While the ideal situation would be for all Canadians to be able to retire debt-free, a CIBC poll conducted in July 2012 found that nearly 60 percent of retired Canadians have some debt. Retired Canadians may hold less debt than people who are still in the workforce, but the more debt that you carry in […]
At one point, we stopped working at age 65 and lived out our few remaining years in leisure (if we were one of the lucky ones who lived past 65). If you are 65 or older today, living to age 80 is not unrealistic. Have you given much thought to how you plan to spending […]
For the most part, women look forward to retirement as a complete lifestyle change. We may picture spending more of our time babysitting the grandkids or volunteering for organizations we care deeply about. Some of us may decide to take up a completely different type of employment or start our own business.
Are you about to make the move from employee to retiree, which means going from a guaranteed salary to drawing down your savings and living off of pension income? If so, be prepared, as this tends to be a jarring time for most people. No longer will you be focused on accumulating your wealth but […]
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 […]
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.
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 […]
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 […]
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 […]