Three Sixty Financial Group

The Vancouver Sun: Small Business

Wed, 28 Jul 2010 00:00:00 GMT

We made it into the Sun again - check out the article!

The Vancouver Sun, July 28th 2010

How to save money on your Life Insurance!

Wed, 21 Jul 2010 00:00:00 GMT

There are 3 main things that affect your insurance rates:

Your Age
Whether or not you smoke
Your Health

In order to save money on the cost of your life insurance or critical illness insurance, it is best to get a policy in force as young as possible. We always advise our clients to lock in a permanent policy as soon as possible to guarantee themselves the lowest rates. As you get older, the higher your cost of insurance is (as you are more of a risk for the insurance company) and furthermore, as you age your health starts to decline so any sign of a health problem will cause higher insurance premiums as well.

Smoking status – this is a tricky one. We often get clients that say – “yes of course I don’t smoke, well except for you know the odd cigarette or cigar when I have a drink or two”. Well being classified as a NON SMOKER means absolutely NO smoking at all. You must be completely smoke free for at least 6 months, without even so much as a puff.

The difference between the rates for a smoker and non-smoker can be quite dramatic, for example:

The rate for a 35year old male, 10yr Term for $500,000 (Manulife):

Non-Smoker = $30.88/month
»» Smoker = $55.36/month

The rate for a 35year old female, 10yr Term for $500,000 (Manulife):

Non-Smoker = $23.78/month
»» Smoker = $40.88/month

Therefore, if you have quit smoking and haven’t reviewed your insurance coverage, I urge you to do so right away as you may be leaving money on the table. We recently met with a client who quite smoking 2 years ago and has since had another child. By changing him to a non-smoker, we were able to double his coverage and still lower is monthly premium!

Your health… this is something we all take for granted, we hear this all the time “oh yeah, I’m going to be healthy forever, I don’t plan on getting sick”. Well I’m pretty sure if you ask anyone that has been diagnosed with a serious disease that this was not in their plan either. Do what you can to stay fit, healthy, and in great shape so that when you do apply for insurance you are eligible for the best rates.

So what can you do? Lock in your rates while you are young and healthy and don’t smoke!

Exercise regularly and eat smart to help maintain your good health. However, sometimes even that is not enough to avoid getting sick, so make sure you have good coverage in place, just in case.

Group Benefits: The ins and outs

Tue, 29 Jun 2010 00:00:00 GMT

This blog update comes thanks to Chris Day of Fully Managed. I sat down with Chris a while ago and he suggested I write a post about the ins and outs of group benefits since most people are not in the know.

So….here it is!

A group benefit plan is an extended health plan for a group/company with 3 or more employees. The advantage of a group benefit plan is that insurance can be offered to individuals with no discrimination as there is no medical underwriting on groups with 3 or more people. The other advantage is that the premiums are tax deductible to the company making extended health coverage an affordable business expense. (You do want to pay attention to how premiums are paid as they will have tax consequences to the employee; premiums paid by the employer are considered a taxable benefit).

How are the rates calculated?

Typically, the rates are based on the company’s total usage (or expected usage for a new company). For new companies, the rates are determined by comparing the demographics of the applying company to a similar company in the same industry. The rates are based per employee and depend on their salary, job description, sex, age, and marital status. Rates for single individuals are usually less than half the amount of rates for a married individual with a spouse and/or kids to cover.

As insurance carriers are profit companies, they usually want to be keeping 30% of the premiums the company is paying in order to cover admin costs, commissions, and of course profit. This means that the total amount of claims the company puts through to the insurance carrier should not exceed 70% of the total amount paid in premiums.

For example:
$1,000 Monthly Premium = $12,000 yearly total premium paid
Therefore, claims submitted should not exceed 70% of $12,000 which equals to $8400 for the year.

The premiums for a group benefit plan are guaranteed for 12 months at a time and are renewed based on your usage (known as your claims experience). For some carriers, the first year’s rates are guaranteed for 15 months. Once the 12 (or 15months) expire, your rates are renewed at a new price reflecting your claims experience (the total amount of claims submitted for the year). If the company is under its 70% usage, it will see only a small increase to cover increasing medical costs. If the company has claims exceeding 70% of the total amount paid in premiums, the company will see a much larger increase in its monthly premium.

To save money on your company’s insurance premiums, you want to decrease the dollar amount of claims submitted.

There are 2 key ways to do so:

Increase the co-insurance amount: This is the amount the employee has to cover themselves. By making the employee more accountable for the claims they submit, they will ultimately be more conscious of the expenses they incur. Ideally, a benefit plan should have no more than 80% co-insurance, and can even go as low as 60%. If coverage isn’t completely free, the employee will be less compelled to make unnecessary claims.
Add a dispensing fee deductible: This means that the employee will have to pay each time they fill their prescription. By adding a dispensing fee deductible, this puts the onus on the employee to be more conscious of corporate spending. Therefore, rather than going once a week to get a prescription filled, they will choose to go monthly, so they only incur one charge instead of four. Furthermore, it will encourage employees to get their prescriptions filled at places like Costco or Walmart where the dispensing fee is around $5 versus Shoppers or other pharmacies where they charge around $12.

If you are a business owner or employee and want more advice on your group benefit coverage – please call me: 778 245 2262.

Thanks again to Chris Day for the inspiration!

Follow Chris on Twitter: @CDot

Chris Day
President & CEO
Fully Managed

My Three Sixty, Edition #4

Tue, 01 Jun 2010 00:00:00 GMT

I have heard this great story about prioritizing what’s most important in life a few times recently, so thought I should share it with all of you who may not have heard it before…

A philosophy professor stood before his class with some items in front of him. When class began, he picked up a large empty jar and proceeded to fill it with golf balls. Then he asked the students if the jar was full. They agreed that it was. The professor then picked up a box of pebbles and poured them into the jar of golf balls. He shook the jar lightly. The pebbles rolled into the spaces between the golf balls. The students laughed. He asked his students again if the jar was full. They said yes. The professor then picked up a box of sand and poured it into the jar. Of course, the sand filled up everything else. He asked once more if the jar was full. The students responded with a unanimous "Yes". The professor then produced two glasses of red wine from under the table and poured the entire contents into the jar, effectively filling the empty space between the sand. The students laughed.

He looked at the class and asked, "What is the point of this illustration?" One eager beaver raised his hand and said, "The point is, no matter how full your schedule is if you try really hard you can always fit some more things in it!"

"No, that’s not it," said the professor. "I want you to recognize that this is your life. The golf balls are the important things - your family, your partner, your health, your children, your love, your enjoyment, and your entertainment - anything that is so important to you that if it were to be lost, you would be nearly destroyed. The pebbles are the other things in life that matter, but on a smaller scale. They are things like your job, your house, your car. The sand is everything else. The small stuff.

If you put the sand or the pebbles into the jar first, there is no room for the golf balls. The same goes for your life. If you spend all your time and energy on the small stuff that doesn’t contribute to your happiness, you will never have room for the things that are truly most important.”

This story is a reminder to pay attention to the things and people that are most important in your life. Play with your children. Take your partner out to the movies or to a nice dinner. Spend time with your friends laughing and doing what you love. Play a round of golf. Do one more run down the ski hill. Go to a late show. Spend a Saturday or Sunday afternoon at the beach, or going for a walk and grabbing some fish and chips. There will always be time to work, or to clean the house, to run errands or to fix what may be broken.

Take care of the golf balls first - the things that really matter. Set your priorities. The rest is just pebbles and sand.

And what about the 2 glasses of wine - what do they represent?

It goes to show that no matter how full your life may seem, there's always room for a couple of glasses of red or white wine with a friend!

Cheers to a wonderful summer with the people you love, doing the things you love!

Why I love what I do and the rule of 72

Thu, 27 May 2010 00:00:00 GMT

Yesterday I was reminded again why I love what I do. I had the opportunity of reconnecting with one of my favorite clients, who I consider a good friend. She had been away working overseas for the past year and we met up for lunch to catch up and review her portfolio.

I was so happy to show her that since we moved her funds (money that was just sitting in an RRSP at her bank, earning next to nothing) over to a proper investment; she has earned over $3200 in interest! This is the interest her money earned for her just from being properly invested. She was smart enough to realize that in order to get ahead, she needed to have her money working for her. We can never guarantee any returns, but I am happy to report that this $3200 represents a 9% return from the past year!! Using the rule of 72 (explained below) at this rate of return, she will double her money in just 8yrs.

The most common misconception about investments and wealth is that it takes money - a lot of money - to get started. This is SO not true! Anybody can invest, and I urge everybody to invest into a TFSA and an RRSP, to take advantage of significant tax savings and to get your money working for you. Whatever you have is much better than nothing. Most importantly, if you have more than $1,000 sitting in a bank account - you are not being very smart. So don’t waste another day, get smart today!

For most people, financial freedom comes from starting early, working with a professional, and investing every extra dollar they have into a growth account.

The magic of compound interest, an example:

Investment:             $200/month
Length of Time:        20yrs
Interest Rate:         6% interest*
Total Investment Value after 20yrs: $92,870
You would have only actually invested $48,000 - and you would have made an extra $44,870 from interest alone!

Of course the more you invest monthly (or yearly) and the earlier you start, the more interest you will earn.

Investment:             $400/month
Length of Time:        35yrs
Interest Rate:           6% interest*
Total Investment Value after 20yrs: $572,733
You would have only actually invested $168,000 - and you would have made an extra $404,733 from interest alone!

*future interest rates are never guaranteed

THE RULE OF 72:

If you divide 72 by the expected interest rate your investment will earn, this will give you the number of years it will take to double your money.

Example:
Initial investment = $10,000
Interest rate = 6%
Number of years to double = 72/6 = 12yrs
So in 12yrs your $10,000 will double to $20,000

The reverse is also true, if you want to know much interest you need to earn in order to double your money in a specific amount of time, say 10years.

Initial investment = $10,000
Desired number of years to double = 10yrs
Interest rate needed = 72/10 = 7.2%
So your investment would need to be earning 7.2% interest in order to double in 10yrs

Get SMART today and get your money work for you!

The 'Accident'

Wed, 12 May 2010 00:00:00 GMT

On May 12^th 1999, mine and Kelly’s lives were changed forever. We were driving home late at night down Fraser Highway when our driver lost control of the car we were in crossing over 2 lanes of on coming traffic and fish-tailing right into a pole at over 90km/hr. As you hear in most accidents, we were only less than 5 minutes from home, which makes this even more devastating.

Kelly was in the back seat with me and unfortunately for her, she was on the right side of the car - the side that smashed directly into the pole. Since I was on the left side with my seatbelt on, I was able to completely walk away from the accident suffering only from a little bit of whiplash. Kelly was not so lucky.

Kelly was sitting on the side directly where the car crashed into the pole. Actually she wasn’t sitting; she was lying down across the back seat without her seatbelt on. This was actually a blessing, because had she been sitting upright with her belt on, she would have surely died. When the car hit the pole, Kelly’s body literally flew out the window, with her head smashing through the window and leaving her with shattered glass and cuts all over her lower face, chin, and neck. She was extremely lucky that she didn’t shatter the window with the top part of her face.

As her body flew through the window, the lower half of her body was trapped inside the car basically tearing the top half from her lower half. The ambulance was there in no time and she was taken to the Royal Columbian Hospital.

The next part is really, really upsetting. The doctors at the hospital were not very helpful. Kelly essentially tore the upper half of her body apart from her lower half destroying all of her ligaments, muscles, and tendons but because she didn’t ‘break’ anything there was nothing that they could do so they sent her home!!! This was outrageous! Before they could send her home, they spent about 10 minutes picking glass out of her face and sewing up the large gashes. This was really aggravating to watch, this was a 19yr old young woman who’s face they were fixing and the nurse put in about as much care as if she was putting together an old doll.

Once Kelly returned home, her body had severely inflamed and she was in intense, excruciating pain. She couldn’t make it up the stairs to her bedroom, so her parents set up a bed for her in their living. Little did she know that she would be spending 3 months in that bed. And she did, she basically laid in the bed in her parent’s living for 2 months straight, only getting up to go to the washroom a couple of times a day.

I became her nurse. I spent over 20hrs a day with Kelly, helping her out of bed and to the washroom (which was about a 20min adventure, even though the bathroom was only 5ft away) helping her wash her hair (while laying in bed, which I must say was quite a feat) cooking for her and of course trying to keep her entertained and helping her sit up while she ate and took her pain medication.

Before she eventually learnt to walk again, we would take excursions out around Aldergrove in her wheelchair. She began using a cane after about 2 months and relied on her cane as her best friend for another 3years.

The hardest part about the accident, wasn’t Kelly’s shattered face and body, it was her shattered dreams. She was supposed to start the nursing program at Camosun in September that year (only 4 months later). She had always wanted to be a nurse, ever since she could remember. Kelly was told that she would have to let go of this dream as she would never be physically capable of performing the requirements of the job. As the rest of us started University, Kelly was left dealing with intense pain, not being able to do much but lay around and relax in order to not cause any extra pain and stay in on Friday and Saturday nights alone.

Kelly spent the next 6 years, in and out of physiotherapy and on and off of pain killers. Her life was dramatically changed when she began doing Pilates and was introduced to her Naturopath, Dr. Timothy Brown in White Rock. She began to receive a treatment called Prolotherapy which worked to break up the scar tissue and rebuild her torn ligaments. The changes we would see after each session were incredibly dramatic.

It’s been 11 years since the ‘accident’ and Kelly still suffers from chronic and intense neck and back pain. She pushes through her pain everyday to live her life and make the most of it. She was able to find a flexible career that allows her to choose her own schedule and only work the hours she is able to. She is passionate about helping people with insurance, because as we both have experienced, just when you think your life is trotting along perfectly in the direction of your dreams; it can all be gone in the blink of an eye.

Why I'm offended today!

Wed, 21 Apr 2010 00:00:00 GMT

I’m a little bit bothered today; well actually I am quite bothered today. One of the things Kelly and I are most passionate about is educating our clients and contacts about the importance of critical illness insurance. Yesterday, Kelly had a meeting with a young woman to talk to her about comprehensive insurance to protect her mortgage. She explained to the client how insurance works and the importance of critical illness insurance, however before Kelly had a chance to finish the conversation, the client said to Kelly that her financial advisor told her that she doesn’t need critical illness insurance because if she gets sick she’ll most likely die anyway so it’s a waste of money.

I’m extremely bothered because with all of the technological advances in medicine these days, most people that are diagnosed with a serious illness have a very high chance of beating it and surviving. That being said, the unfortunate part is that they still must fight it out. They must still undergo the intense and sometimes very invasive therapy. They must still take time off of work to undergo treatment and recover, they must still pay for expensive hospital parking, they must still rely on friends or family to take time off work to accompany them to appointments, they must still pay for drugs such as anti-nausea pills, they must still continue to pay their bills (such as their mortgage, car payment, phone, hydro, food), and they must still continue to care for their children and spouse or pay for hired help.

Being diagnosed with a serious illness such as Cancer, MS, Parkinson’s, or having a heart attack, becoming paralyzed or dealing with a major organ failure may not be a death sentence, but it could be a financial death sentence. Without the proper insurance in place, a person could have to rely on their retirement savings in order to support themselves through their battle. How would you support yourself if you couldn’t work for an entire year, or even two? The average cost for out of pocket expenses for cancer treatment is $30,000 (this does not include your loss of income or government covered treatment and drugs). The last thing you want is financial stress during this very difficult time, and the last thing you want when you have beaten a serious illness is to be left without a job, without a home, without any retirement savings, or without hope for the future.

I’m also completely offended by the statement this Advisor made. I’d like him to ask my 28yr old girlfriend who was diagnosed with breast cancer and is about to undergo a double mastectomy if she plans on dying?

I am not sure who this Advisor is or what company he is with, but its true for this particular client – she will not need critical illness insurance because if she does get sick, she will be able to sue his ass off!

Comment on: Why I'm offended today!

Wed, 21 Apr 2010 17:24:12 GMT

Well said. I can't believe she was given that advice either. No one knows what the future holds for us and our health. The last thing I want to be doing is pulling out my retirement savings or my childrens college money to pay for something I should have gotten coverage for.

My Three Sixty, Edition #3

Thu, 01 Apr 2010 00:00:00 GMT

I've being doing a lot of networking in the past year and what I have learned is that one of the most important things in life are the relationships you have. The relationship you have with your family, your friends, your clients, your colleagues, and your contacts can make or break you. I've been lucky enough to meet some amazing people this year - most of whom started out as strangers and have now flourished into loyal, powerful friendships. If you spend enough time giving to people and supporting those around you, you will be blown away by all that comes back to you. That being said, when you give, never give with the intention of what you will get back. Give with your heart and doors everywhere will start opening for you.

Social Media is a great tool to enable and spark these relationships, but if it isn’t treated properly it too can make or break you, so be careful how you use it. No matter how much effort you put into blogging, twittering, emailing, facebooking, bbming, or texting, it doesn’t mean a whole lot if you don’t take those relationships offline. My proposal to all of you is reach out to someone you cherish (or that you haven’t met in person yet) and book some quality time to spend with them, and please turn off your blackberry/iphone when you do ;)

P.I.N.K: Financial Empowerment Series for Women

Wed, 03 Mar 2010 00:00:00 GMT

It is a well-known fact that stress is directly link to your health. Research has shown that stress is one of the leading causes of illness and can be attributed to serious health problems such as anxiety, depression, heart disease, obesity, headaches & migraines, ulcers, and even cancer.

For most of us, one of the biggest factors of stress in our lives comes from our finances. A lack of proper money management skills is significant burden on the average family and a leading cause of stress. This stress can take a toll on many elements in our lives from our relationships, to our work, to our happiness, and most importantly to our health.

The best way to overcome the stress related to financial matters is to take control of your situation through education and empowerment.

The PINK (Protection, Investments, and Need for Knowledge) seminar series is geared at doing just this, empowering women with their finances through education on various topics within the financial realm. With empowerment comes the ability to make educated decisions making your money situation much easier to manage and ultimately decreasing the anxiety and stress linked to this topic.

Join us to take a step toward decreasing your financial stress and improving your overall health.

Protection Investments Need for Knowledge
a complimentary Financial Planning Series for Women!

Event Details:
Time: 6pm – 9pm (reception from 6pm – 6:45pm)
Dates: Every second Tuesday in March & April
-March 9^th
-March 23^rd
-April 6^th
-April 20^th

Location: LUX Lounge, 965 Granville Street

This series is geared at empowering women with their finances and will cover topics such as:

Wealth Management

Credit, Debt and Taxes

Health & Disability

Life & Estate Planning

Divorce & Widowhood

Retirement Planning

Please RSVP to desiree@threesixtyfg.ca to reserve your seat

Vancouver 2010 Free Concert Listings

Wed, 10 Feb 2010 00:00:00 GMT

Only 2 more days to go!

The Olympics are going to be an EPIC experience, here is an incredible list of all of the free concerts taking place over the next 2 weeks - thanks so much to my friend Cathy Locke!

ALL show times are PM

Fri Feb 12th
Venice Queen - 10:15 @ Ozone
Bedouin Soundclash - 10:00 @ Ontario Pavillion
The Phoenix - 8:00 @ Plaza Of Nations
Blue Rodeo - 9:15 @ Holland Park

Sat Feb 13th
Matthew David - 3:15 @ Ozone
Jet's Overhead - 8:00 @ Holland Park
Five Alarm Funk - 9:00 @ Holland Park
Daniel Wesley - 10:00 @ Holland Park
Califone! - 7:30 @ Livecity Yaletown
Hey Ocean - 8:00 @ Ozone
Bedouin Soundclash - 9:30 @ Ozone
Jessie Farrel - 10:00 @ Livecity Downtown
Default - 6:15 @ Livecity Yaletown
Wilco - 10:00 @ Livecity Yaletown

Sun Feb 14th
Keisha Chante 10:00 @ Ontario Pavillion
Mother Mother - 8:00 @ Livecity Yaletown
Rich Hope - 8:00 @ Livecity Downtown
Daniel Wesley - 9:30 @ Livecity Yaletown
Elliot Brood - 9:30 @ Livecity Downtown
Serena Ryder - 9:00 @ Holland Park

Mon Feb 15th
Sloan - 10:30 @ Atlantic Canada House
Serena Ryder - 10:00 @ Ontario Pavillion
Balligomingo - 9:00 @ Plaza Of Nations
Jet's Overhead - 9:30 @ Livecity Downtown
Matisyahu - 9:30 @ Livecity Yaletown

Tue Feb 16th
Fresh IE - 7:30 @ Livecity Downtown
Alexisonfire - 9:30 @ Livecity Yaletown
Buck 65 - 9:30 @ Livecity Downtown
Eliot Brood - 10:00 @ Ontario Pavillion
The Trews - 10:30 @ Atlantic Canada House

Wed Feb 17th
DRUM! - 5:00 @ Livecity Yaletown
Corb Lund - 9:30 @ Livecity Yaletown
The Arkells - 10:00 @ Ontario Pavillion
Hawksley Workman - 9:30 @ Ozone
Hot Hot Heat - 9:00 @ Holland Park
Ivy League Brawlers - 10:00 @ Plaza Of Nations (Edgewater)

Thur Feb 18th
Jully Black - 10:00 @ Ontario Pavillion
Keisha Chante - 8:00 @ Livecity Yaletown
Corb Lund - 9:00 @ Holland Park
Rumba Calzada - 9:30 @ Livecity Downtown
The Arkells - 8:30 @ Ozone
Our Lady Peace - 9:45 @ Ozone
Marianas Trench - 9:30 @ Livecity Yaletown
Deadmau5 - 9:30 @ Livecity Yaletown

Fri Feb 19th
DRUM! - 8:00 @ Ozone
Jully Black - 10:00 @ Holland Park
The Arkells - 7:00 @ Holland Park
Dan Mangan - 8:00 @ Holland Park
Sam Roberts - 9:00 @ Holland Park

Sat Feb 20th
Rally Car - 3:00 @ Ozone
The Arkells - 6:30 @ Livecity Yaletown
Sam Roberts - 9:30 @ Livecity Yaletown
Marianas Trench - 9:30 @ Ozone
Mother Mother - 10:00 @ Holland Park
DRUM! - 6:30 @ Holland Park
Hey Ocean - 8:30 @ Holland Park

Sun Feb 21st
The Odds - 7:30 @ Holland Park
54-40 - 9:00 @ Holland Park
Jully Black - 9:30 @ Livecity Yaletown

Mon Feb 22nd
Colin James - 9:30 @ Livecity Yaletown

Tue Feb 23rd
Wintersleep - 9:30 @ Livecity Yaletown

Wed Feb 24th
Wintersleep - 10:30 @ Atlantic Canada House
Damian "Jr.Gong" Marley - 9:30 @ Livecity Yaletown

Thur Feb 25th
Illscarlett - 6:30 @ Livecity Yaletown
Head Pins - 7:30 @ Holland Park
Street Heart - 9:00 @ Holland Park
Wintersleep - 9:30 @ Ozone
Inward Eye - 11:30 @ Livecity Downtown

Fri Feb 26th
Tokyo Police Club - 9:45 @ Ozone
Inward Eye - 6:00 @ Holland Park
Illscarlett - 8:00 @ Holland Park
Marianas Trench - 9:00 @ Holland Park
TBC - 8/9:30 @ Livecity Yaletown

Sat Feb 27th
Matt Mays - 6:30 @ Livecity Yaletown
Matt Mays - 10:30 @ Atlantic Canada House
The Stills - 10:15 @ Ozone
Illscarlett - 10:00 @ Ontario Pavillion
Blue Rodeo - 9:30 @ Livecity Yaletown
Wide Mouth Mason - 9:30 @ Holland Park
Tokyo Police Club - 9:00 @ Holland Park
Wintersleep - 10:00 @ Holland Park

Sun Feb 28th
Five Alarm Funk - 9:30 @ Ozone

ADDRESSES
Livecity Yaletown
David Lam Park, Vancouver

Livecity Downtown
Cambie St between Dunsmuir St and W Georgia St, Vancouver

Holland Park
13428 Old Yale Rd., Surrey

Ozone
Minoru Park, Richmond

Ontario Pavillion
Concord Place, False Creek, Vancouver

Atlantic Canada House
Granville Island

Plaza Of Nations
750 Pacific Boulevard, Vancouver

My Three Sixty, Edition #2

Mon, 01 Feb 2010 00:00:00 GMT

The 2010 Olympic Games will no doubt be amoung the biggest and most impactful events in my lifetime taking place in the city I'm proud to call home. The Olympics are an incredible opportunity for the world to come together in celebration of excellence in sport. However, although the Olympics are a sporting event they are really about so much more. To me, the Olympics are about education and development, they are about love, pride and making connections, and ultimately they are about peace.

Hosting the Olympic Games provides us all with an opportunity to showcase our city, province, and Nation to the rest of the world and stand proud together. The Games are a chance to celebrate culture; first and foremost our own. British Columbia has a very strong and diverse culture and I am so proud and excited to share this with the world. Of course it’s not just about us though. It is also a chance to share and learn about many of the other worldwide cultures, make lasting friendships that transcend traditional borders, and celebrate community.

The Olympic Games represent Excellence, Respect, and Friendship so I urge you to embrace each moment while keeping these values close to your heart.

The experience will be over before we know it, but the legacy will last a lifetime.

GO CANADA!

Will you be the one bathing your parents?

Tue, 19 Jan 2010 00:00:00 GMT

A new study done by the Alzheimer Society of Canada reported that the number of Canadians with Alzheimer's is going to double in the next 20yrs. This increasing threat of Alzheimer's and Dementia has caused me to seriously start thinking - who is going to take care of my parents when they can no longer take care of themselves?

This is not something I enjoy thinking or talking about, but it is a conversation that needs to take place because the seriousness of it is very real. The truth is that our parents will get old and with age comes illness and disease, which lead to the need for care. Although I love my parents tremendously, I have no interest in helping them bathe or dress themselves, nor taking time away from my work day to help feed them or even help them go to the bathroom. I want to leave this in the hands of care professionals so that I can spend time with them, rather than taking care of them.

I know many of you probably think, well of couse I dont want to do that either, but I'm not worried, they can just go into a nursing home when the time comes. Well, although that is a great idea in theory, the truth is that subsidizing housing will be maxed out and government resources will be few and far between. The baby boomer generation (age 65+) is the fastest growing segment of our population and soon there will be too many old and sick people that access to government care (which is less than ideal in the first place) will be extremely restricted.

The solution for my family is Long Term Care (LTC) insurance. With LTC insurance, I know that I will not have to be amoung the hundreds of thousands of people who will have to take time away from their work and families to take care of their aging parents. There is great piece of mind in knowing that we will be able to afford to have the necessary improvements done to my parents home along with paying for the services of a private nurse so that they will be able to receive the care they need at home.

For more information on how Long Term Care insurance works click here:

http://www.threesixtyfg.ca/aspx/m/541063

For information on the study, Rising Tide: The Impact of Dementia on Canadian Society click here:

http://www.vancouversun.com/health/Dementia+will+take+startling+toll+baby+boomers+Study/2403947/story.html

Happy 25th Birthday Andrew!

Wed, 16 Dec 2009 00:00:00 GMT

My cousin Andrew was quite the rambunctious child. To this day, I can still hear my aunt Wendy’s voice screaming "Andrew Crawford Barbour get your ass in here!”. He was the life of the party, always getting into trouble but all you could do was laugh when he caused havoc; how could you not love that cute freckle face of his? He was sweet, funny, loving and lovable, sociable, warm and welcoming to all. Yesterday would have been his 25^th birthday. Sadly Andrew, who we always referred to as ‘Droid’, passed away tragically on his fishing boat in 2007. Andrew loved being a fisherman and relished in every moment he spent on the boat with the boys.

Andrew is my little cousin but he very quickly out grew me - one of the things I miss most is when he would scoop me up and give me one of his amazing warm bear hugs...I could hardly breathe but it felt amazing to feel so much love.

Happy 25^th Birthday Droid – we miss you!

Lucy Lime & BC’s Children’s Hospital

Tue, 08 Dec 2009 00:00:00 GMT

This week's blog post comes courtesy of Jillian Kirby of Lucy Lime Studios. Jillian's brother Shakeel was terribly injured in October and was treated by the amazing people at the BC Children's Hospital. We would like to support Jillian's efforts to raise money for the Children's Hospital and encourage you to comment on her blog post - Lucy Lime is donating $1 for every comment they receive. We thank you in advance for taking the time to comment on her site http://lucylimestudios.com/blog/.

From Lucy Lime
This past October, Shakeel had a horrible accident where he fell close to 40 feet in to a gulley off a rope swing. He was rushed to Abbotsford’s new hospital by ambulance and before even entering the hospital, was helivac’d to Children’s Hospital. He was treated in emergency for a broken arm and a very serious head trauma. While unconcious and on a breathing tube, he was in the Children’s Intensive Care Unit for three days (seemed like months).

Shakeel was EXTREMELY lucky and we were told that repeatedly. He not only survived the fall against most odds, but he also did no injury to his neck or spine and his brain swelling was not nearly as bad as originally thought and he was moved up to the neuro ward for the remainder of his stay there.

He still has some language issues and will need some help getting it all back but every day he gets a little closer to the old Shak! And I’m soooo happy about that.

Every year we donate to Children’s Hospital but this year, for obvious reasons, we’re feeling a little bit more thankful that we have such an amazing facility in our area… and they really are amazing. So let’s have some fun!!!

For every comment we get on this post, we’ll donate $1 to BC’s Children’s Hospital… So comment anytime between now and Sunday December 13th at midnight! Get your friends to comment… get your family to comment… get your co-workers to comment… get your kids to comment! The more comments the better!

Here’s a couple more shots of Shakeel that I took of him tonight… did I mention that my kiddos absolutely adore “uncle” as well. awwww.

Comment on: Lucy Lime & BC’s Children’s Hospital

Tue, 08 Dec 2009 19:46:16 GMT

Thank you both so much for your support in this... we're hoping to get as many comments as we possibly can and this will definitely help!! Thanks again! Jill

Comment on: Lucy Lime & BC’s Children’s Hospital

Tue, 08 Dec 2009 19:33:56 GMT

Oh, wow, scary stuff. What a Christmas blessing that he is doing well after such a horrible fall! Hoping he feels well and strong over the holidays.

My Three Sixty, Edition #1

Mon, 30 Nov 2009 00:00:00 GMT

My Three Sixty

The way I see it, our lives are becoming too serious. Our daily routines are full of tasks that need to be done and we move mindlessly through each one, just to get it done so we can move right onto the next. Before we know it, we pass through days, then weeks and months, until an entire year has blown right by us. Have you ever heard someone say “This year has gone by so fast!”? Of course, we all say it. We are too busy moving onto the next item on our list rather than being present and enjoying each moment.

I say it’s time to bring back the FUN. We all have tasks, projects, meetings, and work that needs to get done, so why not make them fun? Next time you are in a meeting, tell a joke or a funny story, introduce a bit of laughter and watch your colleagues loosen up. The meeting will be much more enjoyable. Next time you are grocery shopping, make a game out of it: time yourself and see how fast you can get it done. Or if you have time, strike up a conversation with the person picking grapes beside you – why not? Most importantly SMILE at the cashier; take time to speak with them and see how their day is going, I bet it will make you both feel better.

We will all get a lot more work done, teams will be more efficient/productive, and people will be happier if we are having fun. Life is short – take time to make it enjoyable!

A smile is very powerful – it’s even been known to break ice!

What are you most at risk for?

Tue, 24 Nov 2009 00:00:00 GMT

When you think about insurance, it is something most people have in place to hedge their losses in different areas of their lives and to minimize the financial impact of unfortunate events.

It is quite alarming that most people have insurance for the common things in life for which there is very low risk, while they do not have the appropriate insurance in place for the areas of life in which they are most at risk for and which would cause the most significant financial impact.

To give you a better perspective, here is some statistical information to think about.

Before age 65, you have a:

1 in 19,287 : risk of a requiring home insurance

1 in 1,722 : risk of requiring car insurance

1 in 78 : risk of untimely death

1 in 16 : risk of incurring a disability

1 in 3 : risk of being diagnosed with a Critical Illness

It’s true, how many people do you know whose house has burnt down? Probably and hopefully nobody.

On the other hand, how many people do you know whose life has been affected by cancer within their family? Sadly, most of us have been personally affected by cancer, either in our own families or through our friends.

Do you have insurance coverage in place for what you are at most risk for?

Your health and your ability to work is your biggest asset. Your wealth is acquired from your ability to work and earn an income for multiple decades. If anything happens to your ability to work, what will happen to your wealth? Every single working person should have the proper Disability Insurance and/or Critical Illness Insurance in place to protect their income in the case of serious injury or illness.

Contact us for more information or to review your situation.

Desirée 778 245 2262 OR email us
Kelly 778 227 6269

Save Money with Manulife One!

Tue, 17 Nov 2009 00:00:00 GMT

Many of you have undoubtedly seen the TV commercials for Manulife One and have probably thought that paying down your mortgage in substantially less time seems too good to be true. We’ve been doing a lot of research on Manulife One and have sat down with a couple of clients who are making their money work harder for them.

Here is a brief overview of how the account works:

Manulife One allows you to simplify your finances by combining your income, mortgage, credit cards, loans, other debt, and savings into a single multi-purpose borrowing and chequing account.

There are TWO main benefits of a multi-purpose account:

1. Significant Interest Savings: Manulife One allows you to combine all of your debt into ONE low interest account. This means that you will no longer be paying up to 21% interest on your credit cards, loans, and line of credits. Consolidating all of your debt into one account with a significantly lower interest rate will save you thousands of dollars on interest.

2. Direct Deposit of Income toward Debt:

Combining your chequing account balance and your short-term savings into that same account immediately reduces your total debt and also saves you interest costs. Furthermore your income is automatically deposited into your Manulife One account so every time you get paid or make a deposit, your total debt is immediately reduced.

Throughout the month, the Manulife One account acts as your daily chequing account where you have access to your income as well as a line of credit to pay for expenses.

The result: every dollar you have works for you to keep your borrowings and your interest costs lower!

Manulife One is available ONLY to homeowners and is a secured line of credit based on up to 80% of the appraised value of your home that you can use to consolidate other higher interest debt.

To find out if you qualify for a Manulife One account and are interested in saving money on interest immediately, please call us:

Desirée Dupuis 778 245 2262

Kelly Strongitharm 778 227 6269

email us

Home Renovation Tax Credit

Tue, 10 Nov 2009 00:00:00 GMT

The following information is from the CMHC website:

Renovating can be a great way to add value to your home. It can make your house a more comfortable environment for you and your family, and even reduce your energy bills. And now, with the introduction of the new Home Renovation Tax Credit (HRTC), this might be the best time to begin the renovations you’ve been planning.

As part of Canada’s Economic Action Plan, the Home Renovation Tax Credit will provide a one-year, temporary 15% income tax credit on eligible home renovation expenditures for work performed, or goods acquired after January 27, 2009 and before February 1, 2010. The credit may be claimed on eligible expenses exceeding $1,000, but no more than $10,000, for a total credit of up to $1,350.

Eligible renovation expenditures include: renovating your kitchen, bathroom or basement; installing new carpet or hardwood floors; building an addition, deck, fence or retaining wall; installing a new furnace, central air conditioner or water heater; painting the interior or exterior of your house; resurfacing a driveway and laying new sod.

Renovations which are not eligible for the credit include: purchase of furniture, appliances and tools, carpet cleaning, and maintenance contracts.

To obtain more information on the Home Renovation Tax Credit, call 1-800-O-Canada.

Advance planning is the key to every successful renovation project. Browse through our wealth of renovation information aimed to help you plan, assess, and avoid costly renovation surprises.

CMHC’s About Your House fact sheets include:

A Courageous Battle: Breast or Baby?

Mon, 02 Nov 2009 00:00:00 GMT

I had the opportunity to sit down with Tina Bacon over lunch and hear her amazing story of battling Stage 2 Breast Cancer while she was pregnant. Tina has an amazing spirit about her, you can just tell from her energy and honesty that she is a blessed woman.

Her life-changing story begin back in May 2006 when she found a lump in her breast. At first, it was just a lump (as there was no family history of breast cancer in Tina's family) but she began the process of determining how serious this lump would be. Meanwhile, just a couple weeks later, she found out that she was pregnant.

The wonderful news that Tina and her husband Matt were going to have a third child (they already had 3-1/2 yr old twins Katie and Lauren) was trumped by her diagnosis of Breast Cancer in July. She had a choice - abort the baby and undergo radiation to shrink the lump or keep the baby and undergo a mastectomy. She thought to herself "Breast or baby? Well, I can always get a new breast!" and with that the decision was made.

Tina began chemotherapy in September 2006, and with baby in utero she underwent 5 chemotherapy treatments along with her mastectomy.

Her treatments went well and amazingly she was able to deliver her baby boy Nate 6 weeks early at just 34 weeks. She had to deliver early as her second round of chemo would not be safe for the baby.

After Nate was born, miraculously healthy, Tina continued her battle with Cancer and received 3 more chemotherapy treatments in addition to 16 rounds of radiation treatment. By April 2007, she had completed all of her necessary treatments. However, even though she had completed all of her therapy, because the Cancer spread into her lymph nodes she must continue to undergo hormone therapy for 5 years and in 5 years if everything is deemed OK, only then will she be in remission.

While Tina and baby Nate are both doing well and are alive and healthy, there have been many challenges along this journey.

The financial impact alone was tremendous. Had it not been for Tina's wonderfully supportive family, friends, and church who together were able to raise $50,000 through various fundraisers, they would not have had the means to pay for all of the additional expenses her fight with cancer cost.

Luckily Tina had mortgage insurance which took care of her mortgage payments but she says "I totally recommend personal critical illness insurance, the mortgage insurance alone was just not enough". Although they did not have to worry about their mortgage payments, Tina and Matt had to cover the cost of a night nanny for 3 months along with a daytime nanny for 10 months to help her with her newborn child and twins.

In addition to the two nannies, the extra expenses included a lot of take out meals since Tina was too tired to cook, in addition to anti-nausea and sleeping pills, skin cream to help with the burns from the radiation treatment, and housecleaning which they continue to recieve twice a month.

Tina's husband Matt is a teacher at M.E.I middle school and Tina says they were wonderful. The PAC organized 2 meals a week for 6 months and the school covered the cost of a substitute teacher 8 times so Matt could take Tina to the Cancer Clinic. They definitely went above and beyond what a typical employer would offer.

Unfortunately for the Bacon family, the battle that started with Tina's diagnosis is far from over. As soon as Tina's therapy ended and she had beaten the worst of it, all of the emotions Matt had been pushing away took over and he is now battling clinical depression. Tina states "It's much harder on the spouse. I am not scared of dying, if I die - I will be okay, but he is the one that would be left to deal with it."

One of the saddest parts of this story for me, was the effect on Tina's twin girls Katie and Lauren who are called the 'Bacon Bits'. In their young minds, they now associate pregnancy with Cancer. The girls are scared to get married, since to them that means that they would have to have a baby and then they would get Cancer. While most young girls are dreaming about cinderella love stories and fantasy weddings, the 'Bacon Bits' are worried that if they were to get pregnant they would also get Cancer. This broke my heart.

In regard to insurance and the financial impact of her family's battle with Cancer and now depression, Tina says "the fact that our mortgage was paid off and we now have money for child care and cleaning services from the $50,000 that was raised for us is a huge weight off our shoulders. Matt can go to work without worrying about us, and the girls are getting consistent care that we just wouldn't have been able to keep asking for from our friends and family."

She continues with "even after all of the therapy was over, I wasn't ready to go back to work, and luckily I didn't have to, but what do you do if you still have a mortgage to pay for?"

Having their mortgage paid off has provided the means for Tina to do what she loves and is passionate about. Tina now runs her own business The Pink Spatula which specializes in creating miniature sweets that can turn a simple cup of tea into a special occasion. You can find her at Well Seasoned, a gourmet food store in Langley.

You can follow Tina on Twitter: @wortheverybite or www.twitter.com/wortheverybite

Thank you once again Tina for sharing your story and journey with me. I wish you and your family all the best for a brighter future.

Closing Costs When Buying a Home

Tue, 27 Oct 2009 00:00:00 GMT

Thanks to Maury Lum for providing this important information for home-buyers!

The term “closing costs” is used to describe the expenses that are commonly incurred in the process of purchasing a home. Not all costs are the same in all situations; however, there are few that will almost always be incurred. The future homeowner is responsible for covering all closing costs so it is important to be aware of them to know which are applicable. See below for a comprehensive list of most all of the potential closing costs.

Land transfer tax – When a home changes hands, many provinces and a few municipalities charge a property transfer tax or title transfer fee. In British Columbia, the land transfer tax is calculated as 1% of the first $200,000 of the purchase price plus 2% of the balance (e.g. for a $500,000 property, the land transfer tax will be $8,000; 1% of $200,000 = $2,000 + 2% of $300,000 = $6,000). This tax is paid at closing (appointment with solicitor) and banks do not finance this (you should think of this cost similar to, but in addition, to the down payment in that it is an out of pocket expense). First time buyers in BC however, may qualify and be exempt from this tax when buying the first home they will live in. Please contact me directly for full details on this program.
Appraisal fee – The lender/bank may require that you have the home appraised to confirm its market value. This is more common when the mortgage is NOT insured (i.e. when the down payment exceeds 20% of the purchase price or in a refinance when the mortgage amount is less than 80% of the home’s market value). Fees vary depending on the size of the property, property type, and amount of detail required in the report, but will typically cost $300 to $400.
Home inspection – An inspection can help make you aware of issues related to a house’s structure and systems, such as plumbing and electrical, and recommended or necessary repairs. This is at the discretion of the purchaser and is not a requirement for financing. The cost of a home inspection can range from about $350 to $450.
Home/fire insurance – Your lender will require proof that the property is insured in case of fire and other damage. Insurance costs vary depending on the property type and coverage obtained, however, budget for about $300 to $500 a year.
Legal fees – A lawyer or notary will help protect your interests by reviewing your purchase agreement, searching the property title, and ensuring that all documents are completed properly. Legal fees for a straight forward purchase will be approximately $1,100 to $1,200.
Title insurance – Title insurance can safeguard you against fraud and problems with your property title or survey. Fees range from $150 to $350.
Costs for newly constructed homes – If you are buying a brand-new home, be prepared to settle any items not quoted in the original price, including upgrades or paving and landscaping fees. New homes are also subject to 5% GST or 13% HST, although this is often included in your purchase price. A federal rebate reduces the GST or the federal part of the HST to about 3.5% for homes valued at $350,000 or less.
Prepaid costs – If the seller has already paid for property taxes, water bills, or other utilities in advance, you will need to reimburse these at closing. This can add to your upfront costs, but you will have then prepaid these bills for the first months in your new home.
Moving-in costs – Before the big day, budget for all those last minute things: $100 or more to rent a van or a few hundred dollars for professional movers, $50 to $60 for a locksmith to re-key your locks, $50 to $200 for cleaning supplies or professional cleaners, etc. Such incidentals can come to $500 or more.
Comprehensive Life Insurance – This type of insurance is not typically considered a “closing cost”, however, it should be looked into at the time of arranging a mortgage. Life, Illness and disability insurance is about ensuring that you, as well as others possibly, will be looked after should something unfortunate happen to you either for a brief or permanent amount of time and affect your ability to earn an income.

For more information on closing costs specific to your situation and assistance with buying process whether your first time or tenth, please contact Maury, he would be happy to help.

(604) 603-2520 | Maury@MauryLum.com | www.MauryLum.com |