Five Habits Draining Your Finances
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It’s a frustrating reality: you can earn a fantastic income and still feel like you’re living paycheque to paycheque. The truth is, you can’t out-earn bad spending habits. If you constantly say "yes” to the five things below, you’re likely on the fast track to financial insecurity–no matter how much money you pull in.
1. Saying "Yes” to Being the Family Bank
Helping out relatives when they’re struggling feels noble, but it can quickly sabotage your own financial plans. Lending to loved ones is often like tossing cash into...
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It Doesn’t Pay to Procrastinate
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Many people have no idea. Some people have a vague idea. A few people, a very few, have it all worked out. When it comes to retirement planning, many people do not take action until forced to by a mid-life event (career change, death of loved one) or by hearing about seniors running out of money.
It is strange that people find it so difficult to plan for their retirement. As all the basic financial books say, you start by recording your expenses, see where you can cut back, and then determine how much you need to save to achieve your retirement income goals. Yet, far too few Canadians take these presumably simple steps for their own financial success.
It is a weakness of human nature to put off ...
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Tax Planning for Severance Packages
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Over the past year, economic stresses worldwide have resulted in many employees receiving severance packages and being advised that their services are no longer required. The longer you’ve been employed with an organization, the higher your severance package will be. With the national job market experiencing varying levels of stress, it is more important than ever to hang on to as much money from an employment severance settlement as possible.
If you don’t plan ahead, the tax authorities have no problem relieving you of your extra money. A professional tax and investment advisor will run through the options with you and help you choose a strategy...
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A goal without a plan is just a wish.
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*Brian Kennedy and Keith Dunbar are not registered in any capacity with Worldsource Financial Management Inc. (WFM). WFM is responsible for mutual fund-related business activities conducted by its Registrants, and is not responsible for the business activities of other related or unrelated individuals and/or organizations. Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. Please read the fund facts and prospectus before investing. Mutual funds are not guaranteed or covered by the Canada Deposit Insurance Corporation (CDIC). For funds other than money market funds, unit values change frequently. For money market funds ,there can be no assurances that the fund will be able to maintain its net asset value per security at a constant amount or that the full amount of your investment in the fund will be returned to you. Past performance may not be repeated. The information in this email newsletter is general information only and is the opinion of the owners and writers. It is not intended to provide specific personalized advice including, without limitation, investment, financial, legal, accounting or tax advice. The information contained here may include estimates, projections and other "forward-looking statements." Actual events may differ substantially from those presented herein. We make no representation that future investment performance will conform to past performance and it should never be assumed that past performance foretells future performance. All information provided is believed to be accurate and reliable, however, we cannot guarantee its accuracy. Please consult an appropriate professional regarding your particular circumstances. Worldsource Financial Management Inc. will not be held liable for any inaccuracies in the information presented. Mutual Funds and Segregated Funds provided by the Fund Companies are offered through Worldsource Financial Management Inc. Additional products and services are provided by Dek Financial Group.
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DEK Financial Group
50 Coreslab Drive, Flamborough, ON L9H 0B2
Ph:(905) 536-5211
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