Financial Resolutions for 2026
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Give your finances a boost this new year. Here is a list of financial resolutions to help you become better off by the end of the next twelve months:
Eliminate personal debt. – Brad and Angie had fallen into the very common habit of buying lots of ’stuff’ with their credit cards and soon were carrying a balance from month to month. At 19.9%, it is very expensive to live this kind of lifestyle. And any new purchases attract the same financing charge from date...
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Maximize Your RRSP Return Through Asset Location
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Do you know the real rate of return on your investments? Generally, Canadians measure the success of their investments based only on the rate of return. While it provides a good snapshot of whether an investment is doing well or not, it is not the only criterion for a true picture of success. A good portfolio is based not only on the return, but also by the tax implications of the investments.
Investors can optimize their real rate of return by utilizing effective asset location strategies to reduce tax exposure. Carefully dividing your investments between registered and non-registered portfolios will help to maximize your overall return. Keep in mind, investments inside your RRSP are tax deferred and a TFSA (Tax Free Savings Account) is not taxable. But everything outside of these investments will have a...
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Too Much Life at the End of the Money
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You have probably heard the phrase; too much month left at the end of the money. Paying for housing, groceries, fuel, utilities and various child rearing expenses, although very necessary, can put a huge strain on a family when outlays sometimes exceed your income. Fortunately, this is usually only a temporary hiccup in most people’s lives.
However, people aged 40-50 years are beginning to face new financial issues concerning not only their immediate family but also their parents. Yes, parents. Increasing life spans are forcing many Canadians in this age bracket to think more and more about the financial requirements of their parent’s retirement years. There is a growing likelihood than many of today’s seniors will eventually be struggling with the problem of an underfunded...
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Success is where preparation and opportunity meet.
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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 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.
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The Complete Wealth Management System
671G Market Hill, Vancouver, BC V5Z 4B5
Ph:(604) 839-2824
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