After Wedding Plans
When you plan a wedding you put a lot of time and effort into it but leading up to the big day you may not have given much thought to you your finances. Once the wedding is done your planning and budgeting shouldn’t end there. You will now need to focus on the future financial health of your relationship.
After a lot of money has been spent on the wedding it may be difficult to start thinking about saving but there are a few things that you should consider.
- Who is listed as beneficiary on any existing life insurance policies. Do you have enough coverage?
- Do you have a group benefit plan at either of your workplaces? Are you both covered? If you both have a plan you may consider coordination of benefits to get the most out of both plans.
- Create a joint financial plan to help you reach your goals
- Consider taking advantage of a spousal RRSP Plan Remember it is never too early to start planning for your future. It is time to Invest.
About the Author
Neil Lecky is a Life Insurance Advisor, Group Employee Benefit Specialist and an Investment Funds Advisor with Alliance Financial Group. He is also a Branch Manager and Investment Funds Advisor with Investia Financial Services Inc., a mutual fund dealer.