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You and me, We're in this together now - Trent Reznor                               View this email in your browser

We're In This Together!

You should have received an email from me last week with links to a few articles and standard information surrounding COVID-19 and how the world markets are reacting. Now I wanted you to hear directly from me, in my own words.

I don’t need to bore you with COVID-19 stats and figures, or images of empty grocery store shelves, or how to stay away from crowded places. That you hear and read enough of.

I’m also not going to tell you what is going on in the markets because I have no idea. Anyone who says they do is lying to you. This is an unprecedented time. This has never happened before. The world has pretty much closed its doors.

What I AM going to tell you is that we are in this together.

My personal portfolio is 100% invested and I will not be making any changes. I feel that, at this point, it’s too late to soften any blow that is to come. Just like in 2008 (if you remember), those who stayed invested felt temporary pain (a loss of 30%+) and then rode the market up and up for the next 10 years.  I’d like to think that capitalism will stay strong on the other side of this and we’ll see a similar recovery.

When? No one knows. All we do know is it WILL recover.

To everyone that is taking income from a RRIF or LIF, your portfolio is likely designed with three funds, each performing a different task; One long-term Global fund, one medium-term Balanced fund, and a cash account. As part of our planning, your payments for 6-12 months are stored in this cash account so that no matter what happens, you will always get your payments. Rest assured, you do NOT need to change your budget any time soon.

One more thing -  we are all invested in mutual funds. One thing to keep in mind during all of this is mutual funds, by their design, will NEVER go to $0. Individual stocks can and have before (Nortel…..) but if a stock is performing badly, a mutual fund can sell it and move on to something else.

If you do need money for some reason, I would suggest we look at any non-registered accounts to take it from. If you are in a loss situation, you will have a capital loss. This loss can be carried forward forever and will offset any future capital gains. Money for you now, tax savings for you later #taxmath

I am still here. Our office is closed but, I have a home office set up which means I can work from here as efficiently as there. My personal cell number is 519-709-8062. Call me if you need information on your accounts or need some funds for any reason.

Stay safe. Stay healthy. Take the necessary precautions. Look out for your family and neighbours. If you are going to the store, ask around if anyone needs anything. Only trust reputable news sources for your information. Call your loved ones, it’s a very lonely time, unless you have a gaggle of children home with you for the next few weeks.

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