The US has been Canada’s largest trading partner for decades, so our economy is closely tied to the fortunes of our southern neighbour. In addition, because the US economy is still currently the largest in the world, whenever an investor implements or revises a financial strategy, it is always important to consider how US Government policies affect the Canadian economy in positive and negative ways.
We are writing this article before the election is completed, so hopefully the correct party won (fill in the blank for the party you voted for), and Ontario is still open for business. In this same "vein" of newness, do you have plans for something new this summer?
At Carruthers, we often find that our "new" comes from reviewing our "old". Looking at things have always been, with an eye to how they could be, can often open up many possibilities. One of the things that we want to do more of is education. And that starts with you.
Recent studies have shown that as many as 60% of Canadians will not have saved enough money in order to adequately provide for their retirement.1 The problem for most people is not that they plan to fail, they simply failed to plan, adequately. And, while many may have been conscientiously saving towards retirement, somewhere along the line they lost sight of their target. Either the target never existed or it was never very clear in their sights. Without a target, they can't possibly know where or how high to aim.
You read that right, Carruthers Financial is excited about this year of the baby! We have officially welcomed the first of three babies expected this year. Draper Di Tolla was welcomed into the world this past month – a beautiful baby girl, and first child for Diego, as well as first grandchild for Keith (you heard that right – Keith has been officially retitled grandpa). Mom, baby and family are all doing well, and life is busy with love.
There are many different types of global economic risks that financial advisors take into account when preparing a financial action plan for their clients. This is where advice and judgment come into play when working with you as a client. One area that is gaining increasing prominence is the role of the United States and its dollar in international affairs.
We are being misled - seriously misled. No matter where you look, we are expected to believe that by buying lots of expensive, luxurious items, it signifies that we are wealthy. Nothing could be further from the truth. It's really just cash flow.
Television and movies portray people that seem to have an endless supply of money. Some shows, in fact, are nothing more than an endless commercial glorifying consumption. A crime scene cop looks at his watch, a $6,000 designer label piece, and we are expected to believe he can afford it on his salary?
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