I attended the Freedom Trader Intensive seminar recently. There were 600+ people in attendance.
Courtney Smith, the stock trading Guru, taught us how to pick the best stocks to invest in, when to get in and the best time to get out. He made it look so simple, but it was mind blowing.
The information provided could potentially help you to earn millions, if you follow the rules.
This seminar is invaluable for anyone who is interested in this topic. The next one will be held in January 6-7, 2012.
Please click on the following link for more information.
http://www.peakambassador.com/cmd.php?af=mmi7116&p=1
Pauline Bourne, F.L.M.I.
Your Finance & Family Consultant
Friday, July 1, 2011
Tuesday, May 31, 2011
The Millionaire Mind Seminar
This is an incredible 3 day seminar, that will help you identify and change your negative and limiting thoughts about money.
You get to meet some terrific people and develop some great relationships.
You will learn
. How the rich think vs how the poor think
. To act in spite of fear
. Earn passive income and become financially free
. Learn an effective money management system
. Create positive beliefs about money
. Develop a millionaire mindset
. And much more
When you become financially free you will be able to donate money to help others.
Also, you can choose to work if you want to, not because you have to.
To reserve your spot please click on the link below.
http://www.peakambassador.com/cmd.php?af=mmi7116&p=1
You get to meet some terrific people and develop some great relationships.
You will learn
. How the rich think vs how the poor think
. To act in spite of fear
. Earn passive income and become financially free
. Learn an effective money management system
. Create positive beliefs about money
. Develop a millionaire mindset
. And much more
When you become financially free you will be able to donate money to help others.
Also, you can choose to work if you want to, not because you have to.
To reserve your spot please click on the link below.
http://www.peakambassador.com/cmd.php?af=mmi7116&p=1
Pauline Bourne, F.L.M.I.
Your Finance & Family Consultant
Wednesday, March 23, 2011
Six Money Blunders To Avoid
Posted by Pauline
These guidelines still make sense. Taking control of your finances and reducing expenses is definitely the way to go.
By Gordon Powers, July 21, 2009
Watch for costly money mistakes. Every dollar you avoid throwing away brings you a step closer to your financial goals.
When it comes to money, most of us like to think we're pretty sharp. We know enough to comparison shop, stay out of debt and set up some sort of savings plan. Sometimes though, we just get things wrong.Last year, Consumer Reports highlighted how making poor choices can cost you. Some of the blunders identified were more applicable to U.S. investors but here are a few that apply equally in Canada.
Investing too conservatively during retirement
Conventional wisdom suggests that as you age, you should shift money out of stocks and into more stable investments, such as bonds. For instance, a popular rule of thumb is to subtract your age from 100, the difference being the percentage of stocks you should keep in your portfolio. Being too cautious once you retire can hurt you though, Consumer Reports suggests. Annual returns on bonds may barely keep pace with inflation, while stocks typically provide returns that do.
* Even in retirement, be sure to keep as much of your money in stocks as your comfort level allows.
Retiring too early
Attractive as it may seem, early retirement may mean leaving too much money on the table. First, you give up income you would have earned during what might be the best-paid years of your career. Retiring early can also result in sharply reduced pensions, including CPP, as well as lost benefits. Since OHIP and other provincial plans don't cover many health costs, you'll have to search out individual health insurance at an age when costs are much higher.
* If you're in good health and have a choice about when to retire, consider waiting until you're a bit closer to full retirement age.
Getting divorced
If divorce is unavoidable, make sure you take steps to reduce the financial impact. Hiring lawyers can ensure everyone's interests are represented, but the more issues spouses want to contest, the more billable hours they face. Consumer Reports found that a low-conflict divorce can generally be mediated for about 75 per cent less than going to trial. Since the intensity of the conflict is the major driver of legal costs, work more toward diplomacy than war. Lower-cost mediation works best when both parties are on a fairly equal financial footing and are able to work together without acrimony.
* Property settlements generally mean a 50-50 split in most provinces. Find a way to get along on custody, the most contentious and therefore expensive issue.
Adopting a healthy lifestyle
Unhealthy habits mean higher life-insurance premiums. Consumer Reports compared the costs of a $1 million term insurance policy for a 40-year-old, healthy male with one who had one of several risk factors often associated with poor health habits, including smoking. The additional costs in premiums for higher-risk men worked out to roughly $42,000 over the subsequent 20 year period.* Before applying for life insurance, consult a doctor about the best ways to bring your vital stats in line with the "preferred plus" underwriting requirements.
Underfunding your retirement
The only way to make RRSPs really work is to start contributing early. A longer time horizon creates more tax-deferred income through the power of compound interest. Look at it this way: At age 20, George makes his first RRSP contribution — depositing $1,000 into his plan and contributing the same amount each year until age 65. Assuming an average rate of return of 5 per cent, the value of George's RRSP at 65 is $167,685. His older brother Raymond doesn't get started in an RRSP until he's 30 years old, depositing the same $1,000 and making the annual contributions until age 65. At the same return but with less time to compound, Raymond will end up with just $94,836 - $72,849 less than his little brother.
* Contribute as much as you can afford to your RRSP and don't miss out on the catch-up provisions if you fall behind.
Underinsuring a home
If you've lived in the same house for at least 10 years, it's likely worth much more than you paid for it. But if you haven't updated your homeowners insurance and disaster strikes, you could lose those gains. Some insurers automatically increase your policy limit each year to reflect inflation changes but others don't. Be sure to review specific items as well. For example, if you purchased extra insurance coverage a few years ago for a high-end bike, you may want to reconsider now that the bike has depreciated in value.
* Check out an inflation-protected policy. Make sure it would pay to rebuild according to the current housing standards in your area.
Carrying a credit card balance
Owing money on a credit card is a costly mistake that can take an incredible toll. If you have a card with an interest rate of 15 per cent and you pay only the minimum due each month, it will take you 22 years and 2 months to retire a $5,000 debt, and you'll have paid $5,729 in interest, CR calculates.
* Use credit cards for their convenience but plan to pay off the balance in full every month.
These guidelines still make sense. Taking control of your finances and reducing expenses is definitely the way to go.
By Gordon Powers, July 21, 2009
Watch for costly money mistakes. Every dollar you avoid throwing away brings you a step closer to your financial goals.
When it comes to money, most of us like to think we're pretty sharp. We know enough to comparison shop, stay out of debt and set up some sort of savings plan. Sometimes though, we just get things wrong.Last year, Consumer Reports highlighted how making poor choices can cost you. Some of the blunders identified were more applicable to U.S. investors but here are a few that apply equally in Canada.
Investing too conservatively during retirement
Conventional wisdom suggests that as you age, you should shift money out of stocks and into more stable investments, such as bonds. For instance, a popular rule of thumb is to subtract your age from 100, the difference being the percentage of stocks you should keep in your portfolio. Being too cautious once you retire can hurt you though, Consumer Reports suggests. Annual returns on bonds may barely keep pace with inflation, while stocks typically provide returns that do.
* Even in retirement, be sure to keep as much of your money in stocks as your comfort level allows.
Retiring too early
Attractive as it may seem, early retirement may mean leaving too much money on the table. First, you give up income you would have earned during what might be the best-paid years of your career. Retiring early can also result in sharply reduced pensions, including CPP, as well as lost benefits. Since OHIP and other provincial plans don't cover many health costs, you'll have to search out individual health insurance at an age when costs are much higher.
* If you're in good health and have a choice about when to retire, consider waiting until you're a bit closer to full retirement age.
Getting divorced
If divorce is unavoidable, make sure you take steps to reduce the financial impact. Hiring lawyers can ensure everyone's interests are represented, but the more issues spouses want to contest, the more billable hours they face. Consumer Reports found that a low-conflict divorce can generally be mediated for about 75 per cent less than going to trial. Since the intensity of the conflict is the major driver of legal costs, work more toward diplomacy than war. Lower-cost mediation works best when both parties are on a fairly equal financial footing and are able to work together without acrimony.
* Property settlements generally mean a 50-50 split in most provinces. Find a way to get along on custody, the most contentious and therefore expensive issue.
Adopting a healthy lifestyle
Unhealthy habits mean higher life-insurance premiums. Consumer Reports compared the costs of a $1 million term insurance policy for a 40-year-old, healthy male with one who had one of several risk factors often associated with poor health habits, including smoking. The additional costs in premiums for higher-risk men worked out to roughly $42,000 over the subsequent 20 year period.* Before applying for life insurance, consult a doctor about the best ways to bring your vital stats in line with the "preferred plus" underwriting requirements.
Underfunding your retirement
The only way to make RRSPs really work is to start contributing early. A longer time horizon creates more tax-deferred income through the power of compound interest. Look at it this way: At age 20, George makes his first RRSP contribution — depositing $1,000 into his plan and contributing the same amount each year until age 65. Assuming an average rate of return of 5 per cent, the value of George's RRSP at 65 is $167,685. His older brother Raymond doesn't get started in an RRSP until he's 30 years old, depositing the same $1,000 and making the annual contributions until age 65. At the same return but with less time to compound, Raymond will end up with just $94,836 - $72,849 less than his little brother.
* Contribute as much as you can afford to your RRSP and don't miss out on the catch-up provisions if you fall behind.
Underinsuring a home
If you've lived in the same house for at least 10 years, it's likely worth much more than you paid for it. But if you haven't updated your homeowners insurance and disaster strikes, you could lose those gains. Some insurers automatically increase your policy limit each year to reflect inflation changes but others don't. Be sure to review specific items as well. For example, if you purchased extra insurance coverage a few years ago for a high-end bike, you may want to reconsider now that the bike has depreciated in value.
* Check out an inflation-protected policy. Make sure it would pay to rebuild according to the current housing standards in your area.
Carrying a credit card balance
Owing money on a credit card is a costly mistake that can take an incredible toll. If you have a card with an interest rate of 15 per cent and you pay only the minimum due each month, it will take you 22 years and 2 months to retire a $5,000 debt, and you'll have paid $5,729 in interest, CR calculates.
* Use credit cards for their convenience but plan to pay off the balance in full every month.
Thursday, July 29, 2010
Term Insurance Vs. Permanent Insurance
You have probably heard that you should buy Term Insurance because it is cheaper than Permanent Insurance.
Term Insurance, as the name implies, is for a specific period (i.e. 10, 20 years), or up to a certain age. At the end of that period the policy terminates, or you may be given the option to renew it for a further period, or to convert it to a permanent policy. It is important to note that many Term policies cannot be renewed after a certain age, and that every time a policy is renewed the premium increases, based on current age. So, how much are you really saving by choosing Term over Permanent?
Term insurance is ideal to cover mortgages or credit card balances, but if you want insurance coverage for lifetime permanent insurance should be considered.
Permanent insurance products include Universal and Whole life policies. The premiums start out higher than Term policies, but remain the same throughout the contract.
Whole life policies accumulate cash values, which can be used to
(a) purchase a paid-up policy if you become financially stressed
(b) obtain a policy loan
(c) secure a loan, through a collateral assignment
With Universal Life policies there is flexibility where premiums are concerned. You can pay more than the minimum required and decide how you want the excess premium invested.
Remember, insurance is not a one-size-fits-all deal so, get the facts and choose the kind that best suits your needs.
Pauline Bourne, F.L.M.I.
Your Finance & Family Consultant,
Term Insurance, as the name implies, is for a specific period (i.e. 10, 20 years), or up to a certain age. At the end of that period the policy terminates, or you may be given the option to renew it for a further period, or to convert it to a permanent policy. It is important to note that many Term policies cannot be renewed after a certain age, and that every time a policy is renewed the premium increases, based on current age. So, how much are you really saving by choosing Term over Permanent?
Term insurance is ideal to cover mortgages or credit card balances, but if you want insurance coverage for lifetime permanent insurance should be considered.
Permanent insurance products include Universal and Whole life policies. The premiums start out higher than Term policies, but remain the same throughout the contract.
Whole life policies accumulate cash values, which can be used to
(a) purchase a paid-up policy if you become financially stressed
(b) obtain a policy loan
(c) secure a loan, through a collateral assignment
With Universal Life policies there is flexibility where premiums are concerned. You can pay more than the minimum required and decide how you want the excess premium invested.
Remember, insurance is not a one-size-fits-all deal so, get the facts and choose the kind that best suits your needs.
Pauline Bourne, F.L.M.I.
Your Finance & Family Consultant,
Thursday, May 20, 2010
Critical Illness Insurance
Most of the time we focus on what would happen to our family if we die. We seldom stop to think about what would happen if we are diagnosed with a critical illness, like cancer, heart attack or stroke.
Having a critical illness can be very traumatic. On top of that, the loss of income while recuperating, medication expenses and home help can be very costly.
To help cover those costs, some people are forced to take money from their RRSPs and other savings plans, resulting in less funds being available for retirement.
The answer to this problem is Critical Illness insurance. It provides you with a tax-free, lump sum payment 30 days after the diagnosis of a critical illness, and allows you to recover completely without financial worries.
So give your family some peace of mind by applying for your critical illness policy today. I look forward to hearing from you.
Pauline Bourne, F.L.M.I.
Your Finance & Family Consultant
Having a critical illness can be very traumatic. On top of that, the loss of income while recuperating, medication expenses and home help can be very costly.
To help cover those costs, some people are forced to take money from their RRSPs and other savings plans, resulting in less funds being available for retirement.
The answer to this problem is Critical Illness insurance. It provides you with a tax-free, lump sum payment 30 days after the diagnosis of a critical illness, and allows you to recover completely without financial worries.
So give your family some peace of mind by applying for your critical illness policy today. I look forward to hearing from you.
Pauline Bourne, F.L.M.I.
Your Finance & Family Consultant
Friday, April 9, 2010
Non-Medical Insurance
Do you know someone who was declined for insurance that requires medical tests, or simply doesn't want to be bothered going through medical testing?
Well, non-medical insurance is the answer.
Non-medical means that no blood tests, urine tests or medical exams are performed; however, you will be required to answer a few health-related questions to qualify.
With this type of insurance, if death occurs within the first two years your beneficiary will receive a refund of the premiums paid, plus interest. After two years the full face amount is paid out.
If you, or someone you know, have health concerns and require insurance coverage, please contact me to get the best rates possible.
Pauline Bourne, F.L.M.I.
Your Finance & Family Consultant
Well, non-medical insurance is the answer.
Non-medical means that no blood tests, urine tests or medical exams are performed; however, you will be required to answer a few health-related questions to qualify.
With this type of insurance, if death occurs within the first two years your beneficiary will receive a refund of the premiums paid, plus interest. After two years the full face amount is paid out.
If you, or someone you know, have health concerns and require insurance coverage, please contact me to get the best rates possible.
Pauline Bourne, F.L.M.I.
Your Finance & Family Consultant
Saturday, January 30, 2010
RRSP Savings
It's that time of year again, RRSP season is here.
March 1st is just around the corner, so top up your RRSP as soon as possible.
Don't have an RRSP yet? Consider starting one soon, as contributions
are tax-deductible and could result in a tax refund.
Pauline Bourne, F.L.M.I.
Your Finance & Family Consultant
March 1st is just around the corner, so top up your RRSP as soon as possible.
Don't have an RRSP yet? Consider starting one soon, as contributions
are tax-deductible and could result in a tax refund.
Pauline Bourne, F.L.M.I.
Your Finance & Family Consultant
Subscribe to:
Posts (Atom)
Posts
