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World’s Youngest Best-Selling Author

Stanley Tang reveals his secrets of success

tanley interviewed 14 successful internet millionaires at the age of 14 for his book, called eMillions. Thanks to the book's connections, his blog, and an effective sales page, eMillions rocketed to the top of Amazon best-seller lists right after its launch. Today, Stanley is 18-years-old and he's left his home in Hong Kong for Stanford University in California to pursue a Computer Science degree.



t Dreams & Money, I have a dream; I know you have a dream too. That's why you have this paper in your hands. My dream took the shape of mission statement for "Dreams & Money" nine months ago. The mission of Dreams & Money is to help people see their financial dreams come true. A lot of dreams in the world require financial awareness and proper planning; that is the content for "Dreams & Money" .With this mission, our journey started on January 2011. Prime Minister Harper's greeting, published in the inaugural issue, motivated the publication further. All these months, we have delivered what we promised. Now after nine months, we asked ourselves about the type of business we are in and we would like to be in. The answer we got is "spreading the message to fulfill one's dreams." We learnt we are in the "information and inspiration business" and not the "newspaper business". We also learnt that future of journalism lies "online". Based on our learning, our journey continues -- with a change in strategy. We trust those strategies will deliver more value both to our readers and sponsors. Readers were demanding shorter frequency instead of a monthly edition. From October, it will be published online bimonthly – fifth and twentieth of every month. That gives us a better opportunity to bring financial news, ideas, tips and discussions to the community faster. Print edition will be discontinued.

Since 2006, he has been building internet businesses ranging from online magazines to social web applications. S t a n l e y discovered his entrepreneurial knack at age 11 when he started buying a couple of chips and "Mamee Noodles" every morning at the 7-Eleven and selling them for profit at school. He made a few hundred dollars – not bad for an eleven year old's pocket money. Then Stanley got into HTML & Java coding, learned about Google Adsense,

and read Rich Dad, Poor Dad by Robert Kiyosaki. And as they say, the rest was history. Over the next couple of years, he wrote The Viral Marketing Blackbook and the #1 book in four categories on Amazon, eMillions: Behind-TheScenes Stories of 14 Successful Internet Millionaires As a kid, he loved doing web design and hacking together. Internet business was the perfect fusion of his two passions: business and technology. Here are some curious questions and unhesitant answers


Starting this issue, we are also introducing a new section called News – Views Digest. As the name suggests, it will cover all the important news and views of interest to the readers of Dreams & Money in a digest form. People on the run can quickly glance through the current events and will be in a position to take action wherever necessary to protect and accumulate their money. Great news for our sponsors is that we are further reducing our advertising rates and giving more coverage through increased number of publications. Now publication will be twice instead of one in a month. I could hear what you are

saying. "Wow! Prices reduced and frequency increased!" Dear sponsors, we have listened to you and like before, we are looking for better ways to take your messages to more and more people at affordable costs. If you are someone who shares our passion, we'll be happy to hear from you. If you haven't already, please join us a t w w w. d re a m s a n d m o n e y. c o m Subscribe to our e paper and continue to enjoy what you were enjoying all these months. It is still free. E-editions are, simply, digital replica of the print layout. Benefits and features include: Ÿ Retains the newspaper look and feel Ÿ One- or two-page view Ÿ It is easy on the environment Ÿ Brings the power of now, instead of waiting or searching for an article you just go online and get it Ÿ Easy to e-mail and print articles Ÿ Skim through headline and sections. Easy on the eyes, can


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Who are your customers? "My customers and subscribers are mostly people who are interested in entrepreneurship and business." How you popularized your books? I would send review copies to as many people as I could. That way, if they liked my book, hopefully, they will also write about it and let their readers/ customers/ subscribers know. Have you automated / outsourced any part of your business? Yes. I tend to outsource a lot of the small detailed tasks so that I can focus on the big picture. For example, with my book, I outsourced most of the graphics design, book publishing and distribution side of things to people who can do this better. That way, I could focus on actually creating the book and the marketing/strategy side of things. enlarge as big as one wants. Ÿ Get the e-paper anywhere you

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Digest Jim Flaherty, Finance Minister’s views on the Economy “If we were to see the situation globally deteriorate in a dramatic way, we would obviously do what is needed to protect our jobs and economy and families in Canada. We would act in a pragmatic way, as we have done successfully, previously and recently.” "We have experienced seven consecutive quarters of economic growth. Almost 600,000 more Canadians are working today than when the recession ended in July 2009. Both the IMF and OECD forecast that our economy will be among the strongest in the G-7 this year and next." "Our economic and fiscal fundamentals are sound and sustainable," “We will stay the course. We will balance the budget by 2014-15,” Mark Carney, Governor, Bank of Canada on the Economy “The balance sheets of private sector companies are very strong. They have a lot of liquidity and there are many opportunities as we have just discussed in emerging markets and a lot of opportunities to increase our productivity.” “Now the responsibility does start with the individual, it then goes to the financial institution that is lending them the money but it is important that both we point this out that interest rates will not always be at these exceptionally low levels, so think about your ability to service a mortgage, for example, over its full life when interest rates are at more normal levels.”

Economy Aug 24 Housing starts should hold steady for the rest of 2011 and into next year. --CMHC

July 29. Canada’s budget deficit shrank in April and May from the same period a year earlier as revenues increased by 2.9%. Shortfall for the first two months of fiscal 2011-12 was $3.3billion. Last year for April and May deficit was $4.43-billion.

Statistics Canada Aug 19 The consumer price index rose at an annual pace of 2.7 per cent in July, down from a 3.1per-cent increase for June. – Well; inflation was below a pace of three per cent since February. It is a good news.


Aug 17 Almost one person out of four in the labour force could be aged 55 or over by 2021. By 2031, roughly one in every three people in the labour force could be foreign-born. Aug 11 Canada's trade deficit with the world grew to $1.6-billion in June, climbing from $1-billion in May. Aug 5. The jobless rate fell to 7.2 per cent, its lowest level in more than two years, and down from 7.4 per cent a month earlier. Decline was partly caused by a drop in the number of people looking for work. July 29. Real gross domestic product decreased by 0.3 per cent in May, much worse than the 0.2 per cent gain that had been expected. Growth was flat in April.

consumer debt has increased by half over the last five years, now up to $1.5trillion from $1-trillion in 2006. On a per capita basis, the average Canadian carries $44,115 in outstanding debt. Although mortgages account for a large portion of personal debt in Canada, CGA reported some less reassuring findings. Fifty-seven per cent of surveyed consumers said that daily living expenses were the primary factor in their increasing debt, with households with an income of $50,000 and under being six times more likely to default. The report also reported a debtto-income ratio of 146.9 per cent, meaning that consumers owe $1.46 for every dollar of disposable income.

Real Estate In the first half of July, the average resale price of a stand-alone home in Toronto was $720,808. A month later, in the first half of August, it was $597,093 -- a 17-per-cent drop ? No Not really. Ÿ Possible reason: Fewer expensive sales Aug 26 . Toronto Real Estate Board (TREB ) said in a release, “ proposed Virtual Office Website Policy. will provide REALTOR® Members the ability to enhance the portfolio of services offered for the benefit of their customers. TREB's VOW policy will allow consumers to access REALTOR® Member's secure password-protected websites to search MLS® listing data, while at the same time having the benefit of a REALTOR® Member's oversight, supervision, and accountability.” Aug 16 The Canadian Real Estate Association has revised its forecast for home sales upward for 2011, citing stronger-than-expected sales and prices in the second quarter and good momentum. Other Highlights: Ÿ Sales activity was stable from June to July, but posted a big year-over-year gain due to weakened demand in July 2010. Ÿ Year-to-date sales continue to run in line with the ten-year average. Ÿ The number of newly listed homes inched up by less than one per cent from June to July. Ÿ Upward skewing of the national

Personal Finance Aug 26 The Ontario Securities Commission accused Chinese timberland company Sino-Forest Corp. of fraud and stopped trading of the company's Canadian-listed shares on Friday.

“Sino-Forest and certain of its officers and directors appear to have misrepresented some of its revenue and/or exaggerated some of its timber holdings,” the Ontario regulator alleged in a temporary order. Aug 24. The Conference Board of Canada says in its monthly survey that its index of consumer confidence fell in August to its lowest level, (74.7) since July, 2009. This survey was conducted during a recent wave of stock market turmoil (Aug 4 to 14). Aug 18 The number of people receivin g r e g u l a r E m p l o y m e n t Insurance benefits held steady in June following eight months of decline. Nationally 577,400 are receiving EI benefits, only 100 more than in May. The number of beneficiaries is down in Ontario. According to CGA Canada's recent report, A Driving Force No More: Have Canadian Consumers Reached Their Limits?, the total amount of Canadian

Following is said to be a transcript of an "actual" radio conversation between a US naval ship and Canadian Authorities off the coast of Newfoundland in October/95. Americans : Please divert your course 15 degrees to the North to avoid a collision. US Naval Ship/Canadian Authorities Canadians : Recommend you divert YOUR course 15 degrees to the South to avoid a collision. Americans : This is the Captain of a US Navy ship. I say again, divert YOUR course. Canadians : No, I say again, you divert YOUR course. Americans : This is the Aircraft Carrier USS Lincoln, the second largest ship in the United States' Atlantic fleet. We are accompanied by three destroyers, three cruisers and numerous support vessels. I DEMAND that you change your course 15 degrees North, that's one five degrees North, OR counter-measures will be undertaken to ensure the safety of this ship! Canadians : We are a lighthouse. Your call! 2

average price is diminishing due to fewer expensive sales and a declining share of national activity in Vancouver and Toronto. Aug 11. Statistics Canada says its new housing price index rose 0.3 per cent in June, after a 0.4 per cent gain in May. On an annual basis, the index was 2.1 per cent higher in June than a year earlier. The agency says good market conditions in Toronto and Oshawa pushed up prices there and boosted the index as a whole. New home prices in the two communities jumped 0.8 per cent between May and June and were 4.7 per cent higher than in June 2010.

Mortgage Aug 25 Bank of Canada has not changed the rates. But RBC and BMO reduced their discounts on 5 year variable closed mortgage by 20 basis points, blaming higher borrowing costs for the decision. Other big banks are also expected to follow RBC’s lead. Aug 24 House prices may be up nationally, but affordability of the housing market hasn’t changed much yet in Canada this year, according to a new Royal Bank of Canada report.

Gold Gold lost five per cent of its value, or more than US$100, on Aug 24 in the biggest single-session drop since falling US$146 in September 2008, just before the recession spread to Canada. Korea, India, China, Russia and Mexico are on top of the increasing list of countries that are adding large quantities of gold to their reserves. Many analysts believe that this is the time to buy gold, anticipating further rise of the metal. On Aug 25 gold was trading in New York at $1,737 (U.S.) an ounce,

US News Aug 24 U.S. home mortgage applications for purchases fell to a nearly 15-year low last week as resurgent worries about the strength of the economy kept buyers at bay. Aug 23 The number of people who bought new homes fell for the fourth straight month in July.. Sales of new homes fell nearly 1 per cent in July to a seasonally adjusted annual rate of 298,000, the Commerce Department said Tuesday. That’s less than half the 700,000 that economists say represent a healthy market While new homes represent less than one-fifth of the housing market, they have an outsized impact on the economy. Each home built creates an average of three jobs and $90,000 (U.S.) in taxes, according to the National Association of Home Builders. Aug 22 The U.S. Mortgage Bankers Association said Monday that 8.44 per cent of homeowners missed at least one mortgage payment in the April-June quarter.




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f you have any questions on refugee claims, ask your question to him. His answers will be published here in future issues. Who is a refugee? How Canada processes the refugee claims? Generally a person in need of protection is a refugee. There is one more kind known as convention refugees. The Refugee Protection Division (RPD) decides refugee claims made by people who are in Canada. It holds refugee determination hearings or uses other processes to come to these decisions. Citizenship and Immigration Canada (CIC) decides refugee claims made by people outside Canada. For example, people living in refugee camps in any part of the world can apply. Who are Convention refugees? Convention refugees are people who have left their home country and have a well founded fear of persecution based on: Ÿ race Ÿ religion Ÿ nationality Ÿ political opinion or Ÿ membership in a particular social group Who are person in need of protection? Person in need of protection are people whose removal to their home country would subject them personally to: Ÿ A danger of torture Ÿ A risk to their life, or In Part 1 of this article, I explored Space deprivation and Space management. The article also covered #'s 1 & 2 from the following list: With what does Space provide us? Among other things: 1. Space provides us with movement. 2. Space provides us with growth. 3. Space provides us with potential. 4. Space provides us with freedom. 5. Space provides us with relationships. 6. Space provides us with selfdiscovery. 7. Space provides us with perspective. Let's probe #'s 3 through 7. 3. Space provides us with potential A blank canvas, an unmarked page, an open plot, a bolt of fabric, an empty music staff, etc., are all examples of potential waiting to be expressed, defined, - realities to be created. They are specific areas of Space as yet unfilled with words, images, designs, notes, or seeds. Add imagination magic, take the necessary actions, and voila! Something springs into being that was not there before. Had there already been a sketch, story, rose garden, 3-piece suit, up-beat pop tune, even in the rudimentary stages, the opportunity for creation would have evaporated, leaving instead innovation or improvement on what already existed. Space invites creation, the exploration of potential. Our environment should provide us with enough unfilled Space for us to glimpse potential and manifest


Sadick Keshavjee answers questions on refugees and refugee claims Ÿ A risk of cruel and unusual

How about sharing some of your experiences in this regard…? Sure. I was acting for someone born in one country, renounced citizenship of that country and then became a citizen of another country. We successfully showed that he could never get citizenship rights in that first country, and that he would be marked in that first country, as they had it on file that he had renounced his citizenship there. The risk that the claimant was suffering had to be the case in every part of the country. I was again involved in a case where a refugee claimant was a visible minority jeweller. We had to show that a person of such characteristics would easily be identified in every part of the country, cities and secondary cities. The claimant has to show that there was inadequate

treatment or punishment However, with respect to the risk to life or the risk of cruel and unusual treatment or punishment, there are some limits: Ÿ The risk in question must exist throughout the country Ÿ The risk must be personal, it cannot be a risk faced generally by other people in or from the country. Ÿ The risk must not come from a lawful punishment or penalty that meets accepted international standards. For example, the risk of being jailed for having committed a crime such as murder. Ÿ The risk must not be caused by the country's inability to provide adequate health or medical care.

state protection. In a certain case we had to prove that not only was there no state protection, but that agents of the state were actually involved in the persecution. Refugee law is very complex and involved. These examples are simplistic. Each case has its own twists and turns so don't take these examples as statements of the law as it currently stands. How do you make a claim for refugee protection? To claim refugee protection, you must first notify and immigration officer within Canada. Any person, who is not a Canadian citizen, can claim refugee protection. Refugee law has been recently amended. Now an interviewing officer collects info from a claimant. This replaces the old PIF (personal information form) This is after claimants from certain countries are automatically rejected. The courts would have to rule on the validity of such claims as claims can be made from a country seemingly quite democratic, if, for example there is a family feud, or a police officer is persecuting someone. Sadick Keshavjee is a licensed immigration counsel, and also does refugee claims. He can be contacted at 416 422 3313 or email : website:



it. If your workspace is crowded, or you can't see your desk for the papers, no potential will be evident. Finish existing projects before starting new ones. Clear your work area every day. Organize your supplies in an orderly manner. Then you'll invite Potential and it's twin, Inspiration. 4. Space provides us with freedom. We considered the analogy of the prison cell in Space deprivation. Incarceration also means a drastic loss of freedom. Prisoners are restricted in movement, time and activity. All are externally dictated. But what happens when we are our own prison wardens? Every possession we have demands upkeep and care. How many hours a week can you realistically devote to dusting? Old and unused items take up Space, time, and energy that might be employed with new activities or even left open for movement, circulation and spontaneity. Begin by eliminating broken items, too costly to repair, (effort AND money). Next, sort in terms of passion. If you love it, it stays. If you are tepid, let it go. Do keep practical things used on a regular basis, even once a year, like a paper shredder to eliminate old documents. But please, lighten your load, and give yourself some freedom from your chattel. 5. Space provides us with relationships.

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How can your best friend come for lunch when your table is piled high with 3 years of tax receipts? Where will you make mad, passionate love if stacks of laundry cover the bed, stuff is all over the floor, and the bath is filled with kids' toys? Our relationships need Space for interaction to take place. If your dining room seats eight comfortably you can't really have a family re-union sit-down dinner for 60. Instead rent a restaurant or banquet hall, or have a buffet stand-up throughout the house. The amount of Space determines the quantity and quality of interactions. A small group, seated together over several hours, can find intimacy and depth of conversation while the stand-up buffet offers pass-by encounters with lots of distractions. Too much crammed into a Space deters relationship because we must contract our personal Space for survival. That becomes our focus, not relating. 6. Space provides us with self-discovery. 'Know thyself' has been the message of the world's masters, prophets and avatars. 'Knowing thyself' as the objective of life was Socrates' guiding principle. When we know ourselves, we know the entire Universe and thereby discover profound 4

understandings about all Creation. Unhappiness, fear, sadness, doubt, and all the negative emotions become meaningless. If we are engaged as 'Human Havings', equating who we are with what we have, and always pursuing further acquisition, we can't experience ourselves as 'Human Beings'. Things are meant to assist our experience in life, not to become our raison d'être. 7. Space provides us with perspective One of my favourite cottage-country activities is lying on the dock, watching the night sky. I experience such wonder at the vastness, the innumerable points of light, and the miraculous shooting stars. I feel awe about Creation and my place in it. I also enjoy driving on the highway with a vista that extends to the horizon stretching before me. It's hard to gain this expansive panorama in a city, bound by skyscrapers, and forced into a vertical paradigm. What about perspective in our living spaces? Do your exterior views allow you to gaze beyond the treetops? Can you see clearly down your hallway? Are doorways unobstructed to provide free access? What we see establishes our outlook. This was ever driven home when Space travel allowed us to see our Blue Jewel Planet Domicile for the first time. That was certainly a lesson in perspective! Janine Gwendoline Smith is available for Decluttering/Organizing/Staging Services, Coaching, and Consultation. She can be reached at: Tel: 416-694-7070 E-mail:



evelopers are real estate entrepreneurs with great ideas, energy and the contacts to visualise and achieve exciting projects. To translate these ideas into soaring buildings or sculpted neighbourhoods, they perform extensive due diligence, acquire the lands, obtain development approvals and build the project. The whole process requires 'soft cost' money or equity capital. Developers can offer the project property as security with investors and the banks to raise the required money. One way to do this is through a syndicated mortgage. Syndicated Mortgage is a mortgage funded by a group of private investors, who participate in one mortgage at a time. Each investor is individually registered and secured proportionally; allowing consumers to invest directly into large scale Real Estate Development projects with real security and the ability to earn real returns. In an era of volatile stock markets and mutual funds, this article highlights an alternative to traditional fixed income options. Any investment carries risk, even traditional instruments like bonds. Cash, in particular, carries inflation risk (same money buys less goods over the years) and can be exposed to currency fluctuations. Bonds value may decrease, if interest rates increase. Syndicated Mortgage is no exception and the associated risks are detailed further. Generally speaking, you would like to consider the following aspects before choosing any investment that meets your goals. Ÿ Regular current Income &/or Capital appreciation. Ÿ Tax benefits Ÿ Safety of principal or getting back the principal amount Ÿ Liquidity or easy saleability Ÿ Inflation protection or guarding against losing the value of money Ÿ Leverage or using other people's money to accumulate wealth Ÿ Suitability for RRSP, TFSA etc. Ÿ Based on the above criteria, we shall analyse syndicated mortgage investment. Ÿ An investor in a syndicate mortgage will receive a regular fixed interest payment for his or her investment in a project. There may also be the potential for additional earnings through a profit sharing arrangement based on criteria presented to the investor at the time of his or her investment. Ÿ No special tax benefits are available. Ÿ It is comparable to REITS listed on the Toronto Stock Exchange depending on what asset class is being invested in. Ÿ Investor has to stay in the investment for the committed period. Usually it is 2 or 3 years. Ÿ Generally, real estate investment is considered as a protection



An alternative to the traditional investing against inflation. This is a form of real estate investment that provides direct charge/security against the land. Remember real estate also has cycles, similar to business cycles. Ÿ In an era of low interest rates, by using this investment vehicle, you can lower your mortgage debt faster if you apply the higher earnings from the syndicate mortgage to a presumably lower rate residential mortgage Ÿ You can move your RRSPs, LIRAs, RIFFs, RESPs & TFSAs and of course open funds (cash) investments into syndicated mortgage investments. Monies in a TFSA savings account will grow tax free. G e n e r a l l y, m i n i m u m investment is specified to an investor for participating in the syndication. However there is no ceiling or maximum amount that one can contribute. When the loan matures and is paid out, the funds are returned to the investor. A higher rate of return (as compared to most bonds with similar terms) and reasonable commitment horizon (usually 2 to 3 years) are some of the primary benefits for the investors. The underwriting process offers more options than traditional banking institutions. This flexibility allows Mortgage Syndication to fund a variety of large scale projects such as downtown condos, malls and multi-story complexes. With an ever increasing population, there is high demand for this type of financing in Canada. Developers of the project get bank financing after a certain stage for construction purposes. They need additional capital outside of the funds the bank provides to buy the land and finance the construction. The company that organizes the syndicate selects the developers to participate with. Developers are carefully screened and they contribute their own equity and cash also at prescribed intervals. A successful track record of the developer and quality appraisals are critical. “Loan to value” ratio of a deal ensures the safety margin available for investors. Since investment is secured against the land/property, the valuation of that asset is key. In the event of any problem with the project, the asset can be sold to help recover principal investment. Appraisals are provided by

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qualified professionals such as AACI designated members and other real estate professionals. As already mentioned, syndicated mortgage investment also carries certain risks. Some of them are: Ÿ Failure of the developer or development. Ÿ Real Estate Cycles & Bubbles. Ÿ Cost over runs and delays. Ÿ Zoning risks Ÿ Low pre-sales & Ÿ Inadequate financing Ÿ Like the banks, the lender takes steps to minimize these risks. They are Ÿ Proper critical appraisals and engaging third party research companies to provide detailed analytics to assess the value of a property or parcel. Ÿ Ensuring proper equity margin of the developer in the project. Loan to Value ratio is one of the criteria in this regard. Ÿ Ensuring proper zoning before committing to the project. (Zoning approval delays have been the major cause of failure in many projects) Ÿ Promoter's successful past tract record & strong sales objective. Ÿ Insuring and bonding of all high rise projects (This step will 5

insulate investors from delays and budget stress). Ÿ Obtaining performance bonds (Performance bonds are a type of insurance taken out on high rise construction that protects the development and investors from a variety of exposures. Together with labour and material bonds and a builder's risk policy, they form a complete risk management solution. This does come at a cost to the project and is a necessary expense for any project so that the investors are protected). Despite all the precautions, if the developer or development fails, lender in advance, usually work with the developer to find a solution that could include: Ÿ a payment to investors in exchange for an extension Ÿ an institutional refinance to buy out the Syndicated Investors If these cannot be achieved, then the process would commence to sell the property to recover the investor monies. This is a significant advantage to being secured via syndicate mortgage; recovery of the syndicated investment will take priority over all unsecured debts, monies owed by the corporation and even construction liens. Finally, all markets are cyclical and real estate is no exception. That's why many syndicate lenders focus on shorter development cycles of about 3 years to avoid getting caught in lengthy rezoning delays that can hurt projects. The key is a sound strategy that can be repeated as a long term cash flow and growth model. This is an informative article only. It is better to consult your trusted advisor before acting on any such information. For further information and free consultation, you may contact the author at 416 473 6100 or email


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fter reaching the limits of s u s t a i n a b i l i t y To r o n t o ' s housing market is becoming somewhat moderate in sales and prices. It is a good sign. The mortgages are already tightened. The problem in the past was that the value of homes had increased much faster than incomes. Though, we do not anticipate any major correction in the near future, careful monitoring of personal finances and investment in any type of real estate market is required. Emergency savings or access to line of credit in case of emergencies is the basic thing that people should remember. In fact, it is the foundation of all financial planning. Times like this are not suitable for any kind of risky activities. If your goal is speculation, then it is a different ball game. Whether it is a stock market investment or real estate investment, Editor-in-Chief & Publisher Perrii Muthuraman Direct : 416 473 6100

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Financial advice that fits for all everything requires proper planning and careful execution. In our view, interest rates will continue to remain at the bottom for many more months. Even when Bank of Canada raises the interest rate, we believe, it will not be significant at least for two years. Struggling American Economy and Strengthening Canadian dollar will continue to keep the interest rates low. This is our opinion.

Debt reduction must be your goal, so long as you have major debts. This strategy will keep you away from the temptation of any risky investments. For example, if you have been aggressive in repaying your debts and mortgages, you can always borrow back against the equity of your home. That may help to convert non-tax deductible debts into tax deductible debts. Do Canadians in the financial and real estate sectors feel a little bit



s stock prices have gyrated wildly, many investors have behaved in a perverse fashion, selling low after having bought high. Individual investors bear some responsibility for illadvised responses to the ups and downs in the market, but they are not the only ones to blame. For decades, the mutual fund industry, which manages more than $13 trillion for 90 million Americans, has employed market volatility to produce profits for itself far more reliably than it has produced returns for its investors. Too often, investors believe that mutual funds provide a safe haven, placing a misguided trust in brokers, advisers and fund managers. In fact, the industry has a history of delivering inferior results to investors, and its regulators do not provide effective oversight. The companies that manage for-profit mutual funds face a fundamental conflict between producing profits for their owners and generating superior returns

offerings. In 2010, investors redeemed $152 billion from one-star, two-star and threestar funds and placed $304 billion in fourstar and five-star funds. In the crisisscarred year of 2008, even as investors withdrew $174 billion from one-star, two-star and three-star funds, they added $47 billion to four-star and five-star funds. Year in and year out, flows to fourstar and five-star funds prove remarkably resilient and overshadow flows to the three bottom categories. This churning of investor portfolios hurts investor returns. First, brokers and advisers use the pointless buying and selling to increase and to justify their alltoo-rich compensation. Second, the mutual fund industry uses the star-rating system to encourage performancechasing (selling funds that performed poorly and buying funds that performed well). In other words, investors sell low and buy high. Ill-advised buying and selling of funds costs the investing public a substantial sum. In 2010, Morningstar found that if mutual fund investors in 2000, as a whole, had simply bought and

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At Dreams & Money, we want to help people lead happy lives. We want to help people reach their dreams. A lot of dreams in the world require financial awareness and proper planning to bring to fruition. To get this financial knowledge can be challenging. We realize this, and want to make this process simpler. We will bring you financial news happening around you that impacts you, along with timeless classics on topics like financial planning, life skills, health etc. to help you grow all around to reach your dreams. If you are someone who shares this same passion, and think you can contribute to us in any way (writing articles, spreading the message etc.), please let us know. We’ll be happy to hear from you.

smarter? May be or may not be; but the truth is that it is the system (in Canada) that protects the real estate sector. Better to rely on one's prudence too. Many Canadians lost their life savings significantly in the 2008 stock market crash. Although most have recovered from the crash, some experts are warning that roller coaster days are not yet over. Think before you act and never act in haste. If you don't know something, learn from the people who may know it.


The Mutual Fund Merry-Go-Round

DISCLAIMER Dreams and Money takes care to present all the information as accurately and efficiently as possible. Any advice or recommendation appearing in the paper is also part of information only. They should not be construed as an expert opinion. Please note that no representation or warranty with respect to the accuracy or the completeness of the information is given. Information always keeps changing. Hence all the information, including advice and recommendations are to be treated as of general nature only. For your specific circumstances, you are always advised to consult an expert before acting on any information.




for their investors. In general, these companies spend lavishly on marketing campaigns, gather copious amounts of assets — and invest poorly. For decades, investors suffered below-market returns even as mutual fund management company owners enjoyed marketbeating results. Profits trumped the duty to serve investors. Mutual fund companies, retail brokers and financial advisers aggressively market funds awarded four stars and five stars by Morningstar, the Chicago-based arbiter of investment performance. But the rating system merely identifies funds that performed well in the past; it provides no help in finding future winners. Nevertheless, investors respond to industry come-ons and load up on the most "stellar"

held their funds for 10 years, their investment outcomes would have improved by an average of 1.6 percentage points per year. That 1.6 percent may not sound like much, but it adds up to tens of billions of dollars per year. Another Morningstar study, in 2005, examined 10 years of returns for 17 categories of stock funds. In each category, the actual returns — after taking into account the ill-timed buying and selling — fell short of the returns that were advertised to the public. More stable funds performed better; more volatile funds performed worse. Highly volatile technology funds, for example, generated annual returns that were a stunning 13.4 percent below the reported results, as a direct result of monumentally mistimed buying and 6

By David F. Swensen Chief Investment Officer

David F. Swensen has been the Chief Investment Officer at Yale University since 1985. He is responsible for managing and investing the University's endowment assets and investment funds, which total about $16.3 billion. Realizing an average annual return of 11.8 percent on his investments over the ten years to 2009, Swensen's consistent track record has attracted the notice of Wall Street portfolio managers.

selling. Holders of less volatile conservative allocation funds suffered only a 0.3 percent annual deficit. Even while the investing public suffers from exposure to funds with volatile performance, the mutual fund industry benefits. With a volatile set of offerings, the fund companies will always have some (temporarily) strong performers that rise to the top and earn the four or five stars needed for marketing to a gullible public. Of course, the volatility cuts both ways, ensuring that erstwhile top performers fall to the bottom and end up with one star or two stars. From a business perspective, however, all is not lost, as a number of one-star and two-star funds, with sufficiently volatile strategies, will rise phoenix-like from the ashes and join the exalted ranks of four- and five-star funds. Why isn't there more of an outcry? Investors naively trust their brokers and advisers. Most understand too little about financial markets to make informed decisions, intervene too frequently in counterproductive ways and gather too little information about portfolio holdings to evaluate results. Investors like to believe they are doing well, even when they are not. Meanwhile, the mutual fund industry shouts through a megaphone, making campaign contributions to influence politicians and lobbying to avoid regulation. Without any offsetting pressure from the investing public, Wall Street crushes Main Street. What should be done? First, individual investors should take control of their financial destinies, Turn Pg.10








Bank of Canada raises rates by 25 basis points

* Changes in housing index based on June 2005 prices. In September of 2009, the index was 127.89. Compare the coloured outlines around the quotes to the below legend to see where they stand on this most controversial issue.


Light Warning

Tentative Calm


2009 September

Duncan Hood: "On a month-over-month basis, the U.S. has seen house prices declining since 2006, while Canada's have been falling for only a year. Both countries saw a big spike lately, though. Will it Last?"



1.63* 1.1

HST is introduced

20, 2010 July

Douglas Porter

Douglas Porter (BMO): "I don't think it's a bubble yet... the quick turn is a vivid illustration that monetary policy still works..."

Scotiabank: "House prices are rich no matter how one looks at it."

Bank of Canada raises rates by 25 basis points

Paul Krugman

Canadian Centre for Policy Alternatives: "Canada is experienceing, for the first time in the last 30 years, a synchronized housing bubble accross the six largest residential real estate markets in Canada."

Mark Carney: "When borrowing funds, especially in the form of mortgages, households need to assess their ability to service these debt obligations over their entire maturity."




Mark Carney

Douglas Porter (BMO): "We're on the bubble of a bubble... We could see a bit of a buying frenzy coming this spring... followed by a 'pop' in 2011"

Gregory Klump (CREA): "New Listings are helping to balance the market and are letting a little bit of air out of the tires... We are starting to see affordability eat into demand."

Jeff Rubin: "This is an inflationary world, not a deflationary world, and today's interest rates are a total head fake."

CIBC: "Make no mistake, Canada is not doomed to see a U.S. style housing and mortgage blowup."

David Rosenberg: "Even if this correction in housing is only a fraction as harsh as was the case south of the border, the economy, and the financial markets, are likely in for a rude awekening in coming quarters."




Bank of Canada raises rates by 25 basis points

Conference Board: "Canada's housing market will see a "pause" in price appreciation, but a free-fall.


Mark Carney: "Investment in housing has outstripped their total savings for over nine straight years... This cannot continue."

2010 Jeff Rubin

ember 8, 201 ep t

Jim Flaherty: "Our concern is always ensuring that the housing market does not overheat, and in particular that the mortgage market doe not overheat." However, he does not intend to introduce new rules yet.

CAAMP: "Virtually every Canadian who is in a position to buy a home and qualify for a mortgage is well-educated and capable of assessing what is in their best interests, of looking forward, and of anticipating threats to their financial well-being."



Nathan Janzen (RBC): "Builders have continused to respond increasing the number of new homes... The talk that housing markets are getting overheated is still a future concern; we haven't seen a bubble."

The Wall Street Journal: "As the U.S. struggles to get out of its housing slump, its neighbor to the north faces a different challenge: Canada's housing recovery has been so rapid that some here are worrying about a bubble."

Royal LePage: "House-price growth now sits just below the long-term annual average of approximately five per cent, but once this is adjusted for inflation... appreciation is right on track."

Craig Alexander (TD): "The relentless rise in household debt in Canada... is a growing cause for concern. Since the mid.1980s, total household debt as a share of PDI in Canada has almost tripled.

Bank of Canada: "In (our) view, it is premature to talk about a bubble in Canadian housing markets."


Mark Carney: "We're not forecasting an abrupt correction, but it is a possibility, given two factors: the speed with which house prices rose and, secondly, the absolute weight of debt in the economy that is tied to housing.

November BMO: Canadian homes are "Pricey, not dicey."

Dean Baker warns that housing prices in Canada could decline by 25-30% (B the way, he predicted the US bubble - he's a pretty big deal.)

Stephen Jarislowsky: "I am convinced there is a housing bubble in Canada.

Jim Flaherty: "The evidence is not there that Canada has a housing bubble. Infact, the evidence with respect to affordability of mortgages in Canada is solid and we have a stable market."

David Dodge: Prices "look pretty high by any conventional measure." Dean Baker


uary 16, 201 ebr Flaherty Introduces new mortgage rules


National Bank Financial: "September's drop (in prices) not with standing, we do not think that a significant price correction looms in housing."

Bank of Canada: "At the moment, we are certainly seeing a certain amount of the recovery in the Canadian economy coming from the housing sector... I would certainly not say we are looking at a housing bubble."


Mark Carney

Adrienne Warren (Scotiabank): "We expect continused strong demand and pricing through the spring (which) should give way to more subdued activity in the second half of the year, as higher interest rates and higher home prices erode affordability."


il 19, 2010 Apr

IMF: Home prices are "elevated" without suggesting "a bubble in housing markets."

1.08 2011

Robert Cavies (BMO): "After a blistering supplystarved recovery, Canada's housing market is gradually returning to balance."


0.52 Stephen Dupuis (BILD): "Bubble worries are a thing of a past... (2011 will be) healthy, not hyper"

Flaherty's new mortgage rules come into effect

CMHC: "Soft landing is a nice way to describe it... I don't see a reasonable scenario where the housing market would crash." TD: Housing bubble fears are "pretty out th window now".


Kate Warne

TD: "Sidestepping both worst-case scenarios of a bubble and crash the resale market appears to have landed safely, and some what earlier than we anticipated three months ago."

Mark Carney: "Low rates today do not necessarily mean low rates tomorrow. Risk reversals when they happen can be fierce: the greater the complacency, the more brutal reckoning."

Kate Warne and Craig Fehr (Edward Jones) warn that the Canadian housing marketing is due for a correction

Kate Warne

0.44 David Rosenberg:"...the bank turned out to be 100% correct in hiking interest rates early so as to defuse what was becoming a housing bubble in Canada. So far, it looks like it has let the air out of the balloon with out having to burst it."

0.34 Flaherty: "I think (the housing market is) going in the right direction."

The NY Times: "...instead of worrying about the recovery of the real estate market, same Canadians are concerned about the prospect of a price bubble."

David Rosenberg: It would not be out of the realm to see a correction, using nationwide average home prices as the benchmark, of at least 20 per cent."

Conference Board of Canada reports that consumer confidence in the housing market has up by 3.9% in November.


Micheal Parkin (CD Howe Institute) "When the overnight rate does begin to rise, the changes must be as aggressive as the rate cuts of 2008 and 2009 with increases of 50 basis points at every announcement date until mid-2011 not seeming unrealistic."

C.D. Howe Institute: "The small number of highrisk loans underwritten suggests that the modest decline in house prices predicted for 2011 is very unlikely to trigger a U.S. style in foreclosures."


David Rosenberg: "At a time when personal income is down about 1% over the past year, we have seen nationwide average home prices soar 21 per cent to hit a record high, as did home sales."



Paul Krugman: "...Canadians borrow and spend like, well Americans."



Roger SauvĂŠ (The Vanier Institute of the Family): "For far too many, there is too little income, too much spending, too little saving, and too much debt."

Hugh Heron (Heathwood Homes): "Prices are only going to go up, especially when you consider that we're running out of plces to build in the GTA."

July 1, 2010

October November

C.D. Howe Institute: "Does the simple experience of short-term interest rates being so low, for so long, encourage people... to mortgage themselves more than they otherwise would, and buy a bigger house than they otherwise would... and get themselves into trouble longer term?"


June 1, 2010 June


y 17, 201 nuar Ja Flaherty 1 introduces new mortgage rules

Jim Flaherty Flaherty: "We're seeing people borrow to the max, and borrowing to the max at low interest rates... Most Canadians are not doing that."

Jim Flaherty: "We watch closely the level of indebtedness of Canadians, particularly in the housing market and there is no evidence of a bubble."


CIBC: "Canadians aren't on the verge of a U.S. style default crisis - not at these interest rates, and not with debt having been granted to stronger hand than was the case before America's crisis."




BMO: "While we do not expect a significant correction nationwide, the risk of such would increase, especially in some regions, if prices were to continue outrun incomes or if interest rates were to increase rapidly."

2011 February March April May

0.11 0.8 1.53 1.8

Looking to SECURE YOUR CAPITAL and receive a


We believe in 'old fashioned' value when it comes to investing. Something is worth more when genuine value has been added to it, not just because the stock ticker says so. The Value of real estate returns is demonstrable, measurable and sustainable

Royal LePage: Vancouver price appreciation is a result of foreign investment, not low rates.

Mark Carney: "...Households will need to be prudent in their borrowing, recognizing that over the life of a mortgage, interest rates will often be much higher."


Capital Economics: "Relative to disposable income per capita, our calculations suggest that housing is around 25% overvalued."

We offer real collateral and security to investors in the form of a direct charge against real estate, a unique feature available only through syndicate mortgages. Projects include interest reserves to make ensure funds are paid out at the proper intervals. Most importantly, all high rise projects are bonded and insured to protect the development and investors from cost over-runs.

Jim Flaherty: "We just took action... (Which has already caused) moderation."

July Bank of America Merrill Lynch: "Mortgage insurance rule changes by the Department of Finance over the past three years have barely offset the decline in rates... Canadian household leverage has now passed that of their U.S. counterparts." TD: "Toronto and Vancouver are the two most vulnerable markets... We can expect to see a decline in the next seven to eight quarters."

As investor, you'll be able to individually weigh and choose between all of the available projects. You're not buying through a blind pool or a fund: you can actually see and select which project make sense for you and your investment objectives. Eligible to be held in your RSP, LIRA, RIF and LIF accounts, This is also available to 'non-accredited'

RBC: "The economy is picking up and so whatever we'll see in terms of impact from interest rates will be compensated by job growth."

August Trend Line Research: "Considering the momentum in play within present economic recovery, it is not unreasonable to expect a repeat of that long-term sideways correction."

Q1 2010

Q2 2010

Ÿ8% Annual return (non-compounded) Ÿ12% flex return based on project's

performance ŸStandard term is 3 years ŸRSP, LIRA, LIF, RESP, TFSA eligible ŸLoan to Value Ratios of typically 50% to

80% ŸInvestment is secured by a charge on

real estate ŸCertified appraisals and/or valuation


Profit Participation Interest

Year 1

Q3 2010

Year 1 $ 8000

Year 3

Perrii Muthuraman 416 473 6100

Example on $ 100,000 Investment Principal: $ 100,000 Interest (Paid Quarterly) Principal Repayment Profit Sharing Total Inflow Net Return

Year 2

Interested? If So Please Contact:

Investment Summary




Year 3 $ 8000 12%




Total $ 24,000 $ 100,000 $ 12,000 $ 136,000 36%

This is not an offer to sell securities. Any investment must be made pursuant to an offering memorandum for the relevant province. Interested persons are invited to obtain a copy of the offering memorandum. Fortress is available to both non-accredited and eligible investors. Fortress Real Capital is a product, not a mortgage brokerage. Licensed mortgage agents/brokers close all the transactions. Approved persons and organizations may enter into referral arrangements with Fortress Real Capital and/or Centro Mortgage and will be compensated for having referred, directed or introduced prospective investors/lenders to Fortress Real Capital/Centro Mortgage. All Mortgage transactions in Ontario (Investors/lenders and subject properties domiciled in Ontario) are performed by Centro Mortgage Inc.

Q4 2010

Q1 2011

Q2 2011

Q3 2011





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Tentative Calm



Please Visit to subscribe

Source :

Excerpts from a dictionary real estate and legal terms redefined humorously Asking Price- Amount set on property that brokers think is too high, sellers think is too low, and buyers think will be twice the final selling price. Base line - "Your property is worthless." Closing - Act of God Concrete - Substance in which feet of buyers and sellers get stuck. Developer - Muscle builder who converts raw land into housing. Dummy - Same as absentee owner. Execute - To end the life of a troublesome person in a deal.

The dream of the older generation was to pay off a mortgage. The dream of today's young families is to get one. ...................................................................... If you think no one cares you're alive, miss a couple of house payments. ...................................................................... My buyers went through debt consolidation. Now they have only one bill they won't pay. ...................................................................... If you want to know exactly where the property line is, just watch the neighbor cut the grass. ...................................................................................................................... This country is great. It's the only place where you can borrow money for a down payment, get a 1st and 2nd mortgage and call yourself a homeowner. ...................................................................................................................... The trouble with owning a home is that no matter where you sit, you're looking at something you should be doing.

Real Estate



Some unsaid answers Real Estate Q: What is a house-warming party? A: The final call for those who haven't sent a wedding present. Q: How long is a temporary mortgage? A: Until the bank forecloses. Q: What is a maintenance-free house.... A: There hasn't been any maintenance in the last 10 years. Q: How close was the house for sale to water? A: In the basement.



re you an employee who wants to be an entrepreneur? If yes, please read on… World is either made of employees or entrepreneurs and often all employees are little bit confused about entrepreneurship and understanding entrepreneurs. Why entrepreneurs are different? The answer lies in their values and the ideas that they carry. Employees are often created from families which believe in good formal education which will lead them to degrees and certifications in a specialised area and thereby get a good employment in a descent company with good salary and benefits. Whereas entrepreneurs are created mostly from families who they believe in not just formal education but in informal education mostly real life experiences like working in a small business and learning form mentors. Entrepreneurs are mostly generalist than a specialist unlike an employee. And that is why when people work for entrepreneurial bosses in their companies they have a hard time adjusting with their bosses' expectations and their priorities. Let us see the major value differences between an employee and an entrepreneur. 1. An employee values his pay check more than the companies mission and vision, where as the boss wants to first give priority to the shareholders objectives and the overall mission The Mutual Fund Merry-Go-Round From Pg.6 educate themselves, avoid sales pitches and invest in a well-diversified portfolio of low-cost index funds, like those offered by Vanguard, which operates on a not-for-profit basis. (Even Morningstar concludes, in a remarkably frank study, that low costs do a better job of predicting superior performance than do the firm's own five-star ratings.) Such a strategy reduces the fees paid to the parasitic mutual fund industry, leaving more money in the hands of the investing public. Second, the Securities and Exchange Commission should employ its considerable regulatory and enforcement powers to encourage individual investors to embrace low-cost index funds and shun the broker-driven churning of highcost, actively managed funds. The S.E.C. should think outside the box in policing the behavior of the mutual fund industry. What about a requirement that every mutual fund offering be accompanied by an index-fund alternative, with the burden of proof on the vendor to justify the sale of a highcost product? Fund companies, brokers and advisers would have to list all fees associated with the fund offering, along with a description of the impact on expected returns. Over time, mutual fund purveyors would have to provide a headto-head comparison of the recommended fund and the index fund alternative (including the impact of taxes), demonstrating as clearly as possible the long-term superiority of low-cost, tax-




Barath Surendran

and the reason why other businesses fail is not just because of lack of capital, but because of lack of knowledge and skill. So, as an entrepreneur one has to understand the knowhow and develop the skills required to become a successful entrepreneur. Skills required for an Entrepreneur Basic Enterprise Leadership Skills

Value difference between employee and entrepreneur

2. Employees are mostly looking for their personal growth curve, where as entrepreneurs want organisational growth first. 3. Customers and their team comes first for an entrepreneur 4. Employees are looking for their safety, where as entrepreneurs are looking for their companies safety. 5. Employees are looking out for their career growth, where as entrepreneurs are looking for business growth. 6. Even if entrepreneurs change course they still stay in the business, where as if employee change course, he loses his job and starts all over again. 7. Entrepreneurs are looking for long term solution and is ready to sacrifice for short term gain, where as an employee looks vice versa. efficient index funds. Third, the S.E.C. should hold the mutual fund industry to a "fiduciary standard," one that puts clients' interests first. Currently, retail brokers operate under a weaker standard. As it carries out the Dodd-Frank reform act that became law last year, the S.E.C. must insist that brokers act as fiduciaries, not merely as agents who offer "suitable" investments. For all players in the mutual fund industry - brokers, advisers and fund managers - strong fiduciary standards and investor-oriented regulatory oversight would subordinate the pecuniary interests of the fund purveyors to the interests of the individual investors that the industry purports to serve. For two decades, laissez-faire attitudes toward financial markets allowed the rich and powerful to take advantage of those less well-off. In the mutual fund world, the hands-off approach must be abandoned in favor of aggressive, intelligent regulation. This is serious business. The financial security of millions of Americans hangs in the balance. Source :

Basic Marketing Skills

Basic financial Skills

How do we make the transition from an employee to an entrepreneur? This is the hard question and hundreds of books are written on the topic on how to become an entrepreneur but only few make the change. Becoming an entrepreneur is a process and one has to undergo the transition slowly which takes time and energy that many of them are not willing to take. Many think that quitting their job and starting a business will make them entrepreneurs. Yes, even though it is the first step, it will not make you an entrepreneur unless you are ready to learn the hard lessons along the way and which will also make your business successful. Many don't understand the very fact that out of 10 businesses started only 1 gets successful at the end of five years

As Robert kiyosaki says in his remarkable book “Before you quit your job” what you need to do is to acquire overall understanding and skills about Product development, Sales and Marketing (Communication), Operational Management (Creating Systems), Legal and Finance (Cash flow Management) And the only solution for the “wana be” is to get adequate knowledge and skills in the above areas and practise, practise, practise. Wish everyone happy entrepreneurship!

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WHICH CREDIT CARD IS RIGHT FOR YOU? enerally, there are three key factors that distinguish one credit card from another: Ÿ interest rates Ÿ additional fees and costs Ÿ rewards and benefits. Interest Rates If you plan to pay your balance in full every month and don't use the card for cash advances or cash-like transactions, you won't pay any interest. In this case, the interest rate may not be an important factor in choosing a credit card. However, if you usually carry a balance on your credit card, you may benefit from switching to a low-interest rate card, even if it has an annual fee. Many regular credit cards, including standard, gold and platinum cards, have low-rate options available. To encourage you to apply for their cards, some credit card issuers will sometimes offer low introductory interest rates on newly issued credit cards and on balance transfers. Additional Fees And Costs Credit cards may have other fees and policies that can increase your costs. For example, if you miss a payment, some credit card issuers may increase the interest rate that you pay. The amount of these fees and charges varies from one credit card to another, and you should consider them carefully when choosing a card. By law, all federally regulated financial institutions have to include information about fees and charges in their credit card applications. The information must be clearly set out in an information box at either the beginning of the application, or a related document that you receive at the same time. Be


sure you understand all of the fees and charges that apply to a credit card before you complete the application. You can avoid many of these fees and charges by using your credit card wisely Rewards And Benefits If you usually pay off your credit card balance every month, then rewards and benefits may make an important difference for you when you choose a credit card. Before you decide, be sure to consider the actual value of the reward program as well as any limitations there might be. Consider Whether You Need A Specialized Credit Card Most people are familiar with general use credit cards, such as “gold,” “platinum” and standard cards. However, there are specialized credit cards available that cater to specific needs. Some of these specialized cards include: Secured credit card A secured credit card is a card that requires you to pay the issuer a security deposit before you can use it. Your credit limit is normally set as a percentage of

your deposit (usually 100 percent or more). For example, if you pay a security deposit of $500, you would normally get a credit limit of $500 or more. You might consider applying for a secured credit card if: Ÿ you have no credit history in Canada, Ÿ you've had credit problems in the past and want to rebuild your credit score, Ÿ you've filed for bankruptcy in the past. What you'll need to obtain a secured credit card Before you apply for a secured card, be sure to ask the credit card issuer whether you will have to pay a fee and whether it will be refunded if your application is turned down. Your credit limit is normally set as a percentage of your deposit (usually 100 per cent or more). For example, if you provide the credit card issuer with a deposit of $500, you will likely be granted a credit limit of $500 or more. If you don't make your credit card payments, the credit issuer may use your deposit to pay down your credit card balance. Making all your credit card payments on time will help you build a credit history or rebuild a poor credit score. Once your credit score is considered satisfactory, you may be eligible for an unsecured credit card, such as a low-rate or regular-rate standard card. At that time, the security deposit may be returned to you if you decide to close your credit card account after paying off the entire balance. Most secured credit card issuers will pay you interest on your security deposit. Tips for finding a secured card Before applying for a secured credit card, check your credit report periodically with the two credit-reporting agencies in Canada: Trans Union and Equifax. If your credit report contains an error, have the error corrected immediately, since it may prevent you from getting an unsecured card. Here are some precautions you should take when looking for a secured card: Ÿ Be cautious about secured card offers from unknown institutions. If you have doubts about the integrity of a secured credit card offer, contact FCAC toll-free at 1-866-461-3222. Ÿ Beware of secured card offers from issuers outside Canada. If you have problems, it may be difficult to resolve them if the company is not located in Canada. Ÿ Avoid offers for secured cards that do not have a recognized brand name such as VISA, MasterCard or American Express. The lesserknown cards may be accepted at only a small number of stores or may require you to make purchases from

Here are 10 tips to help you use your credit card wisely: 1. Know what you're getting into. When you sign up for a credit card, you are entering a legally binding contract. Read the terms and conditions carefully to understand how they apply and what your responsibilities are. 2. Remember that having a credit card doesn't increase the amount of money you have available to spend. Continue to live within your means and your budget. 3. Your goal should be to pay off your balance in full by the due date every month. Carrying a balance means that everything you charge to your credit card actually costs you more than the purchase price, because you are paying interest. And the longer you carry a balance, the higher the cost. 4. If you can't pay your monthly balance in full and the outstanding balance is growing, you are spending more than you can afford and going further into debt.If you find yourself in this situation, stop using your credit card until you get your finances under control. Since interest is charged daily, try to make payments as soon as you can to reduce your costs. Also, consider asking the financial institution that issued your card to lower your credit limit if you're having trouble controlling your spending. 5. Avoid impulse buys, especially if you don't have the money available in your bank account to pay for the item. Ask yourself if you really need to make that purchase right away (or at all), or if it can wait until you actually have the

money to pay for it. 6. If your credit card has a rewards program, don't increase your spending or buy things you don't need just to get points. 7. Avoid taking a cash advance on your credit card. Unlike regular purchases, there is no grace period on cash advances from a credit card. You are charged interest from the day you take the advance until the day you repay the entire advance amount. Use your debit card instead if a merchant offers a "cash-back" option with your purchase or get cash from your account from your own financial institution's ABM. If you don't have enough cash in your account, look at your budget to see where you can scale back your spending. 8. Talk to your financial institution about your options if you need money for unexpected expenses. There may be alternatives to using your credit card that will cost less in interest, such as a line of credit. 9. Make regular payments to help build a good credit history. Paying the balancein full every month will show other lenders that you are a responsible borrower. 10. Make sure that you are aware of all the fees associated with your credit card. All federally regulated financial institutions have to include an information box in the credit card application, the credit agreement or a related document that comes at the same time. The information box has to highlight key information such as fees and the interest rate.



ALL ABOUT CREDIT CARDS A credit card is a card that lends the user a limited amount of money to pay for goods and services, with the promise to pay the money back by a certain date. Credit cards offer a convenient way to pay for goods and services and are usually a person's first access to credit. It's important to keep in mind that although useful and convenient, credit cards can sometimes be a very expens i v e w a y t o b o r r o w m o n e y. Understanding how credit cards work and knowing what your rights are as a credit card user can go a long way to helping you make your credit card work for you. a specific catalogue. Ÿ Make sure you understand all the terms and conditions associated with a secured card before you accept it. Student credit cards Student cards are meant for students with limited incomes and generally have lower credit limits than regular credit cards. Low-interest rate student credit cards are available. U.S. dollar credit cards A U.S. dollar card may be right for you if you often shop in the United States and have a U.S. dollar account you can use to pay your credit card bill. With a U.S. dollar card, no foreign currency conversion mark-up is applied to purchases in U.S. dollars. Retail credit cards Retail cards offer discounts or reward programs at specific stores or retailers. Retail cards generally have much higher interest rates than regular credit cards. This type of card can usually be used only at the store that issued the card. A retail card may be worthwhile if you shop at one particular store enough to benefit from its reward program. Be sure to weigh those potential benefits against any interest or fees you may pay. Caution: Sometimes retailers offer extended interest-free periods on purchases made with their credit card. The terms and conditions of these offers can vary, but generally, if you haven't paid the balance in full by the time the interestfree period ends, you will have to pay interest from the date you made the purchase. Since the interest rate for retail cards is higher than for regular credit cards, this can end up being very expensive. Retailers will also sometimes offer you an instant discount on your purchases if you sign up for and use a store credit card. While the discount is attractive, keep in mind that the interest rate on any balance that you carry on the card is generally much higher than with regular credit cards. If you aren't able to pay off the balance right away, the interest costs could be more than the discount. (Source : (For further information ;




Hypocrite Priest Once there was a devotee of God who had a longing to meet God. He did not know Punjabi and could not understand Guru Granth Sahib Ji. He heard of a priest who translates Guru Granth Sahib Ji and narrates the message of the Guru Sahib in English. He went to the priest and joined his congregation. The priest started describing the greatness and the teachings of Guru Nanak Dev Ji. He conveyed the message of Guru Ji. As Guru instructed he said, God can only be seen by meditating on Him and remembering Him for every moment. Just as you would remember someone you love and he/she is in your mind all the time, remember God and you shall meet Him. The priest was doing holy work but he was only doing it for money. As people would leave, they would present him with some money for his time and that is what priest wanted. The priest himself would not worship God and was concentrating on making as much money as he could. The devotee of God became a regular follower of the priest. He would come to the priest's congregation everyday, learn about Guru's

What is the purpose of life? A: The purpose of life is to purify yourself, meditate on God and eventually become one with God. God is the greatest spirit of all and our soul is a part of God. Our soul has been separated from God and it's dignity remains in merging back with God. Our Guru tells us, "This human body has been given to you. This is your chance to meet God. All other works are of no use. Join the holy congregation and meditate on the Name of God" (Guru Granth Sahib Ji, 12). The goal is to break away from the cycle of birth and death and attain salvation by being one with God. Our soul has been separated from God filled of many impurities such as lust, anger, greed, attachment to materialistic things, and ego. We are to purify our soul so that we can become one with God. We can do so by living an honest and humble lifestyle and meditating on God. In addition, "The blind have forgotten the Name of God. The selfwilled people are in utter darkness. Their comings and goings in reincarnation do not end; through death and rebirth, they are wasting away" (Guru Granth Sahib Ji, 19). The ones who do not meditate on God keep going through the cycle of birth and death while the one who meditate on God and love Him become radiant in His Kingdom.

message and while leaving, he would leave some money for the priest. However, in order to travel to the priest's congregation, the devotee had to cross a river. There was no bridge nearby, so he had to walk 1 mile south to get to the bridge and come back north for about 1

goes through the river. The priest asked that why does he go through the river, doesn't he get wet? The devotee replied that he never gets wet, he walks on water. The priest was astonished. The priest asked the devotee to cross the river first. The devotee crossed the river by walking on water. The priest had never seen anything like this before. He was wonderstruck and filled with astonishment. When the devotee reached the

other side, he asked the priest to cross the river. Having not meditated on God, priest hesitated but to preserve his honor he thought to give it a try. As he stepped in the water, he drowned. The devotee had to pull the priest out of the river. Moral: Hypocrites talk about God and the teaching of Guru Ji but they seldom follow the teachings themselves. God is always with the true follower of Guru Ji, even if the follower obtains his knowledge about God from a hypocrite

Guru Nanak and the Flying Carpet

mile. This would take him a lot of time. The devotee decided to ask for a solution from the priest. When he asked, the priest first asked for his fee. The devote paid him and the priest told him that if he worships God from deep within his heart and has trust in Him, God will make him able to walk on water and he will no longer has to walk 2 miles to cross the bridge. The devotee was impressed. He had a great trust in God and started worshipping him even more than he used to. He would wake up at 3AM in the morning, take a bath and mediate on God. He would also meditate on him while running errands and working. He recited the Name of God for each moment he could. A month passed and the devotee was walking along the bank of the river and he was getting late. He thought if be walked a mile to the bridge and then a mile back, he would miss the most of the day's sermon. So he decided to go through the river. As he stepped in the water, he did not become wet and neither did his foot sink in the water. He was actually walking on water. He was filled with joy and thanked God. He crossed the river by walking on the water and reached the congregation of the priest. After that day, he never crossed the bridge; he would walk on the water to go to the priest's congregation. One day, the devotee invited the priest to his house for a meal to thank him for his guidance. The priest accepted his invitation and headed along with him to his house. As they approached the river, the priest wanted to cross the river from the bridge. The devotee replied that he doesn't cross the bridge anymore and

Guru Nanak, Mardana and Bala, his two friends who always served him, traveled to the country of Kashmir. They came to the city of Sri Nagar and the people knew who he was because of his grace and his light. The people were very happy and blessed to sit with him and learn from him. In that city there was also a Pundit named Brahm Das. He was very learned and through his devotion to the goddess he had gained occult powers. When he heard that a great Guru had come to town he thought, "I don't think I will be that impressed with this new-comer. It is I who has great knowledge and supernatural powers. I will show him my skill. Sitting on this carpet I will fly over to where he is and there is no doubt that he will be totally impressed with my presentation." Sure enough he got on his carpet, levitated up and flew to where the large crowd had gathered around the Guru. Everyone seemed happy and engaged by someone. But he looked and looked but didn't see anyone there. He landed and asked the people, "Where is this 'Guru'?" The Guru, with his sweet voice and beautiful face, was certainly there. They were surprised and said to the pundit, "He's sitting right in front of you!" The pundit couldn't see the beauty around him. He tried to fly his carpet away but... it didn't work. None of his tricks worked and he had to walk back on foot carrying his carpet. Later he asked his servant, "Was the Guru in fact there?" "Oh yes he certainly was, he was so kind and beautiful and we all had a great time!" Everyone else seemed to understand but the learned pundit was confused, "Well if he was there, than why couldn't I see him?!?" He was shocked when he heard the reply, "It is because of your pride that you couldn't see." So the next day the pundit humbly walked on foot to meet the Guru. This time he did see the Guru among the crowd. The pundit bowed before the Guru, who is a friend to all. The Guru said, "Come sit over here." Pundit Brahm Das sat next to the Guru and asked, "Respected Guru, when I came here yesterday... why couldn't I see 12

you?" The Guru said, "How could you see in such extreme darkness?" "Darkness? But it was broad daylight when I came here yesterday!" The Guru replied, "Is there any deeper darkness than pride?" These words struck the pundit, "Because you can fly you think you are so great. Look around, the birds can fly, the insects can fly. Do you want to be like them?" The Truth struck home and the pundit confessed, "Forgive me, I see your wisdom great Guru. I have read sacred books and gained super powers but I'll admit... I have not found peace and happiness. Please tell me how I can touch the feet of the Creator." The Guru explained to him, "You worship gods and goddesses and just like humans they are temporary. You have followed men of great knowledge and you have become lost in that knowledge. That kind of knowledge which increases the

darkness of ego, will not help. Words are only meaningful when you realize the truth they represent. These are all just symbols. We must look within." The Guru sings beautiful songs. If someone is praised by all. If someone is powerful and tall. But there's no internal sacred call, it doesn't really matter at all. The Creator gives to us all the same. Let us lovingly sing Thy Name. The pundit dawned on the truth, "I have now learned to seek wisdom and happiness from inside and not from outside. In the future I will do my very best to get rid of my thoughts of ego and remain absorbed in the Naam by the grace of the Lord." If you have liked this page, you would also like similar story pages in the previous issues. To see the previous issues, please visit: Source :


Indian Market declined to 14 and half months lows on continuous selling by foreign investors and on concern over global economic slowdown. Growing fears of another recession in the US, the world's biggest economy, dragged the market lower. Investors investing in India are worried that higher interest rates will restrict corporate profit growth. A number of commercial banks have raised lending rates recently after the central bank raised its key lending rate by a steeperthan-expected 50 basis points at a policy review on 26 July 2011. Nifty fell below the psychological 5,000 mark. Foreign institutional investors have sold shares worth Rs 8053.88 crore this month, till 18 August 2011. There was a massive outflow of Rs 5279.30 crore in just three trading sessions between 5 August 2011 and 9 August 2011. FIIs have sold shares worth a net Rs 13093.13 in calendar year 2011 so far. Domestic institutional investors have bought shares worth a net Rs 20608.77 this year so far. Meteorological Department said that monsoon rains were 26% above normal in week to 17 August 2011, strengthening from a 14% above normal reading in the previous week. The June to September Southwest monsoon rains are crucial to crop production in 60% of the country that does not have adequate irrigation. The recent slide in global crude oil prices will help ease concerns of higher

Indian Market view & Market Outlook oil subsidy burden for the government provided the fall in oil price sustains. US crude-oil futures continued to slide as a deteriorating global economic outlook pushed investors away from risk assets, deepening concerns about demand for commodities. Market may continue to be volatile on expiry of near month derivative contract on Thursday 25th August 2011. FII selling will also affect the market sentiment. Higher interest rate will dampen the corporate profit. Redemption pressure for funds based in Europe may trigger selling by European funds in other markets around the world. Investor worries have escalated off late

over the health of European banks amid exposure to the euro zone's longrunning debt crisis and what's viewed as a lack of resolve among European leaders to tackle the problems. A recent correction in global commodity prices, including that of oil and metals augurs well for Indian manufacturing firms and also the government in reining in oil subsidy burden. Lower commodity prices may also help rein in high inflation. Commodities have plunged 16% from the April 2011 high on concern the sovereign-debt crisis is threatening global growth and demand for raw materials. Shares of non-banking



finance companies may edge higher on reports the Reserve Bank of India is shortly expected to release its draft guidelines for new private sector bank licenses to seek public comments Even though market seems to be volatile, Indian economy continues to be attractive when compared with other developing countries. This will provide NRIs to explore multiple options to invest their funds in their home country. There were many opportunities are available for NRIs to invest in Indian market. Now mutual funds are open up for foreign investors. So, foreign nationals can also participate in Indian equity market through this route. Apart from mutual funds, NRI can also invest in bonds issued by corporate. Bonds issued by corporate like L&T, Shriram Finance etc would fetch more interest than bank deposits. The options are many but, ensuring compliances with related to regulations of those investment opportunities and monitoring investment portfolio regularly would be a tedious job. We provide professional services to our clients. Investment queries and support service you can SMS at IFMAONLINE <space> <question> to 9246356765 or send mail to Mobile:09380034431. Login to our web site to register your questions in Forum session either in English or Tamil.

S&P/TSX Composite index

FROM AUGUST 28 2006 TO AUGUST 22 2011

FROM JULY 26 2011 TO AUGUST 25 2011


FROM JUNE 28 2011 TO JULY 27 2011

Aug 4 Canada's benchmark index is getting hit far harder than its U.S. counterpart . In late morning trading, the S&P/TSX composite index was down 330 points or 2.7 per cent, to 12,050. That's a considerably bigger dip than the 1 per cent retreat by the S&P 500. The jobs news wasn't great. Statistics Canada reported that the economy added just 7,100 jobs in July, less than half the gains that economists were expecting. Corporate earnings weren't great either. But for the most part you can blame commodities for this latest stock market setback August was a volatile period for financial markets that saw daily triple-

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digit swings and debt-rating agency Standard & Poor's downgrade the credit rating of the United States. You may note the historical high for TSX was on June 2008 Sir Isaac Newton said, having participated in the South Sea Bubble and losing about 20,000 pounds of his own investment, that: I can calculate the motions of the heavenly bodies, but not the madness of people. It is interesting to note that present day technical analysis has been inspired by Newtonian physics, like the concept of momentum




How to Predict Your Chances of Dying From Cancer A

re you at risk for cancer? Chances are if you eat a diet high in saturated fat, don't exercise regularly, smoke cigarettes daily, and can be classified as obese, you are at extremely high risk of developing and dying from cancer (not to mention heart disease and/or diabetes). But if you are reasonably physically active, eat a relatively healthy diet, don't smoke cigarettes, and are within striking distance of normal weight for a person of your height and build, what are you odds then? One recent study showed that men with these characteristics were 62 percent less likely to die from cancer and were likely to live 12 years longer than men who were inactive, smokers and obese. This would seem to indicate that following a healthy lifestyle over the long-term confers significant protection against dying from cancer. That's all well and good, but figuring out whether

you are doing enough to achieve this long-term cancer death protection is a little tougher. There is no precise prescription offered by scientists that defines how much exercise, how much healthy food, and what exact weight level offers optimum protection. Some studies show benefit from low-intensity exercise while others show benefit for high-intensity exercise. Other studies examine the benefits of a Mediterranean-style diet versus a Japanese-style diet. Weight-related research shows some benefit from being a little overweight versus being underweight. It would be nice to have a shorthand way of assessing one's cancer risk that was easy and quick to measure regardless of what lifestyle choices one makes. And guess what, there is such a measure: resting heart rate.

An easy and effective way to determine your risk regardless of lifestyle choices Well, this month a new study was published. It specifically examined the risk of cancer death in men using resting heart rate as the primary diagnostic measure. This study found that men with the highest resting heart rates (greater than 73 beats per minute) were 140 percent more likely to die from cancer than those with the lowest resting heart rates (less than 60 beats per minute). To determine your resting heart rate in the same manner as was done in this study, first lie down for five minutes to put your body at rest. Then, while still lying down with your face up, place two fingers on your wrist to detect your pulse (or on your neck where the carotid artery runs along your windpipe) and count the number of beats your heart registers in a 60second period. For greater precision, you can use a pulse rate monitor (typically a watch-like device that has electric sensors in it, or wirelessly picks up signals from a chest band sensor) or a pulse oximeter (a fingertip device that records pulse rate and the oxygen level of your blood). In this study, 6,101 French men with an average age of 48 had their resting heart rates assessed at the outset of the study (along with a number of other diagnostic measures). The study participants were then followed over a 25-year period, periodically returning to provide fresh diagnostic measures. At the end of the 25-year period, researchers determined 1,625 men had died with 771 of those deaths related to cancer (47 percent of all deaths during the follow-up period). As an aside, only 435 of the deaths were related to cardiovascular disease (27 percent). The researchers then plotted the resting heart rates taken at the outset of the study and found a striking connection between baseline resting heart rate and cancer mortality risk (as well as cardiovascular disease mortality risk and all-cause mortality risk). The

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researchers expressed this connection by comparing the relative number of cancer deaths in four quartiles of resting heart rate. The relative cancer death risk rates for quartiles 2-4 are shown below in comparison to quartile 1: Ÿ Quartile 1: Less than 60 beats per minute Ÿ Quartile 2: 60-66 beats per minute - 60 percent higher risk Ÿ Quartile 3: 67-73 beats per minute - 60 percent higher risk Ÿ Quartile 4: Greater than 73 beats per minute - 140 percent higher risk One caution to readers, the study authors noted these results are applicable to men only. That said, other studies have shown a strong connection between resting heart rate and premature death risk in both men and women. In one such study, a different group of researchers found increasing all-cause mortality risk at successively higher resting heart rate ranges in both men and women, although there were modest differences between men and women in each qvuartile (and the specific heart rate quartiles were not the same as the quartile ranges discussed in this article). The Cancer Connection So what is the underlying connection between resting heart rate and cancer death risk? It's a good question because researchers are unsure of the precise underlying connection. The authors of the cancer risk/heart rate study explained, “The mechanisms that could explain the association between heart rate and cancer mortality are unclear. Is heart rate a marker of risk for developing cancer, or a marker of risk of dying if one individual develops cancer? “One possibility is that heart-rate increase might be a marker of chronic stress and anxiety, which may in turn be related to an increased risk for cancer. Recent data suggest that the link between chronic stress and cancer might be related to genetic instability as a

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consequence of telomere length reduction and telomerase activity decrease. [Editor's note: A telomere is a portion of our DNA strands that is disrupted/corrupted in cancerous cells.] “Another possibility is that lowgrade inflammation which is present in certain malignant conditions may play a role although it is not known to what extent such inflammation might be associated with heart-rate increase.” Yet despite the unknown connection, the researchers indicated that resting heart rate was a more effective measure of cancer death risk than most other researched measures, “With the exceptions of tobacco exposure for lung cancer and familial history for colorectal malignancy, there have been few risk factors associated with cancer death which confer as substantial a relative risk, as did heart rate in the present study.” What to Do If You Are at Risk So as we each continue our efforts to live a healthier lifestyle, it makes good sense to periodically check our resting heart rates. This study combined with others on the same topic has clearly shown that high resting heart rate levels are strongly correlated to premature death. For male and female readers with high resting heart rates, research studies have shown that losing weight, cutting down on the saturated fat content of one's diet, and increasing physical activity all contribute to lowering resting heart rate. Substantial improvements in resting heart rate can be achieved (5-10 beats per minute) in a relatively short time period (3-6 months) if such lifestyle improvements are aggressively pursued. For example, a 2009 study examining the effects of a 12-week aerobic exercise program in 58 obese men and women found that the subjects, on average, lowered their resting heart rate by 5-9 beats per minute by the end of the program. The exercise protocol followed was not described in great depth in the study results – participants exercised five times a week over the 12week period (presumably on an exercise cycle) at an intensity level of 70 percent of maximum heart rate for as long as it took each subject to burn 500 calories during each workout session (many treadmills, stationary cycles and elliptical training machines record calories burned based on your entered body weight).

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rom this month, Dreams & Money is entering a new phase. We did some introspection and figured out what we should do. Writing this column, I asked my self a question too what should I write about. The answer I got was something that you care about that I can offer. As a technologist and also as a writer of this paper, I believe you are a person who has dreams and would love to make them true; you have a thirst for knowledge that can make you financially aware, knowledgeable and happy. So I have come up with this - 3 ways technology can help to manage your finances. Understanding your cash flow: Personal finance software can organize all the transactions in your bank accounts, credit cards etc. giving you a better picture of what you earn, what you spend and what categories you spend it on (how much on groceries, how much on entertainment etc.). Some software can even make recommendations on how you can save more money. Some examples of software that do this are: Quicken (has multiple editions ranging from $45 to $110), (free) etc. However you have to exercise caution when using services like these. They assure you of the highest level of security and are generally verified as safe by online security companies. But

Let's talk! you have to feel confident year range are generally more about giving your financial than sufficient. Again with information to a third party. If online services, there have there were an incident of been concerns about the fraud, your bank might hold privacy of such documents. you responsible. That said, These companies too assure they do have thousands of you of the highest level of Aishwar .M happy users already. security, And it is your choice Software Developer in the end. But they do have Managing your important thousands of happy users documents: Keeping good records is important. It can help you in the future already. One thing I should mention is when its time for tax preparation, or that E-Post is actually provided by providing proofs when requested by Canada Post and is not a private comCRA, or when you’re making large pany like the other alternatives menpurchases/sales etc. There are many tioned. Managing your bill payments: services online that offer this. Services like Dropbox,, Windows Live There are many services that help you Sky Drive and E-Post My Vault. The with this as well. A lot of Personal prices for these services range from free Finance software actually help you with to expensive - depending up on what this. Some can detect recurring payyou want. For most people, the free ments and suggest you reminders based accounts or accounts around the $25 a on them. Others are more direct - where

you have to tell them the frequency and the payment amount, and they will remind you when it is due. There is also E-post from Canada Post. You can set it up so that your bills are delivered online and you can make the payment from their site itself. The advantage of this is your bills are automatically organized, stored for years and will be easy to refer back to. I have not provided where these products/services are available from. However, you could find them easily by typing into Google the name of the service; for your easy reference names are given in bold letters above. Please feel free to ask your questions and concerns on any technology related similar personal financial matters. Send your emails to aishwar@ In the subsequent issues, you will see the answers. If you are a print edition reader, don’t forget to visit for uninterrupted future reading. Subscribe to “Dreams&Money” online. It is free, simple and easy. Test it now with If you have any problems, send me an email. Bye for now. If my theory of relativity is proven successful, Germany will claim me as a German, and France will declare that I am a citizen of the world. Should my theory prove untrue, France will say that I am a German, and Germany will declare that I am a Jew.

When written in Chinese, the word crisis is composed of two characters. One represents danger and the other represents opportunity. - John F. Kennedy

The man who does not read good books has no advantage over the man who can't read them.

It has been said that Democracy is the worst form of government except all those other forms that have been tried from time to time. Winston Churchill

There are three faithful friends: an old wife, an old dog, and ready money.

He has a right to criticize, who has a heart to help.

- Benjamin Franklin

- Abraham Lincoln

I have decided to stick with love. Hate is too great a burden to bear.

Keep your friends close and your enemies closer.

- Mark Twain

- Martin Luther King


Minds are like parachutes. They only function when they are open.

- Sun-Tzu


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Dreams & Money Sep 2011 Issue  

The September issue of Dreams & Money