Financial Independence Tips for Seniors
Posted on:As people age, maintaining financial independence can become increasingly challenging. However, there are steps that senior can take to help ensure that they can continue to live independently and enjoy their golden years without financial worries. Below, we will discuss some of the ways that seniors can maintain their financial independence for years into the future. Create a Budget One of the…
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New Tax Planning Opportunities
Posted on:Canadians have various existing tax reduction opportunities to consider for their own personal situations and one NEW strategy arrives this spring: First Home Savings Account (FHSA). The FHSA has a few unique features versus the already existing Home Buyers Plan. To start, any Canadian over the age of 18 can make tax-deductible contributions up to the yearly maximum of $8,000 or the lifetime…
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Budgeting Your Way to Financial Independence
Posted on:Financial independence is an important goal that many Canadians aspire to - but achieving it can feel like an overwhelming task. However, with the right mindset and a few key strategies, it is possible to budget your way to financial independence. We have listed several time-test strategies below: Understand Your Income and Expenses The first step to budgeting your way to financial independence…
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Are You Ready to Retire?
Posted on:According to a 2022 survey,1 only 35% of Canadians aged 50 and older feel they're financially ready to retire. Sixty-two percent report being unprepared or unsure if they have the resources. In a similar survey, Bromwich+Smith and Advisorsavvy2 report that 71% worry they will never be able to save enough to retire comfortably. Sixty-two percent are delaying retirement indefinitely. A 2023…
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How to Achieve Personal Financial Success
Posted on:As the recent pandemic crisis made its way around the world, creating havoc in its wake, we can be thankful most Canadians were able to weather the storm in fairly good financial shape. Now Canadians are mostly concerned about spike in the interest rates and how that will impact their financial and retirement plans during the next few years. While nobody can ever solve national or international…
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