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A Cross-Border Perspective from 49th Parallel Wealth Management
As the days get longer and the scent of fresh blooms fills the air, many of us are inspired to open the windows, declutter the closets, and start anew. But there’s one area we often forget to refresh: our investment portfolio.
Just like your home, your finances can accumulate clutter over time old funds, unnecessary fees, or strategies that no longer serve your goals. Spring is the perfect season to step back and ask:
What’s still serving me? What’s collecting dust? And what’s holding me back?
At 49th Parallel Wealth Management, we help individuals living between Canada and the U.S. take a strategic, intentional approach to their money. Here’s how you can apply the spirit of spring cleaning to your portfolio. Whether you’re a cross-border retiree, expat, or simply looking for a fresh financial start.
Why Spring Is a Strategic Time to Review Your Investments
April and May mark a powerful transition financially and emotionally.
- Tax season just wrapped up. You now have a fresh look at your income, deductions, and investment gains or losses.
- The markets have moved. Whether you saw a correction, growth, or just some volatility, it’s wise to rebalance.
- Your goals may have evolved. New job? Retirement on the horizon? A move across the 49th? All of these warrant a portfolio refresh.
What to Keep: Smart, Strategic Components of a Strong Portfolio
Not everything needs to go! These are the pieces worth preserving and prioritizing:
1. Long-Term Goal-Aligned Investments
Do your holdings still align with your financial goals whether retirement, education, or cross-border living? If so, keep them in place.
2. Tax-Efficient Accounts
Accounts like the TFSA, Roth IRA, or tax-managed mutual funds are designed to help your money grow more efficiently over time. These are worth maximizing.
3. Low-Cost Diversified Funds
ETFs and index funds that provide broad exposure with minimal fees often serve as the backbone of a strong portfolio. If they’re performing well and fit your plan—hang onto them.
4. Currency-Conscious Holdings
If you live in one country and plan to retire in another, it’s crucial to consider currency exposure. Retain investments that hedge or reflect your future spending needs in CAD or USD.
What to Toss (Or At Least Reconsider)
1. High-Fee Mutual Funds
If a fund has consistently underperformed and is charging you more than 1.5–2%, it’s time to evaluate alternatives.
2. Redundant Holdings
You don’t need three funds tracking the same index or sector. This just adds complexity and can skew your risk profile.
3. Forgotten Accounts
Old 401(k)s, RRSPs, or employer stock options that haven’t been reviewed in years? Consolidating or re-evaluating these can make management far easier—and more effective.
4. Mismatched Allocation
If you’ve moved, changed careers, or are closer to retirement, your portfolio should reflect your current life—not the one you had five years ago.
Rebalancing: The Final Step in Spring Cleaning
Once you’ve identified what to keep and what to let go, don’t forget to rebalance. This helps realign your portfolio with your intended asset allocation especially after a volatile quarter or year.
Cross-border investors should also take this time to:
- Optimize for currency exposure based on future living expenses
- Adjust based on cross-border tax implications
- Revisit estate planning if you’ve changed countries or marital status
Time for a Fresh Perspective?
Just like cleaning out the attic feels great, streamlining your portfolio can bring clarity and confidence to your financial life.
At 49th Parallel Wealth Management, we specialize in cross-border financial planning and investment strategy. Whether you’re a snowbird heading south, a Canadian retiring abroad, or a U.S. citizen building a life in Canada, we help you manage the financial bridge.
Let’s dust off your portfolio and help it bloom again.
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From the Desert to the Tundra™, We are your Cross-Border Retirement Experts
