Wright Wealth Management of BMO Nesbitt Burns

There's a lot of chatter about the Great Wealth Transfer that's beginning. Boomers are passing on wealth they're accumulated, mostly in property and investments. From a logistics perspective, this obviously takes serious planning. But the biggest hurdle is the emotional one. Its hard to have conversations about money, and hard to have conversations about death. Combining them makes it even more uncomfortable. This is why all my clients are receiving a dedicated estate planning check-in this fall, with the option to proceed to a guided family meeting. These are essential conversations that aren't happening. But they're integral to preserving wealth that has taken a lifetime to build. What would a productive conversation about legacy look like for your family?

The panic may have been premature. The most salient point in this recent article from Doug Porter: "Our longstanding view has been that the inflation threat from the trade war was a tad overblown, for Canada and for the U.S., albeit for different reasons. For the States, its unrivalled market power means that the Administration is not fully offside for asserting that companies will ultimately eat some of the tariffs. For Canada, the two big drivers of potential trade war inflation have vapourized—the retaliatory tariffs, which weren’t that fierce to begin with, have been further declawed; and, the Canadian dollar is 3%-to-4% stronger than when the trade war first erupted, not weaker, even with its recent sag." “The Swan Song Remains the Same.” http://spr.ly/6008fIfD8

I've been fielding questions about how "Canada First" applies to investing, so last week I partnered with the North Shore News to share my two cents on the topic of home country bias, patriotic investing, and diversification. As usual, it helps to remove the emotion from the decision. Read my thoughts here: https://www.nsnews.com/sponsored/how-to-build-a-smarter-investing-strategy-through-global-diversification-11040138

Two-thirds (66%) of Millennials feel they had missed their homebuying moment – more than any other generation. More generally, 67% of Canadians are waiting for interest rates to drop before buying. As confidence declines and economic uncertainty grows, many are exploring options like co-buying or relocating. The Bank of Mom and Dad has resurfaced as a major factor in property ownership. Generational wealth and the associated planning is an essential and very tangible part of wealth management. Do you know how you plan to structure your estate? Do your beneficiaries know? Do you plan to make any major gifts to children or grandchildren? Now is the time to have these conversations. Learn more about Canadian homebuyers in the latest BMO Real Financial Progress Index: http://spr.ly/60494S2aR

Estate and tax planning is like using GPS for your wealth. Without it, your assets might take a costly, confusing route to your loved ones. With it, everything reaches the right place—efficiently, clearly, and with fewer detours.

I recently partnered with the North Shore News to share a little about my business, and give my two cents on how to navigate the effects world events have on the markets. Thank you, NSN. I'm always glad to work with my local news outlet. https://www.nsnews.com/sponsored/from-the-2008-market-crisis-to-covid-19-david-wright-helps-navigate-money-matters-10622148

On May 3rd and 4th I was proud to come out to support my wife and son who were running in BMO Vancouver Marathon events. Big thanks to all the BMO volunteers who made these races possible. The Kids Run around Lost Lagoon was particularly wonderful. And congratulations to all the runners! It was a perfect day for a tour through Stanley Park.