|
Momentum Newsletter |
July 2009 Issue 4 Vol. 5 |
|
In This Issue |
- Shari's Introduction
- Market Update
- Is your bank telling
you the truth?
- Money Momentum Now!
- Pam's Corner - Real
Estate Investing
- Client needs help
renting a condo!
|
|
Shari's Introduction |
|
Happy Summer! My favorite
time of the year! Lots of golfing in this year
so far - including 5 days of golf in Vernon -
does it get any better?! (I did visit my Mom too
- but the cool thing is - she's a golfer too!)
Hope you are having a
good summer and having fun at whatever you like
to do!
I have been very busy
with my new Money Momentum seminars and
preparing for my 2 day Intensive Workshop at the
end of September. It is really exciting to be
able to help you get that money madness monkey
off your back! See below for more details.
Please watch the attached
CBC news report on mortgage insurance through
the banks - if you have bank mortgage insurance
you need to know the truth about your coverage!
The markets have
rebounded quite a bit this year which is a good
sign - however by all accounts, we are still out
for some more volatility - see article below...
Pam has included some
real estate investing tax tips for you too!
Enjoy the lazy hazy
days of summer - don't forget your
sunscreen!
Cheers,
Shari
|
|
Market Update |
The markets have rebounded quite
a bit this year which is a good sign - however
by all accounts, we are still out for some more
volatility, but the severe downturn is behind
us. The credit freeze is starting to thaw. Car
and home sales are up. The US has put $800
billion into a stimulis package with Canada
following suit with $30 billion. China continues
to grow and we are starting to see that impact
globally.
There is definitely less negative data. Interest
rates are at all time lows. We are starting to
see some stability in the housing market - it is
the best time to buy a house in 30 years... But
you have to be confident in your job.
Analysts agree that it is important to stick
to the fundamentals of planning for
the longer term. Inflation is believed to be
tame for awhile - it is at a 20 year low in
the US. Interest rates are forecasted to
stay low for some time to come - probably
until the back half of next year - really
depending on the US economy.
Bottom line is you need to have a longer
term focus. Try and not look at your
portfolio every day or you will pull your
hair out. Don't drive yourself crazy.
|
|
|
|
|
Is the bank
telling you everything you need to
know about mortgage insurance? |
|
In a news special that CBC's
Marketplace aired last year, it
featured how the banks are
misleading most people who buy
mortgage insurance.
Not on purpose, but usually
because a mortgage broker sold
you the 'full meal deal' - life,
disability, and critical
illness insurance.
Of course you want to be
covered!
Here is where it falls down - If
you do not have a contract -
then you do not have guaranteed
insurance. What I mean by that
is, the insurance will be
assessed (underwritten) at time
of claim which could put you and
your family at risk.
The mortgage broker in most
cases is not licensed to sell
you personal insurance and
therefore does not know how and
what to explain to you about
insurance. They can however sign
you up for the 'group plan'
creditor insurance. Quick 4
questions and you are out of
there!
Basically mortgage insurance
offered by the banks is
meant to offer peace of mind
and also to reassure you
that you and your family
will be able to stay in your
home if
anything should happen.
The reality falls a
little short of that.
... watch the episode
and meet two families
who bought the coverage
and thought they were
protected, only to have
their claims denied when
they became sick or
died.
As Erica Johnson
reports, the bank
staffers selling
mortgage insurance are
unlicensed and rarely
trained to explain the
details and legalities
of those insurance
products. The result is
people pay premiums and
think they are covered,
only to realize later
that they are not, and
no recourse.
http://www.cbc.ca/marketplace/2008/02/06/in_denial/
|
|
Money Momentum Now! |
|
I am so excited to tell
you about my new 2 day Money
Momentum Intensive Workshop!
Clients have asked for it - here
it is!
When:
September 26/27, 2009.
How would you like to get
rid of money madness once
and for all?
By the
end of these 2 days you will
have a clear picture and be able
to visualize and focus on what
you want with a crystal clear
vision and 12 month plan on your
way to financial freedom!
You will recognize more about
yourself and know what motivates
you and what stops you from
taking control of your money. A
lot of people manage their
finances by shutting their eyes
and believing that somehow
everything will work out all
right. Is winning the lottery
your retirement plan?
You will have to focus on
your spending behavior to
discover what is your
'enough' number that you
need every month to achieve
financial independence.
What do you want? Your
needs, wants and goals are
unique to you and help you
determine what is enough.
It's time to draw a map and
get a handle on your cash
flow. It may scare you to
death this minute, but it is
the first step to 'peace of
mind' in the future.
The day you make the
decision and say "I've
had it!" What an
important day that could
be...
I
am offering a prequel
seminar to the workshop
(details below) - you
will definitely walk
away with an
enhanced self confidence
that you can be, do, and
have it all!
Treat yourself to
some effective,
valuable information
so you can get
started creating
your own Money
Momentum!
I guarantee it!
*******************************************************************************
You are About to
Discover:
"3 Massive Mistakes
Professional Women Make
That Put Their Financial
Future at Risk..." (And
How to AVOID These
Mistakes Forever!!!)
Would you like to
RELEASE ALL STRESS
around money once
and for all???
Would you like to
CREATE the
FINANCIAL FREEDOM
that allows you to
have everything
you've ever
wanted???
If you answered
YES to either
of the questions
above, You are in
the right place.
JOIN me for an
evening that will
change your financial
future forever!
THERE ARE TWO NIGHTS TO
CHOOSE FROM:
'Money Momentum
Evening'
Wednesday, July
22th and Tuesday Aug
25th 6:30 - 8:30 p.m.
At the Coast Bastion
Hotel, Nanaimo
Event is complimentary,
Registration is
required.
At This Event You
Will Discover:
The #1 Thing to
CLEAN UP in your
life
(and it's not
what you think)!
What keeps most women
worrying like crazy all
day,
and lying awake
at night.
The
ONLY place to
invest your hard earned
time, energy and money
right now - and it comes
with 100% Guarantee!
STOP the
merry-go-round of
money madness
and
take
control of your
dreams!
|
|
Pam's Corner |
Pam's Real Estate
Investment Corner
Tax
Benefit
Another important
profit center in
Real Estate
investing is the tax
benefit. In Canada
we can not write off
the interest paid on
our own home as they
do in the US -
(well, actually you
can, using a method
called the Smith
Maneuver but we
won't go into that
now). However, we
can use the interest
paid for investments
as a taxable
deduction as well as
most operating
expenses such as
utilities,
maintenance and
repairs, taxes and
insurance.
This is an important
factor because it is
a highly leveraged
investment (we
talked last month
about using the
bank's money) and in
the first few years
the mortgage
payments are almost
all interest so in
effect you can write
off most of your
mortgage payments
against the rent
received. Nice!
More Tax
Savings
It is an important
part of any wealth
creation and
retirement savings
program to minimize
or defer the amount
of income tax
payable. Paying less
tax allows us to
save more of our
hard earned dollars
and get them working
for us in solid,
appreciating
investments. In
fact, the Canadian
Revenue Agency
supports this idea.
#1 of the CRA's
Taxpayers Bill of
Rights states: "You
have the right to
receive entitlements
and to pay no more
and no less than
what is required by
law."
Tax shelters that
have been designed
to be compliant with
the law are a great
way to do this.
MissionLife
Financial Inc. is a
great program
designed to help
Canadian Taxpayers
legally reduce their
income tax payable
AND help people
dying of AIDS in
Africa at the same
time.
For more information
on the MissionLife
program you can go
to:
www.missionlifefinancial.com For
more details of how
you can benefit just
send me an email at
pam@buildingdreamstogether.ca.
Here's to the
keeping the jingle
in your jeans...
Recommended Reading:
Millionaire Real
Estate Mentor by
Russ Whitney
Seize The Day Real
Estate Investments
...building dreams
together
Pam Moreside
(250) 729-1411
|
|
Great Condo for Rent! |
|
Want to
be only a 5 minute walk from
the seawall, fine dining and
shopping in downtown Nanaimo?
Check out this high-end, one
bedroom condo that has been
tastefully renovated with your
comfort in mind.
Open
layout with laminate flooring,
custom kitchen countertops,
heated tiles in bathroom,
meticulous private patio and
fenced yard that is a rare find
indeed!
Tastefully painted throughout,
with new light fixtures,
moldings, window coverings and
unique touches that will make
this feel like home the minute
you step inside.
Wheelchair accessible &
senior-friendly, rentable and
pets welcomed in a quiet area.
This unit won't last long as
there are no other one-bedroom
condos in Nanaimo that offer
value quite like this!
Call
Heather @ 250-619-1928 for more
information on rent and
an appointment to view!
|
|
|
|
|
|
|
