When life puts a pinch on your finances it’s hard to decide what to do. If you and your family are faced with tough financial choices turn to your advisor for help navigating your wealth worries.
Temporarily laid off
Many people have found themselves temporarily out of work lately. While different levels of government have stepped in to help, you may need your advisor’s assistance to decide how best to access money on a short-term basis. Perhaps you have an insurance policy with cash you can access in such a time. Or maybe you’ll have to dip into your investment accounts. But which one? Your advisor can look at the tax consequences of each option and decide what is best for your situation. If it comes to selling investments, your investment team can also give you tips on what might be best to sell during a period of market volatility.
You cannot turn on the media without hearing news of the Coronavirus. World markets have seen quite a bit of movement as fears of the virus spread. While we can’t specifically say when this volatility will end, we can tell you that the Watermark team excels at navigating clients through market turbulence. So, we’ve compiled 5 tips to help you steer through COVID-19 and your investments.
Ever wondered how your finances rank against other Canadians? The Canadian Payroll Association (CPA) recently published an 11-year study on the financial well-being of Canadians.
As I’m reading the study, all I can think about is David Chilton’s book, The Wealthy Barber. What a great title for a book, eh? That simple title lets you know what this study is basically telling us, it’s not how much you earn, but how much you save.
The study shows that the financial well-being of Canadians has room for improvement. It provides insights into how much (or little) Canadians save. I know we’re financial nerds here at Watermark Stone Wealth, so perhaps our interests are a bit skewed, but the findings were really interesting! For instance, we’ve all done it. Heard the salary of a friend or neighbour, and thought:
On February 1st we shared market and economy expectations for 2020. In it we shared insights gleaned from the Year Ahead Investment Conference held on January 20th. Since then there has been much talk about the Coronavirus and how it will impact the markets and economy.
Our investment professionals, Chuck Magyar and David Lyon, recently attended the 14th annual iA Securities Year Ahead Investment Conference in Toronto. The day brings top investment minds together to provide market and economy expectations for 2020.
For the 4th year in a row your team here at Watermark Stone Wealth will be volunteering with the good folks at Dixon Hall Neighbourhood Services. The entire team (Stewart, David, Chuck and Kate) will be participating in the Meals on Wheels program December 18th. In lieu of sending holiday cards to you, our wonderful clients, we’ll spend the day delivering meals to those that need some additional help.
The world can be a busy place and carving out time to simply exist can be difficult. Can we try to shift the focus and be better off? We sure can. We have some tips to share on how to remain grounded.
Can you believe it? November is here! How 2019 seems to have flown by!
Halloween has now come and gone, we have all eaten way too much candy (perhaps) and now we are going to be subjected to 2 months of dizzying pressure to buy gifts for the holiday season. Christmas and Hanukkah…all rolled into one huge, pressure-filled, buying frenzy, celebration.
Can we avoid this? Can we remain grounded and not be swept up into the commercialism of this upcoming holiday season? Here are a couple of tips to keep in mind between now and the end of the year:
Should you be paying your child’s allowance digitally? We explore cash vs. cashless technology and how best to teach your kids about money using their allowance.
According to an analysis by Forex Bonuses, Canada is the top country for embracing cashless technology. And the trend goes all the way down to our kids. A 2018 study by TD found that “nearly 68% of parents said their children are more or just as comfortable using digital payments as they are handling cash”.
Bad investment habits can hurt us financially, so we’ve come up with a list of 10 bad money habits we think are worth noting. Hopefully you don’t see yourself in any of them, but if you do, maybe you’ll think twice next time and recognize these in yourself. I think in time we can all break these 10 bad investing habits for better investment results.
Reaching for returns
A risk discussion is one of the most important conversations to have with your advisor, both when you first open your account, and when you experience significant life events.
Investors get into trouble when they go outside of their comfort zone. Investments that provide remarkable positive returns in rising markets can also have great dips in falling markets. When markets are rising, you can feel like a genius, but when markets take a tumble, the losses can send you on an emotional roller coaster. This often causes investors to panic and sell into a dropping market – not ideal for long-term investing.