Markets Update December 1, 2019
Not too late to catch online sales with expectations of double digit increases in Cyber Monday sales over last year.
Tax Free Savings Account
2019 Contribution Limit = $6000
2020 Contribution Limit = $6000
Jan 1, 2019, Cumulative Limit = $63,500
Jan 1, 2020 Cumulative Limit = $69,500
Registered Retirement Savings Plan
2019 Contribution Limit $26,500
2020 Contribution limit $27,230
Deadline for 2019 tax deduction February 29, 2020 (LEAP YEAR!)
Turned 71 in 2019?
Deadline to contribute to RRSP December 31, 2019
Consider over contribution by $2000 exemption threshold, no penalty
One month left in the year and the decade. Are we in for a volatile month like last year? Politics and investments don’t usually mix, but investors cannot ignore the fact that 2020 is a U.S. Presidential election year. According to the Stock Traders’ Almanac, the Dow Jones Industrial Average has averaged a gain of 10.2%, when a sitting President runs for re-election. History suggests that we can tally this one for the Bulls but we are not there yet!
CNBC: Investors have become 'euphoric' into year-end, so a market peak could be near, RBC says. https://www.cnbc.com/2019/11/27/investors-have-become-euphoric-so-a-peak-could-be-near-rbc-says.html
Fear of missing out is a big factor as markets continue to make gains. So do you stay in, get out or reduce exposure?
5 myths about the Canada Pension Plan
https://www.thestar.com/business/opinion/2019/11/04/five-myths-about-the-canada-pension-plan-debunked.html
Great article from the Globe on how the average Canadian household spent more money on taxes in 2018 than on living expenses: https://www.theglobeandmail.com/business/article-average-canadian-household-spent-more-on-taxes-than-living-costs-in/
Have a Merry Christmas, Happy Holidays and a Happy New Year!
The opinions expressed in this message are those of the writer and do not necessarily reflect those of Equity Associates Inc. Mutual Funds are provided by Equity Associates Inc., registered as a Mutual Fund Dealer and an EMD Dealer in select provinces and offers products and select referrals. Individuals should always read the fund facts before investing.All other products sold other than mutual funds are not supervised or the responsibility of Equity Associates Inc