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How much, or how little, does it take for things to go awry as we age? Deteriorating physical and mental health, loss of loved ones, social isolation, and the progressive inability to cope with daily tasks and challenges can make people dread the so-called "golden years" rather than embrace them.
Your golden years are about striking a balance between enjoying the free time you didn't have when you were younger and the challenge of living on a fixed income. Fortunately, the Canada Revenue Agency (CRA) has given seniors some tools to reduce their tax burden. But again, using these tools is a balancing act.