Has the outbreak of the Coronavirus and the crash of our oil industry left you wondering what to do with your finances? 

It may not be clear what to do during these difficult times, but turning to the advice of a licensed Financial Advisor can provide immense support and peace of mind. Whether you are in full panic mode over the decline in your investment portfolio, just starting to build your portfolio or maybe you want to start learning how to prepare for your future, heart centred Kardia Advisors have the knowledge. Hopefully, I will touch on some of these points below and if not, I look forward to hearing from you! 

It’s Not a Loss Yet- If you find that you’re stressed about your current financial situation and considering withdrawing your investments, DON’T! That’s a common reaction that people have during these times and history has shown that in time, these markets will rebound and replenish your portfolio. If you have long term investments with a proven track record, then consider waiting. Speak with your Financial Advisor to get up to date information and discuss the history of your current investments. 

Now is the Time to Buy- With a lot of markets sitting around a 20% loss YTD (Year-to-Date: meaning from the beginning of the fiscal year to now), now is the time to invest that old sock drawer money. If you see yourself as a sophisticated investor with professional guidance, then you may even want to consider a leverage strategy to take advantage of these low rates and discounted investments. Talk with your Financial Advisor if that is something that would fit into your risk profile.   

Strapped for Cash- Are you in the 46% of Canadians that are struggling to pay bills and have no idea where to begin? First off call your lenders, credit companies, and service providers and see how they can help you with payments. Lots of lenders and providers have been deferring payments and credit card companies have been dropping credit card rates up to 50% (19.99%-10.99%).  

The next step would be to take a good hard look at your financial picture. Start by building a Monthly Budget to see where you can save extra money each month. Restructuring your debt can help you save potentially thousands a month depending on your situation. Restructuring your debt could be as easy as using the equity in your house, lines of credit or loans to absorb high-interest credit card debt. Now we should have some extra cash flow!  

Let’s take that extra cash and start building an Emergency Fund. Many people are beginning to understand the importance of having a 3-6-month emergency fund since the arrival of these drastically unprecedented times.  

Calculate your total monthly expenses to make sure you have adequate funds saved. 

If you have additional questions that I didn’t answer above or I left you feeling more confused, please reach out to me and we can work together. My goal as an advisor is to help others learn and grow from this experience. 


Stay Safe and Healthy! 



Derek Macmillan 

Kardia Financial Advisor 

E: Derek@kardiafinancialadvisors.com 

Phone: 587-217-4169     



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