The Four Seasons of Financial Planning

Just as the group by the same name actually began their careers as; The Four Lovers, we are hoping that the same degree of passion can be brought to bear on Financial Planning. Why not? Just because it’s never been done before, doesn’t mean it can’t! Don’t the four sins include money (along with sex, eating and….) So, let’s begin with

Winter: There is a deadline fast approaching. If you have kids and you want to get them educated beyond high school and, you want them to get access to free money and, stealing is not an option. Here’s a way to do that.

Here’s the best part, you get to receive that free money from the government. Yes, you heard that right! Now some might argue that it was your money in the first place but I wouldn’t go there right now. Just stick with the joy of knowing this is free money and leave it at that.

December 31st is the deadline for these plans called; Registered Education Savings Plans. This is not a forever deadline, you can still get free money next year and keep that scheme going for a while. It’s just that there are some restrictions so it’d be good to talk to a Financial Planner about that so you don’t lose the opportunity to take advantage of these plans.

P.S. There is also an ugly rumour going around that if you don’t get another plan in place before the end of December – that would be a Tax Free Savings Account (TFSA), - you lose this years contribution amount - don’t believe it, it’s not true!

Oh yes, and another deadline, ever heard of a Registered Disability Savings Plan (RDSP)? If not and, you qualify, December 31st is another important deadline for you (or your child).