{"id":164,"date":"2023-08-09T16:50:15","date_gmt":"2023-08-09T20:50:15","guid":{"rendered":"https:\/\/pressbooks.bccampus.ca\/financialfreedomfortrades\/?post_type=part&#038;p=164"},"modified":"2024-07-01T18:25:05","modified_gmt":"2024-07-01T22:25:05","slug":"vii-saving-for-the-future","status":"publish","type":"part","link":"https:\/\/pressbooks.bccampus.ca\/financialfreedomfortrades\/part\/vii-saving-for-the-future\/","title":{"raw":"Saving for the Future","rendered":"Saving for the Future"},"content":{"raw":"<div class=\"textbox textbox--learning-objectives\"><header class=\"textbox__header\">\r\n<p class=\"textbox__title\">Learning Objectives<\/p>\r\n\r\n<\/header>\r\n<div class=\"textbox__content\">\r\n\r\nAfter studying this section, students should be able to:\r\n<ul>\r\n \t<li>Understand the concept of inflation and the effect to cash savings<\/li>\r\n \t<li>Recognize the time value of money in growing net worth<\/li>\r\n \t<li>List common source areas (pillars) of retirement income in Canada<\/li>\r\n \t<li>Describe how government administered programs Canada Pension Plan (CPP), Old Age Security (OAS), and Guaranteed Income Supplement (GIS) work<\/li>\r\n \t<li>Outline differences between defined contribution and defined benefit pension plans<\/li>\r\n \t<li>Analyze and evaluate estimated tax rates of other sources of income in Canadian taxable accounts<\/li>\r\n \t<li>Understand the timing of when tax benefit is taken and tax is paid for various specific tax-advantaged accounts<\/li>\r\n<\/ul>\r\n<\/div>\r\n<\/div>\r\n&nbsp;","rendered":"<div class=\"textbox textbox--learning-objectives\">\n<header class=\"textbox__header\">\n<p class=\"textbox__title\">Learning Objectives<\/p>\n<\/header>\n<div class=\"textbox__content\">\n<p>After studying this section, students should be able to:<\/p>\n<ul>\n<li>Understand the concept of inflation and the effect to cash savings<\/li>\n<li>Recognize the time value of money in growing net worth<\/li>\n<li>List common source areas (pillars) of retirement income in Canada<\/li>\n<li>Describe how government administered programs Canada Pension Plan (CPP), Old Age Security (OAS), and Guaranteed Income Supplement (GIS) work<\/li>\n<li>Outline differences between defined contribution and defined benefit pension plans<\/li>\n<li>Analyze and evaluate estimated tax rates of other sources of income in Canadian taxable accounts<\/li>\n<li>Understand the timing of when tax benefit is taken and tax is paid for various specific tax-advantaged accounts<\/li>\n<\/ul>\n<\/div>\n<\/div>\n<p>&nbsp;<\/p>\n","protected":false},"parent":0,"menu_order":7,"template":"","meta":{"pb_part_invisible":false,"pb_part_invisible_string":""},"contributor":[],"license":[],"class_list":["post-164","part","type-part","status-publish","hentry"],"_links":{"self":[{"href":"https:\/\/pressbooks.bccampus.ca\/financialfreedomfortrades\/wp-json\/pressbooks\/v2\/parts\/164","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/pressbooks.bccampus.ca\/financialfreedomfortrades\/wp-json\/pressbooks\/v2\/parts"}],"about":[{"href":"https:\/\/pressbooks.bccampus.ca\/financialfreedomfortrades\/wp-json\/wp\/v2\/types\/part"}],"version-history":[{"count":3,"href":"https:\/\/pressbooks.bccampus.ca\/financialfreedomfortrades\/wp-json\/pressbooks\/v2\/parts\/164\/revisions"}],"predecessor-version":[{"id":547,"href":"https:\/\/pressbooks.bccampus.ca\/financialfreedomfortrades\/wp-json\/pressbooks\/v2\/parts\/164\/revisions\/547"}],"wp:attachment":[{"href":"https:\/\/pressbooks.bccampus.ca\/financialfreedomfortrades\/wp-json\/wp\/v2\/media?parent=164"}],"wp:term":[{"taxonomy":"contributor","embeddable":true,"href":"https:\/\/pressbooks.bccampus.ca\/financialfreedomfortrades\/wp-json\/wp\/v2\/contributor?post=164"},{"taxonomy":"license","embeddable":true,"href":"https:\/\/pressbooks.bccampus.ca\/financialfreedomfortrades\/wp-json\/wp\/v2\/license?post=164"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}