EDUCATORS ONE-TO-ONE: DENNIS MACEYOVSKI
Whether you’re actively working, or actively retired – as a member of the education community, you're part of an exclusive community that has the chance to engage with each other on financial topics that are important to you.
Here’s what one of your fellow educators, Dennis Maceyovski, has to say about the importance of having an emergency fund.
You never know when the money you are saving away in your TFSA will be needed…
We have been putting money away in our TFSA (Tax-Free Savings Account) through Educators Financial Group, ever since it was suggested by our Educators Financial Planner, Jim Wanamaker, as a way to build up a little extra savings on the side.
The thought of having additional money “for that rainy day” was reassuring since my wife and I are both retiring within the next five years and have two children at the university level (one graduated from, and one still in university), so it was good to know we had funds to tap into if something unexpected happened.
Plus being owners of a cottage with still a bit of work to do on it, we also had goals to one day finish all of those little projects (winterizing, updating, etc.) so that retirement might be a little more comfortable for us to enjoy the beautiful Muskoka colours during the fall.
And then it ‘rained’.
With my son Stephen just out of university, he announced at the end of summer the idea of living at the cottage over the winter as he was offered full-time employment in the town located close to the family cottage. This meant having to fast-forward all of those future projects, such as winterizing the floor and water lines and putting in additional heating.
Our TFSAs might be a little empty at the moment, but this was not the crisis it could have been if we didn’t have money socked away for a “rainy day”. Thanks Jim!
Thank YOU Dennis for sharing your story!
Perhaps you have your own story of how Educators helped you to save for a particular project or goal? Or maybe you have your own educator-specific budgeting tips that have got you through the ups and downs of everyday life that would prove useful to your colleagues?
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