Stop calling Canada's latest big idea a sovereign wealth fund | About That – CBC + MORE May 1st

When David Walter’s preteen daughter offered to contribute rent money out of the blue, he decided it was the perfect moment to talk about housing costs. “She’s a bit of an entrepreneur,” he said of his eldest of four kids. The 11-year-old was already earning her own money, buying and selling repackaged items.

Walter, a financial planner at Sun Life, recalled discussing housing costs and why it was inappropriate for parents to charge a preteen for accommodation. However, that income could still be put to good use. He recommended his daughter sock the money away in a savings plan for her education, her first car, or another bigger goal. And so she did. 

Introducing kids to family finances

Walter started introducing his kids to household finances when they were about seven, and he is a firm believer that most families should, too. He says it lays the groundwork for kids to approach money talks with ease and curiosity as they grow up and begin to handle their own finances…

Stop calling Canada’s latest big idea a sovereign wealth fund | About That  CBCOpinion: Should debt-ridden Canada really be borrowing $25-billion to invest more?  The Globe and MailPrime Minister Carney announces the Canada Strong Fund – Canada’s first sovereign wealth fund  pm.gc.caKelly McParland: Canada Strong is still Canada deep in debt  National PostOpinion | Canada Strong Fund is a great idea but where will the seed money come from?  Toronto Star

I often write about the immigrant experience and the differences between life in Canada and what many of us leave behind when we make the move. In most cases, those differences are quite stark: financial systems, cultural norms, even the way we think about money and plan for the future.

Rarely do I come across something that feels universally consistent across both worlds. But I think I’ve found it: The worry parents carry for their children.

That worry takes many forms. We worry about their health, their happiness, their safety. We question whether we are doing enough, whether they have everything they need, and whether the decisions we are making today will serve them well tomorrow. It is a constant undercurrent—one that evolves as they grow, but never really goes away.

And while those worries vary from family to family, there is one concern that seems to cut across cultures, geographies, and stages of life: the financial future of our children.

For some, that concern starts even before parenthood…