Monthly Minute
 July / August 2020 - news & updates
A Summer to Remember!

I bet many of you are just as excited about summer as I am. This year has been anything but normal, and while it appears we’ve beaten the “COVID” story to death, we’ve learned a lot and maybe a review of some of those lessons is worthwhile.

  • Summer in Canada is short. Get out and enjoy what we have, and celebrate the little things with those closest to you. I know our circles of family and friends are opening up little by little, so appreciate them and the amazing weather while we can.
  • Stock markets can be fickle and analysts can be wrong! There have been many forecasts predicted and experts stating contradictory outcomes, but often markets recover faster than expected. Could the market drop again? Yes, but reacting in the short term can cause more harm. Having cash for short term needs is the top of the priority chart.
  • The stimulus will cause short term gain, and we can only hope that the long term costs are manageable. Something was necessary for such a unique crisis. However, what and how much was necessary will be a debate for decades to come. The future will be a challenge with the higher debt, and Canada’s lowered credit rating. I do not know the next steps or how taxes will be impacted, but it’s not likely they will go down.
  • Support what you believe in. It sounds trite, but I believe it’s critical right now. This impact is taking its toll on small businesses in your neighbourhood. Order take out directly from your favourite restaurant. Order Canadian and try to support the smaller shops to support them while they weather this storm. We have a positive impact when we stay local. I recently tried Tru Earth laundry strips, and they are great. I also tried Good Food meal delivery, and each one has been very tasty … even with my questionable cooking. Both companies are 100% Canadian. I do expect we will see a MORE nationalistic approach with additional tariffs and new trans-border agreements.

Even when things seem negative, there is always something to believe in, some stock that can perform well, something that gives us hope. I hope you keep on finding those positive vibes.
‌
Janine Purves CFP®, CPCA, CCS
Senior Financial Advisor

Assante Capital Management Ltd.
9130 Leslie Street, Suite 302
Richmond Hill, ON L4B 0B9

Email: jpurves@assante.com
Tel: (905) 707-5220 ext. 22
Fax: (905) 707-1035
Toll Free: (800) 981-5481
Upcoming Dates

August 3rd - Civic Holiday

August 5th - Wealth Matters Market Update

September 7th - Labour Day

September 15th - 3rd Tax Installment

September 30th - Tax Payment Deadline
*Updated from Sept 1st
* All installments due to date
Welcome to the Family!
My assistant and his wife, Andrek and Nav, have recently welcomed the first addition to their family, a beautiful baby girl.

Congratulations on your new baby! This is such a wonderful time for your family and we hope that it is filled with lots of fun, love, and cuddles.
Market Updates
Listen to previous Wealth Matters market updates with CI Investments' top portfolio managers.

Canada's deficit is expected to hit $343 billion. Read this article for more on our fiscal snapshot.

Having a well-diversified portfolio is the best way to preserve and grow wealth during troubling times. Read the most recent edition of Assante's The Big Picture here.

Is any currency a replacement for USD? Read this article to explore the currency debate.
Connect to the Community

During stressful times, we need to avoid wearing ourselves out. Read this article for tips to avoid burnout.

We Care. Knowing that money is a big stressor is why we do what we can to help with the many steps to get you to a successful retirement. We have been working differently lately, but are still trying to ensure we respond on a timely basis, and why we have increased our communication in the past few months. If you have a suggestion of how we can improve, or something that would help you, please let us know. Watch for our upcoming survey.
Working From Home? Mind the Tax Rules
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Due to health concerns, many have gotten creative and dining rooms double as a classroom and the guest room is now a home office. Some of these home-office set-up costs may be tax-deductible to the employee. Check out this article to ensure you are prepared if you intend to deduct them from your income taxes.
Financial Tips and Tricks
How should entrepreneurs and business owners navigate the risks of the unknown? Read more here.

Recent graduates are entering a tough job market amid record debt levels. Read this article to help your loved ones get on the right track financially, even in a pandemic.

Your credit card should not be your cash flow plan. Read this article for alternate sources of emergency cash.
2020 Financial Stress Index
Canadians have ranked money as their greatest cause of stress in life over their personal health, work and relationships. Read more here about the Financial Stress Index by FP Canada™.
Insurance
After many health care providers were forced to close their doors, insurance companies reacted by reducing their rates and offering payment deferrals. Read this article for more information. Have you requested your deduction? Call your insurance provider to find out if you qualify.
Go Paperless!
We all know the importance of social distancing and we all have a part to play.

Email is a crucial means of communication between clients and advisors. We are always looking for a convenient and secure solution for sharing our confidential communications and documents. Assante InvestorOnline is designed to provide you with a secure and private communication gateway, and around-the-clock access to important information about your account.

Secure communication : You can communicate directly with your advisor knowing that your information will be kept private and safe.

Easy to use : Easily navigate through your account balances, transaction history and reporting details at your convenience.

Go paperless : Receive important documents and statements digitally, to help preserve the environment and protect both our postal workers and you.

Register for Assante InvestorOnline here .
“Impossible is just a big word thrown around by small men and women who find it easier to live
in the world they've been given than to explore the power they have to change it.”
- Muhammad Ali 
Assante Capital Management Ltd is a member of the Canadian Investor Protection Fund and Investment Industry Regulatory Organization of Canada.  
 
This material is provided for general information and is subject to change without notice. Every effort has been made to compile this material from reliable sources however no warranty can be made as to its accuracy or completeness. Before acting on any of the above, please make sure to see me for individual financial advice based on your personal circumstances. The opinions expressed are those of the author and not necessarily those of Assante Capital Management Ltd.
Insurance products and services are provided through Assante Estate and Insurance Services Inc. Assante Capital Management Ltd. is a member of the Canadian Investor Protection Fund and the Investment Industry Regulatory Organization of Canada.
Assante is an indirect, wholly-owned subsidiary of CI Financial Corp. ("CI"). The principal business of CI is the management, marketing, distribution and administration of mutual funds, segregated funds and other fee-earning investment products for Canadian investors through its wholly-owned subsidiary CI Investments Inc. If you invest in CI products, CI will, through its ownership of subsidiaries, earn ongoing asset management fees in accordance with applicable prospectus or other offering documents.
Commissions, trailing commissions, management fees and expenses, may all be associated with mutual fund investments. Mutual funds are not guaranteed, their values change frequently and past performance may not be repeated. Please read the prospectus and consult your Assante Advisor before investing.