Employers must acknowledge the role of family caregivers to get a true picture of the costs of cancer care, according to a University of Alberta professor.
Janet Fast, a professor of department of human ecology at the University of Alberta, told the audience at Benefits Canada’s 2017 Employers Cancer Care Summit in February that the army of family and friends assisting patients with their everyday needs are an often-overlooked pillar of the medical system. Yet without them, the entire health system would collapse, she noted. Read more
Most people have at least one bad financial habit. Whether it’s impulse shopping, forgetting to pay bills on time or putting off building that emergency fund balancing what you want to do and what you “should” do is never easy.
You might recognize a few of these common bad financial habits in your life:
- Paying bills after the due date
- Paying only the minimum required on bills
- Ignoring bills and letting them go to collections
- Putting off saving for retirement or a rainy day
- Impulse shopping or “retail therapy”
- Not keeping track of how much debt you have
- Taking on debt to pay for something you don’t currently need.
As baby boomers approach retirement while their children look for financial help, many are feeling the financial strain.
A new TD survey found 62 per cent of boomers can’t save enough for retirement because they’re supporting adult children or grandchildren. Those kids, however, aren’t taking that money obliviously: 44 per cent of millennials who rely on their parents’ or grandparents’ support said they know that help means fewer retirement savings, and 43 per cent said they’d cut costs rather than asking for financial help.
“As a parent or grandparent it’s natural to want to help our kids and grandkids who may be facing financial challenges such as finding full-time employment or paying their day-to-day expenses,” Rowena Chan, senior vice-president at TD Wealth Financial Planning, said in a news release. “It’s important that this desire to help is balanced with the goals you have when it comes to retirement.” Read more
Whether you are decades away from retirement or if it is just around the corner, being aware of the planning opportunities will take the fear and uncertainty out of this major life event.
Blue sky your retirement plans to get clarity
As you approach retirement, preparation and planning become extremely important to help ensure that this period of your life will be as comfortable as possible. If you are like most, you have spent considerable time contemplating the type of retirement you wish for yourself.
- Is extensive travel your dream?
- Do you have an expensive hobby or two you want to take up?
- Will you stop working totally or continue to do some work on your own terms using your life experience and skills to supplement your income.
- Will you remain in your house or will you downsize to smaller, easier to care for premises? Or perhaps housing that will be more compatible with the challenges of aging?