The end of the World – again!

August 9, 2013

twinkies comic

I’m constantly coming across articles predicting impending recession, hyperinflation, devaluation of currencies and the like.  Maybe the news media are having a slow month – no global economic disaster to have us glued to our TV’s or purchase magazines, so they have to dig out some so called expert that raises the question of or predicts impending disaster. (Please refer to April’s Newsletter which linked to an article of 36 ‘experts’ predictions over the last 5 years.)

I have no idea whether we will experience inflation or hyper-inflation, devaluation of currencies, or whatever other economic malaise the financial press can come up with.  I do know that regardless of what we actually experience, we’ll muddle our way out of it – because that’s what we’ve done for hundreds of years.

Successful investing has little to do with intelligence – it’s more about faith, patience, and discipline. Faith that shareholder value will continue to increase because on average the men and woman running the businesses we invest in have always succeeded to earn more than they have risked. Patience because the market often does not reflect true value of a business and we must wait for our returns.  Discipline to continue to invest (or stay invested) regardless of the immediate demands on our funds.

Estate Planning – new rules

Recent revisions to the Estate Administrations Tax Act which came into effect in Ontario last January will make an executor’s job a little more burdensome and possibly risky! The changes involve the reporting of estate assets and enforcement and penalty provisions.  If you are named as executor for an estate, you may want to discuss these changes with the estate owner and ensure the estate is properly planned.

Link to new rules

I know estate planning is about as much fun as cleaning a bathroom – but probably more important if you’re concerned with your family’s financial security

This link will take you to a number of articles on various aspects of estate planning – one or two of which may be of interest.

Click to read more about Estate Planning

OSAP Grant – you may qualify

Even if you don’t apply for any funds from the Ontario Student Assistance Program for post-secondary school you may qualify for an Ontario Student Grant.

This is a link to apply for a 30% tuition refund: OSAP Website .  If your combined family income is < $160K you qualify.

This link will take you to the means test: Means test link .