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In reviewing the first quarter of 2015, financial markets in Canada and around the world had mainly positive results, as factors such as the easy monetary policy in major developed economies and moderate global growth continued to support asset prices.

In reviewing the first quarter of 2015, financial markets in Canada and around the world had mainly positive results, as factors such as the easy monetary policy in major developed economies and moderate global growth continued to support asset prices.

Getting Ready for Tax Season

Important Dates:

March 2, 2015 – 2014 RRSP contribution deadline.

March 2, 2015 – T5 filing deadline CI Corporate Class dividends declared and paid in 2014 are reported on a T5 “Statement of Investment Income”

Economists are expecting low prices to continue to have a negative effect on the Canadian economy, corporate profits and unemployment.  The result, according to TD Bank: A forecast for subpar growth of just 2 per cent in 2015 and 2016 – unchanged from an earlier forecast – with the unemployment rate rising to 7 per cent by the end of this year and hovering there for some time.<

The U.S. dollar has been on its longest consecutive rally in nearly two decades. It began to rise relative to other major currencies after hitting a record low in August 2011. There are likely two reasons for this new strength. First, the U.S. economy is now growing faster than most other developed countries.

The saving versus paying off debt is an age-old quandary that has plagued people since the advent of consumer debt. Pose this question to a group of financial planners and the responses will be split, roughly down the middle. While there might be as many advocates for savings as there would be for paying down debt, the broad consensus will likely be that it really depends on the situation.

On Wednesday, January 29th, Ben Bernanke disclosed his final act as the Fed Chairman as he announced a taper of liquidity from $85B to $75B, with an additional reduction of $10B beginning in early February. On February 1st, 2014 - Janet Yellen will take the seat as the first female Fed Chair.

RRSP contributions:

Mary Barra was named GM’s CEO this week and is the first woman to lead a major auto maker. Hugely qualified, she has been with GM since her start as an engineer in 1980. her father worked for GM as a tool and die maker. From humble beginnings to the top seat in the company is pretty impressive.

Another good month for stock markets in North America as the major averages are now up 3 months in a row.  The Dow was up +4%, S&P +3% and the NASDAQ +4% for the month of December.