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Why we should look into health care costs even if we are young

on Sat, 12/01/2018 - 12:18

Was chatting with a wholesaler and she told me about how healthy her great grandma is, how she is still functional compare to her grandparents... She worries that her grandparents might need health care sooner than her great grandma! I was telling her I have a number of clients who are in their 60's taking care of their parents who are in their 80's and 90's. This kind of picture is getting more and more common because we all live longer.

The ones who are in their 60's, if they were lucky that they had a good job or if they had been discipline enough to save up for retirement, they think are

The economic impact of aging workforce

on Thu, 10/08/2015 - 23:19

In the next 2 decades, we will have a very different family structure in our society. We will have more and more seniors and our working environment will be very different.

Dr. Patrik Marier, Professor and Canada Research Chair in Comparative Public Policy, Department of Political Science of Concordia University concludes at the Retirement Investment Summit Canada 20151 that: Aging population has “multifaceted consequences” 2. One of the consequences must be the impact and the complexity of workforce together with the economic effects…

During the period of 2000 to 2013, 10% of topics on

When is the best time to kick in my CPP?

on Sun, 01/05/2014 - 13:15
I have been chatting with a lot more baby boomers in the last couple of years, as more clients refer their parents, aunties and uncles to me. A portion of them had already retired and some of them are approaching retirement age. One of the common mistakes I gathered from the seniors I talked to, is kicked in their CPP way too early. You might ask: what do you mean? Don't you start your CPP at age 65? Normally, yes. However, not too many people know that you can actually choose when to kick in your CPP.
Then, the next question arise: why do I want to delay in applying my CPP?

Why you should NOT consider reverse mortgages

on Sun, 12/29/2013 - 12:18
Due to the shortfall of retirement needs, long term care needs and the sudden evaporated of retirees' retirement assets (which lots retirees switched to extreme conservative investment options after the 2008 market meltdown, gives them no chance to recoup their losses), I have heard more and more seniors are considering reverse mortgages.
Definition: also referred to as a Home Equity Conversion Loan, reverse mortgage is a financial instrument that allows seniors to access the equity in their home without income or credit qualifications.

Classic question: RRSP, RESP or TFSA??

on Sat, 10/05/2013 - 11:35
*Updated: Jan 17, 2020 with new Home Buyers' Plan info, and updated TFSA room
*Updated: Mar 29, 2019 with non residency of Canadians on TFSAs
*Updated: Nov 28, 2018 (TFSA annual contribution room increasing to $6,000 a year from 2019)
We all have limited resources... Lots of people asking the same question over and over again, among retirement savings, education saving for kids and tax free savings, which is the better way to save?
The answer is: it depends. I know, I know, you hate this answer.

A recent change on Service Canada's web access

on Fri, 02/22/2013 - 18:22

I previously wrote a post What is my CPP going to look like? on how to set up your account with Service Canada, so that you can check how your CPP looks and see your "Record of Employment"s online. 

So, it turns out they have made changes recently. We no longer need "Access Key" to get into the site. On the My Service Canada Account page (, you either a first-time user or a returning user, for those who had an access key already, the transition steps are pretty straight forward.

New steps to registration for access to Service Canada's

How to lock in your rates?

on Wed, 01/09/2013 - 12:03

Step away from short-term rates
Ladder your investments for a blended rate

If you think interest rates will go up, but don’t know when, consider laddering. A laddering strategy gives you a simple, long-term approach to investing your money by letting you stagger the dates you reinvest.

How does Blended Rate Laddering work?

Step 1

We divide your investment into 5 equal redeemable Ideal Term Funds. All of your money earns the same blended interest rate on the initial terms.

Laddering - Step1

The maturity dates of each of the five term funds are from one to five years.

Creating the perfect budget

on Sun, 11/04/2012 - 09:10

I have been hearing more and more people saying they cannot do a budget (not just people who feels they can't, but also people who have been done relatively well in their savings), ultimately, everybody feels that there is not enough savings (which is a good thing).

A lot of people have very negative thinking on budgeting. "Cut backs, tracking every penny and cannot have fun anymore..." are what they have in mind when they heard of budgeting, but really, budgeting is about figuring out how much you can spend after your bills.

TruFinancial sponsors Scarborough CARP Chapter - Official Launch Event

on Tue, 06/05/2012 - 09:08


Those who know me might recall my involvement in community work from time to time with different organizations, such as: United Way of York Region, The Healing Cycle and Foresters, as well as various fund-raising ventures for Scouts Canada, Breast Cancer Society and local schools.


I try to give back to the community as much as I can, like hosting free workshops on entrepreneurship, and the being a part of giving out a free wedding. As an individual, I reuse and recycle as much as I can, and try to lower my energy consumption through ongoing projects such as planning towards the

Effectively plan your real estate retirement plan

on Wed, 03/28/2012 - 10:25

I have heard from more and more clients indicated that they want to sell their shares from the market and start their real estate venture for their retirement… Especially when we see the housing market hitting highs over and over again. No matter how many experts or economists had been warning us the housing market is overheat, over-valued, housing bubble is about to burst…. since all these "warnings" had been on for quite some time now, people on average haven't really take that into account anymore.

CIBC World Markets economist and expert in real estate Benjamin Tal described the Canadian