SPECTRUMLY SPEAKING
June 2023
Hello!

We hope this newsletter finds you and your family all well.

June can be an exciting month for many, especially our young ones about to embark on summer break from school! It also boasts Father's Day which is a wonderful time to reflect on what that figure means or has meant to us in the past.

Coincidentally, June 18th is also International Picnic Day! Sounds like a great combination to honor someone special. It doesn't have to be elaborate ~ Keep the food simple, find a new park to explore, print off a scavenger hunt checklist or bring a football and spend some quality time!

Stay healthy, stay safe, and stay in touch!
Karen, Richard, Janet & Jeni
Articles of Interest
Investing is a Marathon,
Not a Sprint

Investing and running a marathon are both long-term journeys; trying to rush either can land someone exhausted! There's no way to perfectly time your investments, so it's important to train your way to the finish line, by investing early, investing regularly, and investing enough. This article shows how "off" forecasters were last fall, and how following their advice wouldn't have gained the returns that a comprehensive plan would.
What Personality Trait Can
Help You in a Recession?

Research has shown that our dominant personality characteristics play a huge role in how we make money decisions. There are the "Big Five" personality traits that psychologists study: extraversion, agreeableness, conscientiousness, openness and reactiveness. Click the button below to find out which trait behavioural economists view as being the most important when it comes to our money making decisions. 
Bank of Canada Raises
Interest Rate to 4.75%

Holding steady since January, The Bank of Canada decided to raise it's benchmark interest rate to 4.75% earlier this month. Now standing at it's highest level since 2001, it may not be finished. This recent hike is another hit to homeowners and property owners, resulting in yet higher mortgage & rental rates. This article outlines the reasoning for the hike, and how it's ultimately most affecting vulnerable Canadians while it may not be fixing the underlying inflation issue.
The CRA Vs.
Professional Athletes

Baseball superstars who have made millions playing in Canada are finding themselves in court against the CRA. The issue being, how much income the players can deduct from their taxes through contributions to a pension plan, and what constitutes a valid pension plan according to the CRA. Many times a Retirement Compensation Agreement (RCA) is set up through the employer, but the terms aren't always in agreement to the CRA rules. The purpose of an RCA is, to defer income taxes and provide income during their retirement. Our high tax rates do not make Canada an enticing location for professional athletes to spend part of their often-short careers.
S-Curve Ahead!
The road to managing your money may be winding, but with a steady hand and focus you can manage safely. 
Click the above graphic for some solid ways to manage your finances. You're one step ahead of 74% of Canadians already by having a Financial Planner! If any of your circumstances have changed since last we checked in - please reach out!  
Spectrum Office Updates & Tips
Earn 5% With Manulife
Bank's Advantage Account!
Are you sitting on cash and want to earn more?
You can now earn 5% for the next four months, when you open a new Manulife Bank Advantage Account. Even after the promotional period, you will still have the account Forbes Advisor Canada, has named the Best Integrated Chequing and Savings for 2023.
For full details, and to easily apply online click the image,
or as always, give us a call!
705-725-0562.
Summer Hours
This note is to let you know that as the summer approaches we may escape early on some Friday afternoons.
You also may find that we are minimally staffed, as we take some time off to enjoy the season with our families.

We appreciate your understanding and hope you are also able to take some time off to relax, rejuvenate, and have fun this summer!
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.