Those saving for retirement have been focused on building the largest nest egg possible. As their retirement date approaches, the focus turns from asset accumulation to income generation. For most people, delaying CPP payments will maximize their lifetime benefit, but many factors like health, taxes, and inflation should be considered.
Estate planning is a risky task to procrastinate! Neglecting your planning duties can end up costing your estate or loved ones in the form of probate costs, potential legal battles, and unnecessary tax burdens. Unfortunately, many people think that they can skip the estate planning process and that it doesn’t apply to them.
The cost of university has risen sharply, and so has the importance of graduating with a desired and marketable set of skills and knowledge. Without a post-secondary education, employment and life opportunities are more limited now than ever before. Contributing to a grandchild’s education helps them and their parents and helps you stay connected in a meaningful way.
A retirement savings plan is a way of protecting your post-retirement financial lifestyle. However, in recent times, recessions, stock-market declines, housing market bubbles, joblessness, and, most recently, a global pandemic have created a series of challenges for people trying to start, grow, or maintain a retirement savings plan.
