Wealth Insights—Winter 2024
— Scotia Wealth Management
Wealth Insights is designed to highlight Scotia Wealth Management’s integrated approach to wealth management by emphasizing the range of services we provide. All of which, of course, places your interests at the core of everything we do.
Welcome to the winter 2024 issue of Wealth Insights. In times of economic uncertainty, it is more important than ever to own high-quality investments and avoid timing the market. Accurately predicting short-term market movements is difficult and risky. Therefore, staying invested for the long term is a wise approach. Our outlook breaks down the challenges that investors face and why you should stick to your core investing principles. Fundamental shifts in the policy landscape, along with pent-up demand and high energy prices, have underpinned a surge in global electric vehicle sales. Our economics section makes a case for a “no-regrets” strategy that could be better for the economy, households’ pocketbooks and Canada’s climate goals down the road. Our podcast features a discussion with Andy Nasr, Chief Investment Officer at Scotia Wealth Management, who shares his insights on investing amid economic uncertainty, interest rates and inflation.
Canadian “snowbirds” are accustomed to spending winters in the United States. The first article in our Wealth Matters section examines how frequent visitors to the U.S. are at risk of being subject to the U.S. income tax system. Our second article features seven ways to give more effectively and how to become a more empowered and effective donor.
Market Outlook
The global economy and household consumption have remained resilient despite high interest rates, high inflation, economic uncertainty and a troubled geopolitical backdrop. However, economic weakness could emerge as consumer spending tailwinds begin to fade.
Economics
Electric vehicle demand: A luxury we cannot afford to squander
The race is on to build (and power) the vehicles of tomorrow. Fundamental shifts in the policy landscape, along with pent-up demand and high energy prices, have underpinned a surge in global EV sales. North American policymakers need to ratchet up regional collaboration. A “no-regrets” strategy could be better for the economy, for households’ pocketbooks and for Canada’s climate goals down the road.
Podcast
Navigating these ‘unusual times’ as an investor
When will interest rates and inflation settle? Is a recession coming? Is there a possibility of a soft landing, or maybe a softish landing? What is an investor to do when the future is so unclear? Andy Nasr, Chief Investment Officer at Scotia Wealth Management, sheds some light on how investors can best navigate these unusual times.
Wealth matters
U.S. tax planning considerations for Canadian snowbirds
To escape cold winters, Canadian snowbirds are accustomed to spending time in the United States. However, the U.S. and Canadian governments have an Entry/Exit Information System to track and share entry/exit data with one another. Find out how to ensure you remain compliant.
Seven ways to give more effectively
Being a thoughtful and engaged donor starts by aligning your annual charitable giving with your values and priorities. Learn how to become a more empowered and effective donor.