Karen, Sam and Chloe: Retirement Resource Centre Case Study

About one in 27 Canadian children under the age of 15 has a disability—and, not surprisingly, the more severe the disability, the more impact it has on the parents’ health and satisfaction with life.¹ But how about their finances? There are, of course, immediate extra costs, sometimes subsidized, for treatment, therapy and equipment. And long term? Parents of a child with a serious disability must save for their own retirement and build a legacy that will provide ongoing support to their child for life.

This case study introduces you to Karen and Sam, the devoted parents of a 21-year-old daughter, Chloe, who has a severe form of cerebral palsy. They’re business owners, running a hardware store in suburban Saskatoon that they took over from Karen’s father in 1978, so they’re savvy about finances. But they haven’t taken many steps towards personal financial planning. The good news: sound advice now can help them improve their own long-term financial picture and ensure Chloe has income for life.

Advisor analysis

Mark Halpern, CFP, TEP President illnessPROTECTION.com Inc.

The first question I would ask Karen and Sam is, “Do you have a will?” With a will, they can name a guardian……Click to read more from Mark

Bernie Clermont Regional Financial Planning Consultant RBC Financial Planning

Business owners often wait far too long to start retirement and succession planning. Karen and Sam……Click to read more from Bernie

Warren MacKenzie, CA, CFP, CHFS Founder Weigh House Investor Services

Karen and Sam have two major objectives: to maintain their current standard of……Click to read more from Warren

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