Prepare for the golden years with a trust fund, incorporate or how

Discussion in 'Economics' started by birdman, Nov 27, 2008.

  1. birdman


    Let's say you are mid 50's and have seen more than a few of your friends fortunes get spent on medical bills when they get old (including nursing homes).

    How do you safeguard aganist it ...
    [A] incorporate
    trust fund
    [C] move things to your kids name and pray they don't lose half in divorce
    [D] no worries, forget about it

    Peace :)
  2. birdman


    Well, i had in mind something more along the lines of [A] [C] or [D] but thanks for your suggestion

  3. well im only 22 and i'll probably get made fun of but whatever.
    i am incorporated more for tax reasons now then for the future but i can do RRSPs through the corporate account and most likely will go that route, also in canada they have a non taxable (no capital gains tax) on a "savings account" except you can do anything in the account: stocks bonds mutual funds etc. im going to maximize that every year, its like an rrsp except you dont get whacked when you take it out at the end. only catch is its only 5k/yr but whatever 30 years from now 5000X30 = 150k+ gains which is a decent nest egg.
  4. oh so and so i suppose i would go with a) incorporate. final answer
  5. kxvid


    Physical gold bullion buried in your back yard obviously.