Facebook Twitter Gplus LinkedIn YouTube
416.230.2703 | 705.798.0062
tim@timweichel.ca
magnify
Home Financial Health Blog Archive for category "Retirement income strategies" (Page 3)

Retirement income strategies

Health insurance: Not covered by a company group plan?

Do you want the health benefit coverage the province doesn’t provide? If you are one of the millions of Canadians not fully covered by a group health plan, you are vulnerable to healthcare expenses not covered by your Government Health Insurance Plan. Overall healthcare funding is continually reassessed. As governments reduce coverage for some healthcareRead More…

 

Should you take early CPP retirement benefits?

Before talking about the financial implications of taking your Canada Pension Plan benefits early, you should know that if you pass away before you elect to take your CPP benefit, your spouse will not be entitled to the survivor’s benefit.  And if you have a pressing financial need to take CPP early, then you mayRead More…

 

Strategies to reduce impact of the OAS clawback

Old Age Security (OAS) benefits are available to anyone in Canada 65 years of age and older as long as they meet specific residence requirements. You do not need to be retired and employment history is not a factor when determining eligibility. The Old Age Security program is financed from Government of Canada general taxRead More…

 

How much can you expect in CPP and OAS?

Fewer Canadians will contribute to their Registered Retirement Savings Plans this year (or plan or save for retirement at all). A Scotiabank survey finds that just 31 per cent of Canadians plan to contribute this year, compared with 39 per cent last year. Canadian households spend about $1.65 for every dollar earned, according to StatisticsRead More…

 

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…

 

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…

 

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…