Retirement: If you’re worried, you’re not alone
Retirement is supposed to be a time when we leave our worries at the doorstep and start enjoying life. But unfortunately, that’s not always the case. As The Oaken Financial Retirement Readiness Poll revealed, Canadians retired or approaching retirement are facing a lot of worries.
The poll, conducted by Ipsos Reid, interviewed Canadians 55 and older about a range of retirement questions. Among the findings:
- 57% say they’re worried they won’t have enough money when they stop working.
- 54% don’t know if they’re getting the best possible rates on their investment from their current financial institution.
- 93% are annoyed by bank promotions, such as limited-time teaser rates, that promise more than they deliver; nonetheless, 75% feel that switching financial institutions is a hassle that isn’t worth the effort.
Oaken doesn’t promise to solve everyone’s retirement problems. But we certainly do our best to help. As you probably know, our rates are consistently among the highest in Canada, and we never engage in misleading promotions.
We’re not retiring—we just turned one year old!
Tuesday, November 25, was the one-year anniversary of Oaken Financial! Thank you to all our customers and new friends we’ve met over the last year. We look forward to continuing helping you in the many years to come.
Location update: Toronto & Calgary
Our second year is shaping up to be even more exciting than the first, as we continue to improve on the ways you can interact with Oaken.
In early 2015, we’ll be opening up a brand new Oaken store in downtown Toronto. Situated in the PATH and easily accessible by public transit, it will offer a whole new experience including an interactive discovery wall for you to explore. We’ll keep you updated on the progress of this, and look forward to serving you in our new location soon.
In Calgary, we wanted to let you know that as from December 18, our new office address will be 507 – 10 Ave SW, Calgary, Alberta T2R 0A1. This space will also feature an Oaken store next Spring, but continue under the Home Trust name until then.
We enter the winter season still offering great rates, and to get everyone in the holiday season here’s a reminder that we’ve added a little extra something:
Until December 19, 2014, we’ve added an extra 0.25% to all our GICs, for the entire term!
This additional 0.25% will be automatically applied to all new and renewing GICs—which means our great rates are now even better. Remember to tell your family and friends, as we’re sure they’ll appreciate this Oaken “stocking stuffer” just in time for the holidays.
Retire to the couch for some winter reading
Winter is definitely reading season, so here’s our excuse for you to snuggle up on the couch with a mug of warm eggnog.
Get outside: 20 ways to enjoy the Canadian winter (none of them on skis). From the Canada Winter Games in Prince George, B.C. to skating on the Rideau Canal in Ottawa, there are events galore to get you outside this winter.
Watch for traps on high interest savings deals: Roseman. We’re not the only ones warning about bank offers that don’t deliver! A great article from the Toronto Star about asking questions, doing your research and not getting lured by interest-rate deals that aren’t all they’re cracked up to be.
Even the rich can qualify for Guaranteed Income Supplement – here’s how. An overlooked aspect of income planning in retirement could let you qualify for the Guaranteed Income Supplement. The Financial Post explains.