Man pens dead dad’s signature to alter will

Posted by Ravi Gulati | Posted in Financial Planning | Posted on 20-04-2014

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Fortunately for Andrew and the charities, Peter was a poor forger, and his dad’s solicitors became suspicious, the Mail reports. Brightly has since pled guilty to forgery and fraud.

Man pens dead dad’s signature to alter will | Advisor.ca.

Career break to care for kids comes with $150,000 annual cost

Posted by Ravi Gulati | Posted in Financial Planning | Posted on 16-04-2014

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Pay off small mortgage first. Then use former mortgage payments towards education and retirement savings. Accelerate money toward these things once Olive returns to work.

Career break to care for kids comes with $150,000 annual cost | Toronto Star.

Old Age Security: Better to wait or take it now?

Posted by Ravi Gulati | Posted in Financial Planning | Posted on 16-04-2014

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Marissa Verskin, a senior tax manager at Toronto accounting firm Crowe Soberman, says the decision on whether to delay collecting OAS or do it right away should depend on your personal situation. This includes your life expectancy, current and projected future income level and your expected rate of return.

Some of the other circumstances that may influence your decision are if you have chosen to work beyond age 65 or if you anticipate receiving a large one-time capital gain or lump sum at retirement (i.e., for accumulated sick leave credits or severance pay).

Old Age Security: Better to wait or take it now? | Toronto Star.

7 things I’ve learned about managing money

Posted by Ravi Gulati | Posted in Financial Planning | Posted on 16-04-2014

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I used to cut my sons’ hair when they were young. I’d dance around them while they played video games. But at age 12, both kids decided they had to see a professional hair stylist. Puberty does that to a young man.

“How much money did you save? And what did you do with it?” asked Mike Grenby, former money columnist at the Vancouver Sun, when I boasted to him about my frugality.

He said I should have started a bank account and put money into it each time I cut the boys’ hair. The money could have been used for a family vacation or other special project.

I’ve never forgotten what Grenby said about designating your savings and not letting them dribble away. It was an important lesson.

Here are few other lessons I’ve learned about managing money:

Pay your bills as they arrive

Use cash or debit

Don’t succumb to peer pressure

Take family vacations close to home

Introduce the kids to investing

Make your savings automatic

Pay attention

 7 things I’ve learned about managing money: Roseman | Toronto Star.