The fact that 70% of a person’s after tax income disappears to pay for Assisted Living is difficult to swallow. But what if the bad news doesn’t stop there? Here’s a news letter that highlights the potential financial landmines so that elderly people and their families can be better prepared to deal with them:

http://www.bclocalnews.com/vancouver_island_central/
nanaimonewsbulletin/opinion/letters/64322432.html

A smart alternative is to shelter the income from the taxman (i.e. make sure it is non-taxable income). To make an appointment to talk to a CFP to discuss whether this option is available to you, click here

Assisted Living, non-taxable income Hide