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All Things Senior Archive

Finance

3 unusual retirement resolutions for boomers - Resolve to save more, pay down your debt, improve your diet, exercise more, learn about Medicare and Social Security: You've probably read tips like these in countless lists of New Year's resolutions for baby boomers. And they're indeed good steps in preparing for a lengthy retirement. CBS News

 

Investment-scam artists find new ways to draw in victims - Earlier this year, when Douglas Wayne Schneider was handed a one-year sentence for his part in a massive mortgage investment fraud in Alberta, few of his victims felt vindicated. Not only was the scheme’s mastermind, Kenneth Charles Fowler, still on the loose – he still is, reportedly having fled beyond Canada’s reach to Costa Rica or Belize – but only a small fraction of the $12.5-million lost was ever returned. The Globe and Mail

 

Money Moves for Women Who Become Single in Retirement - On average, women outlive men by about five years, according to the Centers for Disease Control and Prevention. And the Social Security Administration reports that women who reach age 65 can expect to live, on average, 21 more years. Overlay on that the Association for Financial Counseling and Planning Education’s prediction that seven out of 10 boomer women will outlive their husbands, which means that many of these women will be living as widows for 15 to 20 years. Next Avenue

 

How to keep financial anxiety from rising in your sunset years - Of all the places in Canada to retire, B.C.’s Salt Spring Island ranks right up there in terms of desirability. Beth and Patrick Mitchell chose the Southern Gulf Island for its active arts community, vibrant food culture, decent weather and numerous services, including a small hospital. The former Vancouver residents couldn’t be happier. They just hope they have enough money to last them until they have both drawn their last breath The Globe and Mail

 

Boomers, infrastructure will force redesign of Canada’s fiscal federalism - Several issues of fiscal policy were highlighted in the recent federal election campaign, including budget deficits, spending on infrastructure, changes in tax rates for middle– and upper-income Canadians, and reforms to child-benefit programs. The Globe and Mail

 

Pension systems still feel effects of financial crisis - Pension systems remain under strain in many countries amid slow economic growth and moves by governments to shore up financial stability in the wake of the global financial crisis, a new report by the Organization for Economic Co-operation and Development suggests. Benefits Canada

 

How the co-op model keeps businesses alive when boomers cash out - As hundreds of thousands of baby-boomers prepare to retire from the small businesses they own, most will overlook one succession option; converting their enterprise into a co-operative. The Globe and Mail

 

Aging population sparks investor interest in health-care real estate assets - TORONTO - As aging baby boomers fuel growing demand for health-care services, investors are increasingly turning their attention to medical office buildings — a niche within the real estate market that some argue is recession proof. Montreal Gazette

 

Financial crisis damage still being felt by pension systems worldwide - Pension systems remain under strain in many countries amid slow economic growth and moves by governments to shore up financial stability in the wake of the global financial crisis, a new report by the Organization for Economic Co-operation and Development suggests. CBC Canada News

 

The Trait That Makes Older Workers Desirable (Not Experience!) - A funny thing happened on the way to the unemployment office. People 55 and over actually began to get hired for jobs. After years and years of being the first fired (high salaries) and last hired (again, high salaries), somebody figured out that people 55+ are actually not quite all senile and have this one quality that gives them a leg up over younger workers: They are afraid to ask for a raise. Huff/Post 50

 

2015 Ontario Senior Achievement Awards Recipients - The Ontario Senior Achievement Awards recognize men and women who have made outstanding contributions to their communities through voluntary or professional activities after the age of 65. The 2015 recipients of the Ontario Senior Achievement Award are: News Ontario

 

Aging population sparks investor interest in health-care real estate assets - TORONTO – As aging baby boomers fuel growing demand for health-care services, investors are increasingly turning their attention to medical office buildings — a niche within the real estate market that some argue is recession proof. Canadian Business

 

A Grandmother’s Tale: When Anne Lamott’s Teen Son Became a Dad - My very young son became a father in mid-July of 2009, when his girlfriend, Amy Tobias, gave birth to their son. They named him Jax Jesse Lamott, Jesse after Amy’s beloved grandmother, and Jax because they like the way it sounds. Amy was 20 when she delivered, and Sam was 19. They’re both a little young, but who asked me? Readers Digest

 

MLA's motion seeks help for grandparents raising grandchildren - A Liberal backbencher is urging her government to offer more support for grandparents caring for their grandchildren, including more financial aid. A motion by Summerside-St. Eleanors MLA Tina Mundy in the P.E.I. Legislature received unanimous support last week. CBC Canada News

 

The three stages of retirement spending: When not to be stingy - In the two years since John Green has been retired, the Vancouver resident and his wife have travelled across parts of Europe, England, the western United States and have taken an Alaskan cruise – and they’re not done yet. Next year it’s England again to visit relatives, and Ireland. The Global and Mail

 

National News: Week 4 of #FLM2015 to focus on preventing and protecting against fraud and financial abuse - Jane Rooney, Canada’s Financial Literacy Leader, invites Canadians to take part in the fourth week of Financial Literacy Month (FLM) by participating in activities that focus on preventing and protecting against fraud and financial abuse. Northumberland View

 

Which retirement funds should I withdraw first? - Upon retirement, how do you determine an orderly withdrawal of funds? The Globe and Mail

 

One Critical Expense Most Financial Plans Don't Address - With people living so long these days, why haven't financial planners been more focused on how to help clients who are planning for retirement specifically plan for longevity? The more sobering side of longevity, that is. Huffington Post

 

Investors: 3 Ways to Cash In on This Upcoming $1.2 Trillion Opportunity - There are more than nine million baby boomers in Canada, and last time I checked, they’re not getting any younger. Fool

 

How much do you need to save for retirement? - Here’s somewhat of an intimidating question: Are you on track to achieve your retirement savings goal? If you don’t quite know the answer, take heart—most Canadians don’t know either. In fact, only 42% of us agree that we understand how much we need to save for retirement, according the latest results of a BlackRock global investor survey that tasked 2,000 Canadians with this question. Money Sense

 

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