The McClelland Financial Group Newsletter

Announcements
A special message from the TMFG team

Wishing You A Happy and Healthy New Year!

DEEP DIVE
In Depth Article – Heavy on the facts and details definitely for the committed reader.

Rob's Read

My 2020 Investing Lessons

AWealthOfCommonSense.com:

"Some lessons from a crazy year in the markets:

Investing when things look bleak remains a profitable strategy. I had a number of conversations in March, April and May where people asked, “How could the stock market possibly not get worse? Just look at what’s going on all around us.”

We all spent a lot of time debating how in the world stocks could continue rising in the face of a worsening pandemic and employment picture."

View Article 

Rob McClelland RFP, CFP, HBA Vice President, Co-Branch Owner, Senior Financial Planning Advisor The McClelland Financial Group of Assante Capital Management Ltd.

FINANCE
Light Read – Useful and Relevant

Finance

COVID-19 Economic Response Plan

Canadians are now into their 9th month of dealing with the economic fallout due to COVID-19. Effective December 15th, the federal government’s "COVID-19 Economic Response Plan" has introduced some new measures and some existing support measures have been amended and/or enhanced.

Please see the attached summary. Contact our office and speak with your advisor if you require clarification or have general questions about how you are affected.

View Full Plan PDF 

Carlo Cansino FMA, FCSI, CFP Senior Financial Advisor The McClelland Financial Group of Assante Capital Management Ltd.

OPINION
Light Read – Editorial

Opinion

Do you want to be Rich or Wealthy?

Many people get very confused by the two. They’re often assumed to be synonymous with one another. The truth is they are very different, sometimes even contradictory. Rich, is what is perceived by people on the outside. It’s best portrayed by how you spend your money. Wealth, on the other hand, is not what you show, but more accurately, what you have. My general observation has been that in order to appear rich, you must spend money. This exercise, by its very nature, generally reduces your wealth.

I recently finished reading the Psychology of Money, by Morgan Housel. He addressed the concept of rich vs. wealthy, which resonated with me. It brought me back to an article I had read many years ago that illustrated Mike Tyson’s “wealth” in his glory days. Mike Tyson was earning so much money, that he spent a small fortune ($2.2M) on a gold bathtub. From the outside looking in, this is a very rich man. Fast forward to 2003, Mike Tyson declared personal bankruptcy. Incredibly rich, however, no wealth.

Enter Warren Buffett. The absolute polar opposite. He still lives in the same house that he bought in 1958 in Omaha. Its worth is approximately $650,000. From the outside looking in, he would not be regarded as a rich man. However, his overall net worth of over $88B would suggest he is wealthy beyond our comprehension.

Can we only assume that Warren Buffett achieves superior returns on his investments? No doubt, Buffet has done well with his investments, but I assure you this is not the sole difference. It can all be broken down to basic spending and savings habits. This will be the biggest factor in determining your financial future. It may come as a surprise to many of you, but not to us. In our years acting as financial advisors, we have been privy to and experienced both scenarios. There will always be good and bad returns. Ultimately, it’s spending and savings habits that will determine whether you are rich or wealthy.

Michael Connon B.Sc, CFP Senior Financial Planning Advisor, Co-Branch Manager The McClelland Financial Group of Assante Capital Management Ltd.

Announcements
A special message from the TMFG team

The McClelland Financial Group Toy Drive Was A Success Again This Year!

Thank you to all our generous donors. We collected $1500 in toys and donations. Thanks to your contributions, we will see a few more smiles this holiday season. Tax receipts will be sent out by CHUM at the end of January directly to you.

DEEP DIVE
In Depth Article – Heavy on the facts and details definitely for the committed reader.

Deep Dive

What factors are pushing the world to sustainable investing

The world has been moving to a more focused effort for sustainable investing, but who or what are the forces behind that movement. The following article looks into those forces.

View Infographic 

#Sustainable #Investing #ESG #Global #Greeninvesting

John Iaconetti B.A.S., Spec. Hons. Administrative Studies (Finance) Financial Advisor The McClelland Financial Group of Assante Capital Management Ltd.

LUMEN
A snippet of need to know tips and tricks for your financial life.

LUMEN

Pay Yourself First

DEEP DIVE
In Depth Article – Heavy on the facts and details definitely for the committed reader.

Deep Dive

Top 3 COVID scams to avoid

It seems every week there's a new fraud you need to know about to avoid becoming a victim. Now COVID is the new theme for fraudsters. Here's an article with some common COVID scams so you can be aware of them, know it's fraud and not become another victim.

View Article 

#covid19 #scam #fraud #victim #aware #scammers

Michael Ams B.Com. Strategic Associate The McClelland Financial Group of Assante Capital Management Ltd.

Ask TMFG

Watch The Latest Videos

THINK SMART
Podcast – Listen to Mike and Rob and their latest thoughts and industry insights

Think Smart

Review us on Google!

Google Reviews help local businesses stand out in a crowd. If you have a Google account please take a moment to go to our page and give us a review. Thank you!

Look for this button at the bottom left:

Assante Capital Management Ltd. is a Member of the Canadian Investor Protection Fund and Investment Industry Regulatory Organization of Canada. This material is provided for general information and is subject to change without notice. Every effort has been made to compile this material from reliable sources however no warranty can be made as to its accuracy or completeness. Before acting on any of the above, please make sure to see me for individual financial advice based on your personal circumstances. Insurance products and services are provided through Assante Estate and Insurance Services Inc.

Commissions, trailing commissions, management fees and expenses, may all be associated with mutual fund investments. Mutual funds are not guaranteed, their values change frequently and past performance may not be repeated. Please read the Fund Facts and consult your Assante Advisor before investing.

Certain employees of (TMFG Tax Service) maintain a relationship with Assante Capital Management Ltd. ("Assante") through which they sell investment products. The relationship that they have with Assante does not include tax preparation services which (TMFG Tax Service) is solely responsible. (TMFG Tax Service) is not associated in any way with Assante, and Assante has no responsibility for the tax preparation services offered by (TMFG Tax Service).

*Please note that a live recording may be conducted at our workshops. Consent will be obtained, should you be captured in the video.

**All personal information will only be used in accordance with your consent, and in compliance with Assante's Privacy Policy.

Let's keep communicating. We value our relationship with you and want to stay in touch, whether it's regarding events or newsletters. In brief, The McClelland Financial Group aims to provide you with information that is relevant to you. As you are likely aware, on July 1, 2014 Canada's Anti-Spam Legislation (CASL) came into force which requires your consent to receive electronic communications.

If we do not receive an unsubscribe email from you we will continue e-communications under the implied consent provisions under CASL. **