Clement Chung, CFP, CLU | Fee-based Financial Advisor

Serious sickness doesn’t have to halt your finances

Apr 24, 2017
3 min

Serious sickness doesn’t have to halt your finances

Most millennials may not think a lot about insurance. If you are young, healthy and low on savings, you may not feel that it is a priority, especially if you haven’t started a family. But it could be important for you — and the kind of insurance that makes sense might be surprising. Traditionally, the first policy many people buy is term life insurance. It’s a straightforward, affordable solution that pays a tax-free lump sum to a beneficiary upon the death of the insured. Bu

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What you need to know about Mutual Fund Fees

Apr 21, 2017
3 min

What you need to know about Mutual Fund Fees

RECENTLY, THERE HAS BEEN a lot of marketplace chatter about mutual fund fees — what they are and how much they cost. You may have seen a crop of TV commercials that ask why they even exist in the first place. Raising questions is a good thing. The more investors know, the more empowered they are to get the value they seek from their portfolios. This year, investment account statements have started providing more information on fees, but the new level of detail might raise mor

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3 Ways to Maximize Benefits in Retirement.

Apr 14, 2017
2 min

3 Ways to Maximize Benefits in Retirement.

WHEN CANADIANS AGE 65 OR OLDER think about their overall retirement plan, most focus on ensuring their savings, investments and other forms of income are appropriately managed. But most people’s retirement income also includes a range of valuable benefits available from the government, two of the most familiar ones being Old Age Security and the Age Credit. And a critical feature of these benefits is that they’re highly connected to your taxable income. They can be clawed ba

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Focus on What Matters Most

Apr 13, 2017
3 min

Focus on What Matters Most

EVERY DAY, WE MAKE COUNTLESS DECISIONS. Some are fairly trivial, such as what colour shirt to wear or what to have for lunch. Others have much bigger consequences. If you’re a business owner, these may include how to manage your cash flow, how to protect your company with insurance, and how to choose the right benefits plan to attract and retain the best employees. If you have ever struggled to make an important decision, you are not alone. Researchers have found that each of

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In Life, Everyone Experiences Setbacks

Apr 12, 2017
4 min

In Life, Everyone Experiences Setbacks

These can run the gamut from losing a job to going through a divorce, to recovering from a serious illness. Then there are the unexpected expenses life throws your way. They happen all the time. A leaky roof, a flooded basement, a car breakdown – any one of these may cost thousands of dollars to fix, with the money required right away. Sometimes, more than one of these difficult situations occur at once. It goes without saying that challenging circumstances can affect your fi

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Oil, Trump & the Last Quarter

Apr 10, 2017
3 min

Oil, Trump & the Last Quarter

Considering the year began with such uncertainty, equity and fixed income markets performed exceptionally well in the first quarter. Investors overestimated the magnitude of market volatility that would ensue from an Obama to Trump transition of power and markets shrugged off the political drama and took equities higher. Challenges in the quarter This past quarter exemplifies what investors should consider with regard to their portfolios. There are many sentimental reasons to

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Seeking Shelter in Stormy Seas

Apr 9, 2017
3 min

Seeking Shelter in Stormy Seas

MANY CANADIANS ARE APPREHENSIVE about investing. And who can blame them? Between plunging oil and commodity prices, and the Canadian dollar’s free-fall, the economy has taken a big hit. So has investor confidence. Market volatility, together with economic uncertainty, is the new normal – at least for now. But even in a tough investment environment, diversification, with at least some exposure to stock markets, may be one way to stay ahead of inflation. This is precisely

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The Right Fit.

Apr 8, 2017
4 min

The Right Fit.

EVER NOTICE HOW MANY OF LIFE’S BIGGEST GOALS have some financial component? Sure, you can master a foreign language or run a marathon without making a significant financial commitment. But try buying a home, starting a family or helping your kids go to university. Same goes for retiring early or leaving a legacy. Without disciplined planning and saving, these goals can just slip away. If you’re juggling a job and a busy family life, you probably don’t have time to figure it a

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Ready or Not? Doesn't matter, it's still going to happen.

Apr 7, 2017
2 min

Ready or Not? Doesn't matter, it's still going to happen.

IF A MAJOR EARTHQUAKE EVER HITS Nanaimo, B.C., Pam and Bill Merriweather* will be ready. They have two backpacks equipped with water, emergency rations, copies of their passports and other ID, and a small amount of cash in case they need to evacuate. They live by the slogan — Be Prepared. And just as they keep first-aid kits in their vehicles and a stash of candles at home in case the power fails, they’re also ready to deal with financial emergencies. They’ve set up a savings

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5 Really Smart Things To Do With Your Money

Apr 6, 2017
3 min

5 Really Smart Things To Do With Your Money

IT’S THE BEST KIND OF SITUATION — you have some extra money. Perhaps you’ve saved diligently throughout the year, or it’s arrived all at once as a tax refund. What’s the best way to make use of your windfall? Of course, the answer depends on your personal circumstances. This article will take a look at a reasonable figure — $5,000 — and some strategies that can help you make the most of it. Two strategies that can move you closer to debt freedom More than three-quarters of C

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