Alberta couple’s costly fleet of seven vehicles leaves retirement plans in neutral

This is the story of an Alberta couple fallen on hard times. Now 59, Jesse, as we’ll call him, was a computer consultant with his own company. Due to a heart condition, he has been unable to work for eight years, and his company is now worth nothing. He has a disability benefit from a private plan that pays him $2,400 per month. Jesse’s spouse, who we’ll call Miranda, also 59, formerly an administrator in Jesse’s company, has been on disability herself for a year and receives $1,200 per month from the Canada Pension Plan. Adding up disability payments and other benefits and Miranda’s small draw from her RRSP, they have $5,340 after tax each month. Read More

from Personal Finance – Financial Post

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