Balance Financial - Shawna McCrea

Get Your Money Moving - Monday Money with Shawna McCrea of Balance Financial MY CHALLENGE to you this week is to look for opportunities to improve your cash flow. Wishing you Financial Health | Know your numbers As you know I love helping people cut through the industry noise that can fuel our fears, and create a financial plan based on your specific life goals. First phone consultation is COMPLIMENTARY This video is only general explanations and education. It's not specific tax, legal or investment advice. Before considering acting on anything you see or hear here, first consult with your tax, legal or investment advisor. #InspiringFinancialHealth #FinancialPlanning #CashWealthRiskLegacy

Stop Stressing Over Your Money - Monday Money with Shawna McCrea of Balance Financial MY CHALLENGE to you this week is to start, review or revamp your budget. Wishing you Financial Health | Know your numbers As you know I love helping people cut through the industry noise that can fuel our fears, and create a financial plan based on your specific life goals. First phone consultation is COMPLIMENTARY This video is only general explanations and education. It's not specific tax, legal or investment advice. Before considering acting on anything you see or hear here, first consult with your tax, legal or investment advisor. #InspiringFinancialHealth #FinancialPlanning #CashWealthRiskLegacy

Wishing you Financial Health | Know your numbers As you know I love helping people cut through the industry noise that can fuel our fears, and create a financial plan based on your specific life goals. First phone consultation is COMPLIMENTARY This video is only general explanations and education. It's not specific tax, legal or investment advice. Before considering acting on anything you see or hear here, first consult with your tax, legal or investment advisor. #InspiringFinancialHealth #FinancialPlanning #CashWealthRiskLegacy

Wishing you Financial Health | Know your numbers As you know I love helping people cut through the industry noise that can fuel our fears, and create a financial plan based on your specific life goals. First phone consultation is COMPLIMENTARY This video is only general explanations and education. It's not specific tax, legal or investment advice. Before considering acting on anything you see or hear here, first consult with your tax, legal or investment advisor. #InspiringFinancialHealth #FinancialPlanning #CashWealthRiskLegacy

“Jessica gets a divorce” - Monday Money Stories with Shawna McCrea of Balance Financial Divorce can be emotional and challenging. It can be a financial wreck that leads to a large drop in your standard of living. You need to separate your emotions from your finances. Get support. Get paperwork organized. Educate yourself. Contentious or Amicable What stage Talk about joint assets, income and liabilities and freezing joint accounts Court decides, not spouse Children and support Counselling MY CHALLENGE to you is to consider the possibility of a divorce Wishing you Financial Health | Know your numbers As you know I love helping people cut through the industry noise that can fuel our fears, and create a financial plan based on your specific life goals. First phone consultation is COMPLIMENTARY This video is only general explanations and education. It's not specific tax, legal or investment advice. Before considering acting on anything you see or hear here, first consult with your tax, legal or investment advisor. #InspiringFinancialHealth #FinancialPlanning #CashWealthRiskLegacy

“Child-rearing provisions” - Money Monday with Shawna McCrea of Balance Financial If you took time off from work or worked less to look after your young children (up to age 7), you may be able to increase the amount of your CPP retirement pension and other CPP benefits with the child-rearing provisions. No one does this for you, you have to remember to do this on your own. If you are already collecting CPP you can still apply. MY CHALLENGE to you is to review your retirement plan to make sure you are on track. Wishing you Financial Health | Know your numbers As you know I love helping people cut through the industry noise that can fuel our fears, and create a financial plan based on your specific life goals. First phone consultation is COMPLIMENTARY #InspiringFinancialHealth #FinancialPlanning #CashWealthRiskLegacy

“Tax-Free First Home Savings Account ("FHSA")” - Money Monday with Shawna McCrea of Balance Financial The FHSA is a proposed registered savings account that will allow individuals to make deductible contributions of up to $8,000 annually to a maximum of $40,000 for the purpose of purchasing their first home. Intended to help individuals save for their first home. Available starting in 2023. Contributions to the FHSA would be deductible from income and can come from existing RSPs Qualifying withdrawals for a first home purchase would not be taxable. - Income earned in the account would not be taxable. Tax Free Going In Tax Free Coming Out If you don't buy a home within 15 years, you've got to close the account And then, you can transfer what's left into an RRSP or Registered Retirement Income Fund (RRIF), or pay taxes on it MY CHALLENGE to you is to let people know about the FHSA Wishing you Financial Health | Know your numbers Having my own practice I get to put clients before shareholders First phone consultation is COMPLIMENTARY #InspiringFinancialHealth #FinancialPlanning #CashWealthRiskLegacy

“$1200 RESP BC Grant” - Money Monday with Shawna McCrea of Balance Financial Do you have a child or know someone that has a child between the age of 6 and 9? Families in British Columbia are encouraged to start planning and saving early for their children's post-secondary education or training programs. To help, the B.C. Government will contribute $1,200 to eligible children through the B.C. Training and Education Savings Grant (BCTESG). As you know I am a big fan of RESPs. I have talked to too many people that struggle with paying back their student loans - they often carry them for years. If your child doesn't go to school that's okay you can always get the principle back and you can transfer the market gains to your RSP. I am also an advocate to borrow only for a home and nothing else. MY CHALLENGE to you is to let people know of this $1200 RESP BC Grant Wishing you Financial Health | Know your numbers First phone consultation is COMPLIMENTARY #InspiringFinancialHealth #FinancialPlanning #CashWealthRiskLegacy

“What Should I do?” - Money Monday with Shawna McCrea of Balance Financial In my consulting practice I often get asked what should I do? Should I sell my house and get a bigger one? Should I change jobs? Should I move? Only you can determine what your goals are - remove the should. MY CHALLENGE to you is to reflect on your goals. What do you want? What do you want it to look like? Wishing you Financial Health | Know your numbers First phone consultation is COMPLIMENTARY #InspiringFinancialHealth #FinancialPlanning #CashWealthRiskLegacy

“The Cost of Procrastination” - Money Monday with Shawna McCrea of Balance Financial Procrastination is something many of us wrestle with in many areas of our life especially our finances. It is so much easier to put it off until tomorrow. MY CHALLENGE to you is to stop procrastinating and encourage kids if you have them to start now. https://balancefinancial.net/2022/01/the-cost-of-procrastination/ Wishing you Financial Health | Know your numbers First phone consultation is COMPLIMENTARY #InspiringFinancialHealth #FinancialPlanning #CashWealthRiskLegacy

“Divorce and your money” - Money Monday with Shawna McCrea of Balance Financial I deal with so many people that are going through a separation or divorce, especially lately. I know it is such a tough and challenging time when it comes to your money. Who gets what? can I stay in the house? how do I protect myself? It will make a real difference if your separation is going to amicable or contentious. Emotions can play a big role in the negotiation process. You may want to freeze your joint assets and liabilities if you are afraid that your partner would fully draw them down. I see some couples choose to stay together in the same house because they can't afford two separate homes. The court not the spouse decides on division. Should you consider counselling to help you? MY CHALLENGE to you if you are going through a separation is to make sure you have access to some funds to get you through either a pay cheque &/or savings. Wishing you Financial Health | Know your numbers First phone consultation is COMPLIMENTARY #InspiringFinancialHealth #FinancialPlanning #CashWealthRiskLegacy

“What are the Types Investments?"- Money Monday with Shawna McCrea of Balance Financial Types of Investments GICS - is a certificate of deposit at a bank or other financial institution for a fixed term Bonds - When you buy a bond, you are making a loan to a government or a company. Shares - There are different types of shares available to investors interested in taking an ownership interest in a company. Mutual Funds - Mutual funds allow you to diversify your portfolio by investing in a number of different investments. Exchange-Traded Funds - are pools of investments that trade on a stock exchange. High-Risk Investments - Crowdfunding, crypto, foreign exchange, hedge funds, inverse & leverage ETFs, Private Company Investments, Promissory Note, Real Estate-based securities Scholarship Plans - an investment fund that pools your money with that of other families with children of the same age. Segregated Funds - are pools of investments, similar to mutual funds, but sold as an insurance policy. They offer full or partial principal guarantees if held until they mature or until the fund holder passes away. They bypass probate so they can be useful in estate planning. Segregated funds also offer protection from creditors. My Challenge to you review the types of investments you hold I love helping people cut through the industry noise that can fuel our fears, and create a financial plan based on your specific life goals. First phone consultation is COMPLIMENTARY #InspiringFinancialHealth #FinancialPlanning #CashWealthRiskLegacy

“What is an Investment Account?"- Money Monday with Shawna McCrea of Balance Financial Non-Registered - You must declare investment income (or losses) and interest on your taxes in non-registered accounts even if you don't withdraw the money.Types of Investment AccountsRRSPS - RRSP accounts help you to save for your retirement years.TFSAs - A Tax-Free Savings Account allows you to save without paying income on your investment earnings.RRIFS - RRIFs allow you to generate income during retirement.RESPS - RESPs can help you pay for a child's post-secondary education.RDSPs - helps create long-term savings for people eligible for the Disability Tax Credit. As always I wish you financial health. I love helping people cut through the industry noise that can fuel our fears, and create a financial plan based on your specific life goals. First phone consultation is COMPLIMENTARY #InspiringFinancialHealth #FinancialPlanning #CashWealthRiskLegacy

“What financial lessons—good or bad—did you learn from your parents?"- Money Monday with Shawna McCrea of Balance Financial Why do you manage your money the way that you do? I talk to so many people that are stressed and lost when it comes to money, because of this I find some people choose to ignore how they manage their money. I help people that are stuck. I know it is so painful when you are worried all the time about your financial future and achieving your goals. Studies have shown that we predominately follow the financial paths of our parents, as they followed their parents. I challenge you to take control of your money and change the path that your children will follow. As always I wish you financial health. I love helping people cut through the industry noise that can fuel our fears, and create a financial plan based on your specific life goals. First phone consultation is COMPLIMENTARY #InspiringFinancialHealth #FinancialPlanning #CashWealthRiskLegacy

“Black, Blue, White Or Gold?"- Money Monday with Shawna McCrea of Balance Financial Investing in things we know little or nothing about can set us up for a financial round of frustration and disappointment. https://balancefinancial.net/2022/01/black-blue-white-or-gold/ I love helping people cut through the industry noise that can fuel our fears, and create a financial plan based on your specific life goals. First phone consultation is COMPLIMENTARY #InspiringFinancialHealth #FinancialPlanning #CashWealthRiskLegacy

“Avoiding The Losses Can Prove More Valuable Than Picking The Winners"- Money Monday with Shawna McCrea of Balance Financial There are two ways to fill up a bucket with holes. https://balancefinancial.net/2022/01/avoiding-the-losses-can-prove-more-valuable-than-picking-the-winners/ I love helping people cut through the industry noise that can fuel our fears, and create a financial plan based on your specific life goals. https://balancefinancial.net #InspiringFinancialHealth #FinancialPlanning #CashWealthRiskLegacy

“RSPs: The Hidden Truth"- Money Monday with Shawna McCrea of Balance Financial What do RSPs do exactly? https://balancefinancial.net/2022/01/rsps-the-hidden-truth/ Helping YOU Navigate a Financially Successful Life

"What don't you like about your current financial position?"- Money Monday with Shawna McCrea of Balance Financial Helping YOU Navigate a Financially Successful Life First phone consultation is COMPLIMENTARY https://balancefinancial.net #InspiringFinancialHealth #FinancialPlanning #CashWealthRiskLegacy

“The Best gift you can give your kids" - Money Monday with Shawna McCrea of Balance Financial Here are a couple of websites to help you with Budgeting: Budget Planner: https://itools-ioutils.fcac-acfc.gc.ca/BP-PB/budget-planner Income, Expenses & Budget: https://www.canada.ca/en/financial-consumer-agency/services/financial-toolkit/income-expenses-budget.html Helping YOU Navigate a Financially Successful Life First phone consultation is COMPLIMENTARY https://balancefinancial.net #InspiringFinancialHealth #FinancialPlanning #CashWealthRiskLegacy

“What I have learned about RSPs" - Money Monday with Shawna McCrea of Balance Financial An RRSP is a retirement savings plan that you establish, that we register, and to which you or your spouse or common-law partner contribute. Deductible RRSP contributions can be used to reduce your tax. Any income you earn in the RRSP is usually exempt from tax as long as the funds remain in the plan; you generally have to pay tax when you receive payments from the plan. (canada.ca) Helping YOU Navigate a Financially Successful Life First phone consultation is COMPLIMENTARY https://balancefinancial.net #InspiringFinancialHealth #FinancialPlanning #CashWealthRiskLegacy

“What do you like most about what you are doing?" - Money Monday with Shawna McCrea - Balance Financial Year end is a great time to do an annual review of your financial plan. What do you like, what don't you like and what needs to be adjusted? Helping YOU Navigate a Financially Successful Life First phone consultation is COMPLIMENTARY https://balancefinancial.net #InspiringFinancialHealth #FinancialPlanning #CashWealthRiskLegacy

“$1200 BC RESP Grant" - Money Monday with Shawna McCrea - Balance Financial Between a child's 6th birthday and their 9th https://www2.gov.bc.ca/gov/content/education-training/k-12/support/scholarships/bc-training-and-education-savings-grant Helping YOU Navigate a Financially Successful Life First phone consultation is COMPLIMENTARY https://balancefinancial.net #InspiringFinancialHealth #FinancialPlanning #CashWealthRiskLegacy

“Retirement can last 25-30 years" - Money Monday with Shawna McCrea - Balance Financial So many of us just focus on today and don't want to plan for the future. Imagine your life at 80 what do you want it to look like? Even starting to save small amounts will help your future lifestyle. Helping YOU Navigate a Financially Successful Life First phone consultation is COMPLIMENTARY https://balancefinancial.net #InspiringFinancialHealth #FinancialPlanning #CashWealthRiskLegacy

“Do you watch your TFSA & RSP room #s?" - Money Monday with Shawna McCrea - Balance Financial When discussing contribution room for TFSAs and RSPs people can find this confusing. Can be a costly mistake if you over contribute or you can be missing out on tax savings. CRA MyAccount have all those numbers available for us to look at. https://www.canada.ca/en/revenue-agency/services/e-services/e-services-individuals/account-individuals.html Helping YOU Navigate a Financially Successful Life First phone consultation is COMPLIMENTARY https://balancefinancial.net #InspiringFinancialHealth #FinancialPlanning #CashWealthRiskLegacy

“Wealth Umbrellas - types of accounts vs types of investments" - Money Monday with Shawna McCrea - Balance Financial We are all bombarded by sensationalized headlines regarding the market that instil fear or greed. These potential emotional tiggers do little to help us make better decisions and instead encourage emotional speculating. It's important to invest according to sound principles and reasoning and look past the noise from the media. Helping YOU Navigate a Financially Successful Life First phone consultation is COMPLIMENTARY https://balancefinancial.net #InspiringFinancialHealth #FinancialPlanning #CashWealthRiskLegacy

“Are you influenced by emotional speculations?" - Money Monday with Shawna McCrea - Balance Financial We are all bombarded by sensationalized headlines regarding the market that instil fear or greed. These potential emotional tiggers do little to help us make better decisions and instead encourage emotional speculating. It's important to invest according to sound principles and reasoning and look past the noise from the media. Helping YOU Navigate a Financially Successful Life First phone consultation is COMPLIMENTARY https://balancefinancial.net #InspiringFinancialHealth #FinancialPlanning #CashWealthRiskLegacy

“What are you currently doing in preparation for your financial future?" - Money Monday with Shawna McCrea - Balance Financial Helping YOU Navigate a Financially Successful Life First phone consultation is COMPLIMENTARY https://balancefinancial.net #InspiringFinancialHealth #FinancialPlanning #CashWealthRiskLegacy

“Paying down debt is a savings strategy" - Money Monday with Shawna McCrea - Balance FinancialHelping YOU Navigate a Financially Successful Life First phone consultation is COMPLIMENTARY https://balancefinancial.net #InspiringFinancialHealth #FinancialPlanning #CashWealthRiskLegacy

“If you had a magic wand what would you change about your financial health?" - Money Monday with Shawna McCrea - Balance Financial Helping YOU Navigate a Financially Successful Life First initial consultation is COMPLIMENTARY https://balancefinancial.net #InspiringFinancialHealth #FinancialPlanning #CashWealthRiskLegacy

“Teaching kids about money" - Money Monday with Shawna McCrea of Balance Financial Helping YOU Navigate a Financially Successful Life First initial consultation is COMPLIMENTARY https://balancefinancial.net #InspiringFinancialHealth #FinancialPlanning #CashWealthRiskLegacy

“What does your future life look like?" - Money Monday with Shawna McCrea of Balance Financial Helping YOU Navigate a Financially Successful Life First initial consultation is COMPLIMENTARY https://balancefinancial.net #InspiringFinancialHealth #FinancialPlanning #CashWealthRiskLegacy

“Balancing Current Lifestyle and Future Lifestyle" - Money Monday with Shawna McCrea of Balance Financial Helping YOU Navigate a Financially Successful Life First initial consultation is COMPLIMENTARY https://balancefinancial.net #InspiringFinancialHealth #FinancialPlanning #CashWealthRiskLegacy

“Flexibility " - Money Monday with Shawna McCrea of Balance Financial Helping YOU Navigate a Financially Successful Life First initial consultation is COMPLIMENTARY https://balancefinancial.net #InspiringFinancialHealth #FinancialPlanning #CashWealthRiskLegacy

“Like eating well and moving" - Money Monday with Shawna McCrea of Balance Financial Helping YOU Navigate a Financially Successful Life First initial consultation is COMPLIMENTARY https://balancefinancial.net #InspiringFinancialHealth #FinancialPlanning #CashWealthRiskLegacy

“What about RESPs?" - Money Monday with Shawna McCrea of Balance Financial Helping YOU Navigate a Financially Successful Life First initial consultation is COMPLIMENTARY https://balancefinancial.net #InspiringFinancialHealth #FinancialPlanning #CashWealthRiskLegacy

“You know how to accumulate do you know how to de-accumulate? " - Money Monday with Shawna McCrea of Balance Financial Helping YOU Navigate a Financially Successful Life First initial consultation is COMPLIMENTARY https://balancefinancial.net #InspiringFinancialHealth #FinancialPlanning #CashWealthRiskLegacy

“Having a good understanding of your financial goals is an important starting block for creating your financial plan" - Money Monday with Shawna McCrea of Balance Financial Helping YOU Navigate a Financially Successful Life First initial consultation is COMPLIMENTARY https://balancefinancial.net #InspiringFinancialHealth #FinancialPlanning #CashWealthRiskLegacy

“Am I financially ready to retire?" - Money Monday with Shawna McCrea of Balance Financial Helping YOU Navigate a Financially Successful Life First initial consultation is COMPLIMENTARY https://balancefinancial.net #InspiringFinancialHealth #FinancialPlanning #CashWealthRiskLegacy

“What's really important to you?" - Money Monday with Shawna McCrea of Balance Financial Helping YOU Navigate a Financially Successful Life First initial consultation is COMPLIMENTARY https://balancefinancial.net #InspiringFinancialHealth #FinancialPlanning #CashWealthRiskLegacy

“Is your Will and POA up to date?" - Money Monday with Shawna McCrea of Balance Financial Helping YOU Navigate a Financially Successful Life First initial consultation is COMPLIMENTARY https://balancefinancial.net #InspiringFinancialHealth #FinancialPlanning #OnTrack #CashWealthRiskLegacy #BalanceFinancial

“Retirement conversations with your Spouse" - Money Monday with Shawna McCrea of Balance Financial Helping YOU Navigate a Financially Successful Life First initial consultation is COMPLIMENTARY https://balancefinancial.net #InspiringFinancialHealth #FinancialGoals #OnTrack #CashWealthRiskLegacy #BalanceFinancial

“What about OAS & GIS?” - Money Monday with Shawna McCrea of Balance Financial https://www.canada.ca/en/services/benefits/publicpensions.html Helping YOU Navigate a Financially Successful Life First initial consultation is COMPLIMENTARY https://balancefinancial.net #InspiringFinancialHealth #FinancialGoals #OnTrack #CashWealthRiskLegacy #BalanceFinancial

“What is your personalized CPP? ” - Money Monday with Shawna McCrea of Balance Financial My Service Canada Account (MSCA) to find your personalized CPP https://www.canada.ca/en/employment-social-development/services/my-account.html Helping YOU Navigate a Financially Successful Life First initial consultation is COMPLIMENTARY https://balancefinancial.net #InspiringFinancialHealth #FinancialGoals #OnTrack #CashWealthRiskLegacy #BalanceFinancial

“There are no bad $ ?s” - Money Monday with Shawna McCrea of Balance Financial Helping YOU Navigate a Financially Successful Life First initial consultation is COMPLIMENTARY https://balancefinancial.net #InspiringFinancialHealth #FinancialGoals #OnTrack #CashWealthRiskLegacy #BalanceFinancial

“Mortgage vs Term Insurance?” - Money Monday with Shawna McCrea of Balance Financial Helping YOU Navigate a Financially Successful Life First initial consultation is COMPLIMENTARY https://balancefinancial.net #InspiringFinancialHealth #FinancialGoals #OnTrack #CashWealthRiskLegacy #BalanceFinancial

“Do you have the correct products and services for you?” - Money Monday Helping YOU Navigate a Financially Successful Life First initial consultation is COMPLIMENTARY https://balancefinancial.net #InspiringFinancialHealth #FinancialGoals #OnTrack #CashWealthRiskLegacy #BalanceFinancial https://youtu.be/XmES4wqgm8c

“Beneficiary Planning” - Money Monday Helping YOU Navigate a Financially Successful Life First initial consultation is COMPLIMENTARY https://balancefinancial.net #InspiringFinancialHealth #FinancialGoals #OnTrack #CashWealthRiskLegacy #BalanceFinancial

“Start saving for your financial goals asap” - Money Monday Helping YOU Navigate a Financially Successful Life First Phone consultation COMPLIMENTARY https://balancefinancial.net #InspiringFinancialHealth​ #FinancialGoals​ #OnTrack​ #CashWealthRiskLegacy​ #BalanceFinancial​