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Healthcare Insurance Benefits for Retirees in Canada

WEB80% of the cost of prescription drugs up to a maximum of $5,000 per person per year. 80% of basic dental services up to a maximum of $1,200 per person per year …

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URL: https://www.myownadvisor.ca/healthcare-insurance-benefits-for-retirees-in-canada/

Health is wealth – don’t forget this when planning for retirement

WEBI have developed The 10 – Step Long Term Care Planner, which includes the following advice: Understand what illnesses you have/may face as you age; look …

Category:  Health Go Health

What is a Financial Plan and what should it cover

WEBFinancial Planning 101. In my book, I feel the following are good elements of any comprehensive financial plan to review on some periodic basis: Goal setting. How …

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Retirement Income for Life

WEBJust a minor point re. age at retirement. Many years ago (about 50!) Treasury Board issued a memo to all federal employees stating that, according to their statistics, …

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Should I draw down my RRSP before taking my pension

WEBWe could likely withdraw about $30,000 – $35,000 per year (before taxes) starting around age 55 and not fully deplete our RRSP accounts for 20-25 years; …

Category:  Health Go Health

Why Saving Too Much for Retirement Can Be a Mistake

WEBThe experts say you need ~70% of your working income to maintain your lifestyle, but I figure we’ll need around 25% to live the same. It’s probably worth telling …

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3 Big Fat Myths about Critical Illness Insurance

WEBWell, the answer could be one of two things. First, critical illness insurance can be used as an emergency fund. If you get taken out of work due to contracting a …

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The costs of elder care in Canada

WEBThe range I suggest (all based the 300+clients I’ve served) is $1500 to $4000 per month for eldercare costs, which includes everything from personal care, …

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What does our post-pandemic future look like

WEBImages courtesy of iShares site. In our COVID-19 context, you should know the U.S. government in particular has already given Johnson & Johnson hundreds of …

Category:  Health Go Health

5 Important Factors to Consider in Your Decision to Retire

WEBI’m intending to use a modified bucket strategy to deliver my income in semi-retirement. Your mileage may vary. Bucket 1 is cash savings. It’s simply a large …

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What to consider when workplace benefits are disappearing

WEBWhat to consider when workplace benefits are disappearing. Workplace health and dental benefits don’t get as much love as they should. To borrow a line from …

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Age 60, retirement on a lower income – can I do it

WEBCPP: Assume 35 years of full CPP contributions (ages 25-60) and a few years with partial contributions. CPP at age 60 = $8,580/year. CPP at age 65 = …

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Dividend Growth Investing Made Easy with ETFs

WEBLet’s check out a few popular ETFs that invest in and hold many dividend stocks. 1. Vanguard High Dividend Yield ETF (VYM) VYM has over 400 individual …

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Credit Score 101

WEBAccording to the Financial Consumer Agency of Canada your credit score can range from 300 – 900 . Higher is better, lower is cause for concern. This trusty site …

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How much do you need to retire on $7,000 per month

WEBA lot. In playing with some numbers, if you wanted to spend-it-all, assuming 5.5% rates of return and sustained 3% inflation, you’d need to have a whopping $2.15 M …

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The Essential Retirement Guide – Review and Giveaway

WEBChapter 1 – The Road to Retirement shares six simple steps to success but also lists detours to avoid, if at all possible. For the curious, the six recommended steps …

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This is insane, you don’t need $5 million to retire

WEB84,489. Most retirees don’t need $90k per year to live from though. After the mortgage debt is gone, kids have left the house and actually saving for retirement is no …

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