Protecting your wealth

Protect Yourself with 8 Cybersecurity Tips

We have compiled 8 cybersecurity tips to help you better protect your personal financial information from fraud and identity theft.1

A September 2, 2020 article penned by Equifax Canada states that “The Canadian Anti-Fraud Centre (CAFC), the central agency tracking all types of fraud, estimates the cost of mass marketing fraud (i.e. fraud by phone, the Internet, mass mailings, television, radio, and personal contact) to be approaching $130 million reported by consumers annually, which represents approximately a 30% increase from 2017.”

1) Keep your personal and financial information private

We all know this, but sometimes we slip up. We’re in a hurry and forget to protect our interac or credit card password at the checkout, or we’re out with friends and accidentally let slip an often-used password within earshot of others. We’re human. But keeping your information safe is key. A quick task you can do right now is to only keep the ID you need on your person, leave your

  • social Insurance number card;
  • birth certificate;
  • and some of your 5 credit cards at home.

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Watermark Stone WealthProtect Yourself with 8 Cybersecurity Tips
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COVID-19 and Your Investments

You cannot turn on the media without hearing news of the Coronavirus. World markets have seen quite a bit of movement as fears of the virus spread. While we can’t specifically say when this volatility will end, we can tell you that the Watermark team excels at navigating clients through market turbulence. So, we’ve compiled 5 tips to help you steer through COVID-19 and your investments.

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Watermark Stone WealthCOVID-19 and Your Investments
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Watermark Stone Wealth is here for you

Watermark Stone Wealth is still here during these difficult times…

As we enter a new week of unknowns, we want you to know that the priority of your Watermark Stone Wealth team remains the same – committed to you as our valued client.

We are here to help and want to keep you informed of our plans to do just that.

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Watermark Stone WealthWatermark Stone Wealth is here for you
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Have you written your financial autobiography?

How will your life’s wealth story be told? A financial autobiography ensures that in life, in death, in life beyond death, you have a plan for your wealth so that your money lives longer than you. Here are 6 steps to create a plan that will allow your money to live on for generations.

1. Let your beneficiaries know that they’ll be receiving an inheritance.

Create an information package and share it with your loved ones. By having conversations years before there’s a critical need, you’ll ensure a smoother transition of your wealth to your heirs. What should you discuss? There is no right or wrong answer here. Topics will vary from family to family, including wills, location of important documents, even advance care planning and funeral and burial preferences. The idea is that you have a conversation that will allow your money to live on for generations.

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Watermark Stone WealthHave you written your financial autobiography?
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Managing savings when you are self-employed

Freedom is often a word associated with the self-employed, but being your own boss requires a lot of organization around your savings and retirement. We explore tips for managing savings when you are self-employed.

Small businesses account for 71% of the total labour force in Canada.1 That’s a lot of people who are experiencing the new normal workforce – no pension plan, no group RRSP, and no employer helping you manage your obligations back to CRA. As independent business owners, we live these issues every day. We can help you manage fluctuations in your income so you can sustain your lifestyle while also saving for retirement.

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Watermark Stone WealthManaging savings when you are self-employed
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4 key topics to cover every year

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Your financial plan is a living, breathing, document. As your life changes and you experience different life events and stages, it will need to be updated. We’ve outlined 4 key topics to cover every year with your advisor:

1. Am I on track?

There are two main portions of a financial plan; savings and growth. You are in charge of contributing the agreed upon amount of money to your investment accounts. Did you meet your savings goals? Your advisor is responsible for managing the investments in your accounts. When you put your plan together you agreed upon a rate of return you need in order to reach your goals. Did you reach your growth goal?
Review your plan. You may need to make changes when you:

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Watermark Stone Wealth4 key topics to cover every year
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Can someone actually steal your house?

Written by Charles Bristoll, Mortgage Broker

It might sound unbelievable, but it’s absolutely possible for someone to steal your house. It’s called title fraud, and it’s a problem that has been around for a while in Canada. And although exposure to title fraud is minimal compared to, say, debit or credit card fraud, the damage to its victims is considerably more severe.

Let’s break down title fraud, identify who is most at risk, and look at the best ways to protect yourself from having your house stolen out from under you!

What is title fraud?

Title fraud almost always starts with identity theft. When someone steals your identity, they actually become you (well not really, but as far as anyone who doesn’t know you is concerned, they are you). So once they become you, they are acting as you, the scope of the fraud starts with what you could carry out as normal business, and then grows from there with increased deception and elaborate plans. Here are some common scenarios:

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Watermark Stone WealthCan someone actually steal your house?
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The Retirement Plan Protector

You’ve created a financial plan, great! But what if life doesn’t happen as planned? One of the most effective contingency plans is Long Term Care Insurance.

At Watermark Stone Wealth we want our clients to have a pay cheque and a play cheque for beyond life expectancy. With proper planning this can be your reality. But, to paraphrase wise Robert Burns “the best-laid plans of mice and men often go awry”. That’s why we include contingencies in our planning. One of the most effective contingency plans is Long Term Care Insurance. Our Insurance Consultant, Sophie Moryoussef walks you through why contingencies matter.

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Watermark Stone WealthThe Retirement Plan Protector
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