Stop Letting Your Savings Shrink in Silence
Financial advisor Vineet Singh reveals why inflation is quietly destroying savings and what families can do to build real long-term wealth.
Local Voices Real Stories
✍️ By Debbie Balfour | Surrey City News | May 25, 2026
Most people believe they are doing the right thing by putting money into a savings account and watching it slowly grow. But according to financial advisor Vineet Singh, that mindset could actually be costing families thousands of dollars over time. In a recent episode of More Than a Business, Vineet opened up about the dangerous gap between “saving money” and truly building wealth and why Canadians need to rethink the way they approach their financial future.
Vineet Singh, founder of Firsthand Investment Services Inc., shared how his journey into financial advising began after seeing everyday families struggle with investing, taxes, retirement planning, and generational wealth. Coming from a middle-class background himself, Vineet understands the emotional pressure many people feel when working hard but still not feeling financially secure. His mission today is simple: educate people so their money starts working for them instead of sitting idle in low-interest accounts.
🎥 Watch the full podcast interview here:
One of the biggest eye-openers from the conversation was Vineet’s explanation of inflation versus bank interest rates. Many Canadians proudly keep their money in savings accounts earning one or two percent interest, while inflation quietly eats away at their purchasing power. As Vineet explained, banks often make far more money lending and investing customer deposits than customers earn themselves. In other words, your money may be sitting safely, but it is still losing value.
The discussion also highlighted a major mistake families make: spending first and saving what is left over. Vineet believes the opposite approach creates financial freedom. By paying yourself first and building structured investment plans, people can better prepare for retirement, protect their families, and create wealth that lasts beyond one generation.
Another powerful part of the interview focused on estate planning and the hidden tax implications many families never think about. Vineet explained that even though Canada does not technically have an inheritance tax, taxes and probate costs can still heavily impact what children eventually receive. Without proper planning, families can unintentionally lose significant portions of their assets when wealth transfers to the next generation.
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Vineet also shared practical advice around insurance products, mortgage insurance, and long-term investment strategies that many people overlook. One of his strongest messages was that financial literacy is no longer optional, especially for younger generations who are growing up in an increasingly expensive world.
The biggest takeaway from this interview? Saving money alone is not enough anymore. If your money is not growing faster than inflation, your future purchasing power may quietly disappear. Financial education, smart investing, and proper planning are no longer luxuries. They are necessities.
Debbie Balfour | Real Estate Investing Success Coach + Podcast Host
📍 Website: www.DebbieBalfour.com
📧 Email: Debbie@DebbieBalfour.com
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