From the Editor: Stick to the Plan

Q1 | March 2022

Laptop, notebook, Tablet and coffee on work desk

Topic: Human Interest

Brad Weber  CPA, CA, CFP

March 31, 2022

Image used with permission: iStock/PRImageFactory


Print & Share

Print

From the Editor: Stick to the Plan

Q1 | March 2022

We are only a few months into the year, and it feels like a lot has already happened. The pandemic has passed its second anniversary, although it’s not the type of anniversary where celebrations spring to mind.

But across the country, various vaccine and mask mandates are starting to be repealed, and the possibility of life after the pandemic seems more tangible. Even though we see countries worldwide opening back up and reducing travel restrictions, many of us are reluctant to get our hopes up after two years of successive waves of COVID.

Unfortunately, the world wasn’t going to wait for one crisis to end before the next one began. And the Russian invasion of Ukraine is now the focus of much of the news headlines. Predicting the future usually doesn’t come with a high success rate, so we will have to wait and see how these events will ultimately unfold. But the pandemic brought with it supply chain issues and higher inflation, and the war in Europe is only expected to add to those problems.

When the events of the world have you nervous, your instinctive reaction is to act. But resisting that urge and holding steady might be the only action you need to take. Jim Houston’s most recent blog, “A Balanced Approach”, cites this as probably the best solution when it comes to your investments, particularly if you are a balanced investor. It can be harder to do nothing than it sounds. But if you’ve taken time to build a plan for yourself, you’ve already put in the work to prepare for tumultuous times.

Regular readers of Nexus Notes know the importance we place on the planning process. No planner can forecast what the future holds, but a proper plan is made with the knowledge that history has shown that times of distress in geopolitics and the economy are normal. For better or worse, an unavoidable aspect of greater longevity is preparing financially and mentally for more of these periods of upset. Rather than be daunted by living to 100, it’s better to develop an attitude that makes the most of the time ahead. We think that comes easier for those guided by a proper plan. And coming soon, our Living to 100 series will explore more about how longevity can affect your investments, wealth plan, and quality of life.

Fergus Gould’s blog, “The Case for Openness,” explores another aspect of how people react in challenging times, particularly over the long term. While an open society leans towards more prosperity, our inclinations when fear or uncertainty arises can lead us in the opposite direction.

At the start of the pandemic, there was a lot of talk about the new normal, but it will most likely be the case of “meet the new normal, same as the old normal”. Meaning that the world will keep on changing, and that change can feel scary because you can’t control it. But what you can control is sticking to your plan and keeping your eye fixed on your goals.

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.

Welcome Aboard: Investing in Our Team

Topic:
Inside Nexus
Excerpt:
Nexus recently welcomed Harsh Narsinghani, Vice President & Portfolio Manager, as the newest member of the investment team. His arrival is the latest

More Like This...

See another Investments blog post 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

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.

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.

On a Side Note…

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

Here we Grow Again!

Topic:
Inside Nexus
Excerpt:
Recently, the Nexus team welcomed our seventh new face to join us since the start of the pandemic in 2020. As growth is an integral part of our

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.

A Table for None, Please; Working From Home on the Rise

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.

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

On a Side Note…

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

From The Editor: What’s My Age Again?

Topic:
Wealth Planning, Living to 100
Excerpt:
How old are you? It’s a simple question, one we readily know the answer to, although some of us might not want to talk about it. And why do we know