92 - Planning Your Retirement in Canada

Retirement isn’t the same as it was in our parents' day. Declining workplace pension plans and the increased lifespan of Canadians are factors that need to be taken into account when planning. When you start saving and investing can make a difference in how much retirement income you will eventually have access to. But wherever you are on the scale, retirement planning can provide you with an outline of where you want to go and how you’ll get there.

How prepared are you for your retirement? Are there things you can be doing now to compensate for the loss of your income in the future?

Bonnie Hooley answers these questions and more. She discusses:

• How the inflation rate affects retirement income
• Having debt when you retire
• Health insurance, life insurance and estate planning
• Making lifestyle adjustments - living on 70% of your income
• Clearing up debt before retirement
• Talking to an expert sooner rather than later

Speaking with a Licensed Insolvency Trustee ensures that you are getting the best qualified advice. They are federally regulated and licensed by the Canadian government and will give you information you can trust.

Bonnie Hooley has worked in the insolvency field for over 40 years. She attained her Licensed Insolvency Trustee license in 1999 and is the Past President of the Manitoba Association of Insolvency and Restructuring Professionals (MAIRP). Over the years, she has served on various boards within her community.  

• LCTaylor Licensed Insolvency Trustee
• The Senior Citizen Debt Crisis: How to Cope With Debt in Your Golden Years
• What Options Are There for Seniors in Debt?