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  • Vermilion Voice

‘Wealth For Women’

The Vermilion Credit Union hosted a Wealth For Women event as part of an information series at Spur’s Lounge on April 15. CEO, Dave Eremko, welcomed guests and introduced speakers, Jonathon Rees and Stephanie Koleszar saying, “We believe we have a distinct role in providing sound advice to our members.” Investment Specialist with Vermilion Credit Union, Jonathon Rees, described the differences between Registered Retirement Savings Plans, Tax Free Savings Accounts, Registered Education Savings Plans, as well as their potential savings options. Guests enjoyed asking questions to see what may best suit them. Keynote speaker, Stephanie Koleszar, is a Regional Sales Manager at AGF Investments Inc. in Edmonton, and shared a multitude of tips for women to get in control of their finances, and save for retirement, etc. “Women manage $1.1 trillion of Canada’s wealth,” said Koleszar. She went on to say that 82 per cent of women share or control their household budget, and that 30 per cent are the main income earners. She also noted that women tend to live longer and therefore require more retirement savings. She also said that women on average earn 76 per cent of what men earn resulting in a lifetime differential of $250,000. “Take control now. It’s never too late to start thinking about retirement. Ask yourself, ‘How much can I save today to live a great tomorrow?’ It starts with a financial plan. Examine what your goals are; whether early retirement, travel, real estate or buying another home, financing your children’s education, or estate planning. Just one third of women have a financial plan,” said Koleszar. She went on to encourage learning, and planning, as well as reducing people’s dependency on others. She noted that they can always find ways to cut unnecessary costs so people can pay themselves first. She suggested for people to create a budget, pay down their debt, set up an emergency fund and said, “My parents used to say, ‘Count your pennies, and your dollars will look after themselves.’ Saving small amounts can make a big difference and it’s never too late to start! Take control, and be mindful of longevity and inflation.” “Vermilion Credit Union would like to thank everyone who joined us for our Wealth for Women seminar; your attendance made it a great success. We are always looking for new ways to provide value to our community as a trusted financial advisor. We look forward to hosting future events like this as we strive to offer more financial literacy opportunities to enrich the lives of our members and community.” said Lyle Worobec, CFP Financial Planner.

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