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Home Financial Health Blog Archive for category "Gearing up for retirement" (Page 3)

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.

It’s time to make up for lost RRSP saving time

If you find yourself short on cash, or you’ve fallen behind with your RRSP contributions, an RRSP loan at today’s low interest rates can help recoup some lost time and get your retirement savings back on track. At first glance the missed contribution is just dollars and cents. But in the bigger picture there’s alsoRead More…

 

Everything can change in an instant

It can’t happen to me.  Can it?  I recently attended a talk by a gentleman who, while driving with his wife on some country roads, was broadsided by another car that went through a stop sign. Many of his bones were broken and he had extensive internal injuries such that he was not expected toRead More…

 

A Guide to Retirement Planning

The Financial Services Commission of Ontario (FSCO) has created “A Guide to Retirement Planning”, an easy-to-understand video series aimed at helping Ontarians prepare for their retirement. This series provides an overview of the three pillars of Canadian retirement income system as well as tips and resources you can use to make informed decisions about yourRead More…

 

Convertible Bonds

The stability of a bond, the upside of a stock A convertible bond or debenture is a type of bond that the holder can convert into a specified number of shares of common stock in the issuing company. It is a hybrid security with debt- and equity-like features. The investor receives the potential upside ofRead More…

 

Guide to retiring rich

Most people can retire rich if they really make a personal commitment to doing so.  It’s sort of like sticking to a diet.  Four characteristics go into successfully taking action on your personal finances and then sticking to a commitment to retire rich: Numeracy, education, motivation, and self-control according to Lewis Mandell, Ph.D and EmeritusRead More…

 

Freedom to choose …the journey to financial independence

You’ve likely seen some of the retirement clichés over the years – sailing a yacht into the sunset; climbing the tallest mountains around the world; swinging like a pro in plaid on the golf course. But, are these scenarios really for you? Let’s talk about the lifestyle you really want Creating the lifestyle you reallyRead More…

 

Seven reasons to have your insurance coverage reviewed

You may be paying too much or for the wrong coverage if you haven’t reviewed your life insurance lately. Here are seven insurance opportunities that could provide you with lower rates, better coverage, benefits you can receive while you are alive, an inheritance for your family, and a lifelong retirement income: 1. As people areRead More…

 

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…

 

What would happen if you couldn’t work?

Toronto freelance writer, Caroline Cakebread was in her early 30s when someone she knew had a terrible accident while hiking: A rock fell on his head and he lost the ability to walk and talk. “Not only was he in the hospital for months,” says Cakebread, “he was left permanently disabled and unable to work.”Read More…

 

What’s your probability of disability or critical illness before age 65?

Statistics show that workers between the ages of 35 and 65 are many times more likely to become disabled for an extended period than they are to die. For example, for a 45-year-old female the probability of becoming disabled before age 65 is 31%, her probability of being stricken with a critical illness is 17%Read More…