The Top 3 Scams Costing Canadians Millions
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If it feels like everyone you know has received a suspicious text or a weird phone call lately, you’re not imagining things. Fraud is booming in Canada. Back in 2020, Canadians lost around $165 million to scammers. Fast forward to 2025, and that number skyrocketed to a staggering $705 million.
Scammers are treating fraud like a full-time job, using sophisticated psychological tactics to trick even the savviest people.
Here is what you need to know about the top three financial traps...
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Financial Success Strategy for Small Business Owners
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Business owners have to contend with many facets of financial management, business accounting, cash-flow management, and capital acquisition. The one area of financial management that often goes unheeded or is placed on the back-burner is their personal financial strategy, yet it is the one aspect of a business owner’s financial picture that, if not soundly in place, could have the most serious unintended consequences for the business.
Unquestionably, business owners enjoy a greater opportunity to build wealth, but it does come at the cost of being able to navigate the complexities of managing different financial concepts related to integrated tax strategies, risk management, investment & retirement planning, business planning considerations and...
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How Much Will I Need to Retire?
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Good question. Many retirement income planning tools use a percentage of income to determine an income need in retirement and then calculate an amount needed to provide that income. People with similar incomes often have different spending and lifestyle habits. This can affect their income needs in retirement.
It is still important to calculate what the income needs will be in retirement. Arriving at the right percentage of income to replace may require a little more work.
Dean and Brenda are self employed and earn about $150,000 per year. As they are funding their own retirement with RRSPs, they can deduct their annual contributions from their income starting point as they will not be making RRSP deposits after...
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You’ve gotta dance like there’s nobody watching, Love like you’ll never be hurt, Sing like there’s nobody listening, And live like it’s heaven on earth.
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Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. Please read the 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 services provided through Fitzsimons Financial.
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Fitzsimons Financial
785 Wonderland Road S
Suite 251A, London, ON N6K 1M6
Ph:(519) 641-8019
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