Sorry about the delay in getting this update out. My better half just had a knee replacement (it’s going well!) so I’ve been on nurse duty. Here are a few updates for you:
- BC Property Tax Deferral: For those of you wanting to renew your property tax deferral or start a new one, the program is now open. You can visit this link for more details and to apply.
- RBC just came out with a cool new app to help kids (and parents) learn about money. The app has two different ‘views’ and the look and functionality differs if you are a parent or child. Check it out by looking up ‘MyDoh’ in the app store or looking here. I imagine it would work with grandparents and grandkids as well!
- We’ve had some fairly crazy market volatility over the last few weeks. Obviously there are a number of factors involved: inflation, Ukr-Russ situation, China, interest rates to name a few. It’s been awhile since we had a good market correction and I’m actually happy to see it. Markets need to cool off a bit after the insane valuations we saw in some companies over the last year or two. While we never enjoy seeing volatility, it’s during times like this that it is good to remember that (a) market volatility is a natural part of the business cycle; (b) if share prices are dropping it doesn’t negate the fact that we are still in a market: there is a buyer for every seller; (c) bear (down) markets typically don’t last too long; and (d) what happens in your personal portfolio may not be exactly what happens in the market – it’s important not to conflate the two.
- Gas prices: Gas may go up another 8-10 cents in the next two weeks so you might want to fill up now! Pricing probably will not change much as summer demand is often the highest of the year as personal travel increases and air conditioners run full-bore. Fuel price increases are also contributing to the rise of inflation although most economists now feel that inflation has peaked and should start to decline. Here is a the inflation forecast chart comparing Canada with the G7:
Enjoy the sunshine! We’re here to help should you need anything at all. Thanks also for the referrals you’ve sent over the last month or two.Cheers,