When it comes to managing your finances and planning for the future, having a caring and reliable financial planner by your side is crucial.
Your financial planner should be more than just an investment selector. They should have your back when times get tough, regularly check-in with you, and understand important aspects like tax and estate planning.
As we head into the summer, we know that September will be here before we know it. And with that, many high school graduates will be heading off to post-secondary, and many parents and caregivers will be supporting them financially.
To no surprise, the cost of post-secondary education in Canada continues to rise.
What’s the Big Deal?
The news coming out of the USA that up to $10,000 of student debt was being eliminated for most students by the government has dominated the news these days as we once again approach the beginning of school.
And it’s no wonder why that’s such a big deal as post-secondary costs continue to rise not just in the USA, but right here in Canada.
With the current low mortgage rates, I am finding a lot of my members have the same question: should I try pay down my mortgage faster, or should I start/continue investing in my future? My answer is always the same: it depends! The reason I cannot give a definitive answer is due to the number of factors that make each of us unique. In this blog, I would like to share some of the factors I consider when giving advice to my members, and I am hoping I am able to help more people make the decision that is right for them.
Do you remember the good old days: $5 footlongs at Subway, Toonie Tuesdays at KFC or a BigMac extra value meal for less than $5? The price of these delicious meals long ago versus the prices now are examples of inflation. Sadly, this has drastically affected my fast food addiction. Unless you’ve been living in a cave, I’m sure you’ve noticed that hardly anything lately has been immune to these price hikes. In this blog, I am going to do my best to describe inflation, how it can hurt your future self and some options you have available to reduce its effects.
“An ounce of prevention is better than a pound of cure.” So said Benjamin Franklin, who didn’t have to live through 2020 and eat his way through 32 pounds of home-baked bread. But he was on to something. What he suggested was that we should deal with a problem by putting in a bit of time and planning upfront, instead of constantly ducking like we’re living in a real-life game of whack-a-mole.
Ben Franklin said, "Tell me and I forget. Teach me and I remember. Involve me and I learn." When I found that quote I realized something: it sums up PenFinancial’s wealth advising nicely, especially for young investors. We offer a personalized education to empower you and help you achieve your dreams.
The global pandemic has changed our lives. As we stay home and adjust our lives to suit our new physical and financial realities, many of us are wondering about our financial future. Every week I hear from Members asking important questions: What will happen to my investments? How can I plan for life after the COVID-19 crisis? The good news is you can plan for life after the pandemic.
As a kid, I thought that hitting a baseball would be easy. Until I tried to hit a curveball. I wanted that homerun. So I had to learn how to adapt to the ball that was thrown at me. Then I had to learn how to hit a fastball. With each pitch, I learned it wasn’t about just hitting a baseball, or avoiding being hit by that baseball! It was about hitting the baseballs I was thrown. And running the bases with all my heart.
The banking world is full of helpers and specialists. Member Services Representatives. Financial Services Specialists. Wealth Advisors. The list goes on. Who are these people and what do they do? Well, that depends where you go!
