Aging in Place: Financial Planning Resources

Planning to age in place isn’t just about renovations or hiring care. Too often, people focus on the visible fixes and skip the financial planning, the part that actually determines whether aging in place is affordable.

Without the right structure, you can end up with a renovated home you can’t afford to live in. That’s why we start with your finances: to give you freedom, stability, and peace of mind for the years ahead.

This page brings together some of the practical planning strategies we use with clients, as well as direct links to federal and Ontario programs you can access right now.

Use these resources to guide conversations with your own advisor or to start planning.

 
 
 

Here are some of the strategies we use with clients:

  1. Income Splitting
    Use pension income splitting or spousal RRIF withdrawals to reduce household taxes.

  2. Tax Efficiency
    Draw from the right accounts in the right order (RRIF, non-registered, TFSA) to keep taxes low.

  3. TFSA as the Last Bucket
    A surviving spouse can take over a TFSA tax-free, helping avoid a large estate tax bill. TFSAs also pass directly to beneficiaries tax-free.

  4. Balanced Asset Allocation
    Keep your portfolio safe, income-generating, and liquid enough for emergencies.

  5. Lifestyle Cash Flow
    Structure investments so your cash flow matches your needs, not just market performance.

  6. Annual Reviews
    Adjust for inflation, health changes, and new government benefits.

  7. Continuity of Advice
    Work with someone long-term who knows your story. Many of my clients have been with me for 15–22 years, and I’ve been at family meetings advocating for their wishes.

 

Resources From the Aging in Place Talk

Home Accessibility Tax Credit (Federal) – Claim up to $10,000 in renovation expenses for accessibility.

Ontario Seniors Home Care Tax Credit – A refundable credit up to $1,500/year for eligible home care costs.

Ontario Senior Homeowners’ Property Tax Grant – Up to $500/year.

Ontario Electricity Support Program (OESP) – Monthly bill credits.

Low-income Energy Assistance Program (LEAP) – Emergency utility bill help.

 
 
 

Aging in place takes planning.

If you don’t have an advisor who offers this kind of planning, or if you’d like a second opinion, I’d be glad to talk with you about your options.

Click below to schedule a 15-minute consultation at a time that works for you. There’s no cost or obligation.

Book Your 15-Minute Call
 

Tools and Guides We Share With Clients

Monthly Expenses Tracking Sheet
A simple worksheet we use with many new clients to spot gaps and opportunities.
Download

Who We Work With
Learn more about the types of clients we serve and how our approach may fit what you’re looking for.
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Beyond Investments Booklet
An overview of the full range of services we provide: financial planning that extends well beyond portfolios.
Flip through

 

Vanessa Benedict, CIM, CIFP, BSc(Hons)
Wealth Advisor, Portfolio Manager