Podcast
Questions and Answers
What is the vesting period of the stock option award that Rick received?
What is the vesting period of the stock option award that Rick received?
Which financial contribution is Rick making to his retirement savings plan?
Which financial contribution is Rick making to his retirement savings plan?
What is Rick's primary concern regarding his financial situation?
What is Rick's primary concern regarding his financial situation?
What action did Rick take concerning his job at Mining Co.?
What action did Rick take concerning his job at Mining Co.?
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How old is Rick's daughter, Sophie?
How old is Rick's daughter, Sophie?
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Study Notes
Rick's Financial Situation
- Rick started working for Mining Co. last December.
- He received a stock option award last month, vesting over one year.
- Rick is a member of Mining Co.'s DPSP with the maximum vesting period.
- He contributes the maximum to the group RRSP monthly.
- Rick accepted a new position elsewhere and submitted his resignation.
- Rick wants to review his changing financial situation and start an education savings plan for his daughter, Sophie (age 17).
- Currently, there are no savings for Sophie.
Relevant Information for Financial Plan
- Stock option award details (amount, vesting schedule) are important.
- Mining Co.'s DPSP specifics (rules, vesting schedule).
- Amount of Rick's current monthly RRSP contributions is crucial.
- Rick's new employment terms and salary information.
- Desired education savings plan for Sophie are needed.
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Description
Explore Rick's financial situation as he navigates new job opportunities and aims to create an education savings plan for his daughter, Sophie. This quiz covers important aspects like stock options, DPSP rules, and RRSP contributions. Understand how Rick can effectively manage his finances during this transition.
