Cache Creek British Columbia Canada tourism and travel adventures in and around the Nicola Valley.

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Circle Tour from Merritt BC

Circle Tour from Merritt BC

Logan Lake Ashcroft Lac LeJeune

One of many road trips  starting from the Nicola Valley

When I decide to take a Circle Tour from Merritt BC I tend to head out when it is not the optimum time to visit these places.  Therefore I include items in the  blog that pertain to other times of the year so that you can see what it is like at any time of the year. That is what road trips are all about. 

Circle Tour from Merritt BC Starts In Logan Lake

The first part of our road trip from Merritt heads out Highway 8 to Mamette Lake Road (Hwy 97C). At anytime of the year the scenery is beautiful.  In the Spring you can see the beauty of the landscape coming alive with all the various shades of green.  The summer brings out the pastoral scenery with the cattle and horses out grazing and the loveliness of Mamette Lake.  The Fall showcases the magnificent colours of the trees and shrubs.

While all these seasons are great, the beauty of the area is stunning with the snow covered trees and pasture land.  As you travel along Mamette Lake Road (Hwy 97C) You will come to Left Field Cidery which produces one of the best apple ciders you can find.

 

Circle Tour from Merritt BC

Left Field Cidery-Tom Reynolds Photo

Ice Fishing on the Circle Tour from Merritt

Just a little way past Left Field Cidery you come upon Mamette Lake.  In the warmer months you can do the canoeing, kayaking and fishing thing but in winter the main activity is ice fishing.

Ice Fishing Mamette Lake

Ice Fishing Mamette Lake. Tom Reynolds Photo.

Logan Lake on the Circle Tour from Merritt

After leaving Mamette Lake you arrive at the intersection of Hwy 97C and Hwy 97D.  Turning right takes you to the District of Logan Lake.  The District is home to many of the miners who work at Highland Valley Copper.  Because of the mine, Logan Lake has amenities that exceed many other towns of their size.

Snowmobiling, cross country skiing, snow shoeing and ice fishing are favourite outdoor activities.  The community centre boasts an ice rink as well.

Logan Lake

Logan Lake Tom Reynolds Photo

The above photo is of frozen Logan Lake where  you can snowshoe or cross-country ski around the  lake.

Logan Lake by Design

Logan Lake’s claim to fame is that it was established to house the miners that worked at Highland Valley Copper.  The town was established in the early 1970’s and was designed from the ground up using the planning theories of the era.  The town centre is a plaza where cars are not allowed.  It is necessary to park in the lots on the outside of the village square and walk into the shops.

Logan Lake Town Centre

Logan Lake Town Centre-Tom Reynolds Photo

Other Activities on Circle Tour from Merritt

Logan Lake is packed with activities in the warmer months of the year.  For example, there are numerus trails for ATV’s.  In fact Logan Lakes promotes this use.  If that is not your cup of tea you can enjoy fishing, kayaking, canoeing, swimming and hiking.  If it is out doors Logan Lake has it.

 

The Circle Tour from Merritt Moves to Ashcroft

The next part of the circle tour from Merritt BC follows highway 97C to Ashcroft.   Along the way you pass the massive copper mine, Highland Valley Copper which is one of the largest open pit mines in North America. During the warm months you can see the huge slag lake which is an amazing shade of blue.

Highland Valley Copper Mine

Highland Valley Copper-Tom Reynolds Photo

Ashcroft is an inspiring community

When we arrived in Ashcroft it was lunch time so we sought out a place to have lunch and it the jackpot, Unitea café and lounge.  The food was fresh and delicious but more importantly the owner was a fountain of information about the community.  They have a strong arts community for both art and performing arts.  In fact the cafe is home to regular music concerts on their premises.

Ashcroft BC Cafe Coffee shop

Unitea-Tom Reynolds Photo

Ashcroft has an interesting museum and heritage park that attracts a lot of attention in the summer months’

Ashcroft BC Museum

Ashcroft museum-Tom Reynolds Photo

The Circle Tour from Merritt The Last Lap

Heading to Hwy 1 takes you past the turn off to Dessert Hills Ranch where you can get all sorts of locally grown vegetables and if hungry a Taco.  Once you reach the highway you want to go east towards Kamloops where you will come to Cache Creek, home of Ane’s Pizza and bakery which is home to the best fruit pie around. 

Continuing on towards Kamloops you will pass Savona which is on Kamloops Lake.  This is followed by the Tobiano Golf Course.  You will then reach the Coquihalla Highway that will take you back to Merritt BC Canada.

Lac Le Jeune the Final Stop

Lac Lejeune is more a summertime playground but right next to it is the Stake Lake Nordic Ski Park.  If you are into cross country skiing this is a great place for you.  The trails are well groomed and you can find trails for all ski levels.  Myself I love the green trails.

Circle Tour from Merritt BC

Stake Lake

When you leave this area you are just one half hour away from Merritt!

Circle Tour from Merritt BC

Logan Lake Ashcroft Lac LeJeune

One of many tours starting from the Nicola Valley

 

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Estate Planning in Merritt – Kamloops – Logan Lake

Estate Planning in Merritt BC

A Holistic View on Estate & Insurance Planning in Merritt – Kamloops -Logan Lake 

The Second Pillar of Financial Planning

Estate Planning in Merritt, BC – Life is full of unexpected turns and twists. Because of that, we need to have a plan in place. Here we focus on developing comprehensive strategies that protect, preserve and provide for those that we care about. What is in place to protect our income and wealth? On our passing, is there enough liquidity in our estate? Is our will up to date? Is the executor and power of attorney we selected up to the task? If we could no longer work and were not an ideal retirement age, how would our retirement look?

familyinsurancemerritt

Great care needs to be taken to ensure the needs are all protected and fulfilled.

A Quick Disclaimer…

Some of the strategies that I will discuss are not to be taken as advice for your unique needs. I strongly suggest that you speak to a qualified professional.  These are complicated issues and not to be taken lightly. Being dually licensed in Mutual Funds and Insurance, I look at the big picture when it comes to making recommendations. 

Some Basic Assumptions to Begin Financial Planning

To begin, every financial plan looks at a couple main points. We start with a desired retirement date and a projected date of passing. For some, this number may be larger than others. Family history and current health are indicators of potential life expectancies. For the most part, I look at tables and project that way. A truth we must face, some of us will live to be 90 and even 100 years old.

A Shocking Canadian Statistic

Protecting Our Income and Our Wealth

Play along with me for a moment. Imagine yourself 45 years old. You are in the prime earning years of your life.  With possibly 20 years to go until retirement, many things are on your mind. Funding our children’s future education goals, paying off that mortgage and investing for retirement most likely top that list. You receive a call, letting you know your spouse was in a serious car accident. They unfortunately will not survive their injuries. I know this may seem grim, however, this is a part of life for some. This event was one of two things, planned or unplanned. Having a policy in place to protect against such an event will make all the difference for that surviving spouse and those children. 

Estate Liquidity Needs

When an individual passes, expenses come up out of no where that need to be covered by someone. Assets like a primary residence or an investment account will not be available right away to help cover some of these expenses. If there is no will in place, your loved ones may have to cover your expenses for months to come before the courts will actually grant someone the ability to simply act as your administrator. With accounts frozen, these expenses will have to be paid out of pocket by someone else. Not exactly the lasting memory we wish to leave behind. However, a simple beneficiary designation in the correct direction or a life policy could change this whole story.

Estate Planning in Merritt and Trust Advisory (Wills/POA)

Your last will and testament is an important thing to have in place. However, just as important is who you name to carry out your last wishes. Is this executor or executrix up to the task? With your passing, could you see them being mentally and physically able to carry out this task? Not exactly something we want to take lightly. Trusts are a complicated topic as well and the situation needs to warrant having something like this in place. Split families and second marriages bring a level of complexity to the estate planning process also. The wording needs to be very accurate to ensure your wishes take place. 

Living Benefits (Disability/Critical Illness/Long Term Care)

What would happen to our family if we were injured before retirement? This can have a massive impact on an individual or a family. What happens when one no longer has the ability to meet our current expenses, possibly even having expenses increase? What if a medical diagnosis or disease left us unable to earn a living for ourselves? There are so many situations that can be planned for. Ensuring we have proper coverage at different parts of our life is vitally important. Would our significant other be able to live comfortably if we needed long term care?

Ensure Your Plan Prepares You For The Unexpected

Experience Nicola Valley Financial Blogger

 

Estate Planning in Merritt BC

 

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Managing Cash Flow Merritt – Logan Lake and Kamloops

Managing Cash Flow Merritt – The First Pillar of Financial Planning

“If we arrange our retirement income correctly we can lower the tax we pay over our retirement and, eventually, lower the amount of taxes due at our passing on.”

Managing Cash Flow in Merritt, BC – Last edition we looked from a high level overview at the 6 pillars of financial planning. This edition will focus a little more in depth into the financial pillar of managing cash flow. 

managing cash flow merritt

Budgets are just guides. We are in control of how they flow.

 

Managing Cash Flow Begins With A Cash Flow Analysis

Managing cash flow in Merritt, or anywhere else, varies over our pre-retirement and retirement years. No matter the season of life, the process remains the same.

First, we need to determine all the sources of income that we have entering our picture. Then we need to determine our current and future expenses. This can be tricky as future expenses will increase due to inflation and the loss of purchasing power takes place on our retirement nest egg.

 

managing cash flow merritt logan lake

To coffee, or not to coffee…that is the question…

 

Managing Our Income In Our Pre-retirement Years

In our pre-retirement years, income will come in different ways. We will earn employment income, rental income or income from being self-employed. If incorporated the income may come through dividends. We could even receive capital gains from our investments. These are all taxed differently and the goal is to bring them “into our picture” in the most tax efficient manner. For the most part, if planned properly, we are in control of how we receive these and even when.

 

How We Determine Our Retirement Paycheque

In retirement we could still receive any of the incomes listed above. There are a few additional benefits that become available in our sixties. Firstly, between the ages of 60 and 70 we can begin receiving CPP or Canada Pension Plan benefits. If you receive the benefit before age 65, you will receive a penalty of 0.6% per month that it is taken early. Alternatively, each month after 65 that you delay receiving CPP you are paid a 0.7% bonus for life.

Secondly, between age 65 and age 70 we can begin receiving OAS or Old Age Security. Thirdly, the year we turn 71, it is mandatory that by December 31st of that year any RRSP’s, or Registered Retirement Saving Plan’s, are converted into RRIF’s, or Registered Retirement Income Funds. The government determines the mandatory minimum amount that must be withdrawn on an annual basis. Confusing? You bet it is! Fourthly, there is even a GIS, or Guaranteed Income Supplement, available in the mid to late sixties to those who can qualify for it. 

moneyadvicemerrittbc

Always just a phone call away.

 

“Why Would I Wait To Receive Government Benefits?”

A common question I am asked. It is uniquely situational. Each individual or couple has different things that are available at different times in their life. Some are struggling  to make ends meet when they reach 60 years old and just take the CPP benefit early. Others may be receiving payouts upon their retirement and delaying additional income a year may be beneficial. Most answers are based on tax strategies when it comes to planning in this area. There is no cut and dry best time to take it for everyone. It must be something that is analyzed and planned for. 

Some Things To Have In Place Before Retirement

Most of us will be at the height of our earning years before retirement. If planned for, we could see ourselves entering retirement mortgage free. There is no better time to have a line of credit or credit solution in place “just in case” we may need it in retirement. Credit solutions always look at what you own and what you earn. However, if you wait until you are already retired it will reduce the credit you have available. 

Tax-efficiency Is Key In Retirement Income Planning

There are many strategies for income planning in retirement. Again, all are uniquely situational. Similar to questions raised above like, “When do I start collecting CPP or OAS?” These are big picture questions.  It is all tied in together. Taxes are the single largest expense of our lifetime. If we arrange our retirement income correctly we can lower the tax we pay over our retirement and, eventually, lower the amount of taxes due at our passing on.

These Decisions Have Lasting Effects,

Seek Professional Help To Get It Right!

planninginmerritt

Managing Cash Flow – Nicola Valley

 

Financial Planning Near Merritt, BC

Managing your cash flow Merritt

Nicola Valley BC Canada

 

Nicola Valley Financial Planning in and around Merritt British Columbia, Canada

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Financial Planning in Logan Lake – Merritt – Kamloops – Cache Creek – Ashcroft

Financial Planning In Logan Lake British Columbia

Holistic Financial Plans uniquely designed for each individual family 

“I am a firm believer in saying “yes” to something and figuring it out afterwards. I am now performing webinars that can be viewed online because being elderly or having poor health shouldn’t stop people from learning.” 

Financial Planning in Logan Lake – I generally spent 2-3 days per week working from home and creating financial plans for families and businesses here in Logan Lake, BC.  The other 2-3 days per week I spent meeting with people face to face, updating or creating plans with families and businesses in the surrounding areas. An average week I would find myself in Kamloops, Merritt, Cache Creek or Ashcroft meeting with people who desire advice and guidance on how to grow, preserve or protect their net worth. 

Financial Planning in Logan Lake - we come to you

Warm weather is here! Time to stretch the legs!

Social Distancing for Financial Safety

However, social or physical distancing is the “new norm” for the moment. Meeting face to face with families and business owners right now to perform financial planning is difficult in some situations, but not for all. Going from home to home in Logan Lake, BC at this time is challenging. With some of my clients being elderly and/or immune compromised, I’ve been focusing more on phone calls and video meetings. I’m not worried too much about my own health, I don’t believe I would be at risk of it affecting me that greatly. I find myself more worried about unintentionally spreading a sickness to someone else. I’ve been taking precautions to ensure I stay distanced from my clients, whether they are new or existing clients. I use my pen, you use yours. Interestingly enough, pens aren’t used a whole lot these days. They might be making a come back. 

Change Came Quickly to Ensure Safety for All 

I quickly learned I needed to adapt to this ever changing landscape. Soon, I found myself in the middle of March. However, due to COVID 19, I stopped meeting face to face in the beginning of March as things began to change. Before COVID19 I had never hosted a meeting on Zoom before. I had attended multiple meetings but that was it. My wife, Jennifer and I have a busy home with 7 children ruling the roost. Creating financial plans in an office at my parents house in Logan Lake, BC was a normal thing to do.  However, my 89 year old grandfather lives with them as well. Because I could not risk somehow transmitting COVID19 to him, I had to make a change to my own process. 

financial planning logan lake

Home office in a hurry, I sometimes have little visitors.

Financial Planning from Home in a Hurry

Rumors and discussions with my co workers in Kamloops, BC were leading to the temporary closing of our office. With this out of the picture I had to improvise. I did some quick measurements of our bedroom and re-arranged our furniture to make my new home office. I purchased a desk from Staples and comfortable chair from Jysk in Kamloops, BC. Now I could continue working from home performing financial planning in Logan Lake, BC. 

Digital Meetings for the First Time

Knowing I had to figure this out, and quickly, I performed a Zoom meeting with my parents just to test it out. We needed to connect anyways to review their financial plan and ensure that their retirement was still solid. Because this market volatility that was happening throughout the global economy, we needed to confirm the planning was still on target. Learning how to create and schedule a Zoom meeting, inviting people to that meeting and running a meeting was a neat learning experience. Over the past few weeks, I’ve held multiple meetings now with my clients and with some new clients also through utilizing this valuable communication tool. 

Seminars On Hold, Moving On To Webinars

With restrictions on how many people can now come together, I cancelled all the seminars I had planned. However, I still wished to explain the benefits of financial planning to my community and far beyond. Over the past few months I had worked with Community Futures – Nicola Valley and the Logan Lake WHY (Wellness – Health – Youth). With my new found wisdom, I jumped immediately into Zoom webinars. I am a firm believer in saying “yes” to something and figuring it out afterwards. I am now performing webinars that can be viewed online because being elderly or having poor health shouldn’t stop people from learning. Those that are willing to learn more about financial planning can do so from the comfort of their own home. 

financial planning nicola valley

A walk in the woods, and some fresh air between meetings.

Financial Planning in Logan Lake, or British Columbia, Has Not Changed

What I do for families and businesses, as well as, financial planning in Logan Lake, Merritt, Kamloops, Cache Creek, Ashcroft, has not changed. The process remains the same. No adventure begins by only entering the starting point into our GPS. First, it’s important to get an accurate picture of where we are now. Second, it is important to know exactly what your life and business goals are. In conclusion, we must ask yourselves, “is something as important as our financial well being worth taking a wrong turn?”

Comprehensive Financial Planning in Logan Lake British Columbia

“A Goal Based Approach to Financial Life”

Merritt, British Columbia, Canada


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