SnowbirdAlert Source: www.newscanada.com SpringtimeSnowbirdChecklist Go to the doctor Get those pre-existing medical conditions under control and work with your doctor to make any necessary adjustments to your medication as soon as possible. Get followup tests and procedures scheduled, so that you have a clear 90-day stability period before you head south in the fall. While you’re there, make sure that all of your vaccinations are up to date! File your 8840 Form When you fulfil the requirements of the substantial presence test, you can be treated as a resident of the United States and be taxed by the IRS on your worldwide income. Declare your closer connection to Canada by completing the IRS 8840 Form and sending it in. Update your Personal Health Record When you or your spouse are dealing with a medical emergency either away or at home, you don’t want to run around looking for prescription medication bottles or be concerned with an accurate recollection of what year or instance in which either of you received medical treatment. Write it down now, while you have time and presence of mind, and keep it in a handy spot – such as on your fridge – for quick and easy access, should the time ever come at which you need to answer medical questions quickly. Renew your CSAMembership Support the only organization that actively lobbies governments in Canada and the United States to protect and defend the snowbird lifestyle. Note: 8840 Form, Personal Health Records and CSA Membership renewal can all be easily accessed at www.snowbirds.org Three tips to help retirees managemoney Managing money doesn’t come easily for everyone. And, as you get older, retirement can present new challenges for finances as your circumstances change. Here are some tips to help you make sense of your bills and keep on top of your money as you enjoy your golden years. 1. Re-evaluate your priorities As you grow older, it’s important to regularly re-evaluate your financial priorities and look ahead. Are there expenses you’re hanging on to that you don’t need, such as an expensive cable TVpackage or perhaps a second or third vehicle? Cut the financial fat that doesn’t make sense for you now, rather than hanging on to it just in case. Paying bills for something you value, whatever it is, and not for things which you don’t need or care about will improve your quality of life now and in the future. 2. Ask for help if you need it Many Canadians canmanage their monthly bills, budgets and spending well into their 80s. But, whenever the time comes that you’re struggling to make sense of payments, or you’re getting behind on bills, it’s important to ask for help from a trusted friend or family member. You may have been brought up to be independent, but your financial future is worth swallowing your pride. No one will think less of you. 3. Keep it simple Whether you have a highly detailed system to manage your money or you’re much more haphazard, it’s in your best interest to keep things straightforward. Close out unnecessary bank accounts and think about consolidating debt – you want a system that is both easy for you to follow and for someone to pick up down the line, if needed. At the same time, follow what works best for you. If you’re technology-savvy and struggle with due dates, try automating some or all of your monthly bill payments – that way, you’ll always pay recurring bills on time. On the other hand, if you don’t trust online banking or you find the internet too costly, confusing or inaccessible, it’s okay to stick with paper bills that come in the mail, where that option exists. In fact, this year, the Canadian Radio-television and Telecommunications Commission mandated that customers who are older than 65, or who don’t have internet or mobile data, or who self-identify as someone with a disability, must be able to receive paper bills from their communications provider at no charge, upon request. You can learn more about the new rule at crtc.gc.ca/paperbilling or 1-877-249-2782 (CRTC). How to protect yourself from fraudsters targeting seniors From telephone calls to suspicious e-mails or text messages, fraudsters take advantage of the pandemic to prey on consumers’ fears, often targeting seniors. But, like the old saying goes, “If it seems too good to be true, it probably is.” It’s important to be very cautious when receiving any kind of message that appears to be from a bank or financial service asking for personal or financial information. No matter how official it may look, Canadian banks do not ask for this kind of information by e-mail or text. Staying in touch with your local branch is a safe way to verify your concerns. If you suspect that a call, e-mail or text is not legitimate, call your branch and let them know. Here are some tips from the Financial Consumer Agency of Canada regarding what else you can do if you think that you may have been the target of financial fraud: ▶▶ Change your online banking and e-mail account passwords. ▶▶ Ask the bank to place a fraud alert on your account. ▶▶ Review credit card and bank statements for unknown charges or ask a trusted loved one to do so. ▶▶ Order a free credit report and carefully check for anything unusual. ▶▶ Contact the Canadian Anti-Fraud Centre at 1-888-495-8501. Find more information and resources to protect yourself at canada.ca/money. 6 | www.snowbirds.org
RkJQdWJsaXNoZXIy MzMzNzMx