How to use your Tax Free Savings Account (TFSA) as your Child’s Education Savings Plan
What’s a Tax Free Savings Account (TFSA) A Tax-Free Savings Account is a Canadian government registered account available to all Canadians over the age of 18. Started in 2009, contributors (depositors) are permitted to deposit a government set amount of money every year into their TFSA account. The amount of the annual contributions are set […]
How can I save money for my child’s future and give them a head start?
Every Canadian parent has the same goal: Give their child every opportunity in life to succeed, regardless of the economic climate. However, in 2025, the challenge for parents has shifted. With the cost of every day living from groceries to housing rising faster than the rate their incomes can keep up, a staggering 84% of […]
What does Chat GPT think of Child Plan™?
A Child Plan™ is a type of life insurance policy that combines life insurance with a savings component to provide both protection and savings for your child’s future needs. Here are some benefits of a Child Plan™: Flexibility A Child Plan™ offers more flexibility than an RESP in terms of how the money can be […]
How Grandparents Can Help Pay for the Rising Costs of Education
Millennial Parents’ Guide to Financial Planning for Children: By Michael Lampel I’ve spoken with many grandparents who are looking to help save for their grandchildren’s education. After all, education is expensive and this is only going to continue to be the case. By the year 2031, the cost of education is expected to rise to […]
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 home and did […]