Burnaby Financial Planning, Insurance & Investment Expert - Christine Conway, CFP, CHS

http://theexperts.ca/blog/2016/07/10/burnaby-financial-planning-insurance-investment-expert-christine-conway-cfp-chs-2/

If you've picked up the paper lately, you've most likely seen the headline about changes coming to the Canada Pension Plan (CPP) in 2019.  The Finance Minister Bill Morneau and the Provinces, with the exception of Quebec and Manitoba, have endorsed a deal that will increase both the premiums and the payout during retirement. CPP benefits are based on contribution – both yours and your employer, up to a maximum.  The National Post reports that maximum pensionable earnings will increase from $54,900 to $82,700 once the program is fully phased in. This means you will be paying more into the program, up to that cap, lowering the amount left on your paycheque to take home.

The CPP is essentially a forced savings program which mandates that employees and employers alike pitch in.

However, this decision is not without controversy. Organizations such as the CFIB (Canadian Federation of Independent Business) say that this higher cost to businesses may mean that they will hire less staff, offer lower starting wages, or delay wage increases to compensate.

Are you relying on programs like CPP to fund your retirement?  While they are a component of Canadian's income during retirement, they can change. Take matters into your own hands and make sure that you are preparing for your own retirement.

Give us a call at 604-521-3778 or send us an email at advisors@braunfinancial.com.

We're always happy to help.

www.braunfinancial.com

Burnaby Flooring Expert - Scott MacDougall

http://theexperts.ca/blog/2016/07/10/burnaby-flooring-expert-scott-macdougall-ask-flooring-expert-scott-macdougall-5/

What are the primary differences between a cheaper floor and a more expensive floor? We get asked this question all the time and the answer is actually quite simple. Like everything else, you get what you pay for. You spend your life savings on a house, when you go to change your floors, they should last as long as 20 years, but will only do so if you buy a quality product.

The primary differences are :

1. Surface Wear Layer – the higher the quality product the higher the quality of the surface layer. This means less scratch­ing and denting than other lower quality urethane coatings. Also, the particle size of the aluminum oxide is a factor; cheaper ure­thanes use larger particles which increases the cloudiness of this layer. Greater cloudi­ness lessens the clarity of the image layer just below.

2. Locking Systems are better on higher quality products. Period. There isn't a cheap locking system on the market that goes together flawlessly. The stronger the locking system the less likely the planks will separate due to foot traffic and heavy objects being placed on top.

3. Image Layer (for everything other than hardwood) – higher quality products use high resolution images to project the pattern and sometimes texture. Clarity, sharpness and realism are all enhanced with higher quality products.

4. Inner Core Stability (on products other than hardwood) - The denser the in­ner core, the more stable and harder the product will wear. There are a variety of dif­ferent materials used to make the core board of laminate floors but they all basically break down into two categories; particle board vs. high density fiberboard (HDF). HDF is dens­er than particle board. The denser the board the less movement you will see in the floor from expansion and contraction. Excessive movement in the floor leads to both buckling and/or plank separation issues.

Before you decide to try to save money on your floors, think about how you want your floors to perform. How long do you want them to last, what type of lifestyle do you have. Pets, kids and activity level should all be taken into consideration. The less expen­sive your floors, they less they will perform for you, and the faster you will be replacing them. It's better to spend a little bit more initially to get a product that will perform for you, than to replace floors only a couple years after purchasing them.

Give us a call at 604-942-4109 or come in and talk to one of our Experts^® today!

Burnaby Acupuncture Expert - Doreen Hill

http://theexperts.ca/blog/2016/07/10/burnaby-acupuncture-expert-doreen-hill-2/

I have Carpal Tunnel Syndrome, can acupuncture help?

A.Yes, very likely.

Carpal tunnel syndrome is one of the most common job-related injuries and it is responsible for the highest number of sick days.  It's also the most frequent surgery for the hand and wrist.

Carpal tunnel pain is intense and burning.  There is tingling or numbness in the palm of the hand and in the fingers.  Also, weakness and numbness in the hand and wrists as well as a reduced grip are apparent.

Acupuncture is extremely effective in treating carpal tunnel.  It eliminates the need for surgery and for the use of anti-inflammatory drugs.  You many require anywhere from 3 to 10 treatments, depending on your specific case.

In addition to reducing the pain, swelling and inflammation in the wrist, acupuncture addresses headaches, neck and shoulder pain and stiffness that accompany this condition.

If you or someone you know suffers from carpal tunnel syndrome, please call to determine if acupuncture is right for you.

Acupuncture is covered by extended health care plans.

Receive 25% off your appointment. Call today!

Acupuncture is covered by Extended Health Care Plans. 778-231-2565 www.doreenhill.com

Burnaby Exceptional Flooring Expert - Garry Lozon

http://theexperts.ca/blog/2016/07/10/burnaby-exceptional-flooring-expert-garry-lozon/

In keeping with trying to be better for the environment the carpet industry has been busy with new fibers. Many manufactures are using recycled plastic bottles to make carpet fibre for your new carpet. Because it is using up old bottles and not a byproduct of oil the raw material it is less costly. Since the raw material is less costly, the end product will cost less or give you a lot heavier carpet for the same money as the traditional fibre carpet. There are a couple of other benefits to these new fibers. They are BCF which means continuos filament. In other words they do not shed so it is good for people with allergies.

Another great fact is they feel very soft a little like wool.The fibre is also more stain resistant because it does not absorb things like some other fabrics. I have many to choose from because most manufactures are making them in all styles from Berbers to cut pile and pattern cut and loop patterns.

Be sure to check out the featured specials on our website and our facebook page!

Why shop with COTTAGE CARPETS

• Ensure you are making the best colour choice by viewing, touching and feeling the flooring samples

• Consult with a leading carpet and flooring specialist about which colour, shade, pattern and quality best matches your home or office

• Rely on honest and seasoned professional advice for choosing the correct products

• A great selection of products and brands for your upcoming flooring project

• Enjoy reasonable prices

• Have your carpet or hardwood floor installed by trained professionals you can really trust

• Watch our website and Facebook page for monthly deals!

604.244.0780, Showroom: 2660 No. 5 Road, Richmond, BC, www.cottagecarpets.ca.

Burnaby Real Estate Expert – Francesco De Frenza

http://theexperts.ca/blog/2016/07/10/burnaby-real-estate-expert-francesco-de-frenza-2/

Demand remains elevated across the Metro Vancouver housing market

Residential property sales on the region's Multiple Listing Service® (MLS®) totalled 4,769 in May 2016, an increase of 17.6 per cent from the 4,056 sales recorded in May 2015 and a decrease of 0.3 per cent compared to April 2016 when 4,781 homes sold.

Last month's sales were 35.3 per cent above the 10-year sales average for the month and rank as the highest sales total on record for May.

“Home sellers are becoming more active in recent months, although that activity is being outpaced by home buyer demand today,” Dan Morrison, REBGV president said.

New listings for detached, attached and apartment properties in Metro Vancouver totalled 6,289 in May 2016. This represents an increase of 11.5 per cent compared to the 5,641 units listed in May 2015 and a 2.6 per cent increase compared to April 2016 when 6,127 properties were listed.

The total number of properties currently listed for sale on the MLS® system in Metro Vancouver is 7,726, a 37.3 per cent decline compared to May 2015 (12,336) and a 2.3 per cent increase compared to April 2016 (7,550).

“Economic and job growth in Metro Vancouver is out performing most regions in the country. This is helping to underpin today's activity,” Morrison said.

The sales-to-active listings ratio for May 2016 is 61.7 per cent. This is indicative of a seller's market.

Generally, analysts say that downward pressure on home prices occurs when the ratio dips below the 12 per cent mark, while home prices often experience upward pressure when it reaches the 20 to 22 per cent range in a particular community for a sustained period of time.

The MLS® Home Price Index composite benchmark price for all residential properties in Metro Vancouver is currently $889,100. This represents a 29.7 per cent increase compared to May 2015.

Sales of detached properties in May 2016 reached 1,865, an increase of 8.2 per cent from the 1,723 detached sales recorded in May 2015. The benchmark price for detached properties increased 36.9 per cent from May 2015 to $1,513,800.

Sales of apartment properties reached 2,150 in May 2016, an increase of 34.4 per cent compared to the 1,600 sales in May 2015. The benchmark price of an apartment property increased 22.3 per cent from May 2015 to $485,000.

Attached property sales in May 2016 totalled 754, an increase of 2.9 per cent compared to the 733 sales in May 2015. The benchmark price of an attached unit increased 24.9 per cent from May 2015 to $632,400.

604.618.4650, www.defrenzahomes.com.

Burnaby Debt Management Expert – Ken Rowan

http://theexperts.ca/blog/2016/07/10/burnaby-debt-management-expert-ken-rowan-2/



What should I do?

This is the third part of our series on the analysis of options to deal with debt.  Further articles will change one or two variables to see how reasonable options differ depending on circumstance.  If you wish your situation analyzed, send us your fact pattern.

The situation:

Personal

Jack is 38, married with no children, and nets BC's average wage of $3,095 monthly. His spouse brings home $2,200 monthly. (This is new from our last column).

Debts

Jack owes $31,000 on credit cards, $40,000 for income taxes, $4,000 to a bank, and $2,000 for MSP. In total, $77,000.

Assets

Other than a financed auto, Jack has nominal assets.

Cash Flow

Jack's car costs him $850 monthly for payments, insurance, gas, etc. After rent of $1,100 the household has $3,345 for food, debt payments and everything else.

Jack does not want his spouse to be liable for his debts, and none of his debts are joint. He thinks he could pay about $700 monthly towards debt.

The options:

Hang in there

The debt to CRA is Jack's greatest concern because CRA has enhanced collection powers.  After it has assessed Jack, if a suitable payment plan is not established then CRA can seize bank accounts and “garnishee” wages.

Unless Jack's spouse is willing to help pay Jack debts it will be difficult for Jack to deal with his debts on his own.

Seek a consolidation loan

A consolidation loan will be near impossible without collateral.  The CRA debt will scare off most potential lenders.

Consumer proposal to creditors

The CP is an option available to individuals who are unable to repay debts totaling less than $250,000.  It is okay if there is an additional debt for a mortgage on a principal residence.

A reasonable consumer proposal would require Jack to pay $425 monthly for 5 years, or $25,500.  This would include his entire debt to CRA. At this reasonable cost, Jack could afford to keep his car or he can let it go and get a jump on building real wealth. All collection activity must stop.  Jack could apply for and receive a new credit card.

What is particularly interesting about this consumer proposal option is that although in our fact pattern we have added a working spouse, Jacks' realistic consumer proposal option has not changed.

Bankruptcy

Bankruptcy remains a realistic option for Jack.  However, with the addition of a working spouse, his required monthly payments in a bankruptcy proceeding actually increase from $503 to $787 monthly.  Payment of surplus income is expected for 21 months for a first-time bankrupt.

Next Issue

We will see what happens if Jack has really, really big tax debts.

Let your debts go

If you have too much debt I can get you headed in the right direction.  Contact me at

ken@debtsgo.com. You're only a click away from financial security and freedom from debt.

604-531-4186, www.debtsgo.com

Burnaby Printing Expert - Carol Wierzbicki

http://theexperts.ca/blog/2016/07/10/burnaby-printing-expert-carol-wierzbicki-2/

ALL of your printing needs in one place.

From business cards to newsletters to annual reports, flyers, brochures, envelopes, rack cards, postcards...and more!

Our high-speed digital colour printer produces single or multi-page documents from all major software programs. Each page is a first generation original. Ideal for fast turnaround business cards, flyers, manuals, programs, reports, proposals...

Ask about our Engraving services:

Name Badges, Architectural Signage etc.With both Laser and Rotary capabilities, we canproduce beautful plaques and laser etching on Glass and Acrylic Awards. Our full colour imprinter allows us to put full colour on most surfaces.

Ask for a quote today!

Ask for a quote today!

Call us today! 604-521-1295, www.canengrave.com