2023: A Year in Review at RaeLipskie

2023: A Year in Review at RaeLipskie

As 2023 draws to a close and we eagerly welcome everything the new year has to offer, we want to take a moment to reflect on the past year and showcase a few of our firm’s favourite highlights. Throughout the year, we have had the pleasure of working closely with our clients to offer professional investment management, sharing our monthly market commentary, and participating in group trips and other celebrations. Continue reading as we say our final goodbye to 2023 and prepare for an exciting new year. 

2023 was a rollercoaster ride for global markets, with unprecedented events impacting investments. RaeLipskie continued to demonstrate resilience in the face of this volatility, employing strategic risk management to protect and grow our client portfolios. Through proactive measures, RaeLipskie ensured its clients remained on a steady course amid unforeseen challenges. This included navigating the complexities of a shifting global economy by staying aware of international trends, allowing our clients to make informed decisions in an ever-changing economic landscape. Upon announcing RaeLipskie’s partnership with Guardian Capital in September 2022, we had the pleasure of reaching our one-year milestone after a successful and mutually rewarding first year together. In September 2022, Guardian Capital completed its acquisition of a 60% majority interest in The RaeLipskie Partnership. This acquisition increased Guardian’s assets under management in its Private Wealth segment by approximately $1 billion CAD and further extended its regional coverage in key markets. With a shared vision of enhancing client value, we look forward to a future of continued growth. Learn more about the partnership here.

Brian Lipskie, President and COO at RaeLipskie and George Mavroudis, President and CEO at Guardian Capital

The RaeLipskie team also spent some quality time away from the office together! We had the pleasure of volunteering at The Food Bank of Waterloo Region to assist with food sorting. The RaeLipskie Partnership sorted a total of 3,116 pounds of food! In the new year, we are eager to continue supporting our community through our involvement with local charitable organizations. 

Our team outings are some of our fondest memories of the year. One in particular was our trip to see the Toronto Blue Jays play! 

Left to right, top to bottom: Helen Snow, Laura Cornell, Heather Dewar, Becky Miller, Faulene McNanney, Rebecca Jackson, Laurie Orlik

As we reminisce over the past year, The RaeLipskie Partnership would also like to take this opportunity to thank our valued clients and stakeholders whose trust and partnership have been the cornerstone of our success. We look forward to having you alongside us as we enter into 2024. From everyone at RaeLipskie, we wish you a happy holiday season and an exciting new year ahead. Cheers! 

If you are interested in learning more about RaeLipskie’s services, book an appointment with one of our advisors today. Contact The RaeLipskie Partnership here.

If you would like to stay updated with RaeLipskie throughout the year, subscribe to our newsletter here by navigating to the bottom left of the page.

The Next Generation: Financial Literacy and Youth

The Next Generation: Financial Literacy and Youth

While financial literacy is a critical life skill that everyone should possess, it’s especially impactful for young people to have this knowledge when starting their adult life and creating a financial foundation for their future. Let’s discuss why financial literacy matters and the ways in which we can share our knowledge with the younger generation. 

Overall, financial literacy equips young people with the ability to make informed decisions regarding their finances. This includes decisions about budgeting, saving, investing, and managing debt. These skills are essential for everyday life, whether it’s paying for college, buying a car, or planning for retirement. 

Financial literacy also helps young adults avoid debt traps. It’s easy to access credit cards and loans, and while some debt may be necessary, it’s important to understand the consequences of over spending. Having financial knowledge allows young people to understand responsible use of credit cards and avoid accumulating high-interest debt. 

Understanding finances can also help build a strong foundation for the future. By learning financial skills at a young age, a mindset of responsibility and discipline can be developed, leading to financial stability and independence. Getting an early start can be especially helpful when considering saving for a first home, starting a family, or creating an emergency fund to manage unexpected expenses. 

There are multiple ways to teach youth about finances. 

  1. Start early: Introducing financial concepts by using age-appropriate activities and discussions make learning about money more relatable 
  2. Lead by example: Set a positive example by demonstrating responsible financial behavior.
  3. Use technology: Use financial apps and online resources to help simplify managing finances. 
  4. Allow for mistakes: Mistakes are valuable learning opportunities. Allowing for small financial mistakes can help guide youth in understanding the consequences. 
  5. Encourage saving and goal setting: This teaches the importance of delayed gratification and being able to plan for the future. 
  6. Provide real-life experiences: As young people grow older, involve them in family financial discussions and decisions. This firsthand experience can be a valuable teaching tool. 

Having financial literacy is not just a nice-to-have skill, it’s a must-have for building a secure future. Handing down financial knowledge to the younger generation can be a life changing resource. By helping youth start early, leading by example, and providing them with practical experiences, we can empower them to make responsible financial decisions and achieve their goals. 

To get more financial guidance, talk to one of RaeLipskie’s trusted advisors. To get started, contact us today!

Charitable giving: Enhancing financial well being through generosity

Charitable giving: Enhancing financial well being through generosity

In a world driven by consumerism and the pursuit of financial success, the act of charitable giving stands out as a powerful way to connect with our deeper humanity. When focusing on financial success and what that means to you, it’s important to consider that it may not be solely about accumulating wealth for oneself, but also about giving back. 

At its core, charitable giving is about extending a helping hand to those in need, and it comes in various forms such as monetary donations, volunteering, and contributing goods. While the priority of charitable giving should always center around the selfless desire to help people less fortunate, this blog will highlight the ways generosity can lead to a more meaningful life and financial satisfaction. 

1. Cultivating gratitude 

Firstly, charitable giving cultivates gratitude and encourages us to reflect on our own privileges. When we see the impact our contributions can have on those in need, it fosters gratitude for the things we have. This gratitude can alleviate financial stress by allowing us to prioritize spending on what truly matters. 

2. Strengthening social connections 

Another potential benefit of charitable giving is the opportunity to connect and engage with like-minded individuals or communities that share our values. These connections can be invaluable in both personal and professional aspects of life. 

3. Tax benefits 

In many countries, charitable donations are tax deductible. This means that when you give to a qualified charity, you can often reduce your taxable income, resulting in potential tax savings. While this should not be the sole motivation for giving, it can be a beneficial aspect for your financial plan.  

4. Legacy and longevity 

When establishing yourself financially, one of your goals may be to leave a lasting impression in one way or another. Charitable giving allows you to leave a lasting impact that extends beyond your immediate family. Your contributions can continue to make a difference even after you’re gone, leaving a positive legacy. 

Charitable giving is a powerful way to embrace financial well-being through generosity. You can find greater fulfillment and purpose in your own life by making a difference in the lives of others. By cultivating gratitude, strengthening your social connections, enjoying tax benefits, and being able to leave a lasting legacy, you can enhance both your financial and emotional wellbeing. 

Debunking Investing Myths

Debunking Investing Myths

Investing can be a powerful way to grow wealth over time, but with so much information available at our fingertips, misinformation about investing can spread quickly. We want to take a closer look at a few of these common misconceptions and provide you with the facts you need to make informed investment decisions. 

Myth 1: “Investing is only for wealthy people” 

Fact: Many people might think you need a substantial amount of money to begin investing, but that’s not true. Smaller, consistent contributions can significantly grow your investments. The key is to start early and focus on a long-term strategy over time.

Myth 2: “Timing the market guarantees success” 

Fact: Attempting to time the market by buying low and selling high is a strategy that even seasoned investors struggle with. It’s nearly impossible to predict short-term fluctuations. Instead, focus on long-term goals and historical performance data to inform your investment decisions. 

Myth 3: “Investing is essentially gambling” 

Fact: Investing and gambling are significantly different. The fundamentals of investing rely on thorough research, analysis, and a long-term approach. Gambling, on the other hand, relies on luck and chance without any control over outcomes. 

Myth 4: “Investing in individual stocks is the only way to be successful when investing” 

Fact: Individual stock investments are not the only way to be a successful investor. Exchange-Traded Funds (ETFs) and mutual funds are another option for investors who are looking to broaden their exposure without the complexity of selecting individual stocks. 

Myth 5: “You need to be a financial expert to invest” 

Fact: Having basic financial knowledge will be helpful when investing, but being an expert is not required. Investing can also be a learning experience that anyone can become more familiar with over time. Consulting with financial advisors can provide you with valuable guidance when you first start investing. 

Debunking these investing myths is important to ensure individuals understand the reality of investing and remove the stigma that investing is an exclusive opportunity. It’s not a get-rich-quick scheme but rather a strategic, steady-paced process that can help grow your financial assets over time. Being an informed investor will allow you to feel confident when making investment decisions. 

For more guidance with your investment strategy, talk to one of RaeLipskie’s trusted advisors. To get started, contact us today!

Legacy planning: Leave a lasting financial impact and ensure your family’s well being

Legacy planning: Leave a lasting financial impact and ensure your family’s well being

You’ve probably heard of estate planning – a term typically associated with high-net-worth individuals to describe the transfer of assets to loved ones following their passing. But have you heard of legacy planning?

Legacy planning is synonymous with estate planning, the main difference being that the name loses its prestigious stereotype, and it applies to everyone looking to leave their family with a lasting financial impact. 

Why is Legacy Planning Important?

Despite being a sometimes uncomfortable topic, planning for the financial legacy you leave behind will give you peace of mind. By working with a financial advisor on your legacy plan, you will be able to maximize what you leave behind through various strategies such as managing what will go towards taxes, and what will end up in the possession of your loved ones. Developing a legacy plan will also assist in creating a smooth transfer of wealth when the time comes.

Regardless of the dollar amounts associated with your assets, legacy planning is important in ensuring your assets have a lasting impact on the lives of your loved ones.

Where to Start

Planning for the legacy you leave behind can be an emotional and complex process, one that you don’t want to go alone. The first step in developing your legacy plan is to find a trusted financial advisor who can walk you through this process. 

Our team of advisors work alongside your financial goals, always helping pursue our client’s best interest. To create an estate plan, our advisors will ask you for the following: 

  1. What are all of your assets? This could include investment accounts, insurance policies, real estate, other physical belongings, and more.
  2. Who are you planning to pass on your assets to?
  3. Will a portion of your assets be donated to a registered charity or organization?

Based on your answers to the above, your RaeLipskie advisor will begin developing your unique legacy plan. 

To learn more about legacy planning and to discuss your options, talk to one of RaeLipskie’s trusted advisors. To get started, contact us today!

Top 10 Tips: All About the Stock Market – Building A Portfolio

Top 10 Tips: All About the Stock Market – Building A Portfolio

Whether you’re a seasoned veteran in investments, or just beginning to consider how to build your portfolio, we could all use a refresher on investing in the stock market. 

In today’s day and age, it’s imperative to be aware of what’s happening in the stock market with interest rates and inflation on the rise and the impending risk of a recession. For these reasons, investing in today’s markets can be intimidating for both new investors and experienced investors alike. 

In this month’s blog, we’ve provided a list of tips to give you new ideas or refresh your memory on some top tips for building your portfolio with confidence.

Top 10 Tips for Building Your Portfolio

  1. Set clear investment goals

    Having clear investment goals will provide you with direction and focus to your investment strategy. These goals will provide a framework to help you make informed investment decisions while also keeping you motivated and on track.

  2. Diversify your investments

    Diversifying your investments will help you build a resilient portfolio that minimizes risk where possible. By allocating funds to a variety of assets, if one takes a loss, the others will not be affected. This will allow you to have more security and confidence in your investments.

  3. Assess your risk tolerance

    Continuously assess your risk tolerance to understand the amount of risk you’re comfortable with. Higher-risk investments may offer a greater return but also carry an increase in potential losses.

  4. Determine your investment horizon

    An investment horizon is one of the key considerations when developing an investment portfolio. This can help determine which investment products are the most suitable for your personal situation. Typically, a short-term investment horizon requires a more conservative, low-risk approach, while a long-term investment horizon could allow you to introduce more risk considering there’s more time to recover if necessary.

  5. Conduct thorough research

    If you’re interested in investing in specific assets or markets, conduct thorough research that includes historical performance, industry trends, company fundamentals, and economic indicators to help you make informed decisions.

  6. Be mindful of current events

    Being informed of current events is a game-changer when it comes to investment decision-making. The stock market is a complex system that is affected by external factors beyond our control. The best way to prepare for these unexpected changes is to be mindful of the current events that could impact your current or future investments.

  7. Review your portfolio regularly

    While you want to avoid overanalyzing your portfolio, make sure you’re reviewing your portfolio regularly. Consistent portfolio management will help you to maintain your desired risk level and ensure you are continuously aligned with your investment goals.

  8. Consider dollar-cost averaging

    This strategy involves investing equal amounts of money at regular intervals. The potential benefit of this is that it can reduce the effects of price volatility and lower the average cost per share.

  9. Stay organized

    Building long-term financial success and a balanced portfolio takes time and patience.

  10. Seek professional advice

    Seeking professional advice from experienced financial advisors can give you the guidance you need when making investment decisions. Working with a private wealth management firm such as RaeLipskie can provide you with personalized recommendations that can help you reach your specific financial goals. 

To discuss your investments and potential investment opportunities, talk to one of RaeLipskie’s trusted advisors. To get started, contact us today!