latest articles

Predicting Financial Events

Clients often call when markets are looking a bit shaky, or newspaper articles are predicting the next market correction, recession, bubble, etc.

The challenge with reacting to such events or news is that the external circumstances rarely have anything to do with your specific situation and plan. Your mission, should you choose to embrace it, is to build assets through savings and investment returns so that you reach your targeted savings value needed to support your lifestyle and cash flow needs in retirement.

Your Financial Dream Killer

Despite what many people think, the number one financial dream killer isn't portfolio losses, or financial emergencies, or unemployment, and not even natural disasters. The number one reason people fail to reach their financial goals is procrastination - putting off the inevitable until the cost of your dreams or goals become prohibitively expensive.

Buying and Selling the Business when an Owner Dies

Like many business owners, Rick and Warren thought it would be a simple process to continue the business when one of them died.

Nothing could be further from the truth.

Rick and Warren had a printing company and were equal partners. Warren died suddenly. Warren's shares passed to his widow, Sarah, who became Rick's new partner. She expected a regular paycheque to continue, even though she knew nothing about the printing business and could not contribute to the daily operations of the company.

Be Prepared For Emergencies & Opportunities

Randy worked for a small business. When the owner died suddenly, the business accounts were frozen and it took several weeks before they could be accessed to meet payroll. Randy had trouble meeting his financial obligations and had to find a new job.

Jane worked at a small company for many years. When the owner decided to retire, she offered to sell the business to Jane. As she didn't have the funds available, the business was sold to someone else. The new owner let Jane go shortly after taking over.

Pages

The information provided in these links is for general information purposes only. We provide these links to you only as a convenience and are not responsible for the information contained on these links. The inclusion of a link does not imply any endorsement or approval of the linked website, the third parties named therein or their products and services by Worldsource Financial Management Inc. By accessing any of the links provided you will be leaving our website. Access to any other website linked to this site is at your own risk and Worldsource Financial Management Inc. is not responsible for the availability, accuracy or reliability of any linked website or any link contained in a linked website.