Should a divorced mother with little savings prioritize RRSPs over other savings strategies?
Financial Post ·
FP Answers: There's a textbook answer and then there's the way people most commonly invest
Q. I am a recently divorced 48-year-old woman with one son, aged 10. I earn $145,000 annually and was given the house — my principal residence — in the divorce settlement, which is a fully paid off three-bedroom townhouse in Montreal. My ex-husband also pays $550 monthly in child support that ends when my son reaches age 18. I have no other savings or investments except for a $20,000 emergency fund. I can likely save $3,000 monthly after all expenses and was wondering how I should save and invest this money. Retirement savings and education savings for my son are key priorities for me. —Stefania B. in Montreal Read More