Let’s face it – discussing estate planning with your parents might feel about as comfortable as watching a romantic movie scene with them. But unlike your teenage years, this conversation is one you definitely shouldn’t skip. After all, nobody wants to be caught in a messy family situation that could have been avoided with a few candid chats.
4 min read
Beyond the will: How to get your parents talking about their legacy
By PenFinancial Credit Union on Feb 27, 2025 11:32:37 AM
Topics: Financial Literacy Saving for the Future Financial Advice Estate Planning
3 min read
Surprise windfall? Here’s what to do when you receive an inheritance
By PenFinancial Credit Union on Feb 27, 2025 11:31:31 AM
So, your great-aunt Mabel left you an unexpected chunk of change. First off, our condolences – and congratulations? (It’s okay to feel both sad and excited – money emotions are complicated!)
Topics: Financial Literacy Saving for the Future Financial Advice Estate Planning
3 min read
Why you need a will or power of attorney (and how do they fit into an estate plan)
By PenFinancial Credit Union on Feb 27, 2025 11:28:20 AM
Let’s face it—talking about wills and powers of attorney (POA) isn’t exactly the most thrilling dinner table topic. But stick with us! Creating these essential documents isn’t just about creating paperwork; it’s about making sure your family doesn’t have to guess what you would have wanted while juggling life’s curveballs. Plus, wouldn’t you rather call the shots even if you’re not around to say, “I told you so”?
Topics: Financial Literacy Saving for the Future Financial Advice Estate Planning
4 min read
How to talk to your kids about… your estate plan
By PenFinancial Credit Union on Feb 27, 2025 11:27:21 AM
Talking to your kids, or other loved ones, about your estate plan may not be the easiest topic to bring up, but it’s an important step in preparing your family for the future. By being open and transparent, you can help your family understand your wishes, reduce confusion, and promote harmony when it comes time to manage your affairs.
Topics: Financial Literacy Saving for the Future Financial Advice Estate Planning
3 min read
Finding the right people to help you with your estate plan
By PenFinancial Credit Union on Feb 27, 2025 11:14:41 AM
Creating an estate plan involves working with several professionals to ensure your plan is legally sound, comprehensive, and tailored to your goals. Here’s who you may need to collaborate with:
Topics: Financial Literacy Saving for the Future Financial Advice Estate Planning
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
3 min read
RSP, TFSA, FHSA – Which Account Should I Use?
By Andrea Bove on May 20, 2024 12:35:14 PM
One of the first questions that potential investors often ask is which account should I use – Registered Retirement Savings Plans (RSP), Tax Free Savings Account (TFSA), or First Home Savings Account (FHSA)? All of these accounts offer benefits to investors and understanding the differences between them is the first step in making a choice.
Topics: Financial Literacy TFSA RRSP Financial Advice Investing Advice FHSA
3 min read
Do I really need to start saving for my child’s education this early?
By PenFinancial Credit Union on Apr 1, 2024 12:00:00 AM
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.
Topics: Financial Literacy RESP Financial Advice Financial Planning
4 min read
Should I pay off my mortgage or invest more?
By PenFinancial Credit Union on Apr 1, 2024 12:00:00 AM
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.