OPINION 51 Reflect on the future with 2018 New Year's resolutions Review your financial planning goals and how) they affect your loved ones, says Peter Watson Making New Year's res olutions can be a learning experience for us all. It provides an opportunity to reflect on our future and our priorities. My theme this year is governance. How do we manage our financial planning goals? And how do our actions affect those we love? Consider all aspects of your financial life and look at the potential impli cations for others. For example, many families take advantage of the Registered Education Savings Program (RESP) to save for their children's post-secondary education. That is a good financial strategy because there are government grants avail able, as well as favorable tax implications. From a governance perspective, consider ex panding the use of an RESP from a savings strat egy to a learning experi- PETER WATSON Column ence for your children. Every year, when your child is ready, explain to him or her that continued education is expensive and therefore establishing a regular savings program is beneficial. Learning the impor tance of saving is a valu able lesson for your chil dren. It is also an opportu nity to convey your fami ly's values toward a continued education. Another example is es tate planning. Your ac tions, or lack of them, will have an impact on your loved ones, especially when it comes to having a will, a power of attorney for property, and a power of attorney for health. When a person dies in testate, without a will, the provincial government gets to decide how the de ceased's assets are distrib uted. That can cause addi tional pressure on family and friends. It is an act of kindness to them to have your affairs in order. The same kindness can apply to having both pow ers of attorney. The one for property covers financial matters while the second power of attorney addresses health issues. Understanding the best ways to organize your financial planning gover nance starts with consid ering what and who are most important to you. That will vary depend ing on your values, and might change during your lifetime. Everything we do in life has implications. And that is particularly true with financial decisions, or lack thereof. As we head into 2018 take some time to review your financial planning goals and how they affect your loved ones. - Peter Watson, o f Peter Watson Investments. MBA, CFP®, R.F.P., CIM, FCSI offers a weekly f i nancial advice column, Dollars & Sense. He can be contacted through www.peterwatsoninvest- ments.com. 0 0 IX 3 o & Q> Q> (0 <0 Q>5: b q jC K S IKidZ we learn, we build, we play with I f G O ' B ricks MARCH BREAK CAMP The u ltim ate LEGO® Experience! O utdoor p lay included: Oakville: Faith Baptist Church Burlington: Tansley United Church Milton: St. Paul's United Church / M otorized Model Themes / M inecraft Theme / And many more!!! Visit our website for more details. Find out about our fun Birthday Parties and Field Trips E C L IP S E S H U T T E R S Oakville/Mississauga/Milton/Burlington Rona Amaral ramaral@bricks4kidz.com • www.bricks4kidz.com/missoak 416-473-2043 CALL TODAY! WINDOW COVERINGS H (Desumer's Pouch C U S T O M W I N D O W C O V E R I N G S 25-year warranty! Energy Efficient Easy to clean Oakville 905-847-7508 Need a Professional Mover? High Energy S < |V Transport Inc. done 'Ugkfr www.highenergytransport.com 416-684-2419 Voted BEST MOVER in Oakville. Call to get 8 FREE QUOTE. Z)17 Get Results in 2018 WE GET RESULTS... PERIOD! P R IM A L A A T H L E T K S EVOLUTION OF FITNESS 647-896-3294 461 North Service Rd. W., Ut B36 www.primalathletics.ca DIAMOND AWARD FOR BEST IN FITNESS 20178SS readerschoice Dakvillebeave .com LASHES 292 Lakeshore Road East, Oakville Located on the 2nd floor, above Art Lee Menswear www.bxdlashes.com I 647-588-LASH Thinking o f selling? SuC asa^ Home Staging & ReDesign J www.sucasahomestaging.com 905-599-8348 Voted BEST HOME STAGER in Oakville! Oakville Beaver All Styles, Technique & Theory Daytime & Evening Times Available G IV E TH E G IF T OF MUSIC Refer a Friend, Get One Month FREE! 1312 Speers Rd, Oakville (905)334-5092 www.mglessons.com i STEPHEN MACNEIL A LL LEV ELS HONS.B.A. Private and Music 20 Years Beginners - Advanced j Teaching in Oakville 3245 Harvester Rd, Burlington 905-333-6705 Diamond Award Winner Visit their showroom to shop for Windows & Doors. | O akville Beaver | Thursday, January 11,2018 insidehalton.com http://www.peterwatsoninvest-ments.com http://www.peterwatsoninvest-ments.com mailto:ramaral@bricks4kidz.com http://www.bricks4kidz.com/missoak http://www.highenergytransport.com http://www.primalathletics.ca http://www.bxdlashes.com http://www.sucasahomestaging.com http://www.mglessons.com Reflect on the future with 2018 New Year's resolutions PETER WATSON 0 Q> Q> (0 <0 Q> MARCH BREAK CAMP 416-473-2043 CALL TODAY! WINDOW COVERINGS 905-847-7508 Need a Professional Mover? High Energy S<|V Transport Inc. PERIOD! www.primalathletics.ca Thinking selling? SuCasa^ 905-599-8348 i STEPHEN MACNEIL ALL LEVELS HONS.B.A.