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Middle-Old Seniors
75-84 Years Old

For "Middle-Old" seniors (75-84 years old), financial, social, and estate planning often transitions from purely active enjoyment to increasingly focusing on sustainability, potential care needs, and ensuring a smooth transition of their legacy. This age group may experience evolving health challenges and a potential shift in independence.

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Here's a point-form explanation of important planning topics:

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Financial Planning for Middle-Old

(75-84 Years Old)

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  • RRIF/LIF Management & Longevity:

    • Strategically managing RRIF (Registered Retirement Income Fund) and LIF (Life Income Fund) withdrawals to ensure funds last throughout their potentially longer lifespan.

    • Understanding the tax implications of mandatory minimum withdrawals and optimizing income streams.

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  • Managing Increasing Healthcare & Care Costs:

    • Anticipating and budgeting for higher out-of-pocket medical expenses, prescription drugs, and paramedical services not fully covered by OHIP.

    • Proactively exploring and understanding the costs of in-home care services, assisted living facilities, or potential long-term care homes.

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  • Asset Protection & Security:

    • Reviewing investment portfolios to ensure they prioritize capital preservation and provide reliable income, minimizing volatility.

    • Protecting assets from potential financial abuse or scams targeting seniors.

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  • Government Benefit Review:

    • Regularly confirming full entitlement to CPP, OAS, and GIS (Guaranteed Income Supplement) benefits, and ensuring all eligible tax credits are claimed.

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  • Debt Management Review:

    • Ensuring any remaining debts are manageable and do not pose a risk to long-term financial security.

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Social Planning for Middle-Old

(75-84 Years Old)

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  • Combating Social Isolation:

    • Actively seeking out opportunities to maintain social connections as friends and family members may pass away or move.

    • Exploring local senior programs, community centers (e.g., Friends Over 55 Recreation Centre), or virtual social groups.

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  • Maintaining Engagement Despite Mobility Changes:

    • Adapting hobbies and activities to accommodate any changes in physical mobility.

    • Exploring less physically demanding social or volunteer opportunities.

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  • Leveraging Family Connections:

    • Fostering strong relationships with children and grandchildren, and potentially relying on them for social interaction and support.

    • Discussing preferences for support and companionship with trusted family members.

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  • Accessing Community Support:

    • Becoming familiar with local services in Port Colborne and the Niagara Region that can assist with transportation, errands, or social outreach programs (e.g., Community Support Services of Niagara).

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Estate Planning for Middle-Old

(75-84 Years Old)

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  • Comprehensive Document Review & Updates:

    • Conducting a thorough review of all legal documents: Wills, Powers of Attorney for Property, and Powers of Attorney for Personal Care.

    • Ensuring these documents are still valid, reflect current wishes, and account for any changes in health or family circumstances.

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  • Detailed Executor Preparation (CEA Expertise):

    • Providing chosen executors (Estate Trustees) with highly detailed instructions, asset lists, and clear access to all necessary documents and information.

    • Discussing their roles and responsibilities in depth, anticipating potential complexities.

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  • Planning for Potential Incapacity (EPC Expertise):

    • Ensuring Powers of Attorney are robust and understood, to manage financial affairs and personal care decisions should incapacity arise.

    • Discussing preferences for care and living arrangements with attorneys.

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  • Long-Term Care Funding & Estate Impact:

    • Integrating discussions about potential long-term care costs into the broader estate plan, considering how care expenses might impact the final estate value.

    • Exploring options for how these costs might be covered without jeopardizing the entire legacy.

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  • Digital Estate Management:

    • Creating a comprehensive inventory of all online accounts, digital assets, and passwords, with clear instructions for access and management for executors.

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  • Finalizing Legacy & Charitable Intentions:

    • Solidifying any wishes regarding charitable donations, specific bequests, or other forms of legacy.

    • Ensuring these intentions are clearly documented in the will and communicated to relevant parties.

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As a financial professional, the privilege of serving seniors is profound. It's an opportunity to apply expertise where it truly matters, guiding individuals through critical life transitions like retirement, long-term care planning, and estate settlement. This role allows for the development of deep, trusting relationships, often spanning years, as you help them navigate complex financial landscapes to ensure their security and peace of mind. Witnessing the direct impact of sound financial advice on their quality of life, their ability to live independently, and the security of their legacy is incredibly rewarding. It's about more than just numbers; it's about honoring their lifetime of hard work and providing the dignity and support they deserve in their golden years.

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​Servicing clients in the following cities: ​​

Fort Erie, Niagara Falls, St. Catharines, Welland, Ontario, Wainfleet,

Port Colborne, Grimsby, Niagara-on-the-Lake,  West Lincoln, Pelham, Thorold, Hamilton, Waterdown, Burlington, Oakville, Brampton, Mississauga, Toronto, Greater Toronto Area, Barrie, Alliston, Innisfil, Niagara Region, Halton Region, Peel Region, Ontario

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