Summer 2009
At one time, diversifying into the U.S. markets was considered a “no-brainer”. The world’s largest and most dynamic economy was the place to be when it came to wealth creation. But with U.S. markets having provided little to cheer about and the U.S. economy facing its biggest crisis since the Great Depression, should Canadian investors take a pass?
Summer 2009
The financial crisis that has sent asset values tumbling could have profound implications for your estate plan.
As one of the worst performing years for markets since the Great Depression, 2008 has left many feeling poorer than they did a year earlier. As if to add insult to injury, the early part of 2009 saw values decline even further. During this period, you could look at just about every asset class and find that prices had dropped significantly. While there has been some rebound in values lately, everything from investment portfolios and real estate holdings to privately owned businesses and philanthropic funds are still off from their previous highs. In times such as these it pays to re-evaluate your estate plan. What made sense when markets were at their peak, may no longer be appropriate. Furthermore, the downturn could provide an opportunity to reduce the amount of tax your estate will have to pay.
Summer 2009
Whether you are lucky enough to have an employer-sponsored pension plan or Group RRSP, or are saving for retirement on your own through personal savings, the current economic climate is cause for concern. Major market losses, sustained low interest rates and a weak economy could mean that you’ll have less for retirement than you thought. Make sure you know where you stand – now’s the time to assess your situation and, if necessary, chart a new course.
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