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.

Retirement planning is more than just opening an RSP or contributing to a pension plan through your employer. There are life changes, tax implications, short term goals, current cash flow, risk tolerance questions, and much more to consider. Establishing a strong relationship with a financial planner can help you focus, keep you on track, and ensure that someone is equally invested in helping you achieve your retirement goals.

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.

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.

“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.

If your mortgage is coming due this year, you may be wondering how much of an impact the higher interest rates will have on your finances. 
 
While it’s true that your new mortgage rate may be higher than what you were paying before, it’s important to remember that there are ways to manage the higher payments and still maintain your overall financial goals. 
 
In this blog, let’s explore some steps you can take to overcome the potential of higher mortgage payments and make sure that you can still afford your mortgage and maintain your lifestyle as best as possible.

Remember back in the day? “But wait… there’s more! With only 10 easy payments of $19.99, you receive not one, but TWO snuggies!”

The idea of making small and easy payments after receiving an item was almost thought of as a bit of a joke or meme.

However, I recall a couple of years ago purchasing an iPhone on the Apple website. On the checkout page, I was surprised to see the option of paying it off in 4 equal monthly payments. No fees or interest, they said. Lately, I’ve started seeing this option on more and more websites: Wayfair, Amazon, Best Buy.

When it comes to personal finances, Canadians have a lot of choices. It can be overwhelming. While there are plenty of options to choose from, have you considered a credit union?

Welcome to your 30s! You’ll be spending less money on fun and more money on necessities. You’ll be spending less time with friends and more time at work. Your 30s are a time defined by one thing: change.