Blog

http://www.visualcapitalist.com/7-techniques-to-improve-memory/

Smartphones and the internet have changed just about everything, including our brains.

With limitless information at our fingertips, it’s no surprise that our ability to store and recall information has begun to atrophy. This mental reliance on technology is often referred to as the Google Effect.

A recent report suggested that 50% of people make no effort to recall information or seek answers from those around them before searching online. Also, two-thirds of consumers say that by letting their devices do the mental legwork, it enables them to achieve more.

How to Remember Anything

Loci

Acronyms

Rhyming

Linking

Chunking

PQRST Preview, Question, Read, State and Test

Write it Down

I probably use write it down the most, I also say to myself when I think I have forgotten a person's name, "that is funny, it is not like me to forget a person's name, I'll recall it later brain" . Another good way, is to invest money with us, we seldom forget those people's name.  

Looking ahead to 2018 (December 2017)

Planning for – or even thinking about – 2018 taxes when it’s not even mid-December 2017 may seem more than a little premature. However, most Canadians will start paying their taxes for 2018 with the first paycheque they receive in January, and it’s worth taking a bit of time to make sure that things start off – and stay – on the right foot.

For most Canadians, (certainly for the vast majority who earn their income from employment), income tax, along with other statutory deductions like Canada Pension Plan contributions and Employment Insurance premiums, are paid periodically throughout the year by means of deductions taken from each paycheque received, with those deductions then remitted to the Canada Revenue Agency (CRA) on the taxpayer’s behalf by his or her employer.

Quick Download for Federal Form TD1 & respective Provincial Forms

https://www.canada.ca/en/revenue-agency/services/forms-publications/td1-personal-tax-credits-returns/td1-forms-pay-received-on-january-1-later.html

Of course, each taxpayer’s situation is unique and so the employer has to have some guidance as to how much to deduct and remit on behalf of each employee. That guidance is provided by the employee/taxpayer in the form of TD1 forms which are completed and signed by each employee, sometimes at the start of each year, but certainly at the time employment commences. Each employee must, in fact, complete two TD1 forms – one for federal tax purposes and the other for provincial tax imposed by the province in which the taxpayer lives. Federal and provincial TD1 forms for 2018 (which were recently posted on the CRA website at https://www.canada.ca/en/revenue-agency/services/forms-publications/forms.html) list the most common statutory credits claimed by taxpayers, including the basic personal credit, the spousal credit amount, and the age amount. Adding amounts claimed on each form gives the Total Claim Amounts (one federal, one provincial) which the employer then uses to determine, based on tables issued by the CRA, the amount of income tax which should be deducted (or withheld) from each of the employee’s paycheques and remitted on his or her behalf to the federal government.

While the TD1 completed by the employee at the time his or her employment commenced will have accurately reflected the credits claimable by the employee at that time, everyone’s life circumstances change. Where a baby is born, or a son or daughter starts post-secondary education, a taxpayer turns 65 years of age, or an elderly parent comes to live with his or her children, the affected taxpayer will be become eligible to claim tax credits not previously available. And, since the employer can only calculate source deductions based on information provided to it by the employee, those new credit claims won’t be reflected in the amounts deducted at source from the employee’s paycheque.

Consequently, it’s a good idea for all employees to review the TD1 form prior to the start of each taxation year and to make any changes needed to ensure that a claim is made for any and all credit amounts currently available to him or her. Doing so will ensure that the correct amount of tax is deducted at source throughout the year.

Where the taxpayer has available deductions which cannot be recorded on the TD1, like RRSP contributions, deductible support payments or child care expenses, it makes things a little more complicated, but it’s still possible to have source deductions adjusted to accurately reflect the employee’s tax liability for 2018. The way to do so is to file Form T1213, Request to Reduce Tax Deductions at Source (available on the CRA website at https://www.canada.ca/en/revenue-agency/services/forms-publications/forms/t1213.html) with the CRA. Once that form is filed with the CRA, the Agency will, after verifying that the claims made are accurate, provide the employer with a Letter of Authority authorizing that employer to reduce the amount of tax being withheld at source.

Of course, as with all things bureaucratic, having one’s source deductions reduced by filing a T1213 takes time. Consequently, the sooner a T1213 for 2018 is filed with the CRA, the sooner source deductions can be adjusted, effective for all paycheques subsequently issued in that year. Providing an employer with an updated TD1 for 2018 at the same time will ensure that source deductions made during 2018 will accurately reflect all of the employee’s current circumstances, and consequently his or her actual tax liability for the year.

Year-end tax planning – some steps to take before December 31st (December 2017)

As the 2017 calendar year winds down, the window of opportunity to take steps to reduce one’s tax bill for the 2017 tax year is closing. As a general rule, tax planning or tax saving strategies must be undertaken and completed by December 31^st, in order to make a difference to one’s tax liability for 2017. (For individual taxpayers, the only significant exception to that rule is registered retirement savings plan contributions. Such contributions can be made any time up to and including March 1, 2018, and claimed on the return for 2017.)

While the remaining time frame in which tax planning strategies for 2017 can be implemented is only a few weeks, the good news is that the most readily available of those strategies don’t involve a lot of planning or complicated financial structures – in many cases, it’s just a question of considering the timing of expenditures which would have been made in any case. Below is a list of the most common such opportunities available to individual Canadians.

Charitable donations

The federal government and all of the provincial and territorial governments provide a tax credit for donations made to registered charities during the year. In all cases, in order to claim a credit for a donation in a particular tax year, that donation must be made by the end of that calendar year – there are no exceptions.

There is, however, another reason to ensure donations are made by December 31^st. The credit provided by each of the federal, provincial, and territorial governments is a two-level credit, in which the percentage credit claimable increases with the amount of donation made. For federal tax purposes, the first $200 in donations is eligible for a non-refundable tax credit equal to 15% of the donation. The credit for donations made during the year which exceed the $200 threshold is, however, calculated as 29% of the excess. Where the taxpayer making the donation has taxable income (for 2017) over $202,800, charitable donations above the $200 threshold can receive a federal tax credit of 33%.

As a result of the two-level credit structure, the best tax result is obtained when donations made during a single calendar year are maximized. For instance, a qualifying charitable donation of $400 made in December 2017 will receive a federal credit of $88  ($200 × 15% + $200 × 29%). If the same amount is donated, but the donation is split equally between December 2017 and January 2018, the total credit claimable is only $60 ($200 × 15% + $200 × 15%), and the 2018 donation can’t be claimed until the 2018 return is filed in April 2019. And, of course, the larger the donation in any one calendar year, the greater the proportion of that donation which will receive credit at the 29% level rather than the 15% level.

It’s also possible to carry forward, for up to 5 years, donations which were made in a particular tax year. So, if donations made in 2017 don’t reach the $200 level, it’s usually worth holding off on claiming the donation and carrying forward to the next year in which total donations, including carryforwards, are over that threshold. Of course, this also means that donations made but not claimed in any of the 2012, 2013, 2014, 2015, or 2016 tax years can be carried forward and added to the total donations made in 2017, and the aggregate then claimed on the 2017 tax return.

When claiming charitable donations, it’s possible to combine donations made by oneself and one’s spouse and claim them on a single return. Generally, and especially in provinces and territories which impose a high-income surtax – currently, Ontario and Prince Edward Island – it makes sense for the higher income spouse to make the claim for the total of charitable donations made by both spouses. Doing so will reduce the tax payable by that spouse and thereby minimize (or avoid) liability for the provincial high-income surtax.

This year, there is an additional last-chance incentive for Canadians who have not been in the habit of making charitable donations to make a cash donation to a registered charity. In the 2013 Budget, the federal government introduced a temporary charitable donations super-credit. That super-credit (which can be claimed only once) allows individuals who have not claimed a charitable donations tax credit in any tax year since 2007 to claim a super-credit on up to $1,000 in cash donations made during the year. The super-credit works by providing an additional 25% credit for cash donations. Consequently, when the super-credit is combined with the regular charitable donations tax credit, the total credit claimable is equal to 40% (15% + 25%) of donations under $200 and 54% (29% + 25%) of donations over the $200 threshold. This year (2017) is the last year for which the super-credit can be claimed, and only in respect of qualifying donations made before the end of the year.

Timing of medical expenses

There are an increasing number of medical expenses which are not covered by provincial health care plans, and an increasing number of Canadians who do not have private coverage for such costs through their employer. In those situations, Canadians have to pay for such unavoidable expenditures – including dental care, prescription drugs, ambulance trips, and many other para-medical services, like physiotherapy, on an  out-of-pocket basis. Fortunately, where such costs must be paid for partially or entirely by the taxpayer, the medical expense tax credit is available to help offset those costs. Unfortunately, the computation of such expenses and, in particular, the timing of making a claim for the credit, can be confusing. In addition, the determination of which expenses qualify for the credit and which expenses do not isn’t necessarily intuitive, nor is the determination of when it’s necessary to obtain prior authorization from a medical professional in order to ensure that the contemplated expenditure will qualify for the credit.

The basic rule is that qualifying medical expenses (a lengthy list of which can be found on the Canada Revenue Agency (CRA) website at http://www.cra-arc.gc.ca/medical/#mdcl_xpns) over 3% of the taxpayer’s net income, or $2,268, whichever is less, can be claimed for purposes of the medical expense tax credit on the taxpayer’s return for 2017.

Put in more practical terms, the rule for 2017 is that any taxpayer whose net income is less than $75,500 will be entitled to claim medical expenses that are greater than 3% of his or her net income for the year. Those having income over $75,500 will be limited to claiming qualifying expenses which exceed the $2,268 threshold.

The other aspect of the medical expense tax credit which can cause some confusion is that it’s possible to claim medical expenses which were incurred prior to the current tax year, but weren’t claimed on the return for the year that the expenditure was made. The actual rule is that the taxpayer can claim qualifying medical expenses incurred during any 12-month period which ends in the current tax year, meaning that each taxpayer must determine which 12-month period ending in 2017 will produce the greatest amount eligible for the credit. That determination will obviously depend on when medical expenses were incurred so there is, unfortunately, no universal rule of thumb which can be used.

Medical expenses incurred by family members – the taxpayer, his or her spouse, dependent children who were born in 2000 or later, and certain other dependent relatives – can be added together and claimed by one member of the family. In most cases, it’s best, in order to maximize the amount claimable, to make that claim on the tax return of the lower income spouse, where that spouse has tax payable for the year.

As December 31^st approaches, it’s a good idea to add up the medical expenses which have been incurred during 2017, as well as those paid during 2016 and not claimed on the 2016 return. Once those totals are known, it will be easier to determine whether to make a claim for 2017 or to wait and claim 2017 expenses on the return for 2018. And, if the decision is to make a claim for 2017, knowing what medical expenses were paid and when, will enable the taxpayer to determine the optimal 12-month waiting period for the claim.

Finally, it’s a good idea to look into the timing of medical expenses which will have to be paid early in 2018. Where those are significant expenses (for instance, a particularly costly medication which must be taken on an ongoing basis) it may make sense, where possible, to accelerate the payment of those expenses to December 2017, where that means they can be included in 2017 totals and claimed on the 2017 return.  

Reviewing tax instalments for 2017

Millions of Canadian taxpayers (particularly the self-employed and retired Canadians) pay income taxes by quarterly instalments, with the amount of those instalments representing an estimate of the taxpayer’s total liability for the year.

The final quarterly instalment for this year will be due on Friday December 15, 2017. By that time, almost everyone will have a reasonably good idea of what his or her income and deductions will be for 2017 and so will be in a position to estimate what the final tax bill for the year will be, taking into account any tax planning strategies already put in place, as well as any RRSP contributions which will be made before March 2, 2018. While the tax return forms to be used for the 2017 year haven’t yet been released by the CRA, it’s possible to arrive at an estimate by using the 2016 form. Increases in tax credit amounts and tax brackets from 2016 to 2017 will mean that using the 2016 form will likely result in a slight over-estimate of tax liability for 2017.

Once one’s tax bill for 2017 has been calculated, that figure should be compared to the total of tax instalments already made during 2017 (that figure can be obtained by calling the CRA’s Individual Income Tax Enquiries line at 1-800-959-8281). Depending on the result, it may then be possible to reduce the amount of the tax instalment to be paid on December 15 – and thereby free up some funds for the inevitable holiday spending!

Marriage breakdown and removal of spousal designation 

See my summary at the bottom, read the content and context  first, it can be a little confusing, there is two issues here  ++++

https://www.sunlife.ca/slfas/Investments/Sun+Guaranteed+Investment+AA+GIC/Removal+of+spousal+designation++Superflex?vgnLocale=en_CA

There must be no spousal or common-law partner contributions to any of the annuitant's RRSPs (i.e., RRSPs held with any issuer) for the year of the request and the two previous years. The annuitant's written statement should certify that the spouse, common-law partner, former spouse, or former common-law partner did not contribute to any of the annuitant's RRSPs in the calendar year of the request nor in the two immediately preceding calendar years. No withdrawals,   There must be no withdrawals from the spousal or common-law partner RRSP during the year of the request

http://www.jamiegolombek.com/articledetail.php?article_id=555

Unfortunately, due to the Canada Revenue Agency's concerns regarding the "spousal RRSP attribution rule," this isn't as easy as you think. The special anti-avoidance rule is
designed to prevent short-term income splitting. Simply put, if the annuitant spouse withdraws any funds from a spousal RRSP within three calendar years of any contribution being made, the withdrawal will be attributed back to the contributing spouse and taxed in his or her hands.

Luckily, this rule does not apply if the spouses or partners are living separate and apart at the time of withdrawal by reason of the breakdown of their marriage or common-law partnership.

https://www.canada.ca/en/revenue-agency/services/tax/individuals/topics/rrsps-related-plans/making-withdrawals/withdrawing-spousal-common-law-partner-rrsps.html

Exceptions

The rule that requires you, the contributor, to include certain amounts from spousal or common-law partner RRSPs, spousal or common-law partner RRIFs or, a spouse’s account under an SPP as income does not apply to the following situations:

• At the time of payment, or when we consider the payment to have been received, you and your spouse or common-law partner were living separate and apart because of the breakdown of your relationship.
• At the time of payment, or when we consider the payment to have been received, you or your spouse or common-law partner were non-residents of Canada.
• The amount is a commutation payment that is transferred directly for your spouse or common-law partner to another RRSP, a RRIF or an SPP or to an issuer to buy an eligible annuity that cannot be commuted for at least three years.
• The contributor dies in the year of payment or the year we consider the payment to have been received.
• We consider the deceased annuitant to have received the amount because of death.

In any such case, the annuitant spouse or common-law partner includes the payment in income for the year he or she receives it or is considered to have received it.

In all cases, the tax deducted has to be claimed by the individual to whom the slip is issued. In most cases, the information slip issued for the withdrawal will be in the name of the annuitant. However, report the income according to the calculations completed in Parts 1 and 2 of Form T2205.

+++++

Ok, so , don't withdrawal from a spousal until after separation has been well documented, to avoid the taxes being taxed on the contributors return. You may have to maintain the spousal rsp designation for up to 3 years after the last contribution, but that does not prevent withdrawals and the income from being taxed in the spouses hand that has the account after separation

Some commentary from our peers at Collins Barrows

"AgriInvest and AgriStability are two government subsidy programs that have been extremely valuable to Canadian farmers in recent years. AgriInvest allows farmers to put a percentage of their sales into a fund, where these contributions are matched by the government. The idea is to put money away in your best years, creating a cushion if you are ever short of cash or need extra funds to pay for equipment and supplies.

With AgriStability, your current year is compared to an average of three of the past five years, removing the best and worst years from this equation. If you fall 30 per cent below the average (in other words, if you have a really bad year), you are eligible for additional funding from the government. Both of these programs continue to be extremely valuable to farmers, but they have undergone recent changes that are worth noting."

https://www.collinsbarrow.com/en/cbn/blog/how-agriinvest-and-agristability-are-changing?utm_source=cb&utm_medium=lk&utm_campaign=blog

Canada Resource Site

http://www.agr.gc.ca/eng/?id=1479760073698

Other Programs

http://www.agr.gc.ca/eng/programs-and-services/?id=1362675650980

Every once in awhile we get the request about investing offshore. It's a complicated matter and I know there is a number of considerations. 

First, you wish to change your residence , this link will give you some perspective of what might be required, investment in a property or business

https://www.msn.com/en-ca/money/news/30-countries-where-buying-a-home-also-gets-you-a-new-passport/ss-BBGkxWr?ocid=spartandhp#image=1

For business's wishing to get their income taxed at lower rates, you will need to do some strategic planning if you are desiring to have a legal tax saving structure. Will add some tips on this as we develop this resource. Some firms specialize in this and will search these out. At first glance, you will need to have a significant taxable income to make this a practical course of action, fees and complexity will screen out many and most people will not be in such a place to utilize such structures. Implementing this stuff is typically kept pretty secretive as CRA is always on the hunt for people doing it wrong. Reflecting on the last one we got help with, the fees started at $7500 for the idea of the plan and then there would be the implementation costs. The whole process was under a shadow of secrecy. That was a few years ago, but I suspect the principals remain the same. You would want a very strong desire to go through the hoops to save tax. 

Dealing with your RSP's should you leave Canada

https://www.msn.com/en-ca/money/retirement/is-an-rrsp-worth-it-if-you%E2%80%99re-retiring-abroad/ar-BBGgEVr?ocid=spartandhp

"If you retire abroad, RRIF withdrawals and annuity income are subject to Canadian withholding tax. That tax rate depends on your country of residence in retirement and the withholding tax rate is generally 15-25% depending on the tax treaty (or lack thereof) between Canada and the country you live in at that time.

Lump-sum RRSP withdrawals are generally subject to 25% tax.

Most countries have a foreign tax credit mechanism whereby your Canadian tax withheld at source is credited against your foreign tax payable on the income in your country of residence. This prevents double taxation."

Off Shore Investment Warning

Because of the shroud of secrecy that is common practice and the complexity of the structures, there is high risk of scamming. One would have to be super diligent in the matter. We don't endorse this, but write about it as a way to help understand it better and hopefully protect one from it. 

These sites have a number of contacts and articles on the topic

http://www.offshoreinvestment.com/

Some of the history of these tax havens is interesting , take Liechtenstein as an example  https://en.wikipedia.org/wiki/Liechtenstein

Liechtenstein is situated in the Upper Rhine valley of the European Alps and is bordered to the east by Austria and to the south and west by Switzerland. The entire western border of Liechtenstein is formed by the Rhine. Measured south to north the country is about 24 km (15 mi) long. Its highest point, the Grauspitz, is 2,599 m (8,527 ft).

Belize , one hears lots about Belize, here is an example of one company that provides the services, similar to incorporating in Canada, but the ongoing maintenance fees are substantial in my humble opinion. If you have any substantial assets one would have to weigh the tax benefits against the fees to maintain. 

https://www.orionibc.com/offshore-company-formation-belize

Some insight as to why Belize might be useful

https://www.orionibc.com/offshore-financial-services

( I keep reminding everyone, that I am not endorsing any of this, pure information purposes only) 

Why Offshore Would Be Considered 

1. Tax Minimization

• A Belize Offshore Company is not subject to any taxes in Belize regardless of where its income is earned.

2. Asset Protection

• A Belize IBC can provide insulation against frivolous lawsuits separating ownership from personal individual liability.

3. Confidentiality

• No information pertaining to the identity of directors &/or shareholders need be filed on public record. An Offshore Company’s Register of Shareholders is available for inspection only by shareholders or by order of the Belize Courts at the request of any shareholder.
• No public filing requirements except Memorandum & Articles of Association.
• No need for annual returns or audited accounts thereby saving fees.
• Bearer shares may be issued.

4. Special Features

• An offshore company can hold and maintain accounts with banks in Belize or anywhere else in the world.
• An offshore company can hold shares in other offshore company and act as a director as well.
• An Belize Offshore Company can be used for numerous purposes such as:
  • Maintaining offshore bank accounts
  • General commercial trading
  • Financial management
  • Holding investment securities offshore
  • Leasing of assets
  • Corporate trustee
  • Share ownership in other companies
  • Ownership of intellectual property
  • Factoring
  • Real estate ownership
  • Transfer pricing
  • Ship ownership

5. Great Flexibilities & Easy Maintenance

• No exchange control restrictions.
• Efficient and simple incorporation for fast reaction to instant planning needs.
• Minimal capital requirement.  
• A offshore company may have only one director and one shareholder. Corporate director(s) are allowed. Directors need not be resident in Belize. 
• No requirements for a local director or secretary.
• No requirements for an annual general meeting.
• Meetings of directors &/or shareholders may be held in any country, at any time. Directors &/or shareholders may attend meeting by their proxy.
   

 Pro & Cons Article 

https://www.investopedia.com/articles/02/020602.asp

Advisor.ca is a good publication that I have some confidence in 

http://www.advisor.ca/tax/tax-news/understanding-offshore-investments-2705

This is the first installment, I will add more as I continue research on this topic, please add your comments that can help us better understand the challenges and advantages , it's not all about taxes 

As Christmas fast approaches , I see lots of tears being shed in my social feeds, for many I feel that sadness press close to my own heart as I miss them too. To help me deal with all the blessings that reflecting has on us, I thought I would gather all the good articles and memories I find here on this blog posting, so when we get to that place where we don’t know what to say, it will be here, spoken and written to bless others on this journey. In our business, there is an old saying, death and taxes, you can count on that. Two painful topics. https://www.allworship.com/christmas-heaven/

Digitizing Your Money

Came across a neat video from Telus and there was some real great tips in it. One item caught my eye and it dealt with budgeting.

https://www.youtube.com/watch?v=J5mA_dFtFSc&list=PLhhVyaUmOQupOP7yTxqUkV1H662iKKjH0&index=33

Stephen recommended a couple online tools.  The first  was You Need A Budget, it cost $83.99 USD a year , they give the average per month, it's unfortunate that they don't simply charge monthly, it would be a better business model in my mind.

https://www.youneedabudget.com/method/

Check out the 4 rules

1. Give Every Dollar A Job

2. Embrace Your True Expenses

3. Roll With The Punches

4. Age Your Money

Money Coaching , great idea, a couple hundred dollars a month for coaching, buy the book option as well, some great blogs and tips

https://mevest.ca/money-coaching/

http://lesleyscorgie.com/

https://www.facebook.com/lesley.scorgie.3

I had some thoughts about the video, about digitizing money and specifically that you don't need to pay fee's section of the video, see below, no guarantee that they will not hid my thoughts. Interestingly they had 47,716 views of the video but only 3 comments over the last 5 days, and I was the third, so what does that mean ? I don't know, just an observation.

Timothy Ross 1 second ago Nov 28 2017 6:30pm

Great video series, love the flow and the encouragement in them, they touch on a lot of great stuff, however the negative side is it discredits the value that a good financial advisor brings to the equation, it's not just about the numbers. Some of the claims in the video's are not really true, they are frankly and needlessly shaded,. The premise that the index is an exact mirror is simply not true, the cost of the ETF's that are ultimately being promoted if you did a little deeper are around  .15%  for expenses and the management fee is .40% , so total is .55 % MER as per one of the ETF's being promoted. Not sure why they don't just say it will be .55% or some range , less that the market every time is interesting. Yes human's make errors, but robots never make error's and markets are very rational, so there is a few parts to the equation that you got to take with a grain of salt, the realty is human's the people investing will make errors when markets fall and the robot is not going to cut it, you need an advisor to help you from making big mistakes.  The websites are beautiful, flow nicely, very slick and inviting. The purpose of the video series is probably to promote robo-advisors, etf funds , sell books for the speaker, get some money coaching from a fee for service advisor program,  Telus is maybe even getting a small participation fee. All of which is ok, just figured they would be more straight forward about it. Again, love encouragement of people to get started and to do it, just be more straightforward and don't bash those that work hard to serve their clients and communities. IMHO    Tim Ross #ImprovingFutures

Well, the count down to Christmas is on ! with less than a month to go, the birth of Jesus will be added to the ledger of time once again and Santa will get some credit in the hearts of many children, and the Spirit of Christmas will once again touch hearts and lift souls. 

I have been tasked to make stuffing for the Christmas Dinner this Friday at my church. So I have a few of the ingredients purchased and now have to give some thought to how I might prepare this dish. I remember a number of years ago doing the stuffing, and I kinda liked it, lets see if I can do it again!  

In the mean time, here is a list I found today, have not searched through it, might be some treats in there that you may want to try. 

https://www.msn.com/en-ca/foodanddrink/foodnews/101-christmas-recipes/ss-BBFvtlR?ocid=spartandhp

https://www.msn.com/en-ca/foodanddrink/foodnews/20-great-canadian-christmas-party-appetizers/ss-BBEXPIB?ocid=spartandhp

I have an order  in with a friend for a pecan pie should one appear at his church's bake sale this Saturday, and as back up plan, I'm in for a dozen butter tarts ! 

If anyone wants to drop any of these off at the office before Christmas, you have my permission in advance.

Thanks again

Tim

#ImprovingFutures

Our office at Brock Shores Financial located  in Tincap will be closed starting Wednesday Dec 20th , reopening Monday Jan 8th 2018 .

Some of the team may be stopping in from time to time during the holidays as we prepare for the new year in-case you see some activity. I will be monitoring my email at advisor@timothyross.com  as I always do, so please reach out that way and I will do what I can to help.  Many of us will be travelling and enjoying times with our family, close friends  or simply exploring the shorelines on our adventures.

Our investment Firm's head office hours are listed below, in case of a desperate financial requirement for mutual fund business they are our backup team and available to take care of paperwork in our absence.

 Please contact me first and we will connect with our administrative folks in Kingston if such a situation arises.

Wishing everyone a Merry Christmas and Happy Prosperous Peaceful New Year !

Timothy Ross, CEO & Founder

Brock Shores Financial

#ImprovingFutures

Christmas Hours Dealership Professional Investments 2017

Hello Everyone,  Kingston Office Hours

We will be open all of the business days this year during the Christmas holidays.

December 22^nd – we will look to close a little early. Nothing set in stone, but most likely closing around 2pm.

December 27, 28 – Open regular business hours

December 29^th - we will look to close a little early. Nothing set in stone, but most likely closing around 2pm.

January 2^nd – Open regular business hours.

 Thank you,

 Mark Tavares, Compliance Officer

Professional Investments (Kingston) Inc.

Toll Free: 1-888-548-8868  Fax: 613.384.8919

Cool Words - Harbinger

Definition

1 : one that initiates a major change : a person or thing that originates or helps open up a new activity, method, or technology : pioneer

2 : something that foreshadows a future event : something that gives an anticipatory sign of what is to come

Did You Know?

When medieval travelers needed lodging for the night, they went looking for a harbinger. As long ago as the 12th century, harbinger was used to mean "one who provides lodging" or "a host," but that meaning is now obsolete. Later on, harbinger was also being used for a person sent ahead of a main party to seek lodgings, often for royalty or a campaigning army, but that old sense has largely been left in the past, too. Those sent ahead would announce the approach of who was following behind, and that's how our modern sense of harbinger (from the Anglo-French herberge, meaning "lodgings") acquired the sense with which we are familiar today, that of something which foretells a future event.

In many ways, "Life's Major Goals" is speaking to future events in your life, the harbinger of the reason we do what we do with our process and vision of providing Omega Stewardship through our Family Office, here at Brock Shores Financial ~ TLR

We help families plan and implement strategies to accomplish "Life's Major Goals"

• Tax Smart Planning & Investing
• Worry Free Retirement
• Education of Our Children & Grandchildren
• Quality Care For Our Parents
• Meaningful Financial Help For Our Loved Ones
• Meaningful Legacy

I came across this cool video with Morgan Freeman in it, enjoy, looks like he is on adventures that can only e achieved in a Worry Free Retirement 

https://www.youtube.com/watch?v=p_gv6fRejLM&index=32&list=PLhhVyaUmOQupOP7yTxqUkV1H662iKKjH0

Good question, good answers

A message we all should consider, quite frankly, by the grace of God goes I. Now there has been times that we have had to help people walk through these waters. This can be a very scary, frightening time, and yet, a liberating time in ones life when it is all taken away. When we use that word "All" we are often speaking about the money, the assets, and we miss the point that all is not everything, there is something's that can not betaken away from you. Will make a list of those none all things some day, and I encourage readers to add to the list, I look forward to reading what those treasures that can not be taken away from you would be.  ~ TLR

https://www.desiringgod.org/articles/what-if-god-takes-it-all-away

What If God Takes It All Away?

Trusting Him Through Financial Struggles

https://en.wikipedia.org/wiki/Ning_(website)

Ning is an online platform for people and organizations to create custom social networks,^[5][6][7] launched in October 2005.^[4] Ning offers customers the ability to create a community website with a customized appearance; Besides basic functionality, like photos, videos, forums and blogs, it has extra features: Events, Audio, Polls, Broadcast messages, Paid Access, etc; plus integration with Facebook, Twitter, Google and Yahoo!.^[6][8]

Ning was co-founded by Marc Andreessen and Gina Bianchini. By June 2011 there were over 90,000 social websites running on the Ning Platform.^[9][10]

Quality Care for Our Loved Ones, one of Life's Major Goals

I came across this article today and thought it would be of interest. A number of years ago, I help create a documentary called "Puzzled By Home Care" we tried to address this problem. Unfortunately we never brought it to market. I suspect a lot of the information will still be relevant. If I can find it, I will share.  ~ TLR

The Caregivers’ Club

http://www.cbc.ca/cbcdocspov/blog/my-mom-spent-a-long-thankless-decade-as-my-dads-caregiver

"Like so many caregivers, my mom was burned out, not only from the daily stresses of being a nurse, driver, cook, coordinator and maid but from trying to navigate a healthcare system that isn’t prepared for so many dementia patients and unable to provide for the needs of the caregiver. Sure, she was stubborn at times and probably could have asked for more help, but my dad was less easily agitated when she was with him, which is so often the case with dementia patients. My mom was his everything."

"I started the documentary The Caregivers’ Club because I was angry at the healthcare system and wanted to expose its deficiencies. As I followed three courageous at-home caregivers, I discovered that they are the true heroes, the foundation of our healthcare system, providing good care and dignity for people with dementia."

Airing Sunday, January 14, 2018 at 9 PM on CBC-TV

http://www.cbc.ca/cbcdocspov/episodes/the-caregivers-club

The Caregivers’ Club is a compelling and cautionary tale, one that’s only just beginning for an entire generation.
 

Through Back Thursday - Circa 2007

Going through my archives I came across some great memories. Some building blocks of Timothy Ross & Associates.  This is one of the foundation documents that I produced in March 2007 where I summarized the concept of the process that I was building call Omega Stewardship.

This document is in it's raw form, the inside view, the bricks that built the business.  ~ TLR

Omega Stewardship ® "Providing the Multi - Family Office Solution"

The Reason

1. Compliance & Disclosure

2. Maintain & Enhance Existing Client Relationships

3. Convert Prospects to Clients

Who, What, When, Why, Where

Omega Stewardship is a brand developed by Timothy L. Ross, a Financial & Tax

Advisor, who has been practicing and serving clients since 1988. Mr. Ross,

created his own designation, Family Advisor, to distinguish himself in a

crowded financial services market.

He has developed several brands, and slogans to enhance and differentiate

his business from others in the industry.

"Where Client Goals Become Our Goals"

"Merchant of Hope & Prosperity"

"Family Advisor"

"Steward of Faith, Hope & Prosperity"

"Helping Families Acheive ... Life's Major Goals"

"Gaurdians of Your Families Wealth"

"Omega Stewardship"

Tim's creative and imaginative mind has been able to take some of the best

of the best ideas and integrate them into a practice standard that allows a

very comprehensive and holistic approach to financial planning. His process

is geared around complete personalization of all key communications with

clients.

Mr. Ross and others in the industry believe that this system will be a boom

for any advisor that has a desire to streamline their client management and

acquisition process. The tools combined with professional competancy will

ensure a successful, profitable, meaningful , well run practice.

Compliance Dream

The system integrates all compliance matters to help reduce litigation and

misunderstanding between advisor and client. The full disclosure engagement

letters, risk profile, numerous disclosure documents required today,

investment policy statements and ongoing educational matters helps to

control and reduce risk. The practice standards that drive the client

contact process ensure proper notes, documents, meeting guides and activity

reports that allow an advisor to maintain an active log of all

communications.

Your compliance officer will sleep well knowing you are providing Omega

Stewardship.

Maintain & Enhance Existing Client Relationships

Omega Stewardship helps to consolidate all parts of a clients financial

plan, current and future. Integrating these matters in a tangible way,

involving the client and advisor in what we call a work in process, the

process is never finished, as life is always evolving and so the financial

plan must as well. Clients become advocates of Omega Stewardship and the

advisor providing this level of quality care and service. The system will

uncover hidden opportunities and the client will see were they need help as

well, it is a work in progress. You will have deeper more satisfying

relationships and you will make a real true impact and difference in your

clients and their families life. You automatically become more referral and

they will become advocates for Omega Stewardship and you as the advisor.

Converting Prospects to Clients

"We have a process, and it makes all the difference" When a prospect sits

down with you and they see you have prepared for the meeting, they know they

are working with a professional who knows her business. When they see what

you have already prepared for them, even before you have done business, they

will know you are serious and they will want to work with you. No one else

will be able to provide what you just offered, it is tangible, they can see

it, touch it, with coaching they will feel it. That will give you an edge

and help convert all the business to your management. It will simply be hard

for them not to give you their business.

We practice Continuous Improvement.  Creating efficiencies, documenting processes, procedures and this helps to reduce potential confusion that can occur in a busy family office practice.  This helps to raise the bar for the client experience.

--

Timothy Ross

Family Advisor ® , since 1988

Branch Manager Professional Investments

"Steward Of Faith, Hope & Prosperity" ®

"Where Client Goals Become Our Goals" ®

www.timothyross.com www.youradvisorcares.com

"Helping Families Achieve ... Life's Major Goals" ®

"Life's Major Goals"

1. Tax Smart Planning & Investing

2. Worry Free Retirement

3. Education of Our Children & Grandchildren

4. Quality Care for Our Parents

5. Meaningful Financial Help for Our Loved Ones

6. Meaningful Legacy

Sincerely,

Timothy L. Ross,

Family Advisor ®, since 1988

"Where Client Goals Become Our Goals" ®

"Helping Families Achieve... Life's Major Goals" ®

 OMEGA STEWARDSHIP  ®

Guardians Of Your Family's Wealth"

As I woke this morning I was filled with gratitude.  I was present to all the ways both big and small that my life has been blessed. As I watched the sun come up from living room window I gave thanks for all the people who have touched my life.  So in the spirit of gratitude on the beautiful thanks giving day, I wanted to say thank you Timothy, for blessing my life.

Here is a link to her gift, a great assessment tool to help you be a more dynamic productive leader, check it out

If you ever decided to start a business, be it a network marketing business or a more traditional business, touch base with us here at Brock Shores Financial, we love the creation of a business and the entrepreneur spirit that you need to have. Setting up properly gives your business a great chance to thrive and capture all the tax advantages that a small business offers.

http://suzanhart.com/wp-content/uploads/Hartzone-Leadership-Assessment.pdf

What is on a Leadership Scale ?

Commitment

Urgency

Initiative

Passion

Responsibility

Visionary

Solution Focused

Courage

Guiding Principles

Objectives

Integrity

Persistence

Contribution

Influence

Power

Attitude of Gratitude

Learner

Self Mastery

Communication

Conflict

These are some of the heavy weight items on the scale, download Suzan's tool and see where you are at. Then you can make better decisions moving forward. be sure and make any comments below that you would like to add, this is a community that we wish to inspire and build people up, so your future is improved. It's not all about the money, as Jim Rohn would say, money is just easy to count if your keeping score, it's not the only value, some things are priceless, yet hard to count.~ TLR

Jim Rohn Bibilical Leadership Lessons : Motivation Infusion #1  

https://www.youtube.com/watch?v=C25P6EMIs5g&list=PLhhVyaUmOQupT95UiO_74c0-wATcRxceV&index=1