How financially prepared are Canadians for retirement?
Most Canadians – 80% – would rather have an improved pension, or any pension, than a higher salary. At least this was the main conclusion of a recent survey ran by Ottawa based research company Abacus Data1 on behalf of the Healthcare of Ontario Pension Plan (HOOPP). The survey, which gathered the views of 2500 […]
Estate planning for pets
Pets are, it is widely accepted, a crucial component in family life. According to Matthew Metos1, vice president of Advanced Planning for Fidelity Investments and an estate planning for pets specialist: “A lot of people love their pets as much as they love their children.” Mr. Metos adds: “So it makes sense to consider taking […]
Rising Healthcare Costs and Your Retirement
When an individual plans for retirement, they often think of how much money is needed to fund their lifestyle. This is important, as one’s housing, travel and spending habits are personal and will affect their retirement income needs. However, many Canadians fail to anticipate the full cost of healthcare in their older years. It’s not […]
Majority of Small Business Owners Nearing Retirement
As small business owners retire, the effects will be felt in communities across Canada, impacting their families, society, and the economy. According to the latest analysis by Barlow Research, the average small business owner is just over 60 years of age, and almost 40 per cent are 65 years or older – a percentage that […]
Elements of a Plan
Succession planning does not take place in isolation from the larger issue of your overall financial security. An effective succession plan will examine all aspects of your financial situation. This includes: A) Distribution of Ownership If transferring ownership of your business, a shareholder agreement is a key tool that should be considered.
Six Steps for Building a Financial Plan for Ageing Parents
We have touched on the issue of caring for ageing parents in the past, but we’re revisiting it again because – for many if not most of us – it remains an inescapable fact of life. In a recent issue of Time magazine, writer Christopher Mathews offered some invaluable insights about the six basic financial […]
Helping Aging Parents Look After Themselves
Aging parents – distressing though it is to recognize – inevitably face declining capacities over which they have diminishing control. As a result, many of us are confronted with the unenviable task of managing the wealth, health and overall wellbeing of parents who can no longer adequately look after themselves. Before things take a turn […]
Optimum Strategies for Creativity and Longevity
While we recognize that research and tech industries need to maintain a competitive pace with their peers by maintaining a younger workforce, the trends indicate a diminishment in the value of working to a ripe old age, both by employers and for employees. While we don’t agree that experience is without value, it’s clear to […]
Business Succession Planning
A business often represents a lifetime of work and vision. However, despite almost three-quarters of business owners wanting to transfer control or exit ownership within the next decade, barely a third has a formal succession plan in place. Lack of a plan is the most common reason family businesses fail to survive first-to-second generation ownership. […]
Increase your Retirement Success
Studies show that investors who work with an advisor save at twice the rate and accumulate four times the assets of those who don’t. While there is a wide range of investment products out there specifically designed to help people prepare and plan for their retirement, there really is no substitute for sitting down with […]
