Financially Speaking

As a father, mother or grandparent who has done well in life, you have probably considered giving financial gifts to your adult children or grandchildren while you are still alive instead of, or in addition to, providing an inheritance to them when you are gone.

How do you contribute to your registered retirement savings plan and your tax-free savings account? Do you make regular contributions through the year?

The first gift you unwrap this Christmas season is one you should give yourself – a realistic Christmas budget that will keep you from overspending and getting hit with an avalanche of hard-to-pay bills long after the ‘spirit of the season’ has worn off and fiscal realities have returned.

Supporting your children’s well-being takes a considerable financial expenditure and your financial needs are bound to be many.

You’re finally ready to start tapping into the investments you’ve been building in that Registered Education Savings Plan (RESP) you’ve nurtured over the years. Here are some ideas on how to get the most from it.

It seems like a long time ago that you began to regularly contribute to a Registered Education Savings Plan (RESP) for your child or grandchild and, suddenly, it’s time!

Buying a home is usually the largest financial decision any Canadian family will ever make – one that affects your family, future and lifestyle.

You may have received a reminder notice from the Canadian Revenue Agency indicating that you should make a quarterly tax installment. It is important to make these payments on time because ignoring the notice may be costly.

Every year around this time, you scramble to find ‘extra’ money to make your contribution to investments held in your Registered Retirement Savings Program.

A Registered Education Savings Plan (RESP) is a great way to save for a child’s post-secondary education. Here are some basic facts so you’ll be sure to get the most from an RESP.