We spend much of our younger years saving for retirement so that we can enjoy our later years. On average, Canadians are living longer, which means more financial resources, and more careful management of financial resources, are required to ensure they last as long as you need them to. Once retired, older adults (and their caregivers) face the challenge of making a realistic budget based on fixed and often limited incomes, while juggling many priority expenses. Consider also the difficulty of navigating the various programs and services that are partially (or not) covered by insurance and governments, or the complex tax systems at different levels of government. We have compiled some resources and tools to help with your financial planning.
Managing your finances to enjoy a long and happy retirement
Featured Resources
- Blog Post: A nest egg for our old days: Helping older adults manage their finances
- Blog Post: Older adults increasingly targeted by fraud and scams
- Web Resource Rating: Making a budget
- Web Resource Rating: Managing multiple financial priorities
- Web Resource Rating: Four financial mistakes retirees regularly make
DISCLAIMER: These summaries are provided for informational purposes only. They are not a substitute for advice from your own health care professional. The summaries may be reproduced for not-for-profit educational purposes only. Any other uses must be approved by the McMaster Optimal Aging Portal (info@mcmasteroptimalaging.org).
Many of our Blog Posts were written before the COVID-19 pandemic and thus do not necessarily reflect the latest public health recommendations. While the content of new and old blogs identify activities that support optimal aging, it is important to defer to the most current public health recommendations. Some of the activities suggested within these blogs may need to be modified or avoided altogether to comply with changing public health recommendations. To view the latest updates from the Public Health Agency of Canada, please visit their website.
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Support for the Portal is largely provided by the Labarge Optimal Aging Initiative. AGE-WELL is a contributing partner. Help us to continue to provide direct and easy access to evidence-based information on health and social conditions to help you stay healthy, active and engaged as you grow older. Donate Today.
