This week’s article selection is inspired by a conversation I had with a client. Although the Canadian medical system provides seniors with drug coverage, clients are increasingly haunted by stories of drug exclusions and the costs of personal support workers and other age-related medical costs.
This white paper, produced by the Canadian Institute of Actuaries, demonstrates that the majority of Canadians would benefit from deferring their CPP pension onset to age 70 and drawing from RRSPs/RRIFs in the interim.
The world’s most successful investors take a long-term view. They buy and sell like collectors, not gamblers. When faced with the bombardment of news on inflation, employment, recession speculation and interest rate movements, these investors are able to contextualize these factors and tune them out.
Filling up your gas tank in recent months is like seeing the bill for your toddler’s birthday party – “how much?” For a smooth family life, however, both must be paid.
Inflation and interest rates have been the talk of the town in recent weeks. These are issues far-beyond our control with central banks all around the world scrambling to adjust and control them.
Intergenerational wealth, on our TV screens at least, conjures images of Succession’s Logan Roy dismissing one of his weasel kids with a sneer and expletive. Roy, the fearsome patriarch, who built his business from nothing, watches in disgust as the heirs to his throne – who do no work of any note – connive and backstab in an effort to win the keys to more money and power.
Higher interest rates may be unpleasant but banks have been bracing us for this trend for some time as evidenced by the stress-tests imposed on mortgages.
This article explains financial planning perfectly. If we use the medical analogy, a fee-for-service planner is like your family doctor or general practitioner.
I will never understand why people like to classify entire swaths of the population and make conclusions on them based solely on age.
The tax deadline is April 30th and many Canadians will soon be turning their attention to getting their tax slips in order.