iA Private Wealth-Bastion Wealth Advisors Group

02/14/2024

The Home Buyers' Plan or First Home Savings Account?

Why not both! If you have an existing RRSP and plan to make a withdrawal under the HBP, you can use that in combination with any savings inside your FHSA to make a qualifying home purchase.

02/07/2024

What are some of the similarities between investing in the stock market and going on a roller-coaster?

What are some strategies for managing the emotional stresses of negative returns?

How did the TSX market do in 2023?

Click on the link attached below to read the full post and get answers to these questions!

Emotional Roller-Coaster of Investing The thrill of going on a roller-coaster is really second to none in my opinion. Some people love that feelings and will pay money to experience it. Personally, I love roller-coasters and could go on all day talking about them, but when I’m investing, I don’t...

01/31/2024

If you were an investor in 2023, then you know that it was a year characterized by great uncertainty regarding economic growth, largely due to rapid increases in interest rates from the Bank of Canada. The above chart shows the monthly returns for the TSX index starting from January 1, 2023 and ending December 31, 2023. Each month is shown by either a blue bar, which indicates a positive return, or an orange bar, indicating a negative return. Despite speculations about a looming recession, growth continued throughout the year in Canada and after a significant market rally in November and December, the TSX index ended 2023 returning over 8% in total for the year.

This is great for investors who stayed continuously invested, and didn’t get scared when returns were negative. If an investor had sold their stocks in October, in fear of prices continuing to drop lower, then they would have missed the massive rally to end the year. That’s why it’s important to stick to your investing goals and not act spontaneously when you see losses. Handling your emotions can play a crucial role in achieving your goals, and sticking with your investing strategies when things get rocky.

Of course, this all starts by having a solid financial plan in place to keep your objectives aligned with your investing decisions. Having a trusted advisor can greatly increase your chances of success in this aspect. If you’re interested in learning more, please check out our website (link in bio) to get in contact with an advisor.

This information has been prepared by Mike Holyk who is a Senior Investment Advisor for iA Private Wealth Inc. Opinions expressed in this post are those of the Investment Advisor only and do not necessarily reflect those of iA Private Wealth Inc. iA Private Wealth Inc. is a member of the Canadian Investor Protection Fund and the Canadian Investment Regulatory Organization.

01/24/2024

Data released last week revealed that the Consumer Price Index (CPI) in Canada rose 3.9% on an annual average basis in 2023, which is a significant decrease from the 6.8% rise seen in 2022. Since January 2023, inflation has decelerated throughout the year, as evidenced when looking at the gradual slowdown in monthly CPI in the chart above. To end 2023, monthly CPI has trended below the annual average of 3.9%, but still well above the Bank of Canada’s target rate of 2%.

The deceleration in inflation seen over the past year, was largely affected by lower energy prices, led by gasoline, which fell 7.6% in 2023, compared to a 28.5% increase seen in 2022. Across Canada, food prices continued to increase, which is driving inflation higher, but remained relatively stable throughout 2023 rising 7.8% on an annual basis. Factors including poor weather in growing regions, tensions in Ukraine/Russia and higher input costs have contributed to elevated grocery prices.

The Consumer Price Index (CPI) measures price change by comparing the cost of a fixed basket of goods and services over time.

Source: Statistics Canada (January 2024). CPI: Annual Review 2023

This information has been prepared by Mike Holyk who is a Senior Investment Advisor for iA Private Wealth Inc. Opinions expressed in this post are those of the Investment Advisor only and do not necessarily reflect those of iA Private Wealth Inc. iA Private Wealth Inc. is a member of the Canadian Investor Protection Fund and the Investment Industry Regulatory Organization of Canada.

01/17/2024

US Inflation Data for 2023

Annual inflation in the US rose 3.4% for 2023, which comes in slightly higher than consensus expectations at 3.2% for the year. Core inflation measures remain in line with consensus expectations despite the unexpected rise. Energy prices rose for the first time in three months, while food prices continued to advance but at a slower pace. Based on this data, it’s further reason for the Fed to keep interest rates steady at their next meeting.

Source: NBF Weekly Economic Watch (January 12, 2024)

This information has been prepared by Mike Holyk who is a Senior Investment Advisor for iA Private Wealth Inc. Opinions expressed in this post are those of the Investment Advisor only and do not necessarily reflect those of iA Private Wealth Inc. iA Private Wealth Inc. is a member of the Canadian Investor Protection Fund and the Investment Industry Regulatory Organization of Canada.

01/10/2024

Happy New Year everyone! We hope you all had a very pleasant holiday season and made time to connect with friends and family. To bring in the New Year, we have a new Blog Post focusing on managing your money in retirement, prioritizing your financial goals, and maximizing the benefits of contributing to your registered accounts.

Read the full post by clicking on the link attached below:

The start of the New Year is a great time to reflect on 2023 and set goals for 2024. No better time than now to set yourself up for a successful 2024 than by setting some financial goals. January is a popular time for investors to review their savings strategies and ensure they are making the most o...

12/22/2023

Wishing you a very merry and happy holiday season from your iA Private Wealth Team! Please note we will be closed December 25th, 26th & January 1st, and we have reduced office hours on December 22nd, 27th, 28th & 29th, from 7am – 2pm. Our regular office hours will resume on January 2nd, from 7am – 4pm.

Happy holidays!

- Mike, Amanda and Dom

12/20/2023

Christmas shopping, holiday vacations, spending quality family time and planning your finances for the New Year. The holiday season can feel overwhelming for many, which is why we’re here to simplify some of the items to check off your personal finance list. Investors with registered accounts can prepare for the New Year by ensuring they have made applicable contributions or prepping their budget to take advantage of additional contribution room. See the graphic for a more detailed description of important dates to be aware of for the year-end.

To speak with a qualified advisor, visit our website by clicking the link in our bio to learn more about how we can help you in your investing journey.

12/13/2023

What type of account should you invest your money in?

Making this decision depends on many individual factors, such as your investing goals, short & long-term needs and opportunities for tax-savings. To make a well-informed decision, read our latest Blog Post, going over the features of the FHSA/TFSA/RRSP. Each account has particular benefits and there is no one-size fits all strategy, as the advantages of each depend on your personal goals and objectives.

Read more by clicking the link below:

Heading into the end of the calendar year, it’s important to get your ducks in a row to utilize the full potential of your registered accounts. With the addition of the First Home Savings Account (FHSA) to the list of registered accounts available to investors, there's more considerations for some...

12/06/2023

The holiday season is a favourite for businesses to benefit from the increase in consumer spending, as people flock to their nearest mall to get gifts for family and friends. For many, this means focusing their attention on family and friends to connect with, and exchange gifts. If managing your increase in expenses during the holiday season is a challenge, then consider these tips to control costs:

1. Set a Spending Limit: By doing a review of your discretionary money available for holiday spending, you can set aside an appropriate amount for gifts or holiday activities that you’re comfortable spending during the holidays.
2. Be Realistic About Your Budget: It’s important to keep in mind your current personal circumstances to keep gifts within a reasonable range depending on how much you’ve set aside for your budget.
3. Don’t Overextend Your Credit: Credit cards are a great tool for individuals to make purchases, so long as they pay their bills every month, which could be higher due to holiday spending. This reinforces the idea of setting a budget, and expecting more to show up on your credit card statement when compared to your average month of expenses.
4. Get Creative with Gift Giving: Creating your own gifts can be a great way to cut-down on spending and add a personalized touch for the people you’re closest with.

Setting aside some extra money to cover holiday costs is a simple and efficient way to have peace of mind this holiday season, and building a budget can help keep your spending in check. Please don’t hesitate to contact us with any questions or inquiries, and we hope you enjoy this holiday season!

11/29/2023

CPI data for October came in cooler at 3.1%, while interest rates remain unchanged at 5%. Since the beginning of the Bank of Canada’s interest rate hikes, inflation has seen steady decreases over the past year and a half. Inflation (represented by the red line) currently sits at 3.1%, which is less than the 3.8% increase seen in September, and much lower than levels seen across 2022.

The Bank of Canada uses interest rates as a monetary tool to ease high inflation, which normally sits around 2%. Economists are predicting that in order to reach the goal of 2% inflation, we will continue to see interest rates sit around their current 5% mark for several more months. Typically, there is a lagging effect for interest rate hikes to make their way through the economy to consumers, who are seeing less cash in their pocket as a result.

Click on the following link to read the full Bloomberg article: https://www.bnnbloomberg.ca/economists-reacts-to-october-inflation-slowdown-1.2001636

This information has been prepared by Mike Holyk who is a Senior Investment Advisor for iA Private Wealth Inc. Opinions expressed in this post are those of the Investment Advisor only and do not necessarily reflect those of iA Private Wealth Inc. iA Private Wealth Inc. is a member of the Canadian Investor Protection Fund and the Investment Industry Regulatory Organization of Canada.

11/22/2023

It’s normal to see market fluctuations in your invested capital, as a typical market cycle involves periods of ups and downs. In the short-term, it’s important to have enough cash outside of your invested capital to cover imminent expenses. Making an untimely withdrawal from your invested capital while markets are down can have negative effects on your retirement plan, which is why holding cash for immediate needs is important.

Staying true to your investment goals, and not letting emotions get in the way of your objectives remains an essential part for successfully navigating market volatility during retirement. Talking with your advisor is the best course for making informed decisions, and to review your retirement plan to ensure you’re on the best path possible to achieve your goals.

Please don’t hesitate to contact us with any questions or to inquire about opening an account with us. Visit our website by clicking the link in our bio to get in contact and learn how we can help you have peace of mind in your financial journey.

Source: https://www.nbc.ca/personal/advice/retirement/market-volatility-impact-on-retirement.html