I'm back with a fresh new look

Happy New Year! Lets start this new year off right. I ended 2012 with a big change. I'm no longer a financial advisor with Sunlife Financial. I am now back to my roots of health promotion, wellness and fitness. Helping people is what I love and believe it is what I'm meant to do. We need to take charge of our health and well being first and foremost. Financial wellness is a big part of this too. However I have decided to take this blog in the direction of promoting good health, illness prevention and overall wellness. Stay tuned for more.
All the best for 2013 and onward.
Karen

How I can help you..

Many people ask me what I do. Financial Advisor just doesn't seem to paint the picture. So I will tell you a few stories of people I have helped. (names have been changed due to privacy)

Client 1. Bob and Sue are new home buyers.
They are expecting their second child any day and they have an 18 month little girl named Rosie.
Bob is 41 and Sue is 37.
Bob is a self-employed General Contractor and Sue is a Grade 3 teacher.
Bob's income is $100k - Sue's income is $70k
Mortgage - 750k
car loan - 15k
line of credit - 11k
Sue has a group benefit plan that includes basic life insurance of 70k, extended medical and a disability plan. She also pays into a pension. Bob, on the other hand does not have any coverage. He decided to start his own business 2 yrs ago and has been thinking about some sort of disability plan since he left his employer.
He contributes $100/mnth into an RRSP with a balance of 130k. Some of his RRSP contributions are locked-in from his previous employers matching program.
They opened up TFSA at their bank 1 yr ago but have not contributed anything into them.
They contribute $100/mnth into Rosie's RESP
Bob and Sue initially approached me to discuss life insurance to protect their mortgage. Our first meeting involved a discussion around their needs and I gathered the above information. I also asked them if they would need any extra support above the mortgage if either of them passed away ie education savings, child care, income support etc We scheduled another meeting for the next week. I asked their budget and explained I would have my recommendations at the next meeting.
My recommendations included 1.5 million 20 yr term life insurance for Bob
800k term life insurance for Sue
Disability plan for Bob
review retirement/investment plan in 3 mnths Bob and Sue were happy with my recommendations.
We began the application process on the insurance and made a note to connect in 3 months to review their retirement savings plan.

Client 2. Jim and Linda are 64 yrs old
They are both recently retired. They are consolidating their insurance and their investments. They want to streamline their accounts. They have received their first CPP payments, employer pension and their OAS payments will begin shortly. They want to make sure their investments are growing steadily until they need to RRIF their accounts. I met with them to gather the detailed account information, their assets and their liabililities. We set another meeting to discuss my recommendations for the following week
My recommendations included
- rolling over the extended medical plan from their employer
- A permanent life insurance policy for basic final expenses and a small amount included for their grandkids each for 75k
- an investment strategy that will guarantee growth with low risk.
Jim and Linda were very happy with my recommendations. We began the process of putting the plans in place. They were very pleased on how easy it was to consolidate their investments. - Linda mentioned that she has been very stressed helping her elderly mother. She has Alzheimers and will need full time care soon. I discussed how Long Term Care insurance may be a good plan to consider. Later that month we put a small Long Term Care insurance plan on Linda to help protect against the potential increased health care need in the future.

Client 3. Joanna and Michael are existing clients 31 yrs old
We met 2 yrs ago to do simple life insurance. I met them when Michael's Mom passed away from cancer and a friend referred them to me. They recently got married and would like to buy a condo in the next 5 yrs. I called them to do a review and it turns out there have been some changes in their life so we decided to meet.
- We reviewed their existing coverage.
Decided to leave as- is for the present time. Will reconsider when they buy their condo/have kids
- put a savings plan to build their down payment
- applied for critical illness insurance. Seeing the impact that cancer had on Michael's family was enough reason for Michael and Joanna to see the need. This will also make sure that IF either of them is faced with an illness, their savings can remain intact.

These are three very different types of clients. Each client I meet with will have different needs and priorities and therefore my recommendations are indvidually suited.
The scenarios above are just examples of how I work with my clients and how I can help you!
Thanks! Karen
 karen.divenanzo@sunlife.com 604-683-6905 ext 205

Celebrating the good...

My life is about celebrating and appreciating. I am so thankful for the lessons that I've learned and what I have faced in my young life.
Some people are able to go through life with little upset, disappointmets and loss. I am so happy for them! I wish I could say the same for me. Yet I am thankful for the challenges I have faced because they have taught me so much. I never want anyone to go through what I have.. Losing my Mom to a devastating illness at 53, my Dad dying from a heart attack at the age of 68, my partner being diagnosed with breast cancer..to name a few things.
I like to think I have handled all of this with great strength and a positive, happy attitude. From all of this I have had many great things and people come into my life. That is why I am thankful. I have so much to celebrate.. my health, my family, an amazing son, my friends, my career.. I can go on and on.
Keeping a positive attitude and being thankful for things I do have is a main reason I have been able to manage tragedy. Focusing on the things I can control and helping others do the same is what I focus on now.

Unfortunately tragedy can strike at any time. Therefore it is our responsibility to be prepared because this is what we can control.
I can help you with some of these..
- you may get ill or severely injured
- you may die too young and force your spouse and family to struggle financially
- you may be fortunate to live a long life but not have saved enough money for your retirement and become a burden on your kids

I am not suggesting that any of these things will happen.. and I certainly hope they do not. By having a few plans in place, you can make sure that if the "what if" happens that you and your family will be ok.


Thanks for reading!
Karen

Contact me to talk about your plan
karen.divenanzo@sunlife.com
604-603-8571

Interview with my 6 yr old

I was interviewed by my 6 yr old son yesterday. They are doing a project in his class on "Jobs in your community". I was so proud that he asked me what I do but I was a little stumped. I will tell you why...

The questions were like this..

Title of job - I chose one
- Insurance Advisor

3 activities that are involved in the job.
1. Meeting with clients
2. Helping families plan for the future
3. Delivering cheques when they need it

3 tools used to perform the job
1. Computer
2. phone
3. money

Talk about pressure to keep it short and fit in the space provided!
Being put on the spot, I realized that this is a good exercise for everyone to do.
When asked what you do by a friend, neighbour etc can you define your work in a few short lines/sentences?

Are you happy with the work you do? I can definitely say YES! and so proud to share this with my son.

To health and happiness!
Karen

If you are interested in learning more about the work I do please contact me
karen.divenanzo@sunlife.com
www.sunlife.ca/karen.divenanzo
604-603-8571

Let's talk.. Financial Friday

If you are reading this... I'm so proud of you! You've had a busy week and I'm sure it doesn't end here. If you are parent, perhaps the busiest times are your weekends!

I want to share with you some thoughts and views I have regarding financial plans.

I had a gentleman contact me through Sunlife Financial Advisor Match. If you don't know what I'm talking about go to www.sunlife.ca Do a quick questionnaire and if you like, you will be matched with an advisor who seems like a good fit.

Anyway, we chatted about how he went into the bank he deals to speak with a Financial Advisor. Seems to make sense as he has his mortgage there, a line of credit, chequing account. So he tells me how the meeting went... 1.5 hrs of someone not listening to what they wanted to do. Perhaps only going off a script on the sales quotas for the week. Basically the person just tried to sell them insurance for the whole time. This is not a financial plan! This is not what he had on his mind! So.. this is why he contacted me.

If you have had an experience like this I would highly suggest looking outside your bank and group savings/benefit plan. Look at your overall plan and make sure you are being listened to. What are the most important things on your mind? Is it paying off debt, saving for a house, saving for retirement? Do you have children? Run your own business?

* By no means am I saying that all Financial Advisors at banks are like this. Be your own advocate and be true to yourself. Make your own opinions and know you have many options out there.

Ask me about Sunvision Financial Analyzer to get your financial plan today.
www.sunlife.ca/karen.divenanzo
karen.divenanzo@sunlife.com

In with the good.... out with the bad

This title might be misleading since it sounds rather drastic. Actually it is something that my Mom would say to me when I was young.. With her hands on my shoulders we would breathe in a deep breath together and she would say "In with the good" and with a big exhale "out with the bad"
Simple words that I still live by however I forgot this for awhile.. a little too long. I'm glad to say that I have found it again.
Seeing a healer has made me realize that I have been holding my breath for a very long time.. probably since my Mom passed away in 1999. Even earlier, holding my breath during figure skating competitions, swimming classes and even during canada fitness (remember those?) Make me wonder what the trigger was, or was it just my nature? Anyway, I have been seeing a healer, doing yoga, meditating and exploring modern buddhism. I can tell you that it has helped me release and let go of the things that have kept me stuck.(holding my breath)

I think that we all need to check in with ourselves, be present and patient. Step out of our routines, slow down and see where we are, where we've been and where we plan to go.

Assess your values and take ultimate care of yourself and others... Physically and Mentally. We are constantly busy with our days, adding more stress if we are unable to deal with it properly. If we have inbalance in our lives that is when illness or accidents are more likely to occur.

This post wasn't supposed to be about the work I do but somewhow it seems to fit.
We all know that money and finances can cause us huge amounts of stress. If you or someone you know could benefit from a meeting with me to do a check-in with their financial plan please contact me karen.divenanzo@sunlife.com There is no cost.

Thanks for reading

Karen

Insurance overload? The benefits of having it when you need it most

If you are over the age of 16 then you probably have had your first discussion about insurance. Car insurance as soon as you get your drivers license. Perhaps you are in your 30's and 40's.. 50's and so on.. and you own a house/condo and have homeowner's insurance. Renter's insurance or contents insurance. If you are a business owner you have liability insurance. The list goes on.. This is why I believe that most of us shut down when we hear about any insurance at all. We feel tapped out. I want to bring up a few key points surrounding the topic of insurance and the experience I have had. As a child I knew that we had health insurance because we went to the dentist often, if we had any medications we would show our card at the pharmacist. Sounds pretty familar to many I'm sure. It wasn't until I was 22 when I learned about the real benefits of having these plans. I was in my last year of University and my Mom was suddenly diagnosed with ALS/Lou Gehrig's disease. A shock indeed as she was only 52 yrs old. So it begins.. She is unable to work as her speech began to slur, not able to drive, and her mobility quickly deterioted. A bit of a blurr but I remember my Dad with a stack of papers at the kitchen table...pages and pages read Sunlife Financial health insurance, disability insurance, prescriptions, physio, home health care, equipment.. The list goes on. The real concern were my parents. My Mom dealing with an illness taking over her life and my Dad taking the extreme burden of being her main care giver as long as he could. I cannot imagine the extra stress if he had to work extra hours to factor in these increasing costs. My Mom died within 7 months of being diagnosed with ALS. She died at the age of 53 in 1999. I learned so much from her. She was a great Mom. I still miss her terribly. Which brings me to the life insurance she had in place. The home that my brother and I grew up in was now passed to my Dad clear of a mortgage debt. My brother and I were able to pay off our student loan debt. I would rather still have that debt to have my Mom here, however it was just a little.. It was what my Mom would have wanted for us. Fast forward a few more years... my Dad remarried and shortly after retired. His life insurance, health insurance coverage dropped significantly when he reached 65 yrs old. This happens to mostly everyone! So if you don't have anything such as life insurance outside of work, then I highly recommend it! He died in 2007 from a heart attack and I haven't spoken to his wife since. I don't blame her as there were no clear instructions in the Will to set aside anything for my brother and I. Lesson - Get a Will, clearly write out what you would want to happen when you die and perhaps discuss some different scenarios. Wait, there's more... My partner 34 yrs old in 2007 was diagnosed with breast cancer. Totally healthy now I might add! However, at the time of diagnosis our worlds were turned upside down. Chemo, surgeries, time off work, raising a young child, paying mortgage, general survival. Critical illness insurance saved us at a time when we really needed it. The benefit allowed us to focus on recovery and take the stress away from finances. My message here is not to go crazy and get all kinds of extra insurance but to begin with an assessment of what you need, what is mandatory and perhaps where you have large gaps. We can't insure ourselves for every minor thing, so it's important to get the right kind of coverage for you and your family. If you would like to know about your current coverage and your needs please do not hesitate to call me. It is part of what I do, there are no costs associated with meeting and doing a needs analysis. Thanks! Karen karen.divenanzo@sunlife.com 604-603-8571 www.sunlife.ca/karen.divenanzo