FOOTPRINTS: YOUR JOURNEY TOWARDS
Home Ownership AND Financial Independence
FOOTPRINTS: YOUR JOURNEY TOWARDS HOME OWNERSHIP AND FINANCIAL INDEPENDENCE
What is Financial Independence? Financial Independence can mean different things to different persons. Someone who is on their journey towards Financial Independence, has feels that he or she is making progress toward these goals.
reality. Financial Independence setting. This requires you to transform your thoughts, focus all your attention on your dreams, prioritise your goals, create an action plan, usually with the aid of an
play an integral part in your journey towards Home Ownership and Financial Independence.
Educate yourself about options for investing
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FOOTPRINTS: YOUR JOURNEY TOWARDS HOME OWNERSHIP AND FINANCIAL INDEPENDENCE
The Financial Planning Process Let’s get started on your journey towards Financial Independence need to understand and practice some important principles of Financial Planning.
J O pen a rainy day account with 3 to 6 month’s expenses U R N increase your wealth decisions E Y ield not to temptation
Small savings can grow into a large nest egg over many years
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FOOTPRINTS: YOUR JOURNEY TOWARDS HOME OWNERSHIP AND FINANCIAL INDEPENDENCE
What are Your Financial Goals? Your goals will depend on the things that are important to you at different stages aspire.
SAVE FOR EMERGENCIES
PLAN FOR MY RETIREMENT INCREASE WEALTH
OBTAIN HIGHER EDUCATION
SAVE FOR CHILDREN’S EDUCATION INCREASE MY SAVINGS WITH FINANCIAL SUPPORT FROM OVERSEAS BUY MY OWN HOME DECREASE DEBT OPERATE MY OWN BUSINESS
INSURE PROPERTY OR MOTOR VEHICLE TAKE A VACATION
PURCHASE A CAR
Contact your Victoria Mutual Financial Advisor if you need assistance to identify key goals
FOOTPRINTS: YOUR JOURNEY TOWARDS HOME OWNERSHIP AND FINANCIAL INDEPENDENCE
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Steps to Goal Achievement to make your initial F O O T P R I N T S on the Home Ownership and Financial .
3 months
Try not to use these funds for any purpose other than a real emergency.
The Victoria Mutual Group
Make saving every month
FOOTPRINTS: YOUR JOURNEY TOWARDS HOME OWNERSHIP AND FINANCIAL INDEPENDENCE
Achieving Your Goals with .
PLAN FOR RETIREMENT
SAVE FOR CHIILDREN’S EDUCATION START AND/OR EXPAND A BUSINESS
Share Loan, Commercial Mortgage, Prime Retirement
HIGHER EDUCATION
INCREASE MY SAVINGS WITH FINANCIAL SUPPORT FROM OVERSEAS DECREASE DEBT
VMTS (US/UK/CDN resident)
resident)
TAKE A VACATION
PURCHASE A CAR
INSURE PROPERTY OR MOTOR VEHICLE
(US/UK/CDN resident)
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FOOTPRINTS: YOUR JOURNEY TOWARDS HOME OWNERSHIP AND FINANCIAL INDEPENDENCE
Financial Independence:
The
Approach Home Ownership is the cornerstone of
Financial Independence.
Financial Independence. There is
your mortgage
expenses in your senior years as you will
on Home Ownership, you will gain the peace of mind that
Buying land and building over time is an option to achieving Home Ownership
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FOOTPRINTS: YOUR JOURNEY TOWARDS HOME OWNERSHIP AND FINANCIAL INDEPENDENCE
What does HOME mean to you? MY OWN SPACE
FUN WITH MY FRIENDS
Now I can relax in the comfort of my home without any interruptions.
MY PROMISE FULFILLED We have the perfect place to play our games.
MY OWN SENSE OF STYLE
Finally I can give my mother and father the home they deserve.
Goals should be S Measurable, A Relevant and Time-based
The new furniture was perfect and coordinated well with my dĂŠcor.
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FOOTPRINTS: YOUR JOURNEY TOWARDS HOME OWNERSHIP AND FINANCIAL INDEPENDENCE
What does HOME mean to you? A PLACE OF LOVE
QUALITY FAMILY TIME
To have and to hold today and always!
THE GOOD LIFE
Sharing our experiences at dinner time is something we look forward to!
A LASTING LEGACY
At last...we have the time to relax and enjoy each other.
Avoid using a credit card to pay for things you can’t afford
My son will never have to worry about where he will raise his children.
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FOOTPRINTS: YOUR JOURNEY TOWARDS HOME OWNERSHIP AND FINANCIAL INDEPENDENCE
Your path to Home Ownership home, it is wise to seek guidance from the Victoria Mutual Group.
Home Ownership.
you can use. Look around for the home you desire and consider all the factors that may horizon, security of the location, proximity to work, school and other facilities,
price of the property.
expenses as well.
start on your journey to Financial Independence.
Consider how your standard of living
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FOOTPRINTS: YOUR JOURNEY TOWARDS HOME OWNERSHIP AND FINANCIAL INDEPENDENCE
Where are you on your
Home Ownership Journey? PREPARING TO BUY YOUR FIRST HOME we will partner
towards the home purchase. which best describes
CURRENT SAVINGS TOWARDS HOME DEPOSIT
CURRENT INCOME STATUS
A6 A5 A4
Current Income allows you to qualify for a mortgage
A3 A2 A1
Current Income DOES NOT allow you to qualify for a mortgage
Having considered your goal of preparing
GROUP RECOMMENDATIONS A6
iGain, Mortgage Loan, Repo max, VMPS, VMTS (US/UK/CDN resident)
A5
your needs. Product details are provided on pages 24-27.
(US/UK/CDN resident)
A4
VMTS (US/UK/CDN resident)
A3
iGain, Repo Max, VMTS (US/UK/CDN resident)
A2
(US/UK/CDN resident)
A1
(US/UK/CDN resident)
Buying real estate can help you to create long-term wealth
FOOTPRINTS: YOUR JOURNEY TOWARDS HOME OWNERSHIP AND FINANCIAL INDEPENDENCE
Where are you on your
Home Ownership Journey? OWNING YOUR HOME WITH A MORTGAGE Owning your home is a major accomplishment and at with you at this milestone. If you own a home with a mortgage we know that you may
which best describes
YOU CAN SURVIVE ON YOUR SAVINGS FOR B6 B5 B4
More than 6 months 3 - 6 months Less than 3 months
B3 B2 B1
More than 6 months 3 - 6 months Less than 3 months
your mortgage
your mortgage
GROUP RECOMMENDATIONS
Independence by taking advantage of your
best suit your needs. Product details are provided on pages 24-27.
B6
iGain, iGain Premium, Share Loan, Mortgage Loan, Home Equity Loan, Repo Max,VM Managed Portfolio, VMPS, VMTS (US/UK/CDN resident)
B5
iSave, iGain, Share Loan, Mortgage Loan, Home Equity Loan, Repo Max, VM Managed Portfolio, VMPS, VMTS (US/UK/CDN resident)
B4
iSave, VM Savings Accounts, VM Money Maker, Home Equity Loan, VMTS (US/UK/CDN resident)
B3
iGain, iGain Premium, Share Loan, Mortgage Loan, Home Equity Loan, Repo Max,VM Managed Portfolio, VMTS (US/UK/CDN resident)
B2
iSave, iGain, VM Savings Account, VM Money Maker, Repo Max, VMTS (US/UK/CDN resident)
B1
iSave, VM Savings Account, VM Money Maker, VMTS (US/UK/CDN resident)
Seek expert advice before investing your money
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FOOTPRINTS: YOUR JOURNEY TOWARDS HOME OWNERSHIP AND FINANCIAL INDEPENDENCE
Where are you on your
Home Ownership Journey? USING YOUR DEBT-FREE HOME AS A FINANCIAL FOUNDATION At
which best describes
YOU CAN SURVIVE ON YOUR SAVINGS FOR C6 C5 C4
Less than 3 months
C3 C2 C1
Less than 3 months
INVESTMENT STRATEGY
GROUP RECOMMENDATIONS
opportunities to invest.
best suit your needs.
Product details are provided on pages 24-27.
C6
iGain Premium, VM Money Maker, Share Loan, Mortgage Loan, Repo Max, VM Managed Portfolio, Bond Trading, Stock Trading, VMPS, VMTS (US/UK/CDN resident)
C5
iGain, iGain Premium, VM Money Maker, Share Loan, Mortgage Loan, Repo Max, VM Managed Portfolio, Bond Trading, Stock Trading, VMPS, VMTS (US/UK/CDN resident)
C4
iSave, iGain, VM Savings Accounts, VM Money Maker, Repo Max, Stock Trading, VMTS (US/UK/CDN resident)
C3
iGain Premium, Repo Max, VM Managed Portfolio, VMTS (US/UK/CDN resident)
C2
iGain, iGain Premium, VM Money Maker, Repo Max, VMTS (US/UK/CDN resident)
C1
iSave, iGain, VM Savings Account, VM Money Maker, Repo Max, VMTS (US/UK/CDN resident)
Cut back on entertainment costs and save more each month
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FOOTPRINTS: YOUR JOURNEY TOWARDS HOME OWNERSHIP AND FINANCIAL INDEPENDENCE
They did it, and so can YOU! Victoria Financial .
Independence
Proud Victoria Mutual Building Society (VMBS) Home Owner “I was introduced to the VM family about 25 years ago when I started out with my children’s savings. When my wife and I sought to take on a mortgage, we were in our late 20’s, early 30’s. We were looking around for a reputable institution and VMBS was introduced to us as a very strong and experienced institution that would enable us to achieve our goals. It took a lot of planning, budgeting, managing the household and managing 3 children. We had our challenges even after getting the mortgage. At one point my position at work was made redundant. I went in to have a discussion with VMBS. They understood what was happening and a period of moratorium was offered. Within two months of engaging that process, I regained employment and I was able to restart my normal mortgage payment before the period of moratorium ended. When it comes to buying a house or acquiring property, or acquiring anything at all, you have to save. While I had my mortgage, I also saved towards upgrading my house and doing refurbishing work. I started out with a very good foundation with VMBS. The goals that my wife and I set out to accomplish have all been achieved. Within 15 years, I should be retiring and so I’m now putting in place plans to ensure that We will say to anyone seeking a mortgage to try VMBS. VMBS is like family. This is where the experience is, this is where the know-how is, this is where stability and strength are, in terms of enabling people to achieve their objectives for their families.”
Setting goals establishes the framework for future success
FOOTPRINTS: YOUR JOURNEY TOWARDS HOME OWNERSHIP AND FINANCIAL INDEPENDENCE
They did it, and so can YOU! Secured Financial Future with the help of Victoria Mutual Wealth Management Limited (VM Wealth) “I’ve been a VM Wealth Client for the past 17 years, but I’ve been a member of VMBS for much
Growing up in the country, I was raised to know the value of savings and working hard to achieve whatever I wanted. There was no way I could go to borrow from next door, if I didn’t have something. I learnt to do without until I could get it for myself.
consultant. I established a long and fruitful career in the insurance industry. But I realised that my husband and I wouldn’t be working forever and we couldn’t leave it up to our three sons to take care of us when we retired.
I to not worry about how we’ll survive during our retirement. One of the things I really appreciated about VM Wealth was the fact that they listened to us and they also acknowledged and respected our knowledge base. We were able to select what we thought was right for us. Then they advised us on why our selection was good or why we should choose something else in addition. I know that this is a Group that can make and has been making difference in people’s lives.”
Save at least three months’ worth of expenses for emergencies
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FOOTPRINTS: YOUR JOURNEY TOWARDS HOME OWNERSHIP AND FINANCIAL INDEPENDENCE
They did it, and so can YOU! (BCIC) Customer “I really don’t remember how I got introduced to BCIC but I was with another insurance policies and how the customer service dealt with the accident and so I made the switch to BCIC. In my over 30 years I’ve never been disappointed and what always impresses me is the professionalism. The insurance agents deal with me with respect. If there’s any problem
If I had to do it all over again, I would go back to BCIC and I would encourage everybody to insure with BCIC. In fact I have done that. Recently I introduced my wife’s nephew to BCIC. If there’s an academy for insurance it starts down at 36 Duke Street, the headquarters of BCIC. And why I say that is because they are very professional. When I go there I am treated with the utmost of respect by everyone starting from the security guard in the parking lot, to the security guard inside and that smile I get from the front desk, I feel so welcomed. If you’re looking for a good company with which to insure your vehicle go to BCIC. They will you on the road. BCIC sell off.”
Use automatic deductions to fund your savings and investments
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FOOTPRINTS: YOUR JOURNEY TOWARDS HOME OWNERSHIP AND FINANCIAL INDEPENDENCE
They did it, and so can YOU! Has Peace of Mind in his Retirement Years with the help of Prime Asset Management Limited (Prime) “You know, I am more of a risk taker than a saver. But yes as far as pension is concerned, through VM’s Prime Asset Management Limited, I’ve had to learn to save. I’ve managed a lot of staff in my lifetime and was very instrumental in assisting the staff at the National Health Fund (NHF), to start a pension scheme. It was a challenge, but a necessary challenge. Unfortunately I didn’t start to think of retirement until about 15 years ago. What will I do with my retirement? How will I survive? How will my family survive? I was fortunate I was part of the team which was selecting a service provider to provide
I got my lump sum repayment upon retirement and I get my pension payment every month. But if one thing has stood out with the Prime Team it has been how they communicate. They have been excellent in communicating from the very beginning to now. I am still getting correspondence from them. For someone approaching retirement age, if you don’t have something in place you’re doing your family a disservice. If you don’t plan for your future, your future will plan for you. I wouldn’t go with anybody else. Now that I am retired, I am relaxed and comfortable having chosen VM’s Prime Asset Management Team.”
Start planning for your goals early and put time on your side
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FOOTPRINTS: YOUR JOURNEY TOWARDS HOME OWNERSHIP AND FINANCIAL INDEPENDENCE
They did it, and so can YOU! (VMBS) Home Owner
Proud Victoria Mutual Building Society
“I believe I was 25 when I bought land with my huge savings of $10,000 plus a further loan from VMBS. Ever since High School, one of my goals was to own my own home. So when the time came, I chose VMBS. I started building about a year after buying the land. I started building slowly out of pocket. It was taking too long and I was losing too much because I was stopping and starting often as funds ran out. So after clearing my loan for the land I decided
would say, "stay on crooked and cut straight". VMBS was there all the way. The staff provided sound advice and helped me to choose wisely. They were very easy to talk to. I got a further loan which was taken out by my mother-in-law whose collateral was of much greater value than the land we bought. I however, had to pay the insurance on the loan so you can imagine what that did to my premiums. But I was strategic and when I could pay a little more I did. I took advantage of the amnesty periods and made arrangements to pay on principal and whittled away the mountain which stood before us. I also the 5% mortgage revolution. That was sweet and part of the plan as to how it could be made more affordable. For those who believe home ownership is out of reach I will say to them what my mother said to me "Is one, one room build house". Dream and design it just the way you want it, be patient, stay focused, be prepared of owning your own home and are prepared to work with you to make your dream a reality.”
“Protect your investments with and life insurance”
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FOOTPRINTS: YOUR JOURNEY TOWARDS HOME OWNERSHIP AND FINANCIAL INDEPENDENCE
Resources to help you get started
for you is to take action and start the journey.
of your income and expenses, which allows you to keep track of your spending, and plan for future needs.
At
Home Ownership and
Defer spending today to create wealth for tomorrow
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FOOTPRINTS: YOUR JOURNEY TOWARDS HOME OWNERSHIP AND FINANCIAL INDEPENDENCE
Resources to help you get started ONLINE RESOURCES
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Home Ownership Tips
Keeping track of your weekly expenses is just as important as having a budget
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FOOTPRINTS: YOUR JOURNEY TOWARDS HOME OWNERSHIP AND FINANCIAL INDEPENDENCE
Resources to help you get started MONTHLY BUDGET
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BUDGETED INCOME Salary Bonus In estment Income Business Income Other Income TOTAL INCOME EXPENSES Rent/Mortgage Groceries Utilities Ca le Internet Miscelleneous Miscellaneous ousehold Petrol Bus/Taxi re Vehicle Repairs Vehicle Insurance Miscelleneous Miscellaneous Transportation Personal Care ntertainment ating Out Vacation Clothing Child Care ducation Costs Life Insurance ealth Insurance Doctor/Dentist Miscelleneous Miscellaneous ealth Sa ings In estments Loan Payments Taxes TOTAL EXPENSES INCOME EXPENSES
A budget gives you control over how you spend your money
ACTUAL
FOOTPRINTS: YOUR JOURNEY TOWARDS HOME OWNERSHIP AND FINANCIAL INDEPENDENCE
Resources to help you get started HOME OWNERSHIP CHECKLIST A Home Ownership Victoria Mutual to satisfy your mortgage needs, we would like you to complete the
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HOME OWNERSHIP CHECKLIST
Prepare a will to transfer your possessions when you die
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FOOTPRINTS: YOUR JOURNEY TOWARDS HOME OWNERSHIP AND FINANCIAL INDEPENDENCE
Resources to help you get started 4 FACTORS TO CONSIDER WHEN PURCHASING YOUR HOME
family and property?
save consistently for their college education
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FOOTPRINTS: YOUR JOURNEY TOWARDS HOME OWNERSHIP AND FINANCIAL INDEPENDENCE
My Action Steps Financial Independence journey.
commitment to taking the required actions for success.
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FOOTPRINTS: YOUR JOURNEY TOWARDS HOME OWNERSHIP AND FINANCIAL INDEPENDENCE
Products & Services
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FOOTPRINTS: YOUR JOURNEY TOWARDS HOME OWNERSHIP AND FINANCIAL INDEPENDENCE
Products & Services
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FOOTPRINTS: YOUR JOURNEY TOWARDS HOME OWNERSHIP AND FINANCIAL INDEPENDENCE
Products & Services
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FOOTPRINTS: YOUR JOURNEY TOWARDS HOME OWNERSHIP AND FINANCIAL INDEPENDENCE
Products & Services
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FOOTPRINTS: YOUR JOURNEY TOWARDS HOME OWNERSHIP AND FINANCIAL INDEPENDENCE
Contact us at Financial Independence Team, dedicated to helping you on your journey.
1-876-754-8627 or 1-888-937-8627
1-876-929-2283, 1-876-929-6274
VMBS mortgagors.
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FOOTPRINTS: YOUR JOURNEY TOWARDS HOME OWNERSHIP AND FINANCIAL INDEPENDENCE
Contact us at Financial Independence Team, dedicated to helping you on your journey.
Prime Asset Management www.primepensions.com pam@primepensions.com
for their retirement? Prime Asset Management Limited can create a retirement planning solution to meet the needs of your company and employees. Prime
www.bcicjamaica.com 1-888-BCIC-INS (2242-467)
and at www.bciconline.com
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