|
|
|
|
|
|
"In life we really are all superheroes,
we just need to figure out what cape to wear.”
- Dr. Ali Zentner
|
|
|
|
|
WATCH: Dan introduces Ginny O’Leary of Manulife and discusses the importance of Critical Illness insurance.
|
|
The Housing bubble, Critical Illness insurance & Trump v Clinton.
 Well there has been lots going on out there in the world since I posted my blog last week. I made mention of the fact that foreign real estate purchases being taxed, as a non-residency tax, have impacted house prices in cities like Singapore, Hong Kong and London. This has resulted in an average drop of 10% in property values. Already as I talked to my real estate agent clients they are saying that the current taxation move by the government is affecting and slowing the activity of sales. There is trouble in the bubble, when things begin to flatten out and this seems to be happening, or starting to happen, at this time so it will be interesting to observe the outcome over the next 12 months.
 This month in our newsletter we have a focus on critical illness insurance. It pains me every time I get a call from a client who shares with me the challenge that they are going through cancer or have had a heart attack. Just two weeks ago my 59-year-old brother-in-law died suddenly from an aneurysm. To suffer the loss of health is one thing but to suffer the loss of income during that health trial is another. One of the great benefits of a critical illness contract is that it allows the patient to focus on getting better and not having to suffer immediate financial stress. Critical illness insurance is inexpensive in the big picture and we would be happy to send you more information on this. Just send us an email requesting information and we will provide for you a quotation and information on critical illness coverage.
 Finally, much conversation these days centers around the United States election. Having recently visited my relatives in Oregon I learned that it is quite a hot topic. Many of asked me who I think will win the election? I tell them I feel that this presidential race is like two candidates running to a finish line through a minefield. One of them is going to step on a mine before they reach the finish line and blow up. Will it be Hillary and her corrupt deals and hacked emails or will it be Trump shooting off his mouth to where average US citizens simply cannot support him any further?
For more information on how Loney Financial can help, contact us at 604.534.6003
or Email: dan@loneyfinancial.com
|
|
NEW STAFF MEMBER
We are proud to announce our newest staff member: Brady Lucas SKYWALKER.
This is Carling's, our Financial Coordinator, new assistant :)
|
|
|
GUESS WHO? WIN A $50 STARBUCKS CARD
|
|
|
|
Last month's winner was Justin F, who guessed correctly with Brian Burke and wins a $50 Starbucks Card. Dan is pictured with him when they met during his tenure as the GM of the Vancouver Canucks: 1998–2004.
|
|
|
Did you owe money on your taxes this year?
Did you borrow in order to contribute to your RRSPs?
 Why not pay yourself instead?
Start a Pre-Authorized Contribution (PAC) into your RRSPs to save money, reduce taxes and avoid the hassle of borrowing at the beginning of the year.
Undeniable fact: Filling up your RRSP contribution room each year is a great way to maximize tax savings and the size of your retirement nest egg. But many Canadians have trouble coming up with a sizable chunk of money before the tax deadline.
There is an easy solution! So easy you just may forget you are contributing! As much or little as you want on a monthly basis.
A PAC delivers some significant financial benefits: The regular contributions have longer to grow, and thanks to the magic of compounding, it significantly adds to your nest egg, and you get to enjoy the benefits of dollar-cost-averaging – meaning that you can buy fewer units of an RRSP when prices are high and more units when prices are low. Over time, this strategy reduces the impact of volatility and usually results in a lower average cost to you and the accumulation of more units.
 Contact us today to set up your monthly PAC and start saving! Just respond to alysha.smith@LoneyFinancial.com with the amount you would like to save monthly and I will send you the paperwork to sign and return to get started as soon as possible.
|
|
|
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/
|
|
|
IF YOU NEEDED A MORTGAGE IN THE 1960S, YOU DIDN’T GO TO A BANK.
WHAT HAPPENED?
|
|
|
by Rick Lunny: CEO Manulife Bank of Canada at Manulife Financial
 With banks holding nearly three quarters of residential mortgages in Canada, it’s strange to think that they were once a bit player in this market. However, in the mid-1960s life insurers were the dominant mortgage providers in Canada. This was largely due to regulations that made it difficult for banks to compete. Then, in 1967, the restrictions on the banks were lifted and the rest, as they say, is history. Today, banks dominate the market while insurers cling to a market share of a mere 1%.
What happened? The ground shifted and the industry leaders failed to adapt.
In an economy that’s in a constant state of flux, it can be tempting to settle back and get comfortable with whatever today’s new normal happens to be. However, we would do so at our own peril, because the pace of change in today’s economy makes that of the “revolutionary” 1960’s look positively stagnant.
 Consider the music industry. Now, if you’re expecting me to describe how Apple disrupted the music industry with iTunes, you’ve just illustrated my point. Today, companies like Spotify are rendering iTunes obsolete. After all, why would anyone pay Apple $1.29 to own a single song when they can stream and download as many songs as they like from Spotify for just $10 per month (or even free if you’re willing to put up with ads)? Apple’s iTunes - so disruptive and dominant just a few years ago - is now itself being disrupted by Spotify and other streaming services. How disruptive are they? Last summer this seven year old company was in discussions to be purchased by Google for $14b U.S.
Like the music industry, the financial services industry is also undergoing constant change in response to changing customer expectations and competitive threats. Just like the 1960’s, another revolution is taking place. As the Economist recently wrote, investment in financial technology or “fintech” startup companies amounted to over $12b U.S. in 2014 alone.
 Some who are in the business of providing financial advice perceive fintech solutions (think “robo-advisors”) as a direct threat to their livelihood. However, many advisors and brokers I’ve spoken to understand that change is inevitable. Instead of resisting change, they’re looking for ways to integrate these new technologies into their practices. We’re also seeing financial services companies partner with fintech startups to enhance their customer experience.
These advisors and companies may have the example of Kodak in the back of their minds. A number of years ago, Kodak invented the digital camera. However, they failed to exploit this new technology for fear of undermining their main source of business – film. Unfortunately for Kodak, their competitors had no such hesitations and, as a result, the once-dominant photography company went bankrupt.
There’s no doubt that change can be difficult. However the speed of change in customer expectation is only increasing. If we’re not prepared to adapt quickly and frequently, we risk being left behind.
linkedin.com/pulse/you-needed-mortgage-1960s-didnt-go-bank-what-happened-rick-lunny
Connect with Rick Lunny on LinkedIn at - https://ca.linkedin.com/in/rick-lunny-3491544
Dan with Manubank president Rick Lunny discussing how to make the client experience better at the Manubank Advisory Council.
|
|
|
THE DOWN PAYMENT TOOL: FIND OUT WHEN YOU’LL BE A HOMEOWNER
|
|
|
Saving for a down payment is the entrance exam for home ownership.
But in cities where prices are surging to record levels, passing the test is a greater challenge than ever for first-time buyers. Saving up can take years longer than it once did.
How long will it take you to break into the market? Find out with our new interactive tool.
Fill out your preferences, either by dragging the slider or typing in the boxes. We’ll calculate how long it’ll take you to build savings for a minimum down payment. Finally, scroll to the bottom for an in-depth look at how home affordability has changed in your desired city.
The Down Payment Tool: Find out when you’ll be a homeowner
|
|
THE TOP 10 SCAMS IN CANADA
|
|
|
In an attempt to create awareness and protect people from scammers, the Canadian Association of Chiefs of Police has compiled a list of the top 10 scams in Canada.
 1. Sweepstakes scam
This one has been around for years. You get a message saying you've won a contest, lottery or sweepstakes event. Then you're asked to pay fees or taxes in advance in order to claim your prize.
2. Clickbait scam
Scammers use "clickbait" such as news stories, celebrity photos or fake news to get you to click on something that actually downloads malware that can harm your computer.
3. Robocall scam
This scam takes personal information such as your credit card number and promises to lower your credit card interest rates, but then charges fees to your card.
4. Government grant scam
This one requests fees so you can collect a government grant award for thousands of dollars. It may mention programs you've heard of in the news.
 5. Emergency or 'grandparent' scam
Often preying on older people, a scammer poses as a relative in a call or email claiming to have been injured, robbed or arrested while travelling overseas. They ask their target to send money right away.
6. Medical alert scam
This involves a call or a visit from a "company" claiming a concerned family member has ordered you a medical alert device in case of an emergency. The scammer takes credit card or banking information, but never delivers the device.
7. Copycat website scam
Scammers send an email, text or social media post about a sale or exciting new product, linking to a website that looks like a legitimate retailer. After you place an order using your credit card, you get a cheap counterfeit product or nothing at all.
8. 'Are you calling yourself?' scam
This trick puts your number in so it shows up as on your own on your phone's caller ID, which causes many people to answer the phone or return the call.
 9. Tech support scam
A call or pop-up ad on your computer claims to be from a computer company like Microsoft or Apple about a problem on your computer and asks you to give the tech support department access to your hard drive to fix it. Instead, malware is installed on your computer and the scammers can then steal your personal information.
10. Arrest scam
This trick starts with a call from someone claiming to be a police officer or government agent — often the Canada Revenue Agency — who say they are coming to arrest you for overdue taxes or for skipping out on jury duty. They claim you can get out of it by sending them money via a prepaid debit card or wire transfer. CRA does not do business in this fashion.
Credit rating company Equifax suggests checking your credit report at least once a year and reporting discrepancies immediately. Using strong passwords, activating the firewall on your computer, and never giving out personal information unless you have initiated the contact are some of the top tips to avoid fraud.
https://ca.finance.yahoo.com/news/top-10-scams-canada-135600509.html
|
|
|
The Bulletproof Diet
by Dave Asprey
 Recently I was listening to a podcast in which a professor from a South Florida University was discussing the benefits of the ketogenic diet. One thing that caught my ear was the statement that said “we were able to reverse a type II diabetic in two weeks using the ketogenic diet”.
This prompted me to inquire with our client Tyler Witthoeft, who owns Active Body Nutrition in Burnaby, BC. Tyler is an experienced bodybuilding champion and when I asked him about the ketogenic diet, he recommended I talked to his wife Andrea. Andrea practices the ketogenic diet, and referred me to the book “The Bulletproof Diet”.
I was fascinated to learn of the origins of this diet and how a young Internet millionaire came to experience the benefits of putting butter in your coffee. No that's not a misprint, I really did say butter.
Every morning I get up and have the most delicious coffee made with grass fed butter and MCT oil. I blend the coffee and the butter which completely satisfies my appetite until noon without having to eat any further foods. Lunch and dinner are predominantly meats and vegetables with no breads or pasta’s. I immediately noticed an increase in daily weight loss, but more importantly a noticeable increase in energy and focus.
This book is very well written and gives you the scientific basis of why eating this way works. If you want more energy or wish to lose a few pounds, I would heartily recommend reading the Bulletproof Diet.
Be sure to watch the video below where I introduce our advisor, Lane Cuthbert, to his first ever coffee with grass fed butter.
The video speaks for itself.
Dan.
Purchase this book at Amazon.ca online.
|
|
|
|
WATCH:
Loney Financial advisor, Lane Cuthbert, tries Bulletproof Diet coffee for the first time.
Mind-blowing :)
|
|
|
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.
|
|
|
|
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.
|
|
|
I have always been a Red Sox fan, sorry Blue Jay fans. Joy and I enjoyed a wonderful evening in right field in the Barbecue Pit at Fenway Park, Major League Baseballs oldest park - Dan.
|
|
|
COOKING WITH DENISE & ALYSHA
|
|
|
Denise Bailey our Client Services Coordinator and Alysha Smith our Executive Assistant bring you a delicious monthly recipe from their renowned portfolios.
THE ORIGINAL BULLETPROOF® COFFEE
Power your busy day with a cup of Bulletproof Coffee for energy and mental focus, and free yourself from food cravings.
 Enjoy. Denise and
Alysha :)
Ingredients & Method:
-
Start with 8 oz. (237 ml.) of ltered water, fresh off the boil.
-
Add 2 1⁄2 tablespoons (37 ml.) freshly ground Bulletproof® Coffee Beans and brew using your preferred method. French Press is Dave’s favorite!
-
If you are new to Bulletproof Coffee, add 1 teaspoon (5 ml.) Bulletproof® Brain Octane to
8 oz. (237 ml.) of hot coffee. Gradually increase the amount each day to
reach 1–2 tablespoons (15–30 ml.) per cup.
-
Add 1–2 tablespoons (15–30 ml.) grass-fed unsalted butter.
-
Mix it all in a blender for 20–30 seconds until it is frothy.
-
Power up your coffee by blending in any or all of these Bulletproof extras:
• A tiny pinch of Bulletproof® VanillamaxTM
• 1 Tablespoon Bulletproof® Chocolate Powder
• 1 to 2 Tablespoons Bulletproof® Collagen Protein
http://loneyfinancial.com/pdf/bpcrecipe.pdf
|
|
|
|
|
Solutions Magazine
Generations in transition - MILLENNIALS, THEIR PARENTS and the journey towards financial independence.
Read More (PDF) >
|
|
|
|
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 >
|
|
|
|
|
|
|
|
|
|
