Stress-Free Retirement

You’re heading towards the next stage of life where you’re worrying less about your career and more about your future. You’ve been a diligent saver, regularly contributing to your RRSP and amassed a sizable nest egg for retirement. Now it’s time to turn on the tap and start to draw down your savings in a way that results in the least amount of taxation?

That’s where a RRIF (Registered Retirement Income Fund) comes in handy. A RRIF’s purpose is to draw down your savings in a tax efficient manner instead of accumulating them.

Reimagine Aging

Aging – Is it the worst of times or the best of times?

How many times have you heard “Do it while you’re younger”, “Enjoy it while you can” or “Don’t get old”? Advertising and social media practically shoves youth and vitality down the throats of all viewers. While aging definitely offers its own challenges but maybe it’s time to flip the story and look at it a little differently.

This is why the Centre on Aging is hosting a free six-week program to help individuals re-imagine their own aging. This program offers the opportunity to discuss the perceived negatives of aging, how they affect you and those in your circles and give ideas on how to challenge them.

When: Tuesdays

Time: 3:00pm

Start Date: January 24^th, 2023

End Date: February 28^th, 2023

To register for the program, sign up using the online form: https://bit.ly/3VFxbtc or call Dallas

Murphy at 204-474-8731. For more information, email: rethinkaging@umanitoba.ca.

Turn back the proverbial clock and celebrate your experiences!

In Sight – Top of Mind

You’ve all heard the old adage:  Out of sight, out of mind? Well, we recently decided to try the opposite with our fruit in the fridge.  Doug and I are working with Shauna Muldrew, Owner and  Health Coach of Infinity Health and Nutrition Coaching, to spruce up our eating and work outs and she suggested that we get the fruit OUT of the crispers and on a shelf in the fridge – RIGHT AT EYE LEVEL. I have also been placing apples, plums, peaches and oranges in a fruit bowl on the kitchen counter.  Lo and behold, because all these healthy goodies are now visible, the whole family is eating more fruit rather than reaching for processed snacks. You’re all familiar with those hangry times when you get home from a busy, stressful day and you just want to rip open a bag of chips?  I’m not saying that fruit cuts it over chips, but at least at our house, fruit is now the first thing you see when entering the kitchen or opening the fridge. This makes it soooooo much easier to grab a healthy snack. Anyone who knows us knows we love to chill in our living room and watch sports or movies.  We call our reclining seats Row 1 Seats 1 &2 for Jets games!  However, those food commercials on TV can be sooooo enticing. You can practically smell the aromas coming from the TV!  I now pre-wash and prepare strawberries and grapes.  They are ready to go! All we have to do is grab a bowlful and crunch down on some grapes.  The sweet crunchiness also satisfies the chocolate cravings. Making small, visible changes keeps us moving in the right direction. The same can be said for having a financial plan and meeting regularly with a financial planner. We now have a plan to increase our healthy snacks and it’s working. Having a financial plan with visible goals and objectives works the same way by keeping your finances In Sight and Top of Mind.

Struggling with Finances? You’re Not Alone

When you’re sitting at the table shuffling through a stack of bills, or you’re scared to check your email for fear of finding new bills, it’s easy to think you’re all alone.  It’s natural to become overwhelmed and believe there is no way to dig yourself out of your current position. This type of thinking plays directly into your perception of yourself and your self-worth.
Manulife has been studying the link between health and wealth since 2014. What they’ve found was in 2015, financial wellness was connected to productivity. In 2016, it showed that 40% of Canadians are financially unwell. I guess you’re not so alone after all…
In 2017, what has come to light through speaking with professional counselors is there are emotional barriers to financial wellness. People are embarrassed to share their financial woes, are ashamed and feel like they’ve failed. More than half the time people seek help, financial troubles are a part of it and only 1/3 of them see the connection between their financial struggles and their other challenges.
Financial worries can lead to physical manifestations of stress and create or amplify mental health concerns. This level of stress impacts the ability not only to be productive in the workplace, but sometimes to attend the workplace at all. In an average week, 500,000 Canadians miss work, and a whopping 30% of disability claims and 70% of disability costs are associated with mental health issues and illnesses.¹
Organizations have the opportunity to provide resources to help. With the right group benefits plan and provider, employees can have access to comprehensive health benefits which include both physical and mental programs. Many of these plans also promote financial well-being and preparedness.
YourStyle Financial is an independent group benefits consulting firm. We offer a range of services geared to help our clients maximize the strength of the dollars they spend on benefits. Schedule a lunch and learn today or contact us.

Investment Terms You Should Know

It’s always good to be well informed when dealing with your finances. Knowing these basics will help, especially if you are new to investing. What is a Financial Advisor? You want to get help with financial advice from a Financial Advisor, but who will you turn to? Advisors can specialize in different areas including investments, tax and estate planning and insurance or one Advisor can provide all of these combined services. Advisors can be paid by salary, commission, fees or a combination of commission and fees. Advisors work at banks, insurance carriers or independent firms and must be registered with an industry regulating agency. A good way to ensure you are dealing with a reputable advisor is to check out their credentials and experience.