Yes we saved for our retirement put money into the RRSP, CCP and into mutual funds. We planned our insurance and put money into Insurance for life, universal and even put money into the critical life threatening insurance. We planned for our estate and also wrote our will. We planned for our mortgage, put money every month and we also put enough money into for the property tax and other sundries.

We planned for our life and post life.

What about our children ?. Yes we planned for their education by investing in RESP. Some of us even planned their retirement and their down payment for their mortgage by planning and investing in their RRSP even when they were 12 or 13.Some even have money invested for their first car downpayment .

Some of us will have our children ready for marriage in the next 10 to 12 years. Have planned for it ?. I know there are certain financial products available in India which will let you to invest in them for your children typically your daughters wedding.

Are there such financial products available in Canada ?. If not don't you think the Financial Institutions should plan products targetted towards Desi community like ours.

What are the typical costs involved in marriages in Canada ?. I do know it varies, hence how much for a typical middle class wedding. I knew a friend of mine who spent around 50K for his sons marriage. There was another where the cost would have been much higher for their daughter where the sarees were from South India, the gold and diamonds from Dubai. The marriage was a 7 day affair ending with the dinner(off course an open bar). The family even paid for their children to go for their honeymoon in Mauritius.

What is the typical situation in Canada, do the children pay and split the costs or families split the cost like Goras or the Father of the Bride pays for it ?.Is dowry involved in Canada ?.

Your take on it.

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Speech by Thomas Friedman of The New York Times....

"When we were young kids growing up in America, we were told to eat our
vegetables at dinner and not leave them. Mothers said, 'think of the
starving children in India and finish the dinner.' And now I tell my
children: 'Finish your maths homework. Think of the children in India
who would make you starve, if you don't.'"

my take..

I'd let my kids and spouses shoulder a good chunk of the expenses. It teaches them to earn their dream wedding. My parents/in-laws did me that favor(even though they contributed about 70-80% of the expenses). My younger brother did the same and now my youngest brother is doing the same. It did help that all of us found our partners long before the marriage. Our spouses worked towards the weddings too. We also did 90% of the organising work ourselves(our parents saw the reception area, for the first time, along with the guests on the wedding day) with friends. No dowry. I guess it was a first(along with marrying out of caste) with us being Malayalees.BTW: All this was in India.

I give this bg info because I doubt my Canadian kids will do any different. I expect them to do most of the work. I'll help in whatever way I can, but I am under no obligation for either my Daughter or my Son.

At the same time...I know my way is not the only way or the right way. If I was Mittal I probably would do as he did for his daughters wedding...but we'll cross that bridge when we come to it.

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Hi Shankara

You are now making my sleeplessnight even longer ........


Well...I think this is an interesting topic. I hope to have my home paid off when my kids are ready for university and may direct the savings out of home to some kind of non-registered investment..just thinking aloud

I am investing in one of the vehicles that you mentioned above in India...just in case

It all comes down to a simple thing...are we Canadians or Indian or a hybrid called Indo-canadians who are neither indians nor canadians?

I am sure that the finance experts have some good stuff to add..


T

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"The grass is not, in fact, always greener on the other side of the fence. Fences have nothing to do with it. The grass is greenest where it is watered. When crossing over fences, carry water with you and tend the grass wherever you may be"

Get them married in Vegas. 1500 $ for the package Flight,Hotel and Marriage license.

Don't invest too much money because God knows how long the marriage is going to last.

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You know you are a desi when ........ You spew forth the virtues of India, but don't want to live there...............You've never had a tanning salon membership

There is big population of Indians (mainly from AP) in USA those eat money in marriage. Cost of marriage is 1 crore. Some of them get 60 lakh cash from girl family. These guys feel proud to tell families and friend that what their worth in marriage market is. I am not sure how these people are surviving with their wife after killing self respect.

How many people are who/whose parent did not take any dowry? Don’t give stupid accuse that we did not ask but girls family gave us all.

Quote:

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Originally posted by shankaracharya

Yes we saved for our retirement put money into the RRSP, CCP and into mutual funds. We planned our insurance and put money into Insurance for life, universal and even put money into the critical life threatening insurance. We planned for our estate and also wrote our will. We planned for our mortgage, put money every month and we also put enough money into for the property tax and other sundries.

We planned for our life and post life.

What about our children ?. Yes we planned for their education by investing in RESP. Some of us even planned their retirement and their down payment for their mortgage by planning and investing in their RRSP even when they were 12 or 13.Some even have money invested for their first car downpayment .

Some of us will have our children ready for marriage in the next 10 to 12 years. Have planned for it ?. I know there are certain financial products available in India which will let you to invest in them for your children typically your daughters wedding.

Are there such financial products available in Canada ?. If not don't you think the Financial Institutions should plan products targetted towards Desi community like ours.

What are the typical costs involved in marriages in Canada ?. I do know it varies, hence how much for a typical middle class wedding. I knew a friend of mine who spent around 50K for his sons marriage. There was another where the cost would have been much higher for their daughter where the sarees were from South India, the gold and diamonds from Dubai. The marriage was a 7 day affair ending with the dinner(off course an open bar). The family even paid for their children to go for their honeymoon in Mauritius.

What is the typical situation in Canada, do the children pay and split the costs or families split the cost like Goras or the Father of the Bride pays for it ?.Is dowry involved in Canada ?.

Your take on it.

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