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Retirement

End of year retirement savings checklist

Posted by on Nov 9, 2017 in Retirement, Saskatchewan Pension Plan | 0 comments

November 6, 2017 — You have finally paid off the credit card bills incurred on your summer vacation. Black Friday is coming up and you are starting to get serious about Christmas shopping. But before you do, pay yourself first and top up your retirement savings. Here are some suggestions: Saskatchewan Pension Plan: If you are already a member of SPP, make sure you have contributed the maximum $2,500 for 2017. Also transfer up to $10,000/year into the plan from a Registered...

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What to look for in a long-term care home

Posted by on Nov 9, 2017 in Retirement, Saskatchewan Pension Plan | 0 comments

November 2, 2017 — When the health or capacity of a loved one deteriorates and the family decides that a nursing home is the best care option, it can be a very traumatic time for both the caregivers and the patient. You want to ensure your parent or friend is placed in a facility where they will get the best possible care in a safe, nurturing environment. However, depending on the length of waiting lists and where you live, your choices may be very limited. For example, this...

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What you need to know about residential care for seniors in Saskatchewan

Posted by on Nov 9, 2017 in Quality of Life, Retirement, Saskatchewan Pension Plan | 0 comments

October 26. 2017 — Whether you are a member of the “sandwich generation” with young children and older parents or you are a senior yourself, sooner or later you will need to understand the residential care options in Saskatchewan for individuals who can no longer live at home, and how much they cost.  Typically, residential facilities are characterized as either retirement homes or government-subsidized nursing homes. In the discussion below we distinguish between the two, the...

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Your guide to upcoming CPP changes

Posted by on Nov 9, 2017 in Retirement, Saskatchewan Pension Plan | 0 comments

 October 19, 2017 ___ In June 2016 federal, provincial and territorial finance ministers finally reached an agreement to expand the Canada Pension Plan. However, because the changes will be phased in over an extended period, there has been considerable confusion among many Canadians about how both CPP contributions and benefits will increase, and who the winners and losers will be. The Globe and Mail reports that an expanded CPP is designed to address the shortfall in middle-income...

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Oct 16: Best from the blogosphere

Posted by on Nov 9, 2017 in Money management, Retirement | 0 comments

October 16, 2017 — There is nothing like curling up on the couch to watch a good movie on a chilly, autumn evening. Before you move on to Netflix, here are some great new personal finance videos that will educate and entertain you. In Money Left on the Table, Kerry Taylor, aka financial writer and blogger Squawkfox is interviewed on the CBC News Network about eligibility for Registered Disability Savings Plans and how to navigate the application process. She says, “There is really...

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Don’t be fooled by CRA’s record of your TFSA contribution room

Posted by on Nov 9, 2017 in Money management, Retirement, Saskatchewan Pension Plan | 0 comments

September 21, 2017 — Several months after my husband and I filed our 2016 income tax returns and got our refunds, we received identical ominous envelopes from CRA.  They contained Notices of Assessment reporting that each of us had over-contributed $5,500/month for the last five months of the year, resulting in a $28,201 over-contribution to our TFSA accounts. Yet further down on the notices, it said the contributions to each of our accounts in 2016 totaled only $10,859.79. Upon...

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