You’ve been checking the calendar each week and now that magical day is here. No more alarm clocks going off in the dark. No more bagged lunches to eat at 12:00 pm sharp. No more car pooling or riding the bus. Yes – you are now retired!

Now what?

Most of us can’t wait for that day to arrive, but we have to ask ourselves, ‘Will I be ready?’.

It will of course be great to sleep in, if we want to, or go for that early morning walk or round of golf. Those are the fun things to being retired but, ‘Are you prepared?‘.

There is a lot to consider when preparing for the time when you actually retire.

• Are you financially prepared to live the life style that you had intended?
  Or are there some things holding up that plan?
• Will you be caring for an ageing parent
  or still helping your children through university or college?

Caring for elders can be a burden, both financially and emotionally. Care homes can be very costly depending on the type of care needed. In this case first you have to deal with the parent (s) finances. Are their investments in order? Do they need to sell their home and invest the cash to provide a monthly income to live in the retirement facility, or will you be footing the bill? Having elderly parents living with you can cause quite a strain on families. In Europe this may be a common theme, but in Canada most families would find this rather strenuous.

Do you still have dependent children? Many people are having children later in life, so it is not uncommon for the children to be still in school when you decide to retire. Hopefully you will have planned ahead by investing in RESPs or some other form of saving for their education.

Consider these before you retire.

• You might want to set up a trust for a disabled or mentally challenged child or to help pay for your grandchildrens’ education.
• If you run a small business, you may need a succession plan detailing how the family will carry on your business. You could continue to receive revenue or you might just sell altogether.
• Once you are retired, collecting a pension or RRIF payments, receiving CPP and if you are old enough OAS, there is something else you must put in order – your estate.It is very important for everyone to have a will. If you want to pass on your “estate” to the right people, it must be stipulated in a will. If you do not have a will when you die, you will have died “intestate”, making settling your affairs a more lengthy and costly procedure. There are ways to lessen the tax blow on your passing. There are ways to leave your spouse investments that will not incur taxes payable immediately.

There is nothing more empowering as being set financially. I am always available to chat and have coffee. There is no pressure coming into my office, I genuinely care about my clients, there is nothing more satisfying as having happy clients.

In my practice, I work with my clients and their lawyer or accountant to set up the necessary plans.

Comments or questions – Colleen Pfannenschmidt (250) 979-2722
or email colleen.pfannenschmidt@raymondjames.ca

Do you know whom you are letting into your apartment building?

If you don’t, I hope your insurance is paid up because it might just cost you and the other owners a deductible!

Relying on burglar courtesy is one of the easiest ways for an intruder to enter a building. If you’re one of those people who can’t allow a door to close in a strangers face, you better be ready to ask a few questions.

Questions like, “Who are you? or Who are you here to see?” If you’re not prepared to screen the person you’re letting into the building, then don’t let them in! This not only applies to residents but to legitimate visitors as well.

Being a do-gooder defeats the purpose of locks and puts the building at risk of a possible break-in. Remember that not all burglars wear a mask and black gloves. In most cases, they look like average people and can be well dressed.

Burglars have an uncanny way of slithering through the front door with an unsuspecting owner or visitor. You have a moral obligation to make sure that these sneaky thieves do not enter under any circumstances without first contacting the person they are there to see.

I’m sure that “aiding in a burglary”, is not something you want on your resume. Although unknowingly that’s exactly what you may be doing when you allow an unidentified person into the building.

Locks are meant to keep the “Bad Guys” out, so don’t reverse the process by letting courteousness overtake you and create another statistic. The most effective security must incorporate everybody’s effort. Like the domino effect, if one domino isn’t cooperating, it spoils it for the rest.

This report specifically written by Frank Fourchalk and is presented as a general source of information only, and is not intended as a solicitation to buy or sell services. Frank Fourchalk is a recognized security expert with over 17 years experience. He has a security column running in over 15 newspapers from Vancouver BC to Pretoria, South Africa. His columns continue to grow and he has recently signed on with the New York Post. For more information on home security, visit his website at yourhomesecurity.ca

One of the many great things our patients tell us after laser vision correction is how nice it is to be able to wear non-prescription sunglasses. Some people even have multiple pairs so they can choose which ones match certain fashions or sports. A greatly expanded array of choices are offered in non-prescription sunglasses. Some of the key considerations are:

UV protection – Sunglasses should block 99 to100 percent of both UVA and UVB light. A “UV 400” label indicates that 100 percent of UVA and UVB light are blocked. The price of the sunglasses does not necessarily indicate how much UV light is blocked. Even inexpensive sunglasses can provide good UV protection.

Lens color – Lens color is a personal preference. Color does not affect ability to block UV light. “My personal favorite sunglass lens is brown polarized,” says Dr. Joel Casey. “The brown color seems to enhance contrast and make green colors more vibrant. Polarized lenses decrease reflections from horizontal surfaces such as water, roads, and snow.”

Lens transmission - This refers to how much visible light passes through a lens. A dark lens has lower transmission. Like lens color, this also does not correlate with the amount of UV light blocked. Degree of lens transmission is a personal choice based upon comfort and the type of conditions in which the sunglasses will be used. Sunglasses used when walking on a glacier should be darker than those worn for fashion.

Specialty lenses - Polarized lenses decrease transmission of light reflected from flat surfaces and are a favorite for fishing to make it easier to see into water. They are also great for driving to cut glare from roads and dashboards. Photochromic lenses are triggered by UV light to turn lighter or darker depending on the level of UV light conditions. Gradient tints are darker at the top of the lens and lighter at the bottom. Mirrored lenses decrease transmission by reflecting light from the surface of the lens.

Lens materials – Sunglasses lenses can be made from either glass, or CR-39 or polycarbonate plastic. Traditionally, glass lenses have the best optics and are the most scratch resistant but suffer from being heavy and may shatter upon impact. They are most often found in fashion styles. Polycarbonate lenses are a better choice for sports sunglasses as they are the lightest, most impact resistant and can be manufactured with a greater curvature or wrap but they are more prone to distortion and scratching. CR-39 plastic lenses are the most commonly used lenses as they are the most economical.

Frame Styles – There is a huge array of frame styles to match every fashion taste and sports specific function. Non-prescription sunglass lenses can be made with greater curvature allowing frame styles to also have more curvature or “wrap”. This gives greater protection from UV light coming in from around the sunglasses.

Cost – The price of sunglasses does not relate to how well they block UV light. Even an inexpensive pair of sunglasses can protect eyes from UV light as well as a high priced brand name style. Price influences the optical quality of the lens with higher priced lenses usually having less distortions, hard coats to prevent scratching, and anti-reflective coatings to decrease glare from light reflected off lens surfaces. In addition, price is usually evident in the quality of the frame.

Overexposure to UV light from the sun can create problems for your eyes. Sun damage can cause conditions such as photokeratitis (sunburn to the cornea), cataracts (clouding of the inner lens of the eye), pterygium or pinguecula (yellowish tissue deposits on the white of the eye next to the cornea), macular degeneration (deterioration of the central vision area of the retina), and even skin cancer on the eyelids.

“There are many situations here in the Okanagan where the use of sunglasses will enhance comfort and provide eye health benefits as well,” said Dr. Joel Casey. “Information suggests that protecting the eye and surrounding tissue from UV light exposure is extremely important. The choices for non-prescription sunglasses make using them convenient, economical and most important . . . fun!”

This report specifically written by Dr. Joel Casey and is presented as a general source of information only, and is not intended as a solicitation to buy or sell services. Dr. Casey is a registered Optometrist who works with team from the Kelowna Laser Vision Inc. group who are celebrating over 16 years of helping B.C. residents attain their goal of visual freedom. He is located in Kelowna, BC. Comments or questions – Dr. Joel Casey can be reached Toll Free: 1-866-951-5665 (LOOK) or by email eyes@kelownalaservision.com or by visiting www.kelownalaservision

You need a good strategy with good advice to reduce or defer as long as possible the amount of tax on your retirement income. You also need to make sound investments by hiring the best managers (Canada has some of the best in the world).

Shingles is a disease caused by the same virus that causes chickenpox. If you have ever had chickenpox, this virus is quietly hiding out in the roots of your nerves and can re-activate causing a painful, sometimes excruciating, skin rash. This is known as Shingles “Herpes-Zoster”

Approximately 95% of Canadians have had Chickenpox and are therefore at risk of Shingles. Nearly one in three people will develop Shingles in their lifetime and the risk increases as we get older. Two thirds of people who get Shingles are over the age of 60. Many others will have the virus resurface due to low immune systems. This can occur due to illness, use of drugs that suppress the body’s immune system, HIV, Cancer or radiation treatments.

When the virus becomes active again, you may get symptoms such as a rash, upset stomach, headache, fever and chills. The pain that is associated with the rash has been described as burning, throbbing, stabbing or shooting pains. The rash produces painful, fluid filled blisters usually on one side of the body or face. The rash can last several weeks and the pain will lessen as the rash heals. For some patients however Shingles can cause severe pain for months and even years after the rash has healed. This is called “Postherpetic neuralgia” (PHN). For people with PHN even a breeze or the touch of clothing can cause severe pain. Other complications of Shingles can include scarring, skin infections, a decrease or loss of hearing, eye infections that may result in blindness and muscle paralysis. In rare cases shingles can even result in death.

If you develop any symptoms your doctor can verify the disease and administer an Antiviral drug that will work best if started within three days of developing the rash.

Until recently there was no prevention for Shingles, now there is a vaccine that has been developed called “Zostavax”. This is the first and only vaccine indicated to help prevent Shingles in individuals sixty years or older. The vaccine is a live weakened virus vaccine. Possible side effects from this vaccine include redness, pain, swelling, itching and warmth at injection site, headaches and possible fever. At this time, with limited information, the vaccine will protect against Shingles for 4 years.

Your doctor can prescribe the vaccine for you. Due to the storage specifications the vaccine is not stocked by many pharmacies. Visit or contact your local pharmacist or a Travel Medicine and Vaccination Clinic for more information.

Remember … it’s important to always talk to your doctor to see if a vaccine is right for you.

I’m often approached by new parents with a recurring question:

“Our child’s grandparents would like to start putting some money away on their behalf. What is the best way for them to do this?”

There are several investment vehicles this money can go into and each one can have an enormously positive impact on the child’s financial future. When started right from birth, these various investments have many years to grow and can often substantially or even completely cover future expenses that will arise.

The R.E.S.P. Gift

The first expense which we often recommend setting up an investment for, is the child’s post-secondary education. Registered Education Savings Plans grow surprisingly quickly due to the benefits of their tax advantaged status and the government grants that add a 20% bonus to your deposits. If you were to put as little as $25 per month into an RESP when your grandchild is born, they would have $13,000 set aside for their education by the time they reach 17 years of age. Depending on the education path that is chosen, a $100 per month contribution could fully fund a grandchild’s entire university education!

The Universal Life Gift

The Tax Free Savings Account Gift

It all adds up!

This report was specifically written and submitted by Brett Millard, CFP of Thom & Associates Financial Planners Inc., Investia Financial Services (Kelowna, BC). It is presented as a general source of information only, and is not intended as a solicitation to buy or sell specific investments, nor is it intended to provide legal advice. Clients should discuss their situation with a certified consultant and seek advice based on their specific circumstances. Comments or questions – Brett Millard can be reached at (250) 863-6505 or by email brett@thomandassociates.com

Do you remember when your parents sat you down to have “the talk”? At that time, it was the last thing you wanted to hear and likely included some anxious moments and uncomfortable feelings.

Well, it could be time to think about another “talk” but, not with your kids – with your parents.

Many of us are reluctant to discuss health and finances with our parents until a crisis occurs. A sudden health issue can reduce estate planning options, as well as increase costs. That’s why discussions and preplanning are so crucial. “The talk” can be a difficult and emotional conversation to have. However, the benefits of knowing your parents’ wishes can be extraordinary.

If your parents’ health allows it, they should be involved in making decisions about their living arrangements, level of care and estate plans. Your role is that of supporter and information gatherer. Here are some tips that can make having “the talk” easier and assist you in finding answers to your questions and theirs:

• Timing is everything–have your conversation well before a crisis occurs.
• Consider that your parents may also be waiting for an opportunity to have a discussion about their future with you, and you are providing a welcome opening.
• Use ice-breaking strategies such as offering to help with their estate planning or seeking their help with your retirement planning.
• Keep in mind that your parents want and need to maintain their independence and dignity.
• Listen, and try to understand their fears and anxieties.
• Make sure that the conversation focuses on your parents’ health and well being and your love and concern for them.

Once you feel comfortable approaching your parents about having “the talk”, it is important to know what to discuss. Here are some tips on what to talk about:

• Income – what are your parents’ sources of income, and do any conditions apply? For example, do they know how their monthly income will change when one of them passes on?
• Investments– have your parents designated beneficiaries for their registered investments and insurance policies? If so, who are they?
• Expenses – what are your parents’ expenses and will their income along with any government aid) be sufficient to cover projected home or personal care costs that may escalate with age?
• Insurance – what types of insurance coverage do your parents have? Are there any holes that may need to be filled to protect the value of their estate?
• Wills– do your parents have up-to date wills? Without a will, unnecessary taxes may be payable upon their death, there is an increased potential for contentious litigation, and the very real possibility that their wishes won’t be taken into account.
• Executor – have your parents designated a personal representative (sometimes called an executor, or liquidator in Quebec) in their wills? This person (or trust company) is responsible for winding up their affairs and distributing assets and bequests in accordance with their wills.
• Enduring Power of Attorney – have your parents given someone the power to make financial decisions on their behalf if either or both of them become incapacitated?
• Living Will – (sometimes called a health directive and not valid in all provinces) have your parents provided explicit directions about the personal and medical care they desire should they become incapacitated? Have they appointed someone to make these decisions on their behalf? Have they considered a successor?

Be sure you know the location of your parents’ wills and other legal papers, as well as the location and content of their bank accounts and safety deposit boxes.

There are many financial and estate planning strategies available to your parents as they age. We can help sort out the details and ease the awkwardness of “the talk”, by bringing an outside perspective to your discussion.

And, while you’re at it, take a look at your own situation. If you’d like help creating a plan to cover any of the possible turns in your own life, call us.

This report specifically written and published by Investors Group is presented as a general source of information only, and is not intended as a solicitation to buy or sell specific investments, nor is it intended to provide legal advice. Prospective investors should review the annual report, simplified prospectus, and annual information form of any fund carefully before making an investment decision. Clients should discuss their situation with their Consultant for advice based on their specific circumstances. Commissions, trailing commissions, manage-ment fees and expenses all may be associated with mutual fund investments. Mutual funds are not guaranteed, their values change frequently and past performance may not be repeated. ™Trademark owned by IGM Financial Inc. and licensed to its subsidiary corporations. “Having ‘the talk” ©2008 Investors Group Inc. Comments or questions – Michael Dunchuck and/or Richard Nash can be reached at (604) 270-7700 or by email richard.nash@investorsgroup.com

---

]]> http://experiencegroup.ca/financial-services/the-parent-talk/feed/ 0 http://experiencegroup.ca/leisure-and-travel/motorcycle-bootcamp/ http://experiencegroup.ca/leisure-and-travel/motorcycle-bootcamp/#comments Tue, 13 Apr 2010 17:33:03 +0000 admin http://experiencegroup.ca/?p=4535 Learner’s Permit Boot Camp,
Motorcycle Mechanics &
Group Riding.

by Tania Meyer, Executive Director

Kelowna & District Safety Council
395 Hartman Road, Kelowna, BC, V1X 2M9
(across from the YMCA in Rutland)
250-765-3163
www.kdsc.bc.ca

The Kelowna & District Safety Council has a busy month planned for motorcyclists! Now the roads are clear and the weather is warming up, riders are out on the streets. KDSC has lots to offer for the riding enthusiast. In addition to its staple of Learn to Ride courses, KDSC will be holding another Learner’s Permit Boot Camp on Tuesday April 20th, 6 –9pm at our Hartman Road location.

This class is FREE to anyone interested in obtaining their Class 6 license, and who would like some help in preparing for the Learner’s Permit test. ICBC stats show that 46% of people fail their Learner’s Permit test on their first attempt, and these Boot Camps have proved really popular in helping new riders grasp the complex concepts outlined in the ICBC study guide.

The Boot Camp will also provide students with helpful tips on how to study, how to take multiple choice tests, and how to reduce test anxiety. It will let students know how the test is structured, and provide some tips on how to make their first test attempt a successful one. The class is open to the public – it is not limited to those who are registered in KDSC’s Learn to Ride motorcycle training program.

A 6th Annual Motorcycle Mechanics class is scheduled for Sunday April 25th from 9am – 12pm. This class will help riders perform general maintenance safely on their own bikes. Longtime sponsors Kelowna Yamaha will be sending one of their licensed mechanics to host the three hour session at KDSC at 395 Hartman Road, across from the YMCA in Rutland. The course is open to the public, and riders are encouraged to bring their own bikes so that they can ask questions about their specific makes and models.

“Basic maintenance on a motorcycle can be costly,” says Tania Meyer, Executive Director of the Kelowna and District Safety Council, “and there are many things that riders can be trained to do themselves. The course will feature a detailed segment on how to perform a proper pre-trip inspection, and students will also learn how to change their oil, how to adjust the chain, clutch, and the brakes, as well as many other do-it-yourself fixes that can safely be done by riders.” The course will also outline jobs better left to a professional mechanic, and is only $25.

KDSC will also be hosting a Group Riding course on Thursday April 29th from 6pm – 9pm. This seminar is open to anyone interested in learning about safe group riding procedures. Topics covered will include types of rides, pros and cons of group riding, planning the ride, pre-ride meetings, roles and responsibilities of various riders in the group, lane positioning for group riding, changing lanes, and more. This is a great course for both riders and their passengers!

Anyone interested in KDSC’s motorcycle programs can call 765-3163 to register. For more information visit www.kdsc.bc.ca or find our advertisements in the North Okanagan Shuswap or Central Okanagan editions of Experience^TM Magazine.

Complimentary coffee and donuts will be served at each of the above programs.

Tania Meyer is the Executive Director of the Kelowna & District Safety Council. She can be reached by calling 250.765.3163 or toll-free 888.580.7233 or by email at tkmeyer@kdsc.bc.ca. This is a PSA.

---

]]> http://experiencegroup.ca/leisure-and-travel/motorcycle-bootcamp/feed/ 0 http://experiencegroup.ca/financial-services/a-womans-view-2nd-in-series/ http://experiencegroup.ca/financial-services/a-womans-view-2nd-in-series/#comments Thu, 08 Apr 2010 13:49:13 +0000 admin http://experiencegroup.ca/?p=4209 Don’t Blow That Windfall!

by Colleen Pfannenschmidt, Financial Advisor
Raymond James Ltd

]]> http://experiencegroup.ca/financial-services/a-womans-view-2nd-in-series/feed/ 0