Planning for the Worst: Financially Surviving Life-threatening Illness

You’ve been busy planning for retirement, and you’re thinking that 65 seems doable but 60 would be even better. The house is paid off, the kids have finally moved out, and mom and dad are happily cared for in a retirement home. Retirement is looking good.

Should you Give your Kids Their Inheritance While you are Still Alive?

An inheritance is traditionally a gift transferred to a child or grandchild after a person died. You don’t necessarily have to wait until you have passed to share some of your estate with your loved ones, however. Even if you ultimately decide not to give your kids their inheritance while you are still alive, it’s […]

College Students and Credit Cards: Teach Them How to be Responsible with Credit

If your child has recently started college or university, he or she will be adjusting to a new independence. Part of this phase of life involves learning how to manage money on a daily and monthly basis. What do you think about college students and credit cards? How have you prepared your child for handling […]

Do You Still Need Life Insurance After you Retire?

If you think of this life insurance s something that only has value when you are young and working, you may need to take another look at this important financial product. You may find that you still need life insurance after you retire.

What Does the Second Chapter of your Life Look Like?

  After a number of years in the workforce and dealing with deadlines, demands (and way too much office politics) you are more than ready for an infinite amount of rest and relaxation. You have marked the day on the calendar when you are finally free to enter the mysterious world of retirement and can […]

Are you Looking at Joint Tenancy for Financial Assets? Proceed Carefully

Holding financial assets in a joint tenancy is quite common, and in some circumstances it can make good sense. When bank accounts, real estate, mutual funds, bonds, and securities are owned by a couple, the title is passed to the survivor automatically if one of them dies. (Often, the only legal documentation which must be […]

Tax-free Savings Accounts Make Savings Easier for Canadians

A Tax-Free Savings Account (TFSA), is an easy way to save for your financial goals throughout your lifetime. It can be used to save for that down payment on your first home or maybe to start a new business. Over time your goals may change. Travel, retirement or other life events may become your priority. […]

7 Steps to Take Control of your Family Finances Now

Do you feel that you are in charge when it comes to managing your family’s money? Do you know the state of your family’s financial health? If your spouse were no longer in the picture would your financial situation deteriorate? If a sudden change in your health made working implausible would you have enough disability […]

The Spousal RRSP: a Financial Tool for a Comfortable Retirement

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.

Generation Y: Tips for Helping Your Kids and Grandkids Survive Financially

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 […]