Saving Today for a Richer Tomorrow®

Thursday, 8 February 2018

CPP, Are You Leaving Money on the Table? - What's On Your Mind - February 2018 Edition

Did you know that not everyone qualifies to receive a CPP monthly survivor benefit when their working spouse passes away? If you and your spouse have both contributed to CPP and have both paid in the maximum contributions then it is quite likely you will only be entitled to a one-time lump sum payment of $2,500 death benefit.

The Canada Pension Plan is set up as a pool. This means that your estate will not necessarily receive any of the contributions made by your deceased spouse. The pool is used to fund the people on CPP currently. Given that it could be a possibility if you are married or living common law with a working spouse, what are the alternatives?

Now may be a time to sit down with your financial advisor and discuss your options on how to best get the maximum amount of benefit possible. Since every situation is different you should figure out the best solution for you. It is not possible to predict the future but with careful planning you can try and beat the odds.

This planning should take place for most people between the ages of 59 and 65 although having a discussion with your financial advisor earlier will always be beneficial. As Canadians we pay more than our fair share of taxes without leaving more money on the table.

As always if you would like to know more or have ideas for future articles please feel free to call or email us.

Linda J. Levesque, CFP^®, FMA, FCSI®

Sr. Investment Advisor

Director, Private Client Group
HollisWealth®, a division of Industrial Alliance Securities Inc.

Levesque Wealth Planning

Insurance Advisor

Hollis Insurance Inc.

One Corporate Plaza, 2075 Kennedy Road, 5^th Floor, Toronto, ON M1T 3V3
Tel: 416-412-8018 / 1-800-322-4030
Fax: 416-332-6772
linda@levesquewealthplanning.com

‘Saving Today for a Richer Tomorrow’®

WANT TO USE THIS ARTICLE IN YOUR WEB SITE?

You can, as long as you include this complete statement with it: Linda J. Levesque, Senior Investment

Advisor and Director, Private Client Group of HollisWealth® is an author of The 5 Minute Wealth Plan, Saving Today for a Richer Tomorrow, in The Road to Success with Jack Canfield and in The Authorities, Powerful Wisdom from Leaders in the Field. If you're ready to jump-start your life, have more fun and joy in all that you do, get a FREE consultation from Linda J. Levesque

This information has been prepared by Linda J. Levesque who is an Investment Advisor for HollisWealth® and does not necessarily reflect the opinion of HollisWealth. HollisWealth® is a division of Industrial Alliance Securities Inc., a member of the Canadian Investor Protection Fund and the Investment Industry Regulatory Organization of Canada. The information contained in this newsletter comes from sources we believe reliable, but we cannot guarantee its accuracy or reliability. The opinions expressed are based on an analysis and interpretation dating from the date of publication and are subject to change without notice. Furthermore, they do not constitute an offer or solicitation to buy or sell any of the securities mentioned. The information contained herein may not apply to all types of investors. The Investment Advisor can open accounts only in the provinces in which they are registered. Levesque Wealth Planning is a personal trade name of Linda J. Levesque. Insurance products provided through Hollis Insurance Inc. For more information about HollisWealth, please consult the official website at www.holliswealth.com.

Wednesday, 3 January 2018

Top 3 Reasons Most New Years Resolutions Fail - What's On Your Mind - January 2018

Every year it’s the same thing. Before we know it another year has gone by in a blink of an eye. At least that is how it feels to me. Most of us will be thinking about what we have accomplished over the year and the things we didn’t get to complete. The challenge for a lot of people is that every year they make resolutions and goals only to have to admit that nothing changed.

This brings me to the top three reasons that most resolutions or goals fail. The first reason is that most goals are usually someone else’s goals. A lot of people have a goal to lose weight or stop smoking after the holidays. The reason people will fail at this goal is because it was a goal they felt they needed to do but didn’t really want. You cannot be successful in a goal if it isn’t your goal. Where is the motivation to stick with it?

The next reason your goals can fail is because it is not written out with an action plan. Goals without a plan of action is just a wish. It would be nice to have but really I don’t want to have to do anything to get it. It is like the old saying of expecting a different result doing exactly what you have done in the past. Nothing ever changes, nor will it. Stop doing what you have always done and start making a plan.

The third reason your goals can fail is that they were unrealistic and you knew it when you made them. If you never believed you would achieve the goal, you never would. This is what is called a self-fulfilling prophecy. You got what you believed you would get because whatever the mind can conceive and believe it can achieve.

This year set yourself up for success. Write out your goals with a plan of action and a date beside each goal. Be specific of what YOU want, not somebody else’s goal. Make sure you believe it can be achieved and use the Law of Attraction to help you succeed. If you want something bad enough, the desire and the decision to get it will bring you closer to succeeding. It is your life and your choice. What do you have to lose if you try something new? You may surprise yourself and have your best year ever.

Happy and Successful New Year.

Linda J. Levesque, CFP^®, FMA, FCSI®

Sr. Investment Advisor

Director, Private Client Group

HollisWealth®, a division of Industrial Alliance Securities Inc.

Levesque Wealth Planning

Insurance Advisor

Hollis Insurance Inc.

One Corporate Plaza, 2075 Kennedy Road, 5^th Floor, Toronto, ON M1T 3V3

Tel: 416-412-8018 / 1-800-322-4030

Fax: 416-332-6772

linda@levesquewealthplanning.com

'Saving Today for a Richer Tomorrow’®

WANT TO USE THIS ARTICLE IN YOUR WEB SITE?

You can, as long as you include this complete statement with it: Linda J. Levesque, Senior Investment Advisor and Director, Private Client Group of HollisWealth® is an author of The 5 Minute Wealth Plan, Saving Today for a Richer Tomorrow, in The Road to Success with Jack Canfield and in The Authorities, Powerful Wisdom from Leaders in the Field. If you're ready to jump-start your life, have more fun and joy in all that you do, get a FREE consultation from Linda J. Levesque

Monday, 4 December 2017

Will it Be Happy Holidays or a Financial Disaster? - What's On Your Mind? - December 2017 Editon

Tis the season where a lot of people are feeling quite charitable. In fact scammers and fraudsters are counting on it. Last month I was one of many people who was contacted by telephone regarding taxes owing to CRA. I know I am current with my taxes regardless of what anyone on the telephone might tell me. Luckily I did not fall prey to this scam. Unfortunately the call made to me was a recording so I could not give these people a piece of my mind. Other people have received calls with a live person on the other end. Some of these people were not so lucky and fell prey to the fraudster. The police indicated there were at least 40 residents in York Region who fell for this scam by paying what they thought was their overdue taxes by using virtual currency known as Bitcoin. Bitcoin is unregulated and untraceable so it makes it difficult for the police to track. If in doubt take the request using much published telephone numbers for CRA and call to ask whether there are outstanding taxes. The scammers are well trained to be intimidating. If you use an accountant, call your accountant to confirm your taxes.

Now that the holidays are around the corner there may be many fraudsters wearing many different hats such as people claiming to collect for charities and counting on the holiday spirit in you. Make sure you check out the charity or stick with reputable charities such as The Salvation Army.

There are even scammers with the sophistication such as hacking a family member’s telephone number pretending your loved one is kidnapped. Some fraudsters will use the telephone and some might send you official looking emails. Always check directly with the source such as your bank, CRA, family member, etc. before making any unexpected payments. Keep diligent and informed about any new scams and pass the word around. Keep your information private so hopefully you will not become the next statistic this holiday season.

Happy and Financially Healthy Holidays to you and your family.

Linda J. Levesque, CFP^®, FMA, FCSI®

Sr. Investment Advisor

Director, Private Client Group
HollisWealth, a division of Industrial Alliance Securities Inc.

Levesque Wealth Planning

Insurance Advisor

Hollis Insurance Inc.

One Corporate Plaza, 2075 Kennedy Road, 5^th Floor, Toronto, ON M1T 3V3
Tel: 416-412-8018 / 1-800-322-4030
Fax: 416-332-6772
linda@levesquewealthplanning.com

‘Saving Today for a Richer Tomorrow’™

WANT TO USE THIS ARTICLE IN YOUR WEB SITE?

You can, as long as you include this complete statement with it: Linda J. Levesque, Senior Investment Advisor and Director, Private Client Group of HollisWealth is an author of The 5 Minute Wealth Plan, Saving Today for a Richer Tomorrow, in The Road to Success with Jack Canfield and in The Authorities, Powerful Wisdom from Leaders in the Field. If you're ready to jump-start your life, have more fun and joy in all that you do, get a FREE consultation from Linda J. Levesque

This information has been prepared by Linda J. Levesque who is a Sr. Investment Advisor for HollisWealth® and does not necessarily reflect the opinion of HollisWealth. HollisWealth® is a division of Industrial Alliance Securities Inc., a member of the Canadian Investor Protection Fund and the Investment Industry Regulatory Organization of Canada. The information contained in this newsletter comes from sources we believe reliable, but we cannot guarantee its accuracy or reliability. The opinions expressed are based on an analysis and interpretation dating from the date of publication and are subject to change without notice. Furthermore, they do not constitute an offer or solicitation to buy or sell any of the securities mentioned. The information contained herein may not apply to all types of investors. The Investment Advisor can open accounts only in the provinces in which they are registered. For more information about HollisWealth, please consult the official website at www.holliswealth.com.

Insurance products provided through Hollis Insurance Inc. Levesque Wealth Planning is a personal trade name of Linda J. Levesque.

Tuesday, 7 November 2017

Owning vs. Renting, What makes financial sense? What’s on Your Mind? November 2017

As the population ages and we are planning for retirement, the question that comes up a lot is should I rent or downsize? Most people that have lived in the larger homes while raising their families think that the house is now too big and too empty without the children at home.

Initially a lot of us purchased homes as a place to raise the family and as a forced savings. Homes had built in equity over time. But as we become empty nesters this leads us to what makes financial sense going forward.

There are perks to both owning and renting. I will address some of the more common considerations of each. Owning your home or downsizing to a smaller home gives you the stability of making it yours with each improvement you do. No one will tell you what you are allowed to do with your property and the costs remain relatively fixed. The downside of course is that you are fully responsible for all the maintenance, increased property taxes and having someone look after the place if you are a snowbird.

Deciding to rent, your costs are fixed to the monthly rent. Annual increases are limited for most rental units. Any time something goes wrong you just have to call the landlord or superintendent for repair. My mother’s stove just went and since she rents, she called up the super and viola she has a new stove. No extra outlay of cash and no time spent shopping for the stove. Depending on where you rent, you may have other amenities included in your rent that owning a home would cost you. Gyms, pools, etc. are included in many buildings. Renting in a downtown core for conveniences is usually more affordable than buying properties in these locations.

Freeing up the equity from the sale of your property could potentially allow you to enjoy your retirement more if money was an issue for the extras. Some people become house poor at retirement. You could end up with a limited lifestyle experience while having a lot of time but not having the money to do the fun stuff because it may be unaffordable to you. If you think limiting your activities to stay in your home and be cash poor but house rich for the sake of leaving a bigger estate to your children, there is insurance for that. So while there is no right or wrong answer to renting or owning, it becomes a personal decision on what kind of lifestyle you want versus what kind of lifestyle you can afford.

Linda J. Levesque, CFP^®, FMA, FCSI®

Sr. Investment Advisor

Director, Private Client Group
HollisWealth, a division of Industrial Alliance Securities Inc.

Levesque Wealth Planning

Insurance Advisor

HollisWealth Insurance Agency Ltd.

One Corporate Plaza, 2075 Kennedy Road, 5^th Floor, Toronto, ON M1T 3V3
Tel: 416-412-8018 / 1-800-322-4030
Fax: 416-332-6772
linda@levesquewealthplanning.com

‘Saving Today for a Richer Tomorrow’™

WANT TO USE THIS ARTICLE IN YOUR WEB SITE?

Wednesday, 4 October 2017

The Trade Off - What's On Your Mind? - October 2017 Edition

When did we lose our way? I am a baby boomer. Growing up life was simple. We didn't have much, we didn't want much, and we certainly didn't expect much. Today with social media, radio, television, we are inundated with advertisements of what we should want.

With 47% of Canadians living pay to pay, when did we get lost with what we wanted instead of what we needed? Today it is a balancing act to get what we want, get what we need, using all that we got.

So using all that we got, we now find ourselves in a position of living with massive debt. Those 47% of Canadians living pay to pay would find themselves in a financial pickle if their pay were delayed by even one week.

What happened and how do we change this? This is where the trade off happens. You have to go back to basics. Start going over where all the money is being spent and where a lot of expenses could be cut. Start by listing the expenses of what you need. These expenses would be food, shelter, clothes and transportation. The rest of what you're spending your money on, you need to take a hard look at. No more keeping up with the Joneses. What's important is a happy family. The family is happier with little or no debt than the stress of living with a lot more useless stuff and the stress of massive debt.

Think about what's important about money to you and make some changes in your life today. The ultimate goal should be happiness and living a debt-free life.

Linda J. Levesque, CFP^®, FMA, FCSI®

Sr. Investment Advisor

Director, Private Client Group
HollisWealth, a division of Industrial Alliance Securities Inc.

Levesque Wealth Planning

Insurance Advisor

HollisWealth Insurance Agency Ltd.

One Corporate Plaza, 2075 Kennedy Road, 5^th Floor, Toronto, ON M1T 3V3
Tel: 416-412-8018 / 1-800-322-4030
Fax: 416-332-6772
linda@levesquewealthplanning.com

‘Saving Today for a Richer Tomorrow’™

WANT TO USE THIS ARTICLE IN YOUR WEB SITE?

Insurance products provided by HollisWealth are provided through HollisWealth Insurance Agency Ltd.

Friday, 8 September 2017

The Two Faces of Divorce - What's On Your Mind - September 2017 Edition

Nowadays it is more common to hear about somebody getting a divorce then it was 30 or 40 years ago. If 50% of marriages end in divorce you would think people would be prepared for the emotional side of ending their marriage. There are many reasons why people get a divorce but when it comes right down to it, most people are not emotionally prepared to go through this life-altering situation.

During the time of separation and then actually going through the divorce you may want the marriage to end so badly that you are prepared to give more than your fair share just to end the relationship and move forward. You believe you can rebuild your life and your financial net wealth so it is worth giving up more now. The problem with this way of thinking is that when the dust settles, you realize that you lost a great percentage of your net wealth. This can be a huge set back to your financial goals.

It's never just about the money but in the end it's all about the money. Just because two people can't live together anymore doesn't mean that they shouldn't be fair to each other when it comes to splitting assets. There are ways of splitting assets that should be considered. It doesn't have to be a fight with lawyers. Lawyers can handle the legal part of your divorce. If two people can live together for the time that you have, then those two people should be able to discuss a fair split on the things that they built together. Once this is done, the emotional side of divorce kicks in.

Divorce can be like going through a death. You must be prepared for the emotional roller coaster you will be on when ending your marriage. You need time to grieve. Understand that the emotional roller coaster you go on, is normal. You may want to look back and remember all the good things that you had with your partner and forget about the real reasons you got the divorce.

Most people that have support of family and friends to help them move forward with life, will get through this a little easier. Thinking you made a mistake and want to try one more time is rarely successful. It is unusual for people to get remarried to the same person and stay married. There was a reason you divorced. (Always exceptions to the rule). When you made the decision to divorce, it was a huge emotional and financial decision that I assume was not made lightly. So expect the emotional roller coaster, expect the grieving, and then expect that this too shall pass and you can move forward with your new life. This means a new financial plan that you can decide, all by yourself.

Coming soon my new book called, All By Myself; Wealth Planning on One Income.

Linda J. Levesque, CFP^®, FMA, FCSI®

Sr. Investment Advisor

Director, Private Client Group
HollisWealth Insurance Advisor

HollisWealth Insurance Agency Ltd.

Levesque Wealth Planning

HollisWealth®, a division of Industrial Alliance Securities Inc.
One Corporate Plaza, 2075 Kennedy Road, 5^th Floor, Toronto, ON M1T 3V3
Tel: 416-412-8018 / 1-800-322-4030
Fax: 416-332-6772
linda@levesquewealthplanning.com

‘Saving Today for a Richer Tomorrow’™

WANT TO USE THIS ARTICLE IN YOUR WEB SITE?

You can, as long as you include this complete statement with it: Linda J. Levesque, Senior Investment

Advisor and Director, Private Client Group of HollisWealth is an author of The 5 Minute Wealth Plan, Saving Today for a Richer Tomorrow, in The Road to Success with Jack Canfield and in The Authorities, Powerful Wisdom from Leaders in the Field. If you're ready to jump-start your life, have more fun and joy in all that you do, get a FREE consultation from Linda J. Levesque

Insurance products provided by HollisWealth are provided through HollisWealth Insurance Agency Ltd.

Wednesday, 2 August 2017

The Only Constant is Change, iA takes over HollisWealth - What's On Your Mind - August 2017

Change goes on daily in our lives. If you have been a client of mine for any length of time you know that there are always changes going on here. Having been at Kennedy Road for over 21 years, we have had our share of changes including company mergers. As of end of day August 4^th, Scotia Capital Inc. will no longer own HollisWealth. Our new owners and hopefully the last merger for a while, will be Industrial Alliance Financial Group. iA for short. Going through transitions over the years you realize that it is just business as usual.

While in the past we have had new email addresses and even company name changes I want to tell you that this time there will be no changes or disruption to the emails or to the HollisWealth name.

iA is a Canadian company founded in 1832. While many of you may not know this company, they are huge in Quebec and secondly in Ontario. This company was known more for its insurance products than investment products. Having said this, they have access to all investment products you have come to know. iA is a company wanting to expand the investment side of their company and have been recently buying up a lot of independent advisory firms. HollisWealth was a company iA really wanted to acquire because of our independent advice and representation right across the country.

New account numbers will be assigned to you because iA operates different back office systems. The impact to you is when you want to do your online deposits. After August 4^th, you will need to enter your new account number under HollisWealth. You can always contact our office if you need any assistance. For those of you viewing your accounts on-line, you will be getting new access codes. The online experience will be enhanced for those of you that care to explore.

iA will be sending out a new administrative fee schedule in August.

We will be calling or emailing our calendar to start booking appointments from mid-August on to start updating your existing accounts over to iA. In the meantime, once you have your new access codes you can view and make your online deposits as usual. Everything will remain the same.

If you have any questions regarding the transition over to the new owners you can call and discuss with any of our team. Enjoy the rest of your summer and we will see and talk to you soon.

Linda J. Levesque, CFP^®, FMA, FCSI®

Sr. Investment Advisor

Director, Private Client Group
HollisWealth Insurance Advisor

HollisWealth Insurance Agency Ltd.

Levesque Wealth Planning

HollisWealth, a division of Scotia Capital Inc.
One Corporate Plaza, 2075 Kennedy Road, 5^th Floor, Toronto, ON M1T 3V3
Tel: 416-412-8018 / 1-800-322-4030 Fax: 416-332-6772
linda@levesquewealthplanning.com

‘Saving Today for a Richer Tomorrow’™

WANT TO USE THIS ARTICLE IN YOUR WEB SITE?

This article was prepared solely by Linda J. Levesque who is a registered representative of HollisWealth®

HollisWealth is a trade name of Scotia Capital Inc. and HollisWealth Insurance Agency Ltd. HollisWealth is a division of Scotia Capital Inc., a member of the Canadian Investor Protection Fund and the Investment Industry Regulatory Organization of Canada. Brokerage services provided by HollisWealth are provided through Scotia Capital Inc. Insurance products provided by HollisWealth are provided through HollisWealth Insurance Agency Ltd. ® Registered trademark of The Bank of Nova Scotia, used under licence. The views and opinions, including any recommendations, expressed in this article are those of Linda J. Levesque alone and not those of HollisWealth. Levesque Wealth Planning is a personal trade name of Linda J. Levesque. HollisWealth and the Scotiabank companies do not provide income tax preparation services nor do they supervise or review other persons who may provide such services.