A critical illness can be costly and could sideline your financial plans

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Being diagnosed with a critical illness can be devastating in so many ways. Taking time off from work for treatment and recovery, lost income and higher than expected medical bills can have a significant impact on one’s finances, lifestyle, and planned savings strategies. The expenses could involve travelling for treatment, buying medication not covered by the provincial health plan, getting extra help around the house, or making home renovations for accessibility. We often assume that as one gets older, the ...

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June 2017 Moir Team Newsletter

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We hope you enjoy our newsletter below and we welcome your comments and feedback. If there are topics you’d like to see addressed in future issues, please let us know.

Save the date: early September, 2017
An Estate Planning Seminar – I’m participating in a panel presentation with Rachel Blumenfeld, LLB, Partner, Aird & Berlis, and Resa Eisen, MSW, Co-Founder, Essential Conversations. Roxana Tavana, LLB, Managing Director, Scotiatrust is our Panel Moderator.

Planning one’s legacy is such an important topic that is ...

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Factors Other Than Money to Consider about Your Retirement

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bev-moir-toronto-investment-advisorAs you may know, many of our clients are five to fifteen years away from retirement. We keep a keen eye open for relevant retirement news and perspectives. On Thursday April 6, 2017, Ian McGugan published just such an article in the Globe and Mail, titled “The best investment for retirement? Try marital counseling and a home miles away from your kids.”

Here’s a ...

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Alain de Botton: “Why You Will Marry the Wrong Person”

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Sadly, finding the right partner and staying together is unlikely according to the author of this article. That’s because we look for “perfect complementarity” rather than “tolerate differences with generosity” per Alain de Botton, author of “Why You Will Marry the Wrong Person”, published in the New York Times.

He has a point as Canadian statistics show that a high proportion of ...

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Foreclosures can happen with reverse mortgages

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Guy Dixon, The Globe and Mail
Published Monday, Feb. 20, 2017 12:00PM EST

Anything that sounds easy comes with risks. And one risk of using a reverse mortgage to pay for retirement, albeit a rare risk, is foreclosure.

Reverse mortgages are advertised as a way to draw money out of your home for retirement, an alternative to selling the home or taking out a loan, such as a home equity line of credit. With property prices so high, accessing some of ...

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A Portfolio is No Place for Emotions

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GAIL JOHNSON, Special to The Globe and Mail
Published Monday, Feb. 13, 2017 7:00PM EST

Managing Your Wealth
We may be living in a ‘scary time,’ but financial advisors urge investors to avoid knee-jerk reactions

Given the headlines coming out of the United States these days, some people may be tempted to think their money would be better off under their mattress than in stock markets that are subject to global unrest.

Consider a conversation that Bev Moir, director and senior wealth ...

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Word on the Retirement Street

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Toronto Star July 16, 2016
JACLYN TERSIGNI SPECIAL TO THE STAR

Don’t believe everything you hear when making decisions for the years ahead

A 2015 survey by Sun Life found that only 27 per cent of its 3,000 respondents expected to be fully retired at age 65.

Retirees have no shortage of advice on how to save and plan, but it can be hard to separate the truth from misconception.

Many retirees pick up, or go back to, a long-lost hobby, which could ...

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Managing Stock Market Volatility

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An opportunity to reflect on some key market statistics arises now that we’re mid-way through 2016.

So far, the price of oil (WTI) has risen from the low of $28.00 /bbl in January to nearly $49.00/bbl today, a significant increase. Canada is currently one of the global stock market leaders. The S&P/TSX return of 7.6% year to date compares very favourably against the S&P 500 return of 1.79% for the same period. Not bad for a year ...

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Decumulation and retirement tips

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How do you help a retiree who is in the decumulation phase of life? Advisor Group’s Editorial Advisory Board provides insights

Retirees need to identify their wishes to PoAs and executors, including what’s going to happen if they’re incapacitated. And they should keep their financial information current, documenting bank accounts, investment accounts, pension accounts and other relevant financial statements. This could be as simple as a Word document that gets updated every six months or year, summarizing where the will is ...

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