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14 • The <strong>Columbia</strong> <strong>Valley</strong> <strong>Pioneer</strong> March 2, 2007<br />
Brendan Donahue<br />
Investment Advisor<br />
Phone: 342-2112 YOUR MONEY<br />
GIC Rates as of Feb. 26 th<br />
cashable 4.00%<br />
90 days 4.16%<br />
1 yr 4.25%<br />
2 yrs 4.26%<br />
3 yrs 4.30%<br />
4 yrs 4.30%<br />
5 yrs 4.30%<br />
New High Interest Savings Accounts<br />
No minimum balances 3.85%<br />
No fees<br />
Interest calculated daily, paid monthly<br />
Redeemable at any time<br />
RRSP and RRIF eligible<br />
Investments<br />
GICs, Stocks, Bonds, Preferred Shares,<br />
Income Trusts, Mutual Funds,<br />
High Interest Savings, RRSPs<br />
Rates subject to change without notice.<br />
Subject to availability.<br />
Brendan Donahue,<br />
BCOMM, CIM, FMA<br />
Investment Advisor<br />
Berkshire Securities Inc.<br />
342-2112<br />
Jason Elford,<br />
CFP<br />
Investment Advisor<br />
Berkshire Investment Group Inc.<br />
342-5052<br />
The <strong>Columbia</strong> <strong>Valley</strong>’s<br />
Premiere Wealth<br />
Management Firm<br />
Planning<br />
Estate Planning, Retirement Planning,<br />
Retirement Projections,<br />
Income Splitting,<br />
Registered Educational Savings Plans<br />
Services<br />
RSP Loans, Mortgage Referrals,<br />
Pension Transfers, Group RRSPs,<br />
Complimentary Portfolio Reviews<br />
Baby boomers should discuss<br />
Most people review their Investment portfolio regularly!<br />
When was the last time you reviewed your Life Insurance Portfolio?<br />
In our ever changing world it is<br />
important that your<br />
insurance is reviewed<br />
constantly to ensure that it<br />
is the best and most<br />
appropriate coverage<br />
available.<br />
needs of aging parents<br />
Th e population is aging faster than ever before.<br />
In 1997, there were 390 million people over the<br />
age of 65, comprising 6.6 percent of the world’s population.<br />
By 2025, this number is expected to exceed 800<br />
million, or about 10 percent of the population.<br />
Th is demographic shift will soon become a serious<br />
challenge for our society. In addition to taking care of<br />
their children, baby boomers may well be responsible<br />
for the care of their aging parents.<br />
Add to this the growing concerns about the longterm<br />
fi nancial viability of government-sponsored medical<br />
care, and you have the makings of a full-fl edged<br />
crisis.<br />
Most people tend to avoid a discussion around<br />
health care planning, simply because they prefer not<br />
to face their own mortality or the diffi cult decisions<br />
surrounding it.<br />
Th e truth is, discussing the topic early with your<br />
parents can save you and your family problems in the<br />
future. Here’s how:<br />
• Talk to your parents about their wishes:<br />
Find out their perspectives on housing arrangements<br />
and medical procedures. Support them in building<br />
a comfortable future. Be sensitive when discussing<br />
their concerns and wishes—the subject of long-term<br />
care can touch on a variety of intensely personal issues,<br />
so you’ll want to initiate the conversation with<br />
sensitivity and empathy.<br />
• Get the whole family involved:<br />
Taking care of your aging parents is usually more<br />
Market Action<br />
As of Feb. 12 th , 2007 Weekly Gain/(Loss) YTD<br />
S&P/TSX Composite Index 13,404 211.46 3.85%<br />
Dow Jones Industrial Average 12,632 -67.74 1.36%<br />
Nikkei 17,940 275.35 5.18%<br />
Oil (New York) $61.39 $2.00 (0.57%)<br />
Gold (New York) $689.00 $17.00 7.66%<br />
Canadian Dollar (in US dollars) $0.8588 0.0006 3.38%<br />
As one of the valley’s only<br />
truly independent Life<br />
Insurance brokers, I have<br />
access to most of the major<br />
carriers and can help you to<br />
ensure that you have the best<br />
products to suit your needs.<br />
For a complimentary review<br />
and to see if we can lower your<br />
cost or improve the quality of<br />
your existing coverage call me at<br />
342-5052 or just stop in to the<br />
Berkshire offi ce and ask to see<br />
Jason.<br />
Jason Elford has been a wealth management specialist in Calgary for more than 9 years. Now a full time resident of Invermere,<br />
Jason recently joined the Berkshire offi ce with Brendan Donahue and Bruce McLaughlin.<br />
work than one person can handle. Th at’s why it’s a<br />
good idea to discuss the topic with your siblings and<br />
other members of the family if appropriate. Find out<br />
what their positions on the subject are. Are they able<br />
to help fi nancially? Or perhaps with their time?<br />
• Clarify your parents’ fi nancial situation:<br />
To create a viable caring strategy, you’ll need to<br />
know exactly where your parents stand fi nancially. Reviewing<br />
fi nances early will enable you to take appropriate<br />
action if required.<br />
• Look for help outside of the family:<br />
Caring for elderly parents is a popular topic, and<br />
it’s sure to become even more so as the population<br />
ages. Keep an eye out for services and seminars in your<br />
community that address the topic. Look into seniors’<br />
organizations, churches or community centres for assistance—you<br />
never know where you’ll fi nd help.<br />
• Financing long-term care:<br />
Th ere may come a day when your parents require<br />
fi nancial assistance so you’ll want to be prepared.<br />
Most Canadians will have three main options: government-sponsored<br />
care, in which case you will have<br />
little control over the care provided; private funding,<br />
where you may have to dip into your savings or home<br />
equity; or long-term care insurance.<br />
Long-term care insurance is a sensible choice for<br />
many families.<br />
However, with so many variables to consider, it’s<br />
a decision that’s best made after a thorough discussion<br />
with a qualifi ed fi nancial professional.<br />
Jason Elford<br />
Certifi ed Financial Planner<br />
Insurance Advisor<br />
712 - 10th Street, Invermere<br />
Phone: 342-5052