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Author: Michael Lampel

August 19, 2016 - Posted In: Financial Planning, Parents, Tax Preparation

What Will the New Canada Child Benefit Mean for My Child’s Future?

Millennial Parents Guide To Financial Planning For Children The Liberal government estimates the average family will receive nearly $2,300 more each year, thanks to the new Canada Child Benefit. But what does it mean for my family? There’s a reason I hire an accountant to do my taxes. Crunching numbers and keeping […]

August 17, 2016 - Posted In: Financial Planning, Parents, Tax Preparation

Yes, You Can Keep the Family Cottage In The Family

Millennial Parents’ Guide to Financial Planning by Michael Lampel The family cottage to many is a sacred treasure. It’s a place, according to parents, that must be preserved for the family. It holds such special moments and memories for everyone; every parent wants to ensure their children and grandchildren will be able […]

July 27, 2016 - Posted In: Financial Planning, Parents

Why I Can’t Afford to Inherit My Parents’ Cottage

Millennial Parents’ Guide to Financial Planning For Children The more I think about what will happen to my family cottage after my parents are gone (read our last post about it), the more overwhelmed I get. Most of the conversation so far has been around the importance of starting that initial conversation. […]

July 7, 2016 - Posted In: Financial Planning, Millenial, Parents

What Happens to the Family Cottage After My Parents are Gone?

Millennial Parents Guide To Financial Planning For Children My family loves going to the cottage every summer. My siblings and I grew up jumping off the dock, fishing with my dad, and celebrating our lives together by the lake. Of course, we were never comfortable asking our parents what happens to the […]

June 13, 2016 - Posted In: TFSA

Now is the Best Time to Start Saving for Your Child’s Future

First, let me address the difference between this generation (millennials) and my generation (baby boomers) by sharing the story of my first job after graduating with a degree in Economics in 1987. My first job was selling trucking services for a company called Inter City Ttruck Lines in Montreal. My first year […]

May 10, 2016 - Posted In: Financial Planning, Millenial, Parents, TFSA

How Will a TFSA Benefit My Family’s Financial Future?

I’m not going to lie, when I first opened a TFSA (Tax Free Savings Account) around four years ago, I really didn’t understand why. I was taking the advice of my family advisor, and while he tried to explain how the account worked, I was not fully grasping it. So I went […]

March 29, 2016 - Posted In: Financial Planning, Insurance, Millenial, Parents, RRSP

Not Just for Life After Death: Using Life Insurance As A Retirement Income Plan

Millennial Parents’ Guide To Financial Planning For Children By Michael Lampel As a parent of three, I understand there is nothing we won’t sacrifice for our children’s future — including sleep, health, financial future, and yes, even retirement. When I had my first child the last thing I was thinking about was […]

March 22, 2016 - Posted In: Financial Planning, Insurance, Millenial, Parents

What Life Insurance is the Best Option for My Young Family?

Millennial Parent’s Guide to Financial Planning As a parent, I would do anything for my children. I make sacrifices every day. I sacrifice my eight hours of sleep each night (really though, does such a thing even exist anymore?). I sacrifice the hobbies I used to love. I sacrifice my privacy and […]

March 8, 2016 - Posted In: Millenial, RESP

How Can I Give My Child a Debt-Free Life?

Millennial Parents Guide To Financial Planning For Children How much different would your life be if you were able to live free of debt? For millennial and gen-x parents, debt was almost a given when we were growing up. Our parents were unable to predict the rise in tuition costs; therefore student […]

March 1, 2016 - Posted In: Millenial, Parents, RRSP

How your spouse’s RRSP can help you stay home to raise your kids

You just started your career, you’re starting a family and it’s that time of year when the only thing less fun is root canal. Let me help you figure this out. They say in life there is only two things guaranteed. Death and Taxes. Every time you get paid your lending the […]

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