5 questions you probably have about Brexit

OK Brexit is happening. Markets are tumbling. Is it time to start selling?

Short answer: no. The best advice is to ignore your portfolio for now and perhaps even consider making that early run to the cottage. The only exception might be for those investors who have cash and are in the mood to hunt for deals. Unless you’re heavily invested in Europe (and few Canadians are) then you really shouldn’t see much of long-term impact on your portfolio. Markets hate surprises, which is why global markets are almost universally in the red, but the selloff in North America is much more muted versus what’s happening across the Atlantic. Many of the European markets will end the day down between 7% and 12% (although London is only closed down about 3%). While BMO economist Jennifer Lee feels everyone should be concerned about what’s happening in financial markets, she says this isn’t a catastrophic event for Canadians.

How could this actually affect Canada? How could this affect me?

Am I going to catch a break on my European vacation this summer?

How else could this affect Canada?

So what should I do now?