Retirement Spending

Why we are budgeting for retiree medical costs

Why we are budgeting for retiree medical costs

In a Globe and Mail article last year Anna Sharrat reported that according to a 2014 BMO Wealth Institute Report, without private coverage, Canadians can expect to spend an average of $5,391 a year on out-of-pocket medical costs after 65. And these numbers will rise. My husband and I have excellent retiree health benefits that were part of the retirement package from my former corporate employer. ... »

Seniors’ Election Agenda

Seniors’ Election Agenda

Sign that encourages voters to vote strategically is set up on Campeau drive in Kanata . James Park / Ottawa Citizen   I’ve been off the grid for several weeks due to a vacation and a family tragedy, But even in Europe we downloaded the replica versions of the Globe and Mail and the Toronto Star and closely followed election polls. In fact we voted in the advance polls because walking t... »

Guest Post: Redefining Retirement

Guest Post: Redefining Retirement

Susan Hodkinson, BA Crowe Soberman LLP   In generations past, retirement was a definable event in someone’s life – a milestone, fixed in time. There would be a presentation at the office, a family celebration and some joyfully-arranged tee times for the following week. “Work” was a thing of the past. While this scenario may still play out in some households, for many b... »

More random thoughts on retirement…

More random thoughts on retirement…

After an exhausting and exhilarating weekend in which my kids, my sister and my husband’s sister made us a spectacular party to celebrate my 65th birthday and my husband’s retirement (both in June) and Joel’s 65th birthday this week, here are a few more random thoughts on retirement…. Timing: Although 43% of retirees who responded to the 2015 RBC Retirement Myths and Realit... »

Book Review: Wealthing Like Rabbits

Book Review: Wealthing Like Rabbits

I don’t often review personal finance books because it seems to take an inordinate amount of time to wade through yet another statement of the obvious just to glean enough cogent information to give readers a taste of what the book is all about. But when I read accolades from the likes of Gail Vaz-Oxlade, Preet Bannerjee, Roma Luciw, Dan Bortolotti plus a whole bunch of my other favourite personal... »

Will Alberta NDP support an expanded CPP?

Will Alberta NDP support an expanded CPP?

In all of the media coverage of the stunning NDP win in Alberta this week, the one item that raised more questions than answers in my mind was a press release from CARP titled “Alberta Election Results make CPP increase more likely.” A new Nanos survey conducted for The Globe and Mail reveals Canadians still overwhelming support an expanded CPP which is strongly opposed by Prime Minister Stephen H... »

Media scan: Week of March 23rd

Media scan: Week of March 23rd

This week I posted on Retirement Redux How the medical tax deduction can save you money and Anti-Fraud month: Seniors scams to watch out for. How hiring a professional organizer can save you money appeared on savewithspp.com and Here’s some clarity on workplace benefits was featured on Brighter Life. Here are some of the interesting blogs and articles I read. Blogger and pension analyst Sean Coope... »

Media scan: Week of March 16th

Media scan: Week of March 16th

This week I wrote 8 things I learned on my vacation and How to reform retirement savings for retirementredux.com. Is your company car a free ride? was posted on BrighterLife.ca and What is a prescribed RRIF? appeared on savewithspp.com.  Here are some of the interesting blogs and articles I read: On RetireHappy, government benefits guru Doug Runchey wrote Understanding the OAS clawback. Runchey sa... »

How to reform retirement savings

How to reform retirement savings

RRSP season may be over again for another year, but the ongoing debate about how we can modify the retirement savings system so Canadians have more money to spend in retirement is heating up again, in anticipation of the federal budget which will likely be tabled within the next few months. Recently the Globe and Mail published a series of four editorials on how the alphabet soup of tax-assisted a... »

A Tale of Two Retirees

A Tale of Two Retirees

If you regularly read blogs like Canadian Dream: Free at 45, Early Retirement Extreme, Mr. Money Mustache or Freedom 35 you may think that everybody but you has managed to sock away enough money to retire very early and spend the rest of their life checking off items on their bucket list. But the recently released 2015 Canadian Unretirement Index Report tells a very different story. This year, for... »

Blockbuster Blogs: Week of March 2nd

Blockbuster Blogs: Week of March 2nd

When you read this I’ll be packing my bags to trade sand for snow again, but even after liberal applications of SPF 45, I hope my tan won’t fade for at least few days. This week I am linking to some blockbuster blogs. These are blogs that took on a life of their own as they were re-posted and referred to on weekly round ups of other bloggers. I’m pretty new at this game, but Why using my Aeroplan ... »

RRSP Recap: Week of February 23rd

RRSP Recap: Week of February 23rd

For the next few weeks I’m trading in -25 degrees for +25 degrees so I’m posting a couple of retrospective columns to keep you warm. The first is an RRSP recap to provide you with answers to any last minute questions as the season for silly surveys and mad last minute dashes to the bank draws to a close. Some of the retirement savings columns I wrote this year are How much of your savings can you ... »

Majority of retirees enjoy their lifestyle

Majority of retirees enjoy their lifestyle

Well it’s RRSP season which means it’s RRSP doom and gloom season. Every time I check my inbox there are press releases with headlines like New study reveals Canadians’ retirement perspectives and plans – Sixty percent of Canadians not ready to comfortably retire or Most Canadians will fall short on RRSP contributions this year: That’s why I was pleasantly surprised to see ... »

Why my financial planner is a great investment

Why my financial planner is a great investment

Rona Birenbaum: Caring For Clients My husband and I have been working and saving all of our lives. Our house is paid off and we have no debt. But like almost everyone looking ahead to retirement we didn’t really know how much money we need to retire comfortably. So we decided to consult independent, fee-for-service financial planner Rona Birenbaum at Caring for Clients. I have interviewed her for ... »

Media scan: Week of January 26th

Media scan: Week of January 26th

  This week I wrote Long term care options for seniors: How much will you pay?  and Is Long Term Care Insurance really worth It? on retirementredux.com. How to get the life insurance you need was posted on savewithspp.com. On Brighter Life two new Working It Out columns appeared: How your RRSP can help you buy a home and How much should you save for retirement? Here are some of the interestin... »

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