WealthBeing: Recent Episodes
Island Savings - Valley First - Envision Financial - Enderby & District Financial | Divisions of First West Credit Union
Being in good financial health makes you feel at ease every day. You are free to pursue your goals and prepared to manage your future needs. Could your pocketbook be in better shape?
If life has thrown you a financial curve-ball, or if you just want to be more in control of your money, tune-in to WealthBeing. We diagnose a spending, saving, borrowing, investing, or other financial problem to provide simple advice that can help you thrive.You’ll hear about real-life financial challenges that our hosts, guests and members have encountered. We’ll share the time-tested financial solutions we recommend to members. And every week you’ll receive a simple strategy that you can use right away to improve your financial health.
In 2022, WealthBeing is bringing you conversations about what matters most when it comes to your finances. You'll hear new discussions of topics that will help you thrive, and updates to a few of conversations we're revisiting so that you can get our best advice when you need it. Our first new essential financial focus is all about the questions that our financial advisors want you to ask about in order to ensure that your money is working for you now and throughout the year.
*Get in touch with Travis and Kevin by emailing wealthbeing@firstwestcu.ca
Or connect with a financial advisor at any of our locations across BC:Envision Financial Valley FirstIsland Savings*Enderby & District Financial
WEALTHBEING HOSTS
Travis Koivula
Senior Wealth Advisor | Senior Investment Advisor
Island Savings Insurance Services | Credential Securities
Travis has been serving the financial needs of members in the Credit Union system since 2007 and is one of the most accredited financial advisors in Canada. He holds the globally recognized Charted Financial Analyst (CFA) designation, is a Certified Financial Planner, Canadian Investment Manager (CIM), Fellow of the Canadian Securities Institute (FSCI) and a Chartered Strategic Wealth Professional (CSWP).
Kevin Lehman
Regional Manager, Business Banking, Envision Financial
When asked who has made the biggest impact in your life, does your financial advisor come to mind? If you've met Envision Financial’s Regional Manager of Business Banking, Kevin Lehman, he's likely one of your personal game-changers. After attending the University of the Fraser Valley, Kevin’s search for new opportunities led him to Envision Financial and it is here that his "seize the day" approach to life propelled him to complete the Canadian Investment Funds Course, receive his mutual fund license and lead a team of business banking advisors to help local companies thrive.
In 2022, WealthBeing is bringing you conversations about what matters most when it comes to your finances. You'll hear new discussions of topics that will help you thrive, and updates to a few of conversations we're revisiting so that you can get our best advice when you need it. Our first new essential financial focus is all about the questions that our financial advisors want you to ask about in order to ensure that your money is working for you now and throughout the year.
*Get in touch with Travis, Sheena and Kevin by emailing wealthbeing@firstwestcu.ca
Or connect with a financial advisor at any of our locations across BC:Envision Financial Valley FirstIsland Savings*Enderby & District Financial
WEALTHBEING HOSTS
Travis Koivula
Senior Wealth Advisor | Senior Investment Advisor
Island Savings Insurance Services | Credential Securities
Travis has been serving the financial needs of members in the Credit Union system since 2007 and is one of the most accredited financial advisors in Canada. He holds the globally recognized Charted Financial Analyst (CFA) designation, is a Certified Financial Planner, Canadian Investment Manager (CIM), Fellow of the Canadian Securities Institute (FSCI) and a Chartered Strategic Wealth Professional (CSWP).
Sheena Sanders
Wealth Planning Specialist, Valley First
As an accredited Certified Financial Planner, a Registered Retirement Consultant and a Responsible Investment Specialist, Sheena's array of knowledge and experience means that no question goes unanswered and no opportunity ignored. For people who seek help with retirement, education, investment, and succession planning, Sheena is a natural person to have on their team.
Kevin Lehman
Regional Manager, Business Banking, Envision Financial
When asked who has made the biggest impact in your life, does your financial advisor come to mind? If you've met Envision Financial’s Regional Manager of Business Banking, Kevin Lehman, he's likely one of your personal game-changers. After attending the University of the Fraser Valley, Kevin’s search for new opportunities led him to Envision Financial and it is here that his "seize the day" approach to life propelled him to complete the Canadian Investment Funds Course, receive his mutual fund license and lead a team of business banking advisors to help local companies thrive.
THIS WEEK: When Travis' client was making final arrangements, he wanted to be sure that his estate would remain uncontested among his estranged children. This tricky situation is all too familiar to our co-hosts. Tune in to hear what advice they recommend to those facing a tough financial choice.
WealthBeing’s mini Money Problem episodes share a real financial challenge or question from our members, clients, or listeners – and the advice our experts provided to help. Learn from their experience and you’ll be prepared to make the best financial decisions for your pocketbook.
Do you have a Money Problem you’d like our help with? You can contact Kevin, Sheena and Travis with your question at wealthbeing@firstwestcu.ca. We will get back to you with an answer.
Or visit any of our Island Savings, Envision Financial, or Valley First locations to talk with an advisor who will provide personal financial advice.
OUR WEALTHBEING HOSTS
Travis Koivula
B.Eng, CFA, CFP®, CIM, FCSI, CIWM
Senior Wealth Advisor | Senior Investment Advisor
Island Savings Insurance Services | Credential Securities
Travis has been serving the financial needs of members in the Credit Union system since 2007 and is one of the most accredited financial advisors in Canada. He holds the globally recognized Charted Financial Analyst (CFA) designation, passing all three tests on his first attempt. In addition he is a Certified Financial Planner (top 1% of his class), Canadian Investment Manager (CIM), Fellow of the Canadian Securities Institute (FSCI) and a Chartered Strategic Wealth Professional (CSWP).
Sheena Sanders
Wealth Planning Specialist, Valley First
Sheena meets every client with a fervent desire to create a uniquely remarkable experience. As an accredited Certified Financial Planner, a Registered Retirement Consultant and a Responsible Investment Specialist, her array of knowledge and experience means that Sheena leave no question unanswered and no opportunity ignored. For people who seek help with retirement, education, investment, and succession planning, Sheena is a natural person to have on their team. Clients benefit from her strategic approach and “big picture” mindset that incorporates tax optimization ESG principals and integration.
Kevin Lehman
Assistant Branch Manager, Envision Financial
When asked who has made the biggest impact in your life, does your financial advisor come to mind? If you've met Envision Financial Assistant Branch Manager, Kevin Lehman, he's likely in your top five personal game-changers. After attending the University of the Fraser Valley, Kevin sought new opportunities that led him to begin his career with Envision Financial, a division of First West Credit Union. And it is here that his "seize the day" approach to life propelled him to complete the Canadian Investment Funds Course, receive his mutual fund license and join the management team within five years. Today, as Kevin continues to pursue his Personal Financial Planner designation, he coaches a team of advisors to make a lasting impression on people's wellbeing.
THIS WEEK: It's never a bad time to come into some money, right? It depends on who you ask and what you decide to do with it. Sheena shares the story of a client who was receiving a transfer of wealth and our hosts examine the options for both the giver and receiver.
WealthBeing’s mini Money Problem episodes share a real financial challenge or question from our members, clients, or listeners – and the advice our experts provided to help. Learn from their experience and you’ll be prepared to make the best financial decisions for your pocketbook.
Do you have a Money Problem you’d like our help with? You can contact Kevin, Sheena and Travis with your question at wealthbeing@firstwestcu.ca. We will get back to you with an answer.
Or visit any of our Island Savings, Envision Financial, or Valley First locations to talk with an advisor who will provide personal financial advice.
OUR WEALTHBEING HOSTS
Travis Koivula
B.Eng, CFA, CFP®, CIM, FCSI, CIWM
Senior Wealth Advisor | Senior Investment Advisor
Island Savings Insurance Services | Credential Securities
Travis has been serving the financial needs of members in the Credit Union system since 2007 and is one of the most accredited financial advisors in Canada. He holds the globally recognized Charted Financial Analyst (CFA) designation, passing all three tests on his first attempt. In addition he is a Certified Financial Planner (top 1% of his class), Canadian Investment Manager (CIM), Fellow of the Canadian Securities Institute (FSCI) and a Chartered Strategic Wealth Professional (CSWP).
Sheena Sanders
Wealth Planning Specialist, Valley First
Sheena meets every client with a fervent desire to create a uniquely remarkable experience. As an accredited Certified Financial Planner, a Registered Retirement Consultant and a Responsible Investment Specialist, her array of knowledge and experience means that Sheena leave no question unanswered and no opportunity ignored. For people who seek help with retirement, education, investment, and succession planning, Sheena is a natural person to have on their team. Clients benefit from her strategic approach and “big picture” mindset that incorporates tax optimization ESG principals and integration.
Kevin Lehman
Assistant Branch Manager, Envision Financial
When asked who has made the biggest impact in your life, does your financial advisor come to mind? If you've met Envision Financial Assistant Branch Manager, Kevin Lehman, he's likely in your top five personal game-changers. After attending the University of the Fraser Valley, Kevin sought new opportunities that led him to begin his career with Envision Financial, a division of First West Credit Union. And it is here that his "seize the day" approach to life propelled him to complete the Canadian Investment Funds Course, receive his mutual fund license and join the management team within five years. Today, as Kevin continues to pursue his Personal Financial Planner designation, he coaches a team of advisors to make a lasting impression on people's wellbeing.
They're always lurking behind the corner, waiting for the next upset or event to leap into the news and wreak havoc on our thinking about financial markets. Recessions are inevitable, and this week our co-hosts, Kevin, Sheena and Travis, are thrilled to chat with Mark Moreland, CFO at First West Credit Union, about why the markets can become so volatile, what you can do about it, and how our credit union reacts to make sure you stay financially healthy.
2:30 – Hot In Money: What is a wealth tax, and is it a good idea?
6:10 – Expert Examination:
- Where are we at today in the market?
- What a "recession" means economically the impact on our budgets.
- Why unexpected events (like the pandemic) are so impactful on market cycles
- How Government decisions and actions affect market trends.
- What happens after a recession
- How a financial institution like First West protects and support members' financial health during a recession.
40:00 – Financial Fix: Kevin shares one question to ask your advisor that will help you know if you're prepared to weather the next market correction.
If you have an undiagnosed financial concern or want to examine a financial subject, send Kevin, Sheena and Travis your question at wealthbeing@firstwestcu.ca, and we will consider it for a future episode.
WEALTHBEING HOSTS
Travis Koivula
Senior Wealth Advisor | Senior Investment Advisor
Island Savings Insurance Services | Credential Securities
Travis has been serving the financial needs of members in the Credit Union system since 2007 and is one of the most accredited financial advisors in Canada. He holds the globally recognized Charted Financial Analyst (CFA) designation, is a Certified Financial Planner, Canadian Investment Manager (CIM), Fellow of the Canadian Securities Institute (FSCI) and a Chartered Strategic Wealth Professional (CSWP).
Sheena Sanders
Wealth Planning Specialist, Valley First
As an accredited Certified Financial Planner, a Registered Retirement Consultant and a Responsible Investment Specialist, Sheena's array of knowledge and experience means that no question goes unanswered and no opportunity ignored. For people who seek help with retirement, education, investment, and succession planning, Sheena is a natural person to have on their team.
Kevin Lehman
Regional Manager, Business Banking, Envision Financial
When asked who has made the biggest impact in your life, does your financial advisor come to mind? If you've met Envision Financial’s Regional Manager of Business Banking, Kevin Lehman, he's likely one of your personal game-changers. After attending the University of the Fraser Valley, Kevin’s search for new opportunities led him to Envision Financial and it is here that his "seize the day" approach to life propelled him to complete the Canadian Investment Funds Course, receive his mutual fund license and lead a team of business banking advisors to help local companies thrive.
THIS WEEK: Sometimes we think of bankruptcy as cleaning the slate of our financial problems, but re-creating your financial health afterward isn't always straightforward. Listen to hear what happened for a member who needed Kevin's help to borrow after her bankruptcy.
WealthBeing’s mini Money Problem episodes share a real financial challenge or question from our members, clients, or listeners – and the advice our experts provided to help. Learn from their experience and you’ll be prepared to make the best financial decisions for your pocketbook.
Do you have a Money Problem you’d like our help with? You can contact Kevin, Sheena and Travis with your question at wealthbeing@firstwestcu.ca. We will get back to you with an answer.
Or visit any of our Island Savings, Envision Financial, or Valley First locations to talk with an advisor who will provide personal financial advice.
OUR WEALTHBEING HOSTS
Travis Koivula
B.Eng, CFA, CFP®, CIM, FCSI, CIWM
Senior Wealth Advisor | Senior Investment Advisor
Island Savings Insurance Services | Credential Securities
Travis has been serving the financial needs of members in the Credit Union system since 2007 and is one of the most accredited financial advisors in Canada. He holds the globally recognized Charted Financial Analyst (CFA) designation, passing all three tests on his first attempt. In addition he is a Certified Financial Planner (top 1% of his class), Canadian Investment Manager (CIM), Fellow of the Canadian Securities Institute (FSCI) and a Chartered Strategic Wealth Professional (CSWP).
Sheena Sanders
Wealth Planning Specialist, Valley First
Sheena meets every client with a fervent desire to create a uniquely remarkable experience. As an accredited Certified Financial Planner, a Registered Retirement Consultant and a Responsible Investment Specialist, her array of knowledge and experience means that Sheena leave no question unanswered and no opportunity ignored. For people who seek help with retirement, education, investment, and succession planning, Sheena is a natural person to have on their team. Clients benefit from her strategic approach and “big picture” mindset that incorporates tax optimization ESG principals and integration.
Kevin Lehman
Assistant Branch Manager, Envision Financial
When asked who has made the biggest impact in your life, does your financial advisor come to mind? If you've met Envision Financial Assistant Branch Manager, Kevin Lehman, he's likely in your top five personal game-changers. After attending the University of the Fraser Valley, Kevin sought new opportunities that led him to begin his career with Envision Financial, a division of First West Credit Union. And it is here that his "seize the day" approach to life propelled him to complete the Canadian Investment Funds Course, receive his mutual fund license and join the management team within five years. Today, as Kevin continues to pursue his Personal Financial Planner designation, he coaches a team of advisors to make a lasting impression on people's wellbeing.
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THIS WEEK: When new clients came to Travis for advice about how to lower their investment risk, they uncovered a potentially large tax hit for capital gains if they were to dump the undesirable investment - as well as impact on their Old Age Security. What should you do in this situation? Sheen and Kevin weigh-in on strategies to manage wealth decisions and Travis shares the options these clients had to choose from.
WealthBeing’s mini Money Problem episodes share a real financial challenge or question from our members, clients, or listeners – and the advice our experts provided to help. Learn from their experience and you’ll be prepared to make the best financial decisions for your pocketbook.
Do you have a Money Problem you’d like our help with? You can contact Kevin, Sheena and Travis with your question at wealthbeing@firstwestcu.ca. We will get back to you with an answer.
Or visit any of our Island Savings, Envision Financial, or Valley First locations to talk with an advisor who will provide personal financial advice.
OUR WEALTHBEING HOSTS
Travis Koivula
B.Eng, CFA, CFP®, CIM, FCSI, CIWM
Senior Wealth Advisor | Senior Investment Advisor
Island Savings Insurance Services | Credential Securities
Travis has been serving the financial needs of members in the Credit Union system since 2007 and is one of the most accredited financial advisors in Canada. He holds the globally recognized Charted Financial Analyst (CFA) designation, passing all three tests on his first attempt. In addition he is a Certified Financial Planner (top 1% of his class), Canadian Investment Manager (CIM), Fellow of the Canadian Securities Institute (FSCI) and a Chartered Strategic Wealth Professional (CSWP).
Sheena Sanders
Wealth Planning Specialist, Valley First
Sheena meets every client with a fervent desire to create a uniquely remarkable experience. As an accredited Certified Financial Planner, a Registered Retirement Consultant and a Responsible Investment Specialist, her array of knowledge and experience means that Sheena leave no question unanswered and no opportunity ignored. For people who seek help with retirement, education, investment, and succession planning, Sheena is a natural person to have on their team. Clients benefit from her strategic approach and “big picture” mindset that incorporates tax optimization ESG principals and integration.
Kevin Lehman
Assistant Branch Manager, Envision Financial
When asked who has made the biggest impact in your life, does your financial advisor come to mind? If you've met Envision Financial Assistant Branch Manager, Kevin Lehman, he's likely in your top five personal game-changers. After attending the University of the Fraser Valley, Kevin sought new opportunities that led him to begin his career with Envision Financial, a division of First West Credit Union. And it is here that his "seize the day" approach to life propelled him to complete the Canadian Investment Funds Course, receive his mutual fund license and join the management team within five years. Today, as Kevin continues to pursue his Personal Financial Planner designation, he coaches a team of advisors to make a lasting impression on people's wellbeing.
Is it possible that all those laps you ran and penalty shots you took have helped you manage your money? Even if you weren't team captain or even on the playing field, today's conversation with Dixon Ward, VP of the Okanagan Hockey Group and ex-NHL player, will have you thinking about using the lessons learned in sports to score big in your financial future.
3:20 – Hot In Money: Cryptocurrency is booming again - what do our co-hosts think about your investment potential?
6:55 – Expert Examination:
- How athletes think about practice and creating habits.
- The vital role of discipline on and off the field.
- Making it easier to make future-focused choices.
- Scoring goals in your bank account.
- The value of a great coach.
- Why it pays to diversity your strengths.
- The biggest financial challenge for athletes.
- How the Okanagan Hockey School is helping kids prepare for a life in - and beyond - sports.
41:15 – Financial Fix: Travis has a timely reminder that will help you save money when tax time comes around again.
If you have an undiagnosed financial concern or want to examine a financial subject, send Kevin, Sheena and Travis your question at wealthbeing@firstwestcu.ca, and we will consider it for a future episode.
WEALTHBEING HOSTS
Travis Koivula
Senior Wealth Advisor | Senior Investment Advisor
Island Savings Insurance Services | Credential Securities
Travis has been serving the financial needs of members in the Credit Union system since 2007 and is one of the most accredited financial advisors in Canada. He holds the globally recognized Charted Financial Analyst (CFA) designation, is a Certified Financial Planner, Canadian Investment Manager (CIM), Fellow of the Canadian Securities Institute (FSCI) and a Chartered Strategic Wealth Professional (CSWP).
Sheena Sanders
Wealth Planning Specialist, Valley First
As an accredited Certified Financial Planner, a Registered Retirement Consultant and a Responsible Investment Specialist, Sheena's array of knowledge and experience means that no question goes unanswered and no opportunity ignored. For people who seek help with retirement, education, investment, and succession planning, Sheena is a natural person to have on their team.
Kevin Lehman
Regional Manager, Business Banking, Envision Financial
When asked who has made the biggest impact in your life, does your financial advisor come to mind? If you've met Envision Financial’s Regional Manager of Business Banking, Kevin Lehman, he's likely one of your personal game-changers. After attending the University of the Fraser Valley, Kevin’s search for new opportunities led him to Envision Financial and it is here that his "seize the day" approach to life propelled him to complete the Canadian Investment Funds Course, receive his mutual fund license and lead a team of business banking advisors to help local companies thrive.
THIS WEEK: One of the most unexpected costs of buying a home for those new to BC recently cause a drastic change of purchase plans for an Okanagan family. Sheena had to create a new longer-term, lower-budget plan to get this dream home deal done. Find out what Travis and Kevin have done to help their members and clients in similar situations.
WealthBeing’s mini Money Problem episodes share a real financial challenge or question from our members, clients, or listeners – and the advice our experts provided to help. Learn from their experience and you’ll be prepared to make the best financial decisions for your pocketbook.
Do you have a Money Problem you’d like our help with? You can contact Kevin, Sheena and Travis with your question at wealthbeing@firstwestcu.ca. We will get back to you with an answer.
Or visit any of our Island Savings, Envision Financial, or Valley First locations to talk with an advisor who will provide personal financial advice.
OUR WEALTHBEING HOSTS
Travis Koivula
B.Eng, CFA, CFP®, CIM, FCSI, CIWM
Senior Wealth Advisor | Senior Investment Advisor
Island Savings Insurance Services | Credential Securities
Travis has been serving the financial needs of members in the Credit Union system since 2007 and is one of the most accredited financial advisors in Canada. He holds the globally recognized Charted Financial Analyst (CFA) designation, passing all three tests on his first attempt. In addition he is a Certified Financial Planner (top 1% of his class), Canadian Investment Manager (CIM), Fellow of the Canadian Securities Institute (FSCI) and a Chartered Strategic Wealth Professional (CSWP).
Sheena Sanders
Wealth Planning Specialist, Valley First
Sheena meets every client with a fervent desire to create a uniquely remarkable experience. As an accredited Certified Financial Planner, a Registered Retirement Consultant and a Responsible Investment Specialist, her array of knowledge and experience means that Sheena leave no question unanswered and no opportunity ignored. For people who seek help with retirement, education, investment, and succession planning, Sheena is a natural person to have on their team. Clients benefit from her strategic approach and “big picture” mindset that incorporates tax optimization ESG principals and integration.
Kevin Lehman
Assistant Branch Manager, Envision Financial
When asked who has made the biggest impact in your life, does your financial advisor come to mind? If you've met Envision Financial Assistant Branch Manager, Kevin Lehman, he's likely in your top five personal game-changers. After attending the University of the Fraser Valley, Kevin sought new opportunities that led him to begin his career with Envision Financial, a division of First West Credit Union. And it is here that his "seize the day" approach to life propelled him to complete the Canadian Investment Funds Course, receive his mutual fund license and join the management team within five years. Today, as Kevin continues to pursue his Personal Financial Planner designation, he coaches a team of advisors to make a lasting impression on people's wellbeing.
We've all heard the story of someone who cashed in their home equity for a large sum of money - but how wise is that decision for you? Maybe you've already gotten into the cycle and need some advice to juggle your payments. We're excited this week to have Brad Piercey, VP of Corporate Credit at First West Credit Union, join your WealthBeing™ co-hosts for a conversation about the good, bad and risky ways to use home equity as part of your financial plan.
2:50 – Hot In Money: how the recent changes to the mortgage stress test are affecting retirees .
6:05 – Expert Examination:
- Understanding home equity compared to other lending against your property.
- What's required to borrow against your home.
- The reasons people take a home equity loan.
- What financial risks you could face by using home equity.
- How your financial advisor will help you decide if home equity is your best option.
41:25 – Financial Fix: Sheena suggests you wave a magic wand and reflect on how you think about managing debt.
If you have an undiagnosed financial concern or want to examine a financial subject, send Kevin, Sheena and Travis your question at wealthbeing@firstwestcu.ca, and we will consider it for a future episode.
WEALTHBEING HOSTS
Travis Koivula
Senior Wealth Advisor | Senior Investment Advisor
Island Savings Insurance Services | Credential Securities
Travis has been serving the financial needs of members in the Credit Union system since 2007 and is one of the most accredited financial advisors in Canada. He holds the globally recognized Charted Financial Analyst (CFA) designation, is a Certified Financial Planner, Canadian Investment Manager (CIM), Fellow of the Canadian Securities Institute (FSCI) and a Chartered Strategic Wealth Professional (CSWP).
Sheena Sanders
Wealth Planning Specialist, Valley First
As an accredited Certified Financial Planner, a Registered Retirement Consultant and a Responsible Investment Specialist, Sheena's array of knowledge and experience means that no question goes unanswered and no opportunity ignored. For people who seek help with retirement, education, investment, and succession planning, Sheena is a natural person to have on their team.
Kevin Lehman
Regional Manager, Business Banking, Envision Financial
When asked who has made the biggest impact in your life, does your financial advisor come to mind? If you've met Envision Financial’s Regional Manager of Business Banking, Kevin Lehman, he's likely one of your personal game-changers. After attending the University of the Fraser Valley, Kevin’s search for new opportunities led him to Envision Financial and it is here that his "seize the day" approach to life propelled him to complete the Canadian Investment Funds Course, receive his mutual fund license and lead a team of business banking advisors to help local companies thrive.
THIS WEEK: There are many strategies you can use to minimize your taxes with an RRSP - but some are risky business if you get caught relying too much on this single investment tool. Kevin was faced with this conundrum with a credit union member who suddenly wanted to make a significant withdrawal to manage her financial crisis. Find out what Travis and Sheena thought of this Money Problem - and how Kevin pulled together a plan to help.
WealthBeing’s mini Money Problem episodes share a real financial challenge or question from our members, clients, or listeners – and the advice our experts provided to help. Learn from their experience and you’ll be prepared to make the best financial decisions for your pocketbook.
Do you have a Money Problem you’d like our help with? You can contact Kevin, Sheena and Travis with your question at wealthbeing@firstwestcu.ca. We will get back to you with an answer.
Or visit any of our Island Savings, Envision Financial, or Valley First locations to talk with an advisor who will provide personal financial advice.
OUR WEALTHBEING HOSTS
Travis Koivula
B.Eng, CFA, CFP®, CIM, FCSI, CIWM
Senior Wealth Advisor | Senior Investment Advisor
Island Savings Insurance Services | Credential Securities
Travis has been serving the financial needs of members in the Credit Union system since 2007 and is one of the most accredited financial advisors in Canada. He holds the globally recognized Charted Financial Analyst (CFA) designation, passing all three tests on his first attempt. In addition he is a Certified Financial Planner (top 1% of his class), Canadian Investment Manager (CIM), Fellow of the Canadian Securities Institute (FSCI) and a Chartered Strategic Wealth Professional (CSWP).
Sheena Sanders
Wealth Planning Specialist, Valley First
Sheena meets every client with a fervent desire to create a uniquely remarkable experience. As an accredited Certified Financial Planner, a Registered Retirement Consultant and a Responsible Investment Specialist, her array of knowledge and experience means that Sheena leave no question unanswered and no opportunity ignored. For people who seek help with retirement, education, investment, and succession planning, Sheena is a natural person to have on their team. Clients benefit from her strategic approach and “big picture” mindset that incorporates tax optimization ESG principals and integration.
Kevin Lehman
Assistant Branch Manager, Envision Financial
When asked who has made the biggest impact in your life, does your financial advisor come to mind? If you've met Envision Financial Assistant Branch Manager, Kevin Lehman, he's likely in your top five personal game-changers. After attending the University of the Fraser Valley, Kevin sought new opportunities that led him to begin his career with Envision Financial, a division of First West Credit Union. And it is here that his "seize the day" approach to life propelled him to complete the Canadian Investment Funds Course, receive his mutual fund license and join the management team within five years. Today, as Kevin continues to pursue his Personal Financial Planner designation, he coaches a team of advisors to make a lasting impression on people's wellbeing.
All con
THIS WEEK: There comes a time when you're ready to clock-out of your career for good. But what if you have to take a financial compromise to start your golden years? This week, Travis tells us about his client who wanted to retire early and the income challenges that presented. Our experts discuss what happens when you just can't wait to claim your full financial benefits.
WealthBeing’s mini Money Problem episodes share a real financial challenge or question from our members, clients, or listeners – and the advice our experts provided to help. Learn from their experience and you’ll be prepared to make the best financial decisions for your pocketbook.
Do you have a Money Problem you’d like our help with? You can contact Kevin, Sheena and Travis with your question at wealthbeing@firstwestcu.ca. We will get back to you with an answer.
Or visit any of our Island Savings, Envision Financial, or Valley First locations to talk with an advisor who will provide personal financial advice.
OUR WEALTHBEING HOSTS
Travis Koivula
B.Eng, CFA, CFP®, CIM, FCSI, CIWM
Senior Wealth Advisor | Senior Investment Advisor
Island Savings Insurance Services | Credential Securities
Travis has been serving the financial needs of members in the Credit Union system since 2007 and is one of the most accredited financial advisors in Canada. He holds the globally recognized Charted Financial Analyst (CFA) designation, passing all three tests on his first attempt. In addition he is a Certified Financial Planner (top 1% of his class), Canadian Investment Manager (CIM), Fellow of the Canadian Securities Institute (FSCI) and a Chartered Strategic Wealth Professional (CSWP).
Sheena Sanders
Wealth Planning Specialist, Valley First
Sheena meets every client with a fervent desire to create a uniquely remarkable experience. As an accredited Certified Financial Planner, a Registered Retirement Consultant and a Responsible Investment Specialist, her array of knowledge and experience means that Sheena leave no question unanswered and no opportunity ignored. For people who seek help with retirement, education, investment, and succession planning, Sheena is a natural person to have on their team. Clients benefit from her strategic approach and “big picture” mindset that incorporates tax optimization ESG principals and integration.
Kevin Lehman
Assistant Branch Manager, Envision Financial
When asked who has made the biggest impact in your life, does your financial advisor come to mind? If you've met Envision Financial Assistant Branch Manager, Kevin Lehman, he's likely in your top five personal game-changers. After attending the University of the Fraser Valley, Kevin sought new opportunities that led him to begin his career with Envision Financial, a division of First West Credit Union. And it is here that his "seize the day" approach to life propelled him to complete the Canadian Investment Funds Course, receive his mutual fund license and join the management team within five years. Today, as Kevin continues to pursue his Personal Financial Planner designation, he coaches a team of advisors to make a lasting impression on people's wellbeing.
It could be on your mind right now. One (or more) of the same questions that people are seeking answers for online. So, this week on WealthBeing™ our co-hosts are cutting straight to the facts. We’ll reveal what you need to know about 10 commonly searched queries online.
2:35 – Hot in Money: Explaining the factors causing such unpredictable commodities prices in 2021.
5:30 – Expert Examination:
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How much money do I need to retire?
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How much money should I be saving from my paycheque?
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Should I get into investing now or pay off my debt?
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What is a Robo-advisor?
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How do I know if I should invest with an advisor or self-manage my investments?
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What does “pay yourself first” actually mean?
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What are “bear” and “bull” markets and should I invest differently in them?
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Is buying stocks basically the same as gambling with my money?
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What is a “market correction”?
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What is an index fund and why would I use one?
33:45 – Financial Fix: It’s likely you’ll go in search of more answers on the internet, and Kevin has a strategy to help you evaluate the information you receive online.
If you have an undiagnosed financial concern or want to examine a financial subject, send Kevin, Sheena and Travis your question at wealthbeing@firstwestcu.ca, and we will consider it for a future episode.
WEALTHBEING HOSTS
Travis Koivula
Senior Wealth Advisor | Senior Investment Advisor
Island Savings Insurance Services | Credential Securities
Travis has been serving the financial needs of members in the Credit Union system since 2007 and is one of the most accredited financial advisors in Canada. He holds the globally recognized Charted Financial Analyst (CFA) designation, is a Certified Financial Planner, Canadian Investment Manager (CIM), Fellow of the Canadian Securities Institute (FSCI) and a Chartered Strategic Wealth Professional (CSWP).
Sheena Sanders
Wealth Planning Specialist, Valley First
As an accredited Certified Financial Planner, a Registered Retirement Consultant and a Responsible Investment Specialist, Sheena's array of knowledge and experience means that no question goes unanswered and no opportunity ignored. For people who seek help with retirement, education, investment, and succession planning, Sheena is a natural person to have on their team.
Kevin Lehman
Regional Manager, Business Banking, Envision Financial
When asked who has made the biggest impact in your life, does your financial advisor come to mind? If you've met Envision Financial’s Regional Manager of Business Banking, Kevin Lehman, he's likely one of your personal game-changers. After attending the University of the Fraser Valley, Kevin’s search for new opportunities led him to Envision Financial and it is here that his "seize the day" approach to life propelled him to complete the Canadian Investment Funds Course, receive his mutual fund license and lead a team of business banking advisors to help local companies thrive.
Many of us support local business with our everyday spending, but what about investing here in Canada? On WealthBeing™ this week, our co-hosts are having a Canada Day conversation with John Bai, Chief Investment Officer at Aviso Wealth, about the leading and emerging Canadian investment sectors, and how to structure your portfolio to invest here at home.
2:30 – Hot in Money: The TSX hit a new record this week and our co-hosts make some predictions about how the year may play out.
5:15 – Expert Examination:
-
What sectors that perform well for Canadian investors.
-
Canadian investment sectors growing more clout.
-
Does the size of the company you invest in matter?
-
What investors should understand about the TSX.
-
Is Canada the best place to invest all your money?
-
The best types of accounts to use to hold Canadian investments
37:30 – Financial Fix: This week, Travis suggest a way to seek a little more information from your advisor and open up an important conversation around your balance of investments.
If you have an undiagnosed financial concern or want to examine a financial subject, send Kevin, Sheena and Travis your question at wealthbeing@firstwestcu.ca, and we will consider it for a future episode.
WEALTHBEING HOSTS
Travis Koivula
Senior Wealth Advisor | Senior Investment Advisor
Island Savings Insurance Services | Credential Securities
Travis has been serving the financial needs of members in the Credit Union system since 2007 and is one of the most accredited financial advisors in Canada. He holds the globally recognized Charted Financial Analyst (CFA) designation, is a Certified Financial Planner, Canadian Investment Manager (CIM), Fellow of the Canadian Securities Institute (FSCI) and a Chartered Strategic Wealth Professional (CSWP).
Sheena Sanders
Wealth Planning Specialist, Valley First
As an accredited Certified Financial Planner, a Registered Retirement Consultant and a Responsible Investment Specialist, Sheena's array of knowledge and experience means that no question goes unanswered and no opportunity ignored. For people who seek help with retirement, education, investment, and succession planning, Sheena is a natural person to have on their team.
Kevin Lehman
Regional Manager, Business Banking, Envision Financial
When asked who has made the biggest impact in your life, does your financial advisor come to mind? If you've met Envision Financial’s Regional Manager of Business Banking, Kevin Lehman, he's likely one of your personal game-changers. After attending the University of the Fraser Valley, Kevin’s search for new opportunities led him to Envision Financial and it is here that his "seize the day" approach to life propelled him to complete the Canadian Investment Funds Course, receive his mutual fund license and lead a team of business banking advisors to help local companies thrive.
It’s said that the best dollar earned is a tax-free dollar, but what does what mean when it comes to gratuities, side hustles and flipping assets? In this week’s episode of WealthBeing™, Kevin, Sheena and Travis settle in to hear from Accountant Rick Keller on some common misconceptions around taxation, strategies for taking advantage of tax sheltering vehicles and how to grow your wealth through careful tax planning.
3:00 – Hot In Money: Does the old adage “sell in May and go away” hold any good advice for your investment choices this year?
5:00 – Expert Examination:
- Get rich quick – is there such a thing?
- Tax implications of cryptocurrency assets
- Taking more money home through employer benefit programs
- Retirement allowances – should people be thinking about taxes?
- How much do you actually need to claim from tips and gratuities?
- Is a side hustle worth the time investment with additional taxes?
- Does e-commerce live up to the earning hype?
47:30 – Financial Fix: Sheena’s suggestion will have you trading clutter for cash – and stashing it away.
If you have an undiagnosed financial concern or want to examine a financial subject, send Kevin, Sheena and Travis your question at wealthbeing@firstwestcu.ca, and we will consider it for a future episode.
WEALTHBEING HOSTS
Travis Koivula
Senior Wealth Advisor | Senior Investment Advisor
Island Savings Insurance Services | Credential Securities
Travis has been serving the financial needs of members in the Credit Union system since 2007 and is one of the most accredited financial advisors in Canada. He holds the globally recognized Charted Financial Analyst (CFA) designation, is a Certified Financial Planner, Canadian Investment Manager (CIM), Fellow of the Canadian Securities Institute (FSCI) and a Chartered Strategic Wealth Professional (CSWP).
Sheena Sanders
Wealth Planning Specialist, Valley First
As an accredited Certified Financial Planner, a Registered Retirement Consultant and a Responsible Investment Specialist, Sheena's array of knowledge and experience means that no question goes unanswered and no opportunity ignored. For people who seek help with retirement, education, investment, and succession planning, Sheena is a natural person to have on their team.
Kevin Lehman
Regional Manager, Business Banking, Envision Financial
When asked who has made the biggest impact in your life, does your financial advisor come to mind? If you've met Envision Financial’s Regional Manager of Business Banking, Kevin Lehman, he's likely one of your personal game-changers. After attending the University of the Fraser Valley, Kevin’s search for new opportunities led him to Envision Financial and it is here that his "seize the day" approach to life propelled him to complete the Canadian Investment Funds Course, receive his mutual fund license and lead a team of business banking advisors to help local companies thrive.
THIS WEEK: If you’ve created a business, you’re probably great at managing the day-to-day. How about what’s going to happen in the distant (or not-so-distant) tomorrow when it’s time to retire? It was time for one of Sheena’s clients to transition out of her business and she wanted to make sure that her employees would be well taken care of without her. Our experts discuss when and how to approach succession planning as a sole proprietor.
WealthBeing’s mini Money Problem episodes share a real financial challenge or question from our members, clients, or listeners – and the advice our experts provided to help. Learn from their experience and you’ll be prepared to make the best financial decisions for your pocketbook.
Do you have a Money Problem you’d like our help with? You can contact Kevin, Sheena and Travis with your question at wealthbeing@firstwestcu.ca. We will get back to you with an answer.
Or visit any of our Island Savings, Envision Financial, or Valley First locations to talk with an advisor who will provide personal financial advice.
OUR WEALTHBEING HOSTS
Travis Koivula
B.Eng, CFA, CFP®, CIM, FCSI, CIWM
Senior Wealth Advisor | Senior Investment Advisor
Island Savings Insurance Services | Credential Securities
Travis has been serving the financial needs of members in the Credit Union system since 2007 and is one of the most accredited financial advisors in Canada. He holds the globally recognized Charted Financial Analyst (CFA) designation, passing all three tests on his first attempt. In addition he is a Certified Financial Planner (top 1% of his class), Canadian Investment Manager (CIM), Fellow of the Canadian Securities Institute (FSCI) and a Chartered Strategic Wealth Professional (CSWP).
Sheena Sanders
Wealth Planning Specialist, Valley First
Sheena meets every client with a fervent desire to create a uniquely remarkable experience. As an accredited Certified Financial Planner, a Registered Retirement Consultant and a Responsible Investment Specialist, her array of knowledge and experience means that Sheena leave no question unanswered and no opportunity ignored. For people who seek help with retirement, education, investment, and succession planning, Sheena is a natural person to have on their team. Clients benefit from her strategic approach and “big picture” mindset that incorporates tax optimization ESG principals and integration.
Kevin Lehman
Assistant Branch Manager, Envision Financial
When asked who has made the biggest impact in your life, does your financial advisor come to mind? If you've met Envision Financial Assistant Branch Manager, Kevin Lehman, he's likely in your top five personal game-changers. After attending the University of the Fraser Valley, Kevin sought new opportunities that led him to begin his career with Envision Financial, a division of First West Credit Union. And it is here that his "seize the day" approach to life propelled him to complete the Canadian Investment Funds Course, receive his mutual fund license and join the management team within five years. Today, as Kevin continues to pursue his Personal Financial Planner designation, he coaches a team of advisors to make a lasting impression on people's wellbeing.
If being in good financial health was as easy as having the right spreadsheet, we’d never have to worry about the next credit card bill or keeping up with a car loan. But life – and our own habits - seem to get in the way of our good financial intentions. This week, we wanted to find real solutions to living without debt and building wealth, which is why we are thrilled to share this conversation that Kevin, Sheena and Travis had with Author and Financial Coach, Erin Skye Kelly, about her own success story, how she’s helped people eliminate hefty debt burdens, and her fresh insights on how to “Get the Hell Out of Debt.”
3:20 – Hot in Money: The housing market is always changing, and Sheena, Travis and Kevin break down a recent adjustment to the mortgage stress test and how it might affect affording your next home.
6:00 – Expert examination:
· From MTV to Money Guru – how Erin developed her expertise to help people deal with financial obligations.
· The impact of the pandemic on people’s money habits.
· Why budget and net worth are critical to financial health.
· How to choose the right kind of budget for your lifestyle.
· Can you have 100% control over your money?
· Carrying credit - yay or nay?
· Why you should care about the total cost of borrowing over your loan interest rate.
· How to out everything “out in the open” during a debt conversation.
· (59:25) Erin’s "Get the Hell Out of Debt" program, book, and incredible early bird offer.
If you have an undiagnosed financial concern or want to examine a financial subject, send Kevin, Sheena and Travis your question at wealthbeing@firstwestcu.ca, and we will consider it for a future episode.
WEALTHBEING HOSTS
Travis Koivula
Senior Wealth Advisor | Senior Investment Advisor
Island Savings Insurance Services | Credential Securities
Travis has been serving the financial needs of members in the Credit Union system since 2007 and is one of the most accredited financial advisors in Canada. He holds the globally recognized Charted Financial Analyst (CFA) designation, is a Certified Financial Planner, Canadian Investment Manager (CIM), Fellow of the Canadian Securities Institute (FSCI) and a Chartered Strategic Wealth Professional (CSWP).
Sheena Sanders
Wealth Planning Specialist, Valley First
As an accredited Certified Financial Planner, a Registered Retirement Consultant and a Responsible Investment Specialist, Sheena's array of knowledge and experience means that no question goes unanswered and no opportunity ignored. For people who seek help with retirement, education, investment, and succession planning, Sheena is a natural person to have on their team.
Kevin Lehman
Regional Manager, Business Banking, Envision Financial
When asked who has made the biggest impact in your life, does your financial advisor come to mind? If you've met Envision Financial’s Regional Manager of Business Banking, Kevin Lehman, he's likely one of your personal game-changers. After attending the University of the Fraser Valley, Kevin’s search for new opportunities led him to Envision Financial and it is here that his "seize the day" approach to life propelled him to complete the Canadian Investment Funds Course, receive his mutual fund license and lead a team of business banking advisors to help local companies thrive.
It’s easy for your vehicle to go from necessity to status symbol. But letting a purchase, dealership, or abundance of maintenance costs over-stretch your budget will only lead to a financial collision. This week, our Kevin, Sheena and Travis invite Valley First Branch Manager, Aaron Bowyer, onto the show for a conversation about the factors that are worth weighing when it comes to your vehicle.
2:30 – Hot in Money: The Canadian dollar has been on the climb and our co-hosts discuss the reasons for the recent fluctuation.
4:43 – Expert examination:
· New, used, repair or share? The best way to get wheels.
· How much of your budget you should spend on your vehicle.
· When leasing is worth considering.
· How to negotiate your vehicle purchase.
· Is it okay to skimp on auto insurance options to save money?
· Getting the best value when saying goodbye - trade-in or sell privately?
40:00 – Financial Fix: Sheena's task will help you understand how much moola is going into your vehicle(s), and potentially help you create more comfort for future costs.
If you have an undiagnosed financial concern or want to better understand a financial subject, send Kevin, Sheena and Travis your question at wealthbeing@firstwestcu.ca, and we will consider it for a future episode.
If you’d like some one-on-one advice from our Financial Advisors in British Columbia, connect with our Island Savings, Envision Financial, Valley First and Enderby District Financial divisions near you.
OUR WEALTHBEING HOSTS
Travis Koivula
Senior Wealth Advisor | Senior Investment Advisor
Island Savings Insurance Services | Credential Securities
Travis has been serving the financial needs of members in the Credit Union system since 2007 and is one of the most accredited financial advisors in Canada. He holds the globally recognized Charted Financial Analyst (CFA) designation, is a Certified Financial Planner, Canadian Investment Manager (CIM), Fellow of the Canadian Securities Institute (FSCI) and a Chartered Strategic Wealth Professional (CSWP).
Sheena Sanders
Wealth Planning Specialist, Valley First
As an accredited Certified Financial Planner, a Registered Retirement Consultant and a Responsible Investment Specialist, Sheena's array of knowledge and experience means that no question goes unanswered and no opportunity ignored. For people who seek help with retirement, education, investment, and succession planning, Sheena is a natural person to have on their team.
Kevin Lehman
Regional Manager, Business Banking, Envision Financial
When asked who has made the biggest impact in your life, does your financial advisor come to mind? If you've met Envision Financial’s Regional Manager of Business Banking, Kevin Lehman, he's likely one of your personal game-changers. After attending the University of the Fraser Valley, Kevin’s search for new opportunities led him to Envision Financial, a division of First West Credit Union. It is here that his "seize the day" approach to life propelled him to complete the Canadian Investment Funds Course, receive his mutual fund license and join the management team, where he now leads business banking advisors to help local companies thrive.
THIS WEEK: What happens with your money and assets late in life? There are probably more factors to consider than at first glance. That was the case for one client who, when widowed, worked with Travis to make sure their lifestyle and legacy were taken care of. Our experts expose the many factors to plan for with your family.
Plus! We invite you to an upcoming live conversation with Yufei Man, Director of Asset Allocation and Investment Strategy at NEI Investments. If you’re wondering what the market outlook is for 2021 and beyond – and why people are now choosing Responsible Investments in over 60% of their portfolios – register at: https://wealthbeingmay2021.eventbrite.ca/
Do you have a Money Problem you’d like our help with? You can contact Kevin, Sheena and Travis with your question at wealthbeing@firstwestcu.ca. We will get back to you with an answer.
Or visit any of our Island Savings, Envision Financial, or Valley First locations to talk with an advisor who will provide personal financial advice.
OUR WEALTHBEING HOSTS
Travis Koivula
B.Eng, CFA, CFP®, CIM, FCSI, CIWM
Senior Wealth Advisor | Senior Investment Advisor
Island Savings Insurance Services | Credential Securities
Travis has been serving the financial needs of members in the Credit Union system since 2007 and is one of the most accredited financial advisors in Canada. He holds the globally recognized Charted Financial Analyst (CFA) designation, passing all three tests on his first attempt. In addition he is a Certified Financial Planner (top 1% of his class), Canadian Investment Manager (CIM), Fellow of the Canadian Securities Institute (FSCI) and a Chartered Strategic Wealth Professional (CSWP).
Sheena Sanders
Wealth Planning Specialist, Valley First
Sheena meets every client with a fervent desire to create a uniquely remarkable experience. As an accredited Certified Financial Planner, a Registered Retirement Consultant and a Responsible Investment Specialist, her array of knowledge and experience means that Sheena leave no question unanswered and no opportunity ignored. For people who seek help with retirement, education, investment, and succession planning, Sheena is a natural person to have on their team. Clients benefit from her strategic approach and “big picture” mindset that incorporates tax optimization ESG principals and integration.
Kevin Lehman
Assistant Branch Manager, Envision Financial
When asked who has made the biggest impact in your life, does your financial advisor come to mind? If you've met Envision Financial Assistant Branch Manager, Kevin Lehman, he's likely in your top five personal game-changers. After attending the University of the Fraser Valley, Kevin sought new opportunities that led him to begin his career with Envision Financial, a division of First West Credit Union. And it is here that his "seize the day" approach to life propelled him to complete the Canadian Investment Funds Course, receive his mutual fund license and join the management team within five years. Today, as Kevin continues to pursue his Personal Financial Planner designation, he coaches a team of advisors to make a lasting impression on people's wellbeing.
More than half of the Canadian investors that you know are likely making vales-based choices. Responsible Investing (RI) is taking off in Canada and we wanted to know why. This week, our co-hosts chat with Yufei Man, Director of Asset Allocation at NEI Investments about what's driving the demand, the future of RI, and whether you’re missing the boat with conventional investment choices.
2:10 – Hot In Money: All Travis’ clients are wondering why the market is doing so well when the economy has seen better days. Our co-hosts explain some factors that influence today’s trend.
5:08 – Expert examination:
- What makes Responsible Investing such a rapidly growing sector in Canada?
- The different mindsets of responsible investors.
- Is an all-in or partial approach the best strategy for responsible investing.
- Who to trust? Discerning “responsible” companies to invest in and the impact of “greenwashing.”
- Can your portfolio be 100% sustainable – and should it be?
- Should you invest in renewable energies or energy efficiency?
- How Government actions impact responsible investments.
45:56 – Financial Fix: Interested to know how the companies in your current portfolio rate on RI measures? Travis has a simple task that will help you understand your impact.
You're invited! Attend our live conversation with Yufei Man, Director of Asset Allocation and Investment Strategy at NEI Investments, to find out about the market outlook for 2021 and beyond. Register at: https://wealthbeingmay2021.eventbrite.ca/
Our WealthBeing Hosts
Travis Koivula
B.Eng, CFA, CFP®, CIM, FCSI, CIWM
Senior Wealth Advisor | Senior Investment Advisor
Island Savings Insurance Services | Credential Securities
Travis has been serving the financial needs of members in the Credit Union system since 2007 and is one of the most accredited financial advisors in Canada. He holds the globally recognized Charted Financial Analyst (CFA) designation, passing all three tests on his first attempt. In addition he is a Certified Financial Planner (top 1% of his class), Canadian Investment Manager (CIM), Fellow of the Canadian Securities Institute (FSCI) and a Chartered Strategic Wealth Professional (CSWP).
Sheena Sanders
Wealth Planning Specialist, Valley First
Sheena meets every client with a fervent desire to create a uniquely remarkable experience. As an accredited Certified Financial Planner, a Registered Retirement Consultant and a Responsible Investment Specialist, her array of knowledge and experience means that Sheena leave no question unanswered and no opportunity ignored. For people who seek help with retirement, education, investment, and succession planning, Sheena is a natural person to have on their team. Clients benefit from her strategic approach and “big picture” mindset that incorporates tax optimization ESG principals and integration.
Kevin Lehman
Regional Manager, Business Banking, Envision Financial
When asked who has made the biggest impact in your life, does your financial advisor come to mind? If you've met Envision Financial’s Regional Manager of Business Banking, Kevin Lehman, he's likely one of your personal game-changers. He leads a team of business banking advisors to help local companies thrive. You might say he’s a dreamer, and Kevin would agree. He is inspired by the dedication with which entrepreneurs pursue their vision and goals, and is a willing and prepared partner for owners to access the financial advice and tools that will support and grow their sustainable business.
THIS WEEK: People often associate retirement with asset accumulation, but a strong personal balance sheet isn’t always enough to manage day-to-day expenses. For one couple in their late 70s, the challenge of paying off debt with limited retirement income was a disheartening obstacle. Our experts weigh in on the options available to handle this type of situation proactively and reactively, as well as how Kevin helped his members pay off their debt and gain peace of mind in retirement.
Plus! Sheena and Travis invite you to an upcoming live conversation with Yufei Man, Director of Asset Allocation and Investment Strategy at NEI Investments. If you’re wondering what the market outlook is for 2021 and beyond – and why people are now choosing Responsible Investments in over 60% of their portfolios – register at: https://wealthbeingmay2021.eventbrite.ca/
WealthBeing’s mini Money Problem episodes share a real financial challenge or question from our members, clients, or listeners – and the advice our experts provided to help. Learn from their experience and you’ll be prepared to make the best financial decisions for your pocketbook.
Do you have a Money Problem you’d like our help with? You can contact Kevin, Sheena and Travis with your question at wealthbeing@firstwestcu.ca. We will get back to you with an answer.
Or visit any of our Island Savings, Envision Financial, or Valley First locations to talk with an advisor who will provide personal financial advice.
Earth Day 2021 has our co-hosts thinking about the impact our financial habits on environmental protection and sustainable living. We invite Alex Brocklebank, Island Savings Branch Manager and member of First West Young Leaders, to talk about being greener every day –for your pocketbook and the planet. Use their personal tips to live environmentally-consciously on a budget.
1:25 – Hot In Money: Travis, Kevin and Sheena discuss how the new Federal budget could impact your day-to-day financial health.
6:34 – Expert examination:
· Assessing the impact of individual spending choices.
· Easy and affordable ways to inject more green choices into your budget.
· Significant planet-friendly changes you can make by spending consciously.
· How to reduce your total footprint on the planet.
· Why Responsible Investments are today’s natural choice for tomorrow.
· How our co-hosts make their planet-friendly changes stick.
37:46 – Financial Fix: Use Sheena’s suggestion over the next two weeks to not only reinforce your earth-friendly habits, but to inspire others around you.
If you have an undiagnosed financial concern or want to better understand a financial subject, send Kevin, Sheena and Travis your question at wealthbeing@firstwestcu.ca, and we will consider it for a future episode.
If you’d like some one-on-one advice from our Financial Advisors in British Columbia, connect with our Island Savings, Envision Financial, Valley First and Enderby District Financial divisions near you.
Our WealthBeing Hosts
Travis Koivula
B.Eng, CFA, CFP®, CIM, FCSI, CIWM
Senior Wealth Advisor | Senior Investment Advisor
Island Savings Insurance Services | Credential Securities
Travis has been serving the financial needs of members in the Credit Union system since 2007 and is one of the most accredited financial advisors in Canada. He holds the globally recognized Charted Financial Analyst (CFA) designation, passing all three tests on his first attempt. In addition he is a Certified Financial Planner (top 1% of his class), Canadian Investment Manager (CIM), Fellow of the Canadian Securities Institute (FSCI) and a Chartered Strategic Wealth Professional (CSWP).
Sheena Sanders
Wealth Planning Specialist, Valley First
Sheena meets every client with a fervent desire to create a uniquely remarkable experience. As an accredited Certified Financial Planner, a Registered Retirement Consultant and a Responsible Investment Specialist, her array of knowledge and experience means that Sheena leave no question unanswered and no opportunity ignored. For people who seek help with retirement, education, investment, and succession planning, Sheena is a natural person to have on their team. Clients benefit from her strategic approach and “big picture” mindset that incorporates tax optimization ESG principals and integration.
Kevin Lehman
Assistant Branch Manager, Envision Financial
When asked who has made the biggest impact in your life, does your financial advisor come to mind? If you've met Envision Financial Assistant Branch Manager, Kevin Lehman, he's likely in your top five personal game-changers. After attending the University of the Fraser Valley, Kevin sought new opportunities that led him to begin his career with Envision Financial, a division of First West Credit Union. And it is here that his "seize the day" approach to life propelled him to complete the Canadian Investment Funds Course, receive his mutual fund license and join the management team within five years.
THIS WEEK: There comes a time when every business owner wants to retire and enjoy the fruits of their labour. But for one couple, the decision to sell their business put them at risk of the taxman taking 50% of their profits. Our experts share the story of these business owners and discuss when and how to make sure your exit is structured to reap rewards.
WealthBeing’s mini Money Problem episodes share a real financial challenge or question from our members, clients, or listeners – and the advice our experts provided to help. Learn from their experience and you’ll be prepared to make the best financial decisions for your pocketbook.
Do you have a Money Problem you’d like our help with? You can contact Kevin, Sheena and Travis with your question at wealthbeing@firstwestcu.ca. We will get back to you with an answer.
Or visit any of our Island Savings, Envision Financial, or Valley First locations to talk with an advisor who will provide personal financial advice.
------------------------------
OUR WEALTHBEING HOSTS
Travis Koivula
B.Eng, CFA, CFP®, CIM, FCSI, CIWM
Senior Wealth Advisor | Senior Investment Advisor
Island Savings Insurance Services | Credential Securities
Travis has been serving the financial needs of members in the Credit Union system since 2007 and is one of the most accredited financial advisors in Canada. He holds the globally recognized Charted Financial Analyst (CFA) designation, passing all three tests on his first attempt. In addition he is a Certified Financial Planner (top 1% of his class), Canadian Investment Manager (CIM), Fellow of the Canadian Securities Institute (FSCI) and a Chartered Strategic Wealth Professional (CSWP).
Sheena Sanders
Wealth Planning Specialist, Valley First
Sheena meets every client with a fervent desire to create a uniquely remarkable experience. As an accredited Certified Financial Planner, a Registered Retirement Consultant and a Responsible Investment Specialist, her array of knowledge and experience means that Sheena leave no question unanswered and no opportunity ignored. For people who seek help with retirement, education, investment, and succession planning, Sheena is a natural person to have on their team. Clients benefit from her strategic approach and “big picture” mindset that incorporates tax optimization ESG principals and integration.
Kevin Lehman
Assistant Branch Manager, Envision Financial
When asked who has made the biggest impact in your life, does your financial advisor come to mind? If you've met Envision Financial Assistant Branch Manager, Kevin Lehman, he's likely in your top five personal game-changers. After attending the University of the Fraser Valley, Kevin sought new opportunities that led him to begin his career with Envision Financial, a division of First West Credit Union. And it is here that his "seize the day" approach to life propelled him to complete the Canadian Investment Funds Course, receive his mutual fund license and join the management team within five years. Today, as Kevin continues to pursue his Personal Financial Planner designation, he coaches a team of advisors to make a lasting impression on people's wellbeing.
Without a financial crystal ball (we’re still waiting for ours), it can be hard to evaluate all the pros and cons of how to use your money. But one thing we can predict is that by minimizing risk you’ll have a healthier financial plan. This week, our co-hosts have teamed up with Derrick Sketchley, Branch Manager at Island Savings (and former WealthBeing co-host) to hold our third debate. These four experts will argue whether eight financial decisions are too much risk or worth the reward.
See which debate duo convince our guest moderator, Annie Nolan, Senior Financial Advisor at Island Savings, that they have the winning arguments.
If you have an undiagnosed financial concern or want to better understand a financial subject, send Kevin, Sheena and Travis your question at wealthbeing@firstwestcu.ca, and we will consider it for a future episode.
If you’d like some one-on-one advice from our Financial Advisors in British Columbia, connect with our Island Savings, Envision Financial, Valley First and Enderby District Financial divisions near you.
OUR WEALTHBEING HOSTS
Travis Koivula
B.Eng, CFA, CFP®, CIM, FCSI, CIWM
Senior Wealth Advisor | Senior Investment Advisor
Island Savings Insurance Services | Credential Securities
Travis has been serving the financial needs of members in the Credit Union system since 2007 and is one of the most accredited financial advisors in Canada. He holds the globally recognized Charted Financial Analyst (CFA) designation, passing all three tests on his first attempt. In addition he is a Certified Financial Planner (top 1% of his class), Canadian Investment Manager (CIM), Fellow of the Canadian Securities Institute (FSCI) and a Chartered Strategic Wealth Professional (CSWP).
Sheena Sanders
Wealth Planning Specialist, Valley First
Sheena meets every client with a fervent desire to create a uniquely remarkable experience. As an accredited Certified Financial Planner, a Registered Retirement Consultant and a Responsible Investment Specialist, her array of knowledge and experience means that Sheena leave no question unanswered and no opportunity ignored. For people who seek help with retirement, education, investment, and succession planning, Sheena is a natural person to have on their team. Clients benefit from her strategic approach and “big picture” mindset that incorporates tax optimization ESG principals and integration.
Kevin Lehman
Assistant Branch Manager, Envision Financial
When asked who has made the biggest impact in your life, does your financial advisor come to mind? If you've met Envision Financial Assistant Branch Manager, Kevin Lehman, he's likely in your top five personal game-changers. After attending the University of the Fraser Valley, Kevin sought new opportunities that led him to begin his career with Envision Financial, a division of First West Credit Union. And it is here that his "seize the day" approach to life propelled him to complete the Canadian Investment Funds Course, receive his mutual fund license and join the management team within five years. Today, as Kevin continues to pursue his Personal Financial Planner designation, he coaches a team of advisors to make a lasting impression on people's wellbeing.
THIS WEEK: The potential merger between telecom companies Shaw and Rogers has investors wondering if they should sell now and benefit from the recent stock price increase or wait for an even higher pay day. Our experts discuss the factors that should weigh into a decision about when to sell, and how Travis helped his members make a smart decision.
WealthBeing’s mini Money Problem episodes share a real financial challenge or question from our members, clients, or listeners – and the advice our experts provided to help. Learn from their experience and you’ll be prepared to make the best financial decisions for your pocketbook.
Do you have a Money Problem you’d like our help with? You can contact Kevin, Sheena and Travis with your question at wealthbeing@firstwestcu.ca. We will get back to you with an answer.
Or visit any of our Island Savings, Envision Financial, or Valley First locations to talk with an advisor who will provide personal financial advice.
------------------------------
OUR WEALTHBEING HOSTS
Travis Koivula
B.Eng, CFA, CFP®, CIM, FCSI, CIWM
Senior Wealth Advisor | Senior Investment Advisor
Island Savings Insurance Services | Credential Securities
Travis has been serving the financial needs of members in the Credit Union system since 2007 and is one of the most accredited financial advisors in Canada. He holds the globally recognized Charted Financial Analyst (CFA) designation, passing all three tests on his first attempt. In addition he is a Certified Financial Planner (top 1% of his class), Canadian Investment Manager (CIM), Fellow of the Canadian Securities Institute (FSCI) and a Chartered Strategic Wealth Professional (CSWP).
Sheena Sanders
Wealth Planning Specialist, Valley First
Sheena meets every client with a fervent desire to create a uniquely remarkable experience. As an accredited Certified Financial Planner, a Registered Retirement Consultant and a Responsible Investment Specialist, her array of knowledge and experience means that Sheena leave no question unanswered and no opportunity ignored. For people who seek help with retirement, education, investment, and succession planning, Sheena is a natural person to have on their team. Clients benefit from her strategic approach and “big picture” mindset that incorporates tax optimization ESG principals and integration.
Kevin Lehman
Assistant Branch Manager, Envision Financial
When asked who has made the biggest impact in your life, does your financial advisor come to mind? If you've met Envision Financial Assistant Branch Manager, Kevin Lehman, he's likely in your top five personal game-changers. After attending the University of the Fraser Valley, Kevin sought new opportunities that led him to begin his career with Envision Financial, a division of First West Credit Union. And it is here that his "seize the day" approach to life propelled him to complete the Canadian Investment Funds Course, receive his mutual fund license and join the management team within five years. Today, as Kevin continues to pursue his Personal Financial Planner designation, he coaches a team of advisors to make a lasting impression on people's wellbeing.
Everyone is targeted by fraudsters - probably more often that you realize - and their techniques only get more sophisticated over time. As a credit union, we hear about scam attempts and victims every day, which is why we’ve invited Barbara Wittner, Assistant Manager of our Member Advice Centre to talk with Kevin, Sheena and Travis about the most common signs of fraud and how to protect your financial health.
2:30 What’s hot in money: There’s been more news lately about the price of alternative currencies, so our co-hosts explain why they’re on everyone’s mind and if they’re a good idea.
6:10 Expert Examination:
· The prevalence of fraud in our lives today.
· Identifying fake information from sources you usually trust.
· How COVID-19 is creating new opportunities to be defrauded.
· When searching for love could leave you financially broken up.
· Why you should be skeptical of unexpected job offers.
· When tech support is anything but helpful.
· Why bitcoin and gift cards are a scam red flag.
· Investment schemes that will ruin your retirement dreams.
· How our credit union helps protect your money.
46:20 Financial Fix: In just a few minutes you can increase the barrier between scammers and your money.
If you have an undiagnosed financial concern or want to better understand a financial subject, send Kevin, Sheena and Travis your question at wealthbeing@firstwestcu.ca, and we will consider it for a future episode.
If you’d like some one-on-one advice from our Financial Advisors in British Columbia, connect with our Island Savings, Envision Financial, Valley First and Enderby District Financial divisions near you.
Our WealthBeing Hosts
Travis Koivula
B.Eng, CFA, CFP®, CIM, FCSI, CIWM
Senior Wealth Advisor | Senior Investment Advisor
Island Savings Insurance Services | Credential Securities
Travis has been serving the financial needs of members in the Credit Union system since 2007 and is one of the most accredited financial advisors in Canada. He holds the globally recognized Charted Financial Analyst (CFA) designation, passing all three tests on his first attempt. In addition he is a Certified Financial Planner (top 1% of his class), Canadian Investment Manager (CIM), Fellow of the Canadian Securities Institute (FSCI) and a Chartered Strategic Wealth Professional (CSWP).
Sheena Sanders
Wealth Planning Specialist, Valley First
Sheena meets every client with a fervent desire to create a uniquely remarkable experience. As an accredited Certified Financial Planner, a Registered Retirement Consultant and a Responsible Investment Specialist, her array of knowledge and experience means that Sheena leave no question unanswered and no opportunity ignored. For people who seek help with retirement, education, investment, and succession planning, Sheena is a natural person to have on their team. Clients benefit from her strategic approach and “big picture” mindset that incorporates tax optimization ESG principals and integration.
Kevin Lehman
Assistant Branch Manager, Envision Financial
When asked who has made the biggest impact in your life, does your financial advisor come to mind? If you've met E
THIS WEEK: With cash-in-hand, a couple is searching for the highest term interest they can get. But at a time of historically-low rates, Kevin will have to get creative to help them thrive. Our experts discuss why this popular investment option isn’t performing as well as it used to, and options to keep it in your portfolio or try something different.
WealthBeing’s mini Money Problem episodes share a real financial challenge or question from our members, clients, or listeners – and the advice our experts provided to help. Learn from their experience and you’ll be prepared to make the best financial decisions for your pocketbook.
Do you have a Money Problem you’d like our help with? You can contact Kevin, Sheena and Travis with your question at wealthbeing@firstwestcu.ca. We will get back to you with an answer.
Or visit any of our Island Savings, Envision Financial, or Valley First *locations to talk with an advisor who will provide personal financial advice.
------------------------------*
OUR WEALTHBEING HOSTS
Travis Koivula
B.Eng, CFA, CFP®, CIM, FCSI, CIWM
Senior Wealth Advisor | Senior Investment Advisor
Island Savings Insurance Services | Credential Securities
Travis has been serving the financial needs of members in the Credit Union system since 2007 and is one of the most accredited financial advisors in Canada. He holds the globally recognized Charted Financial Analyst (CFA) designation, passing all three tests on his first attempt. In addition he is a Certified Financial Planner (top 1% of his class), Canadian Investment Manager (CIM), Fellow of the Canadian Securities Institute (FSCI) and a Chartered Strategic Wealth Professional (CSWP).
Sheena Sanders
Wealth Planning Specialist, Valley First
Sheena meets every client with a fervent desire to create a uniquely remarkable experience. As an accredited Certified Financial Planner, a Registered Retirement Consultant and a Responsible Investment Specialist, her array of knowledge and experience means that Sheena leave no question unanswered and no opportunity ignored. For people who seek help with retirement, education, investment, and succession planning, Sheena is a natural person to have on their team. Clients benefit from her strategic approach and “big picture” mindset that incorporates tax optimization ESG principals and integration.
Kevin Lehman
Assistant Branch Manager, Envision Financial
When asked who has made the biggest impact in your life, does your financial advisor come to mind? If you've met Envision Financial Assistant Branch Manager, Kevin Lehman, he's likely in your top five personal game-changers. After attending the University of the Fraser Valley, Kevin sought new opportunities that led him to begin his career with Envision Financial, a division of First West Credit Union. And it is here that his "seize the day" approach to life propelled him to complete the Canadian Investment Funds Course, receive his mutual fund license and join the management team within five years. Today, as Kevin continues to pursue his Personal Financial Planner designation, he coaches a team of advisors to make a lasting impression on people's wellbeing.
Women in Canada are gaining more control of accumulated financial wealth and that brings more opportunities and decisions. This week Kevin, Sheena and Travis talk with Angela Brown, Head of Brand Engagement and Storytelling at First West Credit Union, about how women have become more involved in their financial health, how to handle modern challenges, and other ways that women live a rich life.
1:50 What’s hot in money: The co-hosts explain what’s happening with five-year bond yield and mortgage rates.
8:45 Expert Examination:
· How women’s relationship with money has changed over time.
· Addressing income disparities.
· Differences in debt.
· Unique challenges in savings, investing and financial decision-making.
· Women’s greater perception of wealth.
· Additional resources.
42:40 Financial Fix: Knowledge is power, and this challenge will give you more of an advantage when making financial decisions.
If you have an undiagnosed financial concern or want to better understand a financial subject, send Kevin, Sheena and Travis your question at wealthbeing@firstwestcu.ca, and we will consider it for a future episode.
Our WealthBeing Hosts
Travis Koivula
B.Eng, CFA, CFP®, CIM, FCSI, CIWM
Senior Wealth Advisor | Senior Investment Advisor
Island Savings Insurance Services | Credential Securities
Travis has been serving the financial needs of members in the Credit Union system since 2007 and is one of the most accredited financial advisors in Canada. He holds the globally recognized Charted Financial Analyst (CFA) designation, passing all three tests on his first attempt. In addition he is a Certified Financial Planner (top 1% of his class), Canadian Investment Manager (CIM), Fellow of the Canadian Securities Institute (FSCI) and a Chartered Strategic Wealth Professional (CSWP).
Sheena Sanders
Wealth Planning Specialist, Valley First
Sheena meets every client with a fervent desire to create a uniquely remarkable experience. As an accredited Certified Financial Planner, a Registered Retirement Consultant and a Responsible Investment Specialist, her array of knowledge and experience means that Sheena leave no question unanswered and no opportunity ignored. For people who seek help with retirement, education, investment, and succession planning, Sheena is a natural person to have on their team. Clients benefit from her strategic approach and “big picture” mindset that incorporates tax optimization ESG principals and integration.
Kevin Lehman
Assistant Branch Manager, Envision Financial
When asked who has made the biggest impact in your life, does your financial advisor come to mind? If you've met Envision Financial Assistant Branch Manager, Kevin Lehman, he's likely in your top five personal game-changers. After attending the University of the Fraser Valley, Kevin sought new opportunities that led him to begin his career with Envision Financial, a division of First West Credit Union. And it is here that his "seize the day" approach to life propelled him to complete the Canadian Investment Funds Course, receive his mutual fund license and join the management team within five years. Today, as Kevin continues to pursue his Personal Financial Planner designation, he coaches a team of advisors to make a lasting impression on people's wellbeing.
THIS WEEK: A couple making the move to BC were quickly getting caught up in a bidding war for that “perfect property.” Our experts discuss the prevalence of competitive offers in a hot housing market and strategies to handle – or avoid – falling prey to this financial trap.
WealthBeing’s mini Money Problem episodes share a real financial challenge or question from our members, clients, or listeners – and the advice our experts provided to help. Learn from their experience and you’ll be prepared to make the best financial decisions for your pocketbook.
Do you have a Money Problem you’d like our help with? You can contact Kevin, Sheena and Travis with your question at wealthbeing@firstwestcu.ca. We will get back to you with an answer.
Or visit any of our Island Savings, Envision Financial, or Valley First locations to talk with an advisor who will provide personal financial advice.
Our WealthBeing Hosts
Travis Koivula
B.Eng, CFA, CFP®, CIM, FCSI, CIWM
Senior Wealth Advisor | Senior Investment Advisor
Island Savings Insurance Services | Credential Securities
Travis has been serving the financial needs of members in the Credit Union system since 2007 and is one of the most accredited financial advisors in Canada. He holds the globally recognized Charted Financial Analyst (CFA) designation, passing all three tests on his first attempt. In addition he is a Certified Financial Planner (top 1% of his class), Canadian Investment Manager (CIM), Fellow of the Canadian Securities Institute (FSCI) and a Chartered Strategic Wealth Professional (CSWP).
Sheena Sanders
Wealth Planning Specialist, Valley First
Sheena meets every client with a fervent desire to create a uniquely remarkable experience. As an accredited Certified Financial Planner, a Registered Retirement Consultant and a Responsible Investment Specialist, her array of knowledge and experience means that Sheena leave no question unanswered and no opportunity ignored. For people who seek help with retirement, education, investment, and succession planning, Sheena is a natural person to have on their team. Clients benefit from her strategic approach and “big picture” mindset that incorporates tax optimization ESG principals and integration.
Kevin Lehman
Assistant Branch Manager, Envision Financial
When asked who has made the biggest impact in your life, does your financial advisor come to mind? If you've met Envision Financial Assistant Branch Manager, Kevin Lehman, he's likely in your top five personal game-changers. After attending the University of the Fraser Valley, Kevin sought new opportunities that led him to begin his career with Envision Financial, a division of First West Credit Union. And it is here that his "seize the day" approach to life propelled him to complete the Canadian Investment Funds Course, receive his mutual fund license and join the management team within five years. Today, as Kevin continues to pursue his Personal Financial Planner designation, he coaches a team of advisors to make a lasting impression on people's wellbeing.
Some financial topics are easy to discuss with your loved ones – while other money matters are easily forgotten (or avoided). This week Kevin, Sheena and Travis talk with Harpreet Grewal, Envision Financial Branch Manager, about tips and scenarios that you can learn from to have productive financial conversations with your own family.
1:40 What’s hot in money: Important financial dates you don’t want to miss.
4:30 Expert Examination:
· What to know before approaching a financial conversation with family.
· Ways to talk to children about money throughout their childhood.
· Matters that are meaningful to every partnership.
· To bail out your family financially – or not?
· Handling conversations about estate planning.
· Subjects that you could – and should – discuss with your family.
· Would a financial advisor make money conversations easier?
38:00 Financial Fix: Think ahead this week and make sure the people who might inherit from you are aware and prepared.
Take the Financial Times money psychology quiz: https://ig.ft.com/sites/quiz/psychology-of-money/
If you have an undiagnosed financial concern or want to better understand a financial subject, send Kevin, Sheena and Travis your question at wealthbeing@firstwestcu.ca, and we will consider it for a future episode.
On every episode
Being in good financial health makes you feel at ease every day. You are free to pursue your goals and prepared to manage your future needs. Could your pocketbook be in better shape?
If life has thrown you a financial curveball, or if you just want to be more in control of your money, tune-in to WealthBeing. Every week, we diagnose a spending, saving, borrowing, investing, or other financial problem to provide simple advice that can help you thrive.
You’ll hear about real-life financial challenges that our Island Savings, Envision Financial, and Valley First hosts, expert guests and our members have encountered. We’ll share the time-tested financial solutions we recommend to members. And every week you’ll receive a simple strategy that you can use right away to improve your financial health.
Our WealthBeing Hosts
Travis Koivula
B.Eng, CFA, CFP®, CIM, FCSI, CIWM
Senior Wealth Advisor | Senior Investment Advisor
Island Savings Insurance Services | Credential Securities
Travis has been serving the financial needs of members in the Credit Union system since 2007 and is one of the most accredited financial advisors in Canada. He holds the globally recognized Charted Financial Analyst (CFA) designation, passing all three tests on his first attempt. In addition he is a Certified Financial Planner (top 1% of his class), Canadian Investment Manager (CIM), Fellow of the Canadian Securities Institute (FSCI) and a Chartered Strategic Wealth Professional (CSWP).
Sheena Sanders
Wealth Planning Specialist, Valley First
Sheena meets every client with a fervent desire to create a uniquely remarkable experience. As an accredited Certified Financial Planner, a Registered Retirement Consultant and a Responsible Investment Specialist, her array of knowledge and experience means that Sheena leave no question unanswered and no opportunity ignored. For people who seek help with retirement, education, investment, and succession planning, Sheena is a natural person to have on their team. Clients benefit from her strategic approach and “big picture” mindset that incorporates tax optimization ESG principals and integration.
Kevin Lehman
WealthBeing’s mini Money Problem episodes share a real financial challenge or question from our members, clients, or listeners and the advice our experts provided to help. Learn from their experience and you’ll be prepared to make the best financial decisions for your pocketbook.
THIS WEEK: After being auto-enrolled in Old Age Security, Travis’ clients sat down for a planning meeting and got a potentially costly surprise. Our experts discuss the pros and cons of auto-enrollment and what you should know before drawing your OAS.
Do you have a Money Problem you’d like our help with? You can contact Kevin, Sheena and Travis with your question at wealthbeing@firstwestcu.ca. We will get back to you with an answer.
Our WealthBeing Hosts
Travis Koivula
B.Eng, CFA, CFP®, CIM, FCSI, CIWM
Senior Wealth Advisor | Senior Investment Advisor
Island Savings Insurance Services | Credential Securities
Travis has been serving the financial needs of members in the Credit Union system since 2007 and is one of the most accredited financial advisors in Canada. He holds the globally recognized Charted Financial Analyst (CFA) designation, passing all three tests on his first attempt. In addition he is a Certified Financial Planner (top 1% of his class), Canadian Investment Manager (CIM), Fellow of the Canadian Securities Institute (FSCI) and a Chartered Strategic Wealth Professional (CSWP).
Sheena Sanders
Wealth Planning Specialist, Valley First
Sheena meets every client with a fervent desire to create a uniquely remarkable experience. As an accredited Certified Financial Planner, a Registered Retirement Consultant and a Responsible Investment Specialist, her array of knowledge and experience means that Sheena leave no question unanswered and no opportunity ignored. For people who seek help with retirement, education, investment, and succession planning, Sheena is a natural person to have on their team. Clients benefit from her strategic approach and “big picture” mindset that incorporates tax optimization ESG principals and integration.
Kevin Lehman
Assistant Branch Manager, Envision Financial
When asked who has made the biggest impact in your life, does your financial advisor come to mind? If you've met Envision Financial Assistant Branch Manager, Kevin Lehman, he's likely in your top five personal game-changers. After attending the University of the Fraser Valley, Kevin sought new opportunities that led him to begin his career with Envision Financial, a division of First West Credit Union. And it is here that his "seize the day" approach to life propelled him to complete the Canadian Investment Funds Course, receive his mutual fund license and join the management team within five years. Today, as Kevin continues to pursue his Personal Financial Planner designation, he coaches a team of advisors to make a lasting impression on people's wellbeing.
Money might be a universal need, but how we relate to financial choices and experiences is unique. With Valentine’s Day approaching, Kevin, Sheena and Travis talk with Susan Coulson, Director of Special Accounts at First West Credit Union, about the relationships we have with money and how that knowledge can better our lives and our partnerships.
2:25 | What’s hot in money: An online forum and good intentions are shaking up the investment world.
8:00 | Expert Examination:
· What does it mean to have a relationship with money and why should we want to know?
· The money motivations that reveal your financial relationship status.
· How you develop your relationship to money.
· Ways that your, and your partner’s, financial motivations can impact your happiness.
· Should you try to change your relationship to money?
34:00 | Financial Fix: If you’ll be spending time reflecting on your partnership this Valentine’s Day, Sheena has an activity for you both that could deepen your connection.
Take the Financial Times money psychology quiz
If you have an undiagnosed financial concern or want to better understand a financial subject, send Kevin, Sheena and Travis your question at wealthbeing@firstwestcu.ca, and we will consider it for a future episode.
YOUR WEALTHBEING HOSTS
Travis Koivula
B.Eng, CFA, CFP®, CIM, FCSI, CIWM
Senior Wealth Advisor | Senior Investment Advisor
Island Savings Insurance Services | Credential Securities
Travis has been serving the financial needs of members in the Credit Union system since 2007 and is one of the most accredited financial advisors in Canada. He holds the globally recognized Charted Financial Analyst (CFA) designation, passing all three tests on his first attempt. In addition he is a Certified Financial Planner (top 1% of his class), Canadian Investment Manager (CIM), Fellow of the Canadian Securities Institute (FSCI) and a Chartered Strategic Wealth Professional (CSWP).
Sheena Sanders
Wealth Planning Specialist, Valley First
Sheena meets every client with a fervent desire to create a uniquely remarkable experience. As an accredited Certified Financial Planner, a Registered Retirement Consultant and a Responsible Investment Specialist, her array of knowledge and experience means that Sheena leave no question unanswered and no opportunity ignored. For people who seek help with retirement, education, investment, and succession planning, Sheena is a natural person to have on their team. Clients benefit from her strategic approach and “big picture” mindset that incorporates tax optimization ESG principals and integration.
Kevin Lehman
Assistant Branch Manager, Envision Financial
When asked who has made the biggest impact in your life, does your financial advisor come to mind? If you've met Envision Financial Assistant Branch Manager, Kevin Lehman, he's likely in your top five personal game-changers. After attending the University of the Fraser Valley, Kevin sought new opportunities that led him to begin his career with Envision Financial, a division of First West Credit Union. And it is here that his "seize the day" approach to life propelled him to complete the Canadian Investment Funds Course, receive his mutual fund license and join the management team within five years. Today, as Kevin continues to pursue his Personal Financial Planner designation, he coaches a team of advisors to make a lasting impression on people's wellbeing.
There are times when you want to shake up your life – or it gets shook for you. Our pocketbooks aren’t impervious to life changes, so this week, Derrick and Travis are talking about how to handle financial changes – and a change that WealthBeing is taking – with our colleagues at Valley First, Sheena Sanders, and Envision Financial, Kevin Lehman. Listen in to hear how they handle financial transitions.
1:10 Money Problem: Someone dropped in on Travis with a story of financial woe – but hesitation to make any changes.
3:25 Expert Examination: Travis, Derrick, Sheena and Kevin get into the changes you can expect to make in life – and how to transition successfully:
· What kind of change is significant to signal a financial transition?
· Becoming financially independent.
· The financial impact of a new career.
· Handling a change of home.
· Financial tips for family fluctuations.
· Cash challenges for couples.
· Transitioning through age.
· WealthBeing is transitioning to expand your financial savvy.
23:15 Weekly Financial Fix: If you’ve got a change happening, this week’s task will make sure you have back-up to get through it with support.
If you have an undiagnosed financial concern or want to better understand a financial subject, send Travis and Derrick your question at islandsavings.ca/wealthbeing, or at wealthbeing@firstwestcu.ca, and we will consider it for a future episode.
On every episode
Being in good financial health makes you feel at ease every day. You are free to pursue your goals and prepared to manage your future needs. Could your pocketbook be in better shape?
If life has thrown you a financial curveball, or if you just want to be more in control of your money, tune-in to WealthBeing. Every week, we diagnose a spending, saving, borrowing, investing, or other financial problem to provide simple advice that can help you thrive.
You’ll hear about real-life financial challenges that our Island Savings hosts, guests and members have encountered. We’ll share the time-tested financial solutions we recommend to members. And every week you’ll receive a simple strategy that you can use right away to improve your financial health.
We often think of RRSPs, TFSAs and taxes as easy tools to save some money. But you may be missing some strategic decisions – or making some mistakes - that affect your pocketbook. This week, Derrick and Travis talk with Doug Carroll, Tax & Estate Specialist at Aviso Wealth, about smart tax-linked savings decisions you can make in 2021.
1:10 Money Problem: When one of Travis’ clients we transitioning to retirement, their savings and tax plan suddenly called for an overhaul.
3:00 Expert Examination: Travis, Derrick and Doug reveal the financial choices you’ll face this year that can affect your tax outcome:
- How to use an RRSP as a tax advantage – and mistakes many people are making.
- When a TFSA is a better savings option than an RRSP.
- Why there’s no single-source savings strategy.
- Should you choose a beneficiary or successor for your registered savings accounts?
- Tax strategies for families to follow.
- Special tax options for seniors.
23:15 Weekly Financial Fix: If you’re always rushing to file your taxes, Travis’ task this week will eliminate your panic.
If you have an undiagnosed financial concern or want to better understand a financial subject, send Travis and Derrick your question at islandsavings.ca/wealthbeing, or at wealthbeing@firstwestcu.ca, and we will consider it for a future episode.
On every episode
Being in good financial health makes you feel at ease every day. You are free to pursue your goals and prepared to manage your future needs. Could your pocketbook be in better shape?
If life has thrown you a financial curveball, or if you just want to be more in control of your money, tune-in to WealthBeing. Every week, we diagnose a spending, saving, borrowing, investing, or other financial problem to provide simple advice that can help you thrive.
You’ll hear about real-life financial challenges that our Island Savings hosts, guests and members have encountered. We’ll share the time-tested financial solutions we recommend to members. And every week you’ll receive a simple strategy that you can use right away to improve your financial health.
What do tulips, tech, and Tesla all have in common? They are all examples of how one of the most precarious investment events–assets bubbles–affect our financial health. Most of us have been tempted to “get in on the game” when a sector or stock rises steeply, which is why Derrick and Travis invited Island Savings’ Director of Wealth, Robin Marshall, for a conversation about how to manage your money when an asset bubble could pop-up up at any moment.
1:10 Money Problem: When a client of Derrick’s got excited by the investment growth his friends were making on cannabis stocks, he wanted to jump into a risky trading pool.
3:20 Expert Examination: Travis, Derrick and Robin examine asset bubbles of the past to learn how they happen, and how to handle them:
· Defining an asset bubble.
· How asset bubbles are created.
· Famous asset bubbles.
· What happens to an asset bubble after the peak?
· Should you avoid investing in an asset bubble or can it be strategic?
· What to do if you’re trapped in a bubble?
23:20 Weekly Financial Fix: Before you throw all your savings into the “hot new investment,” Travis has a tip that will help you consider how you’ll cope if things don’t turn out well.
If you have an undiagnosed financial concern or want to better understand a financial subject, send Travis and Derrick your question at islandsavings.ca/wealthbeing, or at wealthbeing@firstwestcu.ca, and we will consider it for a future episode.
On every episode
Being in good financial health makes you feel at ease every day. You are free to pursue your goals and prepared to manage your future needs. Could your pocketbook be in better shape?
If life has thrown you a financial curveball, or if you just want to be more in control of your money, tune-in to WealthBeing. Every week, we diagnose a spending, saving, borrowing, investing, or other financial problem to provide simple advice that can help you thrive.
Our WealthBeing Hosts
Travis Koivula
B.Eng, CFA, CFP®, CIM, FCSI, CIWM
Senior Wealth Advisor | Senior Investment Advisor
Island Savings Insurance Services | Credential Securities
Travis has been serving the financial needs of members in the Credit Union system since 2007 and is one of the most accredited financial advisors in Canada. He holds the globally recognized Charted Financial Analyst (CFA) designation, passing all three tests on his first attempt. In addition he is a Certified Financial Planner (top 1% of his class), Canadian Investment Manager(CIM), Fellow of the Canadian Securities Institute(FSCI) and a Chartered Strategic Wealth Professional(CSWP).
Derrick Sketchley
Branch Manager, Island Savings, Westshore
From work to play, Derrick is always helping people live well. As manager of Island Savings' Westshore branch, he leads a team to help members become educated and feel confident about their financial picture. Throughout his eight-year career in the financial industry, Derrick has helped people understand how to set and meet goals that take care of their immediate needs, family finances, long-term aspirations, and retirement. He believes that simple financial planning starts with trusted advice, and leads to a more fulfilling life.
Ask Derrick for help and he'll give you 110%, believing that the result of his effort will pay-off in multitudes. Whether he is helping his family, friends, or Island Savings' members, Derrick is always happiest when he's making a difference. He believes that a strong community leads to stronger, happier individuals.
How much money could you save – or earn – this year by asking a few questions? This week, Derrick and Travis invited Don Presley, Senior Manager of Special Accounts at First West Credit Union, to talk about how and when to flex your negotiating skills. Find out how to have even more control over your finances with these tips.
1:20 Money Problem: Travis recounts a time when a couple was presented with a negotiation scenario that would win or lose them their dream home.
3:00 Expert Examination: Travis, Derrick and Don reveal simple strategies that will help you navigate a negotiation:
- Is negotiating a special talent?
- What stops many people from negotiating.
- Using conversation to improve your results.
- Setting the right expectations for your negotiation.
- Things to do before your negotiation begins.
- Questions, methods, and the mindset that can improve your negotiating success.
23:10 Weekly Financial Fix: During the January shopping lull, Travis encourages you to start building a negotiating habit.
If you have an undiagnosed financial concern or want to better understand a financial subject, send Travis and Derrick your question at islandsavings.ca/wealthbeing, or at wealthbeing@firstwestcu.ca, and we will consider it for a future episode.
We’ve all felt some money stress about affording an expense or saving for a goal, but the ties between financial and mental health run even deeper than these obvious needs. This week, Derrick and Travis are talking with Kabir Bhagaria, Manager of Employee Health and Safety at First West Credit Union, about how your mind creates behaviours and responds to influences that ultimately shape your financial wellbeing.
1:40 Money Problem: Travis’ client never really mastered the art of budgeting, so when a big inheritance came along, they had an opportunity to change their outlook on financial management.
4:00 Expert Examination: Travis, Derrick and Kabir get into the way the way you think affects your pocketbook – and vice versa:
- The impact of financial concerns on happiness.
- Signs that money is affecting your mental health.
- Fallout from financial stress.
- Creating conditions to make good financial decisions.
- What to do when other people’s money problems affect your mental health.
- Recognizing and managing mental triggers that affect your financial actions.
23:00 Weekly Financial Fix: 2021 can be the year you worry less about money with Travis’ simple financial task.
If you have an undiagnosed financial concern or want to better understand a financial subject, send Travis and Derrick your question at islandsavings.ca/wealthbeing, or at wealthbeing@firstwestcu.ca, and we will consider it for a future episode.
With so many ways to manage your money, it’s can be hard to know which advice is best. This week, Derrick and Travis talk with Island Savings’ Branch Manager, Barb Fabian, about figuring out which financial habits and practices will help you stay on track.
1:25 Money Problem: A client of Derrick’s had a tried-and-true financial rule that was keeping him from building his wealth for retirement.
3:30 Expert Examination: Travis, Derrick and Barb discuss the value of setting financial rules and how to define your own:
- What a financial rule can help you accomplish.
- How to know when you need a financial rule.
- Financial rules that work for many people.
- Choosing financial rules for yourself.
- Financial rules for families to consider.
- When to change a financial rule.
23:35 Weekly Financial Fix: Travis has a task that will help you identify financial rules that are failing you – and replace them with something that works.
If you have an undiagnosed financial concern or want to better understand a financial subject, send Travis and Derrick your question at islandsavings.ca/wealthbeing, or at wealthbeing@firstwestcu.ca, and we will consider it for a future episode.
It’s not unusual to forget to pay a bill, or overspend once or twice, but there are certain financial mistakes that could worsen your financial health. This week, Derrick and Travis are talking with one of Island Savings’ most experienced financial experts, Brad Lesiuk, about how to avoid or escape making a costly financial mistake.
1:25 Money Problem: When Derrick worked in England, he was faced with the challenge of helping a client clear up a financial mistake and reunite a family.
4:10 Expert Examination: Travis, Derrick and Brad unearth the most common financial mistake and how you can avoid them:
- The difference between minor errors and significant mistakes.
- A common oversight of homeowners.
- The fall-out from divorce.
- Investing in the time-share dream.
- Many ways that relocating impacts your financial plan.
- How thinking you’re invincible is a financial threat.
- What to do if you’ve made a financial mistake.
23:15 Weekly Financial Fix: the holidays are a great time to reset your financial thinking, and Travis challenges you to ponder some useful financial questions.
If you have an undiagnosed financial concern or want to better understand a financial subject, send Travis and Derrick your question at islandsavings.ca/wealthbeing, or at wealthbeing@firstwestcu.ca, and we will consider it for a future episode.
If you find yourself feeling financial pressure during – or following – the holiday season, Derrick and Travis want to help you identify where your spending is leading to stress. This week’s tips will help you feel merry about how you spend your money.
1:45 Money Problem: Derrick met a member whose was haunted by the ghost of holiday spending stress.
2:40 Expert Examination: Travis and Derrick aren’t immune to holiday spending traps – but they have learned how to recognize and manage their money, leading to a happier New Year:
- Holiday traps that you’ll encounter before you even start shopping.
- How to decide an amount to budget for the holidays.
- Why equivalent gift-giving can blow your budget.
- Online shopping traps.
- Deal or no-good deal? How to identify traps that will encourage you to spend too much.
- Dealing with gift-giving expectations.
23:30 Weekly Financial Fix: With a pen and paper, you can follow Travis’ task to identify the holiday spending traps that are most likely to catch you – and plan to avoid them this year.
If you have an undiagnosed financial concern or want to better understand a financial subject, send Travis and Derrick your question at islandsavings.ca/wealthbeing, or at wealthbeing@firstwestcu.ca, and we will consider it for a future episode.
Whether you want to help yourself or others be better with money, the time you invest in scaling-up your financial expertise has great value. For our conversation during Financial Literacy Month, Derrick and Travis are talking to Island Savings’ Branch Manager, Brooklyn Mann, about how – with a little effort – anyone can become an expert in their own finances or as a career path.
1:00 Money Problem: After receiving a LinkedIn message, Derrick’s advice to an eager graduate helped him accelerate his financial expertise and his career.
3:30 Expert Examination: Travis, Derrick and Brooklyn discuss how they developed their financial expertise and the strategies that others can use to expand their knowledge:
- What it means to be an expert in your own finances, and why it’s the right time to take action.
- Are financial experts naturally talented at math?
- Resources that can expand your expertise over your money – and how to identify good sources of information.
- How Brooklyn, Derrick and Travis became professional financial experts.
- What you need to know to build a career in banking and investments.
23:50 Weekly Financial Fix: This week, Travis has an easy task that will connect you with a resource to further your own financial expertise.
If you have an undiagnosed financial concern or want to better understand a financial subject, send Travis and Derrick your question at islandsavings.ca/wealthbeing, or at wealthbeing@firstwestcu.ca, and we will consider it for a future episode.
No one is an expert at everything – but how skilled are you at making financial decisions? It’s Financial Literacy Month, and this week our WealthBeing hosts are talking with Island Savings’ Branch Manager, Evan Yuan, about what it means to be “bad” with money – and how to make confident, wise decisions instead.
1:40 Money Problem: When Derrick heard about a new clients’ financial history, he discovered that his awareness and mindset about money was preventing him from even trying to reach his financial goals.
4:15 Expert Examination: Travis, Derrick and Evan identify the signs of poor money habits and strategies to be “good” with your money:
- Why people think they are “bad” with money.
- Identifying poor money habits.
- How to make financial decisions that serve you well.
- Resources to self-coach yourself into smart money management.
- How a financial advisor can kick-start your financial wellbeing.
- Recovering from a financial failure.
23:15 Weekly Financial Fix: Travis has one easy way to be good with your money – and avoid temptation – this week.
If you have an undiagnosed financial concern or want to better understand a financial subject, send Travis and Derrick your question at islandsavings.ca/wealthbeing , or at wealthbeing@firstwestcu.ca, and we will consider it for a future episode.
One of the best ways to become more financially savvy is to learn about what has worked for those who have reached the same goals. This week, our WealthBeing hosts are giving you a review of six books by well-known financial experts on topics from personal finances to building wealth. Listen to find out how these books will help you improve your financial literacy.
1:15 Money Problem: When Travis’ client suddenly had to take over the family finances, she needed a solid influx of know-how.
2:30 Expert Examination: Derrick and Travis discuss how a book can uplift your financial knowledge:
- Financial book review: “Happy Money: The New Science of Smarter Spending” by Elizabeth Dunn and Michael Norton.
- Financial book review: “Financially Ever After: The Couples' Guide to Managing Money” by Jeff D. Opdyke.
- Financial book review: “Think and Grow Rich” by Napoleon Hill.
- Financial book review: “The Richest Man in Babylon” by George S. Clason
- Financial book review: The Snowball: Warren Buffett and the Business of Life” by Alice Schroeder.
- Financial book review: "One Up on Wall Street” by John Rothchild and Peter Lynch.
- Where to find and how to choose a good financial read.
28:00 Weekly Financial Fix: Travis encourages you to explore financial literacy that will help you achieve your goals.
If you have an undiagnosed financial concern or want to better understand a financial subject, send Travis and Derrick your question at islandsavings.ca/wealthbeing, or at wealthbeing@firstwestcu.ca, and we will consider it for a future episode.
It’s Financial Literacy Month during November, which means that it’s time to examine some topics that help people become much more savvy about their money. One of the best skills that you can have is the ability to seize the right financial opportunities. This week, Travis and Derrick have invited Blake Ellis, Investment Advisor for Credential Securities and Senior Wealth Advisor at Island Savings Wealth Management, to talk about their experiences and expertise when it comes to evaluating the good, bad, and unknown of a financial opportunity.
1:20 – Money Problem: Travis’ client inherited more money than they ever had before. The opportunities for real estate versus stock investments abounded and they couldn’t make the right choice on their own.
3:40 Expert Examination: Derrick, Travis and Blake pull back the curtain on their own successes, challenges and the principles they’ve learned to find good financial opportunities:
- Financial opportunities that turned out well.
- Decisions that didn’t pay off.
- Missed opportunities.
- Types of financial opportunities you’ll likely encounter.
- Red flags for a poor investment opportunity – and the signs of a diamond in the rough.
- How to get off the fence about a financial opportunity.
- Bouncing back from a financial fail.
- Understanding your risk tolerance.
- How to position yourself for a good financial opportunity.
29:15 – Weekly Financial Fix: With a little reflection on past hits, misses, and fails, Travis has a task to help you prepare for a winning future financial opportunity.
If you have an undiagnosed financial concern or want to better understand a financial subject, send Travis and Derrick your question at islandsavings.ca/wealthbeing, or at wealthbeing@firstwestcu.ca, and we will consider it for a future episode.
When it comes to your financial health, sometimes it pays to be afraid. From creeping interest rates to being haunted by poor decision-making about managing your money, the are many financial boogeymen to avoid. This week, Travis and Derrick are talking about some healthy financial fears with one of Island Savings most established financial experts, Ruth Saunders, Assistant Manager at our Mayfair branch. Take heed of their advice and you’ll live with less financial fear.
1:30 – Money Problem: Derrick met a couple who came into a significant amount of money, but they still lived in financial fear. Not for their own wellbeing – they were afraid for their kids who hadn’t learned how to protect their financial health.
4:00 Expert Examination: Derrick, Travis and Ruth uncover specific financial situations that should be cause for concern – and how to avoid getting caught in the trap:
- Having enough spending control.
- Thinking a bad credit score is no-big-deal.
- Planning only as far as the next paycheque.
- The good and bad of living on borrowed money.
- Investment fears for the ages.
- The scary consequences of not knowing your tax situation.
- How to “insure” you have fewer financial fears.
- Kids, parents, inlaws – should we be afraid of financial dependencies?
- Avoid compounding fear about retirement income.
29:50 – Weekly Financial Fix: It may be simple, but Travis’ advice this week will inspire you to eliminate your financial fears by focusing where it matters most.
If you have an undiagnosed financial concern or want to better understand a financial subject, send Travis and Derrick your question at islandsavings.ca/wealthbeing, or at wealthbeing@firstwestcu.ca, and we will consider it for a future episode.
Most of the money you save is likely to be spent when you’re enjoying your retirement. But not all our goals are decades away. This week,Travis and Derrick have invited Justin Paniak, Wealth Planning Specialist at Island Savings, to help us evaluate short-term investment options that you can use to grow your money:
1:30 – Money Problem: Travis’ client had some cash in-hand and a desire to quickly pay-off their mortgage, but needed help to avoid losing money to penalties.
3:30Expert Examination: Derrick, Travis and Justindive into the pros and cons of your short-term investing options:
- What classifies an investment as “short.”
- Good reasons to invest your money for a short amount of time.
- Taking a close look at the types of short-term investments you can choose: GICs, real estate, currency, money market accounts, gold and silver, regular savings accounts.
- Tax implications of short-term investments.
- Strategic ways to include short-term investments in your portfolio.
23:00–Weekly Financial Fix: Travis has a recommendation that will help you put to work any money languishing in a short-term investment.
If you have an undiagnosed financial concern or want to better understand a financial subject, send Travis and Derrickyour question at islandsavings.ca/wealthbeing, or at wealthbeing@firstwestcu.ca, and we will consider it for a future episode.
You’ll find plenty of pearls of financial wisdom from celebrity gurus. But how much weight should you give their recommendations about saving, spending and investing? This week, with the help of our debate moderator Annie Nolan, a Senior Financial Advisor at Island Savings, our regular hosts dispute the financial advice from five popular personalities. Will you agree with Travis or Derrick on these important motions:
- Is Bruce Sellery correct that you should avoid investing in gold?
- Do we agree with Suze Orman that co-signing a loan is a no-no?
- Should we follow Tony Robbins advice and make protecting our money the first priority?
- Would Dave Ramsey’s financial advice be the best way to eliminate debt?
- Kevin O’Leary only invests in dividend-paying stocks – should you?
22:50 – Weekly Financial Fix: Travis has three questions to ask yourself to validate the financial advice from a celebrity guru.
If you have an undiagnosed financial concern or want to better understand a financial subject, send Travis and Derrick your question at islandsavings.ca/wealthbeing, or at wealthbeing@firstwestcu.ca, and we will consider it for a future episode.
Our WealthBeing Hosts
Travis Koivula
B.Eng, CFA, CFP®, CIM, FCSI, CIWM
Senior Wealth Advisor | Senior Investment Advisor
Island Savings Insurance Services | Credential Securities
Travis has been serving the financial needs of members in the Credit Union system since 2007 and is one of the most accredited financial advisors in Canada. He holds the globally recognized Charted Financial Analyst (CFA) designation, passing all three tests on his first attempt. In addition he is a Certified Financial Planner (top 1% of his class), Canadian Investment Manager(CIM), Fellow of the Canadian Securities Institute(FSCI) and a Chartered Strategic Wealth Professional(CSWP).
Travis specializes in working with Island Savings members who are US citizens and transferring American assets to Canada. He has extensive experience in retirement income and estate planning and enjoys helping members find ways to maintain a steady income when they are no longer working.
Derrick Sketchley
Branch Manager, Island Savings, Westshore
From work to play, Derrick is always helping people live well. As manager of Island Savings' Westshore branch, he leads a team to help members become educated and feel confident about their financial picture. Throughout his eight-year career in the financial industry, Derrick has helped people understand how to set and meet goals that take care of their immediate needs, family finances, long-term aspirations, and retirement. He believes that simple financial planning starts with trusted advice, and leads to a more fulfilling life.
Derrick's desire to help others thrive extends well beyond his workday. From a young age he involved himself in the community as a volunteer firefighter, Big Brother, advocate for BC Children's Hospital, lead fundraiser for the United Way, and by teaching financial literacy to local schoolchildren.
Ask Derrick for help and he'll give you 110%, believing that the result of his effort will pay-off in multitudes. Whether he is helping his family, friends, or Island Savings' members, Derrick is always happiest when he's making a difference. He believes that a strong community leads to stronger, happier individuals.
Being in charge of your own business means you’re also the boss of your own financial health. For owners and entrepreneurs – and anyone thinking about a new business venture – a traditional financial plans won’t be enough to build wealth. This week, Travis and Derricktalk to Leslie Dheensaw, Commercial Banking Advisorat Island Savings, about strategies to make and manage money as a business owner.
1:00Money Problem:Travis’ friend Kurt had a big dream of owning his own business in Victoria, but wasn’t financially prepared to set-out on his own.
2:50Expert Examination:Derrick, Travis and Leslie reveal the financial factors that help a business person thrive after the nine-to-five:
- How the type of business you own affects your financial choices.
- Earning an income thorough your business.
- Is key person insurance a necessity?
- Choosing the business structure that will protect your financial future.
- Tips for profitable partnerships.
- Funding your first steps as an entrepreneur.
23:40–Weekly Financial Fix:With a little inspection, Travis’ tip this week will help business owners maximize their profit..
If you have an undiagnosed financial concern or want to better understand a financial subject, send Travis and Derrickyour question at islandsavings.ca/wealthbeing, or at wealthbeing@firstwestcu.ca, and we will consider it for a future episode.
Do darker days and rainy mornings have you dreaming of fleeing Canada to a warmer climate for a few months? This week, Travis and Derrickinvite Doug Lawson, a professional accountant with Hutcheson & Co., to talk about the financial factors that you need to know before becoming a snowbird.
1:00Money Problem:Travis’ clients were enjoying so many days as snowbirdsthat they were incurring some financial risk.
2:30Expert Examination:Derrick, Travis and Douginvestigate the financial planning you need to do to enjoy a snowbird lifestyle:
- What it means to live like a snowbird and why fly south for winter.
- How the substantial presence test could complicate your tax situation.
- Managingassets and tax filings in two countries.
- Making sure you can easily access your income when living in the US.
- Will you spend more or less on living expenses as a snowbird?
- Is extra insurance necessary when living part-time outside Canada.
- The best strategies to manage property in two countries.
23:20–Weekly Financial Fix:A simply phone call that can protect your property and financial health.
If you have an undiagnosed financial concern or want to better understand a financial subject, send Travis and Derrickyour question at islandsavings.ca/wealthbeing, or at wealthbeing@firstwestcu.ca, and we will consider it for a future episode.
How has your thinking about investments changed over the years – or even this year? Our risk tolerance never stays the same, and this week, Travis and Derrick continue a conversation with Yufei Man, Director of Asset Allocation and Investment Strategy at Northwest and Ethical Investments, about how to make the best investment decisions in 2020 and beyond.
2:00 Money Problem: Like many people in 2020, Travis’ client was getting cold feet about keeping his money invested this year.
3:45 Expert Examination: Derrick, Travis and Yufei Man dive into how our mindset can help or hinder our investment efforts:
- Pros and cons: investing in guaranteed investments only.
- Willingness and ability – how to discover your own risk tolerance.
- Why you’ll always be behind trying to “time the market.”
- The market outlook for 2020 and 2021.
- Will Canada’s debt burden drown market growth?
- Managing the mental stress of changing markets.
23:20 – Weekly Financial Fix: If the markets are messing with your positive outlook about investing, Travis has an easy suggestion to restore your confidence.
If you have an undiagnosed financial concern or want to better understand a financial subject, send Travis and Derrick your question at islandsavings.ca/wealthbeing, or at wealthbeing@firstwestcu.ca, and we will consider it for a future episode.
On every episode
Being in good financial health makes you feel at ease every day. You are free to pursue your goals and prepared to manage your future needs. Could your pocketbook be in better shape?
If life has thrown you a financial curveball, or if you just want to be more in control of your money, tune-in to WealthBeing. Every week, we diagnose a spending, saving, borrowing, investing, or other financial problem to provide simple advice that can help you thrive.
Our WealthBeing Hosts
Travis Koivula
B.Eng, CFA, CFP®, CIM, FCSI, CIWM
Senior Wealth Advisor | Senior Investment Advisor
Island Savings Insurance Services | Credential Securities
Travis has been serving the financial needs of members in the Credit Union system since 2007 and is one of the most accredited financial advisors in Canada. He holds the globally recognized Charted Financial Analyst (CFA) designation, passing all three tests on his first attempt. In addition he is a Certified Financial Planner (top 1% of his class), Canadian Investment Manager(CIM), Fellow of the Canadian Securities Institute(FSCI) and a Chartered Strategic Wealth Professional(CSWP).
Born and raised in Kamloops, Travis completed his Bachelor of Engineering degree at the University of Victoria and developed strong ties to the Capital region. Inspired by the work of Warren Buffett and Peter Lynch, he switched paths and turned his hobby and love of investment strategy into a career. Travis specializes in working with Island Savings members who are US citizens and transferring American assets to Canada. He has extensive experience in retirement income and estate planning and enjoys helping members find ways to maintain a steady income when they are no longer working.
Derrick Sketchley
Branch Manager, Island Savings, Westshore
From work to play, Derrick is always helping people live well. As manager of Island Savings' Westshore branch, he leads a team to help members become educated and feel confident about their financial picture. Throughout his eight-year career in the financial industry, Derrick has helped people understand how to set and meet goals that take care of their immediate needs, family finances, long-term aspirations, and retirement. He believes that simple financial planning starts with trusted advice, and leads to a more fulfilling life.
Derr
The way we think about money has a lot to do with our success at building wealth. But making a good decision is difficult when the markets seem to turn on a dime. In part one of this conversation, Travis and Derrickinvite Yufei Man, Director of Asset Allocation and Investment Strategyat Northwest and Ethical Investments,to talk about the factors that affect your investment decisions.
1:30 Money Problem:In 2008, a couple of Travis’ clients had just retired when the great recession happened. They were losing sleep and wondered if they should sell all their investments to stay secure.
4:30 Expert Examination:Derrick, Travis and Yufei Mandive into how our mindset can help or hinder our investment efforts:
- The type of mindsets that lead to investment failure or success.
- Investment strategies you can use to take advantage of market blips.
- Why emotional decision-makingleads you toward poor investment decisions.
- Recognizing normal vs significant market fluctuations.
- Our mindset on money in 2020.
22:25–Weekly Financial Fix:Travis has a proactive challenge that will help you eliminate emotional decision-making when it comes to your investing choices.
If you have an undiagnosed financial concern or want to better understand a financial subject, send Travis and Derrickyour question at islandsavings.ca/wealthbeing, or at wealthbeing@firstwestcu.ca, and we will consider it for a future episode.
You’ve saved your money,made a bucket list, and it’s finally time to retire.Are you prepared to flip the switch on your financial plan?This week, Travis and Derrickinvite Island SavingsWealth Planning Specialist, Jamal Al-Hashemi, to talk about how your financial plan and habits change to accommodate your retirement lifestyle.
1:10Money Problem:When Travis’ clients entered retirement their sources of income changed dramatically, making budgeting a new challenge.
4:00Expert Examination:Derrick, Travis and Jamal Al-Hashemi talk about how to make sure your money helps you thrive in retirement:
- Do you need to drastically change your budget when you retire?
- Two types of inflation to plan for.
- New expenses to expect, old expenses to forget, and what to do about debt.
- Managing multiple income sources – when and where to draw money while retired.
- Tips to minimize taxes.
- Shifting your investment strategy.
- How your Financial Advisor can help you prepare for retirement.
23:00–Weekly Financial Fix:One easy way to adjust your retirement budget is to start with spending. Travis has a challenge this week that can save you money for years.
If you have an undiagnosed financial concern or want to better understand a financial subject, send Travis and Derrickyour question at islandsavings.ca/wealthbeing, or at wealthbeing@firstwestcu.ca, and we will consider it for a future episode.
One way to have a happy retirement is to make sure you never have to worry about having enough money.This week, Travis and Derricktalk to Robin Marshall, Director of Wealth Management at Island Savings, about how have a rich retirement lifestyle.
1:00Money Problem:A couple needed help to know if their income and assets would be enough for them to live their dreams during their retirement.
2:50Expert Examination:Derrick, Travis and Robin Marshall cover all the factors that will help you live a rich lifestyle when you retire:
- What it means to retire rich.
- Knowing how much money you need to retire rich.
- Expecting your spending to change.
- Strategies that lead to retirement wealth.
- How aggressive you should be about saving for retirement.
- The saving power of staying the course.
- Making extra income a path to a rich retirement.
- How a Financial Advisor can help expedite your rich retirement.
23:00–Weekly Financial Fix:Travis has a simple task that is the first step to retiring rich.
If you have an undiagnosed financial concern or want to better understand a financial subject, send Travis and Derrickyour question at islandsavings.ca/wealthbeing, or at wealthbeing@firstwestcu.ca, and we will consider it for a future episode.
Thinking about retirement fills most of us with glee – followed by a bit of uncertainty when it comes to affording our lifestyle. We think that CPP, OAS and company pensions will be there as income options, but just how much financial support can we expect from them? This week, Travis and Derrick invited Island Savings’ Director of Retail Banking, Lorena Milkert, to talk about relying on and making the most of your pension income.
1:05 Money Problem:Travis was called to help a member who was left with a big pension decision after changing employers.
3:00 Expert Examination:Travis, Derrick and Lorena simplify one of the most mysterious financial matters:
- The purpose and longevity of the Canadian Pension Plan (CPP).
- Canada’s pension “freebie:”Old Age Security.
- Common types of company pensions, and how to make them part of your total investment plan.
- Calculating how much money will your pensions provide.
- How to decide the best time to draw your pensions.
- What happens with your Government pensions if you are: self-employed; widowed;new to Canada.
- Can you live on CPP and OAS alone?
26:40–Weekly Financial Fix:If you’ve changed employers during your career, Travis has a simple task to make sure your pension savings are working as hard as you are to build retirement wealth.
If you have an undiagnosed financial concern or want to better understand a financial subject, send Travis and Derrickyour question at islandsavings.ca/wealthbeing, or at wealthbeing@firstwestcu.ca, and we will consider it for a future episode.
Be they short- or long-term we all have some life goals in mind that hinge on our ability to find the money! Travis and Derrick talk to members every day about their dreams and how to afford them, so in this episode, they are examining seven of the most common financial life goals to let you know how to turn the dream into reality.
1:15Money Problem: A member who was stuck with a negative credit historycame to Derrick for help with a financial life goal he couldn’t manage to achieve.
2:30Expert Examination:Travis and Derrick share seven stories about how their members and clients achieved financial life goals:
- Goal: a life of travel!
- Goal: become a homeowner.
- Goal: never worry about having enough money!
- Goal: being savvy at managing money.
- Goal: improve your credit rating.
- Goal: using money to make a difference.
- Goal: retiring young!
22:25–Weekly Financial Fix:Travis has a simple task that will help you maintain focus and motivation to achieve a financial life goal.
If you have an undiagnosed financial concern or want to better understand a financial subject, send Travis and Derrickyour question at islandsavings.ca/wealthbeing, or at wealthbeing@firstwestcu.ca, and we will consider it for a future episode.
One of the best ways to build wealth is to be smart about borrowing money.That’s why Derrick and Travishad a conversation with Stephanie Brownlow, a Senior Financial Advisor – and budgeting guru – at Island Savings. They examine the lending options you’re likely to encounter, how to use them to your advantage, and which borrowing options to avoid.
1:15Money Problem: Derrick’s client was in a debt spiral and feared bankruptcy would be his last resort.
3:20Expert Examination:Travis, Derrick and Stephanie Brownlowcompare and contrast lending options that can aid your financial health:
- Advantages of secured lending.
- Loans attached to your home.
- Driving a good deal for an auto loan.
- Lending options to help you learn.
- A case for being cautious about payday loans and peer-to-peer lending.
- Loans that lessen your debt – how get to help with consolidation.
23:25–Weekly Financial Fix:Travis has a simple tip that could help you pay less loan interest and be debt free faster!
If you have an undiagnosed financial concern or want to better understand a financial subject, send Travis and Derrickyour question at islandsavings.ca/wealthbeing, or at wealthbeing@firstwestcu.ca, and we will consider it for a future episode.
When it comes to putting a child through school, the first lesson is really for parents – and grandparents! From kindergarten through post-secondary years, you’ll be presented with dozens of optionsto meet basic needs and provide enriched experiences - most which have a price tag attached. This week, Derrick and Travisasked Island Savings Branch Manager, Dan Adair,back to the show as they examine which factors will help you make affordable education decisions.
1:15 Money Problem: One forward-thinking student and her grandparent couldn’t see how to make her dream of becoming a nurse a financial reality.
3:50 Expert Examination:Travis, Derrick and Dan Adair dig into the costs of schooling and provide strategies to manage the expenses:
- Private school, homeschooling, extra-curricular experiences, etc… What expenses to prepare for from kindergarten through grade 12.
- Tuition, housing, fun and more! What post-secondary studycould cost.
- Simple strategies to cut-back on education costs.
- How to make, find, and borrow money to afford your education.
29:38–Weekly Financial Fix:There may be money waiting for your child to claim! Travis assigns some homeworkthat you’ll actually want to do!
If you have an undiagnosed financial concern or want to better understand a financial subject, send Travis and Derrickyour question at islandsavings.ca/wealthbeing, or at wealthbeing@firstwestcu.ca, and we will consider it for a future episode.
What would you do as the next million-dollar lottery winner? We’re sure you’ve thought about it. You might even have a bucket list ready to go. But when you get a windfall of money, some financial decisions are better than others. This week, Derrick and Travis welcome Island Savings Director of Wealth Management, Robin Marshall, to the show for a conversation about the best ways to use a large influx of cash.
1:30 Money Problem: Travis’ clients came into an unexpected family inheritance, but the lucky came with a lot of questions to make the most out of the money.
3:40 Expert Examination: Derrick, Travis and Robin Marshall help you make the most out of a windfall:
- How might you come into a windfall?
- Factors that could influence your inheritance.
- Tax implications and strategies for money you receive as a windfall.
- Common mistakes people make with large sums of money.
- Proceeds from a sale of property.
- Can a legal settlement be a windfall?
- How to use lottery winnings.
- Making the most of your work bonus or raise.
- How life insurance plays a part in your financial health.
- Paying off debt, investing, giving, spending – the best ways to spend your windfall.
22:20–Weekly Financial Fix: Travis has a way for you make spending decisions easier.
If you have an undiagnosed financial concern or want to better understand a financial subject, send Travis and Derrick your question at islandsavings.ca/wealthbeing, or at wealthbeing@firstwestcu.ca, and we will consider it for a future episode.
Whether it’s to lower your cost of living today, create a retirement nest-egg – or both! – purchasing an income propertyis a question we get asked about almost daily. That’s why we’re bringing you a two-part conversation with Mike Hartshorne, an award-winning realtor with Royal LePage. (You can listen to Part Onein last week’s episode). We’re sure that, like Derrick and Travis, you’ll be feeling well prepared to decide if real estate investing is for you.
:50Money Problem: Derrick’s clients had a real estate investing dream - and a lot of debt.But Derrick is never without options to help out.
1:40Expert Examination: In Part Two,Travis, Derrick and Mike look at more factors that will influence your decision about whether to invest in real estate:
- What to expect when financing an investment property.
- Beyond the purchase price – other investment expenses to plan for.
- Risks of investing in real estate versus market investments.
- Choosing the best property for making money.
- Is 2020 the right time to become a real estate investor?
22:30–Weekly Financial Fix:Travis recommends landlords (or future landlords) take the vacancy test.
If you have an undiagnosed financial concern or want to better understand a financial subject, send Travis and Derrickyour question at islandsavings.ca/wealthbeing, or at wealthbeing@firstwestcu.ca, and we will consider it for a future episode.
Your friends do it. Your parent’s do it. You think that yourneighbours are doing it in their own house!These days, it seems like everyone owns a real estate investment. And they’re full of advice about how to make money. But could real estate investing be as simple as it seems? Derrick and Travishave also considered adding property to their portfolios and they’ve decided to talk to someone with lots of experience. This week, listen to Part One of our conversation with Mike Hartshorne, an award-winning realtor with Royal LePage, and find out if it’s a good idea to put your savings into property.
1:15 Money Problem: Travis’ clients with property in the US were facing a big financial decision that would affect their profitability.
3:40Expert Examination: In Part One,Travis, Derrick and Mike examine the types of real estate investing you could consider and many factors to help you make an investment decision:
- Real estate investing versus primary property ownership.
- Ways to invest in real estate and the financial possibilities.
- Are you the right person to consider house flipping as an investment strategy?
- Can the home you live in provide a “suite” solution?
- Determining how much you’ll earn from your real estate investment.
Listen next week for Part two of this conversation.
22:15–Weekly Financial Fix:Before becoming a real estate investor, you need to know the numbers. Travis has a simple challenge that will help you know how much you can expect to make.
If you have an undiagnosed financial concern or want to better understand a financial subject, send Travis and Derrickyour question at islandsavings.ca/wealthbeing, or at wealthbeing@firstwestcu.ca, and we will consider it for a future episode.
You’ve got to put your financial efforts somewhere – are you better off trying to earn as much money as possible or saving every dollar? Derrick and Travis don’t always agree on this question, so this week, we’re sitting them down for a debate! Hosted by Island Savings' Senior Financial Advisor, Annie Nolan. Which side are you on?
1:05 Opening arguments
1:45 Expert debate: Five motions to answer the question: Which is most important? Earning more or saving more money?
- Motion 1: It is better to spend money for post-secondary education than to save tuition dollars by going directly into the workforce.
- Motion 2: Spending money to earn investment rewards is smarter than saving everything in guaranteed (no risk) terms.
- Motion 3: It is wiser to save money for a purchase than to use credit to buy.
- Motion 4: You can be financially better off buying an insurance policy than by using a savings account.
- Motion 5: Should you save everything you earn for retirement or work for income late in life.
22:40 – Weekly Financial Fix: Earning a little extra income in retirement can be easy and rewarding. Travis has some suggestions to help get you started.
If you have an undiagnosed financial concern or want to better understand a financial subject, send Travis and Derrick your question at islandsavings.ca/wealthbeing, or at wealthbeing@firstwestcu.ca, and we will consider it for a future episode.
Listen to WealthBeing live on Saturday mornings at 8:00 a.m. on CFAX 1070 or stream our episodes to your podcatcher.
There have been many times in 2020 when we’ve heard people say: “I wish I had been better preparedfinancially to deal with this emergency.”We’re optimists too, so we understand that planning for the unknown is often sacrificed for more fun ways to spend money. That’s why Derrick and Travishave askedIsland Savings' Senior Financial Advisor, Stephanie Brownlow, to share the advice that she gives her members – and uses herself – to protect their financial health.
1:10–Money Problem:When the pandemic pushed the markets down, many of Travis’ clientswho were drawing RIF payments were in danger of losing a greater amount of their savings.
2:30– Expert Examination:There are seven simple ways to add resilience to your financial health:
- Lesson 1: our budgets aren’t stress-tested.
- Lesson 2: we carry too much debt.
- Lesson 3:we can do more things for ourselves!
- Lesson 4:we’re probably spending too much on fun.
- Lesson 5:we panic too easily.
- Lesson 6:we've left our legacy unplanned.
- Lesson 7:we're not using all the tools our financial institution offers to help us.
22:30–Weekly Financial Fix:Travis’ challenge this week will help you break the cycle of scrambling for help when the next emergency surprises you.
If you have an undiagnosed financial concern or want to better understand a financial subject, send Travis and Derrickyour question at islandsavings.ca/wealthbeing, or at wealthbeing@firstwestcu.ca, and we will consider it for a future episode.
2020 hasn’t turned out the way business owners had planned. Because of the COVID-19 pandemic, many companies spent the past few months operating on 50% of their revenue (on average) - and have encountered numerous operating inefficiencies. To understand the outlook for businesses, and the actions that owners can take in respoinse, Derrick and Travis invite Island Savings' Regional Manager of Business Banking, Jesse Honkanen, to discuss business-not-usual.
1:20–Money Problem:Derrick tells us about the financialissues that a local business owner uncovered when the COVID-19 pandemic interrupted their out-of-date operational practices.
4:10– Expert Examination:Business owners are not sure what to expect for 2020, so Travis, Derrick and Jesse consider the opportunities and pressures that companies may need to contend with:
- The financial outlook for businesses over the next year.
- Finding financial efficiencies.
- Do franchisees have an advantage?
- (Re-)structuringa business budget for the next twelve months.
- How to use online infrastructure to optimize operations.
- Starting a new business amid the pandemic.
- Is borrowing a good bridge to survive the economic slowdown?
- Strategies to expedite business income.
- Supporting your staff’s financial needs.
22:30–Weekly Financial Fix:Travis suggest an affordableway forbusinesses to adapt to today’s online consumer needs.
If you have an undiagnosed financial concern or want to better understand a financial subject, send Travis and Derrickyour question at islandsavings.ca/wealthbeing, or at wealthbeing@firstwestcu.ca, and we will consider it for a future episode.
Philanthropy may be a ten-dollar word, but you can start giving back with even less!This week, Derrick, Travis, and our guest expert Chris Waddell, discuss how anyone, with any budget, can provide financial support and help other people thrive.Listen for theirpersonal giving strategies and the advice they offer Island Savings members to make philanthropy part of a financial plan.
1:30–Money Problem:Travis’ client dreamt of supporting three different charitable causes, but wasn’t sure how – or if – he could pull them all off.
5:20– Expert Examination:A financial strategy that’s simply good for your heart and easy on your pocketbook.Travis, Derrick and Chris make it easy to be a philanthropist:
- What it means to be philanthropic.
- How to know which organizations to support.
- How Island Savings makes it simple for members to help communities.
- Ways to fit charitable giving into any budget – Travis’ “Three P’s”
- The tricks of giving “in-kind.”
- Donating with every point-of-sale purchase: Big Change
- Win-win tax strategies when you give back.
- How to create a bursary program.
- Economic philanthropy: “Get a Meal, Give a Meal.”
22:30–Weekly Financial Fix:Travis has a suggestion to trade your regular summer spending for somethingthat will make even bigger memories.
If you have an undiagnosed financial concern or want to better understand a financial subject, send Travis and Derrickyour question at islandsavings.ca/wealthbeing, or at wealthbeing@firstwestcu.ca, and we will consider it for a future episode.
Would you recognize financial abuse if it was happening to an elderly person in your life – or to you? Financial scams, theft and fraud targeted at seniors is an everyday problem, and as we approach World Elder Abuse Awareness Day (WEAAD), Derrick, Travis and Kevin Haarhoff, their colleague in Corporate Security at Island Savings, tell you about some of the most common crimes to look out for – and what to do if you or someone else is targeted.
1:40 – Money Problem: Derrick noticed some strange activity in an older member’s account when a family member steps in as Power of Attorney.
3:00 – Expert Examination: Financial abuse against seniors takes place in dozens of ways. Travis, Derrick and Kevin diagnose the warning signs and consequences:
· Why Island Savings takes an interest in World Elder Abuse Awareness Day.
· The “Grandparent Scam.”
· “Friendly” financial fraud.
· Avoiding electronic threats.
· Risky “romance” scams.
· Ensuring your information stays safe.
· Red flags for financial abuse.
· How to get – and give – help when financial abuse is suspected.
22:40 – Weekly Financial Fix: You only need an hour this week to take Travis’ challenge. Open up the lines of communication with a senior in your life.
If you have an undiagnosed financial concern or want to better understand a financial subject, send Travis and Derrick your question at islandsavings.ca/wealthbeing, or at wealthbeing@firstwestcu.ca, and we will consider it for a future episode.
On every episode
Being in good financial health makes you feel at ease every day. You are free to pursue your goals and prepared to manage your future needs. Could your pocketbook be in better shape?
If life has thrown you a financial curveball, or if you just want to be more in control of your money, tune-in to WealthBeing. Every week, we diagnose a spending, saving, borrowing, investing, or other financial problem to provide simple advice that can help you thrive.
You’ll hear about real-life financial challenges that our Island Savings hosts, guests and members have encountered. We’ll share the time-tested financial solutions we recommend to members. And every week you’ll receive a simple strategy that you can use right away to improve your financial health.
Listen to WealthBeing live on Saturday mornings at 8:00 a.m. on CFAX 1070 or stream our episodes to your podcatcher.
Our WealthBeing Hosts
Travis Koivula
B.Eng, CFA, CFP®, CIM, FCSI, CIWM
Senior Wealth Advisor | Senior Investment Advisor
Island Savings Insurance Services | Credential Securities
Travis has been serving the financial needs of members in the Credit Union system since 2007 and is one of the most accredited financial advisors in Canada. He holds the globally recognized Charted Financial Analyst (CFA) designation, passing all three tests on his first attempt. In addition he is a Certified Financial Planner (top 1% of his class), Canadian Investment Manager(CIM), Fellow of the Canadian Securities Institute(FSCI) and a Chartered Strategic Wealth Professional(CSWP).
Born and raised in Kamloops, Travis completed his Bachelor of Engineering degree at the University of Victoria and developed strong ties to the Capital region. Inspired by the work of Warren Buffett and Peter Lynch, he switched paths and turned his hobby and love of investment strategy into a career. Travis specializes in working with Island Savings members who are US citizens and transferring American assets to Canada. He has e
In most marriages, finances are often completely intertwined. Going from “ours” to “yours or mine” as part of a separation or divorce can be a thorny process. 38% of Canadians end their marriage every year, and this week, Travis and Derrick – along with our guest, Island Savings Senior Wealth Advisor, Chris Gerow –are going to simplify what you need to know about managing finances and assets while going through a separation or divorce.
2:30–Money Problem:When Travis’ client was ending her marriage, she was facing some complex financial decisions. She never needed to worry about the finances during her marriage – and now, she was solely responsible for her financial future.
4:30– Expert Examination:Travis, Derrick and Chris help you understand what you need to do, when to be cautious, and how to protect your pocketbook when splitting up your shared finances:
- How to identify which assets are worth fighting for.
- Avoiding emotional decision-making.
- Un-linking your accounts and investment assets at the right time.
- Creating your own credit.
- Safeguarding your income.
- Avoiding tax troubles.
- Special considerations for “grey” divorcees.
- Common financial disputes.
- Being a financially-savvy single.
23:00–Weekly Financial Fix:The first, critical step to simplify the process of your separation or divorce.
If you have an undiagnosed financial concern or want to better understand a financial subject, send Travis and Derrickyour question at islandsavings.ca/wealthbeing, or at wealthbeing@firstwestcu.ca, and we will consider it for a future episode.
Like any relationship, you want to choose your financial advisor carefully. Trust is important – you’re going to be sharing a lot of personal information with your advisor. And you should know they have your back when it comes to making the best financial decisions.We’re extra excited this week to welcome two experts of a different kind to the show. Travis and Derrick talk with Bill and Joanne Moffatt, clients of Travis’, about how to find and foster an excellent advisor-client relationship.
1:45–Money Problem:Travis, new arrived to Vancouver Island, inherited a client who was deeply unsatisfied with his advisory experience. Travis only had one chance to try and make things right.
4:00– Expert Examination:Travis, Derrick, Bill and Joanne discuss the most important aspects of creating the best advisor-client relationship:
- What to expect a financial advisor to do for you.
- What your financial advisor expects (and needs) from you as a client.
- Achieving synergy in the advisor-client relationship.
- How to know if a financial advisory is trustworthy.
- The best qualities too look for in a financial advisor – and red flags to avoid.
- What to do if you and your advisor have a difference opinion.
- Can your friends be your financial expert?
- Identifying an advisor-client relationship that’s not serving your needs.
23:00–Weekly Financial Fix: Travis has a simple way for you to evaluatethe success of your relationship with your financial advisor.
If you have an undiagnosed financial concern or want to better understand a financial subject, send Travis and Derrickyour question at islandsavings.ca/wealthbeing, or at wealthbeing@firstwestcu.ca, and we will consider it for a future episode.
If life changed tomorrow, would your financial future be taken care of?May is Leave a Legacy month, which has Travis and Derrick thinking about how to ensure a secure financial future. This week, we are joined my Nima Rohani,Partner at McConnan Bion O'Connor & Peterson Law Corporation,to discuss the key questions and choices we all need to consider when planning for our legacy.
2:00–Money Problem:Travis’ client was struck by a medical emergency and there was no one assigned to take of his needs. Everything would go to the government to manage – unless they could find a solution.
3:10– Expert Examination:Travis, Derrickand Nima Rohanisimplify how to create a will and Power of Attorney:
- How a will and Power of Attorney (POA) affect your financial health;
- Which do you need: a living will, last will or Power of Attorney?
- What happens to your finances if you are incapacitated;
- Is your last will really the final say?
- When to include – or not to include – your family in the process;
- How to choose an executor, Power of Attorney, and witness for your estateplans;
- Creating air-tight plans for your legacy.
22:20–Weekly Financial Fix:This week, Travis has a tip to make sure the legacy plan you have today is what you want – and what works – for tomorrow.
If you have an undiagnosed financial concern or want to better understand a financial subject, send Travis and Derrickyour question at islandsavings.ca/wealthbeing, or at wealthbeing@firstwestcu.ca, and we will consider it for a future episode.
Summer is one of the most expensive times of year. Most Canadians plan to spend over $3000 on vacation alone. Include higher prices on fuel and food, and it’s easy to come out of the season with debt. This year, we want to take a more thoughtful approach to summer spending, and that’s why Travis and Derrick have asked Dan Adair to return to WealthBeing for a conversation about having a fun – yet frugal – few months.
1:45–Money Problem:Derrick’s client had big dreams – but a small budget - for his summer recreation project. Was it worth some debt or was there a better solution?
3:00– Expert Examination:Travis, Derrickand Dan discuss the spending traps to be aware of during the summer and the best strategies to play now without paying later:
- Why “summer spending” deserves special consideration in your budget.
- How your spending is influenced by the weather and work patterns.
- Avoiding end-of-season debt.
- Purchases that add up in the summer.
- Ways to have it all – a fun and memory-making summer without digging into savings or credit.
- Not travelling this year?Options to use those savings instead.
23:00–Weekly Financial Fix:Travis challenges you to save your money for fun by getting your hands dirty.
If you have an undiagnosed financial concern or want to better understand a financial subject, send Travis and Derrickyour question at islandsavings.ca/wealthbeing, or at wealthbeing@firstwestcu.ca, and we will consider it for a future episode.
They promise fast money, easy money, the final solution for your financial woes – but are the strategies you’re using to save or make money a good idea? Maybe. Travis and Derrick have a list of the most common financial schemes to dissect – and hacks they recommend –to achieve your goals.
1:20–Money Problem:Derrick’s client had to decide the best investment for his inheritance – a trendy opportunity or the typical option.
2:30– Expert Examination:Travis and Derrickreveal the good, bad and grey areas when it comes to these common financial fads:
- “Couch-potato”money-making
- “Envelope”expense-management
- Trendy FOMO investments
- The Endorsing “Expert”
- The “Rule of 72”
- Robo-advising
- A note so “gold”-eninvestment rule
- Day-trading
- Flipping the coin on Real Estate investing
- Is home-equity the ultimate account?
- ETFs (Exchange-traded funds)
- Financial hacks: credit card points programs; $2/wear foryour wares; rounding-up to save “Big Change”
23:00–Weekly Financial Fix:Travishas a simple challenge that could save you from falling prey to a financial fad.
If you have an undiagnosed financial concern or want to better understand a financial subject, send Travis and Derrickyour question at islandsavings.ca/wealthbeing, or at wealthbeing@firstwestcu.ca, and we will consider it for a future episode.
The best time to plant an oak tree is twenty years ago; the second best time is today.” Our financial lives don’t end when we pass on, they transfer to those we leave behind. May is “Leave a Legacy” month, and Travis and Derrick have invited Ted Noakes, Life Insurance Advisor, Wealth Protection and Estate Planning Specialist to the show to talk about creating an estate plan for the financial legacy you imagine.
1:12–Money Problem:A property inheritance that came with complications.
2:00– Expert Examination:Derrick, Travis, and Tedreveal the various ways to create a legacy plan that brings peace to everyone involved. Listen for:
- the most common Legacy wishes;
- what factors should be included in your Estate and Legacy plan;
- Estate planning misconceptions you want to avoid;
- who gets what? Deciding how to distribute an inheritance;
- how to choose the best executor and Power of Attorney;
- why business owners need an estate plan;
- the advantage of using life insurance to pass-along wealth;
- including charitable causes in your Legacy plan;
- the process of Estate planning.
22:40–Weekly Financial Fix:Travisrecommends an important step to ensure your Legacy wishes are followed.
If you have an undiagnosed financial concern or want to better understand a financial subject, send Travis and Derrickyour question at islandsavings.ca/wealthbeing, or at wealthbeing@firstwestcu.ca, and we will consider it for a future episode.
What financial lessons are your children learning from you? Kids notice how money is used around the household, andrely on adults to help them learn good financialbehaviours. This week we welcome back Lorena Milkert, Director of Retail and Business Banking at Island Savings, to talk with Derrick and Travis about the habits, tricks, and simple practical lessons that set kids up for a stress-free financial future.
1:50–Money Problem:Travis’ clientswanted to help their daughter during a financial pinch, without giving her a handout.
4:30– Expert Examination:Derrick, Travis, and Lorena cover financial literacy topics that are important for kids, teens and young adults – including the tricks they use in their households to be successful. Listen for:
- why parents need to be conscious of their children’s financial literacy;
- what lessons are appropriate for children as they grow up;
- ways to help kids understand saving, credit, and spending;
- how transparent to be with your own household finances;
- common financial lessons that are often overlooked;
- easing back from financially supporting an older child.
20:30– Weekly Financial Fix:Travis has two suggestions to make talking about money a regular habit and helping children understand the role and impact of money.
If you have an undiagnosed financial concern or want to better understand a financial subject, send Travis and Derrickyour question at islandsavings.ca/wealthbeing, or at wealthbeing@firstwestcu.ca, and we will consider it for a future episode.
The ways thatwe spend money make an impact on our world – and that includesour investment decisions. Are your savingssupporting companies who share your environmental, social, and governance (ESG) values? Ahead of Earth Day 2020, Derrick and Travis welcome a special guest, David Rutherford, from NEI (Northwest & Ethical Investments) to share his vast experience in Responsible Investing. Listen to their conversation to learn how your investments can be rewarding for both you and the well-being of people and our planet.
1:50–Money Problem:Travis’ clients from the Gulf Islandswanted to invest in a way that matched their values, but they struggled to access Responsible Investments that fulfilled their goals.
4:30– Expert Examination:Derrick, Travis, and David Rutherford (NEI)simplify the category of Responsible Investing and help you understand why and how they can make a difference in your life. Listen for:
- understanding what comprises a “RI” (Responsible Investing), and “ESG” factors;
- the drivers and growth behind Responsible Investing;
- the various types of Responsible Investments you can choose from;
- how companies are vetted and confirmed to be a “Responsible Investment”;
- influencing companies through your investments;
- performance promises: traditional versus responsible investing;
- how to become a Responsible Investor.
20:30– Weekly Financial Fix:take the first steps to become a Responsible Investor.
Every day, we talk to people who are facing a new financial crunch due to the COVID-19 pandemic. The numbers just aren’t adding up like they usually do. This week, Travis and Derrick invite Annie Nolan, an expert in budgeting,onto the show to share the strategies that she recommends her members use to get through a financial crunch-time.
2:20–Money Problem: Derrick’s client had some significant life changes and, despite her careful planning, she realized she was running short on savings. .
5:30– Expert Examination: Annie Nolan, a Senior Financial Advisor at Island Savings who has specialties in lending, planning, investments and holisticadvice, joins Derrick and Travis to explain strategies that work to save money and avoid making a tax mistake. Listen for:
- how to recognize when you’re in a financial crunch;
- small changes you can make to refocus your budget;
- what to do if you need significant financial help;
- the help you can ask for from Island Savings;
- communicating and supporting others who need financial help or who are making changes.
20:30– Weekly Financial Fix:if you’re facing a financial crunch, Travis has some recommendations to help you find sources of income.
If you have an undiagnosed financial concern or want to better understand a financial subject, send Travis and Derrickyour question at islandsavings.ca/wealthbeing, or at wealthbeing@firstwestcu.ca, and we will consider it for a future episode.
Do you rush through your taxes, thinking it’s just a “simple return.” Think again.This week, Travis and Derrick have invited Doug Lawson, an expert in Canadian and US taxes, into the studio to discuss how government budgets, life changes, and common mistakes could be costing you money.
0:50 –Money Problem:Travis’ clients held most of their assets and income under one spouse’s name. They were exposed to a high tax bracket and hadn’t considered the implications in their financial plan.
1:50– Expert Examination: Doug Lawson, accountant from Hutcheson & Company joins Derrick and Travis to explain strategies that work to save money and avoid making a tax mistake. Listen for:
- most common tax questions to ask and mistakes to avoid;
- how changes in 2020 Federal and Provincial budgets affect individual taxes;
- why you might want to talk to a CPA before filing;
- defining a tax “dependent;”
- how to use RRSPs to save money;
- tax strategies for retirees and seniors to consider.
22:00– Weekly Financial Fix:use Travis’ tip andfind out how to use RRSPs to lower your tax bracket.
If you have an undiagnosed financial concern or want to better understand a financial subject, send Travis and Derrickyour question at islandsavings.ca/wealthbeing, or at wealthbeing@firstwestcu.ca, and we will consider it for a future episode.
According to Cyber Security expert, Ryan Smith, 50% of Canadians will likely be targeted by someone trying to commit fraud. It’s not always easy to detect and the fallout can be serious.This week, Ryan joins Travis and Derrick to bring you simple advice about how to recognize, prevent, and recover from fraud.
1:10 –Money Problem:A phone call to Travis’ client caused panic and exposure to identity theft.
1:50– Expert Examination: Ryan Smith, manager of Island Savings IT Cyber Security team,joins Derrick and Travis to reveal seemingly innocent ways we’re targeted every day – and how to foil the frausters. Listen for:
- prevalent and common types of financial fraud to bewareof;
- how to recognize fraud and “human hacking”(social engineering);
- why you could be targeted – and why you should care;
- simple habits to protect your identity and financial health;
- recovering from a financial fraud attack;
- looking out for vulnerable family members;
- your financial institution is on your side.
22:50– Weekly Financial Fix:take a minute to secure your online credentials. Travis recommends a service to help you stay safe.
If you have an undiagnosed financial concern or want to better understand a financial subject, send Travis and Derrickyour question at islandsavings.ca/wealthbeing, or at wealthbeing@firstwestcu.ca, and we will consider it for a future episode.
“We’re in unprecedented times in the markets.” It’s a phrase that Travis has been hearing a lot lately. Does he agree? Listen as he and Derrick dig into the volatile economic circumstances we’re experience as a result of COVID-19, and garner time-tested strategies for managing your investing and maintaining your financial health as change thunders around us.
1:15–Money Problem:It was in the middle of hard economic times when Travis’ clientsstruggled to escape investor panic.
2:10– Expert Examination: Travis and Derrick take you through all the financial considerations, worries, and expectations to keep in mind when making investment decisions during uncertain economic periods:
- truth or fiction: these are unprecedented financial times;
- defining a “bear market;”
- why markets shift down;
- searching for the market bottom;
- advantages of dividends and dollar cost average investing;
- recognizing and responding to market panic;
- opportunity and investment adjustments in a down market;
- investing excuses to ignore.
19:50– Weekly Financial Fix:you’ll feel a different level of financial stress today and in the near future. Travis has a challenge to help you set aside some of that worry.
If you have an undiagnosed financial concern or want to better understand a financial subject, send Travis and Derrickyour question at islandsavings.ca/wealthbeing, or at wealthbeing@firstwestcu.ca, and we will consider it for a future episode.
It’s almost International Women’s Day, and Travis and Derrick welcome Karen Witowski, Island Savings Branch Manager,to talk about the financial challenges that affect women. It’s likely that you or someone you know will encounter one of these hurdles, so use the simple advice from our three experts to prepare, manage, and feel confident about your financial health.
0:55–Money Problem:Travis’ client had financial obligations in all corners of life and needed some help to manage all her needs and goals.
1:45– Expert Examination: Derrick, Travis and Karen outline the common financial concerns that specifically affect women:
- options to thrive given wage disparity or income challenges;
- financial implications of working - or not - while raising children;
- being financially prepared for a longer life than a partner;
- advice and inspiration for women to take charge of their financial future;
- the financial demands on women who are in the “sandwich generation;”
- protecting seniorwomen from financial vulnerabilities.
21:00– Weekly Financial Fix:getting approved for a mortgage requires good credit; Travis challenges you to get up to speed with your current credit rating.
If you have an undiagnosed financial concern or want to better understand a financial subject, send Travis and Derrickyour question at islandsavings.ca/wealthbeing, or at wealthbeing@firstwestcu.ca, and we will consider it for a future episode.
Even seasoned property owners will learn something on this week’s WealthBeing episode. Travis and Derrick welcome Island Savings Branch Manager, Dan Adair, to simplify many of the complex questions we get from people who want, or have, a mortgage.
1:30–Money Problem:Derrick’s client made a no-conditions offer on a rental property. Unfortunately, financing wasn’t as simple as his client expected.
4:45– Expert Examination: Derrick, Travis and Dan help you understand what is, and isn’t so, simple when it comes to buying property:
- which interest rate term to choose;
- how the “stress-test” affects your mortgage qualification;
- re-financing strategies to get more money or lower your payments;
- differences between buying rental and primary residence properties;
- tax-deduction strategies for rental properties;
- how to move (“bridge” or “port”) your mortgage to a new property;
- what happens when you want to exit a mortgage contract early;
- advice for managing a construction mortgage;
- two houses, one mortgage – interalias explained;
- what to do before you apply for a mortgage;
- how to reduce or avoid mortgage insurance;
- renting as a retirement strategy.
22:18– Weekly Financial Fix:getting approved for a mortgage requires good credit; Travis challenges you to get up to speed with your current credit rating.
If you have an undiagnosed financial concern or want to better understand a financial subject, send Travis and Derrickyour question at islandsavings.ca/wealthbeing, or at wealthbeing@firstwestcu.ca, and we will consider it for a future episode.
If you and your partner don’t see eye-to-eye about money, you’re not alone. Most people in a relationship report feeling stressed and having perpetual arguments about spending habits and savings goals. On this episode of WealthBeing, Travis and Derrick ask Richard Routledge, family therapist and clinical supervisor at Arbour Counselling Centre to help us understand why couples struggle to maintain financial peace.
1:45 – Money Problem: Travis’ clients were constantly fighting over money. One a spender, the other a saver. Conflicts often arose during financial planning meetings.
2:22 – Expert Examination: Derrick, Travis and Richard discuss what’s behind common financial conflicts between partners:
- why the subject of money leads to conflict between couples;
- perpetual conflicts related to finances;
- the politics of shared finances;
- handling conflict around money habits;
- the role of gender and power on financial behaviour;
- getting past differing financial expectations;
- book recommendations from Travis;
- how to talk about money with your partner;
22:18 – Weekly Financial Fix. A couples challenge to help you recognize what’s working, and what needs some work, when it comes to your finances.
If you have an un-diagnosed financial concern or want to better understand a financial subject, send us a question and we will consider it for a future episode. You can reach Travis and Derrick at wealthbeing@firstwestcu.ca or visit islandsavings.ca/wealthbeing
We all think we’re pretty good at sharing. We’ll split a dessert or lend a garden rake with no questions asked. So why does combining our finances with a partner lead to confusion and frustration? Most of us will someday need to change our financial habits, disclose our debts, and establish shared desires to support a family. On this episode of WealthBeing, Travis and Derrick welcome a special guest, Dan Adair, Manager of Island Savings Brentwood Bay branch, for a conversation about taking the chaos out of family finances.
:40 – Money Problem: Derrick’s clients were overpaying in monthly banking fees due to disconnected account management.
2:06 – Expert Examination: Derrick, Travis and Dan discuss the best strategies that families can use for financial management:
- combined or individual finances – what’s the best route?
- how to be transparent with your partner about money;
- developing spending strategies for small to major purchases;
- achieving financial goals together;
- dealing with a change in employment;
- child-rearing financial phase;
- keeping frivolous spending in check;
- family-focused emergency fund;
22:50 – Weekly Financial Fix. Establish a “minimum wear” standard for all the clothing you buy.
To send comments, feedback, or a question that you would like Travis and Derrick to answer, email wealthbeing@firstwestcu.ca
Subscribe to WealthBeing in any podcatcher to listen to previous episodes.
When it comes to saving and investing money, there are two acronyms that cause confusion for many people.We’re asked all the time to help clients decide whether to use aTFSA or RRSPto prepare for retirement.On this episode of WealthBeing, Travis and our guest, Lorena Milkert, Director of Retail and Business Banking at Island Savings, will make it simple to understand how the Tax-Free Savings Account and Registered Retirement Savings Plan work, when they’re a good fit for your goals, and a few times you might want to opt for other savings methods.
:54–Money Problem:A couple was working with Travis to figure out how to balance their different income levels, pension, and savings plans so they would be best prepared for retirement.
1:40 – Derrick, Travis and Lorenaexamine common questions and strategies related to TFSA and RRSP investing:
- how RRSPs and TFSAs are used to save money for retirement;
- maximum contribution limits for TFSAs and RRSPs;
- getting the best tax benefits from TFSAs and RRSPs;
- how and when to withdraw from TFSA and RRSPs;
- strategic use of spousal RRSPs;
- special rules for US investors;
- using small, frequent investments to build large retirement savings;
- which is the best option – TFSA or RRSP.
21:45– Weekly Financial Fix. Travis challenges you to do some research to fully understand your income needs and financial resources during retirement.
Start talking about or researching investing and you’ll be bombarded with strategies to get the highest returns, tips about timing the market, and opportunities to get in on the “next big thing.”For most people, investing is both mentally and emotionally taxing. On this episode of WealthBeing, Travis is sharing the strategies he uses to help his clients make the best, stress-free investing decisions to reach their goals and avoid making costly mistakes.
:45–Money Problem:Travis’ client was dealing with the worry of unpredictable markets and global economies.
3:40 – Our co-hosts examine common investing mistakes:
- obsessing about investment activity;
- making investment decisions under highstress;
- focusing too much on fads;
- putting off investing until later;
- being improperly diversified;
- ignoring inflation;
- only focusing on negative news;
- trying to time the market;
- takinginvestment “tips” from friends and family;
- taking the wrong risks;
- letting fear take focus from investing;
21:45– Weekly Financial Fix. Travis gives you a challenge that will de-stress you investing experience.
Debt can be stressful, confusing, embarrassing… and sometimes a good financial decision! On this episode of WealthBeing, we invite our colleague, Annie Nolan,Senior Financial Advisor at Island Savings, to talk about the variety of ways debt impacts our financial health, and we learn her simpleways to manage what we owe.
:45–Money Problem. Derrick shares the story of his self-employed clients who experienced a life change that caused an increase in debt.
3:40 – We meet our guest expert Annie Nolan, Senior Financial Advisor at Island Savings, and learn about:
- good and bad debt;
- deciding if incurring debt is worthwhile tomake a purchase;
- common reasons that people get trapped owing money;
- a simple way to set up an emergency fund that’s specific to your needs;
- balancing family support with personal savings goals;
- how financial experts provide debt solutions;
- dealing with the stigma and emotion tied to debt;
21:45– Weekly Financial Fix. Travis gives you a challenge that will open your eyes to your spending habits.
We all have big dreams and good intentions when it comes toour financial plans. But setting a course and staying on track can be a challenge. On this episode of WealthBeing, we make it simple to progress toward your goals.
:30 –Travis and Derrick share their first financial goal-setting experience.
3:56 – Money Problem. Travis shares the story of clients who struggled to set and achieve financial goals, and advice that works when you find yourself lost in financial decision-making. Learn about:
- three types of financial goals to serve short, medium, and long-term needs;
- goal-setting language that reinforces your intentions;
- four factors every successful financial goal has;
- prioritizing multiple financial goals;
- the financial goal-setting process;
- coping with unexpected financial changes;
- setting financial goals for retirement;
- financial goal planning tools;
- coordinating family financial goals.
22:20 – Weekly Financial Fix. Travis leaves you with a simple activity to further your financial goal-setting.
Being in good financial health makes you feel at ease every day. You are free to pursue your goalsand prepared to manage your future needs. Could your pocketbook be in better shape?
If life has thrown you a financial curveball, or if you just want to be more in control of your money, tune-in to WealthBeing. Every week, we diagnose a spending, saving, borrowing, investing, or other financial problem to provide simple advice that can help you thrive.
You’ll hear about real-life financial challenges that our Island Savings hosts, guests and members have encountered. We’ll share the time-tested financial solutions we recommend to members. And every week you’ll receive a simple strategy that you can use right away to improve your financial health.
Listen to WealthBeing live on Saturday mornings at 8:00 a.m. on CFAX 1070, or stream our episodes to your podcatcher.