old age security

A picture of a house to denote that you can have a reverse mortgage in you own your home.

A Reverse Mortgage, Is it Worth it? Retirement financing options for seniors

A reverse mortgage, is it worth it? It is an interesting question. Reverse mortgages are definitely on the rise. There are now many commercials airing on TV stating the merits of getting one. But what is a reverse mortgage? Who is eligible? What are the pros and cons? Is it worth it? What is a …

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A picture of a person holding money to highlight the one time payment for older seniors will be paid out starting this week.

One Time Payment for Older Seniors Starts This Week (Government of Canada)

Starting this week, a one time payment for older seniors will be sent out by the Federal government. The amount of this payment is $500.00. This payment is taxable. What are the criteria for receiving this payment? One Time Payment for Older Seniors – Criteria The government of Canada’s website lists two criteria for seniors …

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A picture of senior to denote the governments measures to provide additional support for seniors during covid-19

Additional Support for Seniors During Covid-19

On May 12, 2020, the Canadian Government announced additional support for seniors during covid-19 to help them offset the increased cost of living resulting from the pandemic. Also announced was measures to help seniors deal with isolation and improve their quality of life. Finally, there was an extension of payments and allowances for seniors. Let’s …

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