via The Globe and Mail | December 5, 2014
When they moved back to Canada from the United States last year, Pamela and Alex found they needed a whole new financial plan. She is 47, he is 50. They have two children, ages 9 and 13.
They both work in music education, bringing in a combined $171,360 a year before tax including fees from private teaching.
“We are trying to get a handle on how we’re doing,” Alex writes in an e-mail, “specifically, what we’re not doing that we should be doing.” They know they need to set aside money for their children’s higher education immediately, “but we’re new to the system and we don’t know where to begin or how much we should be putting away each month.”