My dad is a smart egg. A very smart egg.
When I was 15 he very smartly gave me one of the best gifts I have ever received in my life.
He started an RRSP for me.
Amidst the eye rolls and heavy sighs, he would love to talk about RRSP’s. For him, its like watching the Weather Channel or calling over to our relatives in Scotland, it gives him great joy. He is proud of what he has saved over time (& so he should be) after growing up in a time where there was hardly any money around to have for the future.
I was a total teenager when he told me he had set this up.
I didn’t realize the impact what he was doing for me would have an on my life. I didn’t realize that his conversations about RRSP’s would leave such a mark with me. All the discussions around contributing would be a reminder every year to do something. His starting the contributions then helps provide me some breathing space now. The topic that used to make my eyes get glossy and my attitude full of “OK I GOT IT DAD!!!”. Now I realize, I don’t “got it” and its something crucial to start tuning into for the future.
We are graced with two little ones. Children that will rely on us to help set THEM up as they grow up. To help get them to university and to be prepared for what comes next. I find it hard to be responsible for someone else when I barely feel responsible enough for myself.
You gotta admit..when they were this small you had no idea what was to come.
Our Challenge:
We don’t have a hot clue in hell what we actually NEED to be prepared for the FUTURE.
Do you?
I feel like as much as I know its important to be ready, we’re not. Our financial literacy is reasonable but not high. Our goals in terms of a retirement age hanging out over in left field because we simply have no idea when that will be or when it should be.
Here’s where we are at now:
- We know its the right thing to do to put aside RRSP’s. So we do, but we have no idea what the right amount of contributions should go in every year.
- We set-up RESP’s as soon as we got SIN numbers for the kids with payments that kick-in the government match program. We sincerely hope we will be on track. Those expected university costs in the future give me heart palpitations every time I read them.
- We are not sure if our child with Autism will have the capacity to have a career or job so we have started an RDSP for him to protect him. The challenge is that its there for him when he is 60. I can’t help shaking my head that if one can’t get gainful employment as an adult, waiting till 60 won’t be the issue. But I digress.
We are feeling somewhat good about it all but not good enough.
When @Manulife’s #ManulifeReady program came about, at first I was taken aback by the series of commercials they were airing. They had an ominous feeling to THE RIDE, THE MEETING, THE CALL. Everyone I talked to felt uncomfortable with how serious or depressing they were.
But I get it.
Things can change at the drop of a hat. You just DON’T know.
@Manulife is asking you to consider those when you think about planning. About opening doors and which ones are important for you?
For us, we look forward to A RIDE (maybe at Disney?), A MEETING (that will lead to weddings in the future) or A CALL (…cause seeing the FINAL FOUR live is SOOO on our list).
Manulife is doing 2 cool events for this program.
The first:
A CHANCE TO WIN $2500 by simply posting a photo of a door that means something to you.
To join the conversation:
- Post a photo on Facebook, Twitter or Instagram of a physical door in your past, present and/or future and tell Manulife why it’s important for you.
- Use the hashtag #ManulifeReady
- Post away.
The Second:
I am pumped to be hosting the #ManulifeReady Twitter Party at 9PM EST on Tuesday, March 24th with @Shasherslife @Manulife because I AM SERIOUSLY looking forward to better getting a grasp on what we need to do to be financially ready. And although I’m not eligible YOU ARE..& could win CASH PRIZES (Over $3000!!) to help get you going.
Are You Ready?
