Globe & Mail
October 7, 2022.
Financial and family planning are one and the same. Starting a family can be one of the most important and expensive decisions of someone’s life. To ensure that they’re best equipped from a financial perspective, starting a conversation with an advisor early can ensure they’re coached along the way.
With an expensive housing market, rising interest rates, inflation, and a potential economic recession looming, daily living expenses and childcare are becoming increasingly out of reach.
As parents work to ensure their child’s health, safety, and education in a more unpredictable environment, planning for a child’s financial security is an important way to safeguard their future.
An experienced advisor can work to ensure a client’s financial house is in order starting with setting up a registered education savings plan (RESP), educating clients on the childcare deductions available, recommending a life insurance plan, and updating wills to reflect their wishes.
*Globe Advisor subscription required.
