Welcome to LifeLegacy’s March Update:

It’s another boring day in the news cycle.  I have been having a hard time finding a topic….Oh yeah, I almost forgot about our “friend” to the south.

It has been only a few weeks, and I do not recall a time when a US President has dominated the news more than what we have seen with President Trump this time around.  I won’t rehash the details of the “news”, it is hard to stay away from the constant reporting on TV, newspapers, online services and social media.  I think we are all aware that the current US administration is shaking things up in trade, politics, and international relations.  

You don’t have to look too far to get a commentary, some you may agree with some you don’t.  It is not our place to provide political commentary so we will keep this about your families and some potential impacts.

What should I do with my investments?

Firstly, with LifeLegacy and our investment partners, your investment portfolios have been structured to meet your specific goals, time frames and objectives.  Your portfolio has a few key characteristics:  

• they are broadly diversified between asset classes (cash, bonds and stocks),

• they are broadly diversified by geographic region, economic sector and industries,

• they are designed to generate income from multiple sources including domestic and foreign interest from government and high-quality corporate bond issuers, dividend paying stocks and infrastructure projects.  

• they are professionally and actively managed

• some accounts may provide discretionary authority so the managers can take tactical positions to provide security as well as take advantage of growth opportunities.

Secondly, the “news” of the day, or sometimes more accurately the “noise” of the day is very rarely a reason to change a portfolio that has been well structured and is designed to meet specific goals.   Reasons for changes to an investment policy may include:

• a change in the liquidity needs of the account

• a change in the investment time horizon - you may to increase drawings or have a lump sum that is need at a specific time

• a change in the tolerance or capacity for risk - perhaps a change to lifestyle expenses, incomes, or financial situation has allowed you to take on more risk, or has materially changed how much you are relying on the portfolio and requires a reduction in risk

• a change in your financial situation or income needs

Thirdly, your portfolios are designed for one or more of the following broad objectives:

• Preserving your legacy for your chosen beneficiaries.

• Growing your wealth for future lifestyle needs (travel, vacation, home purchase etc.).

• Providing you with the lifestyle you want to enjoy now.

It is very unlikely that a trade war in North America, an actual war in eastern Europe, or even an election looming in Canada will have a material impact on those 3 objectives.  

If you have any concerns about how your portfolio is being managed, please reach out to info@lifelegacywealth.com and we will arrange a conversation with our investment team for you.

Will the market affect my financial plan?

Every family has its own financial reality, goals, concerns and objectives.  A financial plan provides guidance and direction on moving you from your current financial reality to the lifestyle you want to live.

Market returns and investment performance can certainly have an impact on your ability to meet you goals and objectives.  But the market is not the only thing that impacts the success of a financial plan.

A lifestyle financial plan looks at your ability to fund your lifestyle now and into the future.  It weighs the impact of decisions today with their potential impact to the future and to your legacy.  

LifeLegacy works with you and your family to truly understand where you are today and the goals you have for your lifestyle and your legacy.  There are many opportunities to implement seemingly little changes that can have big impacts.  We often find these opportunities in:

• business structures (both farms and corporations)

• the ownership of assets

• debt structure and financing costs

• tax savings

• cash flow optimization (where to save, where to draw from, CPP/OAS etc.)

• participating in the appropriate savings plans

• beneficiary designations

• estate transition documents

• proper protection for the financial impact of illness, disability or untimely death

• family discussions on estate matters and farm or business transitions
  
  

These and other component of a financial plan may have a larger impact on success than the rate of return on investments.  As part of the LifeLegacy Wealthcare process, we regularly review where you are at today, what you have implemented and any changes that may be required based on new goals, or circumstance.  To arrange your next plan review please call Ed at 403-341-5899

Tax Season

With the tax filing season upon us, you will be gathering your Tslips, Receipts and Year-end Statements.  These are available online through your specific investment firm.  If you don’t have access or simply can’t get on the website, please let me or Rob know and we will get you the copies, or with your permission we can send directly to your accountant.

Request your tax slips

Request your tax slips to go to your accountant

If you have any questions or need assistance, please do not hesitate to contact our office. We are here to help you achieve your financial goals and provide peace of mind.

All the Best!!

Ed