Newsroom

As the saying goes, “Give the man a fish, and you feed him for a day ; teach the man to fish, and you feed him for a lifetime.” The same principle applies to financial literacy.

This may sound familiar: your first home started out small, but as your family grew, you needed more bedrooms and a larger backyard.

Ever wondered how much it costs to raise a child? In Canada, estimates suggest it will set parents back an average of $293,000 from birth to age 17. In the U.S., that figure may be even higher, estimated at roughly US$303,418, even after tax credits.

Beneficiary designations matter more than many people realize. Every so often, we hear about situations where an outdated beneficiary designation overrides instructions in a will; for example, when a registered account names a former spouse, resulting in assets being paid directly to that individual regardless of the current will.