This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Navigating The Complexities Of Modern Families And Finances

TD advises the financial formula can be as simple as finding common goals and ground

TORONTO, March 7, 2014 /CNW/ - The portrait of the Canadian family continues to evolve, bringing with it potentially new complexities when it comes to managing money and finances. While married couples still make up two-thirds of all families in Canada, other family arrangements - notably common-law couples and lone-parent families - are gaining ground. As a recent survey for TD found, one in five Canadians who are separated, divorced, living common-law, remarried or widowed have either started over with a new partner or are thinking of doing so. And the most recent Canadian Census (2006) found that one in 10 children in Canada live in stepfamilies, about 40 per cent of which involve blended families. For Canadians who are considering starting over with a new partner, more than half (54 per cent) said they place a high priority on making decisions about blending their finances.

"Most people entering into a new relationship already have an established financial routine which will need to be aligned with their new partner," said Cynthia Caskey, Vice President and Portfolio Manager, TD Wealth Private Investment Advice. "Of course, opening up about finances is not an easy task, especially at the start of a new relationship, but it is essential that couples have honest conversations in order to build a solid financial future for their combined families."

According to the TD survey, for those couples who consider blending their finances a priority, the top issues to be resolved are organizing their daily finances, cited by 71 per cent of respondents, followed by finding savings and budget efficiencies (60 per cent). Nearly two in five cited opening a joint bank account as a priority, but only a third (32 per cent) said maximizing their investment opportunities as a couple was a top concern.

1 of 3

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 17,001.22 -38.27 -0.22%
S&P 500 1,988.40 -3.97 -0.20%
NASDAQ 4,538.5510 +6.4470 0.14%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs