Karl Warden is losing his job — and his pension. At least he’s getting a big payout. But howshould he use his money to rebuild his retirement plan?

National Post, by David Dias
September 2006

Only ear ago, Karl Warden’s path to retirement seemed clear. As the supervisor of a pulp mill in Ottawa, he was earning $80,000 a year and, although only 48, was just seven years from his permanent vacation, funding a well-earned retirement with his company’s defined-benefit pension plan. All that changed last November. “We showed up at work one day and the mill was closed,” says Karl (not his real name). “We gathered for a meeting and w e re told that the mill would be shutting down over the next year. We’d all lose our jobs.”

To make matters worse, the company also announced it would be terminating its pension plan. In its place, each employee would receive a one-time buyout worth the “commuted value” of his or her contributions. In Karl’s case, that amounted to $350,000. In addition, he would receive severance of $95,000, plus a “bridging benefit” of $100,000.

All told, his fare-thee-well package would be worth $545,000 when the plant closed for good.
Today, just weeks away from a pink slip, Karl faces the most important investment decision of his life: how to invest his payout to secure his retirement.

Full text: Karl's Choice

CALGARY (CP) — Communication is always the key to good financial planning, but when it comes to the intricacies of a second marriage, it becomes vital

Canadian Press, by James Stevenson
July 2006

"For every one issue in the formal traditional family, there are 10-15 issues in the blended family," says Doug Lamb, a cerified financial planner in Toronto.

And without sitting down and working through the issues, things like who owns the family home and who gets what in the will cann become a minefield of problems.

Full text: Second marriages add complexity to financial planning

Help clients calculate when to open an RESP, where to find funds to contribute and how to get government grants

Investment Executive, by Wendy Cuthbert
June 2006

With tuition fees on the rise at most post-secondary institutions across Canada, some parents are looking for advice on saving for their children's educations — before their childern are even born.

Full text: Higher tuition costs demand tough strategies

Pools say they account for more than half of all RESPs — despite complaints over marketing, fees

Investment Executive, by Wendy Cuthbert
June 2006

With a history of 40-plus years for pooled scholarship RESPs, it's no surprise that financial advisors hear a lot about them. In fact, statistics provided by the Canadian Scholarship Trust Foundation to the RESP Dealers Association of Canada show group plans account for slightly more than half of all RESPs in Canada.

Full text: Group education plans come under fire