Bill attached to cash

How much does working parent REALLY make?

Immigration into a working parent matrix Like many of us, I immigrated to Canada with big dreams and aspirations. I was dreaming about a new car, fancy clothing, and working from the glamorous premises of a financial establishment.  When I landed a decent job with the bank, I could not be happier. It wasn’t until […]

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CHANEL purse vs. Stock Options

There is something magical about Chanel purse. But this is not what some men think. Unfortunately. There is also a lot of fun to own some high-risk stock options. Fortunately, most women know little about it. Let’s see. I never made any serious money on the stock market. But, I am a lucky owner of […]

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child care costs, divorce, Section 7

My Million Dollar Child – completing Section 7

MY STORY: Over a decade ago, while fighting in court on a $17,000 date-of-marriage deduction, my ex-husband and I had completely missed the importance of Section 7. We could not imagine that our child care cost would end up just a bit short of 1 million dollars. Mind you, we did not have anything like […]

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Divorce and Taxes

CRA Tax Status & Divorce: Separation Date

The CRA and Family Law have different definitions on what is considered to be a separation date. For example, under a Family Law’ definition a couple living in the same house, with a number of qualifying circumstances, can be considered separated. This is important for property division. However, it’s after you physically move out to […]

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RRSP

RRSP & Divorce; hidden wealth

As a financial advisor, I could never agree with ubiquitous RRSP propaganda in Canada. I always spent time educating my clients about the pros and cons of this program. However, when it comes to a property division due to a divorce, registered retirement savings plans represents a huge opportunity for spouses with different marginal tax rates. […]

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Form 13.1

Budget & Divorce

Budgeting is one of the most popular New Year resolutions in North America. Spending wisely, tracking daily expenses, and avoiding costly credit cards are on everyone’s agenda in January. Regrettably, all this enthusiasm evaporates by the middle of the month. Why? Lack of specific financial goals and no practical knowledge about budgeting are the culprits […]

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Divorce Myth. “The Woman gets it all”

There is a general public misconception that during the divorce process, women get it all. Though I can’t speak for every single case, I would like to share my professional experience and personal observations. The Financial aspect of divorce comes down to the following three major issues: financial well being of the children, spousal support […]

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Love under Construction

Anyone who has gone through the home buying process eventually faces this decision – purchase a home in need of renovations (and save money) or purchase a more expensive home that’s live-in ready.  Couples who select the renovation route should do so with a blend of caution and realistic expectations in order not to bury […]

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Pension and Divorce in Ontario: 3 major steps

What do you need to know about pension and divorce in Ontario, is that the issue is not any less emotional than the one of a matrimonial home.  The monetary value of a pre-retired teacher’ pension may easily exceed the value of a decent mortgage-free home. Though, unlike real estate, pension is a less tangible […]

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7 Credit Score Boosters (from ex-banker)

After publishing my first article about divorce and credit score I have received a lot of calls and e-mails with questions on how to improve one’s credit score in simple and manageable way. After 9 years of banking experience I would like to share my top seven tips on how to boost your credit starting […]

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