Thrifty Tuesdays helps you save money!
Retirement may be five or fifty years away and most people work with the expectation that they will one day retire and enjoy their golden years exploring hobbies, helping family, or travelling. But what if that is impossible because you mismanaged your money during your working years or you didn't realize how little you received from your retirement benefits.
You might also want to register for Living on a Retirement Income (April 18) to help you live when your income is reduced.
Join us and the Credit Counselling Society for a presentation to different ways to eliminate debt so you can enter retirement without the worry that comes from a reduced income. Gain skills you probably didn't learn in school, but will use for the rest of your life!
This workshop is perfect for anyone who is currently working with the intent to have an enjoyable retirement in the future. Few people intend to work from cradle to grave.
From the presenter
Is Freedom 55 still a realistic goal? Perhaps Freedom 65 or 70 is more realistic. The number of Canadians who are retiring with debt has increased to 33% (Statistics Canada). In 2000, only 8% of retirees still had a mortgage; it is now 64%. There are many reasons for this significant increase in debt amongst retirees but the consequences remain the same – a fixed income needs to service living expenses along with debts.
There is another alternative and that is to retire without debt. In the Retiring Without Debt workshop, you will learn how to:
- Identify the reasons why more Canadians are retiring with debt;
- Identify the sources of income you will have in retirement (e.g. employment, Canada Pension Plan (CPP), Old Age Security (OAS), Guaranteed Income Supplement (GIS), pensions, and/or retirement savings;
- Create a 6 step plan to retire without debt which will include:
- Conducting a thorough analysis of your finances;
- Triaging your finances by halting the use of credit, creating savings, and paying off debts;
- Making changes for your future which could include reducing expenses, increasing income and/or downsizing;
- Deciding to stop helping adult children who may be impacting your ability to retire;
- Talking to a professional to create a realistic plan; and
- Take action with your plan and celebrate your success!
This is a 90 minute workshop that is fun and interactive! We take a “grab and go” approach – grab an idea or two and go try it. All participants will walk away with ideas, resources and the full curriculum upon request.
For more information, visit the Credit Counselling Society's website to view free webinars on various financial topics.
Free, but seating is limited. Programs with low enrollment may be cancelled, so please register by phone at: 604-522-3971, in-person, or online.
If you cannot attend the program, please contact the Library so someone else can have your spot. Thank you.