SPECTRUMLY SPEAKING
April 2022
Greetings!

We hope this newsletter finds you and your family all well and enjoying some early signs of spring.

As you embark on your spring cleaning indoors and out, remember it is also a great time to review your financial situation. With higher inflation costs, increasing interest rates and the continued volatility in the markets, we want to be sure we are making any necessary adjustments to your planning. Be sure to reach out to us and organize a time to get together, whether in person, virtually or by phone.

In addition to providing some valuable information below, we have some internal changes here at Spectrum to make you aware of ~ be sure to scroll down to see our announcements.

We want to wish everyone an enjoyable Easter or Hanukah celebration.

Please continue to stay safe, stay in touch, and stay positive.

Karen, Richard, Janet, Sheila & Jeni
Articles of Interest
Federal Budget 2022

Over the last 2 years, the Federal government spent massively on combatting COVID-19 and its economic fallout. In this year's Budget the focus shifted to a number of areas including increased spending on health care, national defence, climate measures and housing.
Positive highlights ~ there were no changes to the personal tax rates or the capital gains inclusion rate!

Tax Free First Home
Savings Plan (FHSA)

One of the Budget proposals is a new Tax Free savings account to help Canadians save for their first home.

How does this differ from the current First Time Home Buyers RRSP plan or the regular TFSA?

If you or your children are saving for a home, let's get together to chat about the various options and what may be best for you!
New minimum standards for Financial Advisors
Up until recently, anyone could call themselves a Financial Advisor but new regulations are being phased in and will include a minimum standard of education, supervision by a credentialing body and a complaints process.
This is good news ~ it will give the consumer confidence that they are working with a professional.
The Importance of a Long Term Perspective

If you are concerned about the future of your investments, going back in time to view other market declines can help you understand how these corrections typically progress. Uncertainty is a normal and frequent part of investing. We must be careful not to let short-term fluctuations drive our decisions or take us off track from our long-term financial goals.
Smart Ways to Use your Tax Refund
If you overpaid your taxes and/or qualify for certain tax credits, you’ll get a tax refund.

Although it is tempting to splurge, here are 10 suggestions on how to use your refund responsibly and have it make an impact on your future.

Be sure to keep a little something for a treat!
Spectrum Office Updates
Wishing Sheila well !!
It is never easy to say good-bye to someone that has been a tremendous support to your team for such a very long time.

Sheila has been an incredible part of our Spectrum family and will be so dearly missed for not only her sunny disposition and guidance, but for her friendship.

We wish her the very best in her future endeavors, wherever her journey
may take her.
Welcome Jeni!
Jeni Hanna is the newest addition to our Spectrum family and we are excited for you to meet her.

Jeni comes from a varied background, that includes 5 years with Manulife Financial in Vancouver, BC. She enjoys vintage clothing, photography, and gardening.

She will be taking over Sheila's duties effective April 18th ~ please extend a warm hello when you get the chance to speak with her!
Richard turns 80 !!!
On May 5th, our Richard turns 80!!
WOW !!

With continued pandemic concerns however, we will not be planning a group celebration, but would welcome any wishes, shared memories
or thoughts you may wish to extend.

These can be emailed to spectrum@spectrumfinancial.ca and we will compile & prepare a lovely birthday collection to celebrate this incredible man!
Financial Markets
Week in Review
For those interested in a deeper look at what happened in the financial markets this past week, this is for you.