More retirees are turning to reverse mortgages to help their kids with down payments. But is it worth the risk? – Globe and Mail, August 21, 2025
https://www.theglobeandmail.com/investing/personal-finance/article-retirement-reverse-mortgage-home-ownership/
Meera Raman discusses how “In a country where homeownership is often seen as a financial rite of passage, some Canadian parents are turning to reverse mortgages to unlock the value of their homes and gift the proceeds to family, often to be used for a down payment.” She points out that “Reverse mortgages often carry interest rates of around 7 per cent for a five-year fixed term, whereas a conventional mortgage is roughly 4 per cent.” No thank you!
What to know about credit card travel insurance as an Air Canada strike looms – MoneySense.ca, August 13, 2025
https://www.moneysense.ca/news/what-to-know-about-credit-card-travel-insurance-as-an-air-canada-strike-looms/
Reporters at the Canadian press reminded us last week that “As an Air Canada strike looms, credit card travel insurance may cover cancellations or delays—but only if you meet the policy conditions.” The strike may be over, but it’s always a good idea to have a handle on how your charge card company would handle a potential refund for a trip cancelled unexpectedly.
Cholesterol risk for female retirees is far lower than for men, but lifestyle changes still make a difference – source, Globe and Mail, August 19
https://www.theglobeandmail.com/investing/personal-finance/retirement/article-cholesterol-female-retirees-statins-health-lifestyle-diet/
Frederick Vettese is at it again … “Our previous chart showed the risk for men with elevated cholesterol levels. This week we are looking at the implications for retirement-age women.”
How financial journalists plan their own retirement – MoneySense.ca, August 13, 2025
https://www.moneysense.ca/columns/retired-money/how-financial-journalists-plan-their-own-retirement/
Jonathan Chevreau speaks “to Rob Carrick and other long-time writers about stepping back from full-time work.
I asked ChatGPT to predict my retirement and it helped calm my financial anxiety – Globe and Mail, August 15, 2025
https://www.theglobeandmail.com/investing/personal-finance/retirement/article-chatgpt-ai-retirement-financial-anxiety/
Zahra Khozema a personal finance freelancer “asked ChatGPT a question I couldn’t bring myself to ask a human: “Do you think I’ll be okay when I’m 65?”. After she received a response, she asked it to help her determine what her financial retirement future might be like. It had answers, of course.
“My Weekly Reads” are articles I have read throughout the week because they were of interest to me … for good, or for bad reasons. 🙂 Sharing them does not mean that I endorse them unless I explicitly state that. If concepts contained in the financial articles I share are of interest to you please remember that is always a good idea to ask your financial adviser’s advice when considering making changes to your financial portfolio or changing your spending habits.