November 2024

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Year End Tax Planning Ideas

The following are some ideas for individuals and business owners to reduce income taxes as 2024 draws to a close.


Individuals should consider doing their RRSP contributions before the RRSP rush in the first 60 days of 2025. You can get better values by buying today than when all the last minute procrastinators rush to buy their RRSPs in the New Year and temporarily push up market values.


Another idea is to remember to top up any RESP contributions to take advantage of the 20% educational grant before...

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Bad Excuses for Putting Off Investing

Recent college or university graduates with their first career job have an understandable itch to spend money after years of living on Kraft Dinner. The last thing they want to think about is saving money and building assets.


Yet this is the ideal time in life to start developing the correct habits that will lead to a comfortable lifestyle now and in the future. But what we often hear are the reasons why now is not the right time to get started. And you don’t even need to watch how you spend every penny!


Here are four bad excuses for not investing:


’I know people that lost money’


Yes, investing involves risk but so does driving a car. Yet we still drive our cars! The key is to learn from your mistakes and not to...

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Weighing the Cost of Your Retirement Dreams

We all know how easy it is to romanticize our retirement years. Many of us make lengthy lists of things we will do and experience in those golden years. We have little doubt about our ability to enjoy the perfect blend of leisure and excitement, which is what makes the very idea of retirement seem so priceless to so many of us. However, it would be a mistake to equate "priceless" with "cost-free!"


Those golden years might cost you more than you think. Are you prepared for those costs?


Here is the thing to remember: sound financial plans focus on the type of assets and retirement income you will need in order to maintain a certain lifestyle level once you stop working. If you have plans beyond simply living out your...

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Albert Einstein

Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. Please read the prospectus and/or Fund Fact Sheet 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 including financial planning services are provided through Paul Kramer.

Kramer Wealth Management
22 Cardinal Crescent Petawawa, ON K8H 3N9
Ph: (613) 401-4714