“Where am I going to find the next Airbnb or Uber? The next big investment opportunity?”
That’s the question I hear time and again in this recovering economy. Yes, the latest U.S. jobs report was underwhelming. The supply chain crisis has finally hit the world’s most valuable company: Apple. And inflation has even arrived in deflation-prone Japan.
But a recovery — choppy as it may be — is no doubt underway, at least in the corporate world. The global recovery after the 2008 financial crisis was uneven, but some of the hottest companies on the planet right now arose out of that era because they picked up on trends that would dominate the next decade.
“An unintended consequence of the housing crisis is that we created an entire generation of people who didn’t want to own things,” said Leah Bennett, president of Westwood Wealth Management. “That’s when Airbnb and Uber took off.”
So, what are the unintended consequences of Covid-19? Where do you invest?
We asked five veteran money managers about their best investment ideas for people who have $10,000 to put into the market right now in the latest edition of our quarterly “Where to Invest $10,000” series.
Russ Koesterich, a portfolio manager with BlackRock Global Allocation Fund, says that U.S. consumers are in the best shape they’ve been in decades.
Some experts think it’s time to push further into equities. One strategist has his eye on Asian stocks, whose valuations are already pricing in more potential bad news from the region. Another sees promise in Latin American equities, particularly those in Chile. Find out why.
And the next Uber? Bennett, of Westwood Wealth Management, has good feelings about commercial kitchens and restaurants. The space is rapidly moving toward automation and has been highly disrupted. Sound appetizing to you? — Charlie Wells
Asset managers are under increasing pressure to stop investing in companies that worsen the climate emergency through heavy carbon emissions. But recent events suggest that engaging with these companies beats disinvestment as a strategy to improve their environmental performance.
I’m in my mid-20s. Ever since graduating from undergrad, I’ve been thinking about pursuing a masters in either information systems or an MBA. For those of you who have a masters, was it worth going into debt for? Did you get a big enough pay increase? Did it open up more job opportunities for you? — Imani Porter, 25, Washington D.C.
Think of the Masters in Information Systems as a technical specialization and the MBA as a career versatility degree. If you love IT, then the best MIS programs provide high placement rates into a faster-than-average-growth sector, with average starting salaries of around $85,000. Given annual tuitions of $19,000-$25,000, the ROI on your one-to-two-year in this field is good. If you seek broader career options, then the most prestigious MBA programs offer high job placement rates, excellent average starting salaries above $150,000 (increasing 1%-7% annually), and a broader range of employers. Top MBAs cost much more than MIS degrees, roughly $100,000 annual total cost for a two-year degree – but high salaries mean top salary-to-debt ratios of two-to-one and thus good ROI. But keep in mind that getting into a top program and landing a high-paying job is no easy feat in any economy. — Paul Bodine, Founder & President, Admitify.com
Send us questions about your own financial dilemmas to bbgwealth@bloomberg.net.
Coming up
It’s a bumper week for bank earnings. Wells Fargo, Citigroup and Morgan Stanley report today. Goldman Sachs reports tomorrow.
The deadline for U.S. taxpayers who got an extension this year is Friday. Looking at you, Lisa.
That’s the same day the contactless card payment limit increases to 100 pounds ($137) in Britain.
TORONTO – Canada’s main stock index was up more than 250 points in late-morning trading, led by strength in the base metal and technology sectors, while U.S. stock markets also charged higher.
The S&P/TSX composite index was up 254.62 points at 23,847.22.
In New York, the Dow Jones industrial average was up 432.77 points at 41,935.87. The S&P 500 index was up 96.38 points at 5,714.64, while the Nasdaq composite was up 486.12 points at 18,059.42.
The Canadian dollar traded for 73.68 cents US compared with 73.58 cents US on Thursday.
The November crude oil contract was up 89 cents at US$70.77 per barrel and the October natural gas contract was down a penny at US2.27 per mmBTU.
The December gold contract was up US$9.40 at US$2,608.00 an ounce and the December copper contract was up four cents at US$4.33 a pound.
This report by The Canadian Press was first published Sept. 19, 2024.
Losing a loved one is never easy, and the legal steps that follow can add even more stress to an already difficult time.
For years, families in Vancouver (and Canada in general) have struggled with a complex probate process—filled with paperwork and legal challenges.
Thankfully, recent changes to Canada’s probate laws aim to make this process simpler and easier to navigate.
Let’s unearth how these updates can simplify the process for you and your family.
What is probate?
Probate might sound complicated, but it’s simply the legal process of settling someone’s estate after death.
Here’s how it works.
Validating the will. The court checks if the will is legal and valid.
Appointing an executor. If named in the will, the executor manages the estate. If not, the court appoints someone.
Settling debts and taxes. The executor (and you) pays debts and taxes before anything can be given.
Distributing the estate. Once everything is settled, the executor distributes the remaining assets according to the will or legal rules.
Probate ensures everything is done by the book, giving you peace of mind during a difficult time.
Recent Changes in Canadian Probate Laws
Several updates to probate law in the country are making the process smoother for you and your family.
Here’s a closer look at the fundamental changes that are making a real difference.
1) Virtual witnessing of wills
Now permanent in many provinces, including British Columbia, wills can be signed and witnessed remotely through video calls.
Such a change makes estate planning more accessible, especially for those in remote areas or with limited mobility.
2) Simplified process for small estates
Smaller estates, like those under 25,000 CAD in BC, now have a faster, simplified probate process.
Fewer forms and legal steps mean less hassle for families handling modest estates.
3) Substantial compliance for wills
Courts can now approve wills with minor errors if they reflect the person’s true intentions.
This update prevents unnecessary legal challenges and ensures the deceased’s wishes are respected.
These changes help make probate less stressful and more efficient for you and other families across Canada.
The Probate Process and You: The Role of a Probate Lawyer
(Image: Freepik.com)
Working with a probate lawyer in Vancouver can significantly simplify the probate process, especially given the city’s complex legal landscape.
Here’s how they can help.
Navigating the legal process
Probate lawyers ensure all legal steps are followed, preventing costly mistakes and ensuring the estate is managed properly.
Handling paperwork and deadlines
They manage all the paperwork and court deadlines, taking the burden off of you during this difficult time.
Resolving disputes
If conflicts arise, probate lawyers resolve them, avoiding legal battles.
Providing you peace of mind
With a probate lawyer’s expertise, you can trust that the estate is being handled efficiently and according to the law.
With a skilled probate lawyer, you can ensure the entire process is smooth and stress-free.
Why These Changes Matter
The updates to probate law make a big difference for Canadian families. Here’s why.
Less stress for you. Simplified processes mean you can focus on grieving, not paperwork.
Faster estate settlements. Estates are settled more quickly, so beneficiaries don’t face long delays.
Fewer disputes. Courts can now honor will with minor errors, reducing family conflicts.
Accessible for everyone. Virtual witnessing and easier rules for small estates make probate more accessible for everyone, no matter where you live.
With these changes, probate becomes smoother and more manageable for you and your family.
How to Prepare for the Probate Process
Even with the recent changes, being prepared makes probate smoother. Here are a few steps to help you prepare.
Create a will. Ensure a valid will is in place to avoid complications.
Choose an executor. Pick someone responsible for managing the estate and discuss their role with them.
Organize documents. Keep key financial and legal documents in one place for easy access.
Talk to your family. Have open conversations with your family to prevent future misunderstandings.
Get legal advice. Consult with a probate lawyer to ensure everything is legally sound and up-to-date.
These simple steps make the probate process easier for everyone involved.
Wrapping Up: Making Probate Easier in Vancouver
Recent updates in probate law are simplifying the process for families, from virtual witnessing to easier estate rules. These reforms are designed to ease the burden, helping you focus on what matters—grieving and respecting your dead loved ones’ final wishes.
Despite these changes, it’s best to consult a probate lawyer to ensure you can manage everything properly. Remember, they’re here to help you during this difficult time.
TORONTO – Canada’s main stock index was higher in late-morning trading, helped by strength in energy stocks, while U.S. stock markets also moved up.
The S&P/TSX composite index was up 34.91 points at 23,736.98.
In New York, the Dow Jones industrial average was up 178.05 points at 41,800.13. The S&P 500 index was up 28.38 points at 5,661.47, while the Nasdaq composite was up 133.17 points at 17,725.30.
The Canadian dollar traded for 73.56 cents US compared with 73.57 cents US on Monday.
The November crude oil contract was up 68 cents at US$69.70 per barrel and the October natural gas contract was up three cents at US$2.40 per mmBTU.
The December gold contract was down US$7.80 at US$2,601.10 an ounce and the December copper contract was up a penny at US$4.28 a pound.
This report by The Canadian Press was first published Sept. 17, 2024.
