Daily Business Banking
4 min read

What should I do with my investments?

By Linda Larouche on May 7, 2020 12:25:34 PM

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.

Topics: Financial Advice Investing Financial Planning
3 min read

Responsible investing: Giving back and getting more

By Sarah Bujacz on Mar 12, 2020 2:10:58 PM

Have you heard of responsible investing (RI)? Maybe you’ve heard of socially responsible investing, or sustainable, impact, or ethical investing. They’re all the same great idea: a type of investing that aligns your values with your money to give back.

Topics: Investing Truly Local Commitment Social Responsibility
4 min read

What is an RRSP?

By Trevor Lagerwerf on Sep 25, 2019 5:25:25 PM

An RRSP (Registered Retirement Savings Plan) is a type of account you can use to defer income taxes until you retire, when you will theoretically have less income. Similarly to a TFSA, there are different types of investments you can direct your plan towards, including mutual funds and GICs. You are allowed to contribute 18% of your earned income such as salary, commission, bonuses and business income to your plan each year, up to an annual maximum determined by the Government. This contribution room accumulates if you don’t use it.

Topics: Retirement Planning RRSP Investing
4 min read

What is a Tax-Free Savings Account, really?

By Trevor Lagerwerf on Sep 17, 2019 3:16:50 PM

A Tax-Free Savings Account, or TFSA for short, is a registered account that was launched by the Federal Government in 2009 with the goal of helping you grow your savings without paying taxes on the interest or investment income you earn. Although its tax free, the government keeps track of your contributions and how much earnings you accrue on the investment. As Christian mentioned in the Banking in 60 Seconds video, it’s a bit of a deceiving name choice as there are many different investments you can hold inside a TFSA, aside from a savings account. You may hold as many TFSA contracts (or accounts) as you want, as long as you do not exceed the cumulative contribution limit. Let me break it down:

Topics: Saving for the Future TFSA Investing
3 min read

Living with your investments and yourself post-retirement

By Trevor Lagerwerf on May 26, 2019 5:19:50 PM

At PenFinancial, we know that retirement is both a goal and a destination. I meet many people that have planned for how to get to retirement, but have no idea what to do with their finances or their time when they get there. They struggle to answer when I ask what their plans are for retirement. Some say they’ll enjoy staying home every day. It may sound great for a while. Lounging in your robe and not having to deal with coworkers is great. But what happens when you start to go stir crazy? What happens when you want more from your retirement? Staying home every day isn’t as great when you don’t have enough money to do anything…or any idea of what you want to do.

Topics: Saving for the Future RRSP Investing Financial Planning
3 min read

Curveballs and dreams: Investing in your pre-retirement years

By Trevor Lagerwerf on Apr 25, 2019 10:16:07 AM

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.

Topics: Retirement Planning Financial Advice Investing Financial Planning
2 min read

Investing 101: Socially responsible investing

By Chris Heckley on Nov 2, 2016 6:22:13 PM

Investing:  [verb] confusing process involving magic and midwifery, in which your money is swept away today with the hopes of producing more money in the future. See related terms: dreams, confusion, fees, retirement, and future.

Topics: Investing Truly Local Commitment Social Responsibility
4 min read

Investment strategies: Empowering yourself

By Trevor Lagerwerf on Aug 9, 2016 11:52:50 AM

Investing: [verb] confusing process involving magic and midwifery, in which your money is swept away today with the hopes of producing more money in the future. See related terms: dreams, confusion, fees, retirement, and future.

Topics: Financial Advice Investing
3 min read

Investing 101: Explaining the magic

By Trevor Lagerwerf on Jul 26, 2016 4:40:29 PM

Investing: [verb] confusing process involving magic and midwifery, in which your money is swept away today with the hopes of producing more money in the future. See related terms: dreams, confusion, fees, retirement, and future.

Topics: TFSA RRSP Investing Financial Planning