The Modest Millionaire

Oct 8

4 min read

Machu Picchu, September 2026, Credit: Karen Boudewyn

Fall is upon us, this is one of my favourite seasons. The trees show their beautiful colours and prepare for winter, our routines shift, and new opportunities present themselves. It’s a wonderful time to pause, appreciate what we have, and consider what we want to make room for next.

In this month’s newsletter, we explore The Modest Millionaire. Do you recognize yourself in the story? If you’re not there yet, what steps could help you move closer?

As I often share, wealth isn’t just about money. It’s also about what motivates you, brings you joy, and gives your life meaning. The 6 Priorities of Wealth offer a broader perspective on what it means to live a wealthy life.

You’ll also find links to activities in Calgary and Victoria to help you enjoy the season, along with Market Ethos, keeping us informed about what’s happening in the bond markets.

Enjoy the read, and may your Thanksgiving be filled with gratitude, connection, and a little time for yourself

Harness Investment Management

Market Ethos

Stealth Bear

Markets are holding up with these higher bond yields but underneath the surface breadth has plummeted. In this Ethos Derek dives into this poor breadth plus we have a look at cyclical yield which is crushing interest rate sensitives in the dividend space. read article

The Modest Millionaire

When you picture a millionaire, what comes to mind? Perhaps someone who sold a business, received an inheritance, or had an extraordinary career.

But many people approaching retirement have built substantial wealth in a quieter way. They earned a salary, managed their expenses, lived within their means, and invested what they could over many years. Some earned additional income from a rental property or another source, but there was no single windfall. Their progress came from choices repeated over time.

These are the modest millionaires. They understood their numbers: what came in, what went out, and what was available to save. They invested for the long term, knowing markets would have both strong years and pullbacks. They did not need to make a new investment decision every day.

The foundation is simple: earn, spend with intention, and invest the difference. Time and compounding can then do the heavy lifting. Of course, people start with different opportunities and face different challenges. The point is that steady habits can have a powerful effect over a working life.

Perhaps the most meaningful choice these people made was to give their future selves a place in today’s decisions. As retirement approaches, though, the question changes. It is no longer only “Have I saved enough?” It is also “What kind of life have I been saving for?”

Wealth is more than a number

Financial wealth creates options, but it is only one of the six priorities of wealth.

I encourage people to consider:

Financial wealth: Having the resources to support your needs, goals, and choices.
Physical wealth: Caring for your health and ability to enjoy daily life.
Mental wealth: Supporting your sense of clarity, resilience, and peace of mind.
Time wealth: Having room for the people and activities that matter to you.
Social wealth: Building and maintaining meaningful relationships.
Spiritual wealth: Living with purpose and in keeping with your values, however you define them.

These priorities are connected. Money may give you the freedom to travel, but physical health helps you enjoy the trip. More free time can be a gift, but relationships and a sense of purpose help make that time meaningful.

Ten questions to shape your “enough” life

A million dollars is a number. A fulfilling retirement is personal. As you think about your next chapter, ask yourself:

What does an “enough” life look like to me? What would make my days feel satisfying?
Where do I want to live? Does my home and community support my health, relationships, and lifestyle?
What qualities do I want to bring into this stage of life? Perhaps curiosity, generosity, independence, or a willingness to try something new.
Who do I want to share my life with? Which relationships do I want to nurture?
What do I want to do and learn? How would I like to use my time when work takes up less of it?
Which material things matter to me? What adds value to my life, and what simply takes up space or money?
How much flexibility do I want in my spending? What would I like to be able to say yes to?
What feels missing today? Is there something important I have been postponing?
What role do I want work to play? Would I like to retire fully, work part-time, mentor others, or pursue a new goal?
What are my family priorities? How do I balance supporting others with caring for my own future?

From questions to action

Your answers may reveal gaps between the life you have built and the life you want to live. Some gaps may be financial. Others may involve your health, relationships, time, peace of mind, or sense of purpose.

Choose one or two priorities to start. Then look at the numbers and the practical steps behind them. A thoughtful financial plan can help you understand what is possible, where adjustments may be needed, and how to use your resources with intention.

Building financial wealth matters. So does making room for the other kinds of wealth that make life rich. The goal is to align your money with your life—and give yourself permission to enjoy the future you spent so many years preparing for.