Three quarters of Canadians admit their financial plans don’t account for long-term care, and 55% believe government programs cover the majority of those costs, according to the Canadian Life and Health Insurance Association. That’s not the case. It will cost $1.2 trillion for Canada to provide long-term care to baby boomers, and current government programs […]
Your clients are living longer. And, as a result, are more likely to face complex health issues. While they may have a will, it’s crucial to remind them that it won’t cover potential incapacity and all health issues. Read: Don’t assume your client has a will The number of seniors aged 65 and over increased […]
Canadians have to save significantly less than Americans for retirement because they have lower health care costs.
CARP appears to be getting little industry support in its resistance to the federal government’s raising OAS eligibility from age 65 to age 67. In an open letter to MPs, CARP asked to separate OAS changes from the rest of the Budget, demanding a wider debate on the issue. “CARP members would be shattered to […]
The Federal Government has passed Bill C-25, the Pooled Registered Pension Plan (PRPP) Act. It provides a legal framework for the establishment and administration of a pension plan accessible to employees and self-employed persons.
American retirees have less money, but are spending more. If your clients are doing the same, ask them consider the serious consequences of running out of funds.
While Canadians are feeling a bit better about their overall financial health, they are still plagued by the thought of insufficient income in retirement, according to the recent Russell Financial Health Index.
The leading edge of boomers has already entered retirement, shifting their focus from wealth accumulation to ensuring they have an adequate income stream to maintain a comfortable lifestyle.
The majority of financial advisors say the dollar value of their clients’ retirement portfolios are nearly recovered from the downturn, but that “the psychological scars run deep,” according to an SEI Quick Poll released today.
The Ontario government’s reluctance to move ahead with implementing PRPPs in the province has raised the ire of several prominent industry leaders.