Borrowing & Investing
Trevor Lagerwerf

Trevor Lagerwerf

Trevor is a Wealth Advisor at PenFinancial and Aviso Wealth serving the St. Catharines and Pelham communities. Trevor loves reading daily about all things financial and his passion is to help improve members’ lives by listening and providing solid, free advice. As a family Trevor and his wife and two young children, love to give back to the community that they’re so proud to call home. Mutual funds and other securities are offered through Aviso Wealth, a division of Aviso Financial Inc.

Recent posts by Trevor Lagerwerf

5 min read

Why is everything so expensive?

By Trevor Lagerwerf on Nov 18, 2024 12:23:58 PM

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.

Topics: Financial Literacy Personal Budget Financial Advice Financial Planning
14 min read

Decumulation: Should I start taking money out of my RRSP?

By Trevor Lagerwerf on Sep 10, 2024 12:00:00 AM

This is one of the questions that most investors find themselves asking once they have either ceased employment or are down to part time, or maybe even once a health event hits. As usual, there is no one size fits all solution to this question, but I want to shed some light on some of the underlying factors that go into the decision.

Topics: Financial Literacy RRSP Personal Budget Financial Advice Financial Planning
5 min read

What is an RRSP?

By Trevor Lagerwerf on Apr 1, 2024 12:00:00 AM

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 Advice
5 min read

Learning and becoming involved: How to be an empowered young investor

By Trevor Lagerwerf on Apr 1, 2024 12:00:00 AM

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.

Topics: Financial Literacy Personal Budget Financial Advice Financial Planning
3 min read

Investing 101: Explaining the magic

By Trevor Lagerwerf on Apr 1, 2024 12:00:00 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: TFSA RRSP Investing Advice Financial Planning
3 min read

RRSPs vs. TFSAs

By Trevor Lagerwerf on Apr 1, 2024 12:00:00 AM

From our previous blogs What is a TFSA, really? and What is an RRSP? you can learn both offer tax advantages to help you reach your savings goals.

Topics: Saving for the Future Retirement Planning TFSA RRSP
4 min read

What is a Tax-Free Savings Account, really?

By Trevor Lagerwerf on Apr 1, 2024 12:00:00 AM

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 they’re tax-free, the government keeps track of your contributions and the earnings you accrue on your investment. 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 Advice
3 min read

Curveballs and dreams: Investing in your pre-retirement years

By Trevor Lagerwerf on Apr 1, 2024 12:00:00 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 Advice Financial Planning
3 min read

Funding your child’s future: Canada Learning Bond

By Trevor Lagerwerf on Apr 1, 2024 12:00:00 AM

Saving for your children’s education can be tricky. For low-income families it can be even trickier. The Canadian government has a program to help those families: the Canada Learning Bond (CLB).

Topics: Saving for the Future RESP
4 min read

So, what exactly is a Wealth Advisor?

By Trevor Lagerwerf on Apr 1, 2024 12:00:00 AM

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!

Topics: Financial Advice Financial Planning