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[music] >> Hello, I'm Greg Bonnell. Welcome to MoneyTalk Live, brought to you by TD Direct Investing. coming up on today's show, we'll be getting a trio of perspectives on some of the big personal finance questions that may face some Canadians. Nicole Ewing is going to discuss what to keep in mind when transferring a cottage. Mindi Bannick is going to take us through how you might want to approach estate planning when it comes to digital assets and then we are going to hear from Georgia Swan, what you want to keep in mind if you want to withdraw from an RRSP early. Plus in today's WebBroker education segment, Jason Hnatyk will take us through how you can use conditional orders on the platform. Before he gets all that, let's get you an update on the markets. We more indications out of the United States today of a very resilient labour market. We are going to dig into that a little bit deeper with Susan Prince in the next couple of minutes, but here is the market reaction. We'll start here on the side of the border. A 306.316 point deficit on the TSX Composite Index. Among the most actively traded names on the TSX at this hour is Cenovus Energy. Seeing a pullback in crude prices and attending energy stocks. At 2223, Cenovus down almost 3%. not many places to hide in this market today. Barrick Gold as well, we are seeing some pressure on the minors. At 2169, Barrick's down a little bit more than 2%. South of the border, stronger job market get you thinking about the rates and future path. But the S&P 500 down 51 points, a little bit more than a percent. The NASDAQ, traditionally these names have not like to the higher rate environment. A 181 point deficit to the NASDAQ, down 1 1/3%. Bank of America, want to get some of the big Wall Street name, it's under some selling pressure today. We've got BAC on the screen down 2.8% to 2826 and that is your market update. Well, we just saw the market reaction and to the resilient labour market in the US. Moneytalk's Susan Prince joins us now on the numbers on what we got today ahead of jobs Friday. Bit of a taste, perhaps. >> We've been looking at these trends and we talked about the PCE last week and now we've got a couple of pieces of employment data, the first being ADP employment change and what that looks like is how many new jobs are there. the consensus estimate was 235. The actual number was over 400,000. >>that's a beat to the upside. >> Absolutely. When you are looking at a trend,the previous month, it was 267,000. 267, 457, almost 100,000 new jobs. What does that say? Where the new jobs happening? The PCE indicated that where people were spending their money was on services and travel. Where using the gains in jobs? Leisure and hospitality. They took up about half of the new jobs. Lots of growth there. If you go tohotels, you are seeing new jobs there. An airline, jobs there. Construction, about 97,000 growing. Transportation and utilities also saw some strength. So where do we see the weakness in this? Because those are things you want to pay attention to as well. Manufacturing lost about 47,000 jobs. In the service sector, you're seeing some decline, IT, financial services, you are seeing some drops. those are things that people are paying attention to to say, okay, where the job opportunities, for one thing, but where are things beginning to pull back? And is that a canary in the coal mine for bigger issues? >> Of course, the Fed is going to look at numbers like this when they go into their rate decision meeting later this month. And maybe think that that threat that they've been sort of laying into, yeah, we pause last time but we think we need more hikes. This could be some ammunition. It look at the bond market reaction. The equity market reaction is down. Will this be a higher rate environment? The US 10 year is back up. Two years, five years, tens were all moving higher. It doesn't seem that we are done yet when it comes to central-bank action. >> Right. The central-bank paused last month. They said, we want to digest this information because sometimes there is a lag between policy decisions and how the economy really changes. It turns out that at that meeting, and we know this from the minutes that came out was there wasn't a lot of agreement about pausing i There were a number of the members of the committee and who felt that they should continue to increase rates at least by 2825 basis points at the last meeting. now with all this data, you're gonna have people at central banks doing the same thing that we are doing, what TD economists are doing, what people sitting at the coffee table are doing is talking about what does this all mean? Is this going to be, continue to be inflationary and to their need to be stops putting? Lots for people to chew on and digest with this data, FOMC included. >> Thanks for that, Susan. She's not going to go anywhere. She's going to join us later in the show and give us a preview of what to expect from the job support from Canada and the US before the bells. Right now, let's get you updated on the top stories in the world of business and take a look at how the markets are trading. Meta Platforms has officially launched Threads, with their calling a text-based conversation app. It is broadly being seen as a competitor to Twitter. The app went live Wednesday evening. I got a notification on my phone and I started checking it out. It is linked to the Instagram platform which has more than 2 billion users. Now, Meta did say about 10 million people signed up for Threads in the first several hours. The last Amazon indication, perhaps millions more have signed up since then. We've got for reporting nearly 10% year-over-year sales of for its second quarter with the F-Series trucks leading the way. The auto sector broadly has seen a rebound in sales compared to last year. Of course, we had supply chain issues constraining inventories last summer. In Ford's case, F150 sales were up 34% year-over-year and sales of the all electric F150 more than doubled. Bought some new home sales data out of the greater Toronto area. We saw transactions flow from May into June amid tight supply and that surprise rate hike we got from the bank of Canada on June 7. The regional real estate Board says the average price of a home eased month over month although both sales volumes and prices are higher compared to the same period last year. Of course, the Bank of Canada has another rate decision next week. A quick check in on the markets, we will start here at home on Bay Street with the TSX Composite Index. A 304 point deficit, down about 1 1/2%. Not a lot of green on the screen today. You have financials, materials, energy, the big three all underwater. An south of the border, as the market I just that information that Susan just laid out for us, you have a 48 point deficit, down a little bit more than 1% on the S&P 500. Summer weather of course means cottage season in Canada and if you own a vacation property, you may wonder what's the best way to eventually pass it on to your children. MoneyTalk's Anthony Okolie sat down with Nicole Ewing, director of tax and estate planning at TD Wealth, to discuss. >> We have people thinking aboutthe tax liability. It's something that's often missed and brought about and leads to not so great results. There is a huge tax bill potentially that could be coming on the death of an individual. if you purchased your cottage and you have owned it for a number of years, it's likely gone up significantly in value and on your debt, you are going to be deemed to have sold that at fair market valueand you will be responsible for capital gains tax on the difference between the cost base and the fair market value. The cost base includes the purchase price which is presumably much lower than it would be now. It also includes, hopefully you have Some receipts that your executor can use to add any significant additions that were done to the property to increase the cost base, but ultimately, you will be paying tax on the difference between the cost base and the fair market value, 50% of which is included in your tax bill and it can be quite significant. > So clearly passing on the cottage is more consultative than putting it on your will. people want less complication in their lives as much as possible. So would this approach accomplish that? >> It depends on your family circumstances and a whole bunch of other factors. But we need to be mindful that if we are selling the cottage to our children, we must do that at fair market value. if you sell it to a non-arm's length individual for less than market value it's the worst possible tax result because you will still be deemed for tax purposes to have sold it at the current fair market value and pay tax on the difference between your cost base and the current value, but your children who paid less than the fair market value are not going to get the benefit of that bumped up cost base. They will instead have to pay tax using your cost base. And so this is going to potentially result in double taxation and not paying tax on a single amount which is completely undesirable. >> That's a big difficulty. >> We want to avoid that is much as possible. So we look at the other options that might be available. You could sell the property outright and give the proceeds to your children. You could have them purchasing the property from you at fair market value and potentially taking back a promissory note in portion of that. You could potentially forgive that promissory note in your will which would allow for a bit of savings there and you could potentially, if you are selling it to your children, do that over a number of years, take advantage of the rule that allows you to spread your capital gains over a number of years and you would take a portion of the purchase price over that period of time and only be paying tax on the amount that you received in the air. So there's a number of strategies. We can also use trust depositing stems as another effective way of doing things but it will really depend on your personal circumstances. >> Now you mentioned trusts. What do people need to know about holding a cottage in a trust and any implications when you're passing down that trust, that cottage, to the next generation? Talk us through the advantages and disadvantages of the strategy. >> There are different types of trusts. The typical one that you would be thinking about is the family trust. You created during life, you transfer property into it for the benefit of other individuals. When you transfer the property into a trust, that is adeemed disposition for tax purposes. If I'm transferring my cottage into a trust today, I am paying that capital gains tax now. You might want to do that because it allows you to pay that tax and login and freeze that values that upon your death, you know exactly, you've already covered the bill. In the future again would go to the recipients of the trust. So that's one way of doing it. If you have, I would suggest, trips are great and that they allow you to outline the rights and responsibilities, you can put in their terms about usage or the requirement to enter into a more comprehensive coownership agreement, you can detail which rates people have. Are they able to pass it down to their children or have other people attending? You couldn't really work out all of the nitty-gritty details of owning the property and particularly where there are multiple individuals owning in, it can be very useful. The other type of trust that other people might be looking at it the alter ego or… It's available for people over 625. The contents of the cottage into the trust and have no immediate tax lability. This essentially flows through into the trust. And then the terms of that trust will allow you again to outline who the beneficiaries would be, it can act as a postnuptial agreement between spouses. it does avoid some possibilities having a will challenged. It gives you more certainty result. >> If you add kids as joint owners when you first get the cottage, does it make passing it down easier or more complex you might >> It really depends on what other document you put into place when you add your children as joint owners because there are rules in Canada about capital property. Essentially, you can have two different types of ownership: legal and beneficial. And when you own property with your children, the presumption is that was done for convenience purposes only to ease administration. Your children are actually, their name is on the title but they are not actually beneficial owners of this property. On your death, you will, your children will essentially be deemed to be holding that property in trust for your estate. So we haven't gotten, we haven't avoided any of the tax consequences, we haven't avoided any of the potential issues that can arise there as well. Really, we need to be thinking about the bigger picture, what other documents, if you had a very clearly that your children are, in fact, owners, beneficial owners, then you would only be responsible for the tax on the amount of the property that you owned but we really need to have documentation for that to make the CRA comfortable that this wasn't something that was… Not done properly. So we need to step back and think about it. There are also risks to doing that. You could potentially be exposed to creditors, to family law claims, your children could potentially want to sell their interest in it. So a lot of issues to consider. Again, making sure that you have thought all of those options through, you've had been to professional advice to be able to guide you through that will be very important. > See you can understand all the consequences, not just taxes. >> Exactly. There's always a trade-off. You can lower your taxes but something else that might make things more complicated. >> That was Nicole Ewing, director of tax and estate planning at TD Wealth. Now let's get to our educational segment of the day. there are types of orders on WebBroker that go beyond the typical buy and sell. Take us through how conditional orders work is Jason Natyk, Senior client education instructor with TD Direct Investing.great to see you. Let's talk about why an investor would consider using a conditional order. >> Always great to be here. Things are having me. Conditional orders are one of those order types that investors can use to give themselves additional flexibility when they are managing their portfolio. Whether or not you are very busy, you have vacation coming up, you don't have to leave your portfoliounattended, you can set up orders to take place when things meet certain thresholds. The second reason why relief you like these can be useful is when we are setting up a trading plan, when we are trying to maybe take the emotion out of a managing our portfolio, we can set up entry and exit signals. Let's jump into the platform and we can take a look at how these can be accomplished within the platform. On the screen, you can see where we've got all the different conditional orders that you have available. They are flexible and can be used in many ways. Today, we are going to focus on the one cancels other order. As the name says, it really lays it out. You have two separate orders that are placed at the same time. The first order that is billed will be executed as per usual and the second order is going to be cancelled so you are not at risk of having to orders filled on one particular position. So there are two scenarios that I like to walk everybody through. On the first I got a chart. On this chart, I got a chart on the SPY appear. We can consider that we already own shares in this particular ETF and the blue lines that you can have, the agency on these charts, these are the two orders, the one cancels other. The top order would be my profit-taking order where the stock or ETF gets up to here, it's going to sell and cancel the bottom order and allow me to move on with my profit. The second order that is here, we are all planning to make money but we want to prepare for things that go against us so we will have that second-order that we put below the order using a stop order. It will get triggered out. Once again, now we have our order bracketed. Regardless of which way the stock goes, we know that somebody is at the wheel and their two orders there to help you manage your position. I want to highlight one additional thing. I'm going to bring you to a watchlist. OCO orders don't need to be executed with the same security. 1 Common Way that investors will use in OCO, luscious say hypothetically, on my watchlist, I have two indexed ETF's. It may be of got a set amount of money that I'm looking to spend here. I can actually implement two separate by orders using limit prices on these ETFs. Whichever order fills first will cancel the second-order meaning that I'm not can overspend my balance and make sure that I'm taken care of in managing my portfolio in a responsible way. >> We understand now the rationale for the order. We put together a bit of a mock strategy around the security. How do you actually enter the one cancels other order in WebBroker? >> The order entry process is the easy part. That could also help remove some of the stress and emotion from the situation. Let's walk through that to show you just how easy that can be done. To get into the conditional orders here in WebBroker, there are two separate ways. I click on the trading tab at the top the screen and under the buy sell button, you will notice there is a strategies option. Alternatively you can always click on the buy sell button on the top right hand side of the screen and then you can bring yourself into the strategy section. You will recognize this graphic from earlier. Let's go through the process and choose our one cancels other. In this example, I will walk us through placing a profit loss protective order where we already own the share. Let's draw that up so we can see how easy it can be done. We will get our symbol into the system. In this case, we will be executing to sell orders for the 100 shares that we theoretically already own in our account. Our first order is going to be our limit order where we are taking our profit. You will notice that on the right it shows what the ETF is presently trading at. Maybe we think ambitiously and I will put an ambitious price in a $450. We have to make sure we set our good till dates to be identical on each side of the order. For this case, I'm going to choose good till cancel which works out to be 90 days for Canadian orders and 180 days for US orders. The next up is going to be clicking on the second portion of the OCO. Really no different than the first. Just entering the second order in. We need to get our symbol into the ticket and then we are going to go ahead and enter ourstop orders make sure the bottom side of our order is protected so we are only risking as much as we are comfortable with. In this case, I will put in for 25 and make sure I said that good till is the same date. You can send it through and you will be taking advantage of this very flexible order tool that you have available in my book. >> Great stuff as always. Thanks. >> My pleasure. >> Jason Hnatyk, Senior client education instructor at TD Direct Investing. And make sure to check out the learning centre in WebBroker for more educational videos, live, interactive master classes and upcoming webinars. It seems we are all spending more time online and as a result, we've got a variety of digital assets hanging around, from social media accounts, the email account since inscriptions. It's a lot and that's just to name a few. How do you make sure your digital life is properly taken care of when you are gone? MoneyTalk's Anthony Okolie put the question to Mindi Banach, tax and estate planner with TD Wealth. >> I'm so glad we're talking about this because I talked about this with every single one of my client. there are many reasons to look at this. you don't want your digital assets to be lost. Some might have sentimental value, like your social media accounts or digital photos.other things that have financial value associated with them, crypto currency, airline miles, credit card points. I find clients and overlook the digital assets as they own and if you are overlooking them, there is a high risk and danger that your loved ones or executor are also going to overlook those assets and a digital estate plan can help you ensurethat these assets are not going to be lost after your passing. Another reason to consider the digital estate plan is you want to have a plan in place for higher digital assets are going to be managed after blasting.so making sure that you are ensuring that anything with private or sensitive information will be protected. You may have certain personal and private digital photos that were only meant for one particular loved ones eyes. You would not want an unauthorized person to gain access to those photos after your passing and you can make sure that you are protecting those assets. and you want to make sure that there will not be any unintended consequencesif you digital legacy is managed in a way you did not intend. If you know in advance that your family and loved ones, they were to constantly be reminded of your passing by seeing your online social media presence, you may want to have a plan in place today that may indicate that your social media accounts should be deactivated and closed upon your passing. >>so clearly a plan is important. Knowing where to start isn't always easy. What are some steps people should consider when crating a plan for their digital assets? >> Each person needs to be proactive and take response ability for creating their own digital estate plan. While there are certainly a number of different steps to consider, I'm going to focus on three of them today. The first is you want to create a comprehensive and up-to-date list of all the digital assets that you own, but the sentimental assets and the assets that have associated financial value. it is unlikely that this step can be done by a professional because they can't know what you own and the digital universe. A second step, you want to have a plan in place to transfer access to your digital assets and when I refer to access, I'm referring to the login information and the password information. for example, if you own any big coins, that's an extreme example of a crypto currency account where if you do not share the password to that account, that money is potentially lost forever. A plan to ensure your transferring access to your loved ones is going to be important. Lastly, as 1/3 step, you want to provide very clear instructions for how your digital assets should be managed after passing. So for example again with your social media accounts, do you want those accounts to be deactivated and closed or, assuming it legally allowed, do you want to have someone else manage those accounts for you after passing? >> Should people consider putting their digital estate plan in a will? >> I wish that I could tell people that there is one Canadian law they can deal with all of your digital assets under one particular strategy. >> There isn't one? >> Unfortunately, no. That is the case with most advances in technology, the law is lagging behind. The important thing to understand when it comes to digital assets is that some of your digital assets cannot be transferred in your willbecause you don't in fact owned that digital asset. You may only own a license to use and access that digital asset and you're governed by the terms of service that you originally agreed to when you open the account. For example, you do not own your Facebook page. You merely own a license to use and access that page and you're governed by Facebook's terms and conditions agreement that you accepted when you open the account. there is typically a really long form that you have to scroll down to and click on. Most people, unfortunately, are not reading them but what that form is is essentially a terms of service agreement and you are agreeing to all this legal information and it could be that in that terms of service agreement is language that indicates ownership of a user's account and even more restrictive, termination upon a user's death. One of the most important things to consider, especially when you are creating that list of digital assets that you own is, what in fact you actually own? Do you own that digital asset? While certainly some instructions, it may make sense to include specific instructions in your will, that certainly not going to be the best strategy to deal with all of your digital assets. Again, certainly not for your sensitive and private information. He would never want to include your password information in your will because it is a public document. While some of your digital assets can be included in your will, not all of them should be included in your will. Best to speak to a professional. >> Should people be naming an executor as someone who can deal with their digital affairs, separate from their main executorwho carries at the typical duties? Should these to be separate? >> If there is someone who is better suited to deal with your assets more than your standard executor who is going to deal with the rest of your assets, then yes. you may want to consider appointing this person to deal with your digital affairs. That being said, you want to be very clear about the responsibilities that each person is going to be responsible for because any overlapping responsibility is going to lead to additional cost, confusion and/or litigation. >> You also mentioned that people should be proactive and take response ability when it comes to sorting out their digital afterlife. but since this process can be complex, who should people consider speaking to for guidance? >> There are a number of different types of people that you want to consider speaking to. With the speed that technology evolves, professionals can help you stay up-to-date with how many changes could impact you. They're probably for professionals or people in particular that you may want to consider speaking with. There is an estate planner who can help you draft a will and navigate your digital estate plan for you. The steps involved. The second is a financial advisor. They can help identify any digital assets that have financial value associated with thatand incorporated into your overall estate plan. The next is a technology expert. This could be a great resource for you to understand the technical aspects of your digital assets and how to manage those assets. And lastly, you want to speak to your trusted friends and family. Especially of these are people who are going to be managing your digital assets after passing. You want to make sure that everyone on the same page and that your wishes are going to be understood and respected. >> That was Mindi Banach, tax and estate planner with TD Wealth. Let's get you an update on the markets. we are having a look at TD's Advanced Dashboard, platform designed for active traders available through TDdirect investing. We are looking at the heat map function. We are screening by the TSX 60, we are screening by price and volume. this is a down day. Let's take a look at the energy space. We are seeing a pullback in crude prices. Stronger-than-expected jobs numbers, ADP numbers ahead of jobs Friday. Maybe the Fed is not done. Higher interest rates, do you break something along the way? A lot of questions for investors. You take a look at a name like Cenovus, CVE, or Suncor, both down fairly substantially on the day. You can see there is no relief in the financials either and neither in the materials. These are the big three. He take a look at the materials names and you can choose any of them. You can't tech under pressure today. You've also got Barrick Gold down to the tune of a little more than 2%. You may be noticing there is a little bit of green. You have to go down to the corner square, MD, that would be Magna. There seems to be positive sentiment around the name today. It's getting a bit of a bid. Some of the border, the S&P 100, telling us a similar story about top stocks being under pressure. Tesla taking up a lot of real estate in the middle of the screen. Meta is just barely hanging on, there Threads platform, a big competitor for Twitter, went live last night. but Microsoft, you gotta gain a little shy 1%. On a day like this if you are on the market, it's not much you're probably going to take it. You can find more information by going to TD.com/Advanced Dashboard. We know that life can throw you curveballs and in some cases you may find yourself in a position where you're contemplating wouldn't withdrawing funds from your RRSP. But pulling money out before retirement may not be the best financial move. Georgia Swan, tax and estate planner from TD Wealth talks to Anthony Okolie about this. >> Life can throw you so many curveballs, injury, illness,the loss of a job and so many other things, just the day-to-day requirements ofkeeping yourself and your kids fed and clothed. sometimes there's no other option but to pull money from your RRSP. I say this from no position of superiority because this is something I had to do quite a number of years ago to make ends meet. So I know what it feels likeand there is no shame in it whatsoever. >> Can you shed some light on the consequences of pulling your money out early from an RRSP? >> So RRSPs were originally created just to incentivized people to save for retirement. To take money out, the first thing you is that there is going to be a withholding tax. So you have to considerthat if you need a fixed amount of money it like $10,000, you might need to pull out more than that to hit that number. Then the money is going to be considered income so you will have to declare it on a tax return. As a result, you may end up in a higher tax bracket orbasically you will just have to pay more tax. As well, you will lose the ability to have the compounding that happens when you leave the money in your RRSP. On the problem with that is even a small amount taken out could end up having a significant effect on your overall savings over your lifetime because of that loss of compounding. >> Yeah, you taken that money out of your investments rather than staying invested in the markets. >> Yes. You also lose the contribution room. It's not like if you take it out, you can then regain the contribution room and put it back in. That's another thing that can affect your overall planning, financial planning. >> What are some of the steps we should be taking to avoid having to take money out of an RRSP early? >> It's an idea of doing all of that great planning that people tell us to do, so budgeting, making sure that, you know,you try to put aside three months, six months about of expenses that you have. And then looking to you it basically,if you are contemplating this, try to look at other options. Can you get a loan? Nah, of course, from credit cards and taking your cash butare there options for low-interest loans or something else that might help you should not have to go this route? >> You mentioned to get a loan if necessary, why might this be a potential option? >> Well, because I have less consequences, basically. Because as I said, there are a number of consequencesfor taking out of your RRSP but if you can get a loan, if you have some savings, such as a TFSA, it's much better to look to that. Of course, we are going to look at what the interest rate is and so forth, but as I said,your RRSP withdrawal should try to be a last resort. >> Okay, now you mention that life happens. What if you want to withdraw some of that money to buy, for example, a home or to pay for education? Are these scenarios little different? >> They are, because you have the right to essentially borrow from your RRSP to purchase a first home or for education old purposes. You don't have the same consequences if you do that correctly. >> If you are thinking of withdrawing money from your RRSP, would it be wise to speak first to a professional? >> Definitely. >> If you work with a financial planner or an investment advisor, please talk to them. If you don't, at least talk to your accountant and then go and to your financial institution because they may have some solutions for you that you may not have thought of.and it's always good to try to get that information before making your final decision. >> Tomorrow morning, before the markets open, we are going to get jobs data from both sides of the border. Moneytalk's Susan Prince joins us now with a preview. you have proper research to share. >> I do. And we might not glean anything more than you get out of your tea leaves but it's a starting point. The numbers were looking at tomorrow, we are looking at the Canadian Labour Force survey coming out andwhat we've been watching is in me, the Canadian unemployment rose from 5% to 5.2%. What we look for really those trends. So the number itself on its own is just a number. Where it becomes meaningful is what kind of trend it is. And all of that we've been paying more attention to because it rolls back to what do central bankers do based on the data? Another number that's coming out is the US employment report. And the consensus estimate for June is 3.6% unemployment in the United States. In me, it was 3.7%. All of this might've been, it's always an interesting number because we can learn from it about the economy overall. And just got a whole lot more interesting when we look at the ADP numbers on new jobs, which was almost double what was anticipated, just under 500,000. So what does that mean when you start to look at unemployment? and that will have an impact on what the Fed thinks about what the rates are going to do. This number typically is… Unemployment is not a primary number that the FOMC looks out when they're thinking about inflation but given all the data that they are looking at, this is certainly going to be important. Those in the numbers we are going to pay attention to tomorrow morning. >> We are starting to see some commentary out there. With this much resilience on the consumer and labour market, wondering if central banks have the power as they did in the past to tame inflation? There are very interesting dynamics in the market right now. People are thinking, at this point, with these aggressive rate hikes, should we be seeing more cracks? >> Yeah, typically that's what has happened in the past. keep in mind though that we have not seen steady inflation for a whole generation. so how we look at this information and how it gets adjusted and how certain trends and popular themes likehow economists look at inflation now and things they put in to stop it, as you say, it doesn't seem to be working this time. To me, sort of ironic that resilience is being considered a bad thing. Definitely right now it seems like good news that the American worker is making more. You are bringing more home but it's bad for markets. Sort of a bizarre upside down world situation. >> Yeah, that's what it feels like. >> My tea leaves are not telling me anything, Susan, so I appreciate that. >> Let's check back tomorrow. >> We will be back at noon to talk about what we are getting from those job supports in the morning.we are also going to bring you some of the best stuff from the week. On Monday, Colin Lynch is going to join us, the head of global real estate investments at TD Asset Management. You can get a head start on those questions. Email moneytalklive@td.com. That's all the time we have for today. Thanks for watching. See you tomorrow. [music]