RBC Financial Planning Tips, Facts and B.C. Media Contacts for National Financial Planning Week

WHICH… are the 5 financial concerns that are top of mind in B.C.?

1. Should I pay down my mortgage or invest in my RRSP?
2. I can't afford to save in both an RRSP and a TFSA – how do I know which one is right for me?
3. When can I afford to retire?
4. I have a Will, why do I need an estate plan?
5. How can I help ensure my elderly parents are well cared for, financially and emotionally?

WHAT… are the 5 top tips RBC Financial Planning has for people in B.C. to help them manage their finances?

1. Pay yourself first – this continues to be a simple but very effective approach to saving.
2. Have a financial plan that you can share with your family and Financial Planner to help determine the best way to reach your goals.
3. Review your financial goals on a regular basis and revise them as your life changes (marriage, children, yearly income, retirement).
4. Reduce your most expensive debts as much and as quickly as you can.
5. Learn about tax-saving options – RRSPs, TFSAs, RESPs, RDSPs – and make regular contributions to the tax-savings options that are best for you.

HOW… many people in B.C. have RRSPs and TFSAs?

• 60 per cent have RRSPs (compared to 59 per cent nationally)
• 53 per cent have TFSAs (compared to 54 per cent nationally)

WHO… can B.C. media talk to about financial planning advice?

• Jayelene Catala, Financial Planner, Vancouver, B.C.
  RBC Financial Planning

WHERE…can B.C. media find more information?

• Please contact Ian Colvin, Senior Manager, Communications, RBC
  ian.colvin@rbc.com or 604-665-4031

SOURCE RBC
Information provided by CNW Group

Navigating with a REALTOR® - Your REALTOR® can help you:

• Navigate the home buying process and paperwork from start to finish, ensuring everything flows smoothly without any surprises.
• Find the right home, in the neighbourhood you want, at a price you can afford.
• Compare your property with similar properties that have sold over the past year.
• Get a feel for the neighbourhood including schools, parks and other amenities.
• Find out if you are eligible for government homeownership incentive programs.
• Assess mortgage products and different types of lenders to see what fits your needs.
• Negotiate purchase price and contract terms, such as date of possession, required repairs, included furnishings or equipment.
• Direct you through complex contracts.
• Find qualified industry professionals, such as real estate lawyers, home appraisers and home inspectors.
• Plan for closing costs and other related expenses

Information supplied by the Canadian Real Estate Association

RE/MAX Commercial Investor Report 2014

Click here to view report

Canadian Employment Figures - October 10, 2014

BCREA ECONOMICS NOW

Canadian Employment - October 10, 2014

The Canadian labour market broke out of its summer slumber, adding 74,000 jobs in September, nearly all of which were in full-time employment. Total hours worked, which is closely associated with economic growth, rose 0.3 per cent and the national unemployment rate fell 0.2 points to a 6 year low of 6.8 per cent.

The BC economy saw employment grow by 9,600 jobs in September. Moreover, recent losses in full-time work were overturned as full-time employment grew by 20,600 while part-time employment declined by 11,000. The provincial unemployment rate remained unchanged at 6.1 per cent. Year-to-date, employment in BC is up just 0.6 per cent.

For more information, please contact:

Cameron Muir
Chief Economist
Direct: 604.742.2780
Mobile: 778.229.1884
Email: cmuir@bcrea.bc.ca

Brendon Ogmundson
Economist
Direct: 604.742.2796
Mobile: 604.505.6793
Email: bogmundson@bcrea.bc.ca

The British Columbia Real Estate Association (BCREA) is the professional association for more than 18,500 REALTORS® in BC, focusing on provincial issues that impact real estate. Working with the province’s 11 real estate boards, BCREA provides continuing professional education, advocacy, economic research and standard forms to help REALTORS® provide value for their clients.

Real estate boards, real estate associations and REALTORS® may reprint this content, provided that credit is given to BCREA by including the following statement: “Copyright British Columbia Real Estate Association. Reprinted with permission.” BCREA makes no guarantees as to the accuracy or completeness of this information.

What are Buyers Looking For?

What features of your home are buyers most looking for? What should you highlight that will really get potential buyers excited? Check out this video from the Re/MAX Fit To Sell series that helps you identify what it is about your home that buyers want the most. Thinking of selling? We can help! Check out www.gelderman.ca for more info!