Good reads in our May 2020 E*News

Spectrumly Speaking

May 2020

We hope you and your family are continuing to manage effectively through these uncertain times and we want to applaud you all for your efforts and contributions to flattening the curve and assisting those in need.

Although we are not able to personally meet, it doesn't take away the importance and continued need for financial planning and our ability to guide you through this challenging time, while still planning for the future. Please reach out to us. We can set up a phone or video meeting and help you and your family navigate through today, tomorrow and all of your days ahead.

We look forward to when we can physically see you again!

Best wishes,

Karen, Richard, Janet and Sheila

If you are eligible for CERB,

it is time to apply again.

If you are eligible, you can receive $2,000 for a 4-week period (the same as $500 a week).

If your situation continues past 4 weeks, you will need to apply for the CERB again. You may re-apply for up to a total of 16 weeks.

Here is a helpful CRA link to answer all of your questions

Will I have to the pay back the CERB benefit?

Just because you received the benefit, doesn't mean you actually qualify for it. You may need to pay it back depending on your situation.

Click here for additional info around the CERB and the CESB:

Cleaning & Hygiene Tips

From doing laundry to preparing everyday meals, here are some measures to help keep the COVID-19 virus out of your home.

Thank you Unicef for this great write-up

Should I defer my mortgage payments?

A Mortgage Deferral Program is the first line of

defense for thousands of homeowners that need immediate relief. However, it may not be the best option for you since it increases your mortgage balance due to interest.

Consider some different options:

* using a Line of Credit to borrow what you need,

* make interest-only payments until the financial stress begins to ease,

* moving from accelerated to monthly payments,

* or extending your amortization.