604.921.4042 info@eaglefinancial.ca

National Indigenous People’s History Month – June 2024

National Indigenous People's History Month


Indigenous People's Day

June 21 2024

June is National Indigenous People’s History Month and is also the month National Indigenous People’s day happens, on June 21st. In 2009, the Canadian House of Commons designated June as National Indigenous People’s History month as a time to learn and celebrate the many unique cultures of the Inuit, Metis and First Nations People across Canada. In 1996, June 21 was celebrated as Indigenous People’s day after it was proclaimed by the governor general of Canada, Romeo Leblanc.

This month we celebrate and reflect on all the unique and amazing cultures, traditions, and experiences of Indigenous, Metis, Inuit and First Nations people across Turtle Island. Without your wisdom, strength, resilience, and loving spirit, we would not have the country we have today.

Managing Stress using Cultural Knowledge

Managing Stress with Cultural Knowledge

Sometimes, the amount of stress in our everyday lives can build up and seem overwhelming and unmanageable. From work to family obligations, to paying the bills, the number of things we need to do in a day can add up and put a lot of pressure on your physical and mental health. This stress can inhibit your emotions, your joy and even your ability to think clearly, throwing you out of balance.

But with the right tools the stresses of everyday life can be managed until those stresses are eased.  Here are some tools you can use to self regulate  and bring yourself back into balance:

Get out and ground yourself in nature

Spend time outside on the land wherever you are, whether that is your yard, a garden, your communities’ land, a park or a nearby hiking trail. Being outside and communing with the land and mother nature can act as refuge from everyday stresses and help you disconnect from the causes of your anxiety.

Release your emotions

Sometimes when we are overwhelmed, we hold everything inside and forget to release what we are feeling. It’s okay to cry, to vocalize the stress and pain, to talk about what you are feeling and release that energy. If needed, find a trusted friend, or loved one, or maybe a counsellor with whom you feel safe with and let those emotions flow.

Reach out to your community

If you are feeling stressed and overwhelmed, you don’t have to go it alone. Speak to your family, to your friends and elders and let them know what is happening for you. Let them help you with their wisdom, their laughter and their love. Strengthening your connection to your community and your loved ones in difficult times can help ease the burden that stress is causing you.

Lean into your cultural and spiritual teachings

If you have a favorite cultural or spiritual practice that you enjoy, like smudging in the mornings, jingle dress dancing, drumming, creating art, or singing, embrace them. Lean into those things that bring you joy and connection in your traditions and spirituality.

Eating a balanced diet

Getting proper nutrition when you are feeling overwhelmed is an important part of managing stress. It will help make your body feel whole and strong and keep your emotions and mental health balanced. Make sure to eat a nutritious and balanced diet of proteins, carbohydrates and fruits and vegetables. Whenever you can, incorporate your traditional foods into your meals and fun foods as well! The joy in eating what is familiar, comforting or fun can help boost your mood and nourish the spirit.

Take regular exercise

Move your body in ways that make you feel good. Whether that’s playing your favorite sport, swimming, going for a walk outside or dancing. The important thing is to move your body and move your body regularly. The more joy you can have in your movement the better it will make you feel.

Get enough Sleep

An important part of bringing yourself back into balance is getting enough sleep. Some ways to help make sure you get those needed hours of rest are getting off your phone/screens at least an hour before bed; give yourself a regular bed time; regular exercise can also help relax you and get that deep restorative sleep you need.

Above all, make sure you give yourself a lot of compassion and grace when you are feeling stressed. It can be confusing as to where to begin helping yourself when you already feel overwhelmed. Start small by incorporating one healthy habit at a time, and slowly build on the confidence that the positive changes bring.

For more information, culturally sensitive resources and supports, check out the links below:

Metis Counseling – 15 ways to reduce stress

First Nation’s Health Authority – Traditional Wellness and Healing

First Nation’s Health Authority Culturally Safe and Trauma-Informed Services​

Hope for Wellness Help Line offers immediate mental health counselling and crisis intervention by phone or online chat. Call toll-free 1-855-242-3310 or start a confidential chat with a counsellor at hopeforwellness.ca​.

Indian Residential School Crisis Line is a national service for anyone experiencing pain or distress as a result of their residential school experience. Call toll-free 1-866-925-4419.

Kuu-Us Crisis Line Society provides crisis services for Indigenous people across BC. Adults/Elders line 250-723-4050; youth line 250-723-2040. Or call toll free 1-800-588-8717. Learn more at www.kuu-uscrisisline.com.

Métis Crisis Line is a service of Métis Nation British Columbia. Call 1-833-MétisBC (1-833-638-4722).

7 Kinds of Personal Budgets and How They Work

7 Kinds of Personal Budgets and How They Work

7 Kinds Of Personal Budgets and How To Use Them

It can be easier to know where you are at financially and achieve your financial goals if you keep track of your money every month. A budget can help you monitor your money and make you feel in control of your finances. The catch is to find a budgeting style that works for you so you will use it consistently and reach your goals. Here are some of the different types of budgeting styles you can try:

A Traditional Budget

This is possibly one of the most widely used styles of budgeting. You simply subtract your expenses from your income and what ever is left over at the end of the month can be used for savings, retirement, additional payments towards debt or extra purchases. This is one of the easier to use methods and is recommended for beginners.

The Zero-Based Budget

With a Zero-based Budget, the goal is to give every dollar you earn a job, making your income get to Zero every month. But that doesn’t mean it all goes to spending, you give each individual dollar a job, whether that is savings, retirement investing, or paying necessary bills. You choose where you spend the money, making sure each cent has a job and at the end you have nothing left over.

The 50/30/20 Budget

This budget is great for people who want to separate their income into precise portions. The idea is that 50% of your income goes towards necessary expenses, 30% goes towards things you want to spend money but aren’t necessities and 20% goes towards your savings and/or debt.

A Goal Based Budget

So perhaps you have specific goals in mind that you want to achieve. This would be the budgeting style for you. In this budget you have financial goals you want to accomplish, and you set aside money to help reach those goals. Usually, you choose one to two major goals and work with those. Examples of this could be:

  • Save 15% of my income every month.
  • Put 10% of my income into a retirement plan.
  • Pay down 20% of a debt every month.
  • Spend no more than $200 each week on groceries.

With this budget, you choose the goal(s) and then put money aside to achieve them.

The Pay Yourself First Budget

This method puts you and your financial goals front and centre. When you get your pay cheque, you literally pay yourself first by paying towards your financial goal before any other expenses. Whether that’s putting money in a high yield savings account, retirement plan or whatever savings goal you might have. This plan is especially good if you have a hard time making you and your savings a priority. After you pay yourself first the rest of the money goes towards expenses like rent, groceries, car, etc.

Spending Cap Budget

This budget says it all in the name: SPENDING CAP. In this budget you include all that you are willing to spend in a month to a maximum. This includes groceries, bills, debts, and savings all in one monthly limit and you can’t go over that amount. What ends up being left over you are free to do what you want with it, but we will always recommend you put it into savings.

The Envelope Budget

If you are more of a visual person and get encouragement from seeing your money pile up before your eyes in real time, then this budget might work for you. In the Envelope budget, you take physical cash and portion it out into labeled envelopes that are categorized for each expense and savings. For example, one envelope for a vacation, another for the car payment, another for groceries, etc. For maximum visual appeal you can get clear plastic sleeves in a binder or keep it simple with regular letter envelopes.

So which Budget is the best one for you? The one that works and gets you using it consistently. Some people like more restrictive budgets like the “Traditional Budget” or the “Spending Cap” method. Others might want more freedom like the “Pay Yourself First” style. Either way, the best budget is the one that works for you and helps you achieve your financial goals.

For more information or to speak with one of our advisors click this link to get in touch, we are here to help!

How to Solve Complex Disability Management Issues in Indigenous Organizations?

How to Solve Complex Disability Management Issues in Indigenous Organizations?

It is no secret to employers that managing short-term, long-term, and occupational disability, as well as other absence-related matters, can be overwhelming – even at the best of times. It is not uncommon for a seemingly simple case to quickly develop into a much more complex and challenging one, for even experienced HR or health & safety professionals. Entrusting your disability claim management to experts in the field alleviates the administrative burden from your organization while guaranteeing exceptional results.

From the onset of a claim through to its conclusion, Disability Management Companies (DMC) proactively manage occupational, non-occupational injuries and illnesses with personalized recover-at-work solutions.

The following benefits are usually provided to our clients through our third party disability management providers:

  • A collaborative review of your company’s return-to-work policies and procedures to ensure best practices are in place. This includes establishing/understanding job demands, modified duties and developing comprehensive “Employee return to work” plan development for current and future use.
  • Management, record-keeping and constant stakeholders communication from onset of a disability to its conclusion.
  • Comprehensive custom reporting includes, but is not limited to, claims activity reports, trend analyses, cost projections, forecasts and annual report summaries.

“ Unfortunately, waiting for appointments and diagnostic procedures is standard practice in Canada’s public health care system. Disability Management services can alleviate the administrative burden from your organization while guaranteeing exceptional results.

At Eagle Bay Financial Services, we believe the key to reducing cost and lost time by prioritizing your organization and employees is critical for effective health management. Your team members` speedy recovery directly translates into an early and safe return to work.

Unfortunately, waiting for appointments and diagnostic procedures is standard practice in Canada’s public health care system. In response to this barrier, we would like to introduce you to one of our Disability management partners, TeksMed!

TeksMed Services Inc. is an industry leader with over 25 years of disability management experience. TeksMed offers Expedited Health Care with occupational and non-occupational programs at no additional cost. Early access to health care prevents any delays to diagnosis and treatment, which could otherwise impede the employee from returning to work safely and swiftly.

With this exceptional solution, your team will enjoy accelerated access to free diagnostic scans and specialist appointments. They will be supported throughout their recovery and receive additional coverage for services such as MRIs, CT scans, and specialist consultations. 


In addition to the disability management programs, TeksMed also offers several wellness solutions for organizations to support their employees before absences occur:

QuikCare Thrive is an app-based mental wellbeing program that was developed to help employees build resilience to stress. Users can access mental health support, information and coping techniques anytime and anywhere.

QuikCare Platinum is an employee benefit that can help workers avoid taking time off work by giving them expedited access to health care. Should one of your employees be suffering from a medical condition causing them stress or, perhaps, worry is developing into something that may require a leave of absence, TeksMed can proactively intervene to arrange for diagnostic scans or specialist appointments in a mere matter of days.

We are thrilled to have a strong relationship with TeksMed and happy to offer their services to our valuable clients. TeksMed shares our commitment to expert knowledge, unparalleled services, integrity, and confidentiality. We would like you to see the return on investment through reduced time loss and administration costs in your Indigenous organization.

Inspired by a never-ending quest to be the best, TeksMed continues to set the standard and raise the bar for integrity, innovation and exceptional service. For more information, visit www.teksmed.com.

To get started, contact our Account Managers Jenny Kellet or Denise Perry.

Mina Dingle

Account Manager

Group Benefits

Kathy Cordonier

Account Manager

Group Benefits

Health Insurance for Seniors | Invitation for Victor Insurance’s 2020 Open Enrollment

Are you an Indigenous Elder, considering purchasing additional health & travel insurance at age 60?

You are not alone!


The older we get, it gets harder to afford proper healthcare. Hidden healthcare costs can be shocking for many retirees since ageing comes with the additional risk of falling sick. Especially if you have a chronic medical condition requiring regular prescriptions, it makes sense to purchase that health insurance.

From September 1 – October 31, 2020, Victor Insurance is accepting all health, dental and annual travel plan applications for anyone aged 50–75, with no medical questions. Applicants do not require previous health care coverage to enroll either.


“This is a unique opportunity with limited-time for enrollment. ”

Here is Why?

    • Typically, when you retire, you live on a fixed income.
      If you don’t have insurance, through an individual or a spouse’s group policy, it will be risky to face unexpected healthcare costs without the safety net.
    • If you don’t have enough savings and have recurring medical expenses, you may not be able to take care of all of your spending out-of-pocket. With additional health and travel insurance, it makes sense to have a piece of mind and offset these costs even if they fall outside the provincial and government plans.
    • You do not need to have an existing health care coverage to enroll.
    • You won’t need to fill out a medical questionnaire.
    • It is quick and takes less time to get it approved.

Are you already a Victor policyholder?

It is great!
If you like, you can add dental and/or annual travel coverage to your existing health care plan. You can also add coverage for your spouse, to keep him/her protected.

We know that finding the right insurance solution can be daunting for our Elders.

At Eagle Bay Financial Services, we have established long-term, stable relationships with Canada’s top insurers. We can quickly compare rates, and our experienced financial advisors can find the right fit for you.

Contact our financial advisors to help you determine your needs & build a plan for you and your family’s needs.

New Covid-19 Protocol

New Covid-19 Protocol

“ We are conducting a simple screening questionnaire to reduce the potential risk of exposure of COVID-19 to our team members and visitors. ”

Dear Clients,

As the COVID-19 restrictions begin to ease off, we are slowly opening our doors to serve you.

To reduce the impact of COVID-19 outbreak conditions on our businesses, among our employees and customers, it is essential to comply with the social distancing policies.

We are paying close attention to regulations and guidance issued by federal and local government agencies.
We encourage everyone to follow the best practices for minimizing the spread of COVID-19. Therefore, we implemented Basic Infection Prevention Measures to increase the physical distance among our team members and clients.


Prevention Measures

  • We are only accepting clients with appointments.
  • If you are sick or showing any illness symptoms, travelled recently or have been in contact with anyone who is ill, kindly cancel your appointment.
  • We promote frequent and thorough hand sanitizing for our team members and customers.
  • We maintain regular housekeeping practices, including routine cleaning and disinfecting of surfaces, equipment, and other elements of the work environment.
  • We provide our clients with tissues, face masks and trash receptacles.
  • Please keep your distance with our staff and other customers at least 2 meters apart at all times.
  • If you are visiting our office, our staff will ask you these questions upon your arrival;
  • Have you been required to self-isolate for any reason?
  • Have you travelled outside of British Columbia in the last 2 weeks?
  • Have you been in contact with anyone who has returned from travelling outside of British Columbia in the last 2 weeks?
  • Have you been in contact with anyone who is now in quarantine or self-quarantine?
  • Have you been in recent contact with anyone who is now feeling ill?
  • Are you feeling ill in any way?

We sincerely thank you for your continued support during these difficult times – and staying connected while we were apart.

Best Regards

Eagle Bay Financial Services

COVID-19: Support Options For Economic Development Corporations & Indigenous Businesses

Shortly after the World Health Organization (WHO) declared the COVID-19 a global pandemic on March 11 2020, the Government of Canada shut down the economy to combat the spread of Coronavirus.

Like many other businesses, First Nations Development Corporations, Medium and Small-sized non-essential companies took a big hit; revenues and sales dropped significantly. Some organizations had to layoff employees, and others had to close their businesses permanently.


On March 18, 2020, to minimize the financial impact of COVID-19, the federal government announced its $82B COVID-19 Emergency Response Package for individuals and businesses struggling with the economic effects of the Coronavirus.


If your business has been facing financial difficulties due to the pandemic, we suggest you review the list below that summarizes different types of financial support that are available to your Indigenous business due to COVID-19. It is an excellent source of information that is compiled by the Aboriginal Financial Officers Association of BC(AFOABC).

[wptb id=215572]

*Eligible employees are individuals employed in Canada during the claim period except if there was a period of 14 or more consecutive days in that period where they did not receive any pay from you. Employee eligibility is based on whether the person is employed in Canada, not where they live.

**Eligible remuneration is salary, wages and other taxable benefits, fees and commissions. Severance pay and items such as stock option benefits or the personal use of a corporate vehicle are not part of eligible remuneration.

Information in this table has been gathered from https://www.canada.ca/en/department-finance/economic-response-plan.html#businesses

Still have questions?

If you need more information, please visit Canada’s COVID-19 Economic Response Plan and read more detailed information about the financial support options that are available to your business.

Premium Deduction For Dental and Extended Health Care Due to COVID-19

Premium Deduction For Dental and Extended Health Care Due to COVID-19

Dear Plan Administrators,

Due to COVID-19 pandemic, many dental and health practitioners have been forced to close. As a result, the use of dental and some other extended health care benefits have declined.

Canada`s three major insurance companies, Sun Life, Canada Life and CINUP have recently announced premium deduction for dental and non-drug-related extended health care benefits for their group insurance clients.

Sun Life Financial

Here are the changes Sun Life is making for all non-refund clients:

  • Dental: 50% dental premium credit per month.
  • Extended Health Care: 20% premium credit on the non-drug coverage portion of extended health care benefit premium

Sun Life is going to apply the April credit to your June 1 invoice and will continue to assess the situation on a monthly basis. For more information, please visit SunLife.ca


Canada Life

  • Dental: 50% premium reduction adjustment will be applied.
  • Vision: 20% premium reduction adjustment will be applied.
  • Healthcare (excluding drugs): A 20% premium reduction adjustment will be applied.

Canada Life is going to apply the premium credit retroactive to April 1, 2020. May premium reduction adjustments will be completed on the June billing.

For more information, please visit Canadalife.com


CINUP recognizes the impacts of the pandemic and the ability for plan members to utilize their dental and extended health benefits.

CINUP is providing the following credits, retroactive to April 1st, on May 2020 billing:

  • Dental: 50% premium reduction adjustment
  • Extended Health: 10% premium reduction adjustment

Your June bill will show the credits applied for April, as well as the full premium for June. The credits will be monitored monthly and you will be notified of any changes.


For any questions and more information, please contact our group benefits managers, Mina Dingle or Kathy Cordonier. They will be more than happy to assist you.

Mina Dingle

Account Manager

Group Benefits

Kathy Cordonier

Account Manager

Group Benefits

Update on Operations at Eagle Bay Financial Services

Update on Operations at Eagle Bay Financial Services


Earlier next week, we will surpass 1 month of altered operations and work from home.
We are pleased to report that all our clients remain in business and are continuing to operate, albeit in unusual circumstances.


We were quickly able to shift our service model and continue to interact and support our clients via email, telephone, Zoom conferencing and other media. Our switchboard is operating normally. You can also reach your support team directly on their mobile devices or by email. We are striving to prioritize and respond to your queries as quickly as possible. We continue to keep a close eye on financial markets and the operational changes that insurers are experiencing.


This week we have also welcomed the newest member of our team and we thank you all for your kind words of welcome to Kate Madden. We are so pleased to have her join our team.


We know that you provide vital services to your organization and to your community and we recognize that you all are experiencing unique challenges in navigating the pandemic.


Thank you for your continued support during COVID-19 & please “Stay Safe”.


Best Regards

Nick & Ida Calla and Eagle Bay Financial Services Team

Eagle Bay Financial Services & CINUP Now Offers Teladoc, Virtual Health Services To Clients

Eagle Bay Financial Services & CINUP Now Offers Teladoc, Virtual Health Services To Clients

Especially with the COVID-19 pandemic, telemedicine services became the most convenient and easy access to quality healthcare when and where members need it most.

As Eagle Bay Financial Services, we are excited to announce CINUP’s, one of Canada`s leading insurance companies, partnership with Teladoc™ Health.

Effective immediately, Teladoc telemedicine services will be included for all employees who hold CINUP Extended Health Care coverage. Members can visit with a Canadian certified physician by phone or video for a broad array of episodic healthcare issues. During the visit, employees can receive a diagnosis, treatment recommendation, and even be prescribed medicine when necessary. With Telemedicine Services, members can stop waiting for care and get back to feeling better, faster.


Teladoc : Offering a New Front Door To Healthcare In Canada

Teladoc is the global leader in virtual care, providing convenient access to high-quality healthcare for millions of people in more than 130 countries. With Teladoc, your employees can talk with a doctor within an hour by phone or video conference from wherever they are, in Canada or the US, for non-emergency conditions like the flu, allergies, infections, and much more. Doctors can also prescribe medicine if needed.

  • Is your First Nations community located in a remote area?
  • Up in the middle of the night with a sick child?
  • Or perhaps living or vacationing in a rural location, making it difficult to obtain medical care?
  • Self-isolating and can’t get in to see a doctor?
Teladoc is available 24 hours a day, 365 days a year. Because visits are conducted by phone or video, there are no geographic restrictions to getting to high-quality care from anywhere. Employees simply can download the Teladoc app from Apple or Google Play, complete the quick registration, and request a consultation.

“ Effective immediately, Teladoc telemedicine services will be included for all employees who hold CINUP Extended Health Care coverage. ”

How To Set Up Teladoc Account On Your Smartphone: 4 Easy Steps

Here is how your employees can set up Teladoc services and access licenced physicians easily, within an hour by phone or video.;

  • Download the app:
  • Search for “Teladoc” in the App Store or on Google Play.

  • Set up your account:
  • Once you’ve downloaded the app, select “Set up your account.”

  • Enter necessary contact information:
  • Type in your name, date of birth, and postal code

  • Type in your security information:
  • Select your coverage, create a password, type in your phone number, and agree to the terms and conditions.

    For more information, you can also call 1-888-983-5236 or visit Teladoc.ca

Employees demand better benefits from their employers, and due to COVID-19, virtual health services became a vital part of health care delivery. Teladoc is designed to help you, your employees and their dependents to receive the medical treatment they need. It is a perfect solution, specifically with the distinct needs of an employer like you in mind. We know your employees are your most valuable asset, so we continually look for more ways to protect them. Teladoc will ensure the best medical support is always at their fingertips.

For more information on how to add Teladoc to your CINUP employee benefits program, you can reach our Managers Mina Dingle or Denise Perry.

Mina Dingle

Account Manager

Group Benefits

Kathy Cordonier

Account Manager

Group Benefits

Your Group Benefits Plan and The Coronavirus: Answers to Your Top Questions

Your Group Benefits Plan and The Coronavirus: Answers to Your Top Questions

COVID19 Group Benefits Plan: Answers to Your Top Questions Eagle Bay Financial

Dear Plan Members,

If you have group benefits that include travel and/or disability insurance, you may have questions or concerns regarding the Coronavirus outbreak.  If you have any queries, we encourage you to connect with your insurer directly.

The contact information for your insurer is often provided on your benefits card.

Service Canada is ready to support Canadians affected by COVID-19 and placed in quarantine, with the following support actions:

  • The one-week waiting period for EI sickness benefits will be waived for new claimants who are quarantined so they can be paid for the first week of their claim.
  • A new dedicated toll-free phone number is established to support enquiries related to waiving the EI sickness benefits waiting period.
  • Employment Insurance(EI) application for claims for clients under quarantine is prioritized.

“The contact information for your insurer is often provided on your benefits card. ”

If you are in quarantine and seeking to waive the one-week Employment Insurance sickness benefits waiting period, please contact the new dedicated toll-free phone number so you can be paid for the first week of your claim:

Telephone: 1-833-381-2725 (toll-free)

For the most up-to-date information on the outbreak, please visit the government websites below;

Public Health Agency of Canada

Employment Information – Government of Canada

COVID19 information – Government of Canada

COVID19 information – First Nations Health Authority

Pharmacare Information

Eagle Bay Financial Services is here to help!

Please contact our office if you have questions regarding your group benefits.

Keeping Calm In The Face Of Uncertainty & Navigating Difficult Markets

Keeping Calm In The Face Of Uncertainty & Navigating Difficult Markets

Dear Plan Members,

The events of recent weeks and days are unsettling, to say the least. As the COVID19 outbreak makes its way around the world, economies are being affected, and investment markets are responding.

As a member of a group retirement/pension plan program with Eagle Bay Financial Services, we would like to take this opportunity to reach out and provide you with some perspective on what has been happening. We encourage you to maintain calm & not abandon traditional investment philosophy.

Here are some important considerations:
  • Before COVID19, the Canadian investment marketplace (based on the TSX) was at an all-time high.
  • Governments across the globe are responding with monetary policy changes & are making efforts to contain the economic damage created by COVID19.
  • Canada is likely headed towards a recession due to the fast and significant decline in oil prices and commodity markets in response to supply/demand caused by the coronavirus.
  • The Bank of Canada has already cut interest rates to ease the pain.
  • We will likely see more uncertainty and volatility as the coming days and weeks unfold.
  • Down markets always have & will always provide an opportunity for investors to “buy low.”

“ We encourage you to maintain calm & not abandon traditional investment philosophy. ”

Whenever working with retirement savings, we encourage plan members to focus on long term objectives despite what may be happening in the short-term. We typically also recommend that individual investors consider investment decisions based on age & trajectory to retirement. As we approach retirement, risk exposure in equity markets should most often be reduced. Many plans take time horizon into consideration naturally using Target Date Funds.

If you’re unsure how your funds are invested or how they may be affected by the events of recent days and weeks, you can access your plan information online. You can also contact your Servicing Advisor for an overview of your investment allocation.

Amanda Calla


Group Retirement

Licenced Financial Advisor

Tiziana Cagnoni

Account Manager

Group Retirement

Licenced Financial Advisor

Making Saving Easy & Affordable – “Dollar – Cost Averaging”

Making Saving Easy & Affordable – “Dollar – Cost Averaging”

Making Saving Easy & Affordable

“Dollar - Cost Averaging”

Many people believe that they need a large sum of money to start investing. Even if you don`t have that kind of money and looking for a disciplined saving strategy, perhaps dollar-cost averaging might be the right strategy for your retirement plans.

Dollar-cost averaging happens when you invest at regular and smaller amounts of money rather than putting in a large lump sum all at once. As the asset price fluctuates, your regular contribution buys different amounts of the asset.

“Would you rather keep the cash in hands or invest your money in the markets smartly, so your money performs better?”

– Kevin Press

Let’s assume an investor contributes $100 per month for two years. Take a look at the numbers to see how dollar-cost averaging evens out the highs and lows of investing in the market. In this hypothetical situation, the investor will make $411 on the contributions of $2,400 – a healthy 8.6 per cent annual return over two years*.

Average Unit Price : $ 17.25

Total Units Purchased : $ 140.55

Total Value of Units at the end of 2 years : $ 2,811

Total Dollar Amount Invested after 2 years:$2,400

Total Return to the Investor : $ 411

Important Tips on Dollar - Cost Averaging

Start Early

Starting early and making regular investments will help you save enough for a happy and free retirement. You will be able to start with small sums and have the financial security you need for your retirement.

Prepare for Market Ups and Downs

You will have a long enough time on the horizon before you need your money and nobody can call what`s going to happen in the market correctly. With dollar-cost averaging the price of your selected funds will dictate whether you buy a lot (when prices are low) or a little (when prices are high). Just focus on your retirement goals and continue investing for your future.

Top 3 Advantages of Dollar-Cost Averaging

No Need to
Time The Market

Reduces Risks
& Loses

Convenient &

If you have limited resources or relying on paychecks for having funds available for investing, then dollar-cost averaging makes a lot of sense. It is better than waiting and trying to time the market.

It’s impossible to foresee the fluctuations in the market. Dollar-Cost Averaging helps you to minimize losses in bad markets and reduce the amount of risk you carry. With this strategy, you will simply smooth out the volatility of your investments and take the emotion out of investing.

You can easily set up your budget and start saving monthly, quarterly or semiannually for your retirement. You will also create a new habit and become disciplined in your saving and investing routine.

The bottom line is, dollar-cost averaging is typically one of the easiest and most effective ways to build wealth over time because you can start with basic things like directing a portion of your paycheck to go to a CPP or a group plan. This way you will be investing a set amount on a regular basis. This is actually an excellent way to get started and save for your retirement.

Being Proactive with Group Critical Illness Insurance

Being Proactive With Group Critical Illness Insurance- Indigenous Organizations- First Nations
Critical Illness insurance is a “Living Benefit” that provides employees with a Tax-Free lump sum payment upon diagnosis of a critical illness. It is in place to cover them for up to 30 qualifying conditions.  Some group benefits plans may also extend Critical Illness coverage to dependents.  Employees do not have to provide medical evidence to obtain Group Critical Illness.  Group Critical Illness is often much more affordable than individual Critical Illness policies.
Critical Illness insurance is designed to mitigate financial struggles when an individual is unexpectedly diagnosed with a life threatening condition such as:
  • Cancer
  • Heart Attack
  • Stroke
  • Coronary Artery Bypass
  • Multiple Sclerosis
  • and many others.
If employees or their dependants experience a critical illness, the priority will be their health. They may need extra money because of income loss, medical expenses not covered by government plans, home or automobile modifications, alternative care costs and many other unexpected expenses.


According to 2017 Canadian Cancer Statistics released by the Canadian Cancer Society, due to tremendous progress in cancer treatment, there have been big gains in survival rates. However, 277,000 people a year will be diagnosed with cancer by 2030 – a 40% rise in cases – led by upsurges in prostate and colorectal cancer cases.

“ It is important to help employees when they need it the most ”

However, a study released by BC Cancer Agency indicates that First Nations men and women experience a higher occurrence of colorectal cancer in age-standardized incident rates. There also appears to be a trend towards increasing numbers of cancer cases for both sexes. For example, the risk for colorectal cancer increases with age, but several lifestyle factors have been linked to the disease, including eating a diet high in red and processed meats, a lack of dietary fibre, a lack of physical exercise, obesity, alcohol, and smoking. Lifestyle changes might be the reason why incidence rates of cancers are rising in adults under 50.
In light of this information, management teams should ask this question to themselves: “Is it important to help employees when they need it the most?”

The Science and Software to Make Your Team Happy and More Productive at Work : Gamification

Organizations have seen the rapid ascent of computing technology for employee well-being in the last two decades. This includes a broad range of applications, employees monitoring and managing their own health, and with games transforming long periods of unrewarding work to something fun.
Organizations have seen the rapid ascent of computing technology for employee well-being in the last two decades. This includes a broad range of applications, employees monitoring and managing their own health, and with games transforming long periods of unrewarding work to something fun.

The term called ‘Gamification’ became popular in the early 2010s, and since then this engaging and behaviour developing new approach is changing our work lives. With Gamification, organizations can;

• transform long periods of unrewarding work to something much more fun by enhancing the overall employee engagement and retention ,

• invest in organizational success by opening new pathways for employees and managers to understand each other’s values and helping managers to create successful teams,

• and make behavioral changes promoting good-natured competition for employees to achieve physical and financial wellness goals. When an employee is hungry, reaching for an apple instead of a candy means mastery, autonomy, and control which are the same motivations for a gamer.

Question is can managers reward their employees with their achievements while lowering healthcare costs and decrease absenteeism?

However, the question is can managers reward their employees with their achievements while lowering healthcare costs and decrease absenteeism?

According to Ross Smith, the Director of Test, Skype at Microsoft, it can be accomplished; however, the attendance to the games should be voluntary. Determining what make things fun for employees is the challenge that managers need to solve. However, once it is figured out, the games increase participation rates and creates transparency and high trust within the organization.

A few years ago, Sun Life Financial created an online tool that incorporates gaming principles to teach plan members about retirement and savings. Users learn about topics at various stages and must pass knowledge quizzes in order to advance. They can also compare themselves with other players on leaderboards and share their progress through social media.

Seeing the benefits of Gamification urge insurance companies to embrace gamification as well. In light of this, one of Canada`s Employee Assistance providers Morneau Shepell released a program called ‘Getting to Your Gold’. The program is specifically designed to help motivate behavioural changes while connecting co-workers and Olympic athletes through an engagement program.

The primary objective of Getting to Your Gold program is to maximize employee engagement for employees` own health outcomes. In order to make it accessible to users, the program is hosted on an online portal that houses different Olympic spirit-themed challenges, athlete videos, health & wellness polls and expert advice. With this program employee engagement and total wellbeing are optimized through fun and informative Olympic spirited challenges.
• Physical Activity,

• Nutrition,

• Rest / Sleep,

• Mental Wellness.

Increasingly, we are turning to technology to support our health, and this is not likely to change anytime soon. Insurance carriers are incorporating this new approach to help their clients and examples show fun games can influence and sustain changes in healthy behaviour. Managers need to rethink how gamification can change workplace wellness from employee’s perspective because occupational, emotional and physical wellness should be the goal of our business model today.

CINUP Partnership

Eagle Bay Financial Services is proud and honored to announce that it has entered into an agency agreement with CINUP, as an authorized distributor in British Columbia.

CINUP is regarded as the premier multi-employer First Nations Benefit Plan in Canada. Because of its national scope and large scale operations, it enjoys preferred pricing and plan designs that meet the unique needs of its First Nations client base. This is one of the many reasons Eagle Bay has selected CINUP as one of its Group Benefits providers.

Eagle Bay and its First Nations clients in B.C. requires employee benefits with plan designs that meet ever-changing needs, such as the changes to the NIHB program delivered by First Nation Health Authority.

This means that Eagle Bay is now able to provide another solution or alternative to its First Nation clients by means of its access to the CINUP Benefits Plan.

This better allows Eagle Bay to deliver products and services that meet the needs of its First Nations client base.

Please contact us anytime to provide you more information and see how we can assist you with your needs. We are happy to assist.

Nick Calla


Top 3 Myths About Employee Assistance Programs


Tragic events can happen to anybody; to ourselves, our friends, our family, our children or our colleagues. It is reassuring to know that there is a system in place to help and overcome those difficult times [1].

Employee Assistance Program (EAP) provides a confidential and voluntary consultation support to employees and their families. It is completely confidential within the limits of the law [2]*. The program can be initiated over the phone, by personal appointment or online and self-guided resources.

Today the services are very comprehensive and extended to:
• Alcohol & Substance Abuse,
• Residential School and Historical Trauma
• Depression
• Relationship Issues
• Stress and Managing Anger
• Financial and Legal Issues
• Domestic Violence
• Retirement Concerns and Planning
• Mental Health Issues
• Workplace Conflict and many more…

The main goal for the program is not to punish employees but rather to:
• Encourage them to receive services needed to deal with personal issues
• Provide advice and consultation to managers and supervisors
• Promote healthy work-personal life balance
• Maintain and promote a positive work environment
• Increase employee engagement.

Today, employers explain EAP is a proactive, preventive effort to help employees identify and resolve personal issues before they have serious medical, family, and/or workplace consequences. The program also provides advice and consultation to managers, supervisors, and plan administrators to spot performance and morale issues when they occur, so the company can address the situation appropriately.

Here are some of the most common questions asked by Human Resources and Finance Managers, and business owners regarding Employee Assistance Programs.

Does EAP increase company health care costs?

 Contrary to popular belief, EAP actually Reduces Company Costs. According to Davidson Trahaire Corpsych, with help from EAP, it is possible to increase employee productivity and happiness and still reduce company costs. The company did a survey in 2013 with 4,707 EAP user companies both before and after they had accessed EAP services. The results determined that; •   The average Return on Investment (ROI) due to improvements in employee productivity was around $9,800 per employee per annum, •   ROI due to reduced absenteeism was about $280 per employee per annum. In total, the ROI per employee was more than $10,000. Morneau Shepell also looked at EAP ROI in 2011. According to the study EAP helps with a 25% reduction in health-related lost productivity costs for employers, providing an $8 return on every dollar invested.

It would be great to have EAP but, it is difficult to get everyone on board.

According to Statics Canada, in any given year, it is expected that one in five Canadians will experience a mental health or addiction problem. EAP can always provide professional assistance and guidance to employees. The program is very beneficial because it increases work morale, employee productivity and harmonized work environment while reducing absenteeism, turnover, and conflicts. If employees have access to counseling and support, everyone wins!
In addition, researchers found that EAP lowers sick days and disability claims, and increases work morale and productivity. For companies, the best scenario is to be proactive and provide access to such services like EAP.


Implementing an employee assistance program can be costly

The cost of EAP is negligible compared to the loss of productivity and performance in your organization. Like everything, of course, there are costs associated with implementing EAP, however, supporting employees with work-personal life issues; lowering company turnover and absenteeism rate doesn’t cost that much. Right now in BC, the average cost of EAP is $5.00 per employee per month, and the cost varies depending on the size of your company.

As being the decision-makers, you can promote the well-being of your employees in a truly confidential and professional manner. If you and your employees have questions, EAP has the answers!

Before making your final decision, it is better to spend some time and do your own research. However, if you don’t have the time or experience to find the best possible options, then contacting an Independent Financial Advisor can make things easier for you. With the guidance, you can make your decision with confidence.

Contact Us Today to Find the Most Suitable Employee Assistance Program (EAP) for Your Organization!


National Aboriginal Day 2015


Sunday June 21st is National Aboriginal Day. This special day that was started in 1996 is meant to celebrate the culture of all First Nations, Inuit and Mètis people in Canada. It allows people of all backgrounds the opportunity to celebrate and share knowledge about Aboriginal people`s values and customs. With events across the country such as summer solstice festivals, sacred fire extinguishing ceremonies and traditional feasts, there are plenty of things to do for the entire family.

National Aboriginal Day is celebrated on June 21st of every year. This particular date was chosen due to its correlation with the summer solstice, and coincides with many other Aboriginal group`s traditional celebrations.



Here is a list of a few events you can attend this year.


National Aboriginal Day at Trout Lake
 Date & Time: Sunday June 21, 9:00am – 5:00pm
Location: Starting at 1607 Hastings (Vancouver Aboriginal Friendship Centre) and moving to Trout Lake (3350 Victoria Drive).
Learn more here: click here

Victoria Aboriginal Cultural Festival
Dates: Friday, June 19, 2015 – Sunday, June 21, 2015
Location: Royal BC Museum campus, 675 Belleville Street, Victoria
Learn more here: click here

National Aboriginal Day – Langley
Date & Time: Sunday June 21, 12:00pm – 3:00pm
Location: Douglas Park (2055 Douglas Crescent), Langley, BC
Learn more here: click here

National Aboriginal Day Community Celebration – Nanaimo
Date & Time:Sunday, June 21, 10 am to 2 pm
Location: Bowen Park (500 Bowen Road, picnic area off Wall Street), Nanaimo
Learn more here: click here

JIBC National Aboriginal Day Celebration – New Westminster
Date & Time:Wednesday, June 17, 2015 10 am to 2:30 pm
Location: JIBC New Westminster (715 McBride Blvd), New Westminster
Learn more here: click here

National Aboriginal Day – Williams Lake
Date & Time: Sunday June 21, 10 am to 2:30 pm
Location:Boitanio Park (Borland St. & 7th Ave.), Williams Lake
Learn more here: click here

First Peoples’ Festival – Victoria
Date & Time: Sunday June 19 – 21
Location:Inner Harbour Ship Point (wharf and broughton), Victoria
Learn more here: click here

National Aboriginal Day – Richmond
Date & Time: Sunday, June 21, 1 pm to 3 pm
Location:Gulf of Georgia Cannery National Historic Site (12138 Fourth Avenue), Richmond
Learn more here: click here

Whistler National Aboriginal Day
Date & Time: Friday, June 19, 10 am to 4 pm
Location: Squamish Lil’wat Cultural Centre (4584 Blackcomb Way), Whistler
Learn more here: click here

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