One of the real pluses of being an Empty Nester is that you are no longer on view as a role model 24/7
Free at last, free at last! The children have grown up and moved away, your house is your own to do with what you will and your schedule is now open to anything you wish to pursue. So why are you so divided in your feelings? Empty Nest syndrome hits when your daughter or son…
Can you afford to hold off and increase your payments later? Will you need more CPP and OAS later in life? And how long do you expect to live?
Most people know they can start collecting their Canada Pension Plan (CPP) at age 60, even though they’ll get smaller monthly payments than if they waited until 65. Many people just want the money now and don’t care about any added benefits to delaying CPP and Old Age Security (OAS). The standard CPP and OAS…
There’s no hiding from the success tax, but several things can help legally reduce or even eliminate the amount your estate or your heirs pay
There’s no official estate tax in Canada but we do have what I call the success tax. It's what we pay if we’ve been financially successful in a lifetime of investing and asset accumulation. The more successful you’ve been, the greater the tax could be. If you have assets that will be taxable when sold or when deemed to have been…
Those who booed retiring Indianapolis Colt Andrew Luck should be ashamed of themselves. Athletes aren’t warriors created by central casting for our weekend enjoyment
Too many sports fans view athletes as robots designed to play games for their entertainment. They sit in the stands or on their sofas, a cold beer in their hands, and yell at injured players for being “too soft” and “not tough enough.” They think jocks should just “suck it up” and get on the…
Overall consumer credit balances continued to grow in the second quarter – up to $1.88 trillion
Cash-strapped Canadians may be treating their homes like ATMS to pay off their bills, says a study by MNP Ltd. In a news release on Tuesday, the largest insolvency firm in Canada said three in 10 Canadian homeowners with a home equity line of credit (HELOC) say they have used the funds borrowed to pay…
As baby boomers retire, the impact is being felt across all sectors in Canada, but some areas will suffer more
Canada’s workforce is clearly aging, as is the country’s population. According to a report released on Thursday by Statistics Canada, in 1996 there were 2.7 workers aged 25 to 34 for every worker aged 55 and older. By 2018, the ratio declined to 1.0. “The aging of the workforce is mostly the result of the…
RBC poll says many Canadian baby boomers worry about a retirement savings shortfall
Many Canadian baby boomers worry about a retirement savings shortfall and Albertans have the highest expectations for how much they think they’ll need to save for retirement, according to a report released on Thursday by RBC. In a poll, Albertans surveyed said they think they will have to save $1.1 million for their retirement. The…
Give yourself some time to evaluate options. Be honest with your ego and let your imagination troll through deep waters
A lot of my friends are retiring. And there are many retirement models being thought about, reviewed, argued and applied or avoided. But it doesn’t really appear to me that any of them were exhaustively analyzed before selection. In fact, many seem to be derived from previous family practice (i.e. what parents did), simply made…
Canadians’ savings are sheltered and foreign investors are reluctant. Laundered money fills a crucial investment gap
You could make a case that in the absence of illegal laundered money, there would be almost no risk investment capital in Canada. The problem with laundered money is huge. Recent estimates put the value of laundered money in Canada at $46.7 billion; other more realistic estimates have it in the range of $130 billion.…
Margot Schulman of Schulman Design talks about creating environments where all people can thrive
Margot Schulman is owner and CEO of Schulman Design. What is Schulman Design and what do you do? Schulman: We are a full-service commercial and residential interior design firm focused on universal design and fostering well-being for all people, especially those with accessibility and mobility needs. What sets us apart is that we take a…