Take time deciding on retirement, buyout offers

Toronto Star, James Daw

Tens of thousands of Canadians will be wading into unfamiliar tax territory as jobs disappear and companies try to nudge older workers out of the workplace.

They may have to make fast decisions while under stress. “A job loss or retirement is a significant life event,” warns Toronto financial planner and chartered accountant Cynthia Kett of Stewart & Kett Financial Advisors Inc.

She advises anyone in this situation to start by looking at their expenses, obligations and sources of income before making decisions that have tax implications.

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