Visit our website Have a question? Call (905) 771-5200
Assante Capital Management Ltd. January 2021

Assante Wealth Management

Having trouble viewing this email?
Click here to view the hosted version.
 

The McClelland Financial Group Newsletter

 

Announcements
A special message from the TMFG team

Honored to be recognized as a Top 50 Canadian Advisor once again!

 

Next monthly Zoom Yoga Session

on February 19 at 12pm - Join us!

Next session will be on March 19th

 

FINANCE
Light Read – Useful and Relevant

Finance

Calm Down the Blue Wave is Already Priced In

WealthProfessional.ca:

If you’ve just watched the six o’clock news about the Democrat party’s Blue Wave and are getting ready to make a Biden trade, take a minute and cool your jets.

As the fervor over political change south of the border hits peak intensity – especially after the horrendous scenes on Capitol Hill on Wednesday – one portfolio manager gave WP a more sober, realistic from an advisor’s perspective.

With his practice managing retail investors, pension-style investing leads the strategy. Rob Tetrault, of Tetrault Wealth Advisory Group, Canaccord Genuity Wealth Management, urged investors and fellow advisors to remember that unless they feel they have a competitive advantage on information, the market has already priced in events in real time.

He said: “The market is an accurate minute by minute, second by second reflection of everything that's happening. If you think that you can get ahead of something, you're either believing that for one of two reasons. You're either believing that you have a competitive advantage, for whatever reason, or you believe that there's arbitrage in the market that hasn't been properly reflected yet; you believe that it's taking time for certain sectors or for certain trades to take hold. And that is the case sometimes.

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

NEW YEAR, NEW GOALS

2021 TFSA CONTRIBUTION LIMIT IS $6000

Contribute Today

Get one step closer to your goal today!

 

FINANCE
Light Read – Useful and Relevant

Finance

TFSA - The "Ins" and "Outs"

The Tax Free Savings Account has been part of the financial services vernacular since its inception in 2009. For the past 12 years, Canadians have been able to take advantage of tax-free investment growth.

The concept seemed simple – deposit money into the account, invest the funds into an investment, watch it grow with absolutely no tax implication. End of story.

Since the beginning in 2009, the annual amount that one could contribute into a TFSA has increased. Initially starting at $5,000/year, it has slowly increased to $6,000/year with one year (2015) allowing a contribution of $10,000. As of January 2021, the maximum that one could contribute into a TFSA is $75,500. As simple as the concept may seem, there are still questions posed on the regular regarding withdrawals and how it impacts contribution room.

Unlike an RRSP, any amount withdrawn from a TFSA is recovered as contribution room in the following calendar year. This rule allows investors to still benefit from the maximum room allowable even if short term needs from the TFSA arise.

For example: Sally has maximized her contributions to 2021 ($75,500) and invested wisely to grow her TFSA to $100,000. Sally is in the middle of a real estate transaction and requires the $100,000 to bridge between the purchase and sale. She withdraws $100,000 from the TFSA with the intention of returning it to her TFSA after the sale of her property. Sally withdraws her funds in December and is able to return her funds into the TFSA in January of 2022. In addition, she has another $6,000 in contribution room due to the new year. According to the CRA, total TFSA contribution room in 2022 would be $81,500 but Sally could contribute $106,000 because of the amount withdrawn in 2021 plus the 2022 contribution room.

Conversely, the same rule can be detrimental to an unsavvy investor. In this example, Sam has maximized his contributions to 2021 ($75,500) but due to poor performance, has a market value of $50,000. He withdraws his $50,000 in December 2021 and has the funds to return it to the TFSA in January 2022. Instead of being able to contribute $81,500, as allowable by CRA, Sam can only contribute $56,000 due to his withdrawal of $50,000 in 2021 plus the 2022 contribution room.

The CRA is not concerned with the performance within the TFSA. Contribution room is determined by money in and money out.

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

 

LIFESTYLE
Light Read – Fun and Enjoyable!

Lifestyle

Should you move out of the city?

Since the pandemic so many of us are working from home. There is no need to live close to the office considering the office is just outside your bedroom. Should you get away from the busy lifestyle of the city. It may be right for you.

View Article 

#Realestate #covid19 #moving

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

 

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

Deep Dive

5 Resilience Strategies Seniors Are Using During COVID-19

The COVID-19 Pandemic has posed incredible hardship and pain for many people and especially for many older adults and their families. Hopefully this article and it's strategies can help those seniors who are suffering through these difficult times.

View Article 

#seniors #covid19 #mentalhealth #health #wellness

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:

 

7787 Yonge Street, Thornhill, ON, L3T 7L2
www.tmfg.ca | [email protected]
For more info please call: (905) 771-5200

RSS Twitter Facebook Youtube Linkedin

You are currently signed up to The McClelland Financial Group's newsletters.
Copyright © 2021 The McClelland Financial Group.

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. **