Author: minaseddighfinancial-com

As many of my clients approach retirement, I often emphasize the importance of maintaining a dedicated cash reserve. Having at least six months of income in accessible cash isn't just an entrepreneur's rule—it's a practical strategy for anyone nearing retirement. This cushion can help you navigate unexpected health expenses, home repairs, inflation surprises, or market downturns, all without needing to alter the retirement plan you've worked so hard to build. Some financial experts even recommend setting aside up to twelve months of essential expenses for greater flexibility and peace of mind. I encourage separating this cash buffer from your daily accounts, keeping it liquid in savings accounts, money market funds, or short-term CDs—prioritizing access and principal protection over chasing higher yields. In the five years leading up to retirement, it's wise to review your reserve annually and use it as a safeguard to avoid selling investments during turbulent times. Thoughtful preparation today can bring real confidence for the years ahead.

Labour Day in Canada marks a well-earned break celebrating workers and the unofficial end of summer, when everyone suddenly remembers all the things they meant to do in August.
It’s the last big excuse for barbecues, lake trips, and squeezing in one more summer adventure before routines and school schedules take over again.
Stores and sidewalks feel a little calmer, while patios and parks get their final big rush of summer energy and “just one more weekend” vibes.
Happy Labour Day! Wishing you a relaxed, fun-filled long weekend with good food, no alarms, and maximum enjoyment before fall shows up uninvited.

Many Canadians rely on bank advisors, but clients are urged to examine how compensation, incentives, and sales targets may shape recommendations offered.
An advocacy group for older Canadians says advice can limit choices when advisors are restricted to a bank's own products rather than wider options.
The group highlighted a recent regulatory finding: close to 25% of in-branch advisors admitted not acting in clients' best interest at times.
It argues small return differences can compound into major retirement losses, and is pressing for greater transparency plus real best-interest standards across Canada.
The group says its $19.95 membership supports advocacy, education, and regulatory efforts aimed at financial security, health, and dignity for aging Canadians.

In Canada, partners file taxes individually, so retirement-plan withdrawals are taxed in the retiree’s bracket, even when the other partner still earns salary.
Before age 65, general withdrawals from registered retirement accounts usually cannot be split with a working spouse, limiting bracket-balancing strategies during early retirement.
Household income still matters: a working partner’s pay can reduce income-tested senior benefits, while tax-free savings withdrawals can support cash flow without reporting income.
For smoother transitions, couples may review workplace health coverage and, if room remains, keep contributing to a spouse’s retirement plan for deductions.
After 65, eligible pension income may be shared for tax savings, and delaying public benefits can raise payments over time, reaching ~35% more by 70.