How To Estimate and Plan Your Canadian Retirement Budget

ALL WE CAN CONTROL IN RETIREMENT ARE OUR SPENDING HABITS   We often over-estimate how much money we will need in our retirement years when we are healthy only because we have this bucket-list of things to do and want to make sure the money is available. The sad part is that not everyone will get to cross off places they want to visit or things they want to do because of the funds aren’t available, health decline or travel insurance is far too expensive. When my father-in-law passed away earlier this year my mother-in-law was left to pick up the pieces which in all honesty was a terrible mess. Shortly after she was deemed unable to care for many things on her own we had to step in and do her finances for her. This is how dementia starts to rob you of your independence, slowly even though we can look back and now see it has been happening for years. With no income coming in but a small Canada Pension Plan cheque which she managed to get early when she didn’t need it that’s really all the money she had coming in. Had she been in the right […]

Emergency Financial Assistance For Fixed Income Senior Parents : The Saturday Weekend Review #237

ONE OF THE HARDEST THINGS TO DO IS WATCH THE HEALTH AND WEALTH OF YOUR PARENTS DETERIORATE AS THEY AGE   One minute you can be fine with your money and the next you’re on the verge of disaster and in desperate need of financial assistance. Not everyone will admit to needing financial help because they are too proud but there comes a point where thinking about the best options is better than what something might cost down the road if other things start going wrong. It is not just the young folks who seek help with financial assistance, debt problems and health care. There are always seniors who keep themselves hidden away or placed in old-age retirement homes because they simply can’t do what they used on their own. That or they can’t afford it. Having senior parents who are living on a fixed income, small pensions and old-age security from government savings with no other savings apart from small work pensions can be heartbreaking. Although owning a house is good it may not yield enough to take care of them in retirement. I know many of you might say that it’s their problem for not saving money for […]

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