Insights: CFA ESG, Canadian real estate, reviewing insurance policies + summer solstice
Good reads:
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·????????Weekly Investment Strategy
·????????This is Why You Stay the Course
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Best quote of the week:
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“How wonderful it is that nobody need wait a single moment before starting to improve the world.” – Anne Frank
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Update: I earned my CFA ESG certificate
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I’m proud to announce that I earned my CFA ESG certificate last week.
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The certificate and learning materials were developed by leading practitioners for practitioners, and have been recognized by the UN Principles for Responsible Investment (PRI), an independent body that seeks to encourage investors to use responsible investment to enhance returns and better manage business risks.
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It was a heck of a lot of work, but it was by far the most interesting course I’ve taken.
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It’s something that spoke to me on a number of levels.
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The content really fit with my outside/personal interests, so taking the course was a no-brainer from that perspective.?But, what I liked most about it, was that it’s given me the tools to be able to take some of those values and apply them to my professional life.
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Now that I’m done with studying, I’m really looking forward to building out some of my thoughts on the portfolio management side of things. More to come!
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Best soundbite of the week:
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Insurance is often one of those things that people get and then promptly forget about.?However, regularly reviewing your policies is good practice. Sometimes things can change in either your life situation or the policy itself, so you want to make sure it is up-to-date versus your goals.?Here is an excerpt from an article that outlines a few questions to help you get started:
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·????????Beneficiaries: Have you updated these documents recently: countless court cases over unintended and conflicting beneficiary designations? Think of your pension plan, RRSP, TFSA, group life insurance and private policies. Be sure your will does not conflict with those.
·????????Renewed Rates Forgotten: Has your term policy renewed at prices out of the market range? Should you challenge the medical and get new coverage for a fraction of the premium?
·????????Redundant Riders: Are you paying for riders that may no longer have value at this stage of life? Riders like AD&D (accidental death and dismemberment) on a life policy or future insurability on an old disability contract are some examples.
·????????Coverage: Do you still need all that coverage if you have paid off the mortgage and your kids are on their own?
·????????Policy Structure: Is your permanent policy (universal life or whole life) properly structured? Review investment options, funding methods and extra features that may be cannibalizing the plan.
·????????Premium Frequency: Can you switch from monthly to annual payment to save 5-7 per cent on premiums?
·????????Sometimes, spring cleaning is about finding space for new items. Equally, once you have freshened up your insurance portfolio, there may be room to include more current term plans at better rates or a new strategy to reduce tax and secure a lasting legacy.
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If you’d like to have your plans reviewed, let me know and I’ll coordinate a chat with my insurance and estate planning specialist.
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Best visuals of the week:
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I always joke that Canadians talk about real estate almost as much as they do about the weather.?So with that in mind, I thought I’d share an interesting chart that I came across from RBC Global Asset Management.
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While the Canadian housing market has been in decline, it’s been paltry in comparison to the gains made during the pandemic. Perhaps a little bit of perspective to keep in mind during difficult times in the real estate market.
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In case you missed it:
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If you look strictly at performance, the markets have been pretty resilient this year; however, digging a bit deeper into the numbers paints a bit different picture. I chatted with Jenna Dagenhart and Asset TV Canada about the impact that mega-caps are having on markets, my latest thoughts on recession risks, and some common questions that pop up these days.?Watch the full interview here:
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I’d love to hear from you
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Do you have a question about the markets? Or perhaps you’d like to learn more about a particular financial planning topic? Maybe you’ve got a question about your own personal situation?
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Send me your question, and I’ll include it as a topic in an upcoming newsletter: [email protected].
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Beyond the markets:
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Summer is finally here (or winter if you live south of the equator). Here are some interesting facts about summer solstice:
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·????????The word “solstice” comes from the Latin words sol “Sun” and stitium “standing.” On the summer solstice, the Sun’s path stops advancing northward each day and appears to “stand” still in the sky before going back the other way.
·????????On the solstice, the Sun reaches its northernmost position, reaching the Tropic of Cancer and standing still before reversing direction and starting to move south again.
·????????On the summer solstice, you may observe that the Sun’s path across the sky is curved, not a straight line. It appears to rise and keeps veering to the right as it passes high overhead. This is quite different from the laser-straight path the Sun moves along in late March and late September, near the equinoxes.
·????????You may also observe that the midday Sun is highest up in the sky (or, lowest if you live in the Southern Hemisphere). But did you know that the Sun’s highest point is getting lower and lower over time? That’s because Earth’s tilt is slowly decreasing.
·????????It may be the “longest day,” but it’s not the latest sunset. Nor the earliest sunrise. The earliest sunrises happen before the summer solstice and the latest sunset after the summer solstice.
·????????In India, the summer solstice ends the six-month period when spiritual growth is supposedly easiest.
·????????On this day, the Sun rises farthest left on the horizon and sets at its rightmost possible spot. Sunlight strikes places in your home that get illuminated at no other time.
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And, on a fun and somewhat related note, did you know that 1.4 billion years ago the days were only 19 hours long? As the Moon moves further away from Earth, our planet’s rotation slows down, lengthening the day and hence why we’re now at 24 hours. Here is a link to an article on the science behind it, which is quite neat.
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Source: Almanac
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Thanks for reading, and I wish everyone a great weekend!?
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Cheers,
Kim
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Kim Inglis, BCom, CIM, PFP, FCSI, CAFA
Portfolio Manager
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T: 416.777.6417 (Toronto)
T: 604.654.1160 (Vancouver)
T: 250.979.1803 (Kelowna)
TF: 1.877.363.1024
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