Chris Hardy, PFA
100-1 Commissioners Road East London, ON, Canada

Did you know your CERB money is taxable? Are you monitoring your EI payments? For those of you that have claimed the Canadian Emergency Response Benefit please be aware that this amount will be taxable as income in 2020 tax year. Any amounts received will be added to any other income you make this year. ... How will this work? When you get paid from your employer they take the anticipated taxes owed and forward it to the government on your behalf. With the CERB you are receiving 100% of the benefit and will owe taxes on it at the end of the year. My recommendation would be to set aside at least 20% of this money. 20% is tax rate for Ontario residents having a taxable income between $13,230 - $44,740 this year (If are looking for other rates I'd be happy to share them with you). If you are receiving Employment Insurance (EI) during this time it is important to monitor your income. EI is taxable and deducted from your payment, however it is often taxed at a lower rate then what you need deducted, especially if you worked earlier in the year and return sometime this spring/summer. Be aware that there is also a maximum income and many rules if you have had any other claim in the past 10 years. If you're not sure what you should do let's chat and we'll figure it out. I would hate for anyone to run into the problem of a giant tax bill or repayment next year. There are lots of solutions and even ones where you can pay yourself vs. the government. No question is a dumb question. I'm happy to help.

BUSINESS AS UNUSUAL Here we are at four weeks working from home. A year ago who would have thought we'd be doing what we are doing today. As part of the financial world I can't stop working for my clients. Clients need access to their investments, help re-working financial plans, access to emergency funds and advice on making sure their families are best protected.... I've had ZOOM Virtual Meetings with many clients over the past few weeks. It's been great to connect and hear how everyone is dealing with the current situation. It also makes me feel good to see that my house isn't the only disaster zone with everyone at home. I heard a great piece of advice around online meetings - stop apologizing for the kids and dogs in the background - we're all in the same boat. I've opened new accounts remotely, changed beneficiaries, conducted investment reviews and even written insurance polices from afar. If one good thing comes of this it's that although face-to-face meetings are best in our industry, these new tools will allow us to better serve our clients moving forward. How about you? Do you have some questions about your investments, insurance coverage or financial plan? If you haven't heard from your advisor during this time perhaps it's time for a second opinion. Need help navigating government programs? Need a referral to another service? Just want to chat? I'm ready and willing at anytime - just shoot me a message and we'll connect. Stay Safe, Stay Home, Stay Strong

To all my amazing nurse and healthcare clients - 2019 HOOPP statements are out. Let me know if you need help figuring it all out or want to review your plan!

How is everyone doing? I'm currently reaching out to clients to ensure they are doing OK. If we haven't heard from us yet, we'll get to you. You're always welcome to reach out to us at anytime. We're hear to help with anything. There is a lot of information out there about government support programs, changes to deadlines around, tax, retirement savings, mortgages bill payments and especially EI sick benefits.... I have been following and researching these changes and opportunities for income support. Please feel free to reach out if you are having trouble understanding these programs or benefits or wonder what makes best sense for you. If you have family, friends or contacts that need help I'm always open for a chat whether you are a client or not I am ready to help. Feel free to share this post as you see appropriate. I will post more information as these measures are officially implemented by various levels of government. Sun Life is committed to helping Canadians stay healthy and happy during these challenging times.

The real challenge of the next decade: retirement dreams vs. reality Canadians are facing major challenges when it comes to saving for retirement, but you’re not alone. I can help you build a plan that you can feel confident about. Contact me today.

Here are some tips to help create your financial peace of mind. https://www.moneysense.ca//7-tax-tips-for-financial-peac/

I just returned from a two week medical mission in Nicaragua and El Salvador. This was my second time travelling here and each time I have come back with a profound acknowledgement that no matter what our situation is financially, health related or even socially that we all have so much to be thankful for. If we take time to realize how much good is in our lives we can be assured that more abundance will come our way.... The individuals in the impoverished communities I visited practice their thankfulness everyday and it is evident that more abundance is given to them each time I visit. We should all be grateful for all we have. We should not have fear of what might be. If we acknowledge our blessings more will follow.

I can help you better understand your financial picture today. Financial peace can be yours.

Have you ever wondered about how sensitive your portfolio is to various, Environmental, Social and Governance (ESG) concerns. I have many clients who are looking for funds that are working to limit investment or work with companies to improve the environment, health around the world and meet various social values. Let me show you some options today.... https://smartasset.com//what-is-socially-responsible-inves

This is the Sun Life.

There's no reason to be the richest man in the cemetery. You can't do any business from there. -- Colonel Sanders Let's talk about legacy planning today.... https://www.youtube.com/watch?v=DFMsmJE-pXg

They shall grow not old, as we that are left grow old: Age shall not weary them, nor the years condemn. At the going down of the sun ... and in the morning We will remember them. See more