VMBS Proprietory Guide: Footprints

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

1

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

2

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

3

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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