October 14, 2015

“Financial Security in an Insecure World” with Lorne Jackson and David Bold Kere

Lorne Jackson, President of Canadian National Christian Foundation, and Bold Kere presented solid, practical financial principles to foster financial security in the midst of current insecure global realities.

World’s Biggest Financial Risk: World Wide Debt Crisis
Household budget:
  • Annual family income: $32,550
  • Money the family spends: $39,850
  • New debt on the credit card: $7,300
  • Outstanding balance on the credit card: $653,324
  • Total budget cuts: $370
US Debt:
  • US tax revenue: $3,255,000,000,000
  • Federal budget: $3,985,000,000,000
  • New debt: $730,000,000,000
  • National debt: $65,332,000,000,000
  • Recent budget cuts: $37,000,000,000
Personal Debt:
  • Over 1/3 of Canadians have debt load of over 200% after tax income.
  • According to a stress test scenario by the Bank of Canada, it would take only a 0.5% increase in interest rates for 1.1 million Canadian families forced into bankruptcy.
  • “Our greatest domestic risk relates to household debt” —Bank of Canada Governor Mark Carney Dec 2011
  • Our world has become obsessed with living beyond our means.
What is the Media Saying?
  • We live in a credit economy.
  • For millions of Canadians, payment of debt is a serious, pressing and debilitating problem.

We all know that Credit is a problem. I want to take a few minutes to highlight how serious it is for the Canadian family – this is our problem not just the US or Europe!

Most Secure Investment
  • A can’t lose investment: pay off debt
Getting out of Debt
  • Make the decision to stop using debt
  • Set aside an emergency fund (1 month income)
  • Snowball your debt (only in Canada)
  • Visit www.compasscanada.org
Solid Financial Principles
  • Spend less than you earn
  • Avoid the use of debt
  • Build liquidity (savings)
  • Set long term goals
  • Give generously
Key Investing Tips
  • Avoid get rich quick schemes.
  • Obtain wise financial counsel.
  • Never invest in something you don’t fully understand.
  • Diversify your investments.
  • Be a diligent, patient investor.
Investing Wisely

We don’t provide investment advice but just a word now about it: slow and steady wins the race. If it’s too good to be true then it IS.

  • Avoid get-rich-quick schemes – “The plans of the diligent lead surely to advantage, but everyone who is hasty comes surely to poverty.” Proverbs 21:5
  • Obtain wise financial counsel – First check God’s word. There are 2350 verses on money and possessions. “Plans fail for lack of counsel, but with many advisers they succeed.” Proverbs 15:22
  • Never invest in something you don’t fully understand “It is not good to have zeal without knowledge, nor to be hasty and miss the way.” Proverbs 19:2
  • Diversify your investments “Give portions to seven, yes to eight, for you do not know what disaster may come upon the land.” Ecclesiastes 11:2
  • Be a diligent investor  “Sow your seed in the morning and let not your hands be idle for you do not know which will succeed whether this or that or whether both will do equally well.” Ecclesiastes 11:6
Personal Experience
Key Turning Points in my Life
  • 1977
  • 1989
  • 2002
  • 2010
Other Financial Methods and Services
  • Bold Kere of Bold Care Financial
Expense Tracking and Analyzing
  • A way to eliminate debt
  • Account for what comes in (income)
  • Greater awareness of speed and purpose of spending
  • Needs vs wants
  • Reduction of spending and freeing liquidity
  • Realistic and efficient budget (paying debt, saving, investing, financial planning…)
Investment Planning
  • Choose the right investments for your objectives
  • Know the taxation consequences of your choices
  • Be diligent to know the state of your investments
  • Protect your family, your business, your state
  • Estate planning
  • Health insurance
  • Disability insurance
  • Life insurance
  • Key person insurance
  • Group insurance
The Unknown
  • Story of Joseph
  • Key points learned
Personal Commitment
Lorne Jackson photo

Lorne Jackson, CFP, CLU, CH.F.C. PresidentCanadian National Christian Foundation (CNCF)

After many years in the life insurance business as a Branch Manager for one of Canada’s largest life insurers, Lorne set out on his own and purchased an independent financial planning company. Under his leadership, the company grew from 65 to over 1000 financial planners across Canada.

In 2001, after 25 years in financial services, Lorne sold his company and created the Canadian National Christian Foundation. CNCF is a federally incorporated public foundation serving Christian donors in Canada who desire to give more efficiently and effectively. Lorne serves as its President today.

David Bold Kere photo

David Bold Kere BSc. A., Founder—Bold Care Financial

After having worked in quality assurance and management for seven years, Bold Kere worked as a day trader and as a financial advisor with the Royal Bank of Canada (RBC). During this time, he obtained his Mutual Funds License, his Life, Accident and Sickness Insurance License and completed the Personal Financial Planner (PFP) course curriculum.

In January 2015, Bold founded Bold Care Financial to educate, empower and advise people to make purpose-driven, wise financial decisions. He emphasizes integrity, quality, simplicity and practicality. He loves to journey with his clients and see their finances, as well as their lives change for the best, as he shares the principles and values that guide him.