Look for a retirement financial planner who works with retirees and understands the cost of care, not just investing. A Certified Financial Planner (CFP) has broad training, and many specialise in retirement income, estate questions and funding care. Ask directly how much of their work involves older clients and families planning for home care or retirement living.
How a planner is paid shapes the advice. Fee-only planners charge for the plan itself and don't earn commission on products. Others earn commission on investments or insurance, or mix both. Neither is automatically wrong, but you should know which you're getting. In our experience, families facing care decisions get the clearest advice from a fee-only planner.
Markham families often have particular questions. Many homes have grown a lot in value, so the choice to sell, rent, or borrow against the house matters. Multigenerational households may share costs across siblings or generations, and planners can help make that fair and documented. Some families want a planner who speaks Cantonese or Mandarin, so parents can join the conversation fully, and Markham has many who do. Planning is a private-pay service, and a good plan will also check which benefits your parent already receives or may qualify for.
Prioritise a written plan that compares care costs, such as home care or a retirement residence, against pensions, savings and home equity over several years. Ask for it in plain language. Our recommendation is a fee-only CFP who has worked with care decisions before. The trade-off is that you'll pay a visible fee upfront, rather than costs built into products. Families also compare planners in Richmond Hill, Vaughan and Toronto.
