WealthBeing

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 [email protected]. 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.

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 [email protected]. 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 [email protected], 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.

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 [email protected], 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 [email protected], 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.

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 [email protected], 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 [email protected], 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 [email protected], 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 [email protected], 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.

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 [email protected], 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.