Hazzardous Notes Newsletter for January, 2020

January 08, 2020 | Kevin J. Hazzard


Welcome to the dawn of a new year! I took this cover photo on a recent early morning walk with my wife. I think it captures well the feeling of renewal that comes with the start of each new year.

Opening Notes

I hope everyone had a great Christmas and holiday time with family and friends.  The weather has not felt very much like winter, but I haven't heard too many complaining about that.  As we have done for years, my Hazzard family got together on New Years day for our annual gathering.  We tried something new this year - a family Crokinole tournament.  The picture at right shows my Dad confidently gathering his crokinole pieces.  As a regular Crokinole player, he generally makes most of us look pretty bad.  My daughter, Gemma, enjoyed success as his partner this year, even though they just missed out on a berth in the finals.  Teams of two were chosen at random and after a couple of hours of games on multiple boards, we had a first annual champion to take home the trophy - yes, a trophy - we take things very seriously.  My sister Connie and her husband ended up being this year's champs.  If I am ever going to challenge for this annual title, I will need to start by actually owning a crokinole board to practice on.

We have included in this month's newsletter links to good and timely information that should be of value to you, including the annual 2020 Outlook report from head office and some good tax and financial planning resources as well.  Have a great start to 2020!  Please contact us if there is anything you need.

RBC Global Insight - 2020 Outlook

RBC Wealth Management has launched the Global Insight 2020 Outlook, which showcases unique perspectives on issues and opportunities that could define the year ahead.  Featured articles are shown below.  Follow this link to read the report: RBC Global Insight - 2020 Outlook  (press the back button to return to the blog)

2020 investment stance: Our constructive view on financial markets runs parallel to a continued need for vigilance.

Eyes wide open: We see higher ground for equities in 2020. We are also more cautious than at any time in the past decade.

Upside down: The impact of negative yields: How might the persistence of negative rates change investor behavior and risk exposure?

The low rates puzzle: Is the solution to the last problem the source of the next?: Are low interest rates and accommodative central bank policy sowing the seeds of future problems?

A new industrial revolution: A new dawn is transforming the investment outlook for the Industrials sector.

2020 Handy Financial Planning Facts

Not sure exactly when they started producing this annual report, but it is truly one of the "handiest" reports provided.  We access this report all year long in meetings with clients.  It provides up-to-date information on TFSA and RRSP annual contribution limits, key dates and deadlines, RESP & RDSP basics, Yearly Maximum Pensionable earnings figure (YMPE), CPP & OAS information, income tax information, government contact information and much more.  Follow this link to read the report: 2020 Handy Financial Planning Facts  (press the back button to return to the blog)

Early 2020 Tax Tips

When the end of the year approaches, many individuals place a greater focus on tax planning to minimize their income tax liability.  Beyond the end of the year, however, there are some areas of tax planning that often get overlooked.  For example, there are tax planning strategies that may only be available early in the new year.  With that in mind, this article summarizes some of the strategies that have deadlines in early 2020.  Follow this link to read the report:  Early 2020 Tax Tips (press the back button to return to the blog)

Changes to Our Website - New Client Resources tab (see screenshot above)

Besides initiating the monthly newsletter blog, we have also made improvements to the website.  Check out the Client Resources tab for the following good resources.

  • GIC rates - updated every day
  • Tax reporting guide
  • Introduction to eDocuments
  • Introduction to DS Online
  • Guide to understanding your DS statement
  • Video on acting as a Power of Attorney

E for a tree Initiative

Switch your accounts to e-statements between January 1 and August 31, 2020 and we will plant a tree in your honour.  Through our ongoing commitment to creating a low carbon economy, RBC Dominion Securities aims to plant 300 trees in Lambton Kent this year.  Review the "Introduction to eDocuments" link under the Client Resources tab just introduced above or click on this link for more information: E for a tree Initiative (press the back button to return to the blog)

2020 TFSA contributions

With a new year comes another opportunity to make a TFSA contribution.  The limit for this year is $6,000.  If you would like us to take care of that for you from your non-registered account, please contact Michelle.

Deadline for 2019 RRSP contributions

The deadline to make 2019 RRSP contributions is March 2, 2020.  We will be sure to remind you at least once more before that deadline is reached.