A while back I wrote about how target date funds could be a smart solution for your RESP. Turns out a new robo-advisor called Justwealth had the same idea and is now offering custom Education Target Date Portfolios:

“a unique investment solution that transforms itself automatically over time, eventually “maturing” in the exact year that your child will begin post-secondary education.”

Justwealth’s co-founder James Gauthier oversaw RBC’s target date funds and no doubt saw this as an opportunity to stand out in the increasingly crowded space of automated online investing.

The target date portfolios at Justwealth are interesting because you can match it to the year you expect your child to enter post-secondary, as opposed to RBC’s target date funds, which only offer a broad five-year range (i.e. Target date fund 2025, or Target date fund 2030).

With a focus on 30-something parents and RESPs, Justwealth published a great primer and guide to RESPs that’s worth checking out.

This Week’s Recap:

Thanks to Rob Carrick for including my article on how to get a better deal just by asking in his Carrick on Money newsletter this week. And thanks to all of the personal finance bloggers who contributed to that post by sharing their best and most memorable deals.

On Monday I pondered whether robo-advisors could come up with an automated solution to generating retirement income.

On Wednesday Marie reminded readers to manage their medium-term financial goals.

And on Friday Marie continued her retirement series with a look at which option is better in retirement – an annuity or RRIF?

Over on the Lowest Rates blog I compared term life insurance vs. permanent life insurance.

Weekend Reading:

A fascinating story in Maclean’s about why being a grandparent is more complicated than ever.

Fred Vettese argues that CPP should be expanded, but probably not for the reasons you think.

A former Halifax firefighter is warning retirees about the dangers of DIY investing after his decision to leave the city pension plan left him in financial ruin.

Millionnaire Teacher Andrew Hallam writes about retirement fortunes that you can’t control:

“What would have happened if they had retired just before stocks tanked? I looked at the S&P 500 over the past 25 years. Two retirement dates would have made investors tremble: March 31, 2000 and September 30, 2007.”

Speaking of Andrew Hallam, the Personal Finance Canada group on reddit hosted an ‘Ask me Anything’ with the global expatriot – check out the Q and A here.

Confessions of a committed Gen Y renter: “It’s exactly what I want.”

“My whole financial plan is built around staying in this job,” – a 38-year-old Victoria woman who works in the public sector and has a defined benefit pension plan.

Des Odjick from the Half Banked blog weighs in on how much you need to save for a house downpayment.

Alyssa from Mixed Up Money has a pet peeve. Want to make her cry? Waste a little more food.

We know you’d have to be crazy to buy a house today in Vancouver or Toronto. Now the Bank of Canada Governor Stephen Poloz is warning that Vancouver and Toronto are at risk for a housing correction.

“Economic “fundamentals” don’t justify a continuation of recent price gains in these two cities.”

An inflated Canadian housing market doesn’t just put homeowners at risk. Investors and taxpayers are also at risk.

Anti-poverty groups are calling for national regulations to protect consumers from predatory payday loans on the heels of a recent clampdown by the U.S. government on payday lenders.

Watch Last Week Tonight host John Oliver buy up $15 million in medical debt for $60,000 and then forgive it in the biggest giveaway in television history:

My Own Advisor blogger Mark Seed is featured in this Winnipeg Free Press story about investing in REITs – Be a landlord, without the headaches.

Michael James has some ideas for the U.S. to finally get rid of the penny.

Finally, budget travel expert Barry Choi offers some great tips on setting a budget for your trip.

Have a great weekend, everyone!


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