It may seem far in the future, but now is the best time to save for your child’s. The average cost of a four-year post-secondary degree is $96,000, according to Statistics Canada. New parents should consider allocating the maximum $208 a month into a registered education savings plan per child.
With three to six months of emergency savings, and additional funds being allocated to your TFSA, RRSP and RESP, you now have the financial foundation to build strong savings’ habits and security for you and your family.Article contentFrom chronic health conditions to an unexpected death, protecting your family through life insurance is an important, but often overlooked component of financial security.
Depending on your situation and budget for premiums, working with an insurance specialist to select the best plan for you is another layer of financial security if you pass away.More than 60 per cent of Canadian adults do not have a will. It may be difficult and uncomfortable to think about, but investing the time to solidify your estate through end-of-life planning can protect your family from the unexpected.
If you find yourself in a shortfall, don’t panic. This is the perfect opportunity to think of where you and your family would like to be in five years and pull the levers that will get you there. Whether it’s allocating more to your RESP and less to your TFSA, or moving into a home to support a growing family, taking the time to plan today is where future results begin.
Step 1 - don't shut down the economy for 2 years Step 2 - repeal the carbon tax Step 3 - repeal the income tax Step 4 - repeal gst and pst Step 5 - remove property tax
Step 1. Move to USA Step 2. Count the savings
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Source: financialpost - 🏆 7. / 85 Read more »