This column previously appeared in the Telegraph-Journal on July 20th, 2010.
The article was written by FUSION Saint John’s Claire Ryan:
This month, MGI Wealth Inc. a Saint John financial company, will be spreading the word on the value financial planning to FUSION members through a Party with a Purpose.
“We’re a new company, and want to be involved in the community,” says MGI’s Kathy Curwin on hosting the event.
MGI Wealth Inc. is a full-service financial company that offers a hybrid of the services offered by bank and commission-based financial advisors in that their advisors are on salary and not selling a specific product.
The company has been open in the city for the past year, and is the only Atlantic Canadian location, which has offices across Canada. They will also be highlighting one of the uptown’s green spaces, as the party will be held in the courtyard behind their office space on Prince William Street.
“The perception is that people need to have money before they seek out these services, but we want to get the message out that we want to help people build wealth,” Curwin said. “The purpose of this party is not to sell anything, we want people to know that there is another option out there.”
For many of us, the recent economic downturn was wake-up call to look more closely at the way we are spending, saving and planning for our futures. One of the best steps anyone could take to protect their finances is to increase awareness of the products, services and options that exist. Having an understanding of how to allocate money is particularly important for this generation, with many people incurring thousands of dollars of debt before they ever even enter the workforce.
Years, and even decades of student loan payments, coupled with the near certainty that the debt load will increase with car and mortgage payments makes it tempting to loose sight of long-term planning and focus on simply staying afloat.
“Everyone knows they need to save money, but the reality is that life gets in the way,” Curwin said. “We want to help people get in a better place financially – everyone needs that.”
We’ve all heard that the earlier you start saving, the better off you’ll be in the long run, but it can be difficult to look at your long-term financial picture – where you want to go and what you need to do to get there – when a large debt already hangs overhead. Seeking advice from someone who is knowledgeable in the industry and well versed in the options that are available can be helpful in putting finances into perspective.
July’s Party with a Purpose is being hosted by MGI Wealth Management, and will take place Friday 23 at 98 Prince William Street.
Claire Ryan is on the FUSION Saint John board. Reach her at cryan@mtlpr.ca.
