Werner C. Duever

Financial Security Advisor
Investment Representative
Freedom 55 Financial

Blog Posts

The nasty b-word

Recently my clients, Jack and Jill, told me they were having trouble paying down their mortgage and wanted help putting a plan together to get back on track and saving for what’s important to them.

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Speed bumps to financial freedom

Have you ever thought about accumulating enough wealth to generate an income stream that will allow you to stop working? Perhaps you feel inadequate or don’t believe you deserve to be free from needing to earn a paycheque. Thoughts of I’m not worthy! I’m not worthy! run though your head. Well, I’m here to say you are worthy of financial independence and living the life you have always dreamed of.

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Spring financial health checkup

Living up to my title as Financial Security Advisor means making sure my clients receive the advice they need to help them become financially secure. This includes helping them plan for major events like buying a home, sending the kids to college and retirement. It also means helping them prepare for life’s unexpected events such as job loss, illness or disability.

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Seven Stages of Financial Health

Financial independence is generally used to describe the state of having sufficient personal wealth to live, without having to work actively for basic necessities. For financially independent people, their assets generate income that is greater than their expenses.

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Do this first and help build your wealth

You work hard for your money and what do you have to show for it? Why not put some money away for the day you would like to slow down or not have to work so hard. One of the best saving philosophies that I could share with you is called “pay yourself first”. Why not reward yourself for working so hard by building your own nest egg? Did you ever wish you could escape the 9 to 5 and the daily grind? Well, there is a way out and it is easier than you think.

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How to have your new car without jeopardizing your retirement

I love new cars but what I’ve learned is these glittering pieces of steel – if you cannot afford to pay with cash – can be detrimental to your future financial well-being. I’m not saying you can’t own a new car. I’ve owned a number of new cars myself and love the thrill of being one of the first to own the latest engineering marvel on four wheels.

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How to leave less to the government and more to your loved ones

Death is not something most people enjoy talking about. But the reality is, that someday we all have to go. And we can’t take our hard earned money and possessions with us. It’s going to go to someone. Most of us hope that our wealth will be passed on to our families – or perhaps go to a cause that we believe in. Taxes and estate laws in Canada being what they are, however, a good portion of your estate could go to the government instead.

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The secret sauce to a good financial security plan

Putting a good financial security plan together is like building a puzzle. A proper plan includes insurance and investments. My wife and I have built businesses in London, Ontario that generate income and in case something happens to either one of us we would like to make sure that we can maintain our savings and our way of life.

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The day I discovered critical illness insurance

In 2008, when I started working as a financial security advisor and investment representative at Freedom 55 Financial in London, Ontario, I discovered the importance of owning individual critical illness insurance. It took a few years for me to really learn about the importance of having the coverage before an illness occurs.

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TFSA – what is it good for?

As long as I can remember Canadians have had income tax deducted from their paycheques. Taxes are a way of life and it’s hard to avoid them, whether you’re buying food, filling your car with gas or buying a stove. However, now Canadians have a new way to lower their tax burden and keep more cash in their pocket. Unlike a bank savings account where you pay tax on the growth in a tax-free savings account (TFSA) your growth is not taxed – more money for you.

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Think income stream

You’ve already set up your passive income stream (not government or company-funded) to pay all your bills and vacations and you’re enjoying a cool beverage while sitting on the beach in some exotic location. You don't have to go back to work, however, you do because you love the work you do now more than ever and you aren’t pressured to earn a paycheque.

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10 steps to achieve financial independence

Remember what it was like to be a child in London, Ontario when you could dream of being anything you wanted? You didn't set limits on your dreams. You believed anything was possible. Then you got in the rat race and lived for weekends and perhaps two weeks of holidays a year. Do you love the work you do or would you rather do something else? There is a better way. You could achieve financial independence and do the work you always dreamed about.

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My debt free journey

When I was young, I didn’t have a worry in the world. My parents were good providers and all my needs were taken care of. We always had good vacations in the summers and we owned a snowmobile when we lived in northern Ontario, and my parents got me a ski membership when we moved to London. In the ‘80s my father bought a sailboat, so summers were now filled with sailing adventures.

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Wills, Powers of Attorneys and Executors

Welcome to fall and cooler weather. At least the trees bring colour. It’s time to think about midterm exams for students and preparations for the holiday season. It’s time to prepare the cars and home for the cold weather and bring out the warmer clothing. It’s time for winter kale from our backyard garden. Mmmm . . . kale shakes!

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