Investment icon Warren Buffett says there’s wisdom in being "fearful when others are greedy and greedy when others are fearful." 1 He first gave this advice in 1986 and has re-iterated it over the past few decades during times of financial uncertainty: 9/11 in 2001, the 2008 mortgage crisis, the 2011 Black Monday crash and the 2020 global pandemic.
Relying on wisdom and courage - instead of fear - during unpredictable global events is what Buffett means by his ’fear and greed.’ comment. When others flee during a financial crisis, Buffett’s advice is to be clear-eyed and look for opportunities that...
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A Short Conversation About Banks
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The recent tremors in the US banking system (collapse of Silicon Valley Bank - SVB) have caused some Canadians to question how developments in the US might affects their own savings. The key thing to understand is that there are BIG differences between Canadian and US banking systems.
A Google search for "How many banks are there in the US?” 1 reveals that there are over 4,000 FDIC insured commercial banks versus some 50 or less in Canada – the six large banks, plus Credit unions and some others. The reality is that the US banking system has been consolidating for several decades.
To maintain public "confidence”, the US Federal Government stated that all bank deposits may be protected above the FDIC insured level of $250,000.2 So, at this point...
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Financial Independence Tips for Seniors
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As people age, maintaining financial independence can become increasingly challenging. However, there are steps that senior can take to help ensure that they can continue to live independently and enjoy their golden years without financial worries.
Below, we will discuss some of the ways that seniors can maintain their financial independence for years into the future.
Create a Budget - One of the most important steps that seniors can take to maintain their financial independence is to create a budget. A budget can help seniors understand their income and expenses and make informed decisions about how to allocate their money. By creating a budget, seniors can ensure that they are living within their means and have enough money to cover their basic needs.
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You can get everything in life you want if you will just help enough other people get what they want.
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The comments contained herein are a general discussion of certain issues intended as general information only and should not be relied upon as tax or legal advice. Please obtain independent professional advice, in the context of your particular circumstances. This newsletter was written, designed, and produced by AdvisorNet Communications Inc., for the benefit of Tim Kellar, Investment Funds Advisor with Investia Financial Services Inc., and does not necessarily reflect the opinion of Investia Financial Services Inc. The information contained in this newsletter comes from sources we believe reliable, but we cannot guarantee its accuracy or reliability. The opinions expressed are based on an analysis and interpretation dating from the date of publication and are subject to change without notice. Furthermore, they do not constitute an offer or solicitation to buy or sell any securities. Mutual Funds are offered through Investia Financial Services Inc. Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. Please read the prospectus before investing. Mutual funds are not guaranteed, their values change frequently, and past performance may not be repeated.
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Task Wealth Advisors
6B - 1410 Bayly Street
Pickering, ON L1W 3R3
Ph: (905) 421-9442
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