scotiabank Archives - Listen to Lena

Friends, I’ve got a plan.

The last time we chatted, I expressed fear over being able to adequately balance my short-term financial obligations with my long-term savings goals. Of course, never one to simply lament and move on, I created an action plan with one clear objective in mind: meet with a financial advisor.

(Of course! Leave it up to the experts!)
jar Recently, I had the opportunity to chat with Simpreet Sivia, Senior Financial Advisor at Scotiabank. And I’ll be honest – discussing my financial triumphs (few) and shortcomings (many) with a stranger is not easy. However, I attended the meeting with an open mind, and by the time we were through:

– I had a better understanding of my current financial situation
– I had a path to help attain my long-term savings goals
– I was better prepared for unexpected life events
– I learned how to work toward the things I’ve always dreamed of …

I know, I know. The subject makes you want to turn and run, right? You’re not alone – I can think of very few people who actually enjoy the process of dissecting their spending and saving habits. But you know what? It’s truly not as painful as it seems, and today I’m here to show you (nay, convince you) why it’s the perfect time to sit down with a financial advisor. At Scotiabank, they offer this service for free with no minimum balance – so what do you have to lose?

First, let’s look at the calendar. March is creeping up on us! And in advance of the March 1st RRSP contribution deadline, it’s important to uncover where you are with your retirement savings, and where you want to be. Last week, I wasn’t all that certain.

You’ll remember from a previous post, Your Road to Retirement: What are Your Savings Goals for 2017? – I was once a smug saver. Today, I’m not as comfortable – with a brand new home (and brand new mortgage) on the horizon, I’ve been under mild stress (read: panic attacks) trying to figure out if I can afford to save. Rather than trying to crunch the numbers myself, last week, I visited my local Scotiabank branch and sat down with Simpreet Sivia, Senior Financial Advisor.
IMG_4206 (2) Here’s what I learned from my visit.

1. Overcome your fear of financial judgement. I get it. It’s hard to be so transparent with a stranger – even one who’s trying to help you sort through your finances. No one likes to have their spending habits judged; we’re all just trying to do what’s right for ourselves and our families. But the logical first step in the financial planning process is admitting that there’s room for improvement, and then, being open to advice. …

Focusing on the Future: Saving for Retirement

Your Road to Retirement: Let’s Chat about Financial Planning