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In This Issue
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A word from Shari
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What's your Manulife number?
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Summer is just around the Corner
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Sunscreen Time
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Pam's Investment Corner
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Shari's
Opener |
Summer officially starts on June
21 so let's hope it brings the
summer weather with it! I am
gearing up for a fantastic July
& August and putting June behind
me! I can hardly believe that
the year is already half over...
it really is true that time goes
by like a snap of the fingers as
you get older.
Since protection is something I
help my clients with - be it
with protecting your loved
ones, your income or your
assets, I have included a couple
of articles about protection for
you!
Check out the article on the
Manulife One mortgage. This
strategy may be a great fit for
you.
Pam Moreside is back with
another tip - She talks about
the second profit centre in her
continuing section to help
educate you about Real
Estate investments.
Pam helped us to launch our
first 'game' night playing Fast
Track to Cash. It was great fun.
We did learn a lot about how
important cashflow is and how
you can generate different
income streams. We will
be playing again very soon. If
you are interested in joining
us - please let me know.
Here's to a great summer -
enjoy- and play safe!
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What's Your Manulife Number? |
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As a financial advisor, one
of the most important
aspects of my role is to
navigate through the sea of
financial information that's
out there and look for
opportunities that could
help improve your personal
wealth.
I think you might agree that
managing debt and
simplifying your day-to-day
finances play an important
role in achieving your
financial goals. One of the
many debt management tools
that are gaining popularity
in Canada is an all-in-one
account known as Manulife
One.
This innovative approach to
managing your money has been
recommended by
MoneySense
Magazine as one of the "Top
50 ways to grow your money."
You also may have also seen
a new "What's
your Manulife One number?"
TV commercial on popular
cable channels like HGTV,
TSN, Showcase, History
television and various news
networks.
About Manulife One
Manulife One is Canada's first
flexible mortgage account. It
works by combining your mortgage
with your chequing and savings
account. As a result, the moment
your income enters the account
it immediately pays down your
debt. You'll need to draw on
that income throughout the month
to pay for your expenses. But,
since interest is calculated on
a daily basis, every day that
even one dollar of your income
is in the account, you have less
debt than you had before and so
you pay less interest. You could
take years off your mortgage and
save thousands in interest
without any lifestyle or
financial changes except using
Manulife one. You can keep doing
the things you do today (perhaps
even do more) and still save
money. The idea behind Manulife
One is simple: have your income
and savings work harder to
reduce your total debt faster.
Consolidate your debts
When you open a Manulife One
account, we could lend you up to
90% of the appraised value of
your home. You use this money to
pay off the balance of your
existing mortgage and any other
outstanding debts you might
have. Now you pay one low
interest rate on every dollar
you borrow.
Put your savings to work
If you're tired of earning
little or no interest on your
chequing account, savings
balances and short-term
investments, Manulife One can
help put that money to work for
you. Apply those balances
against your borrowings,
instantly reducing your total
debt . . . and potentially
saving you much more in interest
costs than you'd likely ever
make in interest earnings. And,
you can take it back out
whenever you want (up to your
borrowing limit).
Put your income to work
By adding your regular income to
your Manulife One account, you
further reduce your debt the
instant the deposit is made.
Your income is immediately
working for you to reduce loan
interest costs until you need it
for your monthly expenses. With
even one extra dollar of your
income in your account, you have
less debt than you did before
and so you pay less interest.
This strategy could save you
thousands in interest costs and
help you become debt-free years
sooner compared to your old way
of banking. Check out their
website at
www.manulifeone.ca .
You can also use the equity of
your home to use for investing,
which then makes those interest
payments tax deductible which in
fact makes your mortgage payment
tax deductible. Let me know if
you would like more information
on this strategy.
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Summer is just around the Corner! |
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With summer brings lots of fun
outdoor activities; biking,
water skiing, tubing, hiking and
camping to name a few.
Unfortunately accidents can
happen too. Some accidents or
sickness may only result in a
few days off work. Others could
result in weeks. But a more
serious incident may leave you
unable to work for months or
even years, causing severe
financial hardships. Additional
medical expenses may also be
required during this time of
disability; hospital care, home
care, physiotherapy or
chiropractic services, all at a
time when your income is
stopped.
If you have disability coverage
through your work that covers
you 24 hours then that will
help. If you are self employed
you may have WCB coverage that
protects you at work. But, does
it cover you 24 hours? Most WCB
programs are designed for the
workplace, leaving you
vulnerable if you should get
injured off the job.
Traditional disability plans
protect "Earned Income". If you
are self-employed, or a contract
worker, your objective through
tax planning is to show as
little earned income as
possible. There is a company
that understands that; they know
that your lifestyle income is
not your earned income. This is
why benefits can be based on
your gross revenue.
If you are covered under a group
plan, many of your benefits are
provided already.
If you would like to can review
your current plan and discuss
how you can integrate personal
coverage to protect your
lifestyle, give me a call!
  
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Sunscreen
Time! |
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Ever had this happen?
Makes me laugh! How
could you get mad at
them for that?
Believe it or not, but
there's a proper way to use
sunscreen. Exposure to
ultraviolet light, UVA or
UVB, from sunlight accounts
for 90% of the symptoms of
premature skin aging such as
wrinkles and skin cancers.
The sun gives off
ultraviolet (UV) radiation
that is divided into
categories based on the
wavelength. UVB radiation
affects the outer layer of
skin, the epidermis, and is
the primary agent
responsible for sunburns.
UVA radiation penetrates
deeper into the skin and
works more efficiently.
Sunscreen Ingredients
The radiation blockers are
very effective at reducing
the exposure of the skin to
both UVA and UVB radiation.
The radiation absorbing
ingredients are
differentiated by the type
of radiation they absorb -
UVA and UVB absorbers.
Picking the Proper Sunscreen
The SPF measures the amount
of UVB absorption, but there
is no method of reporting
the UVA absorption. The only
way to determine if a
sunscreen protects against
UVA and UVB radiation is to
look at the ingredients. A
good broad-spectrum
sunscreen should have an SPF
of at least 15 and contain
avobenzone, titanium
dioxide, or zinc oxide.
Applying Sunscreen
Properly (don't pay
attention to the picture!)
Sunscreen should be applied
liberally enough to all
sun-exposed areas at least a
half an hour before going
out in the sun.
Reapplying Sunscreen
Re apply sunscreen 20 to
30 minutes after being in
the sun. This is more
effective than waiting 2
hours. Sunscreen should also
be reapplied after swimming,
excessive sweating, or
toweling.
Daily Sunscreen
Sunscreen should be applied
daily. The daily use of a
low-SPF sunscreen (15) has
been shown to be more
effective in preventing skin
damage than the intermittent
use of a higher SPF
sunscreen.
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*NEW* Pam Moreside's Investor Corner |
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This
month we are going to look at the
second Profit Center (opportunity)
in Real Estate Investing - Gaining
Equity on Day One - also known as
buying under market value.
First of all: What is equity?
Equity is defined as the fair market
value minus the debt service
(mortgage). In other words, it is
the portion of the property that you
own. If you are able to purchase a
property below market value, you add
that equity to your down payment for
your total ownership amount.
Like many of you out there ( I am
sure) I love a sale! Stick a 30% OFF
sign in front of just about anything
and you've got my attention. This is
basically what you are doing when
you structure your Real Estate deal
to purchase a property below its
fair market value or appraised
value. You're getting it on sale!
This is an investment opportunity
that is unique to Real Estate. With
most other types of investments like
stocks and bonds you pay the going
rate of that day and have to wait
for the market to go up to make
money. But a Real Estate
transaction is somewhat subjective.
One Real Estate agent I know says
that your house is worth exactly
what someone is willing to pay for
it. Similarly a house may be listed
for what someone is willing to let
it go for in order to achieve a
quick and painless sale. By keeping
a sharp eye on the market and
knowing your Real Estate values, it
is often possible to secure a
property selling substantially below
market value. Instant Equity.
Another method one can use to create
instant equity is through repairs
and renovations or changes to
current use. Adding a rental suite
or finishing a basement are two ways
to do this. Purchasing this way
provides an instant return on the
dollar.
Example #1:
Market Value
$305,000
Equity Day One
$5,000
Example #2:
Purchase
Price
$250,000.00
Add rental
suite
$30,000.00
New Appraised Value
$310,000.00
Equity
Gain
$30,000.00
Next month we'll look at
Cash Flow: How Real
Estate investments can
not only pay for
themselves but put money
in your pocket every
month.
Our Cashflow game night
was a learning
experience and a lot of
fun for those that
attended.
Congratulations to
Natasha Koch for getting
out of the rat race and
onto the Fast Track!
We will be scheduling
another one next month,
keep your eyes peeled
for a notice from Shari.
Recommended Reading:
97 Tips for Canadian
Real Estate Investors
Don R. Campbell
(he is the guru of
Canadian Real Estate
Investing)
The One Minute
Millionaire
Mark Victor Hanson and
Robert G. Allen
Also, I am pleased to
announce this month that
I have joined the
affiliate program for
the Fast Track to
Cashflow Inner Circle.
That allows me to offer
to you a special two
months free test drive
of the Inner Circle
Membership. I have been
a member since August of
last year and have found
the monthly newsletters
and CD's to be a
terrific value to me in
my pursuit towards
financial freedom. It
contains information
about marketing, sales,
investing and much, much
more.
Contact Pam at 250-729-1411
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