Nicole Rothe - Dec 24, 2020
What a year 2020 ended up being.
2020 saw many unforeseen events play out. We saw a global pandemic, lockdowns, major geopolitical disputes, oil conflict, a major election, and vaccine announcements to name a few. We saw a sharp market downturn, followed by a sudden recovery period.
For a lot of us, life looked a lot different this year and we had to learn how to adjust. This was also true for us. I wanted to sincerely thank you for working with us this year and being flexible in the way we had to meet/communicate due to restrictions. This was not the way we intended on working with you this year. My focus is always to meet with you regularly because I believe meeting and reviews are exceptionally important. This year made that hard to accomplish. In 2021 we look forward to potentially getting to see people face-face again.
November ended up being a great month for the market as a whole. There was uncertainty about how the US election would play out, and how it would affect the markets. Fears were that a contested election could cause market volatility. However, while we have seen a contested US presidential election, the Republican-led Senate, and Democrat-led House have remained divided. This is seen as a “best-case” scenario meaning fewer future legislation and policy changes. The market reacted positively to this throughout November paired with a Vaccine announcement.
RRSP season for 2021 will be a challenge. The deadline is March 1st, 2021. I want to ensure that I can assist everyone in a timely manner. It is better this year, more than ever, to be proactive if you know you need to make a contribution before the deadline. As we are required by legislation to now be “by appointment only”, we ask that you call the office if you need or want to come in. Manulife has introduced new measures to allow advisors to assist clients remotely for those who are not able to, or do not feel comfortable coming into the office. We now have DocuSign capabilities for certain documents/transactions.
The TFSA limit for 2021 was announced in November. Eligible individuals will receive an additional $6000.00 of TFSA limit room January 1st, 2021. Whether you have a TFSA and want to top it up, or do not have a TFSA and want to discuss the benefits, please give me a call.
As this year comes to a close, I am looking forward to what 2021 has in store. Hopefully, it brings a fresh start where we can look forward to being able to see our friends and families normally.
Wishing you all a happy Holiday season from my family to yours.
Nicole Rothe BSc, CFP®, EPC
Financial Planner, Manulife Securities Investment Services Inc. | Rothe Wealth Management
The opinions expressed are those of the author, Nicole Rothe, and may not necessarily reflect the views of Manulife Securities Investment Services Inc.