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Yesterday we had the pleasure of supporting the 2023 Barbara Rankin Golf Classic in support of Big Brothers Big Sisters of London and Area All proceeds from this event went towards matching more children and youth in our community with a mentor, and this is a win for us all! Amy (Mikula) Anderson Robert T. Anderson, CFP, RIS #finance #insurance #investing #ldnont

Yesterday, alongside Mona, Tim, and friends, we celebrated almost 4 years since Nathan’s Urban Farms first planted. Since then, so much has been achieved alongside The PATCH! Nathans Urban Farms has a new location at The Grove at Western Fair District. Nathan’s Urban Farm is a not-for-profit food security initiative dedicated to Nathan T. Deslippe, a young community connector who worked to make London a better place. #ldnont

Global equity markets experienced heavy volatility and ended the week lower. Sentiment soured based on relatively weak economic results and investor concerns that the U.S. Federal Reserve Board (“Fed”) may be waiting too long before lowering interest rates. The S&P/TSX Composite Index declined, seeing weakness in the Information Technology sector. U.S. equities posted a loss over the week. Yields on 10-year government bonds in Canada and the U.S. declined. Oil prices fell, while the price of gold advanced. Central banks in the spotlight Several central banks came into the spotlight, going in divergent directions amid different economic conditions in each respective economy. The Fed held its federal funds rate steady at a target range of 5.25%-5.50%. The Fed believes a restrictive rate is still needed but signalled its intention to begin lowering interest rates, which markets expect will be in September. In the U.K., the Bank of England lowered its key interest rate by 25 basis points to 5.25%, largely in response to slowing inflation and soft economic growth. The Bank of Japan (“BoJ”) went in the opposite direction, raising interest rates from a range of 0.00%-0.10% to 0.25%. This was the BoJ’s second rate increase in 2024 amid elevated inflationary pressures. By the end of the year, monetary policy in the U.S. and U.K. will be looser than at the beginning of the year, which could ease some pressure and help lift consumer and business activity. Canada’s economy expands in May Statistics Canada (“StatsCan”) reported that Canada’s gross domestic product (“GDP”) grew by 0.2% in May, outpacing the 0.1% growth economists had expected. This marked the third straight month of growth, benefiting from an uptick in utilities and construction sectors. Conversely, household spending pulled back in May with consumers grappling with tight financial conditions. Weaker consumer spending activity helped the Bank of Canada (“BoC”) decide to lower rates in June and July. StatsCan estimated that Canada’s economy grew by 0.1% in June, which points to an annualized growth of 2.2% over the second quarter. Still, the data points to an economy running below potential, which could keep the BoC on a path of cutting interest rates. U.S. labour market losing steam The U.S. economy added 114,000 jobs in July, well below the 179,00 job additions in June and economists’ expectations of 175,000 job additions. Job gains in the health care and transportation industries were partially offset by a decline in jobs in the educational services industry. The U.S. unemployment rate moved higher to 4.3% in July from 4.1% in June. This marked the highest jobless rate in the U.S. since October 2021. The weaker U.S. labour market report raised expectations of a potential rate cut from the Fed this year, perhaps as early as September. Weekly commentary – For the week ended August 2 courtesy CLIM.

🏌️♂️ Golf, food, and live music—what more could you ask for? Join us at the 36th Annual Barbara Rankin Golf Classic presented by Nash Family Wealth Management support local youth! ⛳ 📅 When: Friday, September 20, 2024 🕚 Time: 11 am registration, 12 pm shotgun start 📍 Where: Pine Knot Golf & Country Club 🔗https://lnkd.in/g69RaWfr

We have lowered our policy interest rate to 4.50%. Learn more: https://bit.ly/4c2SE6J #economy #cdnecon

Yesterday we were excited to support & participate in the SARI Therapeutic Riding Golf Tournament at Riverbend golf course. Despite the heat we had a lot of fun helping SARI to raise crucial funding needed to continue they great work they do in our community. #finance #insurance #investing #ldnont #sari #golf

🏌️♂️ Join Us for the 36th Annual Barbara Rankin Golf Classic presented by Nash Family Wealth Management! 🏌️♀️ 📅 When: Friday, September 20, 2024 🕚 Time: 11 am registration, 12 pm shotgun start 📍 Where: Pine Knot Golf & Country Club Enjoy lunch, 18 holes of golf, dinner, live music, and a chance to win prizes—all while supporting youth in our community! Grab your clubs and swing for a great cause! ⛳️ Register here: https://lnkd.in/gqWyseW4

Happy Father's Day to all the Dad's out there! 💙

The Bank of Canada announced today that it’s cutting its key interest rate by a quarter of a percentage point to 4.75 per cent. The rate cut is in line with the expectations of the majority of economists tracked by Bloomberg, and is the first cut since the central bank began its tightening cycle in March 2022. The Bank of Canada’s overnight lending rate had been set at five per cent since July of last year. April’s core inflation rate fell to 2.7 per cent, Statistics Canada reported last month. Curious what this might mean for you? Give a Maventure Broker/Agent a call today! #Maventure #MaventureMortgageCo #londonontario #ldnont #hydeparkldn #mortgage #mortgages #mortgagerates #mortgagetip #mortgageagent #mortgagebroker #mortgagespecialist #mortgageconsultant #realestate #firsttimehomebuyer #realestatemarket #financialneeds #realestateinvesting #househunting #justlisted Maventure Mortgage Co. FSRA #13556

The 2024 federal budget tabled by Finance Minister Chrystia Freeland on April 16 contained several proposals that will impact the financial, tax and estate plans of Canadians. The following is a summary of a few relevant budget proposals that may impact you. Capital gains inclusion rate Currently, the capital gains inclusion is 50%, where one-half of any capital gain is taxable, while the remaining 50% is tax free. Budget 2024 proposes to increase the capital gains inclusion rate from one-half to two-thirds for corporations and trusts. The same increase would apply to the portion of capital gains realized in the year that exceed $250,000 for individuals, for capital gains realized on or after June 25, 2024. The $250,000 threshold would effectively apply to capital gains realized by an individual, net of any current year capital losses, net capital losses from prior years (adjusted to reflect the value of the inclusion rate for the capital gains being offset), as well as capital gains in respect of which the Lifetime Capital Gains Exemption, proposed Employee Ownership Trust Exemption or the proposed Canadian Entrepreneurs’ Incentive is claimed. Planning point: it is important to note that selling a principal residence will continue to be exempt from capital gains taxes. Also, in situations where the higher capital gains inclusion rate may apply, there may be tax planning opportunities available to spread the capital gain over multiple years to stay within the $250,000 annual threshold. Home Buyers’ Plan The 2024 Federal Budget proposes to increase the Home Buyers’ Plan limit from $35,000 to $60,000, starting for withdrawals made after Budget Day. In addition, to further help recent and upcoming first-time home buyers, Budget 2024 proposes to allow Canadians who withdrew from their Home Buyers’ Plan between January 1, 2022, and December 31, 2025, to have their repayment grace period extended by three years. Planning point: With the new FHSA already helping many Canadians, and now the increased HBP limits, Canadians will have more opportunity to access funds for the purchase of their first home. Also, the temporary relief measures give first-time home buyers up to five years before they need to start repayments, so they can focus on their mortgage payments and getting ahead. Written by Mackenzie Tax and Estate Team #ldnont #finance #insurance #budget #investing #tax