RESP investing for busy parents + MORE Oct 15th

There are more investment options in Canada than you can shake a stick at! Stay on top of the best returns right here.
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The best banks in Canada + MORE Oct 16th

Most Canadians are aware of the Big Five banks: RBC, TD, Scotiabank, BMO and CIBC. And some may even know that occasionally National Bank of Canada sneaks in and expands that list to six. But even with these accounted for, there are dozens of banks in this country, each offering its own suite of per.... More »

Cruise ship rescues 24 people from boat off Florida coast - MSN Canada Oct 18th

Cruise ship rescues 24 people from boat off Florida coast  MSN CanadaIs Royal Caribbean Stock a Buy?  Motley FoolJudge Warns Carnival of Needing Ship Certification 60 Days Prior to Sailing  TravelPulseIs it worth it to book a short 3-night cruise?  Royal Carib.... More »
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Making sense of the markets this week: October 26 Oct 23rd

Each week, Cut the Crap Investing founder Dale Roberts shares financial headlines and offers context for Canadian investors. The pandemic holiday season is near This will be our first “global pandemic holiday season.” That phrase does not have a nice festive ring to it, I know. And it might not .... More »
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In a Slump? 4 Promotions Ideas to Bring in Restaurant Customers Oct 23rd

Being a restaurant owner or manager is currently one of the world’s most challenging jobs. A few months into the Coronavirus pandemic, most states imposed lockdowns and bans on sit-in dining were. As their customers stayed home, these establishments saw their revenues go into a steep decline. .... More »
Saving for university isn’t always top of mind when you’re a busy new parent, knee-deep in diapers. Add the steep cost of daycare along with the stress of trying to juggle work and toddlerhood, and setting aside funds for your child’s post-secondary education can feel like an insurmountable task parents have neither time nor money for. And, so, it gets put off. According to an August 2020 report from Statistics Canada, 50% of all post-secondary students graduate with a median debt of $17,500. 
Faced with the economic uncertainty brought about by the COVID-19 pandemic, longer-term financial planning may not feel like a priority for some families. But the truth is that putting a plan in place for your child’s post-secondary education is more important than ever now; with the end of the pandemic still uncertain, it’s a way to start getting ahead of future uncertainty. The good news is that CST Spark makes setting up a Registered Education Savings Plan (RESP) a snap. Parents can control exactly how much or how little they want to contribute at any given time…

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Q. We have had a family RESP for many years with three beneficiaries: a son of mine from a previous marriage and two kids of our own. I have been the only subscriber for the RESP as it is my understanding that in order for there to be joint subscribers (that is, myself and my wife), all beneficiaries must have a blood relationship with all subscribers. That rules out my wife as a joint subscriber, as she obviously does not have a blood relationship with my son from my prior marriage.
 If my understanding above is correct, how does it work if I want to name a successor subscriber in my will? Can I name my wife, as she would then be the sole subscriber in the event of my passing? If not, who could I appoint?
–Bill
A. Bill, you’re good. Your wife can be a joint subscriber without literally being a “blood relative.” Here’s confirmation from the Government of Canada website, in sections 4(f) and (g).
Joint subscribers can be the parents, guardians; spouses or common-law spouses. 
With that cleared up, I need to ask: Have you given any thought as to RESP contribution strategies?
Most people aim to contribute $2,500 a year, in order to maximize the annual grant of $500, which is 20% of $2,500…

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Best Deals In Best Buy’s Early Black Friday Sale: Cheap Games, 4K TVs, Headsets, And More  GameSpotAmazon Prime Day 2020 is almost over – shop these Canada deals before it’s too late  Yahoo Canada Shine OnPrime Day Nintendo Switch deals: Unbeatable Nintendo Switch Lite price drop ends in 15 minutes!  Creative Bloq15 of the best Prime Day deals that are quickly running out of stock (or will be soon)  TechRadarPrime Day 2020 may be over – but there are still tons of deals to shop on Amazon Canada  Yahoo Canada Shine OnView Full coverage on Google News

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