The Fall out for September!
Its hard to believe that September is here. With cautious optimism, I wonder what the next 6 months will offer.
Some things are returning to normal, while somethings are forever changed.
Its easy to recognize the challenges, I prefer to look at the opportunities.
However, as a planner my job is to find both and be prepared - a little like a girl guide! As we move into this next cycle, with more openings and school back in session, what can we expect?
Our office is open. While some of us will continue to work from home, I will be in the office more often. I will continue to have virtual meetings, as we can accomplish everything that way and it provides more consideration and safety for our clients.
Schools re-opening is important. It will help the children to be re-united and get back into their education. In fact, it's helping us to recognize how important education is. This month we've found a few great articles about RESP's and best ways to use them.
Markets have recovered beyond what we expected. When governments intervene with stimulus, it's easy to have the economy and the markets disconnected. Hence our chart below. Now its up to us to be creative, innovative, and Canadian focused to help get our economy back on track.
This shut down will cause a shift. What can we do to manage this, to minimize the negative impact? Each of us recognizing that we must ensure we look at the big picture, to support "main street" and the local businesses as much as we can. They need our support, Amazon does not. Main street is not reflected on "wall/bay street", and right now, that is being driven by the same mega-cap companies that keep getting bigger. Which is why markets appear to be strong. It's not the whole market, it's the few that are on a run. The positive side of this, is we have many companies that have potential and their stock prices have appreciated, but may be still fairly valued. Remember the stock market is many different stocks, and each is reacting very differently in this scenario.
Provide the same attention to the non-profits that we passionately believe in, even if they aren't holding their regular events, we can each have impact in a small way. If you realize that you donated $300 to Canadian Cancer society because your friends participated in events in 2019, then do the same this year. Many charities that aren't top of mind during this event are being hit hard, but you can help change that.
One day at a time. I am working at appreciating what we have, and appreciating my ability to continue to work with my amazing clients, and dedicated team. Thanks to each of you for your support.