Mitch Reynolds, CFP
#105, 6036 3 Street SW T2H 0H9 Calgary, AB, Canada

During this webinar, "Save for retirement now", we will deliver valuable information on key financial topics and can help you learn about personal financial management. In this session you will learn: Why you need to plan for retirement... How much you will need for retirement Sources of income at retirement How to protect your retirement fund Phases of retirement and what to know If you would like to take advantage of a free personal consultation with an advisor, please contact us @ 403-212-1111, visit our website @ https://advisor.sunlife.ca/mitch.reynolds/, or book in with us online @ https://calendly.com/sunlife-mitchell-reynolds/faa-meeting ** A personal consultation with an advisor at our office is confidential, flexible and free of charge. Thank you for your time!

POWER THURSDAY - Time for a Financial Check-Up Knowledge is power, and it's time to do a quick financial check up. How is your relationship with money? Do you "pay yourself first"? Are you looking to the future for your retirement dreams and protecting yourself and your loved ones along the way? Sun Life has a wonderful, quick and easy Financial Check-Up tool that only asks a few questions to determine if you are doing well with your money, or if you need help and guidance.... If you are honest with your answers the guidance it gives is very valuable and helps you see what next steps you could take to get your finances on track. Whatever your goals are, you probably need a little help to get started on the path to achieving them. Take this 2 minute check-up and see where your opportunities are. If you need further help, call me at 403-212-1111 #powerthursday #financialadvisor https://bit.ly/3cWs1pv

Thank you for the constant support, Tyson! You made all the right moves and I’m glad I could be there to guide you through your financial options.

For most people, an RRSP is a great way to save for #retirement and pay less tax, but there are some other really useful things you can do with them. Here are 6 ways you can utilize an RRSP to reach your financial goals. #personalfinance

Reminder: March 1st is the deadline to contribute to your RRSP for the 2020 tax year. Now’s the time to think about contributing so you don’t miss out.

As the new year begins why not kick-start it off with a new plan, like saving more money. Let’s get you there by reviewing your financial goals today. http://bit.ly/LetsGetYouThereFH

WATCH OUT WEDNESDAY - Solutions to Financial Impact of Health Risks This week I'm talking about what is the financial impact of getting a life altering critical illness. No, let's talk about solutions and how much is enough. There are a couple ways you can buy a critical illness insurance policy to offset the risk. The first is to focus 100% on covering the financial impact of the risk but if you never get sick, the premiums you spent on the policy are a sunk cost.... The second way is to have the coverage you need, but if you don't get sick, you can get back all the money you put into the policy. Yes! 100% of every dollar you put in you would get back if you never get sick. How much do you need? Think about covering your mortgage or rent for 2-3 years, paying off other debts and covering utilities and groceries for 2-3 years also. For most of us this would be about $100K - $250K of coverage. Pricing out the right amount of coverage and product for you goes beyond this post, but if you want to learn more call me at 403-212-1111. #watchoutwednesday #criticalillnesscover #financialadvisor https://bit.ly/3oY4LJS

Here is the recording of the Save for Retirement Now webinar we conducted today. I hope you enjoy the recording.

Looking to estimate how much life insurance coverage you need to take care of your family? Try this 2-minute calculator today. @SunLifeCA #insurance #planforthefuture

MONEY MONDAY - Step 1 for 2021, Pay Off Debt. It is the usual January for most of us. Too much holiday spending. #Creditcards #debt. General #money stress. The first thing we all need to do is attack that #highinterest debt. Pay off those credit cards ASAP. If you don't have enough cash you can use a lower interest rate loan, like a line of credit (LOC), to pay off the credit cards, but you have to remain committed to paying off the loan amount in the next few months.... If your credit card has 19% interest and your LOC is 6% you can save a lot of money. How much, you ask? For every $1,000 of debt you would save about $10.83 per month by shifting to a lower interest rate. One strategy is to use the #taxreturn you get from making #RRSP contributions and other #taxdeductions to put towards debt. Since there is nowhere to go, and that mid-winter tropical vacation is on hold, use those dollars towards your debt payments and feel more financial freedom. #moneymonday

TRUTH TUESDAY - Bullet Proof Your Retirement Plans If you don't have your health, everything else suffers. If you have a good savings plan and are well on track to reach your retirement dreams, a serious, life altering illness can total destroy those plans. I've seen it, even this year with clients, who are needing to pull out huge amounts from their #RRSP to make ends meet. But, you can plan for this so the financial impact is not so hard.... Critical Illness Insurance is a product that pays a lump sum of money, tax free, upon diagnosis of things like Cancer, Heart Attack, Stroke, Bypass Surgery, MS, Parkinson's, ALS, and much more. If one of these events strikes your life, do you think you could use $50K, $100K, even $250K of immediate money? The answer for almost everyone is a definite YES! The chance you might be diagnosed with a life altering illness before age 65 is almost 1 in 3! Those are high odds. If you want to learn more about how Critical Illness Insurance could bullet proof your retirement plans, feel free to call me at 403-212-1111. #truthtuesday #criticalillnessinsurance #retirementplanning https://youtu.be/ystYlBuphSI

Health Canada approved both the Moderna and Pfizer-BioNTech's COVID-19 vaccines and now provinces are preparing their roll-out plan. Here's a look at the plans across the country. #Health

Prior to the pandemic the idea of working from home didn’t seem like a bad idea. Now, 9 months in exhaustion, loneliness and numerous distractions have really set in. How do you remain engaged and motivated throughout the day? #worklife #motivation

Wishing everyone a safe and happy Christmas. #HappyHolidays #Family

Want to find out how investments and insurance work together to help you achieve your goals? Let’s get you there together. Set-up an appointment today.

MONEY MONDAY - Clip That Coupon for the Next Few Years If you’re invested into #Bonds you’ve had a very good year. The value of existing bond funds have gone up in 2020, especially if those were government and high quality corporate bonds. Why did these bonds do so well in a year of uncertainty and a major recession? Here’s how bond investing reacts to interest rates:... 1. When #interestrates in the #economy are going up, the value of existing bonds goes down. This is because the interest rate being paid on existing bonds is fixed but is always being compared to the prevailing market rates. If you can buy a new bond at a higher interest rate, why would you pay the same price for an existing bond with a lower rate? 2. Conversely, when interest rates are falling the value of existing bonds goes up. This is just the reverse of the reason above. New bonds have lower rates so the value of existing bonds goes up. At present, rates are expected to stay level at these lows through to the end of 2023 (signalled by the Federal Reserve), In this environment a bond manager with a good portfolio of interest paying bonds can reliably collect the income without the value of the bonds going up and down. This is called Clipping the Coupon. This will allow the risk management part of your portfolio do what it was designed to do - provide steady income and reduce volatility risk of your stock/equity investments. #moneymonday

Set. Reach. Repeat. Discover how I can help you understand your goals, prepare for the unexpected and take advantage of new opportunities. Reach out today.

If you have life insurance you may be eligible for a tax break. Find out if your premiums are tax deductible:

Feeling the effects of burnout? You’re not the only one. Covid-19 has brought on a new list of burnout symptoms. Here’s what you need to know.

WATCH OUT WEDNESDAY - Two potential good events for #stockmarkets Even though the market has recovered greatly from the pandemic crash, there are still many businesses that have depressed stock prices. Think of the travel and tourism industry, entertainment like movies and theme parks, restaurants, commercial real estate, retail, etc. These companies are still suffering and need a boost. Here are two possible events that will really help them. 1) A Vaccine - once a #vaccine i...s announced, and people are willing to take it, then it is only a matter of time before countries and the world can overcome COVID-19. There is a light at the end of the tunnel for these businesses that depend on people congregating or travelling. Things will get back to normal. 2) New US Stimulus - the newest #stimuluspackage in the US, currently being argued over between Democrats and Republicans, will be around $2 Trillion. This second round of money injected into the economy will also cause markets to go up, as businesses get support and consumers have the ability to spend. If the Democrats win the Presidency and the Senate then they can pass any Bills they want, including a new stimulus package. Watch for these things over the next few months. #watchoutwednesday

Wishing you and your loved ones a very happy Diwali.

Many people have the intention of one day writing out their will and estate plans but for whatever reason have put off. There is no better time than now, when you’re healthy and sound of mind.

Did you know that it could cost $80,000 in 20 years to obtain a degree? As education costs continue to climb it becomes imperative that you start to save early. To begin saving for your child’s future, contact me today.

Feeling anxious about the #holidays? A registered psychologist has #tips for getting through the season in the era of #COVID-19.

At Sun Life we continuously innovate to provide extensive health tools, including mental health. We're here to help you put your well-being first. Whatever your goal is, I’ll make sure you're covered. Let's get you there. http://bit.ly/LetsGetYouThereMH

Five- year fixed mortgages rates could be heading for an increase for the first time since the pandemic. Have a mortgage coming up for renewal soon? If so, touching base with your broker might be in order. #Rates #Mortgage

TRUTH TUESDAY - Put your oxygen mask on first before helping others. Many people want to help their family and friends out when they need it. Our Federal Government wants to help out poor countries during this pandemic, like paying for #vaccines once it's approved. All this is noble and, arguably, necessary but we have to make sure our own house is in order first. If your children, siblings, parents, etc. are in financial difficulty during this pandemic due to a job loss, ho...w much can you afford to help? Should you sacrifice your own future to help save them? I would argue that no, you should not do that. If you have free cash flow or available savings that are not part of your retirement plans, then you can help with that money. If you cash in your RRSPs to help, you incur huge taxes and destroy your future retirement dreams. Who is going to fund your retirement when there isn't enough money? You might be left out in the cold. And should Canada give billions away to fund vaccines for poor countries? Not until we have secured enough vaccine to inoculate the entire Canadian population first. We will be better prepared financially to help others when our economy has revived and is running again at full steam. #truthtuesday

Chances are you know someone or have a family member who has required long term care due to an accident or illness. Having financial protection in place will help relieve some of the stress put on loved ones and help ensure your needs are taken care of. Learn more here. http://bit.ly/LTCISLF

Parents! Settings aside $2,500 a year, per child is no easy task. Did you know that the government allows you to catch up on the RESP grant up to one year? To learn about all your saving options, contact me today!

There’s an old saying: an ounce of prevention is worth a pound of cure. This is a good reminder for us that it’s better to get supports in place sooner rather than later. If you’re #caring for an important #senior in your life, here’s a list of providers that can assist them with their #health and #wellness. #luminohealthy

In September, Sun Life hosted a wealth webinar on the impacts of market volatility on your finances. Weren’t able to attend? Click here to listen to expert tips on how to save for retirement during the pandemic and beyond.

WATCH OUT WEDNESDAY - Is the US Election already decided? After being in many, many webinars about current market conditions and increased volatility, the same question comes up over and over from advisors - will the #uselection2020 cause major stock #marketvolatility? No one really knows the answer, but every single portfolio manager and analyst I have heard has predicted a Biden win with about an 80% certainty. Stock markets have already priced in a Biden win, and there wou...ld be more volatility if Trump wins, unexpectedly. I have also seem a mathematical model that predicts a Democratic sweep of the Presidency, House and Senate with a 55% probability. Take a look at the BBC US Election page: https://www.bbc.com/news/election-us-2020-53657174 Look at how far Biden is leading in battle ground states and then try play their "Predict the president" game. It looks like Trump will need to pull an elephant out of his hat in order to win - forget a rabbit. The big worry is a contested election, with mail-in ballots being counted for weeks and Trump not accepting the results. This is the worst case scenario for stock markets. #WatchOutWednesday

It’s a common misconception that our government health insurance will cover all of our health-care costs. There are however a lot of expenses that might not be covered if unexpected health changes occur. That’s why it’s important to have continued protection in every stage of life. Need help choosing the right plan for you? Contact me to today. https://advisor.sunlife.ca/mitch.reynolds/

TRUTH TUESDAY - Don't cry over spilt milk (Sunk Costs) Today we're going to talk about two ways your attitude towards #money is often irrational and will cause you to make bad decisions. The first is called #SunkCost. ... This is when you have already lost money or paid for something that no longer holds #value. The money is lost/spent/gone. It no longer exists, and holding onto something that has little or no value, in hope that it will regain value in the future, is a costly mistake. With #investing this often looks like people holding onto stocks or funds that have lost money, hoping the #investment will regain value. There is no guarantee that the value will ever come back, and you don't know how long it will take. The second is called #OpportunityCost. This is the lost opportunity to put your money into a type of investment vs. another investment. An example is holding onto that "Sunk Cost" investment which is probably not going to recover anytime soon vs. putting your money into an investment which is growing much faster and is much more likely to add value quickly. So, accept your sunk costs, limit your opportunity costs by redeploying money into investments which will grow value and #wealth more quickly. #TruthTuesday

When considering which type of life insurance you should purchase, understanding the basics, benefits and realities are important. To find out if term or permanent insurance is right for you, contact me today!

A change in season is an ideal time to develop new heathier and more productive lifestyle habits. The cool, crisp air represents a fresh start so why not start now? Here are some great reasons to make your resolutions in the fall instead of waiting until January.

Win groceries for a year from Sun Life! Simply download and sign in to the my Sun Life mobile app to unlock your chance to win. Visit sunlife.ca/groceries for full contest details.