Calgarian says she’s forced to head south, pay $110,000 for brain surgery | Calgary Herald

Posted by Ravi Gulati | Posted in Financial Planning | Posted on 08-03-2015

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Before she was diagnosed with a rare tumour, Kristina Waldmann was completing an honours degree in psychology at the University of Calgary, volunteering at the Distress Centre and holding down three jobs.

But the 27-year-old says debilitating symptoms have forced her to stop working, studying and doing just about everything.

Waldmann’s parents have remortgaged their home as the young woman prepares for an expensive three-week trip to the United States in March for what she hopes will be life-changing brain surgery.

The surgery will not be covered by Alberta Health, meaning Waldmann and her family will be stuck paying a tab that’s estimated to be more than $110,000

via Calgarian says she’s forced to head south, pay $110,000 for brain surgery | Calgary Herald.

Burlington cancer survivor fears being homeless

Posted by Ravi Gulati | Posted in Financial Planning | Posted on 08-03-2015

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“Canadians generously donate to cancer research and charities that provide special vacations for sick children, but seem unaware of the everyday financial crises of many families dealing with cancer,” states the 2012 study entitled Financial Hardship of Cancer in Canada: A Call for Action.

via Burlington cancer survivor fears being homeless.

Most Canadians don’t have savings plans | Advisor.ca

Posted by Ravi Gulati | Posted in Financial Planning | Posted on 08-03-2015

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One of the simplest ways to save is by setting up an automatic savings program, so money automatically goes into savings without you having to think about it,” says Silvio Stroescu, managing director of deposits and investments at Tangerine.

via Most Canadians don’t have savings plans | Advisor.ca.

Understanding OAS and GIS clawbacks | AdvisorToClient

Posted by Ravi Gulati | Posted in Financial Planning | Posted on 08-03-2015

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OAS recovery tax

The OAS recovery tax can apply if you’re 65 and older and receive taxable annual income in excess of $71,592. For every dollar of income beyond that level, the 15% recovery tax reduces OAS benefits. The upper end for full clawback is $116,103…………

The Guaranteed Income Supplement (GIS) is administered alongside the OAS program, and is subject to recovery, but at a 50% rate. Full clawback of GIS (which is directed at alleviating poverty) occurs at a fairly low income level. For example, a single senior will receive no GIS if taxable income (not including OAS) is more than $17,087.99…………

 

via Understanding OAS and GIS clawbacks | AdvisorToClient.