South Coast Financial Services
We care about your financial self defence ... shouldn't you?
Dear Visitor,As we all have seen the Crovid-19 virus has changed everything in our world today. The stock markets are way down and people are feared for their investments amongst everything else.
This is just like our 2008 crash people were saying they lost lots of money. Well the truth of the matter is some actually lost money while others only lost money on paper. The people who actually lost money are those who withdrew their money due to fear (and some for need granted). The people who lost on paper road out the storm and kept their money invested. The investments at the time of the pandemic crash were way higher than they were at the start of the 2008 crash.
Now we understand that in some cases you may need to withdraw funds for personal emergencies and if you are on a RIF our LIF type account you have to take out a certain amount based on government regulations and to top up your retirement. But if you don’t have to make withdrawals don’t! The stock market should start to recover once the pandemic is over and no one knows when that will be.
Now how long will it take to get back to the levels of today? No one knows however based on the history of the stock market it is always higher every 10 years. So if that holds true, 10 years after this crash we should be at a value above the start of the pandemic crash.
Another thing to remember is that there are guarantees on your investments if you are invested in Segregated Funds with an insurance company.
Some facts about guarantees:
If you are in a mutual fund however you have none of the above guarantees and unfortunately your investment is based on the current market value. If you wish you can transfer your funds from mutual funds to segregated funds you can do RRSP, RIF, LIRA, LIF, TFSA, & RESP’s.
Bottom line is that we are in a different world now which will hopefully return to normal once the pandemic is over.
If you wish to talk to us about your investments our contact information is below.
We provide services in all these areas: Income Protection
Investing for the Future
Wills & Powers of Attorney
Should you desire more information in any of these areas contact us, our contact information is below and we would be glad to setup a time where we can sit down and discuss things with you.
Also make sure you book your appointment for your complimentary, comprehensive and confidential Financial Goals Analysis. The analysis can lead you and your family to your financial goals and dreams!