extra out of the company every month. Because if you take extra money out of the company every month and just keep paying yourself more, you likely will spend it. And in Canada, you can leave your money in your corporation and you can invest it there. You could buy real estate, buy stocks, you could buy bonds, GICs, whatever. And so leave it in and not pay tax and let that pot of money grow. So that’s step one, know what you’re spending in your personal life. Then you’ve got back to my realtor example where you’ve got 30,000 A month that is being saved in the corporation. So what people will say is, well, I don’t know, my dad just told me to save as much as you can. So I’m just saving, where we, again, the spinning accelerator, imagine a model, a spreadsheet, how have you on a vision and its buckets. So here comes this 30,000 down the conveyor belt. And the first kicker, you know, if you ever work in a factory, or you know, there’s a kicker on the conveyor belt that kicks stuff into a bin. And so the first bin is your emergency savings. So we’re going to kick off out of that $30,000 pot, we’re going to kick off 5000. Okay, that goes into a high interest savings bucket. Next bucket over is you want to save and buy a piece of real estate. So we’re going to kick off 10,000 Because that’s something that’s important to you. So now we’ve kicked off another 10. We’re down to 15,000 left. So keep going down the conveyor belt. You know, again, I’m biased, I’ve seen it work for lots of clients, dividend stocks, love them or hate them buying good quality businesses that pay a dividend and a growing dividend, if you can buy them at the right price. It’s a great diversification tool. So we’re going to kick off 5000 into that bucket. So now we’ve got 10,000 left. I always like a high risk bucket. This is the bucket that, you know, you might totally screw things up. And you invest in things that go to zero and lose your money. It’s enough that you got to put enough in there that if you have a win, it’s going to be meaningful, but it’s not enough that you’re not going to have groceries on the table if you screw it up. So maybe we’ll put 5000 in there. So let’s you know 10 would be 35 So it’s 15% maybe of your investable money, kick that off in the high risk bucket. So now we have You know, 5000 left. And so we’ve got 5000 left. So you’ve taken care of emergency savings, you’ve got, you know, all these different buckets. The one piece that I haven’t talked about yet is good insurance. So life insurance for your family, you know, you’ve got five kids, I hope you’ve got life insurance, because if you’re the primary income, big thumbs up great, so a primary income earner, if that income earner is gone, that’s very bad for family, simple analogy, critical illness or disability, you can’t work, you’re still alive, you’re just your life insurance doesn’t kick in, your incomes gone, and you’re still around, that’s equally as bad. So we might put 2000 of that pot of money into a good insurance plan 2000 a month. So now we have 3000 left. And that’s the back end of the conveyor is a bin. That is Let’s spend it and yeah, let’s take it out of the company, and let’s pay the tax. And let’s get it you know, a new car or let’s, let’s feel good. spending it. And the term we use is permission granted, that money is permission granted to and go on a trip permission granted to put a pool in your house. And you know, and that’s just kind of the real simple, I’ve really simplified it. Because it’s like, well, what are you picking the buckets? Well, that we can get into it. But that for people is usually an aha moment like, Okay, if I’ve checked off all the boxes of being responsible, and there’s still money, and I can see that in 1520 years now if I just kept doing those things, that that pot of assets is more than enough for us. Then let’s get spending it now. Perfect.


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About Dustin Servess

Finding Your Spending Accelerator and Stepping On It with Dustin ServessDustin Servess Work ethic and academic achievements were recognized early on in being awarded a scholarship from the Kelowna Golf and Country Club, which he applied to an education in Civil Engineering, leading him to an initial career in Calgary. However, his Okanagan roots remained grounded, and in 2005 Dustin moved back to Kelowna to pursue a new professional path in the financial services industry. After 8 prosperous and valuable years working as a senior associate with a large, local independent advisory group, Dustin launched Serviss Wealth Management in November, 2014.

Life-long learning is a core belief for Dustin, and while he has many letters behind his name, he strives to acquire new knowledge and is eager to share it to the benefit of his clients and friends. Helping others in the business realm, as evidenced in assisting with the Advocis Eduvacation for financial advisors in 2013, Dustin is committed to community service as well: business mentoring of S.D. 23 high school students, volunteering with Junior Achievement, Ambassador for the Chamber of Commerce, past member of Central Okanagan Search and Rescue, and supporter of KGH Foundation. He enjoys hosting client events designed to get people involved and active, have fun and where local charities are the benefactors of any proceeds.

Dustin, his wife and two sons enjoy an active and adventurous Okanagan lifestyle, participate in a variety of outdoor and cultural activities, and appreciate the people, amazing food and wine and the vibrant culture of Kelowna.


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