I retired at 55 and after 2 years was so bored I decided to become a contract worker so that I could choose what I wanted to work on and how often. Best decision ever! It keeps me feeling good with great social interaction. Lucky that I don’t have to do it for the money but that social aspect and feeling like you’re contributing to something is worth so much more.
Every single financial advisors will tell you that you will live until your mid 90’s. This is BS. It is because they want to keep as much of your money under management collecting their commissions. I retired at 58, thanks to the higher interest rates I live off only the interest on my money. Also, although you might live well into your 90’s, you absolutely will not have the physical ability to do the things you want to do and if you want to travel, the insurance costs will be very high. Spend your money wisely while you still have a good health.
I just retired at 57 in June...so happy! A DB pension is key! I have additional investments and not one single debt. My financial planner found more money then I ever expected.
Worked for a large city. The time came just a few years pre-covid where "restructuring" arrived. Most of us 50 or over, females of a certain ethnicity were bought out. Then another program I worked for through regional government was "stream-lined". Some of us were not of a certain religion so "let go". All I can say is thank goodness for one of my children who has taken me in! Prices are so high, could not support myself anymore.
Your guest is wrong on several fronts. First and foremost, the life expectancy in Canada is currently (2022) 81.3 years, DOWN from 81.6 years in previous stats. It is the first time we've seen this decline, and the women in this discussion are actually unlikely to live to age 94, forget into their 100s. Second, she assumes that to have purpose and activity, you need a job. In fact, many people pursue fitness, sports, hobbies, and volunteer work outside of jobs that they actually hate. Most people do not have jobs that fulfill them or increase their longevity; occupation changing at age 65 to activities that DO provide fulfillment can increase longevity. She does mention travel; does she know anyone whose job is strictly travelling? She just sounds like a PCP propagandist trying to sell the retraction of OAS until age 67 (or beyond) that's going to happen when Poilievre comes into power. This policy affects only those who cannot afford to retire (let's call it freedom) without OAS. They will pay 10s of 1000s more dollars on taxes in those forced labour years than the carbon tax was ever going to cost them (and I don't support the carbon tax because it doesn't work).
I believe that the average life expectancy dropped recently primarily due to the pandemic health emergency and the impact it had both directly and on the health care system generally. Longer term I expect the average to continue it's upward climb.
@ddavidson5 Well, maybe, and most likely with the advances AI will bring to medicine. But the upper-middle-aged women in this chat are unlikely to reach age 94, and it's a dicey call for the younger ones, as well. Statistically, Canadian women right now live to just under age 84. Covid is only one factor affecting the past three years' decline in life expectancy: opioids are also affecting it, and they're not going away (just like Covid, which still takes increasingly thousands each year, rising to 20k in 2022 from 14.5k in 2021, just in Canada). In the past 20 years, women have surpassed men in lung cancer and heart disease diagnoses, and non-smoking women are at greater risk for these than are non-smoking men. Until we address environmental decay and a processed diet, AI will have a massive job to do, and it hasn't really started yet. I say go free (my new word for "retire") as soon as you can and reduce the risks that forced labour adds to your health challenges in older age. Take up those hobbies you've always wanted the time to pursue, and fight any government that tries to make the working poor shoulder the debt burden while the rich go free at younger ages.
@leeshgill87 Yes, but she focuses on the need to not retire from our jobs - the point of the whole piece is to make the fallacious claim that we're all living to over 90 now and must therefore work longer. Her points about purpose initially presuppose that purpose comes from work; when she realizes that's false, she talks about travel and hobbies, thus derailing the purpose of the whole interview, which is to promote the need for poor people to keep slaving away into old age. She contradicts herself. The whole thing is dumb and political.
You have to pay off debt, save money, it's OK to talk about working beyond 65 if you had a cushy job during your working years. I had 3 freinds didn't even make 65.because they were worked to death. Give me a break.
Yes, this woman is a journalist who was a CBC exec. She is likely writing her Toronto Star articles from home, on her own schedule, when she feels like it. Also, she has what is probably a part-time, remote job that brings her attention, money, and fulfillment, not like the jobs most people have to do. She's completely out of touch and doesn't recognize her privilege.
@MaryBoa-qc7wo It's a shame that you are so misinformed! Unless you have lived in a third world country you are not qualified to comment. I have lived and worked elsewhere, including in the third world!! If you'd like to see something like real Third World healthcare, you need only look or move to our first world neighbour to the south. For people who are not wealthy or covered by an employer paid health plan, the healthcare is way below the standards here. That's the closest to third world care that you'll experience living in Canada. Stop talking down what you don't understand or can't appreciate.
@@davidseemungal8921 Totally agree with you. For some reason people started commenting about living in Canada is living in 3rd world country. You have NO Idea how it actually is. I came form those countries and got appreciate so much what we have here in Canada. Be Greatful!
US healthcare is first rate... Whether or not you can afford it is the question! Access has improved since "obamacare" but affordability is still a major issue for many. And rural communities are struggling to keep or find providers.
Retirement means moving to a different country and living glamorous below
your needs.
I retired at 55 and after 2 years was so bored I decided to become a contract worker so that I could choose what I wanted to work on and how often. Best decision ever! It keeps me feeling good with great social interaction. Lucky that I don’t have to do it for the money but that social aspect and feeling like you’re contributing to something is worth so much more.
Every single financial advisors will tell you that you will live until your mid 90’s. This is BS. It is because they want to keep as much of your money under management collecting their commissions. I retired at 58, thanks to the higher interest rates I live off only the interest on my money. Also, although you might live well into your 90’s, you absolutely will not have the physical ability to do the things you want to do and if you want to travel, the insurance costs will be very high. Spend your money wisely while you still have a good health.
Yes the conversation around performance management does stop. Ageism does happen and did make me leave the work place.
I just retired at 57 in June...so happy! A DB pension is key! I have additional investments and not one single debt. My financial planner found more money then I ever expected.
You don’t need to work to have a purpose. Retirees do need to volunteer or have hobbies and sports but they don’t have to work necessarily.
Worked for a large city. The time came just a few years pre-covid where "restructuring" arrived. Most of us 50 or over, females of a certain ethnicity were bought out. Then another program I worked for through regional government was "stream-lined". Some of us were not of a certain religion so "let go". All I can say is thank goodness for one of my children who has taken me in! Prices are so high, could not support myself anymore.
I totally understand you.
Your guest is wrong on several fronts. First and foremost, the life expectancy in Canada is currently (2022) 81.3 years, DOWN from 81.6 years in previous stats. It is the first time we've seen this decline, and the women in this discussion are actually unlikely to live to age 94, forget into their 100s.
Second, she assumes that to have purpose and activity, you need a job. In fact, many people pursue fitness, sports, hobbies, and volunteer work outside of jobs that they actually hate. Most people do not have jobs that fulfill them or increase their longevity; occupation
changing at age 65 to activities that DO provide fulfillment can increase longevity. She does mention travel; does she know anyone whose job is strictly travelling?
She just sounds like a PCP propagandist trying to sell the retraction of OAS until age 67 (or beyond) that's going to happen when Poilievre comes into power. This policy affects only those who cannot afford to retire (let's call it freedom) without OAS. They will pay 10s of 1000s more dollars on taxes in those forced labour years than the carbon tax was ever going to cost them (and I don't support the carbon tax because it doesn't work).
I believe that the average life expectancy dropped recently primarily due to the pandemic health emergency and the impact it had both directly and on the health care system generally. Longer term I expect the average to continue it's upward climb.
Yeah, sounds off…
@ddavidson5 Well, maybe, and most likely with the advances AI will bring to medicine. But the upper-middle-aged women in this chat are unlikely to reach age 94, and it's a dicey call for the younger ones, as well. Statistically, Canadian women right now live to just under age 84. Covid is only one factor affecting the past three years' decline in life expectancy: opioids are also affecting it, and they're not going away (just like Covid, which still takes increasingly thousands each year, rising to 20k in 2022 from 14.5k in 2021, just in Canada). In the past 20 years, women have surpassed men in lung cancer and heart disease diagnoses, and non-smoking women are at greater risk for these than are non-smoking men. Until we address environmental decay and a processed diet, AI will have a massive job to do, and it hasn't really started yet.
I say go free (my new word for "retire") as soon as you can and reduce the risks that forced labour adds to your health challenges in older age. Take up those hobbies you've always wanted the time to pursue, and fight any government that tries to make the working poor shoulder the debt burden while the rich go free at younger ages.
She does mention having a purpose doesn't exclude a passion project so it isn't all about working to find your purpose.
@leeshgill87 Yes, but she focuses on the need to not retire from our jobs - the point of the whole piece is to make the fallacious claim that we're all living to over 90 now and must therefore work longer. Her points about purpose initially presuppose that purpose comes from work; when she realizes that's false, she talks about travel and hobbies, thus derailing the purpose of the whole interview, which is to promote the need for poor people to keep slaving away into old age. She contradicts herself. The whole thing is dumb and political.
Except the life expectancy in Canada decreased 2-3 years since lockdowns.
Unless you're a drug addict that shouldn't affect you.
sounds pretty depressing - I certainly don't want to work into my 80s, even if I live to 100
You have to pay off debt, save money, it's OK to talk about working beyond 65 if you had a cushy job during your working years. I had 3 freinds didn't even make 65.because they were worked to death. Give me a break.
Yes, this woman is a journalist who was a CBC exec. She is likely writing her Toronto Star articles from home, on her own schedule, when she feels like it. Also, she has what is probably a part-time, remote job that brings her attention, money, and fulfillment, not like the jobs most people have to do. She's completely out of touch and doesn't recognize her privilege.
Not fox news that's for sure..
❤
The good healthcare comment lol. Clearly she HAS no idea we are third world healthcare now
She clearly is a person with at least a degree of money and privilege - it seems likely that she can afford access to private healthcare.
@MaryBoa-qc7wo It's a shame that you are so misinformed! Unless you have lived in a third world country you are not qualified to comment. I have lived and worked elsewhere, including in the third world!!
If you'd like to see something like real Third World healthcare, you need only look or move to our first world neighbour to the south. For people who are not wealthy or covered by an employer paid health plan, the healthcare is way below the standards here. That's the closest to third world care that you'll experience living in Canada. Stop talking down what you don't understand or can't appreciate.
@@davidseemungal8921 Totally agree with you. For some reason people started commenting about living in Canada is living in 3rd world country. You have NO Idea how it actually is. I came form those countries and got appreciate so much what we have here in Canada. Be Greatful!
US healthcare is first rate... Whether or not you can afford it is the question! Access has improved since "obamacare" but affordability is still a major issue for many. And rural communities are struggling to keep or find providers.