A spousal RRSP is a financial tool where one spouse can make a contribution to a plan opened in the other spouse’s name. Couples can then split income in retirement so that each person has a equal amount. This strategy helps to lower their income tax payable.
If it seems that there is a constant stream of negative press surrounding Generation Y’s abilities to financially survive in today’s economy, you’re right. They have extraordinarily high tuition fees that continue to climb at a steady pace, home prices in the lower mainland are pretty much unaffordable for most people and retirement – well […]
Merging two lives through marriage is one of the challenges of taking this step in your relationship. It can create a strain on even the strongest bond, especially if finances were not brought up before you said, “I do.” Ideally, both of you should have discussed your goals and expectations about money well in advance […]
If you’re in a situation where you are caring for your aging parents while raising your own family, you are living in the Sandwich Generation. Hundreds of thousands of other people are feeling the squeeze of offering financial and emotional support to their parents while trying not to feel as though they are shortchanging […]
When you make the change in lifestyle to retired person, you will hopefully enjoy many years of active living. While it would be wonderful if we could enjoy this state throughout retirement, Mother Nature has other plans. Most of us can look forward to about 10 or 15 years of active living and then […]
If you are like a number of Canadians who are at or close to retirement age, a significant portion of your net worth is probably tied up in your home. For many of us, owning our own home is a symbol of success and security. We remember the first house we bought, the years of […]
Are you living the life today that you envisioned you would be living five, 10 or even 20 years ago? Are you content with most, if not all, of the many aspect that make up your world – your family, friends, career, health, finances, spirituality and community? If you answered, “yes,”; Congratulations, that is […]
All adults should have a will and a final plan in place when they enter adulthood. At the very least, these things should be in place when a major life event, such as a marriage, birth of a child or receiving an inheritance has occurred. Part of being an adult also means learning how to […]
Modern families find themselves stretched to the limit. Many people don’t have company pension plans to fund retirement, and so it becomes even more imperative to make smart choices about money when they are raising families. Saving for their children’s education and retirement at the same time may be more challenging in the years to […]
This Summer Shape Up Quiz is very simple. Answer “Yes” or “No” to each of the following statements. Keep track of your answers to find out how whether you are in good shape financially or if your money management skills could use some work.