Amy Dong & Associate,
Certified General Accountants

 1.     Developing your financial plan 

§         Covering saving for your retirement

§         Financing your children education

§         Buying a house within the financial reach

§         Be realistic and clarify your objectives 

Define your financial goals( developing a clearly defined set of God-given goals)

 Track your net worth

Ø      Track your net worth and cash flow, and set an annual growth target

                          where your are  ---------- Where you want to go           

           Cash management and budgeting – the cornerstone of financial planning

 §        Control your saving as well as expense with a personal and family budget

§        Considering this information and any non-recurring expense

§        Without making the lifestyle changes, there is little you can do

§        Save systematically by “ paying yourself first” Developing an appropriate investment strategy

2. Some common financial goals

 Planning for your children’s education 

§        Contributing RESP and earn 20% gov’t grant

§        Alternative to RESP, invest in a tax efficient growth mutual fund in your child’s name

§        Considering depositing Child tax benefit payments in your children‘s name ; Encouraging your child to invest

Buying a home.

A home can be a reliable hedge against inflation, a great retirement saving vehicle and a tax shelter

3. Preserving your family's financial security

 Line of credit or emergency fund

Enough insurance

Is your will up –to date?

Do you have a power of attorney

4. Selecting your professional advisors (Lawyer, tax advisor, insurance broker, investment counselor or personal financial advisor)

Shop around your financial and investment advisor

§         client reference

§         Professional educational background

§         Resourceful

§         Be cautious with “selling stuff”

§         Understand fee arrangements