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Category: Parents

November 9, 2016 - Posted In: Financial Planning, Millenial, Parents, RESP, TFSA

Should I Save For My Child’s Education Or For Her First Home?

In Our Continuing Series Of Millennial Parents’ Guide to Financial Planning For Children By Michael Lampel I recently went to an open house with my wife to look at what $1 million would buy today. What I saw made me seriously concerned about our daughter’s future. A four-bedroom house with two bathrooms […]

September 9, 2016 - Posted In: Financial Planning, Millenial, Parents, RESP

Can My Mom and Dad Help Us Save For Our Child’s Education?

When I went to university, the cost for four years of tuition totaled $20,000. And that’s not including books, rent or other living expenses. Like most of my friends, I relied on student loans and odd jobs to get through university. My husband, on the other hand, was fortunate. His parents managed […]

August 19, 2016 - Posted In: Financial Planning, Parents, Tax Preparation

What Will the New Canada Child Benefit Mean for My Child’s Future?

Millennial Parents Guide To Financial Planning For Children The Liberal government estimates the average family will receive nearly $2,300 more each year, thanks to the new Canada Child Benefit. But what does it mean for my family? There’s a reason I hire an accountant to do my taxes. Crunching numbers and keeping […]

August 17, 2016 - Posted In: Financial Planning, Parents, Tax Preparation

Yes, You Can Keep the Family Cottage In The Family

Millennial Parents’ Guide to Financial Planning by Michael Lampel The family cottage to many is a sacred treasure. It’s a place, according to parents, that must be preserved for the family. It holds such special moments and memories for everyone; every parent wants to ensure their children and grandchildren will be able […]

July 27, 2016 - Posted In: Financial Planning, Parents

Why I Can’t Afford to Inherit My Parents’ Cottage

Millennial Parents’ Guide to Financial Planning For Children The more I think about what will happen to my family cottage after my parents are gone (read our last post about it), the more overwhelmed I get. Most of the conversation so far has been around the importance of starting that initial conversation. […]

July 7, 2016 - Posted In: Financial Planning, Millenial, Parents

What Happens to the Family Cottage After My Parents are Gone?

Millennial Parents Guide To Financial Planning For Children My family loves going to the cottage every summer. My siblings and I grew up jumping off the dock, fishing with my dad, and celebrating our lives together by the lake. Of course, we were never comfortable asking our parents what happens to the […]

March 29, 2016 - Posted In: Financial Planning, Insurance, Millenial, Parents, RRSP

Not Just for Life After Death: Using Life Insurance As A Retirement Income Plan

Millennial Parents’ Guide To Financial Planning For Children By Michael Lampel As a parent of three, I understand there is nothing we won’t sacrifice for our children’s future — including sleep, health, financial future, and yes, even retirement. When I had my first child the last thing I was thinking about was […]

March 22, 2016 - Posted In: Financial Planning, Insurance, Millenial, Parents

What Life Insurance is the Best Option for My Young Family?

Millennial Parent’s Guide to Financial Planning As a parent, I would do anything for my children. I make sacrifices every day. I sacrifice my eight hours of sleep each night (really though, does such a thing even exist anymore?). I sacrifice the hobbies I used to love. I sacrifice my privacy and […]

March 1, 2016 - Posted In: Millenial, Parents, RRSP

How your spouse’s RRSP can help you stay home to raise your kids

You just started your career, you’re starting a family and it’s that time of year when the only thing less fun is root canal. Let me help you figure this out. They say in life there is only two things guaranteed. Death and Taxes. Every time you get paid your lending the […]

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