Elsa Koertig, 48, is a single mom and schoolteacher in Moose Jaw, Sask. She earns $65,000 annually and her daughter Ingrid is heading to university. Ingrid’s straight As and clean sweep of provincial and national science fairs caught the attention of Ivy League schools, and her heart’s set on Princeton. She’s earned generous scholarships, but even after factoring in RESPs, the family faces a $10,000 annual shortfall. Elsa’s coming off a messy divorce and is saddled with mortgage, car and other debt payments. But if she could access the $100,000 stock-and-bond portfolio her deceased parents left her in trust, she’d be able to send Ingrid to Princeton. Elsa’s foggy on the details. She knows how much is in the trust, and remembers her parents saying they wanted it to fund her retirement. Can she tap the trust sooner?
Members of Gen X and Gen Y exude a sense of confidence about achieving key financial goals despite the obstacles they're facing, shows a report by BMO’s Wealth Institute.
The Canadian Securities Institute and the Association of International Wealth Management, are bringing the Certified International Wealth Manager (CIWM) designation to Canada.
By Thanksgiving, 47% of students at college or university had already asked their parents for money to help their day-to-day finances, shows a CIBC poll.
Informed investors are easier to work with.
Ontario student unions are joining anti-poverty, labour and community organizations in calling on the provincial government to increase the minimum wage to $14 per hour.
There’s now a designation for advisors who work on debt and cash planning with clients: Certified Cash Flow Specialist (CCS). It’s the first in Canada, says Stephanie Holmes-Winton, the designation’s founder and CEO of The Money Finder Financial Services Training Inc. “This program will give financial professionals a process, skill set and tools that are […]
Why read this? › Your clients have university-age children › Your clients or their children have been selected for CRA reviews Why was the return selected for review? Random selection Doesn’t match the client’s other tax filings Client has a history of CRA reviews Less common triggers include certain credits and deductions that are automatically […]
Consider this: Your clients are 27 years old and married. The wife wants to go back to school to get her MBA. She has not used her RESP room because her parents didn’t create one for her, and she attended her undergrad on a full scholarship. So she’s got questions.
People aren’t taking full advantage of registered accounts.