The current compensation model for financial industry participants*, who promote the use of investment funds and other managed investment products for retail clients, has been mostly unchanged for over 30 years.
The wedding and honeymoon are over and you're settling in to your new life. You've accomplished many goals together over the past year with compromises being made over wedding plans, honeymoon destination, and a million and one other details. As you settle in for a long and fruitful life together, it's an ideal time to discuss your financial goals and map out an effective tax strategy that supports it.
Create an Investment Strategy for Your Tax Savings
As Joe Farnsworth* from Toronto discovered, published return percentages do not necessarily tell the whole story of an investment portfolio performance. Joe retired 9 years ago from the Toronto Police Service from which he collects a serviceable pension each month.
A minor fire storm of gossip and criticism hit the Toronto talk radio airwaves in early June as preparations for the Canada 150th birthday celebrations were fully underway!
The Province of Ontario, as part of the Ontario 150 tour, gave away a large grant funding (free money) with a portion going towards the rental of a large yellow duck. Reputedly the world's largest yellow duck, the six-story giant inflatable waterfowl was showcased at the Redpath Waterfront Festival from July 1st – 3rd in Toronto.
Have you considered putting aside extra funds for the teenage years?
If you have not thought about this, then you may want to if you have a child that is quickly headed towards the adolescent years. This can be a turbulent time, not just with the emotion and drama it can bring, but also with all of the associated expenses that it can add to the family budget.
When you think of your family financial strategy, you need to consider each and every phase of life. To their detriment, many families do not consider just how expensive the adolescent years can be.
