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Face your future with optimism

No matter what financial challenges you face – whether it’s debt, limited savings and investments, or lack of life insurance — they can be resolved successfully. By providing you with a better understanding of your financial situation and access to products and solutions that are appropriate for your specific goals, your WFG associate can help you achieve your dreams.

Common Challenges
WFG believes that having a solid understanding of the challenges families and individuals throughout North America face is an important first step to overcoming them.
  • Credit Card Debt & Poor Savings
  • Cost of College
  • Retirement Savings
  • Social Security
  • Rising Cost of Living
  • Unexpected Loss
Credit Card Debt & Poor Savings

If you have high credit card balances, little to no savings and no understanding of how much savings is enough, you are not alone.
In a recent survey by BankRate.com, nearly 30 percent of Americans say they have more credit card debt than emergency savings; and some 17 percent report having neither emergency savings nor credit card debt.1
TransUnion’s quarterly analysis of Canadian credit trends found that the average consumer’s total debt (excluding mortgage) in Q4 2013 increased to $27,368.2
Too much credit card debt and limited savings can be major threats your family’s current and future prosperity. Since consumer debt can have a negative impact on your future, you have to find ways to avoid it or eliminate it, so that you can build an emergency fund and start saving for your future.

1. Constantine von Hoffman, “Close to half of Americans have more credit card debt than savings,” MoneyWatch, Feb.18, 2014, http://www.cbsnews.com/news/51-percent-have-enough-cash-to-pay-off-credit-card-debt-study/.
2. TransUnion, “Delinquency Rates Drop as Consumer Debt Surprisingly Remains Nearly the Same During Fourth Quarter,” Press release, Feb. 26, 2014, http://newsroom-en.transunion.ca/article/?id=1812220.

Cost of College

If you’re a parent, you’re probably aware that the cost of a college degree has been increasing steadily, year after year, throughout North America.
In the United States, the cost (tuition, fees, books, room and board, and other expenses) for an in-state public college for the 2013–14 academic year averaged $22,826; while the cost of private college averaged $44,750..1
Similarly, in Canada, the cost of a university degree is increasing, with tuition and other compulsory fees expected to triple from 1990 to 2017.2
Trends like these are likely to persist. So you have to start planning for your children’s education now, even as you continue to meet your day-to-day expenses and save for retirement.

1. The College Board, Trends in College Pricing, 2013, p. 11, https://trends.collegeboard.org/sites/default/files/college-pricing-2013-full-report-140108.pdf.
2. CBC News, “University tuition rising to record levels in Canada,” Sept. 11, 2013, http://www.cbc.ca/news/canada/university-tuition-rising-to-record-levels-in-canada-1.1699103.

Retirement Savings

Many people face an uncertain retirement. According to a recent study, many U.S. workers say they have virtually no savings or investments. Excluding the value of their home and defined benefit plans, 60 percent of the workers surveyed say their household savings and investments is less than $25,000.1
In Canada, although more people are making contributions to their RRSPs, three-quarters (77%) of those with RRSPs indicate they won’t be making the maximum allowable contribution in 2014.2
It may be because they do not know how much money they need to save to cover their expenses once they stop working; or they may not earn enough income to start saving.
Today, people face a different retirement reality. The traditional model that saw your parents or grandparents through their golden years – a company pension, a government-sponsored savings plan like Social Security or the Canadian Pension Plan, and their own personal savings – is in upheaval. There are fewer companies offering pensions and government programs are uncertain. Now, people who want a secure retirement have to rely more heavily on their own personal savings.

1. “The 2014 Retirement Confidence Survey: Confidence Rebounds—for Those With Retirement Plans,” By Ruth Helman, Greenwald & Associates; and Nevin Adams, J.D., Craig Copeland, Ph.D., and Jack VanDerhei, Ph.D., March 2014, p.15, http://www.ebri.org/pdf/briefspdf/EBRI_IB_397_Mar14.RCS.pdf.
2. RBC, “RRSPs rebound: more Canadians holding RRSPs, making contributions, says RBC Poll,” Press release, Feb. 5, 2014, http://www.rbc.com/newsroom/news/2014/20140205-wave2-rrsp.html.

Social Security

In the United States, Social Security may not be a reliable source of income in the near future. According to recent projections,1 the program’s key trust fund will be depleted by 2035. That’s why you have to plan for the possibility that you may receive partial Social Security benefits when you retire – or none at all.

1. The 2013 Annual Report of the Board of Trustees of The Federal Old-Age and Survivors Insurance and Federal Disability Insurance Trust Funds, p. 3, http://www.socialsecurity.gov/OACT/TR/2013/tr2013.pdf

Rising Cost of Living

Did you know the amount of money you earn today will have less value tomorrow, and even less 20 years from now? Have you considered the rising cost of
living in your financial strategy? To show how this can affect you, take a look at the following example:
If you and your spouse are each 45 years old, earn $100,000 per year and plan to retire in 20 years, and if inflation averages 4.5% during the next two decades, you will need more than $241,000 a year to equal your current $100,000 annual income.

Unexpected Loss

What if you were to pass away unexpectedly? Without proper planning – whether through life insurance and/or emergency savings – your family could face serious financial issues due to funeral costs, credit card bills, and more. Proper insurance coverage can help you guard against the impact of such losses.

How We Can Help
At WFG, we don’t believe in “one size fits all.” Your licensed WFG associate offers a broad array of solutions from many well-known providers, and works together with you to determine the best strategy based on your needs.
  • Life Insurance
  • Annuities
  • Critical Illness Insurance
  • Disability Insurance
  • Long-Term Care
  • Mutual Funds
  • Segregated Funds (Canada)
  • Group Insurance (Canada)
  • Business Solutions
  • College/Post-Secondary Education Funding
  • Investment Advisory Services
  • Financial Needs Analysis
Life Insurance 1

Since different people have different financial needs, licensed WFG Associates offer a variety of life insurance policies to help meet your financial goals. Some policies feature premiums that remain constant for the life of the policy. Cash value policies allow you to access the policy value once it is sufficient through policy loans or withdrawals.

In the United States a variable universal life insurance2 policy combines permanent life insurance with investment options. The policy owner may direct net premiums to a variety of investment options to match his/her investment objectives. These account options have the potential to build cash value over time. However, the return and principal value of the investment options will fluctuate and when redeemed, they may be worth more or less than their original cost.

Policy loans and withdrawals reduce the cash value and death benefit and loans are subject to interest charges. If a policy is surrendered or lapses while a loan is outstanding, adverse tax consequences may result. Consult with your tax advisor regarding the effect of policy loans and withdrawals for your particular situation.

Be sure that you’re aware of and understand the several different fees and charges associated with different types of life Insurance policies.

Speak to your licensed WFG associate, who can help you determine which type of life insurance you need and the optimal coverage level.

1 In the United States, insurance products are offered through World Financial Group Insurance Agency, Inc., World Financial Group Insurance Agency of Hawaii, Inc., World Financial Group Insurance Agency of Massachusetts, Inc., World Financial Group Insurance Agency of Wyoming, Inc., World Financial Insurance Agency, Inc. and/or WFG Insurance Agency of Puerto Rico, Inc.
California License # 0679300
In Canada, life insurance products (including Segregated Funds) are offered through World Financial Group Insurance Agency of Canada Inc.
2 In the United States, securities are offered through Transamerica Financial Advisors, Inc. (TFA), Transamerica Financial Group Division Member FINRA, SIPC, and Registered Investment Advisor. Non-Securities products and services are not offered through TFA.
Tax and/or legal advice are not offered by World Financial Group Inc., World Financial Group Canada Inc, their affiliated companies or their independent associates. Please consult with your personal tax and/or legal professional for further guidance.

Annuities 1

Annuities can be an appropriate addition to your retirement portfolio, providing income when you decide to annuitize them. To help you achieve your goals, WFG offers a variety of different annuity products to choose from:

  • Immediate Annuities
  • Equity Indexed Annuities (available only in the United States)
  • Variable Annuities (available only in the United States) 2

Let your WFG licensed associate help you determine if annuities are right for you.

In the United States, withdrawals from annuities prior to age 59 ½ are subject to a 10% tax penalty and surrender charges apply during the first several years.

1In the United States, insurance products are offered through World Financial Group Insurance Agency, Inc., World Financial Group Insurance Agency of Hawaii, Inc., World Financial Group Insurance Agency of Massachusetts, Inc., World Financial Group Insurance Agency of Wyoming, Inc., World Financial Insurance Agency, Inc. and/or WFG Insurance Agency of Puerto Rico, Inc.
California License # 0679300
In Canada, life insurance products (including Segregated Funds) are offered through World Financial Group Insurance Agency of Canada Inc.
2 In the United States, securities are offered through Transamerica Financial Advisors, Inc. (TFA), Transamerica Financial Group Division Member FINRA, SIPC, and Registered Investment Advisor. Non-Securities products and services are not offered through TFA.

Critical Illness Insurance 1

Do you have enough savings to cover medical expenses if you or a loved one were to suffer a catastrophic illness, such as cancer, a heart attack or stroke? Critical illness insurance can provide needed financial resources if you or your loved one gets a serious ailment. This type of insurance can help pay for any out-of-pocket medical as well as non-medical costs…

Your WFG licensed associate can help you decide if purchasing critical illness insurance is a good option for you and your family.

1In the United States, insurance products are offered through World Financial Group Insurance Agency, Inc., World Financial Group Insurance Agency of Hawaii, Inc., World Financial Group Insurance Agency of Massachusetts, Inc., World Financial Group Insurance Agency of Wyoming, Inc., World Financial Insurance Agency, Inc. and/or WFG Insurance Agency of Puerto Rico, Inc.
California License # 0679300
In Canada, life insurance products (including Segregated Funds) are offered through World Financial Group Insurance Agency of Canada Inc.

Disability Insurance 1

Would your family be able to make ends meet if you couldn’t work due to an accident or illness? Disability insurance can cover you even after your employer’s coverage has run its course. Additionally, it helps keep your existing saving and investments intact and earning interest in the event you find yourself unable to work.

Talk to your WFG licensed associate to find out if disability insurance is right for you.

1In the United States, insurance products are offered through World Financial Group Insurance Agency, Inc., World Financial Group Insurance Agency of Hawaii, Inc., World Financial Group Insurance Agency of Massachusetts, Inc., World Financial Group Insurance Agency of Wyoming, Inc., World Financial Insurance Agency, Inc. and/or WFG Insurance Agency of Puerto Rico, Inc.
California License # 0679300
In Canada, life insurance products (including Segregated Funds) are offered through World Financial Group Insurance Agency of Canada Inc.

Long-Term Care 1

Many people don’t take into consideration the very real possibility that, at some point, they will require long-term care. Although it’s assumed that long-term care is only needed in the latter part of a person’s life, diseases such as Parkinson’s and serious illness from a stroke or heart attack can also cause a need for these types of services.

It pays to be ready in the event that you or someone you love will need help performing basic tasks of daily living. When setting your financial strategy and goals, talk to your WFG licensed associate to see if long-term care insurance is an option for you.

1In the United States, insurance products are offered through World Financial Group Insurance Agency, Inc., World Financial Group Insurance Agency of Hawaii, Inc., World Financial Group Insurance Agency of Massachusetts, Inc., World Financial Group Insurance Agency of Wyoming, Inc., World Financial Insurance Agency, Inc. and/or WFG Insurance Agency of Puerto Rico, Inc.
California License # 0679300
In Canada, life insurance products (including Segregated Funds) are offered through World Financial Group Insurance Agency of Canada Inc.

Mutual Funds

Mutual funds* enable you to pool your money with other individual investors to purchase stocks, bonds or other assets. Together, you share the potential risks, rewards and expenses of whatever investment strategy you choose. Every mutual fund has a professional money manager who is responsible for researching, selecting and monitoring the performance of the fund’s assets in accordance with the fund’s stated investment objective. Different mutual funds have different objectives, such as growth, income or a mix of both.

No matter what your investment goals are – whether saving for college expenses, a new home or retirement – mutual funds can be an excellent addition to your financial portfolio.

A securities-licensed WFG associate** can help you decide if mutual funds should be a part of your financial strategy.

*Mutual funds are subject to market risk, including the loss of principal. There is no assurance that a mutual fund will achieve its investment objective.
**In the United States, securities are offered through Transamerica Financial Advisors, Inc. (TFA), Transamerica Financial Group Division Member FINRA, SIPC, and Registered Investment Advisor. Non-Securities products and services are not offered through TFA.
World Financial Group Insurance Agency of Canada Inc. (WFGIA) offers life insurance and segregated funds. WFG Securities Inc. (WFGS) offers mutual funds. WFG, WFGIA, and WFGS are affiliated companies.
Headquarters: 5000 Yonge Street, Suite 800, Toronto ON M2N 7E9 T: 416-225-2121 F: 416-225-2128

Segregated Funds (Canada) 1

In Canada, segregated funds are professionally managed investment policies that provide guarantees on the initial investment at maturity or upon the death of the account holder. Segregated funds offer money management and a wide array of investment portfolios to choose from and may protect your funds from creditors.

Your licensed WFG associate can provide more information about how these funds work and how they can potentially help you achieve your goals.

1 In Canada, insurance products (including Segregated Funds) are offered through World Financial Group Insurance Agency of Canada Inc.

Group Insurance (Canada) 1

As a small business owner, you provide financial and insurance solutions for yourself and your employees, as well as ensure the future security of your business. Your licensed WFG associate offers a variety of products and services to help you meet these needs.

  • Registered Retirement Savings Plans
  • Group Plans
  • Travel Plans

Talk to a licensed WFG associate to learn more about our group insurance products.

1 In Canada, insurance products (including Segregated Funds) are offered through World Financial Group Insurance Agency of Canada Inc.

Business Solutions 1

It’s important for business owners to not only invest in their company but also in the employees who work there.

  • Executive Compensation Programs
    • Deferred Compensation
    • Executive Bonus
    • Split Dollar
    • Key Person Insurance
  • Business Continuation Programs
    • Buy-Sell Arrangements
    • Business Continuation Strategies
  • Retirement Plan Solutions
    • 401(k)s
    • Profit Sharing Plans
    • Pension Plans
    • SEPs and Simple IRAs
    • Sole Proprietor 401(k)s
    • 403(b) Plans
    • 457 Plans

In Canada, business owners can offer products and services to help reward and retain personnel with tangible benefit programs, such as:

  • Registered Retirement Savings Plans
  • Group Plans
  • Travel Insurance

Talk to your licensed WFG associate to learn more about these products.

1In the United States, insurance products are offered through World Financial Group Insurance Agency, Inc., World Financial Group Insurance Agency of Hawaii, Inc., World Financial Group Insurance Agency of Massachusetts, Inc., World Financial Group Insurance Agency of Wyoming, Inc., World Financial Insurance Agency, Inc. and/or WFG Insurance Agency of Puerto Rico, Inc.
California License # 0679300
In Canada, insurance products (including Segregated Funds) are offered through World Financial Group Insurance Agency of Canada Inc.

College/Post-Secondary Education Funding 1

Put time on your side by starting an education savings plan when your children are young. The earlier you start, the more likely you will have a way to help cover your children’s tuition and other expenses when they go to college.

Whether you’re preparing to send your first or fifth child to college, your licensed WFG associate can help you begin saving now.

United States

  • 529 College Savings Plans

Canada

  • Registered Education Savings Plans
  • Joint Life Annuities
  • Mutual Funds
  • Guaranteed Interest Accounts

There are many ways to save for your children’s college education. Speak with your WFG associate to discuss which options are best suited for you and your family.

World Financial Group Canada Inc. (WFG) is a financial service marketing company whose affiliates offer a broad array of financial products and services.

Investment Advisory Services (United States) 1

WFG believes the advantages of money management should be available to families like yours. For that reason, WFG’s affiliated broker dealer and Registered Investment Advisor, Transamerica Financial Advisors, Inc., maintains relationships with independent third-party money managers so that associates who are properly licensed Investment Advisor Representatives of Transamerica Financial Advisors can provide personal, professional money management services.* These third-party money managers can work with the following types of assets:

  • Mutual Funds
  • Variable Annuity and Variable Life contracts
  • Exchange Traded Funds
  • Individual stocks and bonds through separately managed accounts
  • 401(k)s/403(b)s

Meet with a WFG associate who is an Investment Advisor Representative with Transamerica Financial Services, Inc., Transamerica Financial Group Division to learn more about investment advisory services and obtain the guidance and advice you need to help make your money work for you.

*Investment advisory services are offered in the United States only
1Securities and investment advisory services are offered through Transamerica Financial Advisors, Inc. (TFA), Transamerica Financial Group Division Member FINRA, SIPC, and Registered Investment Advisor. Non-Securities products and services are not offered through TFA.

Financial Needs Analysis

Your WFG associate offers you a professional and complimentary Financial Needs Analysis (FNA),* which is the first step in helping to identify the core components of your financial health. Following are some key areas a FNA can help to identify:

When investing, there are certain risks, fees and charges, and limitations that one must take into consideration.

* The WFG Financial Needs Analysis (FNA) is a tool developed to define your current financial situation and to identify products and services offered through the affiliated companies of World Financial Group Insurance Agency, Inc. and its subsidiary agency in the United States and World Financial Group Insurance Agency of Canada Inc. in Canada. This analysis provides only broad guidelines, and it is based on the accuracy and completeness of the data provided by the client. The analysis uses sources that are believed to be reliable and accurate, although they are not guaranteed. Discuss any legal, tax or financial matter with the appropriate professional. Neither the information presented nor any opinion expressed constitutes a solicitation for the purchase or sale of any specific security or financial service.
Due to regulatory constraints, the WFG Financial Needs Analysis program is prohibited for use with mutual fund clients of Transamerica Securities Inc. and with clients residing in Quebec.

Determining Your Needs
Your licensed WFG associate offers you a professional and complimentary Financial Needs Analysis (FNA),* which is the first step in helping to identify the core components of your financial health.
  • Cash Flow
  • Proper Protection
  • Debt Management
  • Emergency Fund
  • Build Wealth
  • Preserve Wealth
Cash Flow

When you create your financial strategy, it’s important to know how much money you have access to and how, if possible, you can increase that amount. This money is your cash flow and can help you accomplish many things, including reducing or eliminating debt and increasing your savings.

Here are some strategies you can use to increase your cash flow:

  • Create a budget for your monthly expenses and needs – and stick to it
  • Spend less than you earn
  • Raise deductibles on your auto, homeowners and other insurance policies, which can help to lower premium
  • Look for ways to earn higher interest on money that is currently in low-interest savings accounts
  • Start a second career or a part-time business to earn additional income

Your WFG associate can help you evaluate your current cash flow and assist you in finding ways to increase it.

Proper Protection

A big part of building a sound financial strategy is life insurance. Life insurance helps protect your loved ones in the event of your death. It not only helps replace lost income, but it can also help preserve your family’s assets.

A basic rule of thumb is to have enough life insurance to provide approximately 10 times your annual family income. For example, if your current household income is $50,000, you may want to consider having $500,000 in life insurance protection.

A WFG associate can evaluate of your financial situation to help you determine how much life insurance you need.

*In the United States, products and services offered through WFG’s affiliated companies, which include World Financial Group Insurance Agency, Inc. and Transamerica Financial Advisors, Inc. Associates must be properly licensed and appointed to sell insurance- and securities-related products.
Only WFG associates who are Registered Representatives and/or Investment Advisor Representatives of Transamerica Financial Advisors, Inc. can offer investment products and/or investment advisory services.
Securities and Investment Advisory Services offered through Transamerica Financial Advisors, Inc. (TFA), Transamerica Financial Group Division – Member FINRA, SIPC, and Registered Investment Advisor. Non-securities products and services are not offered through TFA.
In Canada, products and services offered through WFG’s affiliated companies, which include World Financial Group Insurance Agency of Canada Inc. and WFG Securities Inc. (WFGS). Associates must be properly licensed and appointed to sell insurance- and securities-related products.
Only WFG associates who are Registered Representatives of WFG Securities Inc. can offer investment products. Securities offered through WFG Securities Inc.
Non-securities products and services are not offered through WFGS.

Debt Management

One of the biggest obstacles to a sound financial future is consumer debt. It’s important to have a strategy that can help reduce and eliminate debt.

Here are some approaches you can take:

  • Pay more than the minimum, as much as possible within your budget, on the credit card/ loan with the highest interest rate. Once you pay off that credit card/loan, begin paying off the next highest interest rate credit card/loan.
  • Consider transferring credit card/loan balances to a card with a low interest rate that is offering a promotional, no fee transfer option. Don’t hesitate to call the issuers of all your credit cards to ask for a lower rate.
  • Quit charging. Put your credit cards away so you don’t consider charging on them while you’re paying down your debt or after it’s paid off.

There are many other things you can do to reduce debt. Work with your WFG associate to find strategies that you can work for you.

Emergency Fund

No matter how much you plan in life, the unexpected happens. To prepare for life’s little “disasters,” set up an emergency fund to help pay for any resulting expenses. A basic rule of thumb for determining how much you should set aside is three- to six-months of your total expenses.

Don’t think you need an emergency fund? Consider these potential expenses and scenarios:

  • Major car repairs
  • Major home repairs
  • Major appliance repairs or replacement
  • Loss of a job
  • Serious illness or hospitalization
  • Extended elder care or long-term care

Having an extra source of funds gives your family peace of mind during a stressful time.

Build Wealth

When developing your financial strategy, it’s important to ensure you put a long-term asset accumulation program in place that strives to outpace inflation and reduce taxation. When determining the best program for you, ask yourself the following questions:

  • How long do I expect live?
  • How much it will cost to live comfortably during those years?

There are key financial concepts that can help you as address these questions. For example, the Rule of 72 is an estimation of the time it takes for money to double.* Additionally, understanding the cost of waiting gives you an idea of the financial advantage of starting to save today.

Your WFG associate can explain these and other financial concepts to you, and help you develop a strategy based on your needs.

* The Rule of 72 is a mathematical concept that approximates the number of years it will take to double the principal at a constant rate of return compounded over time. All figures are for illustrative purposes only, and do not reflect the risks, expenses or charges associated with an actual investment. The rate of return of investments fluctuates over time and, as a result, the actual time it will take an investment to double in value cannot be predicted with any certainty. Results are rounded for illustrative purposes. Actual results in each case are slightly higher or lower.

Preserve Wealth

An essential part of your financial strategy is ensuring that the wealth you accumulated over the years is not impacted by taxes or other unintended consequences. A well-designed strategy can:

  • Eliminate probate costs
  • Help manage estate taxes
  • Ensure your legacy reaches your intended heirs, including any life insurance coverage, pensions and annuities
  • Provide an opportunity to set up medical and financial powers of attorney so that, should you become incapacitated, someone can take care of your finances, make medical decisions for you and more

Please consult with your attorney and/or tax advisor for guidance regarding your specific circumstances.*

* Tax and/or legal advice are not offered by World Financial Group Inc., World Financial Group Canada Inc, their affiliated companies or their independent associates. Please consult with your personal tax and/or legal professional for further guidance.