Monthly Archives: August 2013

Odette Morin
Terry Broaders

Weekly Update August 19 2013

“Canada Needs The Senate Like I Need Another Cavity” -Gerald Caplan


TSX Finishes Higher

The Toronto stock market was modestly higher as gold hovered near a recent high. The S&P/TSX composite index lifted 32 points to 12,736. The Canadian dollar dropped 0.32 of a cent to 96.71 cents US after Statistics Canada reported that manufacturing sales fell in June for the fourth time in six months, dropping 0.5% to $48.2 billion. The TSX energy sector was up 0.9% as the September crude contract rose 76 cents to US$108.09 a barrel as unrest in Egypt keeps traders cautious over how it could affect supply through the region.  Though not an oil producer, Egypt controls the Suez Canal that links the Mediterranean Sea and Red Sea, giving it a crucial role in maintaining global energy supplies. In the U.S., the Commerce Department reported that builders began work last month on houses and apartments at a faster pace. The seasonally adjusted annual rate of starts was up 6% to 896,000.

European Recession Ends

The European Union has proclaimed an end to its longest ever recession. The 17 countries that use the euro saw economic output grow by 0.3 % in the second quarter, the EU statistics office reported Wednesday. It was the first growth recorded since late 2011. Michael Smedley, a portfolio manager at Morgan, Meighen and Associates, suggested Europe’s improved economic prospects should have a positive effect on the outlook for its economy for the coming months. “You get a very slight show of confidence that has been absent for so long, the market will tend to feed off that a bit,” he said.  “So you should get a continuation of moderate improvement in the overall economic state in Europe.”

Market Update As Of August 16 2013


The TSX closed at 12737, up 195 points or 1.55% over the past week. YTD the TSX is up 1.56%.

The DOW closed at 15081, down -345 points or -2.24% over the past week.YTD the DOW is up 15.09%.

The S&P closed at 1656, down -35 points or -2.07% over the past week.YTD the S&P is up 16.13%.

The Nasdaq closed at 3603, down -57 points or -1.56% over the past week.YTD the Nasdaq is up 16.56%.

Gold closed at 1374, up 61.00 points or 4.65% over the past week.YTD gold is down -18.21%.

Oil closed at 107.66, up 1.63 points or 1.54% over the past week.YTD oil is up 16.30%.

The USD/CAD closed at 1.0335, up 0.0044 points or 0.43% over the past week.YTD the USD/CAD is up 4.65%.


Pension Plans Funding Troubles

Summer Costs A Lot of Money

You Know That Will ?


Sources: Bloomberg; Investment Executive:

Odette Morin

Pension Plans funding troubles

Benefits Canada reports that too many Pension Plans have funding troubles. The aggregate funding rate is currently at 78% which shows a profound problem. While pension plans offers guaranteed income, if not properly funded could put your retirement cash flow in jeopardy. Find out your pension plan funding rate and make sure to plan for this potential issue and save on your own in addition. We can help you figure this out of course and help plan properly for all potential.

Read the full article here




Odette Morin

Do you wonder what to read and especially believe about the news?

A lot of it is overblown hype, remember the Y2K? lol and more recently the debt crisis predictions in Europe and the collapse of the US dollar? My advice is to remember the big picture and to read a broad range of articles and ideas to form a good rounded opinion on your own. Using good judgement and remaining RATIONAL pays and allow you to sleep at night. Here is a great article from the Million Dollar Journey on the subject.

How to read the business news article


Odette Morin

Summer cost a lot of money

Parents across Canada will spend $2,300 more than they had previously anticipated to keep their kids occupied this summer, says a new BMO study.Parents, please don’t give in to everything you kid asks for. True Love is free and creative play, too!!

If you come in for your annual meeting, you will sure have heard me talk about a vacation fund.  It is an easy way to build that fund you will need once or twice a year.  Get the kids to participate by saving a few pennies from their allowance to a dedicated vacation kitty. An empty milk glass bottle with a few pictures of your last vacation or the next destination, is a fun way to get them involved.  For the bigger dollars, they should direct that money to a High Interest Savings account.

The Manulife Bank online account currently pays among the highest at 1.55%.  You can transfer funds from your chequing account or set up a systematic saving plan. Contact us to set one up for you and your family and be on your way to your next vacation!

Set up a free High Interest Savings Account with email hidden; JavaScript is required


kids vacations

Odette Morin

You know that Will that you don’t have and you sure know you need.

Especially if you have children especially, or have investments other than RRSPs & TFSA, you need a Will.  This is not something you should be postponing or procrastinating.

It will cost you about $500+ per person, often more depending on the complexity, but it is the responsible thing to do. I have a great infokit to help you. Let me know if you need it or if you need a lawyer referral. We have a great guy who cares and can really help outline your last wishes.

Contact me to get a referral and our infokit at email hidden; JavaScript is required