Newsletter June 2009

Find us on the web at www.janeabellay.com
Volume II, Issue iii, June 2009

Recession? Time to spring clean & refocus

Recessions are usually regarded as nasty times as unemployment soars, home prices fall, stock markets sputter and public confidence decreases.
The US is calling this time “The Great Recession”. And although we aren’t feeling the recession as greatly as the US, we are feeling the repercussions.

But it is a great time to take a clean sweep of your financial plan and ensure you are focused on paying down debt, putting money into your savings account for emergencies, and saving for retirement. Here are a few steps to do just that:

1. Analyze your credit card statement. What is your interest rate? Call your credit card company and find out if they will reduce the interest rate on your card. In some cases, if you have been a good client, they will reduce it for you.

2. Are you paying for Balance Insurance? This is a waste of money. Balance insurance, which you pay dearly for, is an insurance on credit cards that if you cannot pay your balance due to disability or death, the credit card company will pay it off for you. Seems like a good plan, right? Not really – The credit card companies will make it very hard for you to claim this should something happen. Talk to your financial advisor about alternative ways to protect your debt.

3. Do you have a monthly payment plan set up to pay into your savings account for emergencies and special projects? The government this year introduced Tax Free Savings Accounts. A great way to boost your savings without paying tax on the interest earned.
4.
5. Do you have a monthly payment plan set up for retirement? Its never too early or too late. Take advantage of the low markets NOW!!

Talk to your advisor to get your spending under control and your savings started. Economists say we are at the bottom so now is the time to get focused and start a plan!

Retirement = Doing What You Want To Do

Retirement doesn’t always have to mean you quit working completely. Gone are the days when at age 65 you define the line between work and no-work. Retirement means that now you can sit back and do what you love to do. Whatever you plan on doing, it should be worked into your retirement planner.

New changes to CPP legislation this year says that you don’t have to retire-or fake your retirement-to start collecting CPP at age 60. You have a choice to collect it, even if you decide to keep working past age 60.
Some people decide to keep working past retirement because:

• They love working, they find considerable enjoyment and satisfaction in keeping busy doing part-time work. Whether its handyman projects on the side, volunteering for a local charity or working part-time in retail, you can continue to work beyond your retirement age.

• For people who love to interact with others, work life provides a chance to stay connected with people and meet new friends.

• Post retirement part-time work also provides income! By working part-time income into your retirement plan will ensure you can stretch your pension and RRSP’s further!

By giving your retirement some planning and thought, and discussing your dreams with your financial advisor, you can ensure you won’t outlive your savings and you can enjoy a more meaningful retirement!

Upcoming Events

This fall we are hosting P.I.N.K, a four workshop series designed exclusively for women by women. P.I.N.K is designed to educate and equip Canadian women of all ages and income levels with the information, acumen and solutions needed to help grow their capital, provide for retirement and protect their personal, business and family assets.

P.I.N.K embraces all the key elements of a financial plan:
Protection – preserve your capital and protect your family
Investment - grow your money and manage your wealth
Need - understand the unique financial challenges facing women
Knowledge - access to insightful financial information and a network of expertise

Join us for this exclusive four-seminar event
presented For Women By Women!
To register, or for more information email janea@performancefinancial.ca

You must RSVP to register as this event is by invitation only.
The first seminar is scheduled for Tuesday, September 29, 2009 at the Willows Golf & Country Club

Tax Free Savings Account – 3% Until June 30

Tax Free Savings Accounts – Earn 3% until June 30
Earn 3.00% on your savings . . . open a Tax-Free Advantage Account today
Open a Manulife Bank Tax-Free Advantage Account and your savings will get 3.00% from June 1 – June 30, 2009.1
Tax-Free Advantage Account is a great new way to shelter your savings without locking them in. Earn this high rate of interest and keep it all for yourself! At a time when growth is vital, Manulife Bank gives your tax-free savings a strong start.
Call me at 306-281-3891 to open a Tax-Free Advantage Account today or visit www.manulife.ca to learn more.
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1 The minimum interest rate for the Tax-Free Advantage Account is 3.00% for the period June 1 to June 30, 2009. Interest is calculated on the total daily closing balance and paid monthly. After June 30, 2009 this rate is not guaranteed and is subject to change without notice.

Janea Bellay, Insurance & Investment Advisor

Janea Bellay is an independent insurance and investment advisor, specialized in a unique 360 degree financial planning approach for individuals and families:

Liquidity accounts - Your spending, savings and retirement accounts
Family Security - Maintaining life insurance for all life’s unexpected financial needs
Family Protection – Maintain your current lifestyle even if there are unexpected illnesses such as cancer, heart attack or a stroke
Retirement Planning – Are you putting enough away and into the right investments to retire successfully?

Performance Financial Services Inc.
217-3501 8th Street East
Saskatoon, SK S7H 0W5
Tel: (306) 281-3891
Fax: (306) 956-3141
janea@performancefinancial.ca
www.janeabellay.com

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Questions or comments? E-mail us at janea@janeabellay.com or call 306-281-3891.

LEGAL DISCLAIMER

Janea Bellay is an independent self-employed insurance and investment representative, licensed to sell insurance and investment products and services through Performance Financial Services Inc. This is an independent MGA brokerage, and part of the United MGA Group of Canada. Mutual funds are offered though Desjardins Financial Security Investments Inc. Commissions, trailing commissions, management fees and expenses may be associated with mutual fund investment. Please read the prospectus before investing. Mutual funds are not guaranteed, their values change frequently and past performance may not be repeated. The information in this article is not intended nor should it be considered as providing specific legal or tax advice. Individuals should consult with their individual advisors to ensure that any information is applicable and appropriate to their specific situation.