Volatility. It's Back......
At every meeting, I have indicated we were expecting this. However, it doesn't make it any easier when it happens. Here are some articles and information to help put this in perspective. But as always, it's critical to ensure that you are in the right position. Think we need to make changes? Let's talk.
Given the current markets and headlines,some people may be tempted to think their money would be better off under their mattress than in stock markets that are subject to global unrest.
illustrates the annual rate of return (grey bars) for the S&P 500 going back to 1980. Also plotted on the chart are the intra-year declines (red dots with negative numbers) experienced in the market every year over that time period.
J.P Morgan Asset Management
- The market has experienced a drop of some magnitude every single year over the past 35 years
- The average market drop each year is 13.8%
- In 29 out of 38 years (i.e. 77% of the time) the market has ended up finishing the year with a positive return
Portfolio Manager, Alfred Lam discusses the markets during the financial crisis in 2008-09, which were trading at significant discounts as global economies were suffering a recession. Today, almost nine years later, the U.S. and Canada are thriving with full employment and economic growth. Alfred explains why his team is both constructive and cautious.
RRSP's, Taxes & All the Money Stuff...
February is always the month where we start to get our act together for receipts and taxes (or we should). That's right! RRSP deadline is approaching. We are now past the holiday festivities, and we're getting a little weary of winter.
So, this month I suggest you take 1 Sunday morning and focus on what you can do to get your financial house in order for 2018! Here's an article on tax basic to get you started
Personal Income Tax Basics
1) RRSP contributions are still a great planning strategy. Make sure you are reducing your income now, and taking advantage of delayed taxes if your income warrants it.
2) Pay yourself first. Set up monthly contributions to ensure you are saving for yourself. Emergencies, RRSP's, TFSA's, all are better served if you save a little every month.
3) Start saving your receipts for 2018 yourself. Ensure that you have proof for all expenses, just in case CRA decides to request proof. With most returns being submitted online, and the many changes in the tax rules for business owners, and there are likely to be more audits, and requests to verify receipts than ever before. Be ready, so you aren't wasting your valuable time. link to personal income tax
4) Use a tax professional, accountant or bookkeeper. With the added complications, they are often worth their weight in gold! We can refer you to a professional if you would like assistance.
5) Send your Financial Advisor your Notice of Assessment when received. We help ensure that you are on track for your RRSP's, TFSA's, and it allows me to better understand how we can plan to better manage your income in the future.
6) Simplify your life. There are great opportunities to automate most bill payments now, and easily track them. Set up your utilities, and basic items to be automated. But ensure you sit down once a month to verify the payments, amounts, and keep track. That way, you never miss a payment, but you are still on track for problems, changes, and can deal with problems within the usual 30 day window.
Think this doesn't matter, think again! They have found a link between money and health. Those that are more effectively managing their money tend to also lead a healthier life. By reducing financial stress you can focus on enjoying all the other parts of life. Check out the article. Continue Reading
Sometimes cash and financial planning can be overwhelming especially during RRSP and Tax season. Call us for help.
Reminder: RRSP Deadline for 2017
Thurs. March 1st.
Maximum contribution for 2017:
$26,010 (or 18% of your earned income in the prior year, less any pension adjustment)
Maximum contribution for 2018:
$26,230 (or 18% of your earned income in the prior year, less any pension adjustment)
Contact us to learn more about RRSP Loans and Retirement Plans available to you.
As a Business Owner, making new contacts is always helpful to continue to build your business.
Time: 5 to 7 pm
Location: Assante Capital Management Ltd.
9130 Leslie Street, Suite 302 - Richmond Hill
A special evening in conjunction with
Richmond Hill Board of Trade
( 2017 Business After 5 in Snapd Richmond Hill)
Join us on
, February 14 at 2 p.m. ET for the first quarter webcast of Wealth Matters for 2018.
CPP & OAS -wondering when to apply, This session is for you. Join experts as they explore the factors that could impact an individual in or nearing retirement and their decision on when to begin receiving government benefits.
After the CPP discussion, learn about US equity investments. Rick Vandale, Managing Director, Global and U.S. Portfolio Management, Epoch Investment Partners, will provide an overview of Epoch's outlook and investment strategy for the U.S. Equity Value Pool in 2018.
Click Here To Register
February 11, We Can Change The World Day Jam
unique event with surprise performers, speakers, and activities! Door prizes and raffles, merchandise, and more to fundraise for We Can Change the World Day's project Kalthana school in Rajistan, India.
March 1, Richmond Hill Board of Trade Business Achievement Awards.
The awards recognize leading local businesses and their commitment to Richmond Hill's future. Assante Richmond Hill is pleased to be a finalist this year.
Daniel Clarke Bouchard- Classical-Jazz Pianist, Entertainer & Child protege.
As a sponsor of this special event, I was fascinated to hear that this protege that has been featured at Carnegie Hall, and a guest on Ellen is playing at RHCPA.
Click Here for a complete list of great upcoming shows at the Richmond Hill Centre For The Perfoming Arts including Rosanne Barr, Rik Emmitt and much more
This material is provided for general information and is subject to change without notice. Every effort has been made to compile this material from reliable sources however no warranty can be made as to its accuracy or completeness. Before acting on any of the above, please make sure to see me for individual financial advice based on your personal circumstances. The opinions expressed are those of the author and not necessarily those of Assante Capital Management Ltd.
Insurance products and services are provided through Assante Estate and Insurance Services Inc. Assante Capital Management Ltd. is a member of the Canadian Investor Protection Fund and is registered with the Investment Industry Regulatory Organization of Canada.
Assante is an indirect, wholly-owned subsidiary of CI Financial Corp. ("CI"). The principal business of CI is the management, marketing, distribution and administration of mutual funds, segregated funds and other fee-earning investment products for Canadian investors through its wholly-owned subsidiary CI Investments Inc. If you invest in CI products, CI will, through its ownership of subsidiaries, earn ongoing asset management fees in accordance with applicable prospectus or other offering documents.
Services and products may be provided by an Assante Advisor or through affiliated or non-affiliated third parties.
Dates to Remember
Feb. 13: Business After 5 Wine & Cheese
Feb. 14: Wealth Matters Webcast.
Feb. 19: Family Day, Ontario
Mar. 1: RRSP Deadline for 2017
Mar 1: Richmond Hill Board of Trade Business Achievement Awards
Mar 5: Daniel Clark Boucher, at RHCPA. Check out this child protege
Mar 15: 1st tax installment due
Senior Financial Advisor
Assante Capital Management Ltd.
Ph (905) 707-5220
Fax (905) 707-1035
9130 Leslie St.,
ON L4B 0B9