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VIDEO: Dan discusses his trip to meet with the Advisory council to Manubank and urges you to read the 'Seven Dirty Little Bank Secrets' in his blog article and make sure you enter the 'A Night on the Town' contest below.
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A NIGHT ON THE TOWN CONTEST
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Are you sure you're protecting what's most important?
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LONEY FINANCIAL & MANULIFE FINANCIAL
are pleased to present:
A Night on the Town Contest
Enter to Win by Oct 31, 2015
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How to Enter A Night on the Town Contest:
- Complete an analysis of your life, disability and critical illness insurance needs with the InsureRight Calculator.
CLICK HERE TO ENTER
- Send your results by Oct 31, 2015 to dan@loneyfinancial.com via PDF to be entered in the draw.
- “A Night on the Town” consists of a $100 restaurant gift certificate and a one night accommodation in beautiful downtown Vancouver.
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ENTER BY OCT 31, 2015 TO WIN
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DAN'S BLOG
Seven Dirty Little Bank Secrets ~ why your bank will not advise you to go to cash.
- Bank portfolios are often dictated from Head office in Toronto and the stock you buy, is the stock that large investors are dumping. When someone sells stock, someone has to buy and if you are one of the small fish in the big banks, then you may be getting dumped on. I have heard this confession by several advisors that have ended up leaving the banks due to this practice because their conscience would not let them continue to sell product to their clients that they did not believe in.
- "Remember it’s for the long term, just hang in there". Have you heard that before as your portfolio has taken a dive? A tactically managed portfolio takes a lot of work in research and execution to make the reallocations which cost the bank in time and money. Generally, they position you and then forget about you until it's RRSP time when they call you to ask if you are going to put in more money.
- The banks put a lot of money into promoting their fund managers. If they have you in a growth fund (80% stock & 20% bonds), they are not going to recommend to the client advisors to switch the client out of the growth fund and into cash as it would be shooting the growth fund manager in the foot.
- Cost to manage and switch a client from an equity portfolio to cash is costly in time spent by the advisor and his team as it does not generate any revenue unless they are billing you a fee for the stock transaction. If this is the case then you really have to be careful that they are not switching you often just to generate fees.
- When an advisor switches you out of stocks and bonds to cash he is going to take a 50% cut in revenue and most advisers don't want to do that. Cash pays less than 50% service fees that stocks and bonds pay to the advisor in trailer fee's. Most advisors are not willing to take the cut in pay.
- Reallocation of a client base takes a lot of time and if you are busy reallocating clients to cash, you are not busy bringing in new clients and increased revenue. When clients are in cash, they will have to be reallocated back into equities and bonds at some point when the market shifts into gains once again. This is more time and more work without increasing revenues of the firm.
- Risk of error, when multiple transactions are completed there is always the risk of error or a misunderstanding in communication. Less transactions would mean less exposure to error and liability from the position of the bank.
Dan Loney
For more information on how Loney Financial can help, contact us at 604.534.6003 or Email: dan@loneyfinancial.com
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10 Ways Technology Could Change Aging In The Next 10 Years
Technology is changing everything, including how we will age and the quality of our senior years. Mobile devices, wearable gadgets, and Internet-based technologies will help older adults age in place while monitoring their health and safety. As The Huffington Post celebrates its tenth anniversary, we've decided to take a look at the 10 things we expect to see in our technological futures.
1. Talking street signs.
Night driving is a real bugaboo for seniors. Our vision weakens as we age and eventually we reach the point where we don't trust our ability to find places once the sun sets. GPS systems have given us a little more confidence that we won't get lost, but what would really be terrific would be talking street signs that announce themselves via our Bluetooth as we approach.
2. Cars that drive themselves.
We know this is just around the corner, so to speak. We'd be happy just to have cars that parallel park themselves.. Automotive technology is working towards making us all safer drivers, but for seniors, there's an even keener interest: It could easily help keep them safe on the road longer. The ability to drive, many believe, is at the core of independence. Cars of the future will be able to recognize unsafe driving conditions or when the driver isn't paying attention and make automatic adjustments to steer the vehicle away from a potential accident.
3. The doctor will see you now -- on Skype.
Video-call doctors' visits have already been a boon to those who live in rural areas. Expect that the trend towards more telemedicine will continue. One day we'll be saying "Remember when we used to have to go into an office to see the doctor?" just like we now say "Remember when doctors used to make house calls?"
4. Remote patient monitoring.
Patients can already check their glucose levels and download the results to their doctors. Watch for the expansion of point-of-care monitoring devices, such as weight scales, heart and blood pressure monitors that send your readings directly to the doctor. In many cases, these devices obviate the need to visit the doctor's office. Many of the routine services that doctors traditionally have provided in their office are changing. Pharmacies already offer a lower cost way of getting your blood pressure checked and your annual flu shot. Not going to see the doctor also means no co-pays.
5. Online medical records.
Privacy concerns notwithstanding, there is a huge plus to having all your doctors on the same page -- literally. Test results can be shared, medical conferencing can be conducted online, and you and your loved ones can all have the same information in front of you. It's easier to get second opinions when all you need to do is send your test results to another doctor on a secured connection. Specialists who are in different cities or countries can consult with one another. We communicate electronically now anyway. We bank and engage in e-commerce daily. Why not use technology when it comes to medical records? As for the privacy issue, it absolutely exists. But remember: Nobody has ever died from the inappropriate release of a medical record, while plenty have died because people couldn't get access to this information.
6. Robots as caregivers.
A Japanese engineer has developed a Robot-Teddy Bear. It looks adorable and is intended to perform tasks like lifting an elderly person out of bed and helping them stand up or move into a wheelchair. Robear is the brainchild of Toshiharu Mukai, head of the Robot Sensor Systems Research Team at the Riken-SRK Collaboration Center for Human-Interactive Robot Research since 2007. Health workers perform this lifting task with patients about 40 times a day.
7. Lights, lights and more lights.
Nothing against restaurants that set a romantic mood with candles, but we can't read your menus. Watch for LED lights showing up in places you never expected -- including at the top of the list of specials the chef is featuring tonight. There's even a Ralph Lauren tote bag with LED lights on the inside to help you see when you go fishing for your pen.
8. Safety monitors that go way beyond nanny-cams.
Future sensors will include information about lifestyle habits and patterns. There will be sensors to alert you if your elderly mom hasn't turned on her TV in two days when you -- and the sensor -- know she never misses her favorite shows. How about a pill-dispenser that sends you an email if Mom has missed a dose? Or a motion sensor in the bathroom that reports if Dad has fallen and automatically calls 911 for help? Motion sensors monitor the speed and frequency of movement throughout the house and can let a caregiver know if someone hasn't gotten out of bed. The sensors can also track when seniors visit the fridge to make sure they are eating. And sensors near the stove know if a pot was removed and the burner left on.
9. Homes will age along with us.
Walk-in tubs, stair lifts, lower cabinets, and waist-high power outlets so the elderly don't need to bend down to the baseboards to charge their devices are all simple changes in home design that will make aging in place easier. Throw in some smart technology alert systems and many concerns of the elderly are addressed. Expect sensors that alert you to things like the garage door being left open or that the front door is unlocked. Finders for the TV remote, the telephone and your car keys will all be a standard part of home design. Lights will turn on as soon as your feet hit the floor when you get up to use the bathroom at 1 a.m. Appliances will "speak" to each other: Your refrigerator will send your TV a message saying you left its door open.
10. More apps -- for everything.
There are apps that help you track weight, exercise, calories, etc. There will be more apps that help you understand your body, your illnesses, your surgeries, your medications and their possible side effects. My Recovery app, designed by a surgeon, would help patients prepare for their operation, to understand what to expect during and after their hospital stay, and to guide them through any necessary rehabilitative physiotherapy exercises individually tailored to their needs. Then there's Flowy, an app that uses games to help people manage panic attacks. It’s already had one pilot trial that found that users showed a significant decline in symptoms compared to a control group, reported Newsweek. There will be apps with exercises that are prescribed just for you by your physical therapist, who will be able to see whether you've done them and send you reminders if you haven't.
http://www.huffingtonpost.com/2015/05/04/10-ways-technology-could-change-aging_n_7155100.html
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Mint.com is a fantastic tool. It is what I use to track my monthly budget for fixed and variable expenses. It will even track your discretionary spending if you want but most of the time my discretionary expenses (coffees, movies, eating out) are paid with cash. Check out this free service and if you use it you will be very impressed.
https://www.mint.com/
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Rule of 72 Calculator
The Rule of 72 is an easy way to approximate how long it will take your savings to double. Just divide 72 by the interest rate you earn to determine the number of years it will take your money to double. It shows the way money can grow faster with a higher rate of return.
Keep in mind that this is just a quick estimate. Depending on changes in the rate of return over time, what you’re invested in, how you invest it, how interest is applied, and possible tax implications, the actual amount of time needed to double your money will vary.
This calculator will calculate a quick answer and let you compare three rate of return scenarios using the Rule of 72.
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Are you ready for Manulife One?
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Discover why the Clarkes have been recommending Manulife One and how it made their life easier.
http://www.manulifeone.ca
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IF AN INVESTMENT SOUNDS TOO GOOD TO BE TRUE…
"Every couple of years, I get asked about an investment that seems too good to be true. My clients have been pitched an investment opportunity that returns double what is a normal historical return for that asset class.
Not too long ago, a client called me about a business proposal to a group of doctors. My client had a funny feeling or a slight suspicion about the businessman proposing the deal. He asked if there was any way I could check him out?
I went on the Internet and within 3 hours of searching (like a dog after a bone) I found a history of criminal activity going back 20 years. I found he had been charged and convicted of financial fraud and served time in 2 U.S. prisons and even more allegations of fraud in the newspapers over the years. - Dan
IF AN INVESTMENT SOUNDS TOO GOOD TO BE TRUE… Greed has a way of preventing people from performing the simplest forms of due diligence.
Imagine you’re planning to buy a new stove. You go to a brick-and-mortar store to find a model with the look and features you want. Then you do what everyone with an internet connection would do: you Google the make and model, and in a fraction of a second you have the information you need to determine if the salesperson’s trying to fleece you.
Now imagine someone says they can make you a lot of money on a hot stock scheme if you give them $357,000. You’d do even more due diligence than you would for a $2,000 appliance, right?
Enter Steven Staltare, a Florida man whose rap sheet includes multiple securities fraud convictions, a restitution order in the millions and a jail sentence. Despite this long and publicly available list of major infractions, Staltare recently duped at least four people into parting with large sums in the hope of making outsized returns.
“Seems that Staltare sort of left his criminal history and incarceration out of his deal pitches to Victims 1, 2, 3, and 4 — and it also seems that folks didn’t bother to check him out all that carefully,” explains Bill Singer, a securities lawyer based in New York, on his BrokeAndBroker blog.
“On September 29, 2015, Staltare, now 50, was sentenced to 77 months in prison, three years of supervised release, ordered to forfeit $846,250, and ordered to pay restitution of $846,250 to victims of his offenses,” notes Singer.
A simple Google search on Steven Staltare, adds Singer, yields a litany of unflattering news stories and source documents, such as this one from 2004.
http://www.advisor.ca/news/industry-news/if-an-investment-sounds-too-good-to-be-true-191672
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WHAT'S DAN READING?
Getting Things Done: The Art of Stress-Free Productivity
by David Allen
 In this world of increasing busyness, David Allen is one of the most recognized experts in the art of productivity. He has many common sense techniques but also some good life hacks that come from consulting for years in this area of personal productivity.
His many ideas include ideas regarding setting goals and how to get unstuck in the middle of a project that is just not moving forward.
One secret is about what you are not doing and this may be one of the keys to increased productivity. Some tasks are just definitely “off vision”.
Dan
Purchase this book at Amazon.ca online.
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Click here to see the story of a 35 year dream come true and learn about Loney Financial’s support of rescuing homeless children in Guatemala. Thank you to all the clients and associates that have helped to make this a reality.
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Client Photo
NEW: Each month we are featuring the best photos from our Clients. Please submit yours to Dan and we will include this in a future Newsletter.
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Taken by Bobbi Randall on a recent trip to San Francisco.
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COOKING WITH DENISE
Denise Bailey our Client Services Coordinator brings you a delicious monthly recipe from her renowned portfolio.
LAZY PIEROGIES
 Who doesn't love perogies? My mother-in-law makes perogies from scratch and they are to die for!! Well, I have tried but can honestly say that I am not as talented when it comes to making these.
Many years ago, my mom made the perogie casserole version and we loved it.... and it tasted pretty close to the real thing. So, I had some left over mashed potatoes the other day and made this for dinner.
It was much easier than trying to make, knead, roll, fill, fold and smoosh together individual perogies. I did not try the freezer version, but am very tempted to make a big batch and freeze them for future dinners. Anything that can make getting dinner on the table that much quicker, I will try at least once.
Enjoy!!!
Denise.
Ingredients:
- 15 lasagna noodles, cooked and divided
- 2 cups mashed potatoes
- 2 eggs, beaten
- 8 ounce package shredded Cheddar cheese
- garlic salt, pepper, and onion powder to taste
- 1/2 cup butter
- 1 onion, chopped
Directions:
- Arrange 5 lasagna noodles in a lightly greased 13"x9" pan, set aside.
- Combine potatoes, eggs, cheese, and seasonings. Spread half of the potato mixture over lasagna.
- Cover with another 5 lasagna noodles; spread with remaining potato mixture.
- Top with remaining lasagna noodles, set aside.
- Melt butter in a skillet over medium heat. Saute onion in butter until tender. Pour onion mixture over lasagna.
- To freeze - cover unbaked casserole tightly with aluminum foil and freeze.
- To serve - thaw overnight in refrigerator. Bake, covered, at 350 degrees for 30 minutes. Let stand for 10 minutes before slicing.
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Solutions Magazine
PREPARE FOR TOMORROW, TODAY - Taking control of your future starts with a plan.
Read More (PDF) >
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Articles
A Guide to Not Retiring
Some people nearing retirement age simply don’t want to leave their jobs. But defying expectations can be difficult—in the office and at home.
It’s an inescapable reality of getting older: At some point, everybody expects you to retire. There’s your spouse, who perhaps is already retired and is looking forward to enjoying a relaxing life with you —
Read More >
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