From the Editor: Happy New *Planning* Year

Q3 | October 2019

Laptop, notebook, Tablet and coffee on work desk

Topic: Wealth Planning

Dianne C. White CPA, CA, CFP, TEP

October 1, 2019

Image used with permission: iStock/PRImageFactory


Print & Share

Print

From the Editor: Happy New *Planning* Year

Q3 | October 2019

As the weather cools and the leaves begin to change colour, it seems to me that fall is the more natural start of a new year compared to the start of the calendar year. Perhaps it’s the reflex of the back-to-school routine that makes me feel this way. But, in the fall, I am ready to embrace a new season and make some changes. It is a time to identify potential resolutions – those areas of opportunity for growth and development. So, why not start with an assessment of your financial life? Ask yourself, is everything in good order?

The first step is to make sure you have a financial plan and you are sticking to it. A good, comprehensive financial plan includes an assessment of where you are and where you are heading. It also addresses what your objectives are – is it “freedom 55” or owning that country estate? The plan captures all the financial details required to assess if you will be able to meet your objectives.

The next step is to consider whether you have all your “ducks in a row” when it comes to estate planning. We recently hosted the fourth instalment in our Women and Wealth presentation series where we revisited the topic of estate planning. Laura Ross, an estate consultant who has a wealth of hands-on experience dealing with estates, agreed to join us to discuss what clients can do to get their “ducks in a row”. Laura’s presentation focused on some of the softer issues that come along with estate planning. When most people think of estate planning, they focus on the documents required: wills, powers of attorney and various trusts that represent the legal framework of an estate plan. It is easy to get bogged down in the legalese of these documents and forget about how important it is to communicate your wishes. To quote Laura: “Death is the elephant in the room. It happens to all of us, but no one wants to talk about it. Talking about your wishes with respect to your health, finances and your estate is the best gift you can give your family to ensure they maintain a solid relationship after you pass.” Key take-aways from our events with her: make sure your will is current, make sure your executors and power of attorneys understand your wishes in plain language (not just have a copy of the legal document), and organize your affairs so your family knows where everything is. We plan to ask Laura back in early 2020. These new sessions will extend beyond our Women and Wealth series and all clients will be invited to attend. More information will be available in the coming months, so stay tuned!

In this issue of Nexus Notes, we continue to look at planning and returns, specifically expected investment returns. This article is an extension of one published last quarter on the return assumptions Nexus uses and how they translate into the asset projections in each plan. The article is penned by the newest member of our Nexus team, Brad Weber, who recently joined us from BMO Private Wealth. You can learn more about Brad in our Inside Nexus feature.

Also in this issue is an article that, at first glance, appears to be about literary classics, but is in fact about interest rates. Yes, the abnormally low, historically unprecedented, and potentially negative interest rates have become a significant global development. Investors are indeed living with strange circumstances just like Gulliver and Alice. You can read about how these otherworldly rates are causing real world problems and about the implications for borrowers and savers. We hope you enjoy this edition of Nexus Notes and happy new *planning* year to you!

More Like This...

See another CRM2 blog post that may be of interest to you.

CRM2: The Nexus Approach to our CRM2 Reports

Topic:
CRM2
Excerpt:
With changing securities regulations coming into effect, investment firms are now required to provide individual investors with specific additional in

More Like This...

See another Foundations & Endowments blog post that may be of interest to you.

Charitable Giving Made Easier

Topic:
Foundations & Endowments
Excerpt:
Giving to charities and supporting our community are important to us at Nexus. We donate a portion of our management fees back to the charities and

More Like This...

See another Human Interest blog post that may be of interest to you.

The Case for Openness – An Open and Shut Case?

Topic:
Human Interest
Excerpt:
From time immemorial, mankind has been open. Open to new ideas, open to trade, and open to migration – the three critical ingredients for progress.

More Like This...

See another Inside Nexus blog post that may be of interest to you.

Embracing the Golden Years: A Journey of Reflection and Wisdom

Topic:
Human Interest, Inside Nexus
Excerpt:
It was an otherwise slow mid-afternoon trading session on the “old” floor of the Toronto Stock Exchange at 234 Bay St. The dog days of summer had

More Like This...

See another Investments blog post that may be of interest to you.

From Vineyards to Portfolios: Cultivating Long-Term Wealth

Topic:
Investments
Excerpt:
My wife and I have been stymied so far this summer in getting to the Niagara region for our annual weekend of cycling through the vineyards and

More Like This...

See another Pearls of Wisdom blog post that may be of interest to you.

“Work, Work, Work, Work, Work, Work”

Topic:
Pearls of Wisdom
Excerpt:
This has been a busy year. I’ve had lots happening on the home front (a wedding!) and lots going on at the office (too long to list!) Managing work

More Like This...

See another Tax Planning blog post that may be of interest to you.

Saving in my Professional Corporation – It’s a Great Idea!

Topic:
Tax Planning
Excerpt:
The ability for professionals in Canada to incorporate their practice has existed for some time. Doctors, dentists, lawyers, accountants, and other

More Like This...

See another Wealth Planning blog post that may be of interest to you.

Dentists Get Their Financial Check-Up: Nexus attends the 2022 Ontario Dental Conference

Topic:
Wealth Planning
Excerpt:
In early May, we had the opportunity to attend the Ontario Dental Association’s (ODA) Annual Spring Meeting (ASM) in Toronto. Now in its 157th year,

On a Side Note…

See another CRM2 Nexus Notes Quarterly article that may be of interest to you.

No posts found.

On a Side Note…

See another Foundations & Endowments Nexus Notes Quarterly article that may be of interest to you.

Charitable Giving Made Easier

Topic:
Foundations & Endowments
Excerpt:
Giving to charities and supporting our community are important to us at Nexus. We donate a portion of our management fees back to the charities and

On a Side Note…

See another Human Interest Nexus Notes Quarterly article that may be of interest to you.

Worth 1,000 Words

Topic:
Human Interest
Excerpt:
A little humour makes the world a better place.

On a Side Note…

See another Inside Nexus Nexus Notes Quarterly article that may be of interest to you.

Where Have All the Boutiques Gone?

Topic:
Inside Nexus
Excerpt:
Many small, once independently managed, firms have fallen into the clutches of larger organizations such as banks, institutional money managers and

On a Side Note…

See another Investments Nexus Notes Quarterly article that may be of interest to you.

Don’t Worry, Be Happy

Topic:
Investments
Excerpt:
A recent article by David Brooks in The Atlantic magazine argues that, despite the heavy shroud of pessimism that envelopes most of our current

On a Side Note…

See another Pearls of Wisdom Nexus Notes Quarterly article that may be of interest to you.

Pearls of Wisdom

Topic:
Pearls of Wisdom
Excerpt:
Reading is one of the principal occupations in our profession. As we digest a wide range of material, interesting ideas and surprising facts – some

On a Side Note…

See another Tax Planning Nexus Notes Quarterly article that may be of interest to you.

A Nexus Feature on: First Home Savings Accounts (FHSA)

Topic:
Tax Planning
Excerpt:
The FHSA is a registered plan to help Canadians save for their first home and could play a role in either your or your adult child’s overall wealth

On a Side Note…

See another Wealth Planning Nexus Notes Quarterly article that may be of interest to you.

From The Editor: Planning for Long-Term Care

Topic:
Wealth Planning, Living to 100
Excerpt:
As part of our Living to 100 series, Nexus hosted a client event in June featuring guest speaker Karen Henderson, an expert in long-term care planning