Bobby Hayes has been ministering to the inner city children of Saint John for over 17 years. In accepting his $25,000 grand prize for winning the “Champions of Change” award, Bobby told CBC host Mark Kelley that he was “surprised” and that “it wasn’t too long ago I couldn’t get a box of Fruit Loops”. Despite the fact that he was feeding over 100 children on a weekly basis, he struggled to get local support for his cause.

The Joshua Group is in need of a home having been evicted from the delapidated church they were using as a home base when the building was sold. This is a huge loss to them, and their temporary location is not filling the need. Now is the time for the citizens of Saint John and New Brunswick to thank Bobby for the work he has done. Let’s pay it forward, and show him we too can be Champions of Change. Let’s raise a roof.

I have a dream. We come together as a community and build it. Churches, businesses, unions, service clubs, citizens…Saint John’s own version of Extreme Makeover Home Edition. There…I’ve said it…now it WILL happen!!!

I’ve decided to take a different path this year. Instead of making resolutions, I am simply going to try to be the best I can be each and every day. The best wife, mother, grandmother, sister, daughter, friend, co-worker, advisor and mentor.

If each and everyone of us did the same, we could literally change the world. A change begins with us. How simple, yet how powerful!!!!

May God bless you, and may you find heaven on earth in 2011.

Kathy

Life is not without challenges.  It’s how we handle those challenges that determines the outcome.  I’ve always prided myself in being a glass half full type  of person rather than a glass half empty.

How do you handle challenges?  Are you the type of person who embraces change?  With change comes the opportunity for growth and personal development.  A new beginning, a brighter future.

Food for thought this morning, ask yourself…do you see the world through rose coloured glasses?

I’m as guilty as the next person of having credit card debt, and spending money on things that I could do without.  My goal for the new year is to spend more time managing my own personal finances.

I’m proud to say that other than a delicious cappuccino at the Red Whale  last night, I’ve been brewing my own coffee at home and  taking a thermal mug to work every day.  Two coffees a day at $1.75 each is a whopping $70 a month, not including weekends.  I’ve packed a brown bag lunch every day this week and have not eaten out since Boxing Day.   $6 per day on lunch is $30 per week or $120 per month.   Add the occasional dinner out and that total could well exceed $200 per month.

In early December we decided to downgrade our digital cable to basic and are saving over $60 a month.  The next item we’ll tackle is our cell phone bill.  And then there’s the $50 monthly gym membership I’ve been paying for but not using.   When you really sit down and look at where your money goes, it’s a real eye opener.

But cutting back is not enough,  the best part is what you can do with that savings.  We’ve decided to open a Registered Education Savings Plan for our 2 year old grandson.   That will allow us to turn a $200 a month contribution into $240 in savings using the Canada Education Savings Grant.   Now if we can only get him toilet trained, we can turn the $40 a month spent on diapers into education savings too!!!

For more information on RESPs visit this website  or better yet, ask me how to get one started for your child or grandchild today.   http://www.hrsdc.gc.ca/eng/learning/education_savings/index.shtml

Establishing healthy spending and saving habits, and maintaining them throughout a lifetime, is as important to one’s well-being as proper nutrition and regular exercise. This is the concept of financial wellness, defined as the ongoing practice of striking a balance between living responsibly today and planning wisely for tomorrow.

How does it work? Start by understanding that financial wellness is not about money; it’s about decision-making.   And all too often, a  bad decision or an unfortunate event can lead to unhealthy finances.

We all know how important it is to seek out medical attention when we are not physically or emotionally well.  But do we treat our financial health the same way?  Do we go for annual checkups?  Do we seek out a specialist or a second opinion when something is not right?

Instead of sweeping your money problems under the rug, take control of them today.  If you’re struggling with debt, there is help.  Consolidate your credits cards, negotiate a lower rate or seek credit counselling.  If you have no or very little savings, start paying yourself first.   There are some excellent savings programs to be taken advantage of.  If you are worried about your investments, make an appointment with your advisor to review your portfolio and discuss your concerns.    Make sure you have adequate insurance protection in the event of a job loss, illness or death.  If you don’t have a will, make it a priority to have one drawn up as soon as possible.

I challenge you to begin your financial wellness program today.  Get on the savings treadmill and start burning those spending calories.  And stay tuned, I will be providing coaching and advice to get you financially fit.

As I reflect back on the last ten years I have so very much to be thankful for.  I want to take the opportunity to acknowledge the special people who have made these last ten years the best of my life.

My husband Paul – without your love and support I would not be who I am today.  My wonderful children – my wish for you is that you find your soulmates and live life happily ever after.   My grandson Dominic – you bring so much joy into our lives, I can’t imagine life without you.  Nana  Bourgeois -  although it’s been ten years since you left us, you are with me every day- you are the wind beneath my wings.  Kathy & Rheal – we have laughed and cried together , shared memories and cabins – your friendship is priceless, and I look forward to growing old with you, it only gets better.  Tom & Sharon – thank you for being such good friends, for the wonderful cruising memories and for opening your hearts & home to these crazy Canadians.  Jeff & Debbie, Karen & Darcy - true friendship is when years pass between visits and you can pick up exactly where you left off – we need to get together more often.   To our wonderful friends at the Renforth Boat Club – George & Sharon, Paul & Donna and the rest of the Friday Night Happy Hour Crew – here’s to sunny skies, gentle breezes and calm seas.  Mitchum – you have touched our hearts in a special way – I hope we get to see you again some day soon. Larry – thank you for choosing me to be part of the Gateway adventure,  I look forward to our success and prosperity.  To all my clients – thank your for choosing me as your trusted advisor, you are very important to me and I look forward to helping you achieve your goals & dreams.

And last but not least a very special thank you to everyone who supported me through my battle with breast cancer. 2010 is the year I celebrate five years as a survivor.  Your prayers, kindness, love and support are what got me through the difficult days.   You showed me the true meaning of christianity and I am eternally grateful.

Happy New Year and may 2010 bring you happiness, health and prosperity!!!

Kathy

I have to be perfectly honest and say that I truly long for a simpler way of life, and look forward to the day when we spend Christmas away from the hustle and bustle that this holiday has turned into.    A Christmas with no commercialism, where all that truly matters is being with the people you love.   Where small gifts are exchanged as tokens of affection, not something to display under a tree for others to see.   Where food and drink are shared and happiness flows everywhere.  Where the best present is a smile, and where the true meaning of the day is remembered.

That is my Boxing Day wish, and God willing, that’s the way our family will celebrate Christmas next year.

This year is going to be a very special Christmas for us.  We get to see it through the eyes of our 22 month old grandson, and we get to introduce him to the traditions that his daddy grew up with.   It will start on Christmas Eve with him sitting on Papa’s lap listening to The Night Before Christmas.   We’ll set out milk and cookies for Santa before tucking him into bed.

Some of my favorite holiday traditions are Christmas Eve mass, watching “It’s A Wonderful Life”,  coffee with eggnog on Christmas morning,  and making Nana Bourgeois’ fabulous dressing (is it dressing or stuffing???).

Christmas memories are wonderful.   As the years go by, new people come into your life,  new traditions are enjoyed and memories continue to be made.  I am thankful for all that is good in my life, and for all of you that share it with me.  My Christmas wish for you is that you are blessed with the gifts of love, health and happiness,  that you treasure the moments you spend with family and friends, and that you keep the spirit of Christmas in your heart every day of the year.

Love, Kathy

The good news is that there is a way to turn some of those horrendous paper losses into something that can save you money at tax time, as long as a few simple rules are followed. But there’s not much time to claim those losses and have them count for 2009.

You can unload your sagging investments and help out your tax situation by taking advantage of tax-loss selling. Tax-loss selling is essentially selling an investment at a loss with the intention of taking that loss and applying it to realized capital gains.

If you’re selling investments this year and have capital losses, you can apply them to capital gains realized in 2009 to save tax. Any leftover losses can be used to offset capital gains and related tax of the past three calendar years (2006, 2007 and 2008). Be sure to do your trades well before year-end to ensure they’re completed this year.

If an investor has realized capital gains in his or her portfolio at any point during the year, they’re going to be paying capital gains tax on those realized gains. By taking those losses, they can offset those capital gains and pay less tax come next April.

Here’s an example.  Let’s assume an investor owned 100 shares of Widget Inc. which he purchased for $15 a share.  The global market meltown pushed Widget shares down to penny stock status by late June.

If our unlucky investor had unloaded those battered Widget shares at $1, he or she would have triggered a $1,400 capital loss which could then be applied to realized capital gains.

Investors should also be aware of the “superficial loss rule”. That rules states that if an investor, their spouse or a company they control buys back a stock or mutual fund within 30 days of selling it, then a capital loss cannot be claimed for tax purposes. Failure to adhere to the 30-day rule, and the capital loss will be disallowed.

There are some ways around that 30-day rule. If you decide to sell your shares to incur a capital loss, but decide the sector is poised for a rebound, you could buy a exchange-traded fund or mutual fund to keep the same investment characteristics in your portfolio. Or you could buy shares in another company that’s in the same business.

Also, if you sell shares in your unregistered trading account to trigger a tax loss, you can repurchase those same shares immediately in your  RRSP or TFSA account. The superficial loss rule will not apply because your unregistered trading account and your RRSP or TFSA are considered separate tax entities.

In this case, just be sure not to directly transfer your shares inside your registered account. A capital loss cannot be claimed here. The transfer must be executed as a buy and sell.

For tax purposes the critical date is the settlement date. This means if you want to realize a loss for 2009 you must ensure that your trades settle in your account no later than December 31^st. For stock and mutual funds, this means that the last selling date for the year is December 24th.  If you think this is a strategy you could benefit from, contact your advisor today.