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 […]
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 […]
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 […]
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 […]
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.
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 […]
If your child has recently started college or university, he or she will be adjusting to a new independence. Part of this phase of life involves learning how to manage money on a daily and monthly basis. What do you think about college students and credit cards? How have you prepared your child for handling […]
If you think of this life insurance s something that only has value when you are young and working, you may need to take another look at this important financial product. You may find that you still need life insurance after you retire.
After a number of years in the workforce and dealing with deadlines, demands (and way too much office politics) you are more than ready for an infinite amount of rest and relaxation. You have marked the day on the calendar when you are finally free to enter the mysterious world of retirement and can […]
Holding financial assets in a joint tenancy is quite common, and in some circumstances it can make good sense. When bank accounts, real estate, mutual funds, bonds, and securities are owned by a couple, the title is passed to the survivor automatically if one of them dies. (Often, the only legal documentation which must be […]