2021 December Update

Uncertainty has ruled 2021 just as much as it ruled 2020, and it might have felt a little easier, or a little worse, depending on how much consistency you were able to find. Despite all this uncertainty, we hope that your year has included many bright moments of hope.

At Spring Plans, we found our bright moments when we talked with you. We found it fascinating how many people were really, really rethinking their lives, their jobs, and their goals for the future. It seems there’s nothing quite like a pandemic to force you to laser-focus on what’s going to give you what you want out of this life. We found ourselves repeatedly sharing the articles we wrote this year on values, and our entire series on how to design your own life, well spent.

We’re so very grateful for the opportunities that we’ve had to help you understand your finances, designing them around your values and the life you know you want. We’ve been so delighted when we’ve learned that the information and analyses we’ve provided have helped you take that next step – whether it’s chasing a dream you always thought was impossible, stepping away from a vocation that was sucking out your soul, or giving to children and charities more than you ever knew that you could.

That’s really the point of financial planning. It’s never been about optimizing your portfolio, taxes, insurance, or legal strategies. Of course, those things help you get where you’re going, but they’re the “how”. They’re not the “why”.

Your why is unique to you, because you’re the only one living your life. What’s going to make it feel engaging, fulfilling, and invigorating has everything to do with the person you are… and the experiences you have had. It’s easy for us to forget that life is lived from our own perspective, and we can so easily get caught up in what others think about our lives. But all of that is just noise, distracting us from our “why”.

Our “why” is to help you figure out how to use the resources you have at hand to make your “why” happen.

It’s been an absolute pleasure to have the opportunity to help you achieve your dreams, feel secure despite all the uncertainty, and become empowered as you take control of your life. We’re looking forward to doing it again, all through 2022.

As the year closes out, we’re celebrating you and how you’ve helped us live out our “why”, by working with you to design yours, through gifts to organizations in our communities that mean even more people might be able to live their best lives. Our gift fund this year is supporting Covenant House and Gravenhurst Against Poverty. These community-focused charities provide resources ranging from food and shelter through mental health support – and so much more – for youth, children, and families who need it the most.

We wish you a wonderfully quiet end of December and hope you get to spend it however you like best. It’s been another long year, where your goals have been tested, your values have been tried, and uncertainty has ruled supreme. You deserve a break, a rest, or a party… whatever works best for you. We’re going to be doing the same, with the goal of returning to you in 2022 rested, invigorated, and ready to partner with you as you design your life, well spent.

Practice Notes:

We’ll all be back in the office on Tuesday, January 4th, sorting through our emails. We’re also spending some time together at the end of the month, at our annual retreat, reviewing the year that was 2021, learning from it, and planning for 2022. If you get an out-of-office reply to your email, just know that it’s because we’re engaged in finding even better ways to provide you with the advice and support you’ll need throughout the year.

For those of you eager to evaluate how the markets have done recently, we’ll be hosting another Quarterly Market Update with Darryl Brown on January 20th, 2022. Be sure to register early and send Darryl your questions for this in-demand presentation.

“Free” Fridays remain booked permanently in our calendars. These days are free to us at Spring in the sense that they are our opportunity to work on becoming better planners, whether through collaboration and discussion, education, research, or even a little down time. It’s been a regular practice since the summer of 2017, and we will continue to set aside the time to become better versions of ourselves every week. Even 1% better is solidly worth it, because we know that will be reflected in the work we do for you.

Spring in the News:

Most defined pension plans are based on years of service. If we take child care and maternity leave into account, women often work less than men but on average live longer. How do we reconcile these when supplying women with the necessary pension plans to retire and afford their cost of living? In this Globe and Mail article, Julia details her experience and her advice. Read more.

Rising inflation is a challenging topic for financial advisors and clients alike. With interest rates shifting dramatically and more consistently than ever, we’re needing to evaluate our spending habits. In this Globe and Mail article, Julia shares her point of view and offers some words of wisdom. Read more.

As new generations of investors are coming of age, they are forced to pay closer attention to fee structures and investment options. In this article, Julia outlines Spring Plans’ perspective on newer fee models. Subscribe to Globe & Mail to read more.

Planning News Digest:

In this article, find out how the CRA has chosen to change the CPP, RRSP and TFSA contribution amounts starting in 2022 and how this may affect you and your finances. Read more.

Feature from the Archives:

The world is full of boundaries and fences made up of piles and piles of the word “should”. When it comes to the surprisingly complex universe of cash flow and financial planning, we know you run into those “shoulds” on a daily basis. In fact, you may even be “should-ing” on yourself from time to time. We believe you have permission to design your life. Read more about our take on Design Thinking. 

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