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5 Ways to Balance Your Family's Multi-Generational Financial Needs

Written by Marcy Ages, Vice President & Certified Professional Consultant on Aging, B.A, CIM, CFP, CPCA, CLU

Today, many people find they have to make a choice between adequately funding their retirement, their children’s post secondary education, and providing financial assistance for their elderly parents. You shouldn’t have to make that choice.

As a member of the sandwich generation, you’re responsible for all of the regular activities associated with raising a child. You drive in the carpool, take your son or daughter to extra curricular activities and help them with their homework. You also take care of the various expenses associated with running a household. On top of all this, you would like to pay for your children’s post secondary education if possible.

At the same time, your parents have reached the point where they can still live at home but they now need help with their day-to-day lives. They may need assistance with grocery shopping or a lift to their   doctor’s appointments. You may have to leave work in the middle of the day to run errands for them and might even have to shorten your working hours, which could lead to less income for you. If they can’t afford to have help at home, you will either have to spend time at your parents’ house helping out with the daily chores, or use your own money to pay someone to do so.

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Discover what you can be doing tax-wise throughout the year with our helpful checklists. If you want to make staying on top of your taxes even easier, have your T.E. Wealth consultant prepare and file your family’s income tax returns.

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via Advantage | Jan/Feb/Mar 2015

President and CIO Steven Belchetz is linking T.E. Wealth’s clients with the best managers while also offering solutions to marginalized communities.

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An executive position at a company often comes with a huge salary bump, and with the extra money comes extra headaches, including new considerations in the areas of retirement planning, estate planning, and tax planning and preparation. T.E. Wealth is here to help, though.

Founded in 1972 as a financial consultancy, the organization now has $3.5 billion in assets under management and is considered “Canada’s best-kept secret,” according to president and chief investment officer Steven Belchetz. The firm wants to shed its remaining anonymity, though, by connecting its clients with more top managers and continuing to branch out in its key areas: executive financial counsel (EFC), private-client services, Aboriginal services, and financial-education and employer services (FEES).

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