Planning on earning a fortune in the real estate market? Read this first.
You’ve found true love in your 60s. It might be a dream come true, but there’s far more to consider than just companionship. BBC Capital interviewed Julia Chung from Spring Financial Planning for her tips on starting successfully.
If your residency is changing, it may affect how you’re taxed. Canada, for instance, has many residents that spend half the year in warmer parts of the U.S. “One of the issues there is when you’re considered a resident of most countries in the world, you have to file taxes there,” said Julia Chung. “We have a lot of Canadian residents who are just finding out that they’re supposed to file a tax return with the U.S. every year.”
If you’re in a cash flow bind, you don’t want to wait too long before you take action. But you should take some time to calculate the size of the problem. “A lot of times people don’t really look at their expenses,” said Julia Chung, a financial and estate planner with Spring Financial Planning in British Columbia in Canada. “They have a hard time managing the numbers.”
“Find experts in the fields that your child is interested in,” said Julia Chung of Spring Financial Planning. “Talk to them and ask them for help and support. You’d be surprised how many people are willing to help.”
You’ve heard that money is the cause of many arguments between partners. But can a spender marry a saver and live happily ever after? BBC Capital interviewed Julia Chung of Spring Financial Planning to find out.