Financial Library

A Very Merry Christmas to All!

By the time you receive this, we'll be halfway through December and going right into the Holidays. The end of the year is fast approaching and it has been quite the year! As I mentioned in my last newsletter, 2018 has been a rough one. Both Canada and the USA had hit record highs earlier in the year but we're certainly not at those highs right now. We had a very rough October and there continues to be a lot of global uncertainty. Here in Canada, we've struggled with very low prices for our oil.

How Important is it to Have a Will ?

Most Canadians want to pass their life savings on to their heirs. The assets remaining once retirement needs are met will be distributed more effectively if there is a properly prepared will detailing the deceased's wishes. Many people mistakenly believe that this issue is far in the future. Preparation of a valid will and its related estate planning considerations should be the cornerstone of a proper estate plan. Whenever there is a change in circumstances, the will should be reviewed and updated as needed.

Boomer Advice to Young People: Invest Early & Diversify

When asked if they had any regrets, Baby Boomers wished they had started investing and saving at a much earlier age. Hindsight being 20/20, the Boomer generation can pass on some much needed advice and guidance to their kids and grandkids. It is normal for younger people to focus on earning money to accommodate their lifestyle but few have the foresight to pay themselves first. It is easy for younger generations to imagine their whole life ahead of them and have the attitude that of course I'll be financially set when I'm ready to retire'.

A Spooky October

Although the economies of Canada and the United States have been chugging along nicely (with Canada at or near full capacity according to the Bank of Canada), we struggled through an awful 31 days last month on the market. It was one of the worst Octobers since the Financial Crisis of 2008. While companies are still very profitable, many aren't enjoying the stress of tariffs and trade wars. Further to this, both the Bank of Canada and the Federal Reserve have hiked Interest Rates. This puts pressure on companies and depreciates the price of bonds.

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