A Tax-Free Savings Account or TFSA is designed to help Canadian citizens save money without undue tax consequences. It is a flexible investment vehicle that is similar to an IRA in the U.S. but allows multiple withdrawals without penalties. A TFSA can help Canadians accomplish short- and long-term investment goals. How Does A Tax-Free Savings Account Work? Money […]
Canadian Tax Free Savings Account vs IRAs Read More »
Even if retirement is still a few years (or even a decade or two) away, there are sound practical reasons to start preparing for it today. If you are in your 20s, or maybe your 30s, don’t think you’re too young. Many adults make this mistake and don’t begin preparing for retirement until they’re well in their
4 Simple Ways to Start Preparing for Retirement – Today Read More »
Can something be a “poor investment” but “not a bad idea”? In today’s article Dennis Miller looks at reverse mortgages and tells us that they can be exactly that. Although the odds may be stacked against you. To beat the odds check out today’s article. ~Tim McMahon, editor. Reverse Mortgages- One of the biggest challenges facing retirees is
Reverse Mortgages: A Lousy Investment that May Be a Good Source of Income Read More »
When we think of Annuities, we think of a stream of payments that begins after retirement and generally continues for “X” number of years this is called an “Annuity Certain” . In a “Life Annuity” you pay a fixed amount up front and receive a series of payments for the rest of your life no matter how
Life Insurance and Annuities: The Secret is the Bottom Line Read More »
You may have heard the popular legend about Eskimo tribes sending the elderly off to die at sea. As the stories go, when grandpa and grandma could no longer hunt or earn their keep, the younger folks would put them on an iceberg and ship them off. Fewer mouths to feed gave the younger generations
How Long Will You Work When You Should Be Retired? Read More »
One common misconception is that estate planning is only for those who are wealthy or have a large amount of assets to their name. Though not a pleasant topic, some basic estate planning is essential to ensure that your family is not faced with the hassle of court appearances and legal matters when you are
Planning Your Estate: 6 Things To Remember Read More »
I have often said that rental property if done properly is a great way to build a retirement income. You buy houses let the tenants pay off the mortgage and then once they are paid off you still receive the income but now it can go in your pocket rather than in the Bank’s pocket.
Is Real Estate a Wise Investment for Retirees? Read More »
After spending decades working day in and day out 30% of retireees consider Social Security to be their primary source of income. If you want to avoid that fate it’s important to begin planning as soon as possible…
Planning For A Financially Secure Retirement Read More »
A recent Gallup poll determined that, 42% of low-income respondents will rely on Social Security and part-time work to help them through their “golden years”. Surviving on Social Security alone is difficult if not impossible but unfortunately many are relying on it. Other countries have similar results, for example in Australia government pensions are still
Optimizing Your Pension Choices for Approaching Retirement Read More »
Why Are So Many Seniors Still Working? By Dennis Miller Go into any fast food restaurant or retail store and you’ll find a lot of seniors working for minimum wage. Here’s why. When personal computers hit the scene, numerous retirement-planning programs quickly became available. You entered your personal financial information, along with yield and inflation
Rethinking Your Retirement Calculations Read More »
Funerals are important occasions that need to be approached with due care and attention. As a dignified event, intended to help mourners bid their final farewell to loved ones, there are many things to consider when planning a funeral. Burial or Cremation Perhaps the first thing you need to consider when arranging a funeral is
Saving Money on Funeral Planning Read More »
Retirement is meant to be a time of relaxation and enjoyment but it can also be stressful if you haven’t prepared properly for it financially. If all you are relying on is Social Security you are destined for trouble. Social Security is not meant to be a pension plan but rather a safety net in
Retirement Finances- 2 Options for Planning for the Future Read More »
