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Aging Family Members
While it can be a sensitive subject to discuss, it is essential to plan for the changing needs of aging family members.
FINANCIAL TIP: There are several areas to consider, from health care to living wills, power of attorney to housing and home care needs. Work with your financial planner to address needs that are vital to your loved ones and you.
Whether you are considering having children or helping them transition to independence, you can take steps today to enable their future success.
FINANCIAL TIP: Money isn’t everything, but the cost of raising one child to adulthood in Canada was estimated by MoneySense.ca at $253,856. A financial strategy can address the impacts and issues that arise.
With education costs on the rise, it’s never too early to look at saving for your children’s future.
FINANCIAL TIP 1: Registered Education Savings Plans (RESPs) need to be registered jointly between parents to avoid legal complications should something happen to one of them.
FINANCIAL TIP 2: The Alberta Centennial Education Savings Plan provides grant money for higher education. However, your children must also be enrolled in RESPs.