COVID-19: How to weather the storm financially

This course is designed to help you deal with your personal finances so that you can weather the storm of COVID-19.

It will address how things have changed and how we’ll need to adapt to the new online environment including a section on how to use the meetings and webcast app called Zoom.


25 Jun 2020, 7:00 PM

2 CPD hours

$49

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Course Description

We’ll get into the importance of tracking your family’s spending including a demonstration of how to use a free tracking website called Mint.com.

We’ll also get into how to pay your bills on a reduced income. This will involve looking at options including using any savings and looking at the different types of debt options available. We’ll also look at how the credit reporting system works including how they determine your credit score, how to get your credit score and report free and the secrets to improving your credit score.

We will also look at how it affects your investments. We’ll discuss the different types of returns you can have as well as the importance of allocating your investments properly. We’ll look at how the stock market has done in Canada and the US going back up to 50 years compared to the risk-free benchmark of Guaranteed Investment Certificates or Certificates of Deposit.

We’ll also look at a range of different investment portfolios from conservative to risky and analyze how they have done during the most recent downturn. We’ll look at actual returns from different providers including a full-service human broker, a discount broker, a robo-adviser and a deposit broker because I have accounts with all of these options.

We’ll also look at how it impacts your retirement because many people will be forced to tap into their retirement savings. The course includes a free retirement projection spreadsheet called the Retirement Optimizer for both Canadians and Americans. I’ll go through an example illustrating the effect of declining income, reduced retirement savings values and likely suppressed future investment returns on our ability to retire.

The course will also address the state of the economy including a discussion of fiscal and monetary policy as well as a look at the most recent financial statements of the United States as well as Canada to see how prepared our countries are to bail us out.

We’ll also look at where interest rates have been over the past few years and where they are likely to go in the future.

In summary this course will give you all the information and tools you’ll need to take control of your personal finances in this unprecedented time.




Within 24 hours of the webinar, we will forward you an e-mail with instructions for accessing the live webinar.

We look forward to seeing you at our upcoming events.  Should you have any ideas for topics, speakers, sponsorship or anything else, feel free to contact Melanie Russell, CPA, CA, CBV, CIM, CFE, CFF, ABV at 416-488-9590 x 225.

Please note: For best audio quality, we recommend using external speakers or headphones. 

Course Walkthrough

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About the Instructor(s)

Picture of David Trahair
David Trahair

David Trahair, CPA, CA, is a personal finance writer, trainer, speaker and eLearning developer. His books include Smoke and Mirrors: Financial Myths That Will Ruin Your Retirement DreamsEnough Bull: How to Retire Well Without the Stock Market, Mutual Funds or Even an Investment AdvisorCrushing Debt: Why Canadians Should Drop Everything and Pay Off Debt, Cash Cows, Pigs and Jackpots: The Simplest Personal Finance Strategy Ever and his latest The Procrastinator’s Guide to Retirement: How You Can Retire in 10 Years or Less.  His views are totally independent because he does not sell any financial products. He currently operates his own personal finance training and eLearning development firm and offers seminars on his books to organizations including CPA provincial bodies across Canada. His website is www.trahair.com.


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