February 2025

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True Costs of Financial Procrastination

Have you ever thought, "I’ll start saving next month" or "I’ll get serious about my financial strategy next year"? If so, you’re not alone.

Procrastination is something we’ve all been guilty of at some point. However, when it comes to your finances, the costs of waiting can be much higher than you think. Let’s explore three ways financial procrastination can quietly derail your dreams: buying a home, traveling the world, and enjoying a comfortable retirement.

Difficult House Transitions - Buying a home is a significant milestone, but financial procrastination can make the dream of homeownership feel like a distant mirage. If you delay...

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Insurance Essentials for Small Business Owners

Starting a small business often begins with a great idea and a desire to build something meaningful.

For many owners, their business isn’t just a source of income–it’s how they provide for their families. But here’s the thing: most small businesses rely heavily on the health, skills, and vision of the owner or a key employee. If something were to happen to that person, the impact on the business, employees, and their families could be devastating.

Unfortunately, many business owners focus so much on reinvesting in their businesses that they overlook a crucial part of their financial strategy–protection against the unexpected. Without a plan for contingencies like illness, injury, or even death...

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The Retirement Dilemma: Part 2

In retirement, most people aim for financial security–but rising costs can make that harder than expected. Let’s talk about it.

Many seniors prefer to invest in "safe" options, but here’s the reality: your expenses don’t stay the same. Costs like hydro bills, property taxes, and healthcare typically climb year after year. So, what’s the plan? Either spend less, dip deeper into your savings, or find a balance between the two.

The big challenge? Making sure you don’t outlive your money!

Tightening the Belt - Cutting back can help, but only to a point. Downsizing your...

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"Real change, enduring change, happens one step at a time.”

Ruth Bader Ginsburg

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 provided by the fund companies are offered through Worldsource Financial Management Inc. Insurance & segregated fund products are sold by Sherman Friesen personally and not through Worldsource Financial Management Inc.

The Complete Wealth Management System
671G Market Hill, Vancouver, BC V5Z 4B5
Ph:(604) 839-2824