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Trusted Regina Financial Advisors at Worby Wealth Management Talk Insurance Needs

Chris Worby and Jeremiah Worby are Trusted Regina based financial advisors and Wealth Management services providers servicing local Regina households and businesses. With over 20 years of experience, Worby Wealth Management has been committed to providing a high standard of financial service to individuals, families and business owners. Worby Wealth Management listens and provides a personalized financial plan.


Insurance Needs

by Jeremiah Worby

What will happen to you and your loved ones if something unexpected occurs?  Do you have contingency plans in place?  Being prepared for the unexpected is something that should be planned for.  Insurance isn’t always for everyone, but if the need arises, having something in place can help alleviate unwanted stress and burden.

Life Insurance

A very unfortunate statistic, but 100% of people eventually die.  Does that mean that you have to buy life insurance?  Well not necessarily.  Everyone’s situation is different.  It can depend on a variety of factors such as age, current and future financial circumstances, possible inheritances, considerations about how much you would like to leave loved ones, and funeral expenses, just to name a few.  


If you do decide that a need for life insurance exists, these are just some of the decisions that need to be considered:

  • Did you want a whole life policy or a term policy?

  • Did you need a joint policy with either first-to-die or last-to-die?

  • What amount of coverage should you get?

  • What monthly premium is reasonable?


Critical Illness Insurance

Critical Illness insurance exists for those who wish to sleep comfortably at night knowing they are covered in case a major medical emergency should ever arise.  Very few critical illness policies are the same.  Some considerations include:

  • Do I only want coverage for only the four major illnesses (life-threatening cancer, stroke, heart attack, coronary artery bypass surgery)?

  • Are there other conditions that I’d like coverage for (diabetes, Parkinson’s disease, multiple sclerosis, etc.)?

  • How much coverage do I need?

  • How long do I need coverage for?


Disability Insurance

If you’re employed at a high injury risk job, this is a serious consideration to take into account.  Disability insurance can provide protection against loss of income should you become disabled.  When disabled, as much as we’d love them to, your bills don’t just stop.
  • Check to see if you already have coverage through your employer so that unnecessary overlapping coverage isn’t purchased

  • Decide on how much coverage you would like to have

  • Calculate what your monthly expenses will be taking everything into account

  • Would you be willing to change jobs if need be?

  • Would you be willing to cut back on your current standard of living?


Find Out More

Whether you’re 20 years old or 50 years old, proper insurance planning is essential.  Contact Worby Wealth Management to assess your insurance needs today.


Some of the services that Worby Wealth Management can help you with: 

TRUSTED REGINA FINANCIAL ADVISOR Chris Worby from Worby Wealth Management helps you live your dream!


The comments contained herein are a general discussion of certain issues intended as general information only and should not be relied upon as tax or legal advice. Please obtain independent professional advice, in the context of your particular circumstances. This Blog was written, designed and produced by Jeremiah Worby and Chris Worby for the benefit of Jeremiah Worby and Chris Worby who are Financial Advisors at Worby Wealth Management, a registered trade name with Investia Financial Services Inc., and does not necessarily reflect the opinion of Investia Financial Services Inc. The information contained in this article comes from sources we believe reliable, but we cannot guarantee its accuracy or reliability. The opinions expressed are based on an analysis and interpretation dating from the date of publication and are subject to change without notice. Furthermore, they do not constitute an offer or solicitation to buy or sell any securities. Mutual Funds, approved exempt market products and/or exchange traded funds are offered through Investia Financial Services Inc.

Trusted Regina Financial Advisors at Worby Wealth Management Discuss Credit Ratings

Chris Worby and Jeremiah Worby are Trusted Regina based financial advisors and Wealth Management services providers servicing local Regina households and businesses. With over 20 years of experience, Worby Wealth Management has been committed to providing a high standard of financial service to individuals, families and business owners. Worby Wealth Management listens and provides a personalized financial plan.


Credit Ratings

by Jeremiah Worby

We’ve all heard the stories from someone we know (though we may or may not like that person) about having been a victim of some form of identity theft.  Identity theft can drastically affect your credit rating, and your credit rating affects almost everything in your financial world.


Whether you’re looking to apply for a credit card, take out or renew a mortgage, get a car loan, or want to borrow a million dollars from that loan shark down the street, your credit rating will greatly impact the interest rate which you might receive for such loans.



There are two major players in the credit rating world of Canada – those being Equifax and TransUnion.  You can, and we suggest you do, go to both these websites and sign-up for their free service to check your credit scores.



Equifax

Directly from their website, Equifax states:
“We are a global data, analytics, and technology company. We believe knowledge drives progress. Our unique data assets, technology and analytics transform knowledge into insights to power decisions that move people forward.”

Here’s a wonderful and short read [they claim it’s 2 minutes but I think it’s way more like 3 minutes :)] from Equifax about what impacts your credit score.

https://www.consumer.equifax.ca/personal/education/credit-score/what-impacts-credit-score/



TransUnion

Directly from their website, TransUnion states:

Our mission is to help people everywhere access the opportunities that lead to a higher quality of life. By helping organizations optimize their risk-based decisions and enabling consumers to understand and manage their personal information, we empower both to take their destinies into their own hands.”

Here’s a true 2 minute read from TransUnion about 5 factors that affect your credit score.

https://www.transunion.ca/what-affect-credit-score?



Find Out More

Whether you’re 20 years old or 50 years old, credit ratings are of utmost importance. Contact Worby Wealth Management to help fix your credit score and set you on the path to success!


Some of the services that Worby Wealth Management can help you with: 

TRUSTED REGINA FINANCIAL ADVISOR Chris Worby from Worby Wealth Management helps you live your dream!


The comments contained herein are a general discussion of certain issues intended as general information only and should not be relied upon as tax or legal advice. Please obtain independent professional advice, in the context of your particular circumstances. This Blog was written, designed and produced by Jeremiah Worby and Chris Worby for the benefit of Jeremiah Worby and Chris Worby who are Financial Advisors at Worby Wealth Management, a registered trade name with Investia Financial Services Inc., and does not necessarily reflect the opinion of Investia Financial Services Inc. The information contained in this article comes from sources we believe reliable, but we cannot guarantee its accuracy or reliability. The opinions expressed are based on an analysis and interpretation dating from the date of publication and are subject to change without notice. Furthermore, they do not constitute an offer or solicitation to buy or sell any securities. Mutual Funds, approved exempt market products and/or exchange traded funds are offered through Investia Financial Services Inc.

Trusted Regina Financial Advisors at Worby Wealth Management Share Expense Considerations After Retirement

Chris Worby and Jeremiah Worby are Trusted Regina based financial advisors and Wealth Management services providers servicing local Regina households and businesses. With over 20 years of experience, Worby Wealth Management has been committed to providing a high standard of financial service to individuals, families and business owners. Worby Wealth Management listens and provides a personalized financial plan.


Retirement Considerations

by Jeremiah Worby

One of the biggest financial questions on everyone’s mind is whether or not they will have enough money to retire. Not only do savings and investments need to be taken into the equation, income and expenses also need in-depth analysis.


Expenses


Will my daily coffees increase in price? Although I’m poking fun, inflation is a serious concern. Everyone’s expenses will clearly vary from one person to another, but some other considerations need to be taken into account, such as:


  • Will I be able to find work if needed?

    • If income falls short, will a new source of income be required?

  • Am I financially dependent on someone else?

    • Or is someone else financially dependent on me?

  • Do I plan on living in the same city upon retirement?

    • Costs of living can vary greatly from one city to the next

  • Have I taken into account inflation?

    • Will my entertainment and hobby expenses increase during my retirement years?

  • What if interest rates rise?

    • Will I be able to afford my home if rates rise?

  • Do I plan on living in the same home upon retirement?

    • Will I downsize?  

    • Is condo living a consideration due to limited mobility (that could mean increased expenses due to HOA fees)?

  • Do I have or need insurance?

    • What if something unexpected happens during retirement?

  • Do I have a will, power of attorney, health care directive in place?

    • Making sure all angles are considered and taken care of in your retirement years can help you live without unneeded stress


Find out more

Whether you’re 30 years away or just a few months from retirement, proper retirement planning is essential. Contact Worby Wealth Management to start planning your retirement today.


Some of the services that Worby Wealth Management can help you with: 

TRUSTED REGINA FINANCIAL ADVISOR Chris Worby from Worby Wealth Management helps you live your dream!


The comments contained herein are a general discussion of certain issues intended as general information only and should not be relied upon as tax or legal advice. Please obtain independent professional advice, in the context of your particular circumstances. This Blog was written, designed and produced by Jeremiah Worby and Chris Worby for the benefit of Jeremiah Worby and Chris Worby who are Financial Advisors at Worby Wealth Management, a registered trade name with Investia Financial Services Inc., and does not necessarily reflect the opinion of Investia Financial Services Inc. The information contained in this article comes from sources we believe reliable, but we cannot guarantee its accuracy or reliability. The opinions expressed are based on an analysis and interpretation dating from the date of publication and are subject to change without notice. Furthermore, they do not constitute an offer or solicitation to buy or sell any securities. Mutual Funds, approved exempt market products and/or exchange traded funds are offered through Investia Financial Services Inc.

Regina Financial Advisors John Barabe and Madison Schenher Tip On Printing Our Troubles Away

John Barabe and Madison Schenher understand that everyone's financial situation is unique and that managing your wealth can be complex and time-consuming.  they have has an unwavering commitment to quality and service which has enabled John to build and retain a successful practice in Regina. The team of Regina financial advisors and support staff believe that planning with honesty and integrity are cornerstones to improving their clients' quality of life. They apply their knowledge to help clients make the right choices when considering all the product and service options that exist in today's marketplace. In their latest Regina financial advisors expert article, John and Madison discuss currency, printing money and inflation. 



Can a government simply print more of their currency and distribute that “wealth” to the masses to make everyone rich? We know that is not true. If it were, the people in Germany would have been vastly rich in 1923. Instead, they were destitute1. The photo below is of kids playing with a worthless currency, and besides, that is a loaf of bread priced at 4.6 million marks, all from the most famous currency collapse in history. 


Even though this memory is very distant, and nearly all of those directly affected are no longer alive, to this day Germans are heavy buyers of gold and silver. If what was done over there (printing) is now being done here, what lessons, if any, can be learned?  

 

Over the last 2 years, governments around the world have printed on average $834 million dollars every hour of every day, with no end in sight2. The U.S. is printing more monthly than it ever has in history2. Oh, and we are told this inflation is temporary. Or is it? 

 

Let’s say the U.S. cannot stop printing. They are in a bind and believe that printing is the solution. It does seem to be the case considering their reaction has continually been to print for every crisis. If this is the case, they will water down the currency value quickly. Think about what is already happening. Commodities have been gaining value and that reflects inflation. Thinking of this another way, the dollar is losing value to commodities, so stuff gets more expensive. Either way, inflation rises. Higher inflation means investors need to be compensated. A GIC holder will want a higher rate to offset the higher inflation. Extreme debt levels held by people, companies and governments suddenly become more expensive to maintain as interest rates go higher. Can the government afford higher interest rates?



Let’s take the other side of this and say the U.S. stops printing. In order to keep interest rates low, they currently print to buy the bonds to keep the bond prices at their highest ever levels (and conversely interest rates at their lowest levels – the effect of overpaying for the bonds). They are printing very large amounts to purchase this debt. If they stop printing, this extremely large buyer would likely leave a void. With this significant drop in demand for the bonds, the price would also logically drop, and interest rates go up. But that is exactly what no one can afford. Governments included. 

 

There is another alternative. The U.S. stops printing and defaults on their bonds. Pension plans, mutual funds, individual investors and foreign investors all own these bonds. If the government were to default, all the bonds in all these portfolios would become worthless (or worth very little depending on how many pennies per dollar of debt they are willing or able to still pay). I highly doubt this would happen but must admit it is possible. I suspect based on the track record the U.S. has with printing (as do all the other countries of the world) they will continue. History is full of examples of governments continuing to print, and then when things get worse/inflation rises - print more, and so on. 

 

There are other troubling events taking place in addition to the incessant printing. Since the backing of the dollar was removed on August 15, 19713, gold and silver were replaced with military might. Use our dollar to sell your oil (or else). A deal was struck with Saudi Arabia and then the rest of the OPEC nations in 1974. This was crucial to creating demand for U.S. dollars. All oil must be sold in U.S. dollars, and the reserves invested into U.S. debt. Then we have your back (militarily speaking)4. Fast forward to 2021 and Biden suspends arms sales to Saudi Arabia3. The U.S. just pulled out of Afghanistan around the end of June. Then August 23rd Russia signs a deal with Saudi Arabia in a joint military “cooperation”3. So much for the nearly 50-year-old deal that the Saudi’s had with the U.S.! Saudi Arabia was always the principal country with the U.S. oil deal. The Russian deal is most likely military for oil and is unlikely to be in U.S. dollars.

 

Is the demand for U.S. dollars slipping away? Saudi Arabia is the largest OPEC oil-producing nation. That would create significantly less demand for the dollar. If Saudi Arabia no longer sells oil in U.S. dollars, that would likely open the flood gates for other OPEC nations to also sell in other currencies. This is a really big deal. If countries buying oil no longer need U.S. dollars, the demand for the dollar will drop, most likely along with the value. This will cause further inflation (maybe big inflation)! 

 

The U.S. has well past 28 trillion in debt7. The only way this is manageable is with interest rates near zero. If the dollar drops, the value in purchasing power of the bonds drops, even if the bond price were to stay high. The more they print, the weaker the dollar will become (logic) and the higher inflation will go. 

 

When we said manageable, we should correct ourselves. As of 2019, 75% of the U.S. budget was mandatory spending. This mandatory spending represented 95% of their total revenue. In 2020 for the first time in U.S. history, mandatory spending alone is greater than their total revenue.  Problems, where printing is the likely solution, are not confined to the U.S. We reported long ago about ghost cities in China 8


.  


 China’s largest real estate holding company Evergrande cannot make its payments (*9). Evergrande is 5 times the size of Lehman  (the U.S. bank that crashed the stock market in 2008). A number of other Chinese developers have now missed or delayed payments. Much more to this story than this short update allows.




 

Regardless of inflation and fundamentals that signal this could get worse, there are things you can do. Being aware of the dangers allows you to protect yourself and even profit from the opportunities they provide.

 - John Barabe, Madison Schenher and team.



 

https://historydaily.org/germany-hyperinflation

https://www.wsws.org/en/articles/2021/06/17/pers-j17.html

https://dailyreckoning.com/834-million-every-hour/  

http://www.jsmineset.com/wp-content/uploads/live/de1238cf49bc_6EAC/image0011.jpg

https://www.marketwatch.com/story/this-is-how-much-money-exists-in-the-entire-world-in-one-chart-2015-12-18

https://www.forbes.com/sites/rmiller/2021/06/24/government-deficits-the-debt-money-and-inflation/?sh=477248a42340

https://www.americanthinker.com/articles/2021/02/the_federal_reserve_is_taking_us_into_uncharted_and_deadly_waters.html

http://www.jsmineset.com/wp-content/uploads/live/0292cbb0d92f_68F9/image005.jpg  printing cartoon

https://www.zerohedge.com/economics/gundlach-warns-us-roadmap-losing-global-reserve-currency-status

https://www.youtube.com/watch?v=7_Xw5tWsOQo

https://www.breitbart.com/middle-east/2021/08/24/russia-saudi-arabia-sign-military-pact-amid-chaotic-us-withdrawal-afghanistan/

https://www.breitbart.com/middle-east/2021/01/27/report-biden-suspends-arms-sales-to-key-arab-allies-in-the-middle-east/

http://www.jsmineset.com/wp-content/uploads/live/c03799037f1d_902A/image0031.jpg

http://www.jsmineset.com/wp-content/uploads/live/c03799037f1d_902A/image0021.jpg

http://www.jsmineset.com/wp-content/uploads/live/Jims-Mailbox_93E3/image012.jpg

https://www.nytimes.com/1974/06/09/archives/milestone-pact-is-signed-by-us-and-saudi-arabia-acclaimed-by.html

https://citizentruth.org/the-secret-deal-that-formed-the-us-and-saudi-arabias-special-relationship/

https://schiffgold.com/key-gold-news/50-years-ago-nixon-slams-shut-the-gold-window/

https://usdebtclock.org/

https://www.ndtv.com/offbeat/why-china-has-over-50-ghost-cities-2032322

https://usnewsrevolution.com/evergrande-is-collapsing-will-not-make-its-massive-debt-payments/

https://www.asiapacific.ca/asia-watch/massive-chinese-real-estate-company-verge-collapse

https://www.btimesonline.com/articles/151365/20210914/analysis-chinas-house-of-cards-evergrande-threatens-wider-real-estate-market.htm

https://www.zerohedge.com/markets/china-braces-nightmare-scenario-evergrande-offers-broke-investors-discounted-apartments

10 Posted September 15th, 2021 at 8:56 AM (CST) by Bill Holter & filed under Jim's Mailbox in https://www.jsmineset.com/.

11 https://charleshughsmith.blogspot.com/2021/09/ministry-of-manipulation-no-wonder.html

12 https://www.scmp.com/business/banking-finance/article/3152146/evergrande-china-faces-challenging-trade-offs-addressing

12 https://finance.yahoo.com/news/evergrande-crisis-developer-modern-land-093000822.html

12 https://www.youtube.com/watch?v=elpBYWvmmJA&t=476s

 

I am sending this out as material information to keep everyone informed. This is not a solicitation for any investment. Before making any investment decision, please contact us for professional investment advice through our extensive planning process. This is only meant to provide perspective and update you as best as I can from the extensive ongoing research that we do. 

The opinions expressed within this article/communication are those of the Financial Advisor and are not necessarily those of Keybase Financial Group Inc. Any data provided is for illustration purposes only. Clients and prospective clients should always read a product prospectus and fully understand all of the risks associated with the product before purchasing. Any information relating to the discussion of taxation issues is considered to be only general in nature. Clients should seek a qualified tax professional to discuss their specific tax requirements.

Third-party publications are not prepared by Keybase Financial Group Inc. The opinions, estimates and projections contained in the publication are those of the author as of the date indicated and are subject to change without notice. Keybase Financial Group Inc. makes no representation or warranty, express or implied, in respect thereof, takes no responsibility for any errors or omissions which may be contained therein and accepts no liability whatsoever for any loss arising from any use of or reliance on the report or its contents. The provision of this publication is not to be construed as an offer to sell or a solicitation for or an offer to buy any securities.

Keybase Financial Group Inc. is a member of the MFDA and is a member of the MFDA IPC.

 

Regina Financial Advisors John Barabe & Madison Schenher Share A Boom Bust Report

John Barabe and Madison Schenher understand that everyone's financial situation is unique and that managing your wealth can be complex and time-consuming. They have an unwavering commitment to quality and service which has enabled John to build and retain a successful practice in Regina. The team of Regina financial advisors and support staff believe that planning with honesty and integrity are cornerstones to improving their clients' quality of life. They apply their knowledge to help clients make the right choices when considering all the product and service options that exist in today's marketplace. In their latest Regina financial advisor expert article, they share information on investment strategies and how to keep up with the pace of inflation.

It Begins!

 

In December, Michael Oliver wrote that 2022 will be one for the record books. January 9th title was “seat belts.” January 23rd, “it begins.” 

 

He had been alluding to this break in the Nasdaq (NDX 100 Index). Well, we got it. 


   

 #1.


Keep in mind how important it is for this market to be breaking down. This is the infallible U.S. stock market that only goes up. The run-up has been fueled by printed money to such an extent that it is the longest and most overpriced ever (by many measures). 

 

What is the reaction to this event? The U.S. central bank (the Fed) has been clear with its intention to raise interest rates and stop printing in short order (ha). IF THEY DO: then the decline of the stock market is likely to continue until markets finally buckle. What is more likely is the Fed will cave soon and do what they can to “rescue” the stock market. This means even more printing and doing what they can to keep interest rates low. 

 

This industry still believes that bonds will save you from your stock losses (balanced approach). As you all know, printing is what causes inflation. Inflation is getting ugly, and if the reaction is to print more and more, inflation is going to get worse. Their “rescue” is causing the problem. The higher inflation goes, the more investors in GIC’s, term deposits, and bonds will need to be compensated. The most extreme low-interest rates in human history caused the “everything bubble” (stock, bond, and real estate) that we are in. Higher interest rates, forced by inflation, will pop that bubble. 

 

We have been making clients aware of this and carefully constructed portfolios with all the above in mind. If you have any questions, please feel free to reach out to us.

 

Thank you for reading this article. We would like to offer you a value-added service for your time. We will make ourselves available to act as a sounding board. Please understand, you do not need to become a client to take advantage of this service. The reason we do this is that we became financial advisors to help people make informed choices with their financial future. It’s very gratifying. One of two things typically occurs when going through this process; either we validate for you that your current approach is fundamentally solid, or we reveal a few minor flaws that you might want to consider adjusting.  As you know, minor adjustments can often lead to major improvements down the road. Either way, we will make ourselves available and ensure that this is a great investment of your time.


We are sending this out as material information to keep everyone informed. This is not a solicitation for any investment. Before making any investment decision, please contact us for professional investment advice through our extensive planning process. This is only meant to provide perspective and update you as best as I can from the extensive ongoing research that we do.

The opinions expressed within this article/communication are those of the Financial Advisor and are not necessarily those of Keybase Financial Group Inc. Any data provided is for illustration purposes only. Clients and prospective clients should always read a product prospectus and fully understand all of the risks associated with the product before purchasing. Any information relating to the discussion of taxation issues is considered to be only general in nature. Clients should seek a qualified tax professional to discuss their specific tax requirements.

Keybase Financial Group Inc. is a member of the MFDA and is a member of the MFDA IPC.

 

#1.https://www.marketwatch.com/investing/index/ndx?mod=over_search


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