Living Long and Well- The Fear of Outliving Your Money

My goal this year is to help each and everyone of you with your financial future. This month, I have chosen to chat about the golden years and how home owners over the age of 55 can learn about their home equity and how they can put it to work in order to live the very best life they possibly can.

Learning more about longevity and how we can be best prepared for the physical, social, and financial impact of a long life is a hot topic these days.

When it comes to ageing, Canadians have much to celebrate, we are not only living longer, but we are also living longer in good health. Collectively, we are learning more about longevity and how we can be best prepared for the financial impact of a long life.

Medical advances, improved living standards and healthier lifestyles have all contributed to the gains. Also known as the golden years, the third age is for many a time of personal fulfillment and achievement.

An interesting aspect of successful longevity is that there are benefits of ageing at home in your community rather than in institutional setting. These years stand for dignity and creativity, as well recognizes the social importance and public significance for our ageing population.

With the golden year comes the fear of outliving our money, it has become a top concern for a lot of people. A significant portion of Canadians are relying almost exclusively on the Canada Pension Plan, Old Age Security, and Guaranteed Income Supplement. When you add all those up for most people, at the high end you are still looking at less than $20,000 a year. Does this sound like your situation by chance?

Cashflow can be a big concern for ageing Canadians especially with the cost of living today. Seniors that own their own home do have options to living a healthy, happy, dignified life by having the option to stay in their home if they wish to do so.

This may be the perfect time to learn about your personal financial situation and find out how your home equity can help you financially for years to come.

I am happy to help you have the best life possible, whether you would like help with your finances or any of your loved ones are fearful for their financial future, we are happy to connect you to a trusted advisor that can review your personal situation.

Regards,

Kevin D’Costa

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