Archive for May 2024
What’s Your Home Equity Release Strategy?
The majority of retirees want to remain in their homes and age in place as long as possible. Indeed, most of the financial plans for my retired clients project them to stay in their home, or a home of equivalent value, for their entire lives. That makes perfect sense if you plan on leaving your…
Read MoreWeekend Reading: Retirement Spending Edition
You might not have a hot clue how much you plan to spend in retirement, especially if those days are still a decade or further away. Even those nearing retirement may not have a good sense of their desired retirement spending amount. A good rule of thumb is that you’ll likely want to enjoy the…
Read MoreWeekend Reading: TFSA Catch-Up Edition
Some readers were appalled to learn that my wife and I completely drained our TFSAs in 2022 to fund a larger down payment on our new house. Okay, maybe not appalled – but it did raise a few eyebrows. Remember, inflation was running hot and interest rates started to rise in March of that year.…
Read MoreWhen Should Early Retirees Take CPP?
When should you take your Canada Pension Plan (CPP) benefits? Like many personal finance decisions, the answer depends on your unique circumstances. In general, it makes sense to defer taking CPP until age 70. The caveat is that you need to have other resources to draw from while you wait for your CPP benefits to…
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