Optimism #54 - August 30, 2022

Dear clients and friends,

Summer is coming to a close and markets are temporarily dipping.

You own exceptionally high quality stuff in your portfolios, so this is just a temporary dip and maybe even a buying opportunity if you have extra cash.

Thank-you Keir for the link to the article in the New York Times about safe withdrawal rates.  It seems to mirror my thoughts that we need about 22$ for every dollar we wish to withdraw each year, assuming a 30-year time horizon.  (word version attached as well)

Advice for Handling Retiring During a Financial Downturn - The New York Times (nytimes.com)  

Attached as well is a super article by Tim Cestnick from the Globe and Mail this weekend about the new TFSA for first time home buyers. 

Please share with young persons you know who could benefit.  Word version attached.

I would like to update your balance sheets sometime this fall.  Please look at your calendars and tell Megan when your schedule permits.

Enjoy the last days of August.  The best thing about a market dip is the following rise in asset prices to new highs. Be patient.  It will come.

Derek Moran