Reflections & Resources

As we step into 2025, now is the perfect time to review your financial goals and make sure your investments are aligned for success. Explore the advantages of portfolio rebalancing, tick off key items from your New Year’s financial checklist, and stay ahead with important deadlines like your RRSP contribution date. Plus, discover how strategies like spousal RRSPs can help maximize your retirement planning. Let’s make 2025 your most financially confident year yet

The final, and Thanksgiving shortened, week of the month salvaged what had been a dismal period for North American equity indexes. The S&P 500 and Dow eked out small gains but gains nonetheless after rising more than 3 percent last week. The TSX rose 4 percent in the last week and achieved another all-time high. In the four trading days last week, NASDAQ jumped nearly 5 percent but remained 1½ percent below its level from the end of October.

North American equity investors saw strong performance, especially those focused on the U.S. indexes.  Although the TSX moved up nearly one per cent, the American indexes moved up substantially more, with the NASDAQ delivering nearly five per cent. 

This performance came with an increase of uncertainty and volatility that spiked in the middle of the month.  Further evidence of the resultant flight-to-safety was the peak closing price for gold on October 20, when it reached $4,359 USD. 

Investors focused on equities and enjoyed spectacular performance over the last three months, including last month. From an economic news perspective, it was a relatively calm month. Conditions that had been in place continued their paths as indicators held their trajectory. Employment remained soft, inflation ticked upward, and central banks cut rates as a result.

As autumn settles in, it’s a perfect time to take stock of the year and prepare for what’s ahead. In this issue, we explore the bifurcation in investor sentiment—where AI-driven optimism meets cautious valuation concerns. We unpack how artificial intelligence is reshaping productivity and capital markets, and why today’s tech giants differ from past bubbles. You’ll also find timely insights on rising education costs, year-end tax planning strategies, and the importance of safeguarding estate documents. Whether you’re navigating market exuberance or planning for family and legacy, this season offers a chance to align your financial goals with clarity and purpose.