Spread some kindness today

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Pizza lunch to say thank you…

Administrative Professionals Day

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A Gift of Kindness

Quarantine Easter

Easter this year, make it more about spending time together and the things you can still do.

A Quarantine Easter

Easter is certainly going to be different this year, here are some ideas for things we can still do together.

It’s not just for the kids. It’s also the time we spend together with our family and friends. The visits and the special meals together.

Here are a few idea’s to help keep the kids busy and a few suggestions on how to spend Easter with your family during the Social Distancing /Quarantine for COVID-19 .

1) Easter Egg Games with your Kids

•         Be Creative- have a Contest to see who can colour the best Easter Egg. You can draw your own or find a free Template online.

•         Use a Package or two of Peeps. See who can stack the most peeps in under a minute.

•         Break apart all your plastic Easter eggs, and see who can put together the most matched eggs in under a minute.

•         Create a race course, see who can complete the course the fastest while balancing a plastic egg on a spoon.

•         Stacking Eggs- Use plastic Easter eggs to see who can stack the bottom or top half the highest in a minute.

•         Bunny Tails- Stand on a chair or a stool. Place a cotton ball on your nose. Carefully let the cotton balls fall into a bowl, the winner is whomever has the most bunny tails collected in a minute.

•         Have an Easter Egg Hunt in your backyard. First, parents hide eggs for the kids, once they are all found, start over. This time have the kids hide eggs for the parents (trust me it’s fun).

2) Bake- a Special Treat

•         Bake and decorate Cookies.

•         Keep some for your family and then you could deliver some to family or friend.

3) Have a Special Meal

•         If you enjoy cooking then make that Big Special Meal. Then share the extras with a family or friend by delivering to them.

•         If you want to treat yourself- Order Take Out from a Local Restaurant (you could order something special for you and your special someone. Keep in mind if you have little ones, you could do take out from 2 separate places, so everyone enjoys:)

•         If you have the funds you could order a Take Out Meal for a friend or someone in need. Call them in advance and let them know and ask if you can deliver it for them as well.

4) Movie /TV show Date

•         Setup a date to watch a Movie with a Friend or Family. It could be a Movie you both own or one that is on the TV.

Schedule a phone call, Face-time, Skype, Zoom, Google Meeting or Online Hangout of your choice. This way even though you are not together physically you are still enjoying time together.

5) Spa @ home

•         Set a time where you treat a loved one with a foot or back massage, even if it’s just for a few mins.

•         If you have daughters, they would enjoy a Spa day, treat them to a Mani + Pedi.  Get creative and enjoy the time.

•         Afterwards you may need to enjoy a nice relaxing bath with a glass of your favorite beverage to spoil yourself.

7) Phone a Friend

•         Use this time to call a friend or loved one and have a nice catch up. This is the safest way to visit and keep everyone safe and healthy.

8) Go for a Drive

•         Make a schedule and plan a route, then go for a drive. When you leave your house call the first person and let them know you’re on your way to drive by.  Make signs or have the kids make signs. When you are leaving for the next house call or text them to let them know to watch for you:)

9) A Book

•         Wrap up a book you’ve read and want to share with a friend or family member.

•         If you like you could order a new book or a Gift Card, online and have it delivered to their house.

•         Include a new bookmark- be creative and make one, or have your children make some bookmarks as a craft.

10) Decorate outside

·         Use sidewalk chalk to write Easter messages on your driveway or sidewalk

·         Decorate with plastic eggs or homemade chicks and bunnies in your windows

Stay Home, Stay Healthy and Safe!

Michelle

Financial Terms you may be hearing and what they mean...

Recession: a period of time in which a country’s economic activity declines for 2 or more quarters (6months) in a row. 

This is determined by looking at these 5 things:

GDP (the final output of all goods and services produced), income, employment, manufacturing, and retail sales.

Obviously with what is happening in the world right now this looks like a real possibility depending on how we manage the flattening of the curve.

Usually by the time the reports are published and analyzed we are already in a recession. 

Once people are back to work and the income, employment and manufacturing etc. return we will be out of a recession which is called:

Economic recovery - a business cycle following a recession that is determined by a period of improving business activity. This is when economic recovery, gross domestic product (GDP) growth remains positive as the economy rebounds.

What happens in between – this is where all those letters come in

L shaped Recovery – an economy that declines steeply and stays that way for an extended period.  This happened in Japan in the early 1990s

W shaped Recovery (Double Dip) – two economic recessions and recoveries that are back to back.  This happened in the US in the early 80’s.

U shaped Recovery – decline is gradual then a recovery starts slowly and picks up speed

V shaped Recovery - the economy experiences a sharp decline that is brief followed by a strong recovery

Sometimes when you know the meaning it’s not so scary!

Jodi

Non-Toxic Spring Cleaning

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Emily Rodrigues is a Friend of Financial by Design and she wrote this post for us.  She has experienced dermatitis from harsh chemicals and now tries to live a toxic free life.  She enjoys researching chemical free products to keep the world a healthier place to be.

She’s also given us some recipes for homemade cleaning supplies that are natural and they work!

It just feels like it’s a great time for cleaning!

 If you have questions or want to follow her on social here is her information.

 @emilypaigerodrigues on Instagram

Hey Everyone,

To say the last few weeks has been a whirlwind would be a massive understatement. I think it’s safe to say this is unchartered territory for the entire world! And amidst the chaos, we are all being advised to stay home.

So, now that we are all at home and last week we saw the first day of spring, I guess it’s time to do some Spring Cleaning! I know a lot of grocery stores have been sold out of chemical cleaners that we have historically used to get that “deep clean” going in our homes. But I’m here to tell you that YOU DON’T NEED IT! Actually, you are better off NOT having it at this point! Many chemical cleaners contain harmful ingredients that can have a range of health effects from decreasing your immune system function, decreased respiratory function, endocrine and reproductive disruption, as well as skin irritants and allergies. So let’s talk about some chemicals to stay away from:

Fragrance: According to the Environmental Working Group, the average fragrant contains about 14 secret chemicals that aren’t listed on the label, many of which are linked to hormone disruption and allergic reactions, as well as about 80 percent of them not being tested for human safety in personal care products

Ammonium Hydroxide (AH): This is a common chemical found in drain cleaners, toilet cleaners, oven cleaners, glass and metal cleaners, and general surface cleaners. AH is a known allergen, asthmagen, and can cause respiratory and skin irritation. Some “well known” household products that contain AH are- Lysol Disinfecting Spray and Windex

Diethylene glycol monomethyl ether: This is found in a few heavy-duty cleaners and degreasers. The European Union suspects this chemical of damaging fertility or the developing fetus (ECHA 2011) and has essentially banned it in cleaners (EU 2008). These solvents are readily absorbed through the skin or via inhalation and can reach toxic levels in the body

There are literally hundreds of other chemicals I could go on about all day, but I want to get back to our SPRING CLEANING, and talk about what we can use to clean our houses safely using products that are #nontoxic! If you do want more information on the dangers of some products and the effects they can have on your family’s health, you can find it at: https://www.ewg.org/guides/cleaners/content/cleaners_and_health/

So here are some natural, inexpensive, and #nontoxic cleaners you can make at home:

Multipurpose Cleaner:

·         1 part water

1 part white vinegar

·         Essential Oils of your choice- you can use as many drops as you want, making it as weak or strong smelling as you would like (if you don’t have essential oils on hand, you can use lemon rind as well)

Mix everything together in a spray bottle and get cleaning (if you use lemon rind, you may not begin to smell a strong lemon scent for a few days as it saturates in the vinegar/ water solution)

I use this concoction to clean virtually every surface of my house, including my floors! I think a jug of vinegar costs $3 and lemons are $.50, so by making the switch to non-toxic you are not only helping your family to be healthier, you’re saving $$ along the way!

Glass Cleaner:

·         2 cups water

·         1/2 cup white vinegar

·         1/4 cup rubbing alcohol (70% concentration)

·         1 to 2 drops of essential oil

You can skip the essential oil; it’s only used to add a fresh scent. Again, mix everything in a spray bottle and label it

Kitchen Degreaser & Stainless Steel Cleaner:

4 Tablespoons Baking Soda

·         4 Cups of warm water

Mix together to create a paste and apply with a damp cloth. Rinse off and dry with a dry cloth.

You can clean out old bottles of your traditional chemical cleaners and refill them with your natural and #nontoxic ones, saving another plastic bottle from entering the landfill. I hope this helps everyone in jump starting their spring-cleaning and making some positive, healthy changes for your family and your home.

Things you can do to set yourself up for success when self-isolation ends

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Things you can do to set yourself up for success when self-isolation ends.

These are certainly scary times. It’s easy to stay living in fear but my suggestion is to don’t let it consume you. If you need to, allow yourself to be fearful for a set time period everyday – say 10 minutes, and then get on with living!

Remember the days you were begging for more time to complete tasks. Now’s your chance.

Things to Do:

Look at your finances. Now is a great time to look at what comes out and what will be coming in each month. What are your monthly expenses? If your income was or is going to change over the next months is there anything that can be cut back on now? No use waiting and having it all happen as a big surprise. Preparation is key.

Do you have a budget? How much are you spending on debt and interest payments? It’s a great time to be open with your partner and take a real look at any debt that has accumulated. Work as a team to figure out a plan to knock this down once your income returns to normal. Your monthly cash flow will thank you for it.

Set up a strategy to start saving for a 3-month emergency fund. Money isn’t everything but it gives you choices. Imagine if you were living through this event with no financial worries because you had a safety net for the monthly expenses you figured out above. Start planning for how you can set that up for the future.

Now that you are having to do without some everyday things, discuss what habits/expenses you can and can’t live without when things get back to a normal routine. (think Starbucks, Tim Hortons, gym memberships, lunch out every day)

Develop new healthy habits. Now that you have time, you can prepare healthy meals as a family. Teach your kids how to cook and measure things.

Eat as a family at the table. Use your good china (Is that still a thing?) Set up a picnic on the family room floor.

Is there an area of your house you’ve been meaning to de-clutter, rearrange or thoroughly clean? Or flip your mattress and clean your windows, change your smoke detector batteries.

Have a sleep over with your family in the living room in sleeping bags. Make s’mores.

Visit a virtual museum or zoo – here’s the links

https://zoo.sandiegozoo.org/live-cams

https://naturalhistory.si.edu/visit/virtual-tour

Remember to stay safe and keep your mind positive by keeping it active. You can drown in fear or you can make progress. Your choice!

-Jodi

A Word from Our Partners

How To Think About The Corona virus Pandemic: The Big Picture

March 17, 2020 • Brad McMillan

With everything that is happening in the world, now is a good time to step back and think about where we are and where we might be going. There is a tremendous amount of information available. But what’s missing is a framework for that information that would help clarify the big picture.

What I want to do today is outline how I see that big picture, which will hopefully provide a framework to understand where we are headed. In the next couple of days, I plan to go into more detail on the individual components.

Breaking Down The News

First, we have to break down the news. There are three different issues that we need to consider, and the news often conflates them. The issues are (1) the virus itself and the pandemic, (2) the economic impact of the pandemic, and (3) the financial market implications of that impact. By considering them individually, we can gain some clarity.

The virus itself.

The base question is whether the virus is controllable or not. And the answer is yes. In the absence of restraints, the virus will spread—as we saw in China, in Italy and in the U.S. But when proper restrictions are put into place, it can be brought under control. This idea has been proven in China and South Korea, and Italy is now reportedly stabilizing. Here in the U.S., we understand what has to be done, and we are now doing it. This is the end of the beginning.

Unfortunately, we are not out of the woods just yet. Everyone now knows what to do and why, as well as what the stakes are. If we just stay home, things will eventually get better. But there is usually a lag of about two weeks between the time that restrictions are put into place and when new cases stabilize. So, we can expect the news here to get worse for a while. We are likely past the point of maximum danger, but we are not past the point of maximum impact. Even as the rate of spread slows, expanded testing will make it look like things are getting worse. Expect to see that story in the headlines.

The economic impact.

The economic damage is certainly real. But going forward, the question is whether the next year will look like it did after 9/11—or like 2008.

Right now, the resemblance to 9/11 is much greater. The pandemic is an outside shock to the economy, which has generated fear and will slow consumer and business spending, much like 9/11. As such, like 9/11, the economic impact could pass once the fear does. That is the base case: real damage, but then a recovery as confidence returns. The economic impact will, however, likely be worse than after 9/11. The slowdown in spending is very likely to be worse and longer lasting this time, which could (over time) turn the 9/11 into another 2008.

This scenario is something we must keep in mind, but whether it happens will depend on whether government policy is sufficiently supportive to both workers and businesses affected by the drop in demand. Here, the news is good. The Fed acted fast and hard to provide monetary stimulus. Unlike 2008, the Fed has clearly stated it will do what it needs to do in order to avoid a crisis. The federal government is also in the process of responding with economic support. While that process is not yet complete, signs are that any necessary support will be available, minimizing the chances of another 2008. There will be economic damage, but with proper policy support, it is likely to be limited.

Financial market implications. Finally, when we look at the markets, we see a clear expectation that the pandemic will continue and that the economic damage will be substantial. While that still may end up being the case, policy actions both here and around the world have made that substantially less likely in the past week. Signs are that the pandemic will be brought under control and that the economy will get enough support to weather the storm. Make no mistake, there will be damage. But from a market perspective, the question will be whether the damage is greater than markets now expect, or less. Signs are that the damage will be less, which should support markets going forward and eventually enable a recovery.

What Happens Next? The crisis is not over. We can certainly expect the headlines to keep screaming and even get worse over the next couple of weeks, which could keep markets turbulent. We know, however, what is needed to solve the problem and that those measures are largely in place. By keeping the framework discussed here in mind, we will be prepared for those headlines and able to see the gradual improvement underneath them.

This is a difficult time for everyone, and worries are surging. Although those worries have allowed for the necessary policy changes to solve the problem, worry is always difficult. As we move forward, keep in mind that while the concerns are real, so is the policy progress. In the not-too-distant future, we are likely to see the virus brought under control here just as we have seen in other countries. Keep calm and carry on.

Brad McMillan is the chief investment officer at Commonwealth Financial Network.

Office Updates concerning the Coronavirus

Office Protocol at this time

We hope that you are healthy and at home safe and sound!

We want to let you know that we continue to monitor the updates of the ever changing news on the Covid 19 virus and of course market conditions.

Currently we are in the office and available for phone consultations and to answer any concerns you may have.

We do however share office space with another company who is practicing strict protocol with all of their clients and staff.  Therefore the front doors to our office are locked, however we are still here.

We are requesting that instead of dropping by the office that you call us to set up a phone appointment and if you absolutely need to visit the office to pick up or drop off any items, then please let us know ahead of time so we are able to meet you at the door.

For now we are working out of our building however there may come a time when the government tells us this is no longer an option. 

We want to let you know that we have all capabilities of working from home and that digital signing will be available.

We have access to all of our systems and will continue to be able to service your needs, even if it is at a distance.

We hope that you stay happy and healthy!

Please reach out if you have any questions or concerns.

Also please follow us below on social media to keep informed of any updates.

Thank You

Jodi, Michelle and Bonnie

Golden Slumber

Life always seems to busy! The big question is, Does your schedule allow enough time for a good night’s sleep? All too often sleep gets put on the back burner in favour of finishing household tasks or preparing for tomorrow’s important presentation. In fact, a report by Statistics Canada found that one-third of Canadians sleep less than the recommended seven to nine hours a night. When we don’t get enough shut-eye we can get irritable, stressed and more prone to getting sick. What’s more, it’s estimated that a lack of sleep costs Canadian businesses about $21 billion a year in lost productivity.

A restful sleep each night can help you feel healthier, happier and more productive. Here are some tips to get snoozing. 

Schedule it 

A good night’s sleep should be high on your priority list, so if it helps, why not include it in your daily schedule? Block off seven to nine hours during the same time slot each night – even on weekends. Keeping your biological clock on a regular schedule can help ensure the sleep you get is restful.  

Create a pre-bed ritual 

If you have trouble winding down after a hectic day, try some calming pre-bedtime activities such as a bath, reading, meditation or writing in a journal. The goal is to train your mind and body that it’s time to settle down for the night. 

Lights out 

Darkness triggers production of melatonin, the sleep-inducing hormone, and too much ambient light – including the blue light from a smartphone or tablet – can suppress it. The darker your bedroom, the more likely you are to sleep well. Consider installing blackout curtains to block streetlights and removing electronics with light up displays. If you like to read e-books before nodding off, try using a reader that isn’t backlit, or a screen cover that minimizes blue light from the device.  

Take the pressure off 

Poor sleep is our number-one response to stress. And it’s a double-edged sword — not getting enough shut-eye increases stress. So how do you break the cycle? Find ways to recharge throughout the day. Take ten minutes to go for a walk, practise mindfulness exercises, try yoga or download a deep-breathing app. 

Stay cool 

Our body temperature naturally drops as we’re falling asleep, so a cool room can help that process along. An environment that’s too warm may inhibit drifting off. Ideal bedroom temperatures range from 18 to 22°C (65 to 72°F) – experiment to see what works best for you. 

Get moving 

People who exercise regularly tend to sleep better. Working out three or four times a week can make a real difference over time. But be careful not to hit the gym too close to bedtime – the adrenalin from your workout could end up keeping you awake. 

Eat to sleep 

Did you know that certain foods can help you nod off at night? Your body needs vitamin B6 to make melatonin, so eating B6-rich foods like fish, bananas, chickpeas, nuts and lentils can help. Other foods such as walnuts, some dairy products and turkey contain tryptophan, a sleep enhancing amino acid that helps your body make serotonin and melatonin.

Avoid alcohol 

It’s no surprise that cutting back on caffeine can reduce wakefulness. But did you know that alcohol inhibits sleep, too? Yes, that glass of wine may help you drift off, but as its effects wear off, you’re more likely to wake up You may want to avoid overhydrating before bed, too – it will mean fewer trips to the bathroom.

If you frequently have trouble falling asleep, you may want to talk to your doctor to rule out sleep apnea or any other underlying causes. It’s also a good idea to get the go-ahead from your doctor to ensure these strategies are right for you. 

https://mysolutionsonline.ca/fall-2019/golden-slumber

Bonnie

MARKET VOLATILITY

It’s hard not to panic when the stock market is moving like a roller coaster!

However, pulling your money out may actually mean missing growth opportunities, which could also mean missing out on your investment objectives. Historically when things appear to be at their worst, it is typically the best time to invest because these downturns have been followed by major market upturns.

When your instinct is to move everything to cash here are some things to consider:

Have my goals changed?

If nothing material has changed in your life and you’re not going to use the funds from your investment for a few years, then as the graph below shows, you are better to ride out the volatility then move to cash and try to time your way back into the market. Most people’s gut prevents them from buying in at the right time.

Is my portfolio diversified?

You should know what you are holding in your portfolio so you can see if your mix of cash, bond and stock is still right for your time horizon, as well as your tolerance for risk! It’s a good idea to review this at least once every year.

Do I know the quality of the stock in my portfolio?

The quality stock you hold in your portfolio is important. In times of uncertainty even blue-chip stocks get caught up in the hysteria. However, if you remember that the stock you are holding is a reflection of actual companies with employees that go to work each day, it may help to ease your nerves. If these companies that you are holding are high quality and will not likely go bankrupt then you can rest assured that the stock price will go back up once the market uncertainty is over.

Should I flip my thinking?

Often when markets are in a downward spiral our gut reaction can be to protect and want to sell because things feel uncomfortable. Think about flipping your thinking. Is this actually a good time to buy while the market is “on sale”? Is the investment you were willing to buy a few months ago down in price and is it a better value now then it was then? It may be a great time to get a bargain.

Am I losing sleep at night?

This is gut check time. If you are actually a nervous wreck and worrying is consuming all of your time, you may need to consider if the stress is worth it. If this is you, take the opportunity to talk to your advisor to see what makes sense for your stress level and for the good of your health.

-Jodi

Source: Morningstar Direct as at September 30, 2018. For illustration purposes only. Performance histories are not indicative of future performance. The index is unmanaged and cannot be purchased directly by investors. Periods of market crises highlighted on the chart above are not representative of Morningstar Direct.

Need some quotes to keep you grounded?

“Investing should be more like watching paint dry or watching grass grow. If you want excitement, take $800 and go to Las Vegas.”

– Paul Samuelson, economist, professor and bestselling author

“An investment portfolio is like a bar of soap: the more you touch it, the smaller it gets.”

– Investment adage

“In the old legend the wise men finally boiled down the history of mortal affairs into the single phrase – This too will pass.”

– Benjamin Graham, investor, economist and professor

Creating a Bucket list for the year - Dream Big- You're Worth it!

I am generally a list person. However, studies have shown that when you create a vision board you can then visualize the goals and dreams you have. This helps you focus on them. Each day you can see the images of what your working towards, along with the words that will help motivate you towards them.

Here are some quotes to inspire you to Dream Big and set Goals:

“ It is said that if you aim at nothing you will hit it every time”- Zig Ziglar

“ Anything you can imagine you can create”- Oprah

  What is a vision board?

It is a collage of images and/or phrases that mean something to you. The images on your board can be photos of what you want, where you want to be, who you want to be with. Anything that will help to motivate you. For example, if you want to live in Hawaii, find photos of Hawaii, the beaches, the sunsets, palm trees and scenery. If you want to be a doctor, find photos of a doctor. Also add in a few motivational quotes. Do whatever works for you, its your masterpiece!

Your vision board can be images cut out from magazines on a piece of poster board or a digital graphic you keep on your phone. Place your vision board somewhere you will see it everyday. Your closet, the bathroom mirror, sometimes it’s a good idea to take a picture of your finished board, and then you can look at it anywhere you are😊

Have Fun Doing it!!!! If you have kids of any age encourage them to do this with you. It is something to help them dream big and teaches them to set goals.

Here are a few fun ways to get started, of course there are tons of ideas on Pinterest.

To help you get started here are a few Templates.

 For an Easy One-page Vision Board Template for Adults or Kids Click HERE

Another Free Vision Board Template

Once you start with these, you can add pictures, words etc to make your vision board your own.

Remember Have Fun and Dream Big!

-Michelle

Travelling out of Country this Year: Here are the changes to OHIP that you need to be aware of:

Starting January 2020 the Ontario government’s OHIP coverage for some types of out of country medical costs has changed or been eliminated.  While the previous emergency coverage was minimal -  a maximum of $400 per day, this coverage has now been eliminated.  It will now be the travellers sole responsibility to cover any medical costs associated with out of country treatments while travelling.  Keep in mind the past coverage of $400/day would not typically have covered the cost of a trip to the emergency room in the US which averaged at a cost of over 2,000/ visit.

If you will be travelling it is important to research and get private coverage NOW more than ever.

First you should explore any existing coverage that you may already have.  This coverage could be through an employer sponsored extended health care plan, a program offered through your credit card or any private coverage that you may already have or that is available to purchase.

All programs differ in coverage and in cost so it is important to read the fine print to see which one best applies to you and your family.  Don’t forget that some policies will not cover you for what they may determine as “risky behaviors”, such as bungee jumping or scuba diving.

It is also very important to be totally honest when applying for private coverage.  Depending on your age you may be asked health questions which will help determine the cost of your coverage.  Obviously the better health you are in the lower the cost will be.   Please note that in case of a claim, the insuring company WILL check back on your medical records to make sure you did not have a pre-existing condition that was related to your emergency while travelling and they WILL deny your coverage.

Most companies will also state that you need to call their 1-800 number BEFORE you seek any treatment or they may not cover your costs.

To make it easy for our clients to obtain a quote for travel insurance we offer a link on our website to the Manulife travel insurance HERE. 

We encourage you to shop around as this coverage may not be the best plan available for you and your family.  It’s important to read the fine print.  We encourage you to look at all of your options!

Below we have included links to a summary of the changes published by the Globe and Mail and also a link to the OHIP website for further research.

Click Here to see in the link from the Globe and Mail

Click Here to see the link from Ontario Government OHIP

-Jodi

January 26th-National Spouses Day

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National Spouses Day is observed annually on January 26.

Dedicated to recognizing spouses everywhere, National Spouses Day reminds us to take time for our mate. From being thankful for fulfillment and security of a long-term relationship to the boost of morale and well-being provided by spouses, there are many reasons to celebrate.  This day is a time to show your spouse that you care and appreciate all of the things that he or she does for you and the home.

Life gets busy, and we can often take for granted how our spouse improves our life.  Pay a heartfelt thank you or compliment to the love of your life.  National Spouses Day is a non-gift giving day, so spend time together and reconnect. Don’t forget to say, “I love you.”

HOW TO OBSERVE

If it has been a while since you have expressed appreciation to the partner you walk beside, now is your chance. Again, this day is not about giving gifts but spending time together, enjoying each other and appreciating each other.  Use #NationalSpousesDay to post on social media.

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Bonnie

20 Year Trends Retrospective

Looking Back

Sometimes when the world feels like it's going a little crazy, it's good to look back and see how far we've come and what we have walked through.

This is a good example of how historic events have affected markets and how they march on despite it.

-Jodi

Tax Free Savings Accounts - 2020 Contribution Limit and more

What is the 2020 TFSA Contribution Limit?

The TFSA new contribution limit for 2020 is $6,000, this is the same amount set for 2019.

Do you want to start a TFSA?

If you don’t have a TFSA yet then total contribution room available in 2020 for someone who has never contributed and has been eligible for the TFSA since its introduction in 2009 is $69,500.

Have you taken withdrawals from your TFSA?

For those clients who have withdrawn from their TFSA and want to know what their limit is now. One thing to keep in mind is the crystallized gains and losses from the withdrawal(s) are factored in to their TFSA room.

Here’s the formula:

Unused TFSA contribution room to date + total withdrawal made in this year + next year’s TFSA dollar limit = TFSA contribution room at the beginning of next year

( Click here to see CRA rules on making or replacing withdrawals)

What is the age I can start a TFSA?

Anyone 18 or older who has a valid social insurance number is eligible to open a TFSA. Contribution room accumulates beginning in the year in which a person turns 18.

Breakdown of the TFSA Annual Dollar Limits by Year

For 2009, 2010, 2011 and 2012:         $5,000

For 2013 and 2014:                             $5,500

For 2015:                                             $10,000

For 2016, 2017, and 2018:                  $5,500

For 2019 and 2020:                             $6,000

Total: $69,500

For Information on

TAX FREE SAVINGS ACCOUNTS- ARE THEY TAXABLE UPON DEATH? WHO SHOULD I NAME AS A BENEFICIARY? Click here to review our recent Blog

-Michelle

Learn to save a life

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If you’re still cooking up your resolutions for the new year, we have a humble suggestion for you: add CPR training to your list. CPR helps keep blood and oxygen flowing and dramatically increases the chances of survival in those who suffer a cardiac arrest.  

      The Life You Save May Be That of a Loved One.  

Did you know that four out of five cardiac arrests occur at home? Not only that, but many victims of sudden cardiac arrest appear healthy and may not have any known heart diseases or risk factors. Performing CPR promptly may save the life of someone you love.  

      Prevent Brain Death  

Brain death occurs four to six minutes after the heart stops breathing. CPR effectively keeps blood flowing and provides oxygen to the brain and other vital organs, giving the victim a better chance for full recovery. Everyday Health reports that If CPR is given within the first two minutes of cardiac arrest, the chances of survival double.  

      CPR Makes You Smarter  

Let’s face it, by the time you complete CPR training, you’ll know something that you didn’t know before you started!  

      You’ll Feel Confident in the Event of A Cardiac Emergency 

By nature, CPR classes are hands-on and interactive. While there may be some online training involved, course participants will learn how to properly execute chest compressions in a fun and supportive environment.  

      You’ll Test Your Musical Knowledge  

The tempo at which you should give chest compressions lines up nicely with popular musical gems such as the Bee Gees’ “Stayin’ Alive,” “Walk Like an Egyptian” by the Bangles, and “Save a Horse (Ride a Cowboy)” by country duo Big and Rich.  

      Join the 3 Percent  

  “Although evidence indicates that bystander CPR and AED use can significantly improve survival and outcomes from cardiac arrest, each year less than 3% of the.population receives CPR training, leaving many bystanders unprepared to respond to cardiac arrest.” Become a part of the solution and sign up for a CPR training course today.

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Bonnie