The changing of the colours during the Fall season in Algonquin Park is such a great and marvelous spectacle that is music for the eyes. There are two peaks in the colours, the first one is when the maple canopies turn red and then the leaves fall and the yellow ones show their beauty.
Highway 60 is a sure place to look at the marvel of nature, though it gets tricky with so many drivers passing by at high speeds.
From Toronto is just over two hours to get there. Before entering the park there are two great places to enjoy the reflections on still waters so watch out for what catches your eye and imagination.
As pictures paint a thousand words, there is no need to describe this beauty. Just enjoy the first peak when red is the preferred colour!
Canoeing and staying in the different wood cabin lodges is one of the greatest pleasures for Torontonians, Ontarians and Canadians alike.
We would like to highlight an article in the National Post as of May 3, 2014 with data source presented by Clay Gillespie, a Royal Group Financial Advisor and Managing Director. With a simple graph, it is easier to digest the information and though some of the assumptions may need to be reviewed for each particular case, it gives a clear picture of the amount of funds needed for a basic lifestyle in retirement.
The following assumptions were considered:
(1) retirement age of 65
(2) portfolio 60% equity & 40% fixed income
(3) maximum OAS $522 per month
(4) average CPP $633 per month
(5) income indexed at inflation rate.
In short, if you would like to have a $50,000 yearly income once you turn 65, depending on your life expectancy you will need savings at that time of $302,000 to reach age 75, $506,000 to age 85 or $582,000 to age 90.
If you aspire to have a yearly income of $70,000, when you turn 65 you will need to have accumulated $471,000 to reach age 75, $788,000 to age 85 or $906,000 to age 90.
There are many other aspects we all need to include and it is important to take into consideration the tax exemption provision of the principal residence. As Real Estate Prices have been continuously increasing over the past 12 years, there has been a good portion of home owners who decided to cash out and benefit from price appreciation avoiding capital gain tax, which may be considered double dipping. A little newspaper clipping from this week's activity may trigger some thoughts.
Often times we get carried away by the day to day responsibilities and do not take a moment to plan for the future.
Regardless of what stage of our lives we are in, if you have not done so, this may be the opportunity to start thinking and doing something about it, as time really flies.