5 Ways To Rock Your Family Finances – Easy Tips To Follow

Melissa Gencher is a Montreal Investment Advisor. Today, on the Okidgo blog, she has some great tips for us!

Melissa Gencher Investment Advsior Okidgo Montreal

Melissa Gencher is a Montreal mom and Investment Advisor. She loves helping families set themselves up for financial success. Today, on the Okidgo blog, she has some great tips for us!

Melissa, parents are naturally concerned about planning for their family’s future. What practical tips can they implement right now?

There are several things that people can do to take control of their finances and plan for their future, and most of them are pretty simple.

As an Advisor, my role is to help guide families through these steps and provide advice and support along the way. My goal is to help you better understand your investments, increase your “financial literacy” and making you feel more comfortable and confident along the path to your financial future.

Melissa Gencher Investment Advisor Okidgo Montreal

SET YOUR GOALS AND MAKE A PLAN!
Answer these questions:
1. What are you are saving for? A new house? University? Retirement?
2. When do you want it? Determine the timeline for each of your objectives.
3. How will you get it? Take ownership of your financial future.

MAKE AUTOMATIC MONTHLY CONTRIBUTIONS!
Even if you can only save a small amount, that money will grow in the long-term if properly invested.
1. Examine your budget to determine how much you can afford to set aside each month.
2. Set up automatic monthly contributions from your bank account to your investment accounts. You will have one less thing you have to remember.

SHOW YOUR RRSP SOME LOVE!
Did you know that…
– every year, when you contribute to your Registered Retirement Savings Plan (RRSP), you will get a tax refund
– your RRSP can help you purchase your first house by using the Home Buyers Plan.
– the money you save today in your RRSP will help you to retire when and how you want.

GET GOVERNMENT $$$ TO HELP PAY FOR YOUR CHILD’S EDUCATION
Here’s how an RESP can help:
– A Registered Education Savings Plan (RESP) encourages you to set aside money for your child’s post-secondary education
– The Canadian government will match 20% of your contributions, up to $500 per year
– The Quebec government will match 10% of your contributions, up to $250 per year

Melissa Gencher Investment Advisor Okidgo MontrealSEEK PROFESSIONAL ADVICE
Here’s when you should seek extra help:
– You want to explore ways to achieve your financial goals more quickly and easily
– You want help navigating your financial concerns
– You want peace of mind

An Investment Advisor has tools and knowledge that can help you achieve your goals more efficiently than if you are managing your portfolio on your own.

A good Advisor is someone to whom you can relate and with whom you can create a personal connection. Your Advisor should give you the sense that you are being taken care of, and give you a genuine feeling of peace of mind.

Thanks so much, Melissa! Parents, if you want to learn more about Melissa and her service, please see her listing on Okidgo!

(Photos thanks to Melissa Gencher)

 


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