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Welcome to Dynamic Wealth Management

Welcome to Dynamic Wealth Management's brand new website.  Please take a look around and take a moment to read the blog.  I will be posting my thoughts on investing and the markets every Monday, so check back every week to get the latest news.

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Life Insurance – Buying Early = Saving Big! PDF Print E-mail
Written by Kalson Jang   
Monday, 31 January 2011 23:46

When it comes to Life Insurance, a lot of people tell themselves “I don’t need Life Insurance, I’m young and healthy”.  Although that may very well be true, Life Insurance is one of those things you buy to protect your dependents in the event that something unexpected were to happen to you.  Part of my job in being a great Wealth Manager is to help you plan for the unexpected.  It’s my job to think of all the scenarios that can cause you and your loved ones financial hardship and it’s my job to make you aware of those problems and to help you avoid them.

Although you may indeed be young and healthy, you never know what tomorrow will bring.  Even so, you may say “I agree that Life Insurance is something I will need, but I currently don’t have any dependents who are relying on me financially so there’s no need for me to buy life insurance now”.  I think that thought goes through many people’s heads when they are considering buying life insurance.  They believe in the many benefits that life insurance has to offer (click here for an article I wrote previously on the benefits of life insurance), but do not have any dependents which would compel them to spend the money on life insurance.

What this line of thinking doesn’t take into account is the fact that Life Insurance gets more and more expensive as you get older.  Let’s take this real world example of a male, non-smoker and see how much his life insurance will cost for $250,000 in insurance coverage (payments will be made for 20-years.  At the end of the 20-years, the insurance is paid for in full and the insured is covered for the rest of his life.  No more insurance premiums will have to be paid after this time, guaranteed!  If he decides after 20-years that he no longer wants the insurance, he can cash it out for more money than he put in.  In other words, his insurance was free plus a few extra dollars in his pocket for his time!)

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RRSP Season is Here – Great Tips on How You Can Benefit the Most! PDF Print E-mail
Written by Kalson Jang   
Monday, 10 January 2011 22:39

To everybody reading this article, I want to wish you a Happy New Year.  I hope the New Year brings great health, happiness and prosperity to you and your family.  2010 was a great year for the markets and I’m looking forward to an even better year in 2011.

It’s RRSP season again so I wanted to remind everyone that the deadline to contribute to your RRSP is March 1, 2011 if you would like to make a deduction on your 2010 taxes.

If you do not know what an RRSP is, please read the following articles as they provide a great comparison of RRSP’s and TFSA’s as well as providing some interesting investment strategies that you can take advantage of:

RRSP vs. TFSA – Which is Best?

RRSP Myths Revealed

As for RRSP’s for the 2010 tax-year, you can contribute up to 18% of your income in 2010 up to a maximum of $22,000.  For the contribution to be eligible for deduction on your 2010 tax-return, you need to have this contribution made by the March 1, 2011 deadline as indicated earlier.

Also, if you made a contribution to your RRSP in previous years and did not make a deduction yet, you can apply that deduction to your taxes this year.

Everyone hates paying taxes, which is why RRSP’s are so popular.  Not only does investing money through your RRSP save you a significant amount of taxes paid, any investment income earned in your RRSP is tax-free until you withdraw it.

If you are saving money towards buying your first home, you can even use your RRSP to help pay for the down-payment.  By using the “Home Buyers’ Plan” offered by the Government of Canada, you can use up to $25,000 of your RRSP account towards the purchase of a home without having to pay any taxes.

Let’s take a look at an example to see how this would work in real life:

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Why GIC's are Losing You Money PDF Print E-mail
Written by Kalson Jang   
Monday, 25 October 2010 22:39

Whenever I speak to prospective clients, I often see that they are holding their money in cash or GIC’s.  They view this as a safe investment where they won’t lose their money, but the reality is that putting their money into GIC’s loses them money every single day.

On the surface, GIC’s seem like a safe and sure thing.  Deposit your money into a GIC with the bank, wait a few years and get access to your money again with interest.  Unfortunately, the interest rates for GIC’s are very low and are usually 2% or less at the big banks.  Also, the banks do not allow you to withdrawal your money before the term is up without incurring significant penalties which include losing any interest you have earned to date.

GIC’s are very good for the bank.  They borrow money from you and pay you 2%, and then they lend the money out to someone else who ends up paying much more than that.  The bank also uses money raised from GIC’s to make their own investments into the market place.  In other words, the banks borrow billions of dollars by offering their clients GIC’s, and then make billions of dollars each year using their clients’ money that they borrowed for cheap.

The reason this works is because a lot of people are put off by the uncertainty in the financial markets.  They remember how much the markets dropped in 2008 and don’t want to lose their hard earned money.  That’s a normal feeling for everyone, from big investors to small investors.   The difference in how investors handle this fear is what separates the successful investors with the unsuccessful ones.

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Investment Newsletter - Q3 2010 PDF Print E-mail
Written by Kalson Jang   
Monday, 08 November 2010 23:33

My newsletter for Q3 2010 is now available for download in the downloads section of my website:

http://dynamicwealth.ca/index.php/downloads

It contains a lot of useful information about where the market has been and where I see it going. I think you will find it as a useful guide to help you navigate the current financial markets!

As usual, if you would like to discuss things further with me, please feel free to contact me!

Best Regards,
Kalson

Phone: 416-775-8777
E-mail: This e-mail address is being protected from spambots. You need JavaScript enabled to view it
Website: www.dynamicwealth.ca

 
Benefits of Mutual Funds and How They Can Help You Make Money! PDF Print E-mail
Written by Kalson Jang   
Monday, 18 October 2010 20:32

Almost everybody has heard about Mutual Funds, but not everyone knows what Mutual Funds are and the benefits that they offer.

Mutual Funds are a portfolio of stocks that are professionally selected and managed to achieve a certain investment criteria.  Different Mutual Funds focus on different geographical markets and economic sectors.  Depending on what you’re interested in investing in, a variety of different Mutual Funds may be suitable for you.

The advantages of Mutual Funds over buying stocks yourself are as follows:

Professionally Managed - Mutual funds are professionally managed by someone whose sole job is to make smart investment decisions.  We’re all very busy people and although we may strive to do the best job we can when buying stocks, it is just not possible for us to research and monitor our purchases all the time with our busy schedules.  Also, professional fund managers have many sources of information that may not be accessible for the average investor.  Some fund managers actually sit on the board of companies their funds are invested in and have first-hand knowledge of the inner workings of the company.  In fact, many fund managers often take the time to visit the companies they’re investing in or interested in investing with.  In many cases, they have to fly across the world to visit companies you have never heard of to find the best investments.  This is the kind of knowledge and expertise that is just not possible for the average investor to have.  Even if you have this knowledge and expertise, it is definitely not practical for you to spend thousands of dollars to visit a company on the other side of the world!

Diversification - Mutual Funds are diversified, meaning they contain a number of different stocks.  It’s important to never be too concentrated in one stock as it opens you up to the possibility of “losing everything”.  No Mutual Fund will ever “lose everything” as the diversification of stocks reduces your risk dramatically.  To read more about Stock Diversification and how it can benefit you, please take a look at the link below for more information.
http://dynamicwealth.ca/index.php/home/28-diversification-a-must-for-every-investment-portfolio

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