In push to pay down mortgage, couple nearing retirement has let investments, savings languish

financial post

Near a small town in Ontario, a couple we’ll call Bonnie, 49, and Oscar, 55, are raising their six-year-old child. Bonnie runs a small marketing business and brings home $5,747 a month. Oscar, a retired civil servant, has take-home pension income of $4,240 a month. They add $800 a month rental income from an apartment in their home and will receive about $60 a month from the non-taxable Canada Child Benefit, for total monthly income of $10,847 after tax. Their two older children, ages 19 and 21, live on their own with some financial assistance from the parents.

Click here to continue reading

Avatar

About Benoit Poliquin

Contact Benoit Poliquin

Exponent Investment Management