Kelowna Financial Planner

To borrow or not to borrow…

2012-02-10T08:52:00.000-08:00

We’ve all been warned and the warnings will continue to come: Watch your debt - Interest rates will go up and so will your payments!

Managing debt can be difficult and temptations are all around. Want a new TV? Furniture? How about that holiday? Two words of advice – Be Careful! Right now money is cheap which makes things oh so more tempting but (and I’ve been preaching this for awhile now!) this cheap money won’t last forever.

So, what is a good reason to borrow? Let’s look at a few examples.

Dump the high interest debt with lower interest rates – Pay off your high interest credit cards with a lower interest consolidation loan or by re-financing them into your mortgage if it has a lower rate.

Get that education! – Statistics prove that graduates tend to make more money than non-graduates. How can you finance that education to get the higher pay cheque? Do you have young children? Borrowing to fund an RESP (Registered Educated Savings Plan) is one way. Ready to go to school? Student loans are another way to invest in your future.

The “R” word (Retirement!) – Getting an RRSP loan reduces the taxes you pay and can provide you with an instant tax return. All of this while growing in value. Tip: Use your tax refund to pay down the loan.

Home sweet home – Sure would be nice to pay cash for your house wouldn’t it? Most of us can’t so if you can find the right deal out there, there are some great mortgage rates that may make ownership cheaper than paying rent.

Some tips on borrowing – review and understand the costs before you sign on the dotted line. Make sure you shop around for the best interest rate and don’t take on more debt just because somebody will give it to you!

While money is cheap it may just be the right time to consider some of these ideas. Don’t dwell on any mistakes you made in the past – look through the windshield not the rear view mirror!

If I can be of any assistance please let me know – I do have experience with debt (haven’t we all made purchases we now think whoops or carried more debt than we should at some point?) I, too, have drank from the same Kool Aid – I’m only human! The trick now is to stop, analyze and move forward.

Remember to manage you own economy!

Yay - It's Friday!

2012-01-27T10:39:00.000-08:00

Bills, Kids, Work, Bad Habits and on and on and on. Stress is everywhere and sometimes we just need a good laugh!

Here is a true story that a client sent me that I thought was funny enough to share!

A woman was flying from Seattle to San Francisco.

Unexpectedly, the plane was diverted to Sacramento along the way. The flight attendant explained that there would be a delay, and if the passengers wanted to get off the aircraft the plane would re-board in 50 minutes.

Everybody got off the plane except one lady who was blind. The man had noticed her as he walked by and could tell the lady was blind because her seeing eye dog lay quietly underneath the seats in front of her throughout the entire flight.

He could also tell she had flown this very flight before because the pilot approached her, and calling her by name, said, 'Kathy, we are in Sacramento for almost an hour. Would you like to get off and stretch your legs?'

The blind lady replied, 'No thanks, but maybe Buddy would like to stretch his legs.'

Picture this:
All the people in the gate area came to a complete standstill when they looked up and saw the pilot walk off the plane with a Seeing Eye dog! The pilot was even wearing sunglasses.

People scattered. They not only tried to change planes, but they were trying to change airlines!

True story.. Have a great day and remember...

A DAY WITHOUT LAUGHTER IS A

DAY WASTED!!!

So - what does this have to do with financial planning??? The answer - nothing at all, but a good laugh is great for the soul!

Have a great weekend and remember to manage your own economy!

Brett

It's a New Year!

2012-01-03T14:19:00.000-08:00

I can’t believe its 2012 already! Boy does time fly!

Let’s get the New Year going with a great quote and some opinions (blunt and to the point) about resolutions!

This is an awesome quote by Edith Lovejoy Pierce – “We will open the book. Its pages are blank. We are going to put words on them ourselves. The book is called "Opportunity" and its first chapter is New Year's Day.” Couldn’t have said it better myself!

Now, what about resolutions! Well, for those of you who don’t know who Larry Winget is (widely known as the pitbull of self help!) – please find below his Ten Anti-Resolutions for the New Year.

Last year is OVER – let it go. No good comes from dwelling on the past.
Don’t whine about the bad in your life. Whining prolongs the problem and irritates the rest of us.
Keep your problems to yourself. The tolerant are your enemy, not your friend.
Keep your dreams to yourself. Naysayers can destroy your dreams by shaking your confidence.
Never make resolutions- they don’t work. They are task focused, not end-result focused.
Start with the end in mind. Know EXACTLY what you want your life to look like and make a plan.
Write things down. Problems get smaller when written down, goals become more real.
Expect derailment. You will experience setbacks. Big deal. Get over it and move on.
Don’t stop – unless you need to stop. Sometimes you discover it was a bad goal, or you need to rest, or you need to start over completely – otherwise, stay focused and keep the momentum going.
Celebrate. Not just at the end, but all along the way!

I would like to wish you a healthy, happy (and of course) prosperous new year!

'Twas the night before Christmas - 21st century style!

2011-12-15T09:00:00.000-08:00

A new twist on 'Twas the night before Christmas!

'Twas the night before Christmas, when all through the house
Not a creature was stirring, except Papa's mouse.
The computer was humming, the icons were hopping,
As Papa did last minute Internet shopping.

The stockings were hung by the modem with care
In hope that St. Nicholas would bring new software.
The children were nestled all snug in their beds,
While visions of computer games danced in their heads.

PageMaker for Billy, and Quicken for Dan,
And Carmen Sandiego for Pamela Ann.
The letters to Santa had been sent out by Mom,
To santaclaus@toyshop.northpole.com -

Which has now been re-routed to Washington State
Because Santa's workshop has been bought by Bill Gates.
All the elves and reindeer have had to skedaddle
To flashy new quarters in suburban Seattle.

After centuries of a life that was simple and spare,
St. Nicholas is suddenly a new billionaire,
With a shiny red Porsche in the place of his sleigh,
And a house on Lake Washington that's just down the way.

From where Bill has his mansion. The old fellow preens
In black Gucci boots and red Calvin Klein jeans.
The elves have stock options and desks with a view,
Where they write computer code for Johnny and Sue.

No more dolls or tin soldiers or little toy drums
Will be under the tree, only compact disk ROMS
With the Microsoft label. So spin up your drive,
From now on Christmas runs only on Win95.

More rapid than eagles the competitors came,
And Bill whistled, and shouted, and called them by name.
"Now, ADOBE! Now, CLARIS! Now, INTUIT! too,
Now, APPLE! and NETSCAPE! you are all of you through,

It is Microsoft's SANTA that the kids can't resist,
It's the ultimate software with a traditional twist -
Recommended by no less than the jolly old elf,
And on the package, a picture of Santa himself.

Get 'em young, keep 'em long, is Microsoft's scheme,
And a merger with Santa is a marketer's dream.
To the top of the NASDAQ! to the top of the Dow!
Now dash away! dash away! dash away - wow!"

And Mama in her 'kerchief and I in my cap,
Had just settled down for a long winter's nap,
When out on the lawn there arose such a clatter,
The whir and the hum of our satellite platter,

As it turned toward that new Christmas star in the sky,
The SANTALITE owned by the Microsoft guy.
As I sprang from my bed and was turning around,
My computer turned on with a Jingle-Bells sound.

And there on the screen was a smiling Bill Gates
Next to jolly old Santa, two arm-in-arm mates.
And I heard them exclaim in voice so bright,
Have a Microsoft Christmas, and to all a good night.

Best wishes to you and your family this holiday season!

Brett

'Tis The Season!

2011-12-01T11:08:00.000-08:00

HO HO HO! It’s that time of year! With Christmas right around the corner I thought I would share a few top money mistakes people make and some tips on how to avoid them!

So…what are some of the biggest budget blowers out there?

Not having a budget has to be number one! Well before Christmas arrives and before you just head to the mall to spend spend spend, make sure that over the year you set aside how much you are going to spend! For budgeting help, check out the spreadsheets available in the resource section on our website - Click here: Budgeting made easy!

Not shopping around. While it doesn’t make sense to burn gas, time and the aggravation of driving around to save a couple pennies, it does make sense to check online to do some comparison shopping! Eliminate the stress of trying to fight for that last parking stall! Check your shopping list and fire up the computer – many retailers offer some awesome online ‘only’ deals!

The credit hangover! Use your budget. DON’T charge everything to store or credit cards – the credit hangover you will get in January has a tendency to linger on for months!

Scrooge or Santa? It’s so easy to get caught up in the spirit of the season but for most of us it just isn’t feasible to buy for everyone! Prioritize a list and stick with it!

Bigger is better. It sure seems like most holidays have become materialistic. Sometimes the best gifts are the personal home made ones that cost more in thought - not money!

Two ears and one mouth. Listen to what people on your list are saying. Is dad always losing screw drivers? Is mom using baking sheets from the 30’s? If you can’t figure out what to buy perhaps it’s because you haven’t been listening. When you hear a great gift idea write it down!

Those are just a few tips that come to mind. Don’t forget about what Christmas is all about. Spend time with family and friends. Celebrate. Be safe and remember that people matter – not things.

Remember to manage your own economy!

OMG! It’s gonna cost me What?

2011-11-14T15:42:00.000-08:00

Here is a dilemma that hits home for me! Two children (age 6 and almost 3) who I will have to help put through school! Why? Well, according to Stats Canada, University graduates earn about twice as much per year compared to those with a high-school education so I would have to say that the long term benefits outweigh the costs of education!

The numbers are scary! It is estimated that the current cost of four years of post-secondary education is over fifty grand (I prefer writing it out – not quite as scary compared to seeing $50,000!). To make matters worse, in 18 years when my almost 3 year old is ready to go to University it is estimated that it will cost over $100,000! This is based upon the assumption that costs rise by 4% per year. Wow! I don’t even want to tell you what that number would be if costs went up 8%!

Now, there are numerous sports and academic grants and scholarships but at the end of the day there is still a huge burden on us parents to come up with the rest. Keep in mind that the education costs are assuming not only tuition fees but room and board as well (plus whatever goodies they want – I mean need!). The bottom line is that a large sum of cash needs to be saved to get the education in order to get the bigger paycheck!

There are a few ways to attempt to save this cash but for today, I would like to focus on the RESP (Registered Education Savings Plan). While the RESP does have some rules attached to it, it is a great vehicle to use. The biggest benefit to the RESP is the CESG (Canada Education Savings Grant). In a nutshell, the grant is equal to 20% of the annual RESP contribution to a maximum of $500 per year per beneficiary. The lifetime grant is $7,200 (remember – that’s $7,200 of FREE money). The government is giving us money here and that is something that doesn’t happen too often!

Now you don’t get a tax break for the money you put into the RESP but the funds do grow tax-free. The RESP withdrawals are taxed in the student’s hands and for the most part are almost tax-free since any amount owing is offset by the education credit and personal tax credit. The funds can be used at any qualifying college or university and some apprenticeship and correspondence programs!

What happens if after all those years your child decides not to go to college or university?? Well, you get your principal returned and any returns on that money can usually be rolled into your RRSP – which avoids the tax. Of course all the grant money would go back to the government.

This is just a snapshot of some of the pros of RESP’s and I invite you to contact me for all the details pertaining to your own situation. Personally, I am going to do the best I can to save for my daughters education - but I will also expect them to work and contribute to it as well!

Oh yea…remember earlier when I said I didn’t want to tell you what the costs would be if they increased by 8%? Well, changed my mind – about $225,000! Time to start saving!

Remember to manage your own economy!

What’s the point of a Net Worth Statement?

2011-11-04T15:44:00.000-07:00

How are you really doing financially? Are your assets going up, down or nowhere at all? What are you worth?? Perhaps its time to take a look!

These are questions that you should know the answer to and a Net Worth Statement will do the trick! In a nutshell, your net worth is simply your assets minus your liabilities – if you added up the value of everything you own and subtracted everything you owe, you will come up with your net worth. Your net worth is a great reference point and can be used to easily compare how you are doing on an annual basis. It helps you analyze where your worth really is and where it could be improved upon (this is true asset allocation but we will get into that in another blog!).

What else is this handy little statement good for? Let’s take a look!

How about getting a loan! If you are looking at refinancing or getting a new loan, your lender will require you to provide them with a summary of your existing assets and liabilities. Your net worth will largely affect the credit limit that the lender would give you.

Let’s talk saving $$$$! Your net worth statement provides you with a strong incentive to save, I mean who doesn’t want to see their overall worth rise! Knowing what you are worth now should provide some motivation to save more or pay down debt ultimately increasing your net worth.

Cash Management. A net worth statement will give you a clear idea of what you own and what you owe resulting in being able to best identify your greatest source of cash should you run into an emergency.

Your Financial Story (what I call financial planning) and a net worth statement is essential! It will help you decide and clarify things such as: how are you going to provide for your retirement - where are the funds going to come from? How are you going to put the kids through University? I’m done with my boss and want to start my own business but where is the money going to come from?

Those are just a few things a net worth statement will show you. It will help you make the appropriate decisions about your money and your investments. One thing to keep in mind – be real! Use current market values of your assets – not what you ‘hope’ or ‘think’ they are worth! For fixed assets, use the 90 day rule – how much could you get for your house if you needed it sold in 90 days? There’s your number!

Take the time to do a net worth statement. Know where you are and where you want to go.

Remember to manage your own economy!

You will find a great net worth statement that you can download and keep up to date at:www.kelownafinancialplanner.com/links.html

The markets love uncertainty - NOT!

2011-10-20T14:00:00.000-07:00

Our world today is different from yester years and so are our markets. There is and always will be uncertainty looming that will shake the markets! We will hear news about debt or earnings that will send the markets down and many will start to believe chicken little (you know, the sky is falling cute little guy!). Next we will have a couple days where the markets go up and just when we think things have calmed down - more chicken little news!

What we need to understand and embrace is that there is always uncertainty and the markets don't like it! What exactly do I mean by uncertainty? Let's just say the markets react positively and negatively to life events where the outcome isn't known - phew! Look no further than the last decade alone. 2001 we had the 9/11 attacks and the war in Iraq - the markets didn't like that nor did they like the 08' US financial crisis. Recently the headlines are causing a stir over Europe's debt crisis and guess what - next year we have an election in the US...uncertainty looms!

What to do? DO NOT PANIC! Time will solve the world's debt problems and things like economic growth and profits will return. Remember that election comment from above? Here is the thing, governments that created these uncertainties will be changed and un-solid countries will be rebuilt. Once this occurs there will be less uncertainty. Remember Y2K? The fear that computers wouldn't work after midnight Jan. 1st 2000 - people were stocking up on water,food and buying generators out of fear that all our services that are so dependent upon computers were going to be shut down! This is old news and is no longer a cause for concern - the uncertainty is gone. Just like that situation - what is uncertain today won't be in the future!

What does behavioral finance teach us? To put it simply, our brains, that are full of emotions, make us smart at times and not so smart at other times! In times like this, we need to increase the amount of times we are smart and profit from the folly rather than participating in it!

Back in March 2009 you likely would have never thought what a great time it would be to invest in the market - market fear was certainly at a high! To the contrary how many wanted to buy in early 2000 when you couldn't lose with technology! Another lesson of profiting from the folly!

Don't be Chicken Little - the sky is not falling! Remember to manage your own economy!

Count those Pennies!

2011-10-12T08:12:00.000-07:00

Good Ole Scottish Proverb…, “If you take care of the pennies, the dollars will take care of themselves.”

Consumption consumption consumption! We all want nice things (hell I certainly do!) and we all work hard to accumulate those things…they make us feel good! Lately though, many have, shall we say, overindulged themselves with nice things. Let's be honest, we can all admit to some type of overindulgence.

The trick with spoiling ourselves is how we pay for those nice things. Here is an old Scottish proverb that we should all consider once in awhile…“If you take care of the pennies, the dollars will take care of themselves.”

‘Yea, yea Brett, whatever,’ you are probably saying,’ another article that tells me to save more, spend less blah blah blah’. Well, we all need reminders every once in awhile and why not start at the bottom – with the penny. You know, those annoying little copper (or whatever they are made of now) little coins you ignore on the sidewalk. Let me show you how powerful those guys really are! Take a penny and double it. Take the result and continue to double it everyday for 30 days. I know you won’t believe me but you will end up with over – wait for it, ready, over 10 Million pennies or $107,000.00! No I haven’t gone crazy, grab your calculator! Isn’t the power of compounding great!!

Now those are some big numbers but the trick here is to find those pennies! Here are some suggestions:

If you own your own home and have a mortgage on it (like most), maybe rethink how you are paying that mortgage. If you are disciplined enough a home equity line can work great – but you have to be disciplined! If you don’t fall into that category, shop around for the best rates. Money won’t be this cheap forever! If you can, make bi-monthly or weekly payments. Stuff you’ve heard already but hey doesn’t hurt to be reminded

Dump the high interest credit cards! Search around for the lowest rates possible and cut those other ones up! Just look at your statement, they all show that if you only make the minimum payment how long it will take to pay them off and the number of years is ridiculous! Every percentage point you save means less money on debt and more in your jeans! The best advice – if you use a credit card, pay it off and don’t carry a balance. Chances are most of the purchases were wants not needs anyways!

Cell phones, Internet, Cable; Satellite (those great luxury things we all can’t do without!) – If you’ve been a good customer for many years call them. Ask what they can do for you. I did and saved over $30 per month on my cell phone alone!

One of the best old tips - pay yourself first! And I mean FIRST! Consider yourself as a monthly bill. We should be able to live off 90 or 95% of our income!

In order to keep that compounding going you need to make sure you have an emergency fund for yourself. Create a pool of money that is only used for a rainy day. That way, you can keep paying your bills – yourself included!

Take control of your current cash flow. Start today. It doesn’t matter what you did or happened in the past, control your future…look through the windshield not the rear view mirror (one of my favourite sayings!)

Have a clearly written plan with attainable goals. Find those pennies and put them to work for you!

Remember to manage your own economy!

Is your mortgage insured? Where? By Who? Know the facts!

2011-10-05T16:01:00.000-07:00

So, you’ve taken the plunge and made arguably the most important financial decision of your life! You’ve bought that house! You’re excited and dreaming about moving in and making it your own. Your loans officer says “you want your family protected right?” and you say “of course!” You sign and shazamm your big debt is insured – you’ve done the right thing and protected your family.

Do you really know what you are paying for though? Let’s review the differences between Mortgage Insurance and Life Insurance.

Mortgage Insurance

Another term for the bank’s mortgage insurance is Creditor Protection (sounds important eh!). This simply means that in the event of your death the beneficiary is the bank! They get their mortgage repaid – THEIR butts get covered. What about your family? Will they still be able to live there? Maybe interest rates are so low it wouldn’t be the smartest choice to pay off the mortgage?

Seeing how most are watching where their money goes – bank insurance is usually more costly than the same coverage (with better benefits) available through a planner.

The good ole bank can cancel your coverage (at their discretion, of course) if you decide to change banks and their insurance isn’t guaranteed when your mortgage is up for renewal.

One of my biggest issues with this type of coverage is that the bank does what is called ‘Post Claim Underwriting’. What this simply means is that after you die the medical issues are explored. So, there is a chance your claim could be denied.

My favorite: The banks insurance only covers the value of your mortgage! As your mortgage gets paid down your insurance coverage decreases but your insurance payments don’t. Doesn’t sound too fair!

Ok, let’s check out a better alternative…

Life Insurance

YOU get to choose the beneficiary and your beneficiary gets to decide what to do with the money! Should the house get paid off? Do the kids need money for college? Options, options, options!

Private life insurance is usually cheaper than mortgage insurance. Who doesn’t like to save a few bucks!

With your own life insurance you can switch lenders – do whatever you want because you own the policy (not the bank).

Unlike mortgage insurance, with life insurance, all the underwriting is done BEFORE you are issued the policy. You can rest assured that your claim will be paid out (there are a few ‘small’ print items here that could affect a payout, but trust me, if you are honest and don’t commit suicide you shouldn’t have any issues!)

Ahhh, the best yet – when you buy a private policy you can lock in your premiums and guarantee them for a set number of years and they won’t go up during that time and your coverage won’t decrease either! Bingo!

In a nutshell, an independent planner (like myself!) can research the best companies and rates for your unique situation. When you know you are going to buy that house, give us a call right away to apply for a policy that benefits YOU and YOUR family!

P.S. Don’t get addicted to cheap money when looking at that awesome house – remember to manage your own economy!

Not a BIG WIG??? Why you DO need a financial plan!

2011-09-27T21:44:00.000-07:00

THE Big Wig!

So, you don’t have millions (yet!) and maybe you are paycheck to paycheck right now. If that’s the case, why would you ever want to invest (yes I said invest – your time is worth something you know!) your time working with someone to create a financial plan? Those terms, ‘financial plan’ and ‘wealth management’ are only for the wealthy right? Not at all! I would argue that starting, and following, a well designed plan is just as important, if not more, while you are building your wealth.

Think about it this way; can you imagine if you were packing up and getting ready to go on a road trip and you grab your map (I mean GPS!) and all it shows is your starting point and ending point? Nothing in between – where will you get gas, food, go to the can!?? Will you go up a hill, over a bridge, down a cliff!? Well you get my point.

Now that investment of your time – what’s it worth? Possibly hundreds, thousands, maybe millions! We have become the ‘want it, get it now society’ in that we don’t really take the time to properly access what the consequences of our actions might be. Why is it that on a nice day we go to check out the car lots or some open houses and end up making a huge buying decision in a matter of hours but we are too lazy to take a few hours every month to see ‘where are we at?’ How will this affect our plan?

So, gathering all your financial info to see where you’re at requires time, work and most importantly a lot of looking in the mirror – soul searching! The numbers don’t lie. Are you spending more than you make? It’s sometimes hard to face the facts. We all need to do this and a financial plan can help. By seeing where your money is going you can see where changes could, and possibly should, be made.

It’s not all depressing either! A large portion of your plan will be allocated to saving for the stuff we all want – a new TV, Car, Boat, Retirement or whatever your goals are. And let’s face it, things are always more appreciated when they are earned!

A financial plan (or whatever term you want to use) should be used during all of life’s stages – from building to preserving wealth. Ask yourself this - why do all the ‘big wigs’ have teams of accountants, lawyers, and financial planners working for them? I think they must have learned a few things while becoming big wigs!!

Don’t be lazy, invest some time, define your goals, be real and grow wealthy!

Manage your own economy and get your plan started today - Give me a call!

I HOPE I win the Lotto!

2011-09-21T15:39:00.000-07:00

Over all it’s human nature to be optimistic. It’s also human nature to have hope. Hope is one component of a healthy state of mind - the opposite of being negative. Being negative in life can lead to anger, disappointment and depression. After all, if the world is such a negative place, what’s the point of living in it!

Ok Brett, what does this have to do with my investments you are probably asking? Well, with investing, hope is not a help but instead a hindrance! Once we take a position in a fund, we obviously want that fund to grow. But if the fund that we bought is a real value, and we bought it right – we should be content to sit with that fund (so long as the manager is doing a good job!) in the knowledge that over time its value will grow without your help, without you hoping!

When you have value on your side all you need is patience. Hope shouldn’t play any part in this process. You don’t need hope, because we bought the fund when it was a great value, and bought it at the right time.

With investing, hope gets in the way of reality and common sense. Unfortunately, hope is a money-loser in the investment business.

My suggestion is that you avoid hope with your investments. Have hope when you buy your next lotto ticket!

Forget it and instead embrace cold, clear, reality. Markets are cyclical and governments are un-predictable. We can’t control markets or governments – all we can control are our own actions. Decisions to buy or sell need to be educated ones and for the right reasons at the right time.

Investment strategies don’t include hype or hope!

Remember to Manage Your Own Economy!

The U.S. Housing Market Meltdown… Why’d it Happen there and Not Here?

2011-09-12T08:21:00.000-07:00

So why did the US housing market sucker punch its citizens the way it did, while the Canadian housing market maintained some resiliency?

Well, there are some key differences between our mortgage market and that of the States… check out the craziness below!

Teaser Contracts and Low Rates

Adjustable rate mortgages with teaser contracts of low or zero interest introductory rates aren’t offered here. Phew – that way we don’t have to worry about our payments skyrocketing at much higher rates once they reset!

Nationwide Banking System

Unlike the U.S., Canada has always had a nationwide banking system, which made us one of the few countries that did not experience bank failure through the recent global crisis. Not one Canadian financial institution needed to get bailed out! Go Canada!

More Conservative Options

Simply put, we tend to choose more conservative mortgage options and have less debt than Americans. However, that trend is somewhat changing…. don’t get addicted to cheap credit!

What’s a NINJA Mortgage??

Get this! Before all hell broke loose, Americans could apply for a mortgage without the lender verifying their job status or income! This led to these mortgages being phrased NINJA, for “no income no job no assets.” These Ninja mortgages along with Sub-prime lending - both types of unregulated lending not available in Canada - are largely considered to be the leading cause of the U.S. housing market meltdown.

Mortgage Interest Deductible

In the U.S. people can deduct mortgage interest against their taxes, and as a result, it’s more tempting to leverage your home to the hilt and borrow against it.

All that being said, thankfully our banking system has more prudent lending practices which should help protect our home values. However, it is up to all of us to take responsibility in not getting addicted to cheap money.

Great lessons about what not to do can be learned from our neighbours to the south. Remember it is up to you to Manage Your Own Economy!

Welcome to our new blog!

2011-09-08T12:43:00.000-07:00

Things are changing at a very quick pace in the world today and now more than ever the importance of being able to distinguish between information and knowledge is crucial to your financial success.

This blog will replace the article of the month and contain a mix of my personal thoughts and views about what is happening in the world of finance as well as some fun stuff along the way! On the tabs section of the blog you will find links to connect with me on Twitter, Linked In & Facebook along with a link to my website.

I welcome your comments and encourage you to manage your own economy!

Brett