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Financial Planning for New Canadians

How Newcomers Can Truly Make It

www.Financial4NewCanadian.com

ISBN: 978-1-77277-308-8

eISBN: 978-1-7727732-2-4

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Publisher: 10-10-10 Publishing, Canada

First Edition

Printed in the United States of America and Canada

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Dedicating this book to all new Canadians.

TABLE OF CONTENTS

Acknowledgements

Foreword

Introduction

1. Why do people come to Canada?

2. What if you die too soon?

3. What if you live too long?

4. What if you have to live with a disease or disability?

5. Tax (RRSP, RESP, TFSA, Dividend)

6. Credit

7. How to use my Services Team

Testimonials

ACKNOWLEDGEMENTS

I would first like to thank my parish priest Fr. Peter Choi—who stays with Mother Mary. He showed me the way stay with Jesus.

I am extremely grateful to all Junior Legion of Mary members Minho Andrea Lee, Minseo Elizabeth Lee, Haein Joanne Lee, Sehee Ryoo, Angela Lee, Dong-Hyun Michael Kim, Junhee Ryoo and Doo-Hyun Daniel Kim—we pray together, eat together and have fun together. I’m sure you are going to work with God. I’m so excited to see you now and in the future.

I would like to acknowledge my Spiritual Director—Fr. David Linder who showed me the direction to journey to God with lot of prayers and love. I deeply appreciate his impact on the person that I have become.

I would like to thank—Piona Cuddy, President of QFS, who gave me the clear direction for my business. She is working hard and a great model for me now.

I extend a huge thank you to Sosi Bedrosian. She cares for me whenever I need any material. Not only my stuff, but she also always asks after my sons and family. She is a very kind and the warmest person I have ever known.

I appreciate everything I have learned from Louis Ho. He taught me about annuities for free. He is a great expert at Annuities. I always said that “One day, if I have chance to acknowledge you, I will say your name.” Today is the day your name is here as my teacher. Thanks.

I would like thank to Santo. P. Filice—He works at RBC. He and his service team are great and provide amazing follow up.

I’m very impressed with Valerie Ottino. She works at Manulife. She showed me the big vision as a Financial Advisor working with other professional teams. I admire how powerful she is in creating beautiful futures for the clients.

I am extremely grateful to one of the most amazing people in the world, Harry J. Hong. He is a Barrister & Solicitor who is knowledgeable and a very dedicated person.

Of course, I would like to acknowledge Raymond Aaron. He is my first real business mentor. I’m so lucky to have him in my life. Thanks again.

I would like to acknowledge my son Sebastian Lee. He guides me and listens to what I have say when I have a problem. He is a very good listener and with that he has a power for solving the problem. He is growing up with me. I’m so happy to be his mom. I’m so proud of him.

I would like to acknowledge James Lee. He is my son and knows how to make life happy. I can see his transformational life change to become a Big man. I am very happy to be his mom.

I would like thank Julia Park—she is a Mortgage broker who is working smart. She guides her clients to understand well about the mortgage. And the patience that she gives to her clients is remarkable. I have learned from her the immense value of helping others.

I would like thank Peter Noh. He is helping a lot of people who want to come to Canada. His knowledge and energy can bring many people to settle in this country. I refer many people. Most of them are happy to live in Canada.

Thank you to Lee, Min Ho as well, for supporting me. He is the President of Korea Trade Association. His attitude is very impressive.

I would acknowledge Scott Edgington. He is the best Investment Expert. He is a great teacher, and he has a good sense of humor at any time. I learn a lot from him about investment strategies. I admire how smart he is and how he loves to share with others easily.

I’m extremely thankful to Rodney Leeson. He works at QFS as an Operations Manager. He has a great mindset for working with agents. He is one of the best people in my life. He knows what he is doing. He gave me big opportunities to perform as a Financial Advisor now.

FOREWORD

Financial Planning for New Canadians is a comprehensive look at what immigrants to Canada need to be aware of while building their fortunes. Hye Young Lee is an expert in retirement and estate planning, but she covers all aspects of personal financial stewardship.

As someone who is deeply involved in the financial world, I can heartily recommend Hye Young’s approach to helping new Canadians. She doesn’t weigh you down with specifics that can be looked after by your financial advisor, but rather she gives a great overview of what you need to do to build wealth and protect that wealth.

I really like that Hye Young included a chapter on taxation and one on the proper use of credit. You may also have noticed in the acknowledgements that she has a strong team of professionals to help look after your financial interests.

As a woman in what is still largely a male-dominated field, Hye Young has made great strides in becoming a top professional. Her work with immigrants, along with this book, should stand her in good stead for many years to come.

Loral Langemeier

The Millionaire Maker

Loral Langemeier is a money expert, sought after speaker, entrepreneurial thought leader, and bestselling author of five books who is on a relentless mission to change the conversation about money and empower people around the world to become millionaires.

INTRODUCTION

Financial Planning for New Canadians: How Newcomers Can Truly Make It