Facebook Twitter Gplus LinkedIn YouTube
416.230.2703 | 705.798.0062
tim@timweichel.ca
magnify
Home Financial Health Blog Archive for category "Gearing up for retirement" (Page 5)

Gearing up for retirement

You’re in your peak earning years. You have five, ten, or fifteen years to go. Make the most of them by taking advantage of effective tools to maximize your nest egg, slash debt and ensure the retirement income you need.

How spousal RRSPs can minimize your taxes

Spousal Registered Retirement Savings Plans are an important tax-planning tool. An RRSP is designated as spousal when one spouse contributes to a plan in the other spouse’s name. Spousal RRSPs will appeal to couples where one spouse earns a higher income than the other spouse, and is therefore in a higher tax rate bracket. ByRead More…

 

How much (and which) insurance do you need?

As you age and your circumstances change, your need for different types and amounts of insurance changes. For example, over time the need for life insurance might decrease, while the need for critical illness insurance might increase. Use this simple, confidential calculator to complete an analysis of your life, disability and critical illness insurance needs.Read More…

 

How asset mix affects volatility

Depending on your investment objectives, you’ll want to have the right mix of stocks, bonds and cash. This helps balance your risk among different the different types of investments, and within each, you should also diversify to avoid exposure to unnecessary risks. All investments involve risk, investors must manage the balance between risk and potentialRead More…

 

One simple step you take today can mean years of stress-free retirement

This three-minute video introduces the simplest way to prepare for the realities of retirement, protect your income and ensure money for life. Discover the three types of expenses you’ll need to cover to wake up without stress during your retirement. Find out how you can take advantage of your last 5 to 10 working yearsRead More…

 

Answer these seven questions BEFORE you retire

Guess what new retirees say their biggest surprise is when they finally leave work? “Seven days of fishing or golf just isn’t as much fun as they thought it would be,” according to Eileen Chadnick, a certified life coach. She spoke about the value of a retirement plan that takes more than financial questions intoRead More…

 

How to prepare for elder care and the five stages of aging

These days, everyone has a story about caring for an elderly family member. From waiting with Dad at the doctor’s office, to staying overnight to administer Mom’s medication, to visiting your spouse at the long-term care home, the spectrum of care is broad. Elder care is posing mounting pressure on family caregivers, who are contributingRead More…

 

Plan for your health care needs tomorrow, today

Did you know that it’s Alzheimer awareness month in Canada? Not many of us want to think about it, much less talk about it, but the reality is that if we live long enough, there’s a good chance we’ll eventually need long term care. What is long term care? It’s the help you need whenRead More…

 

Myths and truths about critical illness

The risk of suffering from a critical illness is real, and most people don’t even see it coming. When it does, many Canadians are forced to deplete their retirement savings or take on additional debt to cover treatment costs and the day-to-day expenses associated with living with a critical illness. When you’re healthy, you mayRead More…