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.
Two kids in university at the same time means double the costs. The secret to saving for – and affording – two.
Sending your children to private school can mean making some big sacrifices.
Imagine being asked to do your job in an exotic city in a far flung country… Julia gives BBC Capital her planning tips.
Jim Hunt and his wife always knew they wanted to have a large family — his wife is one of five brothers and sisters, and today they have five children themselves, ranging in age from four to 10 years old. In retrospect he and his wife — a lawyer and a...