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Just a quick update as we head into December, we hope that this finds you and your family well. This has been a difficult time for many, as we all adjust to the COVID protocols. Please know that we are available at any time, just call 403-341-5899.
As you are aware the AHS and the Province of Alberta have new protocols for the current pandemic. Our offices are closed to the public but we are still receiving mail and courier deliveries. If you need to drop something off, please call ahead and schedule a drop off appointment. As per the City of Red Deer by-laws masks are required in all indoor public places so if you are coming to a drop off appointment, please ensure you are wearing a mask in the building. More information can be found here: LifeLegacywealth.com - COVID-19
Year end thoughts:
The US election has come and almost is gone! By all indications the transition to the new president has started. The markets have responded positively to a new president and some certainty going forward. Market reactions to positive vaccine results and a “market friendly” presidential cabinet have been largely positive. The managers at Fiduciary Trust are monitoring the current situation and looking towards opportunities and risks in the markets as we go forward. If you would like to have a discussion about your own portfolio, please let us know and we can arrange a conversation for you. Investment Impact of the US Election: (fiduciarytrust.ca)
As the Calendar approaches December there are a few year-end processing items that we will be looking into for you:
Opportunities for capital gain or loss realizations
Tax Free Savings Account contributions
RRIF withdrawals and income tax planning
Registered Education Savings Plan contributions
RRSP contributions
We will be contacting you if there are any issues we need to address prior to year-end.
Financial Stress:
As we are now heading into 10 months of the COVID-19 pandemic we realize and have heard from a number of clients, that the financial stress is mounting. Our mandate is to assist our clients in making informed financial decisions that are in their best interest. It is very difficult to make decisions in times of stress. The additional financial stress of COVID protocols and a weak local economy has had a major impact on many people. Please know that we are available to you but also the people important to you.
If you have colleagues, family members or friends that are in need of help or simply looking for someone to talk to about their financial realities, please let them know we are available at no cost or obligation. In many cases having a fresh set of eyes to look at a situation, or a trusting ear to listen is enough to alleviate some of the stress. We believe that financial wellbeing is as important as your health and mental wellbeing. We have access to resources that may be much needed to someone you care about. Please reach out!
covid_tip_sheet_financial_stress_eng.pdf (mentalhealthcommission.ca)
Charitable Gifting and Local Support:
LifeLegacy is proud to once again be partnering in fundraising for Central Alberta Women’s Emergency Shelter About | CAWES. For the past couple of years we have committed to a matching donation from clients who also wanted to donate to this cause. We will be sending out some information in the coming days on how you can participate. We all know that this has been a difficult time for many of us, and CAWES is also experiencing an increasing need for there services to women and families in need. We are hopeful that our donations can help them and the people that they serve.
Today is Black Friday and many retailers are bombarding us all with sales. Please keep in mind through the holiday season that the local businesses in our communities are owned by and employ our friends, family and neighbours. Try if you can to support local this year, it can mean a lot to your community.
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