Canadians aged 65 and older outnumbered children under 14 for the first time in census history, Statistics Canada revealed today. And the majority of seniors are women. Among those aged 85 to 99, there were just 54 men for every 100 women in 2016, data show. Those numbers have big implications for how women should handle their personal finances. While Canadians of any gender are facing the prospect of living longer after their working years, for women the post-retirement... [read more]

Phyllis Mahon was in her late 50s when she went looking for a smaller, more manageable home in a quiet community. She wanted a place where she could share her interests with like-minded people, and still have plenty of space to walk her dog. Her search brought her to the Sandycove Acres retirement community in Innisfil, Ont., about 100 kilometres north of Toronto, with heated outdoor pools, minigolf, a games room, shuffleboard and a library. To say she’s satisfied with the move would... [read more]

When Nancy Semkin began planning her early retirement from the corporate sector in 2009, she knew the next phase of her life was going to look markedly different. Semkin, who lives in Toronto, had enjoyed a long, fulfilling career as a director of leadership development in human resources at RBC. "I have no regrets," says Semkin. "But there was a further need I knew was not being met." For years, Semkin had pictured herself immersed in humanitarian work. With family... [read more]

We may be living longer than previous generations, but our health isn’t any better, and with more Canadians retiring later in life, these health issues are getting worse. Though they have fewer disabilities than earlier generations, the majority of Canadians have at least one chronic disease or health condition, according to “Healthy Aging in Canada,” a briefing paper the Public Health Agency of Canada prepared for an intergovernmental committee. Part of the problem, the... [read more]

Make one or two mistakes in handling your retirement money, and you could be paying a stiff penalty later in your life. The stock market goes up and down, but you’ll survive if you stay clear of these common mistakes: Obsessing about market losses. Focus instead on long-term needs. Catastrophic events and long-term health care needs cause as much damage when you’re caught unaware as does a shaky stock market. Will your nest egg be able to handle long-term care? Forgetting... [read more]