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May 2019 Update

by | May 27, 2019

It has been an eventful month of May here at Spring, with tax season at an end and multiple statements, returns, and updates flowing in from all of you and your accountants.

We hope you are as invigorated as we are about all the planning that you can do now that you have your taxes tucked tidily in your past. Budget 2019, way back in March, gave us a lot to work within 2019, including shiny new benefits, credits for digital media subscriptions, home buying incentives, new kinds of annuities, and incentives to purchase electric vehicles. If you are done with your taxes and thinking about the year ahead, please do head back to our Federal Budget Summary to contemplate how you can make the balance of your year even more tax efficient.

If you don’t have your taxes filed just yet, don’t feel bad, but also please don’t delay! There are all kinds of fun benefits that come from filing your tax returns, such as refunds, carbon tax credits, Canada Child Benefits, and pension benefits. We are very happy to point you in the direction of a fabulous accountant if you’ve hit a wall. It’s not a moral failure to have missed the tax season, but it can saddle you with some unpleasant results. Reach out for help – there’s an entire industry built just to help you with that.

It is an absolutely fabulous time of year to take stock of your cash flow, as you’ve had more than a few months of 2019 to get used to whatever changes the new year has brought, and we’re still a month and a bit away from the height of summer when few of us really have time for that sort of thing. We’re delighted to have two cash flow planning experts, Kathryn and Karen, on our team and have built a new page on our website dedicated to this incredibly valuable service. If you’re struggling with debt, have variable business or personal cash flow, are trying to figure out how to pull savings out of the funds you are working with, or just need to know whether it makes sense to spend these dollars on that opportunity, our cash flow planning team knows just how to turn your personal financial ship in the right direction for you.

In addition to that fancy new cash flow page, we’ve got some great learnings for you, including Sandi’s Great Reads, how to apply design thinking to your investment portfolio, especially when you have fEeLiNgS about rocky markets and responsible investing, and a comprehensive article for business owners on disability planning to ensure your disability benefits aren’t compromised in the event you need to use them.

We are also proud and more than a little excited to share with you what we’ve been calling our MVVP – the Mission, Vision, Values, and Purpose that we articulated during our annual retreat. As our facilitator, Pam Schmidt, told us, we’ve always had our MVVP, we just had to spend a whole day putting the words in the right order. We hope some of them resonate with you as much as they resonate with us!

All the best to you for a fantastic June, from all of us!


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Julia Chung

Co-Founder, Sr. Financial Planner at Spring Financial Planning
With twenty years' experience in the financial services industry, education in personal and corporate finance, business and family law, cross border planning, family dynamics, insurance, risk management, operations management, and strategy, Julia is a powerhouse financial planner committed to simplifying complex ideas into concrete, practical application.
Julia Chung

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