Weekend Money “OPEN SUNDAYS”

Me and My Money
Open Sunday’s

A potential client recently said he had no money in the budget for any sort of  advertising but asked how the markets were. I wasted no time and quipped it depends how your marketing is. Everyone somewhere is doing great, really well, better than expected or tell you the truth business sucks.

At this point you cannot tell any potential, advertiser exactly what you think. That is not the matter; in fact it doesn’t matter at all what you tell this person they have already made up their mind. Spending less time and effort on people that waste your time is only a learning experience to get to yes. Everyone has to make money at some point and there ain’t no shame in that.

People have all different kinds of ideas and concepts about money and very few people have it or enough of it. I will endeavor to make money in some way or fashion that does not cause me to work hard. And so anytime is a good time to make money and to make money hand over fist is an art unto itself and money its own reward.

There is a difference between the have’s the have nots and the haves too much and you may lavish, squirm or just pass by. Awkward at best no one wants to talk about money, I suppose the one’s that have it have no reason to complain aloud. There are some that know, some that try and a few that know and try and fail and the one’s that ultimately triumph through trial and error and trials and tribulations.

You know something more than the others; more precisely more than most, you know more than a little, you know a lot. I am willing to work for money as long as I don’t feel I hate it and want to give up writing, sharing and communicating at such a slow speed.  I do spend charitable time working and need to make real money not unlike thousands of other hard working Canadians.  Part time money, ain’t no shame in that. So I am going to blog, talk and communicate some ideas and thoughts that people would really want to know about; the inner working of money in play and work. So this new post, section, category called “Weekend Money” is dedicated to any one who works one or two jobs or even three to make up for your local economy than this is dedicated to you. “You and Your Money” could not be a better salute to hard workers everywhere.

I will work part time on week-ends here and there and I will think of you and your industrious nature to make money, enough money and then more than enough money to share perhaps.  Let’s see maybe I will get back to you next week or maybe pay someone to do it. I may even quit by next week . My point was that the Bank of Montreal recently renovated a location near me in grand fashion and announced in a giant blue and white banner “OPEN SUNDAYS”.

Everyone is working harder for the same money or less as cost rise…yes its sounds terrible. I should hope to get paid for news, reviews and interviews that matter most to you and your money. Please allow me enjoy what I do for a living and at the same time put in a little extra time, over time or a few bucks on the side rather than call it work. I will see you here at the same time and the same place for the next “pay for” newsworthy article for MONEY unless I am fired for moonlighting or laughing all the way to the bank after church.

I have to mention my day job; as the guilt is settling in. I am responsible for online editing for MONEY.CA and publication articles for Money Magazine. I am not sure if I should be using this powerful system on week-ends and especially Sunday’s. It may not be official as nothing of the sort has been done before, so please don’t get us in trouble and try not to let anyone know about what we are doing its weird but I just don’t want people to know I work part-time.

James Dean

 

 

MONEY-CA.COM Stand on Guard for Thee

Me and My Money - MONEY CA
Me and My Money – MONEY-CA.com Stand on Guard for Thee

MONEY CA – money.ca a Canadian website often confused because of the .ca many North Americans confuse the CA for California State in the United States of America. In fact the .ca is the Canadian international brand for websites recognized worldwide and CIRA the Canadian Internet Registry Association registers and administers Canadian sites in Canada.

This letter, communication and challenge are put out there to not only recognize MONEY-CA as Canadian but to let popular search engines like yahoo google and bing accept us as a distinct nation and county that has its own currency.  Often times Canada a lower populated country beside the Americans is geographically larger than the U.S.

The American economy is considered to be much larger because of it’s population and a large tax paying base of citizens. Canada small, quiet and cool a nice place to visit one of the greatest places on the earth to live. Canadians do have a highly skilled work force are often influenced by America and Americans. Canada is in fact a world player and a G8 nation with an abundant amount of natural resources that many other countries envy.

MONEY.CA is the online destination place for money, finance and financial literacy for many Canadians, Americans and International followers.  Without goal tending and red tape MONEY.CA should and ought to be placed and ranked highly on any world-wide search engine or listing. Yaho0 google bing and youtube along with a few other social media companies like Facebook, Twitter and LinkedIn are considered to be the Internet where you are supposed to find good, important and relative information based on your search request.

MONEY.CA and money-ca.com are one in the same and the message is clear here we are and welcome to MONEY.CA Truly we accept all denominations of money and people. The way we go about our business to get your attention when Search Engines fail to do their job and rank top sites with good content high. When goal tending and pay for service enters the picture then greed and not service are the winners.  Find us any way you can and when you do make a marker, create a favorite and tell others in person or online that MONEY.CA is here and where not moving off the Internet or out of Canada. And so the next time you see any of our sites that crawlers miss we can be found in the places that you would in fact most likely look.  MONEY.CA is the main benefactor of important prominent keyword sites like MONEY-CA.com CA-MONEY.COM Canadian-Money.com and Money-Canada.com stand on guard for thee both locally across Canada and throughout the world we should be found at our usual address and placed prominently and according.

MONEY.CA number one on yahoo google bing and youtube including others is the only goal for MONEY to be found and not lost for any reason. Follow our trend to the top for getting better quality content and information to you, your money and your local search engine crawler.

 

 

 

 

Mortgage Seminar Toronto Airport Marriott – September 11, 2013

Media Release-News For: “The Mortgage Killer” Real Estate Seminar

TORONTO, ONTARIO–(Marketwired – Sept. 10, 2013) –

Editors Note: There is an image and a video associated with this press release.

Media ReleaseNews For: “The Mortgage Killer” and Real Estate Seminar

On Wednesday September 11th at 7:30 pm Charles S. Bell invites you to the one of a kind “Mortgage Seminar” that reveals the truth and thousands and hundreds of thousands of dollars of savings with simple, legal financial equalization action techniques. “The Mortgage Killer” financing that brings harmony to your life, assets and property.

Toronto Airport Marriott Hotel by popular demand – Charles Bell will be speaking about the truths and misconceptions of mortgages in Canada. Refreshments served RSVP featinc@financialequalization.com.

Anyone who has a Canadian mortgage owes it to themselves or their family to see if they qualify. Mortgages Canada not all mortgages and debt financing is the same in Canada. Do yourself a favor and learn more about what a difference a day makes. A top notch Canadian Real Estate Seminar highly recommended for the biggest element in property ownership “financing”.

Richard Kiernicki of MONEY sets the record straight about a revolutionary idea that can save thousands and the man who has the plan to do it.

On occasion when opportunity collides directly with preparedness, that moment, has often been defined as “luck”. I am lucky. Being open-minded and being an effective listener have, on quite a few occasions, provided an opportunity for luck to materialize in my life. I accepted an invitation from an acquaintance of mine to attend a small informal meeting a few weeks back to hear about an “opportunity”. There I was introduced to Mr. Charles S. Bell, President of Financial Equalization Action Techniques and Mortgage Killer Ltd. from Toronto, who made a presentation on a subject that, quite frankly I wish I had known about during the quarter century I offered financial planning services to my clients, called the Financial Equalization plan. Now I consider myself even luckier. Charles’ presentation was like a throwback to an era that existed before the creation of hi-tech presentations containing Powerpoint images and graphics that command such presence where the actual presenter can almost get lost somewhere in the hype. Charles was live, a mix of personal stories that led to the research and creation of the plan he masterminded along with a few unrelated vaudevillian style “stories” and jokes. He was genuine. You just got the feeling that this guy was honest, his word on a handshake, a trusted representative of an era slowly fading into history. When you are told that the power behind the creation of the plan was the direct result of great personal and family adversity you just know that Charles speaks directly from his heart. He will prove it! Affectionately known as “The Mortgage Killer” Charles obtained a copyright for the Financial Equalization Plan in 1987 from the government proving that it is the most unique and powerful plan in the mortgage and debt reduction industry. Since then, over 35,000 Canadians have used his process to save millions of dollars in mortgage and debt interest charges they were legally obligated to pay their lenders. This plan CANNOT be purchased. You can only apply to see if you will qualify. There are no fees or out of pocket costs for you to apply. If you do not qualify, you cannot participate. It is as simple as that. Well, with promises like that, I left the seminar determined to expose a fake. After all, when it seems too good to be true, most often it is too good to be true, right? I had to find the flaws. Even though I detest doing due diligence, I had to know. In summary, it’s all good.

Don’t miss this unique opportunity to meet Charles S. Bell the one and original great performer who challenged the government, the status quo, the queen and her representatives. Learn more about the thousands of well-to do and wanting to do better Canadians who have already successfully employed these important, legal techniques to make, save and preserve more money more often on the way to being debt free and equity rich.

To view the image associated with this release, please visit the following link: http://www.marketwire.com/library/20130909-MONEYimageLG.jpg.

To view the video associated with this release, please visit the following link: http://www.youtube.com/watch?v=7NYG6Yo9rII&feature=youtu.be.

Contact Information

  • Toronto
    416-626-8143

MONEY-CANADA.COM

Me and My Money
Me and My Money – News For MONEY

Money Canada Limited is proud to announce our online International partner for the Canadian online destination place of  MONEY.CA MONEY-CANADA.COM a website, a strategic alliance to go and get and keep the attention toward MONEY and then Canadian Money and then to harbor Canadian’s and also attract and retain the attention of foreign investors and International money to our online investment marketplace and real investment advisors, facilities, services and opportunities.

MONEY-CANADA.COM sole intention is to be remembered and not forgotten when it comes to MONEY or Canada our purposes can be served in this stand on guard manner. The world of money is a big place and who if not us can get, interpret and present it best for the best of known needs and privilege of Canadians and equally to under-served communities. MONEY-CANADA.COM has a need to protect our distinct nation, independent currency and colorful money and robust economy.

MONEY.CA keeps the interest and concern going for both Canadian Financial Literacy and less greedy pursuits of helping individuals make, save and preserve more of their money.

Join us! donate, volunteer, contribute or advertise and promote all for the right reasons. Please note MONEY-CANADA.COM and CANADIAN-MONEY.COM stand on guard for thee and represent Internationally 24-7. MONEY.CA is held in high regard with the unique ability to communicate money, personal finance and financial literacy at its highest capacity with your social media, movement and currency. info@money.ca 1-800-789-1011 – We have the financial content, can do the financial advertising and can achieve measurable results beyond your expectations. Call 416-360-0000

 

 

www.money.ca the online destination place for Canadians their money, personal finance and financial literacy

me and my money
me and my money

MONEY a big important and meaningful subject, a lot to cover for anyone in any way shape or form. Where do you start with with a purposefully designed website like MONEY.CA. The money namesake is a great start and “Canadian Money as a focus would be a great place to begin. Not to cover everything and be all to everyone the most common ideas and concepts are central. Personal Finance everyone has it in common, it may be the difference of planning to have money and having to live without it.

Many people may be blessed with wealth and inheritance but good judgment is not often passed down with money. So if you just inherited the farm, won the lottery or are like the most of us and have to use our good judgement and rely on hard work then this is the place for you.

Whether you are a new immigrant to Canada, a student or a seasoned advisor you can still tune in to learn more. MONEY.CA online is on a continuous odyssey of learning, sharing and growing. Canadian Financial Literacy is an important area that needs attention; many have tried and more have talked about and little impact is made and the gaps still grow wider and even more unattainable.

This is Money Canada Limited’s raison d’etre to grow as a smart profitable organization that helps more  Canadian’s succeed in the local economy for a better and higher standard of living for more people sooner. To get involved and donate or contribute or collaborate learn more at money@info.ca or go to money.ca and simply tell others about a grass roots movement set to catch a-fire.

MONEY CA – CA MONEY

click-to-call from the web

 

 

A New Approach to Pension Design

In 2008 the Alberta/BC Joint Expert Panel completed its work on suggested pension reforms. Alberta passed Bill 10 implementing the majority of the suggestions and is expected to release the enabling regulations sometime this summer. There are a number of positive changes in the legislation, but the change that could transform the pension landscape across Canada is the introduction of the target benefit plan.

Pension plans have traditionally been defined benefit plans, which deliver known benefits to plan members, with contributions varying depending on plan experience. The longevity risk, interest rate risk, and investment risk are all borne by the plan sponsors. During the 90s when plans experienced significant return on assets plan sponsors were happy to continue with this arrangement. When the investment returns diminished and low interest rates lead to significant increases in liabilities the risks being borne by sponsors became far more apparent.

Numerous court decisions have also eroded the ability of sponsors to benefit in cases where results exceeded expectations, yet leave them responsible for providing additional funding to plans in cases where results were worse than expected. Plan sponsors in the private sector are understandably unwilling to continue sponsoring this type of arrangement.

The main deterrent from a company perspective is not the increased costs, but the increased volatility of costs, which is attributable mostly to the interest rate risk.

This led to the growth of the defined contribution plan, in which a sponsor provides predictable contributions towards a pension plan, but the ultimate benefit will depend on plan experience. The risks in this case are borne by the plan member. This works well for the plan sponsors but the consequences of the inadequate pensions provided by these plans are only in the infancy of being realized. DC plans do a poor job of mitigating longevity risk and have historically produced lower returns than DB plans.

Like so many other issues, the pendulum has swung from one position, of all DB plans, to the other extreme, in which new plans are almost entirely DC plans. What is required is a middle ground that mitigates the risks to plan sponsors, while not shifting the burden entirely to the plan member who is ill equipped to cope. The target benefit plan is designed to precisely that.

The target benefit plan aims to provide a defined benefit, however it does not obligate sponsors as a DB plan does. Instead, if needed, benefits can be reduced based on the funds available to provide the benefits. This shifts some of the risk to the plan members. This is not ideal for the members, however it is better than the alternative in which sponsors are unwilling to sponsor a plan. The new legislation includes measures to improve benefit security, such as stochastic risk based reserve calculations, that provide a high probability that the benefits will be provided, rather than forcing the sponsors to guarantee the benefits.

The death of the traditional DB plan has been evident for many years, but there has been no reasonable alternative. Some steps have been made towards introducing target benefit plans, but the Alberta legislation is the first that can be applied to any sponsor and will allow for innovative ideas to help restore the health of the Canadian pension system.

Ryan Wall

Confessions of a CFP: Homeownership is not for everyone

One of the biggest purchases that people will make in their lives is the purchase of a home.  From the time we are young we are taught to save money and purchase a home because it’s a good investment.  As a financial planner I have to admit that this is not always true.

Buying a home creates an expensive debt.  Hopefully it also creates a more valuable asset, but once again this is not always true.  The decision to buy a home is a personal choice and the reasons to do so – or not do so – depend on your personal goals, your budget and your personal financial situation.

Some people think that paying rent is a waste of money but I tend to disagree. There are several benefits that come with renting an apartment versus buying a home:

 

The advantages of renting an apartment

Carefree living. When you rent an apartment you don’t have to worry about, well anything.  One of the main advantages of renting an apartment is that you have no responsibility to maintain the premises.  If your drain gets clogged all you have to do is call your superintendant and they will send a plumber.  Renting an apartment is hassle free.

It’s easy to budget.  Paying rent is just one bill a month that you have to budget into your expenses.  I absolutely love this about renting –it’s simple and easy and that’s just the way I like to set a budget.  Whether it’s for myself or for my clients, an easy budget is one with the fewest expenses.  When you have too many expenses each month it’s easier to forget about the due dates and you can miss payments  – this doesn’t happen when you rent an apartment.

No long term commitment.  If you don’t like to plan for the future then renting an apartment is the best choice for you.  I love that fact that I can pack up my things and move away any time I want.  Committing to a five year mortgage term is not for me.  I love the flexibility and freedom that comes with renting an apartment.

 

The disadvantages of owning a home

The cost of maintenance.  Owning a home is a lot of work, both inside and outside the house.  I don’t know about you but dusting, vacuuming, shovelling snow and cutting grass is just not my thing, in my opinion this is a major disadvantage of owning a home.

All of the other expenses.  The down payment for your mortgage is only the first expense that comes with owning a home.  Afterwards there are several additional ongoing costs involved in homeownership such as taxes, utilities and the cost of furnishing a home.

What do you love about renting or owning? Tell us on Twitter @ TahnyaKristina

 

Photo by images of money

Together or Apart

 

Together or Apart?

 

Do you keep your money to yourself, the old what’s mine is MINE or do you share your finances and the responsibility with your partner?  This is a great conversation starter, which often evokes a highly emotional response.

 

Over the years I have met with couples and in the process of discussing values and personal /financial goals, there has come that awkward, frightening moment when I present the completed twelve month budget.  The responses have been memorable in the situations where each partner is keeping their finances separate.  I have shared in the sorrow, disbelief, and sheer panic as the full financial picture is revealed.  Honesty and openness is a must when dealing with finances as a couple.   I have come to the opinion that the most successful way to manage your finances as a couple is to utilize each other’s strengths and to make a plan where each person is held accountable.

 

Some people truly are not the least bit interested in finances and will live in a world of denial where they honestly do not know how, when or even IF the bills are paid!  You can ask them their mortgage interest rate or how they paid for their last vacation and they will just shrug because they have no idea.

 

So what is a success strategy that has been proven to work over and over again?  Both partners in the relationship have to take responsibility.

 

If you are not the one responsible for the finances (you know who you are) then here are your strategies for success which will reduce the questions and the arguments:

 

  1. Show your appreciation towards the one who is managing the finances;
  2. You MUST make yourself aware of the financial Goals.
  3. Know what the budgeted weekly amounts are for groceries, etc., and what account you access that money from.

 

For those of you managing the finances here are your success strategies:

 

  1. Have a system in place so your partner can easily access all the information without causing you stress.
  2. Have one account just for groceries, and spending money. Transfer in the weekly or bi-weekly amount into an account that each person can access with their debit cards. There is definitely NO overdraft protection attached to this account!  This is the easiest and most successful method I’ve seen.

 

My recommendation to all couples: discuss and plan who is going to be responsible for which bills, and to have a system in place that makes this a simple task.  Secrecy will not produce financial results; and living in ignorance will only result in frustration for one or both of you.

 

The solution? Teamwork and using each other’s talents.  I have client’s using this method for success.  The husband transfers money into both a savings accounts and a spending account (groceries and other expenses).He ensures that the bills are paid on time.  It doesn’t matter if 95% of these transactions are automatic debit: it still counts because he has taken ownership!!! The wife does the grocery shopping and takes out the spending money for the week for both of them.  They have agreed on set goals and each of them is motivated and feeling involved and appreciated.

 

The moral of this story?  Couples that work together planning and managing their financial future are the most successful, financially, and in their relationship as well.  Together or apart: you decide.

 

Laurie Lee

Goodcents Co.

 

How do you eat an elephant? Book Review

how to eat an elephant
Book Review: how to eat an elephant

 MONEY.CA Book Review

HOW TO EAT AN ELEPHANT: THE MONEY BOOK REVIEW

Written by Ian R. Whiting, Senior Editor

Not exactly what you had in mind when you think elephants but this analogy turned idiom is a great way to describe and explain the complexities of personal finance in an easy and manageable way.

Frank Wiginton has developed a reputation as an easy-to-understand financial educator and has written an interesting book entitled “HOW TO EAT AN ELEPHANT – ACHIEVING FINANCIAL SUCCESS ONE BITE AT A TIME” that includes access to a self-help website (http://www.howtoeatanelephant.ca) that takes people through his entire process. His chosen title is very appropriate as developing a sound financial plan is perceived as a daunting exercise for most people.

Frank uses a variety of stories and scenarios to share his thoughts and perspectives on each part of your plan. Frank takes people through a logical process beginning with setting goals followed by that most feared word – budget! To his credit, his process helps relieve people of the much of the stress that often accompanies this challenging exercise.

Frank takes his readers on a journey through all of the important parts of a sound plan including debt and cash-flow management, life and disability insurance along with critical illness and long term care needs. He discusses pensions and other retirement resources including OAS and CPP/QPP, your RRSPs and TFSAs. He provides sound guidance on savings for education requirements and the legal niceties required to ensure our wishes are carried out in the event we are unable to act for ourselves and after we pass away.

After reading the book, I came to a series of conclusions about his process and style:

a) he emphasises that achieving your own definition of financial success is a journey, not a destination;

b) each person is accountable for their own successes and failures;

c) working with a professional team of advisors will reduce your overall level of risk of failure and enhance your probability of success, but you can’t abdicate your own responsibility to your team;

d) common-sense is your greatest ally;

e) you need to have patience – starting with the patience to devote time each month to your own financial affairs; and

f) you need to monitor your progress regularly against your goals and make needed adjustments as soon as the need becomes apparent.

Like every effective author, Frank has strong personal beliefs and has done a very good job at sharing them with his readers. Even if you choose not to agree with his perspective or views, the process he uses to explain each part of the plan ensures that you go through a logical evaluation of the various options before making a decision rather than shooting from the hip.

Throughout the book, there are “One Frank Thought” boxes in which his personality shines through while sharing some unique perspectives on the topic in question – they add greatly to both the material and the concepts he presents.

A very worthwhile investment of $21.95 plus taxes is available at fine retail establishments including Chapters and Indigo through Wiley and Sons Limited http://ca.wiley.com/WileyCDA/ the publisher or www.howtoeatanelephant.ca.

To view the photo associated with this press release, please visit the following link: http://www.marketwire.com/library/20130425-How_To_Eat_An_Elephant_ORIG.jpg

To view the video associated with this press release, please visit the following link: http://www.youtube.com/watch?v=VySIxLCtQsk

Should You Contribute to Your RRSP?

There are two advantages to RRSP investing. The first is tax deferred growth, which allows the effects of compounding to grow your assets far in excess of non-sheltered assets. The second is the assumed reduction in your personal tax rate at older ages when the assets will be withdrawn. Both of these benefits may not be as advantageous as they used to be.

RRSP funds should be invested in income generating assets, such as bonds and GICs, which would attract the most tax outside of an RRSP. Assets which return capital gains are best kept outside of the RRSP due to the more favourable tax treatment of those gains. With interest rates at multi-decade lows, and projections that these rates will continue for the foreseeable future, compounded growth will be severely hindered.

With growing government debt loads and lower projected growth rates, we also face the real potential for higher taxes. This may be especially true with respect to retirement assets, which will draw the attention of future politicians struggling to pay for the debt load which, as far as many voters will be concerned, was created by a wealthy retired class.

In analyzing a retirement strategy, it would therefore be prudent to consider the possibility of low investment returns, and higher tax rates. For instance, a 50 year old, earning only 3%/year, with a marginal tax rate increasing from 46% to 60%, by age 71 would have been slightly better off without an RRSP. Assuming investments are based on capital gains the RRSP effectiveness drops significantly.

Most scenarios for the future do still show RRSP investing to be beneficial, especially if it is likely that you will find yourself in a lower tax bracket at retirement. Nonetheless, based on age, investment return, and future tax rates, there will be a percentage of Canadians who would have been better off without registered assets. Those fortunate enough to expect to remain in the top tax bracket should consider whether deregistering all of their assets now would reduce their total tax bill, if tax rates do increase in the future.