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Delaying OAS Payments: Good Idea for your Retirement?

Many people have questions and concerns about how delaying OAS payments will affect their retirement income. Not only will Canadians have to wait longer to receive Old Age Security (OAS) payments, but another change to the rules means that people who opt to start receiving payments later will receive a higher amount each month. Does […]

9 Questions to Think About when Planning your Retirement

If you’re like most people, you probably don’t have the time to assess your future retirement needs. However, with increasing life expectancies and concerns over the stability of our health care system and government/private pension plans, planning your retirement is a must.

3 Reasons you Should Add your Pet to your Will

Do you know who will take care of your pet if you should pass away? Most people assume that a family member will step in and take care of their companion animal. The reality is that many animals end up being taken to shelters after their owners die. Many times, the pets end up not […]

How to be Financially Wise After Losing a Spouse

Losing a spouse is considered the most stressful life event that someone can experience. You are grieving the loss of your partner and you must also come to terms with the fact that your life will never be the same again. At the same time, will need to make decisions for yourself and any minor […]

If there is No Mandatory Retirement, Why Stop Working?

The idea of retirement (stopping work at a certain age) is one that has only existed for a relatively short time. In 1927, the Old Age Pensions Act came into effect, and it granted a pension of $20.00 per month ($240.00) per year to British subjects who had lived in Canada for at least 20 […]

Grey Divorce Means Good Financial Planning a Must

Canadian divorce rates for most age groups are on the decline with the exception of Baby Boomers (people born between 1946-1964). People over the age of 50 are calling it quits at a higher rate than younger people, leading to a trend which is being called “grey divorce”. While the reasons for ending the marriage […]

You Can Retire on Less Money (and Make it Work for You)

Saving for financial goals, including retirement, is a challenge for most people these days. Retirement is often left on the back burner until later in life when it may be too late to save the full amount you think you need. Rather than putting off your retirement or continuing to work, consider downsizing your lifestyle […]

5 Stages of Long Term Care You Need to Plan for in Retirement

When you think about retirement, how do you picture spending your days? It’s only natural to focus on taking time to rest after many years of hard work. If you are currently in good health, it can be difficult to picture the situation changing. In some cases, the changes to your health will be relatively […]

Planning for the Worst: Financially Surviving Life-threatening Illness

You’ve been busy planning for retirement, and you’re thinking that 65 seems doable but 60 would be even better. The house is paid off, the kids have finally moved out, and mom and dad are happily cared for in a retirement home. Retirement is looking good.

Should you Give your Kids Their Inheritance While you are Still Alive?

An inheritance is traditionally a gift transferred to a child or grandchild after a person died. You don’t necessarily have to wait until you have passed to share some of your estate with your loved ones, however. Even if you ultimately decide not to give your kids their inheritance while you are still alive, it’s […]