Tag Archives: Retire Without Debt

Sadly, bankruptcy among seniors is on the rise. This is one more worry to be added to a long list for family members who are concerned about their aging parents. Not used to credit cards in their youth, many seniors are racking up credit card debt at an alarming rate; finding… Read more

“Opportunity is missed by most people because it’s dressed in overalls and looks like work!” – Thomas Edison While most of us understand why saving money is a smart idea, most of us are also pretty terrible at actually saving money. In Canada, our savings rate has been less than… Read more

The phrase “bank of mom and dad” is used as witty humour to highlight the fact that our younger generations are beginning to lean on their parents for support when it comes to paying for costly investments such as schooling, a car or even a house.  It’s not uncommon for parents… Read more

Recently one of our advisors, Doug Hoyes, was interviewed by newretirement.com about how debt can be a handicap for those approaching retirement. Roughly two-thirds of Canadians 55 and over carry debt in their pre-retirement years and only half of those will pay off that debt before the5 y retire. So… Read more

Almost one third of all personal insolvencies are now filed by the baby boomer generation. This is a staggering statistic, and shows that not only have many seniors not saved for retirement, but in fact they will be carrying debt into retirement. While some of your expenses may decrease in… Read more

As recently as ten years ago, this issue seldom came up.  Now, we meet with people every week that need to understand what they can do to deal with their parent’s debt.  In most cases, the adult children that come in to see us have no idea how much their parents… Read more

Did you know that the idea of retiring at 65 was introduced way back in 1883? You’d think we’d have had enough time to get used to the idea of planning for the future, wouldn’t you? The funny thing is, when Chancellor Otto Von Bismarck of Germany introduced the retirement… Read more

In my practice I see a lot of older Canadians finding themselves facing debt problems they never expected to face in their senior years. In fact, debt among seniors is a growing trend, something to be concerned about. So when I first heard of reverse mortgages (quite a few years ago) my… Read more

Canadians are working longer, having to delay retirement, and the trend is increasing according to results just released by Statistics Canada. For many, high debt levels going into retirement may be the cause. In 2009, a 50-year-old worker expected to retire at the age of 66. In 1997 the expected retirement… Read more

Now that you have set your financial goals, determined your net worth, made a personal budget, developed a savings plan and dealt with your debts  – you are prepared for the unexpected. Now you need to prepare for the “expected”: retirement. Below we provide a simple retirement savings calculator and planner… Read more