Eileen Kelly

It was a privilege to be apart of Cedric The Entertainer’s 11th annual charity golf event supporting the Boys and Girls Club of Camarillo and Kyles Family Foundation.

With the recent volatility in the markets, the media has been having a field day. Yesterday might have been the worst trading day in two years, but how quickly they forgot about how great the market has been doing! However, reporting on positive, is rarely something that is done. Historically speaking, there are 3-4 pullbacks a year, this is where we see the market drop, this is completely normal. This year up until yesterday, we have only seen one pullback, and although the experts were anticipating some volatility, it did not stop the media from causing worry. Further to this point, for the past ten years, the month of August has historically been down. However, despite this, the S&P 10 year return has averaged 15.6%.

This is a great webinar put on by our CIO, Larry Adam discussing the current state of our economy. One of the main predictors of investor success is not the stocks picked, but investor's behavior and their ability to turn their TV off when they feel worried and instead call their financial advisor.

https://www.raymondjames.com/investment-strategy-client-call

For those of you who pay into Social Security, here are a few benefits you can access prior to retirement.
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10 Social Security Benefits You Can Access at Any Age Social Security benefits aren't just for retirement! You can take advantage of these 10 perks before you ever hit retirement age.

Last year, there were many announcements for businesses that took effect as of January 1, 2024. These include:
- Changes to mandatory electronic filing thresholds
- Changes to electronic filing for GST/HST registrants
- New reporting requirements for trusts
To help you understand these and other changes, we've pulled together a quick reference tax tip that covers what you need to know.

Which announcement surprised you the most?

You’ve got questions and we’ve got answers - Canada.ca Here are answers to seven of the top business tax information questions

My beautiful mother and I. She never ceases to amaze and inspire me with her kindness, selflessness, generosity and her work ethic. She sets the bar high! ❤️ Rose Kelly

Canada is home to a large number of US citizens, and due to the unique aspect of the US tax system, these individuals will continue to be subject to US taxation rules, even if their only tie to the country is their nationality. This article will go over the specific matters that US citizen Canadian residents need to be aware of as it relates to owning a home in Canada.

US Citizens in Canada - Tax Implications of Owning a Canadian Home www.raymondjames.ca

With blended families on the rise, there are several unique considerations that should be reflected on while developing your estate plan. Don't forget to consult your legal professional.

1. Competing support obligations

2. Spousal property rights

3. Inconsistent legacy plans

4. Family conflict

Click the article to learn about the tools to help deal with estate planning for blended families.

https://www.raymondjamesconnect.com/adl_lF



https://www.raymondjamesconnect.com/adl_lF

Do you remember how to calculate the Pythagorean Theorem? Logarithms? or Polynomials? Great, neither do I. However, we did spend our younger years learning about these topics in great detail and never did we learn about important items that could help us in the real world such as the importance of investing!

I will be regularly sharing basic investment topics. If there is anything you would like to learn about, please let me know. Stay tuned!

IMPORTANT NEW CRA REQUIREMENT. Do you have a joint bank account or investment account with your parent?

This is in the past was seen as a more simple estate planning tool to transfer assets, a way to help your parents with managing their money, and a way ensure cash was on-hand immediately if they were to pass. CRA has come out with a new filing requirement. Please speak with your accountant to determine if you apply. Fines for neglecting to do proper reporting are looking to be at around $5,000.

Have you heard about this new reporting requirement?

https://www.raymondjamesconnect.com/aQrxXb

Year ✌🏽! Last year I started a women in business group with some incredibly brilliant gals. We had our first meeting of 2024 yesterday, and I left the meeting feeling inspired by all these hardworking professional women.

We are always happy to have new people join. If you're an entrepreneurial female professional, or someone who wants to be around a bunch of inspiring women. Please feel free to reach out!

Building and preserving wealth is a journey, not a destination. It is important to encompass what is most important to you when it comes to your investment plan.

Delivering Total Wealth Solutions at Raymond James. Learn more:

Total Wealth Solutions www.raymondjames.ca

With tax season approaching, here our some helpful tips from our tax team.

RJ Connect

🥁TOY DRIVE SUCCESS🥁!! Thank you for everyone's generosity who donated, we've collected an abundance of toys to spread smiles this holiday season. Your support will make a difference in brightening the holidays for many children. 🎁 🎄

For those of you are not familiar with Raymond James, here are some important highlights.
- $1.26 trillion in client assets worldwide.
- 143 consecutive quarters of profitability.
- 8,700 financial advisors world wide.
- Fortune 500 and listed on the S&P500
Most importantly, being an independent wealth management firm, we put our client's goals first. We do not have products we have to recommend, we look at your picture and determine solutions and recommendations based on your own individual financial picture.

Raymond James at a Glance www.raymondjames.ca

This Sunday December 17th from 1-3pm, I will be at Rhino coffee in Langford taking in toy donations for Santa's Anonymous. Your donations will be greatly appreciated. Let's make this holiday season extra special!

Eileen Kelly - Victoria, BC I am Eileen Kelly. I am a passionate and experienced female financial advisor with Raymond James. I have a deep commitment to helping individuals and families achieve their financial goals and I am dedicated to providing personalized and comprehensive financial guidance.

Tips to save money during the holidays, do you implement any of these?

Wow, BC bans short-term rentals. Has this impacted you at all?

Having a well-rounded investment portfolio is incredibly important, especially when we experience new legislation such as this. To avoid this scenario detailed in the article, ensuring you also have money diversified in an investment portfolio alongside real estate that will help supplement your retirement income is imperative.

I really feel for those impacted, I’m here to talk if you need. [email protected]

New rules for short‑term rentals in B.C. put investment and retirement plans into disarray www.timescolonist.com

Great news for the growth of our firm! Have you ever been named an executor, or understand how massive of a responsibility this role is? Did you know you can have a professional company be named as your executor of your estate and take a massive weight off of your family during a time of grief? This is highly recommended for parents of multiple children who wish to maintain peace and want to help your wishes come together as you would have wanted.

We are excited to announce the successful merger of Raymond James Trust Canada and Solus Trust Company Limited, creating Canada's largest independent trust company. Under the visionary leadership of Jennifer Hodgson, CEO of Raymond James Trust Canada, this powerful union creates a dynamic force, extending top-tier, unbiased trust and estate solutions to individuals and families nationwide. Stay tuned for more exciting updates as we embark on this transformative journey!

Raymond James Trust Canada and Solus Trust Company Limited. www.raymondjames.ca

To those who have a US retirement account and have moved back to Canada. Are you contemplating whether or not you should transfer your IRA to an RRSP? Here are 5 great reasons why you should work with a cross-border advisor and keep your IRA.

The Top 5 Reasons to Keep Your IRA Instead of Transferring to an RRSP www.rjlu.com

During times of volatility, it is often easy to become reactionary and worried. However, remember that your investment strategy is for the long term. Even if you are in retirement, unless you plan on liquidating your entire portfolio tomorrow, everything will be ok with time. Historically, the best days in the market always follow the worst.

🌟September is Life Insurance Awareness Month! 🌟

As we dive into this important month, let's take a moment to reflect on the importance of insurance. How often do you see Go Fund me pages? Sadly, more often than we would like. Life insurance helps prevent the need of using this service.

Life insurance helps protect the ones we love most. It ensures that our loved ones are provided for in times of need, offering financial stability and a safety net during life's unexpected twists and turns. As a financial advisor, I use life insurance to help protect my client's nest egg in a time of loss. It is there to help prevent a forced sale of your home or the liquidation of your investment portfolio.

Whether you're a young professional starting your career, a parent safeguarding your family's future, a new homeowner, or a retiree looking to leave a legacy, life insurance plays a crucial role in your financial plan. It's an act of love and responsibility that can't be understated.

During Life Insurance Awareness Month, let's act:

1️⃣ Review your current policy to ensure it aligns with your current needs.
2️⃣ Start a conversation with a trusted financial advisor to explore your options. Working with a financial advisor over an insurance salesperson enables you to be working with someone who is looking at your overall financial picture. You do not want to be eroding your retirement portfolio to high insurance premiums.
3️⃣ Do not rely on what your employer provides.

Let's make this September count by making informed decisions that provide lasting protection for those we hold dear.

Join us to gain some insight into the cross-border challenges that arise when
Canadians and Americans have connections to each other's jurisdiction, including assets,
citizenship, residency and beneficiaries.

Client Insights - Tips And Traps For Canada-U.S. Estate Planning And Administration raymondjames.zoom.us

Last week I had the pleasure of going to my old stomping grounds, Shaughnessy Golf & Country Club (our home club for college golf) to watch the CPKC Women's Open. I was beyond impressed with the amount of work that went into this event; it was truly world class.

For those of you wanting more information about the First Home Savings Account, find more information below! If you have any questions, feel free to reach out.

First Home Savings Account (FHSA) www.raymondjames.ca

Are you feeling the impacts of these high interest rates? It is an especially challenging time for those who have variable mortgages, but don't compound the pain by not taking advantage of the positives that come from this type of environment.

Right now because banks are lending out their money at high rates, they are also able to give their clients higher rates on money being saved or invested. Better yet, banks give Raymond James' clients preferred rates. If you have money sitting in cash not earning any interest, please do something.

Here if you have any questions:
[email protected]
250-405-2466

Do you know what the difference is between an advisor at your local bank branch and an advisor at an independent wealth management company? I get this question asked a lot, here are several reasons why having an independent advisor outside of your bank is highly recommended.

1. Independent advisors typically have more flexibility in their investment options and are not tied to promoting products solely from their institution. This can lead to more customized and unbiased financial advice tailored to your specific needs and goals. Instead of only having say a handful of options, independent advisors have thousands. This broader range of financial products and services, including those from different companies, can result in a more diversified and well-suited investment portfolio.

2. At the local bank, they cannot help with with individual stock or bond investments.

3. Independent advisors can shop around and find the best rates on GICs, bonds and high interest savings accounts. Not held to one institution.

4. Financial advising is our specialty, and what we spend day in and out focusing on in order to best serve our clients.

Were you aware of these reasons!?

Golf and investing part 2 of 4.

One time I was playing a golf tournament and I took an 11 on the first hole (par 4). For those of you who play golf, you know this is a very very terrible start. I could have gotten angry and frustrated, but I knew I still had 17 holes left and a lot of time to turn the day around. If I had let my emotions get the best of me, the day could have wound up very different. But instead, I finished even for the remainder of the round. There are really bad days in the market, but all we can do is be patient and know that better days are ahead.

Stay focused on your long-term goals.

As a female professional golfer who is a financial advisor, I have found many unexpected synergies between my two passions. I now find myself sharing golf analogies with my clients who share the same love for the game, and I thought it would be great to share them with you too!

On Monday I had the pleasure of being apart of the Raymond James Memorial Golf Tournament. In proper Vancouver fashion, it was very cold and wet. It was wonderful being able to merge my financial advisor life and professional golfer life for a day! However, it certainly showed that I am now only a fair weather golfer.

I had a wonderful time with fellow RJ colleagues and the tournament sponsors, it was great being apart of an event for such a meaningful cause.

On Monday, myself and Damian McGrath one of our senior trust advisors at Raymond James hosted an estate planning seminar at Berwick Royal Oak.

We covered important topics that included:
- The three types of important estate planning documents.
- Important considerations often overlooked: probate, estate taxes and appointing appropriate beneficiaries.
- Incapacity planning.
- How to choose an executor, and creating an awareness in regards with the massive responsibility and liability that comes with the role.

I think the last point was the most surprising for the audience! Are you surprised by this?