Comments on: Financial Advice For Parents

By: Jay

Jay — Wed, 18 Jul 2007 23:11:39 +0000

A little bit out of PF line of discussion, but do you have your household emergency plan?

By: Eric

Eric — Thu, 09 Nov 2006 14:17:54 +0000

Maybe a studid question, but is a lawyer doing your will? You mentioned you spoke to one but that you’re still working on it. My wife and I have a 15 month-old son and we’ve been meaning to do a will since we were married over 2 years ago!!

By: Canadian Capitalist » Life Insurance: How Much?

Canadian Capitalist » Life Insurance: How Much? — Wed, 08 Nov 2006 04:25:41 +0000

[...] As I noted in yesterday’s post, my wife and I purchased term life insurance for each of us as soon as our kids were born. Some of the comments I received inspired me to write this post. [...]

By: growth in value

growth in value — Tue, 07 Nov 2006 15:51:58 +0000

Interesting to note you focus on padding the RRSP over paying off the mortgage. I’m very debt-averse myself so I’d probably plow any excess money I had lying around into paying down major debts first before topping up my equity investments.

But different strokes for different folks, I guess. I suppose that impulse will wane as I get better and better at investing. My RRSP is up about 15% already this year, so maybe the tide’s starting to turn.

By: Big Cajun Man

Big Cajun Man — Tue, 07 Nov 2006 15:49:18 +0000

Aaahhh… yes indeed, ok I misunderstood. Yes life insurance is very important, and TERM life insurance too, no whole life silliness.

–C8j

By: Wealthy Geek

Wealthy Geek — Tue, 07 Nov 2006 14:05:37 +0000

Capital advice, Canadian Capitalist! Tell me though: do you have an opinion about getting life insurance for kids? The general consensus seems to be that you’re much, much better off putting that money into an RESP instead, since there is a far greater chance of your kids going to university than there is of them, well, dying while still children. Do you have a different or similar take on this sort of thing?

By: Canadian Capitalist

Canadian Capitalist — Tue, 07 Nov 2006 13:52:16 +0000

Alex: Congratulations. We use TD eFunds account for a RESP. Here is an earlier post that might help you get started: RESP: Getting Started Big Cajun: The life insurance is for us, not the kids. I have life insurance from work too, but I don't think it is nearly enough should something happen to us.

By: Big Cajun Man

Big Cajun Man — Tue, 07 Nov 2006 12:41:58 +0000

Why life insurance for kids? I have it from work because it costs nothing, and it is really only enough to cover funeral arrangements and such?

–C8j

By: Alex Harford

Alex Harford — Tue, 07 Nov 2006 04:56:17 +0000

Thanks for the tips! I’ve got a baby on the way in a few months, so I’ve been looking in to this.

Do you have any RESP accounts that you recommend. Most I’ve seen charge an administration fee, and I’d like to avoid that.