From The Editor: Summer Vacation

Q2 | June 2021

Laptop, notebook, Tablet and coffee on work desk

Topic: Inside Nexus

Brad Weber  CPA, CA, CFP, CIM

June 24, 2021

Image used with permission: iStock/PRImageFactory


Print & Share

Print

From The Editor: Summer Vacation

Q2 | June 2021

Summertime and vacations go hand in hand. The season is linked with feelings of relaxation and recreation. As kids, we saw the arrival of summer as freedom from school and regular routines. As adults, it’s a time for patios, barbecues, and being outdoors, as if we are recharging our batteries for the next winter that’s coming. It’s also the high season for traveling. We’ve even come up with the endless summer, a dreamy idea that, with enough time and money, you could migrate around the world between northern and southern hemispheres following summer seemingly forever.

Last year lacked some of these qualities, as our ability to travel was restricted due to the pandemic. As for this summer? At the time of writing we are just starting to see activities and businesses opening back up. There are even discussions on how and when borders will open again to accommodate travel. While we welcome the good news, this summer will still be far from normal.

We recently hosted an event as part of our Women & Wealth series. The content centered around navigating life’s transitions, and we welcomed Dr. Amy D’Aprix to share her insights on change and how to manage through transitions. Of course, the topic of retirement was on the list of things covered. Dr. Amy pointed out that many people view retirement as one long vacation, a bit like an endless summer. But in reality, most people will experience retirement as different stages of life.

Typically, the first stage will involve many vacation-like activities. But retirement will start to take on a more day-to-day quality at some point. This is why Dr. Amy emphasizes the importance of maintaining a sense of purpose in your life. Here is where goals and planning can play a role, and this should go beyond just financial aspects. Of course, with the prospect of longer lifespans and the reality that you could spend a third of your life in retirement, being financially prepared is necessary. In fact, in this issue Dianne White provides a framework for withdrawing your money in retirement. But thinking beyond the financial elements is also important. And while planning certainly includes cash flow, tax, and estate considerations, fundamentally, it involves thinking about the future. And that includes imagining what your life might look like beyond the vacation stage. This isn’t about trying to create a blueprint for your future. Instead, it’s about considering where you might find purpose for yourself as you move through these new stages. You can read an overview of Dr. Amy’s discussion under the Inside Nexus section.

Also, in this issue, Devin Crago describes the various approaches investors take when evaluating Environmental, Social and Corporate Governance (ESG) considerations and some of the pros and cons of these different methods. He also provides insights into Nexus’s approach to ESG investing.

High quality stocks and a long time horizon are two key factors that contribute to Nexus’s success. Jim Houston introduces us to The Money Tree, the lived-in experience of a 20-year Nexus client, and how these success factors contributed to the growth of their wealth.

Whether it’s investing or otherwise, we don’t know what the short term will bring, including how much we’ll be able to do this summer. But I hope you enjoy the warm weather that comes with the season and you’re able to capture some of those feelings of relaxation and recreation.

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