10 Steps to Retire Without Debt

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Is Freedom 55 still a realistic goal? Perhaps Freedom 65 or 70 is more realistic? 

The number of Canadians who are retiring with debt has increased to 33% (Statistics Canada). In 2000, only 8% of retirees still had a mortgage; it is now 64%. There are many reasons for this significant increase in debt amongst retirees, but the consequences remain the same – a fixed income is needed to service living expenses along with debts.  

There is another alternative and that is to retire without debt. In the Retiring Without Debt workshop/webinar, you will learn how to:  

• Identify the reasons why more Canadians are retiring with debt; 
• Describe why retiring with debt is so challenging; 
• Identify the sources of income you will have in retirement (e.g. employment, Canada Pension Plan (CPP), Old Age Security (OAS), Guaranteed Income Supplement (GIS), pensions, and/or retirement savings; 
• Create a 10-step plan to retire without debt which will include: 
• Conducting a thorough analysis of your finances (income, assets, liabilities, debts, and expenses); 
• Triaging your finances by halting the use of credit, creating savings, and paying off debts; 
• Making changes for your future which could include reducing expenses, increasing income, and/or downsizing; 
• Deciding to stop helping adult children who may be impacting your ability to retire; 
• Talking to a professional to create a realistic plan; and 
• Take action with your plan and celebrate your success!
• Identify signs that you may need more help with your finances

This workshop is conducted by the Credit Counseling Society of BC.

For inquiries about this course, please call  1-888-527-8999 or go to https://nomoredebts.org/

Prerequisites

There are no prerequisites for this session. 

Who Should Attend

Anyone who is seeking a better understanding of how to manage their money.