Our children and grandchildren are our (and the world’s) most important, most loved and treasured assets.

No financial plan would be complete without including a program that could help them reach their full potential. Often, assisting these younger individuals takes (in addition to love, family time, emotional support, proper nutrition, and interesting and fun exercise and sports programs, habits) … well, simply put, it takes money.

We don’t need to hand off to our children, grandchildren, nieces and nephews, and young friends that we love “a city paved with gold.” However, giving them each a “golden shovel” that will help them dig up their own future gold, could make a life-changing difference.

We want to create a foundation and structure that will help them successfully pursue their goals. These goals can take many forms:

• Creative arts
• Sports
• A business
• College
• University
• Trade school or apprenticeships
• Real estate investments
• A marriage
• Enrichment programs
• Technological support

Starting a financial plan to help successfully launch your child whether they are an adult now, a teenager, or a young child involves having a discussion about how you want to help the child without jeopardising your own financial plan. In addition, if you know that the child is interested in a particular field, has talents they want to develop, or has different goals for different stages (ex. an athletic career followed by a business idea) then these would be important to include.

There are at least seven sources of funding for College Apprenticeship programs or universities.

Starting an financial program for your child may include, but not be limited to, the following:

• RESPs (Registered Education Savings Plan)
• In Trust For Accounts
• Open investment or segregated fund accounts
• Life insurance funding’An annuity
• TFSA (Tax Free Savings Plan, if your child is over age of majority)
• RDSP (Registered Disability Savings Plan—if your child has been assessed as having special needs)

Once your child is interested in planning for their future, we would include them in these discussions. The introduction of a financial plan geared to them and their goals can be a very uplifting, interesting, and inspiring experience. We would like to support this important endeavour for you with all the resources possible.