OCTOBER RESOURCES FOR OLDER ADULTS AND THEIR FAMILIES
Each month the WSAC team finds resources, tip sheets, guest blog posts, and more on topics we know seniors are interested in. The following is a summary of this month’s resources.
Guest Blog Post #01 – How to determine if an investment fund is right for you?
For many Canadian investors, investment funds are commonly used to build a diversified portfolio.
Diversification in investing means the act of spreading your investment risk across multiple companies and investment types. Investment funds like mutual funds and exchange-traded funds enable investors to pool their money together to invest in a basket of investments like stocks and bonds rather than having to buy each investment directly. To help investors learn more about a publicly available fund, fund issuers are required to provide a prospectus and a fund fact sheet on their websites, which are documents that outline important information about the fund and its managers.
While investment funds are a great way to gain exposure to a range of investments and can help mitigate investment risk, investors need to take the time to properly understand the information contained within the prospectus before buying in. Here are a few things to consider when determining if a fund is right for you.
Guest Blog Post #02 – ASC CHECKFIRST – Fraudster’s Playbook
Our friends from The Alberta Securities Commission (ASC) reveal the 7-step playbook fraudsters use. Get inside the mind of a scammer and stay safe.
How to protect your hard-earned money
Investing can be part of a healthy financial future, providing you with greater personal freedom, a healthy retirement, a sense of security or the ability to afford the things you want in life. Investment scam can jeopardize those goals, but there are ways that you can protect yourself.
Guest Blog Post #03 – International diversification: Does it belong in your investment portfolio?
Diversification is a cornerstone of a sound investment strategy. At its simplest, the concept is often likened to the adage “Don’t put all your eggs in one basket”. Investing in different types of assets (like stock, bonds, real estate, different industries, and geographic regions helps to reduce the overall risk of an investment portfolio. Most Canadian investors use investment funds to diversify their portfolios and mitigate investment risks. However, a June 2024 study by Vanguard highlighted a common bias among Canadian investors: a preference for domestic stocks, known as home bias.
Guest Blog Post #04 – Social Media Fraud
With more people than ever communicating and socializing online, the CAFC wants to help keep you safe from fraud on social media as part of Cybersecurity Awareness Month. From having your account compromised to falling for an investment fraud, these scams can be costly if you’re not vigilant.
In 2023, frauds associated to Social Media accounted for more than $171.7 million in reported losses. This bulletin will provide guidance on what to watch for and how to protect yourself.
