He helped bring thousands of wounded Canadian soldiers home from overseas. Show your support for one of Canada’s oldest living veteransContinue Reading..
As the proud presenting partner of The Royal Canadian Legion’s Digital Poppy campaign, this November 11th at 11:00am we #PauseToRemember that war is not a gameContinue Reading..
While living with debt can be tough at any age, living with overwhelming debt in your retirement years, without a steady income stream can be even tougher. A financial solution, such as a debt consolidation mortgage may help you roll all your high-interest debts into a single debt with manageable, lower interest payments.
Thousands of Canadians are using a reverse mortgage as part of their retirement solution. Purpose-built for Canadians 55+, reverse mortgages allow homeowners to turn some of their home’s equity into tax-free cash.
However, amid the economic uncertainty, banks are re-evaluating their HELOC policies, and considering amendments to their line of credit programs. In order to understand the reasons behind these revisions, let’s take a closer look at how things stand today. As early as mid-April 2020, one bank has already changed some rules for borrowers around using HELOCs as down payments on investment properties, while another bank has stopped accepting new HELOC applications temporarily.
Preparing for retirement is no easy task. While most of us look forward to the freedom it brings, a surprising number of us aren’t prepared financially. A national survey of Canadian pre-retirees found that 56% don’t have a plan for retirement savings. Even among those that do have a plan, almost a third feel that they’re falling behind.
Medical insurance options for early retirees are probably more attractive, given that they usually don’t qualify for any financial assistance before 65. Is it worth having private health insurance if you’re under 65 and spending thousands on prescription drugs? Probably, but again, it is important to do the math before signing up for any plan.
However, the downside of retirement freedom is having to rely on a fixed income. If that income is inadequate, the retirement dream can soon turn into a nightmare. A national survey of Canadians aged 60-plus found that almost half of them have at least one financial concern.
There are clear advantages to moving to a retirement or assisted living home where everything is done for you. You’re helped with dressing, cooking, cleaning and bathing. Many of these homes also have a doctor or nurse on site.
We live in the times of COVID-19, a deadly disease that has brought almost the entire global economy to a standstill. Countries across the world have gone into a complete or partial lockdown, with individual provinces and cities also declaring a “State of Emergency”.
Figures are similar in Canada, with 62% of people admitted to the ICU being aged 60-plus. There is no doubt that all Canadians, especially those ages 55+ should be staying home as much as possible, but social distancing can cause other problems.
Reverse Mortgage Videos
The CHIP Reverse Mortgage can help you stay in the home you love and live retirement on your terms.
Watch as Doris tells these nosy neighbours to back off, she's not going anywhere!
Retirement shouldn't mean selling your beloved home.
At age 76 Donald Jackson is still very active in Canadian figure skating, with occasional appearances in figure skating shows,
This is the third article in the series featuring our partners, Canadian figure skaters Kurt Browning and Donald Jackson.
This is the second article in the series featuring our partners, Canadian figure skaters Kurt Browning and Donald Jackson.
Joyce Wayne: Retirement Matters
With each week of self-imposed isolation, I’ve come to realize how central restaurants are to my daily life, and daresay, to my well-being, let alone the joy of partaking in delicious food, which is, in and of itself a wondrous experience.
That day in May, geriatric experts proclaimed that the situation in long-term care facilities was a 20-year disaster in the making, yet it took a pandemic to expose it. Years of hidden neglect, overcrowding, unsanitary, cockroach infested conditions, not addressed by two decades of provincial governments, finally dominated the news, grabbing our attention while breaking our hearts.
His findings erode the idea that older adults naturally grow uninterested and uninteresting as they age and that an inevitable lethargy sets in over time. According to Dr. Daniel, there are apparent “neurochemical changes that make older adults happier.” What he terms the ‘positivity bias’ or the tendency in older adults to see the good qualities in people and situations, makes for the happiest and often most productive adult demographic neurologists have studied
The HomeEquity Bank Note
As we hunker down at home, we are witnessing history that is reshaping life as we know it. Most of us never thought we’d experience a global pandemic on this scale.
COVID-19 is most dangerous for those 65 and up, and that’s a big portion of Canadians. As of 2018, 15% of Canadians were 65 and older, and 29% were baby boomers just hitting retirement age.
It’s hard to imagine that amid a global pandemic, while millions of people around the world struggle to stay healthy and adhere to public health directives, cybercriminals and scammers are still hard at work trying to defraud people.