According to a national study conducted on behalf of the Financial Planning Standards Council (FPSC), women are significantly more likely than men to lose sleep over financial worries. While the study found that 42 per cent of Canadians (excluding Quebecers) rank money as their greatest stress, 51 per cent of women, versus 40 per cent of men, are more likely to stay awake at night mulling over their financial woes. Health Canada places long-term stress on issues such as finan

So far in this series, we have suggested things to think about for the first two phases of retirement: Active and less active lifestyle and Getting help. In the third stage of retirement, activities and outings may have mostly stopped and significant medical expenses, as well as possible long-term care costs, might be required. Here is our advice on how to proceed if you need to navigate a move to continuing or long-term care: THE TABLES HAVE TURNED In the transition from chi

In Part 1 in this series , we provided insights about the active and less active phases of retirement and how to enjoy the fruits of your labour without compromising future financial needs. There may come a time when your activities and related expenses are greatly reduced, yet health-related expenses increase. To suit changing mobility and other health challenges, you may opt to get in-home help or move to an assisted living facility. Here are our tips for navigating the mos

The joys of retirement are many, including time to travel, socialize, play golf or other recreational pursuits, and generally enjoy a more leisurely pace. Planning ahead can help ensure you have the financial resources to enjoy these activities, worry-free, for as long as possible. Planning also means considering your later years of retirement, when you may slow down or need additional care. In this series of three articles, we offer tips to smooth the transition through the

No matter what your age, retirement planning should be a part of your financial plan so that you’re prepared to make the most of this rewarding phase of life. In this overview of the “Navigating retirement” series, we outline the most common priorities to focus on—and missteps to avoid—when planning for your post-work years. PLANNING MAKES PERFECT A happy and fulfilling retirement starts with the right financial plan . With your financial planner, create a detailed and realis