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Article content In small town in Ontario, a woman we’ll call Judy, 43, lives with her daughter, Suzy, age seven. A widow, Judy has a monthly income of $11,651 composed of a civil service salary, $1,320 from her late husband’s pension and Canada Pension Plan survivor benefit, $247 from the Canada Child Benefit and $1,500 in rental income. After tax, it works out to $7,485 per month and covers $6,918 in expenses, including the $2,190 monthly mortgage cost on her rental unit. Judy’s issue is to determine if she can retire at age 57 with a civil service pension and have $75,000 per year after tax in 2021 dollars. She wants to build Suzy’s $21,274 RESP to a level at which it can provide income for her first and perhaps second degrees. She is also interested in building a $90,000 addition to her house.

British columbiaDerek moranAndrew allentuckFinancial planning ltdNational post photoCanada pension planCanada child benefitSmarter financial planningFamily financeCanada education savingsOld age securityபிரிட்டிஷ் கொலம்பியாடெரெக் மோரன்நிதி திட்டமிடல் லிமிடெட்தேசிய போஸ்ட் புகைப்படம்கனடா ஓய்வூதியம் திட்டம்