Life can sometimes change your financial plans. Make sure your plan stays current and is flexible enough to adapt to some of the events you might experience in this stage of life.

Step 1 - Setting your goals Step 2 - Determine how much to save Step 3 - Determine what your goals will cost Net Worth Calculator Download the brochure

Marriage or living together

Whether you're living together or legally married, communication is key when it comes to partnership finances. Discussions around finances should include things like what your financial goals are, how you want to invest your money, and any short, medium or long-term objectives. Sit down with your partner and write down the details:

Your present net worth, including all your assets
Combined salary
Your current commitments - payments, debt, etc.
Your shared goals, and how much you think you'll need to achieve them

Consider the following:

Cash flow - work together to plan so that you don't spend more money than you have coming in. Any leftover money can go towards saving for contingencies, big purchases like a car, house or vacation, or most importantly, retirement.

Debt - if you or your partner are in debt, and need to restructure your finances, talk to your Altamira Advisor about the best ways to pay it down.

Taxes - know how much tax you pay. Are there any tax credits you're eligible for as a couple that you're missing out on? there ways to reduce your tax liability?

Planning for your child's future

With rising college and university tuitions, as well as books, accommodation, and personal expenses, increasing pressure is being put on families to save enough to finance their children’s education. Some sources predict that in 18 years – assuming an annual inflation rate of 3% – tuition alone for a four-year degree will cost about $31,000*

* Based on average Canadian undergraduate student university tuition of $4,347 for 2006/2007 academic year, as published by Statscan, survey number 3123.