Tomo Honda - Financial Planner, Sun Life

10/17/2023

See the power of Sun Par over time in this video that highlights how it can help you through ups and downs. Watch the video. Then let’s talk about how you can benefit from one of the strongest Par accounts in Canada.

Vidyard video

10/03/2023

I've earned the designation of Certified Financial Planner™️.
Advisors who complete the CFP®️ certification achieve a high standard of competence, ethics and practice. By completing the CFP®️ program, I've developed advanced knowledge of important financial needs. This includes tax issues, estate planning as well as group and disability benefits.

I'm proud of this accomplishment. Completing the educational requirements of the program shows my continuing commitment to help Clients achieve lifetime financial security.

11/26/2021

It's more than a month of moustaches. This Movember, spread awareness about some of the most serious men's health issues, including prostate and testicular cancer. https://bit.ly/11Movember1

11/26/2021

Post-secondary school is an exciting time. I've even heard some say it was the best time of their life. It's your first taste of real independence. But that can also mean newfound responsibilities. Budgeting for school can be tough. Here are some smart spending and saving tips that if started early, will help set you up for financial success.

✔ Get a job. The little extra cash can make a big difference in managing a budget.
✔ Pay off high-interest debt first 💳. Living on a credit card is not a good idea. They typically have higher interest than other debt not to mention it can affect your credit score over time. Make it a priority to chip away at higher-interest debt first.
✔ Keep an eye on student discounts. There are a number of deals, offers, and special prices that are granted to students; take advantage!
✔ Don't waste food. Avoid overbuying, especially with items that go bad before you get a change it eat them.
✔ Set aside funds for fun. Set a certain amount of cash aside each month. This gives you a limited amount of resources for fun that you won't feel guilty about or risk overspending.
✔ Be conscious of your books 📚. Try and find used books whenever possible and sell back any you won't need anymore. Don't forget to look online for cheaper international versions.

Tip: if you're only going to need a book for a few days or weeks, try and rent the book from a library to avoid buying it!

11/26/2021

Like many other critical life skills, financial literacy needs to be taught. Studies have suggested that only one in ten teenagers are financially literate. To help you start the conversation with your teenager, here are five must-know basics.

✔ Open a bank account in their name 💵. It teaches them essential banking jargon as well as the real-life tools for money management.

✔ Convince them to save for post-secondary school. Teaching them to set money aside from their part-time jobs will instill the habit of saving and help them learn the importance of money.

✔ Wants vs needs. Impulse buying affects everyone, not just teenagers. Lead by example and show them the difference between what is a 'want' and what is a 'need'.

✔ The perils of credit cards 💳. It's important to educate your teenager about the dangers of credit cards and how to properly use them. Once they turn 18 they will start receiving calls. Relying on credit cards can create a vicious cycle of debt. However, using them wisely can help set them up for a good financial future.

✔ Have tax talks. When your teenager gets their first summer job, they will have to start paying taxes. Even if not tax-liable now, they will soon be. It's important you start talking to them about how taxes work, different tax forms, and concepts such as tax refund vs tax liability.

Helping your children with their financial literacy is one of the best gifts you can give. Don't wait.

11/26/2021

Even in retirement you need to make sure your finances are in order to help save money and continue to plan for the future. As the year quickly winds down, it's time to check a few items off your to-do list.

✔Look for ways to reduce your 2021 income taxes
✔ Give. Donating to charities can not only reduce your tax bill but will also make you feel good.
✔ Talk with your family. Take a little time to discuss your finances that concern them (wills, trusts, succession planning, etc).
✔ Prioritize planning. Set some financial goals looking one, three, and five years out. What do you need to do to get there?
✔ Retire your debt. Don't add to your debt during the holidays. See if you can pay it off entirely.

Wouldn't it feel great to begin 2022 debt-free?

Don't wait on your year-end planning. Reach out to me or someone on my team to get started. Happy Financial Literacy Month!

11/25/2021

Small Business Saturday is coming up and a lot of people like to support small. As an entrepreneur, what can you do to make the most out of one of the busiest days of the year? Here are three strategies small business owners plan to use to generate more sales.

Nearly two-thirds of U.S shoppers prefer to do their holiday shopping with small businesses. Here's what entrepreneurs are doing to make the most of Small Business Saturday.

11/24/2021

Young people, especially those from Indigenous communities, continue to face mental health challenges. That is why Sun Life is pledging $1 million to Kids Help Phone.

Their donation will help bring life-saving mental health programming to Indigenous youth across Canada. Together, over the next three years, they will reach 4,500 youth with sessions to equip them with skills, tools and resources to support their mental health and well-being. Learn more: https://bit.ly/SLdonation1

11/22/2021

There’s a big debate out there by advisors on just how much you need to save to retire here in Canada. But, what if I told you there wasn’t one secret number?
Everyone’s situation is different and unique. There is no magic figure that suits everybody so estimating a percentage isn’t the best strategy. You need to look at what retirement means to you and what expenses you might have. From there, we can determine just how much you need to save to live the life you want in retirement.

Want to know what you magic number is? Let’s sit down and review your financial situation today.

How much money will you need to retire? The answer depends on how you answer 10 questions.

11/19/2021

My heart goes out to everyone affected by the devastating floods in B.C., including Clients, and their loved ones. To help support immediate and ongoing relief efforts, Sun Life is donating $50,000 in response to the Canadian Red Cross B.C. Floods and Extreme Weather Appeal.

11/19/2021

When considering which type of life insurance you should purchase, understanding the basics, benefits and realities are important. To find out if term insurance is right for you, contact me today!

Helmut wonders how long life insurance terms usually are—and if you need to get a medical exam to buy some when you need it.

11/19/2021

Simply put, you need to know where you’re starting from before deciding what’s right for you. Put aside the noise and listen to these three simple steps to help you build your wealth.