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Drawing the line on an adviser relationship
Question My parents are in their 80s and have an investment portfolio of about $1.4 million. They have been with the same adviser at a major bank for decades and say she is like family. They have...
View ArticleHow to deal with hoarders
In an age where we use our stuff to define us, is it any wonder that the very stuff we accumulate turns into an emotional trap we can’t shake off? Despite reports that nobody is saving enough for the...
View ArticleFamily values
Does the notion of staying at home with the kids appeal to you? While the lifestyle has lost some of its mainstream charm, it’s still an achievable goal. But it takes careful planning and some drastic...
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Deep in debt with a baby on the way
Question My wife and I are expecting our first child in a few months. We currently have a combined income of about $150,000, but we are not sure how we are going to manage financially while she is on...
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Dos and don’ts of holiday spending
Question I’m one of those people who wake up every year on January 1st with buyer’s remorse. Do you have any tips to help me manage my holiday spending? Answer ’Tis the season to be shopping. And while...
View ArticleDealing with financial elder abuse
You’ve seen the ads on TV: Young man reaches into his grandma’s wallet and takes her money and then storms away. The Statistics Canada reported that in 2007 seven per cent of older adults are suffering...
View ArticleMarch Break without breaking the bank
MoneySense’s Bruce Sellery talks to Breakfast Television‘s Dina Pugliese about setting a holiday budget and sticking to it, all while having fun with the kids.
View ArticleEldercare mediators can help families
The aging of the Canadian and the global population will mean new business opportunities across a wide range of industries. One that caught my eye recently is a counselling or support service for...
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Paying for firsts
A new poll by TD Canada Trust shows Canadians are struggling to finance some of life’s biggest milestones on their own. To fill the gap, young people are turning to family and friends, credit cards...
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The long and whining road
Ah yes, the family road trip. Perhaps no other phrase has more power to set parental hearts aflutter with anticipation and dread. There will be whining and fighting—that’s a given. There will be...
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How to fund a family vacation
Illustration by Amedeo De Palma Derek and Rhonda Goldman were ecstatic when their newborn daughter Matilda arrived earlier this year. Big sister Kristen, four, also loves having the baby around, but...
View ArticleAverage cost to raise a child in the U.S. tops $245K: Report
WASHINGTON – A child born in 2013 will cost a middle-income American family an average of $245,340 until he or she becomes an adult, with families living in the Northeast taking on a greater burden,...
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‘Sandwich generation’ perks and pitfalls
I’ve always had ambivalent feelings about the expression “sandwich generation,” which was in the news again last week when BMO Nesbitt Burns put out its latest “retirement readiness” study. The...
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Great Recession may result in 427K fewer babies
(Getty Images/claudia veja) NEW YORK, N.Y. – When the economy tanks, women have fewer babies. But what happens in the following years, when conditions improve? A massive new study suggests that for...
View ArticleHow income splitting landed on the agenda
As predicted in the morning papers, the Conservative government has formally announced its long-promised introduction of family income splitting. A $4.6 billion-a-year package of tax measures was...
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Who will benefit the most from income splitting?
(MARCO DE SWART/AFP/Getty Images) The federal Conservatives moved on a four-year-old election promise Thursday by introducing income splitting for families, dubbing it “The Family Tax Cut.” The...
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Unpacking the new tax breaks for families
Raising one or more children? Get every penny you’re entitled to when filing your 2014 tax return this April by understanding the new tax measures for families recently introduced by the federal...
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The real cost of raising kids
The cost of raising a child has increased by more than $10,000 over the last four years. (Cultura/Liam Norris) Having kids changes your life in many ways: sleepless nights, runny noses and a lighter...
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Having a baby? Update your financial plan
(Illustration by Ryan Inzana) For most people, travelling to a destination wedding in Paris would be a cause for celebration. But for new parents Marie and Alain Martin of Hamilton, Ont., the...
View ArticleDeep in credit card debt with a baby on the way
Q. My wife and I are expecting our first child in a few months. We currently have a combined income of about $150,000, but we are not sure how we are going to manage financially while she is on...
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