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17_V1_WAT_Dec07 Looking for something NEW Picture Perfect Pennsylvania • Signature Tour COLUMBUS OH So Cool Wisconsin Dells & Chicago Done WRIGHT • Branson and the Great Outdoors Boston & Salem • "EATALY" Food Tour of Italy A Week in the Wild West • Zambia - African Safari Tour HOT OFF THE PRESS, our 2018 travel brochure is set to arrive in just a few weeks. Our fresh approach' means that most trips have been personally visited by us and ALL have been planned with YOU, the traveler in mind. Weekend Bahamas Cruise Feb 1-4 $439 (Inside cabin) + flight Myrtle Beach & Charleston Fieldtrip Mar 17-25 $1675 Picture Perfect PA (Fallingwater & Lancaster) Apr 22-26 $1350 (limited to 24 travellers) Weekend in Ottawa (VIA TRAIN) May 4-7 $949 Alaska Cruise with Denali Visit June 21-July 1 $3910 (oceanview cabin) + flight HIT MUSICAL 'COME FROM AWAY' Aug. 15 & 22 $179 (orchestra tickets) UPCOMING TOURS (prices are CDN $ based on 2 in a room) TICO #50021958 NOTICE: PROPOSED FEE CHANGES 2018 WATER SERVICES UTILITY RATES The Council of the Corporation of the City of Waterloo will consider proposed fee changes to the 2018 Water Services utility rates at a public meeting which will be held on Monday, December 11, 2017, at a time to be determined, in the Council Chambers on the 3rd Floor located at City Hall, 100 Regina Street South, Waterloo, Ontario, N2J 4A8. 2018 CEMETERIES, BUILDING STANDARDS AND MUNICIPAL ENFORCEMENT FEES The Council of the Corporation of the City of Waterloo will also consider fee changes to Cemetery Services, Building Standards and Municipal Enforcement on Monday, December 11, 2017 at the same meeting. For a full list of affected fees, the related staff reports will be available Thursday December 7th, 2017 in the Council Agenda package on the city website at waterloo.ca If you would like to appear before Council on December 11, 2017 regarding this matter, please contact Legislative Services at 519-747-8549 or clerkinfo@waterloo.ca no later than 10:00 am, December 11, 2017. Further information concerning Water Rates is available by contacting Michael Pugliese at 519- 886-2310 x30264. Further information on all other proposed fees, contact Angela Schneider at 519-747-8508. P. 519.886.1550 TTY. 1.866.786.3941 waterloo.ca/publicnoticesCAMBR IDGE CENTRE , 355 HESPELER ROAD, CAMBR IDGE , ONTAR IO, N1R 6B3 UP TO 90% OFF! 1000'S OF UNITS OF TOP NAME BRANDS JOSEPH RIBKOFF // FRANK LYMAN // CARTISE // BALI // DESIGUAL // PICADILLY // JS COLLECTION // TAHARI // ALISON SHERI // SIMON CHANG ACCESSOR IES PANTS SK IRTS TOPS JACKETS DRESSES EVEN ING DRESSES GOWNS OUTERWEAR from $ from $ from $ from $ from $ from $ from $ from $ from $ 9.99 19.99 19.99 19.99 29.99 29.99 49.99 79.99 99.99 BLOWO UTW A R E H O U S E DEC EMBER 7 TH- 1 7 TH Th ursday, December 7, 2017 • WATERLOO CHRONICLE • 17Serving your community since 1856 Most people know that they should be debt free by the time they hit retirement, yet many still carry large mortgages, lines of credit and other kinds of lever- age. According to Statistics Canada, 34 per cent of retired people over 55 are still carry- ing debt, while a 2017 Equifax Canada report found seniors are increasing their debt loads at a much faster pace than other Canadians. "� at's a problem for peo- ple who can't keep up with their debt load and are forced to curtail their retirement dreams," says Duane Bentley, Investors Group vice-presi- dent of banking and mortgage distribution. There are several rea- sons why seniors are in debt -- here are a few, along with strategies for dealing with them. Money pressures Many Boomers are still paying for their children, especially when it comes to housing. According to a 2015 survey by the Canada Mort- gage and Housing Corpora- tion, 18 per cent of � rst time homebuyers have their down payment paid through a gift from a relative -- usually a parent. Many young retirees are also caring for aging parents and that comes with both a financial cost and a time commitment. Less aversion to debt According to an Investors Group survey, 27 per cent of high net worth Canadians plan to have mortgages while retired -- and 67 per cent who have mortgages say they have the cash to pay them off in full. Part of the reason for this is that many Boomers are used to debt -- they've been borrowing money for decades -- and with low interest rates, they don't see the need to pay off their house before they retire. In some cases, they're being strategic, says Bentley. They may use a mortgage to acquire a second property without drawing down on their retirement savings. � at can be good strategy because withdrawing other assets, such as money from an RRSP, would trigger tax implica- tions. But it's a risky one. If you're making less money in retirement, you could have trouble paying your debts back, especially as interest rates rise. Pay attention to leverage Boomers need to manage their � nancial situation care- fully, as debt problems could force you to sell your home or compromise other plans. Continued on page 18 RUSS McEACHNIE MAKIN' MONEY Canadian retiring with debtCanadian retiring with debt BUSINESS