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Archive for the ‘english’ Category

SINGLE MOM, 53, NEEDS HELP

In Quebec, a single mom we’ l l call Charlotte, 53, has seen her daughter, 22, through university. Charlotte’s life in financial terms is based on her middle management job with a large financial business which provides $ 3,974 monthly take home income. Unfortunately, it’s not enough to pay her bills which add up to $ 4,609 a month.

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Retirement Planning 101

As a financial planner, my job is never who have been transferred abroad who need advice; I have clients who need help with their estate planning, insurance planning, divorce issues, cash flow planning etc. After 28 years of experience one would think that I have seen pretty much everything, but there is always a client who shows up with a new wrinkle—that’s why my job is never boring.

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couple juggling debt

The couple’s problems centre on the complexity of their plans … how much to put in each basket. ‘We’re scrimping and saving, but we may not be doing enough. How can we improve our budget?

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your corporate buyout offer

Buyouts are often a polite term for getting fired with benefits, but there are cases when the employee can negotiate terms with the employer, arrange the timing — such as getting cash benefits paid over a two year period to reduce the tax bite, and, with a view of what is coming, take vacation time or get paid for not taking it, use the company car while you can or price a replacement car.

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Nearing 50 and in debt

Couple, 49, with large debts but substantial assets — mostly in real estate — and income want to retire at age 59 Sell unproductive assets — a trailer and lot they use occasionally — to reduce debts, plan income to cover future expenses

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A little market savvy

Woman’s huge debts and costs of paying child’s tuition make it impossible to retire with desired income Use line of credit to pay high interest debt, economize to boost savings, retire with adequate income. The first move is the easiest — consolidate the $10,600 credit card bill with its sky-high interest rate, 19.99% per year, into her present home equity line of credit.

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A life of no work

A couple we’ll call Victor and Suzy have decided to drop out of the struggle to make money. Ontario residents ages 50 and 48, respectively, they have no children or other dependents, no debts and they are frugal to a fault. Their plan, already in process, is to quit their work and enjoy life. As a result, their incomes have slumped to what amounts to subsistence — together they bring in just $20,000 per year.

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Cross-border issues

Their lives are those of creative people who struggle with the art of complying with the taxes of two countries, for Paul is a U.S. citizen, resident in Canada for a decade. A tenured professor of sculpture, he brings home $4,800 a month. Marianne, a self-employed painter and Canadian citizen, has a fluctuating take-home income of $1,800 a month.

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It pays to be a little paranoid

Say you are 30 and you feel it’s time to think about retirement in three decades. There is a lot unpredictable about those 30 years. You could have children. Your parents could need financial help. A business or a career can flop.

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Migrating to retirement

In Toronto, a couple we'll call Louis, 57, and his wife, Helena, 54, are real estate agents. In that bubbly market, they bring home $12,813 a month after tax.

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