Health

Part 2 of 3 – Were the actions of the advisor or the firm ageist?

Part 2 of 3 – Were the actions of the advisor or the firm ageist?

The Vancouver Sun published a letter from on April 24, 2013 that has caught my eye – http://www.vancouversun.com/life/take+tarnish+golden+years/8286714/story.html Ms. Zimmerman’s letter and concerns were motivated by a conversation with her financial advisor initiated at the request of his supervisor.  The conversation was about a suggestion for Ms. Zimmerman to appoint a power of attorney (POA) for property, given her age […]

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Part 1 of 3 – Were the advisor’s actions unsuitable?

Part 1 of 3 – Were the advisor’s actions unsuitable?

The Vancouver Sun published a letter from on April 24, 2013 that has caught my eye – Let’s take tarnish off golden years, by Lillian Zimmerman.  http://www.vancouversun.com/life/take+tarnish+golden+years/8286714/story.html Ms. Zimmerman’s letter and concerns were motivated by a conversation with her financial advisor initiated at the request of his supervisor.  The conversation was about a suggestion for Ms. Zimmerman to appoint a […]

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Ontario’s Proposed Ontario Drug Benefit Change – Budget 2013

Ontario’s Proposed Ontario Drug Benefit Change – Budget 2013

Last week’s Ontario budget announcements included a new health care deductible amount for seniors with high incomes.  This affects single seniors with incomes over $100,000 or couples with a combined income of more than $160,000.  Details are here:  http://www.cbc.ca/news/health/story/2012/03/27/toronto-ontario-budget-health.html .  The estimate annual increase in cost for prescription drugs for high income seniors is estimated at $665. On the surface […]

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Motivations for completing power of attorney for personal care

Motivations for completing power of attorney for personal care

Powers of attorney can be set up for property as well as for personal care.  This post is specifically about personal care and the motivations to complete one.  As more choices become available for end-of-life care, documentation of your personal wishes becomes increasingly important.  Every once in a while a survey results are released indicating how many people have various […]

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Preparing Financial Plans using Canadian Consumer Spending – Health Care

Preparing Financial Plans using Canadian Consumer Spending – Health Care

Health care is an expenditure that is difficult to control at a personal level.  This means that health care expenditures can be a key threat to wealth depletion.  Information collected by Statistics Canada can be  helpful when preparing financial plans.   Although it’s impossible to know how the health care insurance system may experience future changes, this information is helpful in assessing […]

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Gifting – Question #4 – Manipulation

Gifting - Question #4 - Manipulation

The issue of elder abuse is increasing in awareness.  Yet I continue to see family dynamics that leave me concerned that manipulation is taking place.  Money can be used as bargaining power in relationships.  This may sound negative but it isn’t necessarily so.  Bargaining happens all the time – you help me with something and I feel drawn to return […]

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Caring for the aging is not the same as caring for an infant

Caring for the aging is not the same as caring for an infant

The beautifully written piece in the The New York Times by Carol Mithers http://newoldage.blogs.nytimes.com/2013/03/22/suddenly-theyre-all-gone/ - “Suddenly, they’re all gone” makes a comparison that I’m uncomfortable with.  I’ve heard this said many times before and I do not agree with it.  The statement in the article is: “Caring for the old is just like parenting an infant…” Ms. Mithers does address the […]

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Caregiving and then ‘Suddenly they’re all gone’

Caregiving and then 'Suddenly they're all gone'

Carol Mithers’ piece, “Suddenly they’re all gone” in The New York Times is beautifully written (1).  It is about her experience caring for aging relatives and her feelings after their death.  Mithers experienced back-to-back caregiving as aging relatives reached a point where her help was needed.  Much of it took place at a distance.  The exhaustion is relentless as described in this excerpt: […]

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Gifting – Question #3 – Diversification

Gifting - Question #3 - Diversification

We know about diversifying our portfolios – although we don’t always do it.  If our financial eggs are all in one basket we take a huge risk that failure of an asset class could substantially decrease our net worth.   Another way we diversify is in our personal lives.  We have a variety of friends and we rely on different […]

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