Financial Plans Archives - Page 2 of 12

Older Canadians and Future Housing

Posted on June 9, 2017April 12, 2016 by Jordan Rumanek

Older Canadians and Future Housing

It is important to think about your future housing needs as you get older. There are several different kinds of seniors’ housing so you can find out what types of home support are available in your neighbourhood. At the same time, consider your current home to see if there are things you can do to make it easier and safer, as you get older. If you have a disability, you might be eligible for government assistance to pay for home renovations. You should also find out what kind of services are available in your community such as home support—you may want to ask your family doctor and/or someone you trust for any advice or guidance regarding support services. Researching and understanding your options will help you make future decisions about your housing. There are several different types of seniors housing and access to subsidized units for low-income seniors. You will have the option between independent living, retirement homes and assisted living, nursing homes or long-term care. You should compare costs and services offered in each setting.

Contact Rumanek & Company Ltd. for more information on bankruptcy and debt solutions. Or please fill out the free bankruptcy evaluation form. To learn more please visit our YouTube Channel. Rumanek & Company have been helping individuals and families overcome debt for more than 25 years.

Senior’s Planning For The Future

Posted on June 2, 2017April 12, 2016 by Jordan Rumanek

Senior’s Planning For The Future

Decreasing independence is not something that anyone likes to think about, but needing help making legal and financial decisions can happen at any time and for a wide range of reasons. If you’re a senior citizen, you should begin planning ahead for your future. If you get ill, have an accident or even if you are just away for a period of time, having someone you trust who is ready and able to help you can save time and trouble.

In other words, plan ahead, appoint a power of attorney and sign a power of attorney document. This is a legal document in which you name one or more people to be your attorney (decision-maker) to manage your financial affairs.

This is an important plan because you need someone you can trust to look after your affairs if you can no longer look after them yourself.

Older Canadians & Financial Abuse

Posted on May 26, 2017April 12, 2016 by Jordan Rumanek

Older Canadians & Financial Abuse

Taking precautions to avoid scams and frauds is another way to protect your assets against financial abuse. Hustlers are constantly coming up with new scams to deceive elderly people. It is important to never respond to e-mail, phone or door-to-door offers from people or groups you do not know. Most often, if an offer seems too good to be true, one can assume it is. Protect your personal information–reputable organizations will not e-mail, write or call and ask you to confirm information about your bank account or financial affairs. Financial abuse is illegal and/or unauthorized use of your money or property, or pressure on you for use of your money or property.

Unfortunately and sadly, abusers are often people in positions of power in your life, such as a family member, caregiver or someone you live with. If you think you may be the victim of financial abuse, a fraud or a scam, do not feel ashamed and you are not at fault–many people are in the same situation and it is important you do not stay silent. Tell someone you trust about what is going on and how you are being treated and take precautions. If you do not feel you can trust anyone or do not feel comfortable talking to someone you know, you can report financial abuse and/or fraud to the police.

Older Canadians & Financial Services

Posted on May 19, 2017April 12, 2016 by Jordan Rumanek

Older Canadians & Financial Services

The federal government has several benefit programs for individuals over 65 who have lived in Canada for over 10 years. However, you must apply for Old Age Security (OAS), Guaranteed Income Supplement (GIS), Spouse’s Allowance, Canada’s Pension Plan (CPP) and other federal programs. You will not receive them automatically! Because many programs use your income tax return to decide if you are eligible, you should file a tax return by April 30 each year. This will also allow you to claim a GST rebate and other refundable tax credits. Remember to notify Service Canada if anything changes in your life. For example, if you are receiving OAS, GIS, the Allowance or CPP and you move or your situation changes, for example, if your spouse passes away.

Tag: Financial Plans

Older Canadians and Future Housing

Older Canadians and Future Housing

Senior’s Planning For The Future

Senior’s Planning For The Future

Older Canadians & Financial Abuse

Older Canadians & Financial Abuse

Older Canadians & Financial Services

Older Canadians & Financial Services

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