Maybe, as a kid, you looked for empty pop bottles in fields and empty lots, loading them up on your wagon and rolling over to the A&P for a cash refund – two cents for the standard bottle, and a whopping nickel for the big ones.

Or, perhaps you’ve saved up your empties and returned them to the beer store or bottle depot for a little cash.

Did you know that a use for those empties is helping charities? Save with SPP had a look around to see what good your empties can bring to others.

The group Boston Terrier Rescue Canada (BTRC) operates bottle drives in Ontario, Alberta, B.C., Quebec and Nova Scotia.

“Empties help fill bellies and pay vet bills,” the group notes. “In 2023, BTRC Team Empties volunteers raised $6042.65 by returning empties for deposit.”

“We are challenging people and businesses everywhere to start a #Recycle4Animals drive to collect refundable items in their area. It’s a cost-free way to raise money to help Boston Terriers while also protecting the environment,” the group notes.

The group’s website offers a list of locations where bottles can be either dropped off, or where pickup services are available, and contact details to find out more.

The folks at Empties for Paws want to “challenge Canadian residents and businesses to donate their empty alcohol containers to raise money to help local animal charities.”

Their website provides listings “of as many bottle drives as possible” across Ontario, and all profits from these efforts go to helping animals. Some of the bottle drives are carried out by the rescue organizations themselves, in other cases, donors arrange to have their empties picked up and cashed in for the charity.

“In Ontario, empty beer bottles and cans can be returned via the Deposit Return Program (through beer stores) for 10 cents each, making your empty two-four worth $2.40, which is also the average cost of a tin of wet cat food.” Imagine, the website asks, how much cat food and care could be provided if more people donated their empties.

Another example of empties in action is Ottawa-based BottleWorks.

“BottleWorks offers residential home pick-ups for Ottawa residents looking to donate their empty alcohol bottles, cans, and containers. BottleWorks can issue a tax receipt for the value of the bottles donated and you can feel good knowing that your empties are helping charity and supporting youth facing barriers to employment gain paid work experience, develop skills, and receive support to make a brighter future for themselves,” their website notes.

The group received a whopping 1.08 million empty alcohol containers in 2023, employs 15 young people, has 143 commercial partners, arranged 563 residential pickups and organized 20 bottle drives, the website adds.

So, if you are finding a growing collection of empties in the garage that you haven’t found the time to return, consider finding a charity in your area – they may not only be able to take those empties off your hands, but they’ll also put the money from them to good use.

We used to pick up empties when we walked the dogs in the park each morning. We’d put the money from that into our retirement piggy bank, along with things like money from scratch ticket wins and other loose change. When the bank got heavy, we’d take it to a coin counter, deposit the bills in the bank, and then make a contribution to our Saskatchewan Pension Plan accounts.

SPP took those hard-earned savings and invested them in their low-cost, professionally managed pooled fund. Both of us are now in receipt of lifetime monthly annuity payments from SPP! Another option is the more flexible Variable Benefit, but both options add up to retirement income you can use and enjoy!

Check out SPP today!

Join the Wealthcare Revolution – follow SPP on Facebook!

Report recommends we work until 67 before retiring

It’s not necessarily the news we all want to hear, but a new report from the C.D. Howe Institute is suggesting that – for retirement, at least – 67 should be the new 65.

The report’s findings were the subject of an article in the Saint John Telegraph-Journal.

“One of the review’s co-authors admitted that one of their key recommendations would be unpopular – changing pension rules so that older Canadians would have to slog it out longer,” the Telegraph-Journal reports.

C.D. Howe Institute’s Parisa Mahboubi tells the newspaper that “the government needs to inform the public about the benefits of increasing the retirement age.”

“Research shows that people are living longer and are healthier than previous generations, allowing them to contribute more. And if you compare the financial situation of older individuals today, compared to 20 years ago, in terms of the assets and debts that they have, many, many older workers today may need to work longer,” Mahboubi tells the Telegraph-Journal.

Other countries, the article continues, are moving their retirement dates to a later age to address factors like increased longevity. France, the article notes, moved their retirement age to 64 from 62, and Italy from 62 to 63 “before backing down and introducing other incentives to make people work longer.”

In Russia, women are retiring at 60 instead of the previous 55, and men at 65 instead of the previous 55, the article reports.

On the overall scorecard of the 38 most developed nations, the article notes that Canada is in the middle on retirement age and the start of government retirement benefits.

The C.D. Howe report cited early retirement incentives as a reason older workers are leaving their jobs at a time when the employment rate is in decline, the article notes.

“Consider this: Canada had half a million job vacancies in the latter part of 2024, most of them full-time (432,810 positions),” the article notes. “Nearly one-third of those postings were persistent and still available after 90 days.”

“At the same time, the employment rate declined to 61.3 per cent in 2024, down from 62.2 per cent the previous year,” the Telegraph-Journal adds.

Encouraging older people to work longer would address these issues, the study’s authors suggest. The article lists these C.D. Howe Institute recommendations:

• Raising “the normal retirement age” to 67 and delaying pensions until then.
• “Supporting older workers with flexible work, part-time options, and self-employment, especially in the Atlantic provinces.”
• More job training, especially in technology.
• “Streamlining credential recognition and licensure” for skilled immigrants.
• Enhancing settlement strategies for immigrants, including “workplace-focused language training.”

The article concludes with a final thought from Mahboubi – “I’m talking about jobs for some individuals that can change. Part-time jobs or jobs that don’t require significant physical activity, yes, why not? We need to be realistic about the challenges our economies will face with aging and make sure we don’t fall behind other countries.”

On a personal note, we were excited to start our Saskatchewan Pension Plan (SPP) annuity effective May 1, 2025. Our decision to go ahead and select the annuity at this time was based on a number of factors, such as the fact we won’t have a lot of RRSP room in 2025 and beyond, and that markets have been uncertain. We wanted the income certainty of the annuity option, with 100 per cent benefit of the payment continuing to our surviving spouse, because her mom just celebrated her 93^rd birthday. So the little boss will be around for a long, long time.

Check out SPP to learn more about their annuity options and the other choices you can make at retirement, including the more flexible Variable Benefit.

Join the Wealthcare Revolution – follow SPP on Facebook!

Reaction to America’s decision to place tariffs on imports from other countries – including Canada – is still playing out, with start dates announced, paused, re-announced, changed, and so on.

But the reaction in Canada at talk of annexing our country has sparked consumer boycotts of U.S. products and has prompted many to cancel plans to make vacation visits south of the border. Save with SPP decided to take a look to see how these protests are going.

The BBC reports on the case of Nova Scotia’s Todd Brayman, “who is no longer buying his favourite red wine, which is from California.” He’s drinking Canadian wine instead.

“I have in my life served alongside American forces. It is just profoundly upsetting and disappointing to see where we are given the historical ties that our two countries have,” Brayman, an armed forces veteran, tells the BBC.

“But I think right now it’s time to stand up and be counted, and in my mind, that means buying local and supporting Canadian business,” he tells the broadcaster.

He says he uses an app called Maple Scan to identify Canadian products in stores. “Other apps include Buy Canadian, Is This Canadian?, and Shop Canadian,” the BBC reports. The Maple Scan app has had more than 100,000 downloads since it was launched this spring, the report adds.

The Daily Upside notes that Canada imported $350 billion (US) worth of American products last year, making the U.S. “Canada’s largest trading partner.”

Already, orders from U.S.-based diaper manufacturers and fruit growers have been reduced or cancelled outright, the publication reports. And after U.S. alcohol products were largely removed from Canadian retail outlets, states like Kentucky, which produces “95 per cent of the world’s bourbon,” are feeling a pinch.

“The loss of business has sparked growing concern in the (bourbon) industry, which was already on uneven footing before the trade war,” the Upside reports.

“In January, Brown-Forman — the publicly traded maker of Jack Daniel’s, Old Forester, and Woodford Reserve — said it was cutting 12 per cent of its 5,400-strong workforce and selling a barrel-production facility, in search of $80 million in annual savings,” the article adds.

Canadians are thinking twice about U.S. vacation plans, reports the CBC.

“The number of return trips among Canadians travelling to the U.S. in March plummeted compared to the previous year: down by 13.5 per cent for air travel, and down by a whopping 32 per cent for land travel,” the CBC reports.

“Reasons for the drop in travel include the low Canadian dollar and anger over U.S. President Donald Trump’s trade war. Another reason gaining ground: concern over beefed up border security following Trump’s pledge to crack down on immigration,” the article adds.

The Daily Mail notes that Canadians spent $20.5 billion on US vacations last year.

“Even a 10 per cent dip could wipe out $2 billion in economic activity and cost 14,000 jobs, according to the U.S. Travel Association,” the newspaper reports.

“With the latest car and air travel figures pointing to even steeper declines, the impact could be closer to $4 billion,” the article concludes. “Tourist hotspots that rely heavily on Canadian visitors, such as Buffalo, New York and Old Orchard Beach in Maine, will be hit hardest.”

We’ll all have to keep an eye on this situation, and hope that it can somehow be resolved or at least made more predictable. Until then, that vacation to the East Coast or that long-desired visit to relatives in Saskatchewan will move up on our priority list.

If you’re saving for retirement, an all-Canadian pension plan to partner up with is the Saskatchewan Pension Plan. SPP is open to any Canadian with available RRSP room. You decide how much you want to contribute to your savings, we’ll take on the more difficult job of investing your savings in our low-cost, professionally managed pooled fund. When it’s time to turn savings into income, you can choose between such options as a lifetime monthly annuity payment, or the more flexible Variable Benefit.

Check out SPP today!

Join the Wealthcare Revolution – follow SPP on Facebook!

Saving a dime from every dollar is still good advice: The Motley Fool

Our late Uncle Joe sat us down, years ago, to go over the retirement plans we had drawn up for the missus, his niece.

In that long conversation about retirement savings, avoiding debt, and living within one’s means, he told us his main strategy was to put away 10 cents of every dollar he earned. He was still doing this into his late 80s.

Is this a good strategy? The folks at The Motley Fool sure seem to think so.

“Estimating your retirement needs can be complicated, so it’s not surprising that people look for mental shortcuts to make it easier. One of these shortcuts says you should save 10 per cent of your annual income for retirement,” their article begins.

The article says that the average U.S. full-time worker earns about $62,000 US, or just under $90,000 Canadian.

“Saving 10 per cent would look like saving $6,200 annually, or about $517 per month. How much this is worth by your retirement depends on how long you save and your average annual rate of return,” the article explains.

If you were to save that $517 each month at a six per cent interest rate, the article suggests, you’d have $34,973 after five years, $81,774 after 10, $340,379 after 25 and $960,143 after 40 years. That’s about $1.3 million Canadian.

“There’s a lot of variance here. A person able to dedicate $517 per month toward retirement from their earliest days in the workforce who earns a high annual rate of return on their savings could wind up with a substantial sum for retirement. But this isn’t the reality for a lot of people,” the article explains.

Younger people, the article explains, are usually struggling with student debt and living costs while getting their first paycheque, likely at an entry-level job. For those starting late, “we can see that it’s much more difficult to retire on the nest egg they get from saving 10 per cent of their income per year.”

If you are starting late, the article suggests, maybe you should be aiming at saving 15 per cent of your income each year.

“If you can’t find a savings amount that works for you right now, you may have to consider delaying your retirement date. This gives you additional time to save while also reducing the length and cost of your retirement,” the article explains.

“Once you’ve settled on a plan that works for you, do your best to stick to it. Automate your retirement contributions where you can so you don’t forget them and remember to increase your retirement deferrals whenever you get a raise,” the article concludes.

It can seem impossible to get started on a “pay yourself first” strategy. A couple of tricks we learned along the way included the concept of banking your raise. Say you are making so much a year, and you are managing the bills, and then get a three per cent raise. Put the difference between your old paycheque and the new one in the bank and keep going as before.

The missus always has banked any money she gets from dental or vision claims, treating it like it was a small lottery jackpot.

If 10 per cent is too big an amount, try something less. Even one per cent directed to savings will add up over time. Increase that one per cent when you can.

If you are a member of the Saskatchewan Pension Plan and want to forecast what your savings might look like over time, check out SPP’s Wealth Calculator. This handy tool shows what you will get if you keep contributing at the same rate – and you can see what would happen if you bumped things up a bit.

Check out SPP today!

Join the Wealthcare Revolution – follow SPP on Facebook!

It’s an age-old question – is it better to focus on paying off your debt, or should you make saving money for the future a higher priority?

Save with SPP took a look around the blogosphere to see how the experts are weighing in on this topic.

At Forbes magazine, writer John Egan calls saving versus paying down debt “a balancing act that many of us face.”

His article suggests that the answer to that question “depends, in part, on whether you’ve already got enough money stashed for emergency savings, and how much high-interest debt you’re carrying.” For some, the answer may be a “balanced approach” where you are doing both things – saving and paying down – at the same time, he continues.

His article quotes Kansas City-based certified financial planner Dan Mathews as saying that you also have to look at the “opportunity cost” in this situation.

Huh?

“If you’re likely to earn six per cent in annual returns from retirement savings, but you’ve amassed credit card debt with an APR (annual percentage rate) of around 18 per cent, your best bet likely will be to first clear out the debt. Why? Because paying 18 per cent credit card interest will more than cancel out the six per cent you’ll earn from your savings,” the article explains.

The article suggests that you set up an emergency fund – enough to pay for six months of living costs – first. Then, when taking on debt, the article recommends that you “first pay attention to high-cost debt without any collateral, such as high-interest credit cards or a high-interest personal loan.”

If any of your debts are overdue, they should have super-priority, the article adds.

For saving, the article suggests that you focus your efforts on tax-efficient savings. Here in Canada, that would be contributing to a registered retirement savings plan or registered pension plan, or a Tax Free Savings Account. The point Forbes makes is that these accounts, in addition to offering you investment returns, will also offer you tax savings.

At Sun Life Canada, the authors suggest that if your debts are so bad that you can’t make the payments, a debt consolidation loan may be a first step.

But when tackling debt, the article suggests, there are some strategies to consider.

“It’s best if you pay off debt with the highest interest first,” the article advises. This, the article continues, usually means credit cards, and if you ignore them, “it will end up costing you dearly in interest.”

“Let’s say you make only the minimum payment (3.5 per cent) on a $5,000 credit card debt. You would end up paying $3,992.03 in interest over 187 months, or 15.6 years,” the article warns.

Sun Life also makes the same point about focusing your savings plan on tax-deferred or tax-free vehicles, like RRSPs and TFSAs.

The article gives the example of Chantal Pelletier, who has a mortgage she began four years ago at a rate of four per cent. The article suggests that investments in her RRSP and TFSA are a better choice than focusing on paying off the mortgage.

“Her investment earnings are also tax sheltered. And they would grow through the magic of compound interest, which is interest you earn on interest. In Chantal’s case, she’s better off saving for retirement, using registered investments. That’s a better strategy for her situation than paying off her mortgage faster,” the article concludes.

The folks at Nerdwallet see a hybrid approach as the best bet.

“Paying off debt can feel like it has to be your only priority,” their article begins. “But you should do some saving while you’re paying down debt. Even a small cushion of emergency savings can keep you from going deeper into debt when an unexpected expense pops up. And you don’t want to miss out on free money from an employer match on retirement savings if it’s available.”

That’s a good point – if your employer has a retirement program of some kind, be sure to take part, because you’ll get a tax deduction for contributions and as well, there may be an employer match to increase your savings rate.

The article suggests a “50/30/20” budget approach – this means half of your money goes on “needs, 30 per cent on wants, and 20 per cent on savings and debt paydowns beyond minimums.”

Your savings should operate under a “pay yourself first” method, where money earmarked for savings is “directly deposited… into a savings account.” This is better, the article continues, than hoping you’ll have something left over after the end of the month to put into savings.

The message thread that is clear from reading all these articles is that you need to be on top of both your debts and your savings assets. All three articles recommend a budget that sets out how much you want to save but also how much extra you want to pay on your debts. No matter how you target debt – smallest balance first, or highest interest rate first – the idea is that when one debt is paid off, the money you were paying for it should be applied to the next high-priority category.

Another point that you pick up from reading these articles is that you should always direct something – even a small amount – towards long-term saving. You can, the articles all say, ratchet that amount up when debts begin to clear up.

The Saskatchewan Pension Plan offers you a lot of much-needed flexibility on your savings efforts. Unlike other pension plans, SPP allows you to decide how much you want to contribute. You can increase or decrease your savings rate as you see fit. SPP will do the hard work of investing your savings via a professionally managed, low-cost pooled fund. And at retirement, your options include getting a set monthly annuity payment for life, or the more flexible Variable Benefit, where you decide how much you want to take out (or leave in).

Check out SPP today!

Join the Wealthcare Revolution – follow SPP on Facebook!

Is 70 the new 65? Canadians are retiring later: Global News

Regina’s Diane Clark tells Global News that retirement is not working out the way she planned it.

“We don’t travel anymore, we don’t buy as good of food as we used to buy, basically, and we stick at home a lot,” the 75-year-old tells Global News. Her pension investments took a big hit in the 2008 credit crisis, the broadcaster reports, and that plus post-COVID inflation has cramped her retirement income and lifestyle.

Asked what she would advise others to do, her answer was simple – “save, save, save,” Global reports.

Recent research from CIBC shows that more Canadians – perhaps mindful of the fact that a dollar doesn’t goes as far as it once did – are planning to exit the workforce later than planned, Global notes.

“About 66 per cent of Canadians are changing their plans for when they retire,” the Global article notes. “As a result, some retirees are looking to save more, while those already retired told CIBC they’re cutting back on planned travel or leisure activities, reassessing investments and adjusting their budget.”

So what can soon-to-be-retirees learn from this?

Global talked to CIBC’s Jamie Golombek, who suggested people should develop “an actual budget, and part of that budget should include retirement savings and making sure we’re taking advantage of all the different registered plans.”

If savings don’t generate enough income, work becomes less likely to become a thing of the past, the article continues.

The CIBC research found that “70 per cent say they anticipate having to work during their retirement either through a phased or semi-retired approach, with some working well past the retirement age of 65,” Global reports.

Other options, Golombek tells Global, include part-time or “gig economy” jobs.

Many older Canadians worry about having to depend on their adult kids in their later years.

“They’re absolutely terrified about outliving their savings and becoming a burden on their family,” Rudy Buttingol, president of the Canadian Association of Retired Persons (CARP), tells Global News.

CARP, the article says, wants to see the current registered retirement savings plan/registered retirement income fund rules become more flexible. The current rules, the article explains, “force some seniors who are still working to receive income that would better benefit them later in life.”

Bonnie-Jeanne MacDonald of the National Institute on Ageing is quoted in the article as noting that those who wait until 70 to collect their Canada Pension Plan and Old Age Security benefits will get a higher monthly amount.

“If you wait from age 60 to age 70, you’ll more than double this pension, which is guaranteed for life, it’s inflation indexed and it’s … a great deal when you do the math. It’s almost like an arbitrage opportunity because the incentives are so good,” she tells Global.

Members of the Saskatchewan Pension Plan have an option of interest to those who don’t want to draw down their retirement savings until later in life. With the Variable Benefit, you get “control over how much retirement income you wish to withdraw throughout the year,” with the rest of your funds continuing to be invested in either SPP’s Balanced Fund or Diversified Income Fund.

Check out SPP today!

Join the Wealthcare Revolution – follow SPP on Facebook!

Whether it’s money problems, weirdness at work, relationships going wonky or what have you, other people can bring you down.

In her book Let Them, author Mel Robbins provides a seemingly simple way to turn the situation around.

She begins by discussing the “5 second rule,” a coping strategy she developed during tough times with employment and money. “I was paralyzed by my own thoughts, and the last thing I wanted to do was get up and face another day,” she writes. But, she thought, why not try a NASA-style countdown – 5, 4, 3, 2, 1 – and then “launch myself out of bed.”

This little trigger helps you “take action before hesitation kicks in.”

And while the “5 second rule” helps trigger you to take action, Robbins searched for a way to address things like fear of failing, being “nervous about taking a risk… why do I have a hard time asking for what I need? What exactly is in my way?”

Her research found that for most of us, “struggling to change your life, achieve your goals, or feel happier… the problem isn’t you. The problem is the power you unknowingly give other people.”

“You make the mistake of thinking that if you say the right thing, everyone will be satisfied. If you bend over backward, maybe your partner won’t be disappointed. If you keep the peace, maybe your family will stop judging your choices,” she rights.

The solution, she says, to “driving yourself crazy trying to manage or please other people,” is “Let Them.”

“Let Them be grumpy. It’s not your problem,” she writes, Let Them “have their opinions… they don’t change who you are.”

“The more you let other people live their lives, the better your life gets,” she explains.

The book is filled with anecdotes to illustrate how simple idea works, and how liberating it is. “Let my family be late to absolutely everything we go to,” she writes. “Let Them leave dishes in the sink. Let my mother-in-law disagree with my parenting.” The list is exhaustive.

But “Let Them” is just half of the toolkit, she writes. “There is a second, critical part to the theory – Let Me.”

“That’s why the theory only works if you say both parts. When you say Let Them, you make a conscious decision not to allow other people’s behaviour to bother you. When you say Let Me, you take responsibility for what YOU do next,” she explains.

“Let Me immediately shows you what you can control…. your attitude, your behaviour… your values, your needs, your desires, and what YOU want to do in response to what just happened,” she writes.

In a chapter on stress, the book explains how the Let Them/Let Me tool can help you overcome it. “Stress causes you to doubt yourself, procrastinate, burn out, doom scroll, and struggle with comparison,” she warns.

In a chapter on dealing with difficult people – those who have negative opinions about you or your work, for example – the Let Them tool reasserts the idea that “adults are allowed to think whatever they want,” so fearing that sort of criticism “is a complete waste of time.”

“Let Them go silent. Let Them erupt. Let Them play the victim. Let Them sulk. Let Them deny that it happened. Let Them make it all about them,” she writes.

“Then, Let Me…. be the mature, wise, and loving adult in this situation. Let Me decide if I want to address them directly or not at all,” she advises.

It can help with “comparison” issues, where we feel inferior in appearance, wealth, or athleticism.

“There are two different types of comparison that people engage in – torture or teacher,” she explains. “Torture… is when you find yourself obsessed over, caught up in, or beating yourself up over something that you will never be able to change.”

Instead, “use comparison to your advantage” and learn from what others have done right. “Let it fuel your own journey. Other people’s success is evidence that you can do it too…. And build the extraordinary life you deserve.”

Closing chapters of the book use the techniques for such topics as restoring old friendships, creating new ones, embracing change, and helping others heal from downturns in life.

Robbins concludes by noting “you’ve always been in charge. You’ve always had the power. Now, it’s time to take it back.”

This is a well-written, well-researched book that is fun to read and even a little empowering. A good addition to your personal library, as we all go through periods of self-doubt and need to re-ignite our energy.

The Saskatchewan Pension Plan is a great savings partner in your dream of building up a retirement nest egg. If you aren’t sure how to invest in today’s turbulent markets, let them do the heavy lifting for you. SPP’s investments are professionally managed in a low-cost, pooled fund – and at retirement, you’ll choose among options such as a lifetime monthly annuity cheque, or the more flexible Variable Benefit.

Check out SPP today!

Join the Wealthcare Revolution – follow SPP on Facebook!

In the U.S., these millionaires see no need to retire

We all imagine the dream of suddenly having millions in the bank — and being able to instantly leave the workforce for a life of travel, leisure and fun.

But according to Business Insider, there are more than a few folks south of the border who – despite already having made those millions – plan to keep working into their 80s and beyond.

What? Let’s hear out their thinking.

“Many older Americans continue working into their retirement years, even though they’re millionaires,” the Business Insider article begins. And while many keep working “for financial reasons,” others just “want to keep their minds fresh and social lives full,” the article continues.

Jack Bishop, an Air Force vet and five-decade veteran of the restaurant industry, says he could have retired early, but chose not to. “My plan was to be retired at 55, but I felt like I was in my prime, and we were doing great,” Bishop tells Business Insider. “I wanted to keep my mind alive.”

Lawyer and real estate investor Michael Mosher, 74, is still hard at work running his 300-acre ranch in Texas, the article notes.

“You need to do something productive that engages your mind and body,” Mosher tells Business Insider. “As long as my brain holds up and my back and knees don’t go away, I’ll be a lawyer or rancher. I have the ability now to control my docket with the lawyer part so that I can run the ranch and not vegetate.”

Florida’s Anne Sallee tried retirement, but re-entered the workforce in her 60s, the article tells us.

“I consulted for free and volunteered in my community, but I can vividly remember the first time the doctor’s office asked me if I was retired, and I said yes. It was a painful moment,” Sallee tells Business Insider. She returned to the workforce after a two-year hiatus and now works as her city’s economic development coordinator.

“I had to be up and dressed at a desk at 8 every morning, which was a shock to my system,” Sallee states in the article. “I was used to a little more flexibility in my day, but I’ve been here now two years, and I absolutely love it.”

Deb Whitman, the American Association of Retired People’s chief public policy officer, tells Business Insider that “the number of people 55 and older who work or seek work is twice as high as in the 1990s, with Americans overall working longer.”

“One thing you’re seeing about people working longer is this fear of holding onto the job that they have because they might have lost one before or fear that they’ll be pushed out any day,” Whitman tells the publication.

We would estimate that about half of our old high school classmates, now in their mid-60s, are still on the job. The rest are either fully or semi-retired, doing other things. Building a retirement savings nest egg is certainly a factor in figuring out, one day, whether you can ease out of full time work into a part-time or consultant-type role – or to volunteer, or learn something new.

A great savings partner to know about is the Saskatchewan Pension Plan. With SPP, you decide how much to save, and how to get the savings to us – it can be preauthorized contributions from your bank account, it can be by cheque, it can be by a lump sum transfer and it can even be via credit card. We’ll take care of your money’s future by investing it in a low-cost, professionally managed pooled fund. When it’s time to ease out of your role, you’ll have income options that include a lifetime monthly annuity payment, or the more flexible Variable Benefit.

Check out SPP today!

Join the Wealthcare Revolution – follow SPP on Facebook!

First, it was one class a week. Then two. Then three. Some of our friends are doing four and even five.

We are talking about time in line dance classes throughout the week, including time we are instructors. And the classes are bursting out of the door. What’s the draw for happy seniors to be doing all this dancing?

Save with SPP took a look around to see what folks are saying about the benefits of dancing.

According to Yahoo Life UK, a new study from Northeastern University in Boston has found “that just 20 minutes of dance each day could help you hit your recommended exercise target.”

That’s any kind of dance, the article notes – the point is that you are being active.

And there are other measurable health benefits, the article continues.

A UK study found “moderate intensity dancing is linked to a lower risk of cardiovascular disease.” Mental health, the article continues, also benefits.

“Not only can dancing help you keep fit, it has a wide range of mental health benefits. If done in a social setting, dance can help improve connections and reduce feelings of loneliness and isolation,” the article notes.

Dance also helps your brain, the article adds.

“In addition to its mood-boosting effects, dancing can also promote learning, memory and navigational skills. One study suggested that a 30-minute salsa class boosted spatial working memory by 18 per cent after just one session,” the article reports.

“Dancing has even been linked to a lower risk of dementia, with a 2003 research paper published in the New England Journal of Medicine finding that regular dancing reduced the risk of dementia by 76 per cent,” the article concludes.

The Everyday Health blog lists a few more benefits.

“Dancing can be many things: An expression of art, a fun hobby, a representation of culture, and a great form of exercise,” writes Leah Groth.

Dancing, which the article refers to as “the ultimate workout” helps build core strength.

“Dance requires balance and helps build core strength, which helps promote good posture and prevent muscle injuries and back pain, according to the Mayo Clinic,” the article reports. Ballet, the article continues, is particularly ideal for core strength.

Another dance benefit, the article notes, is flexibility. “Many forms of dance stretch the limbs of the body, which improves flexibility,” the article adds. Again, ballet does this the best, the blog notes.

If you are looking to drop a few pounds, dance can get it done for you, the blog tells us.

“Depending on the style of dance and your bodyweight, 30 minutes of dancing can burn between 90 and 252 calories, according to the Harvard Medical School. This type of high-intensity calorie burning can help support weight loss if you’re trying to shed pounds,” the article explains.

The Myacare blog suggests that there are many overall benefits from dance.

“Aside from improving both mood and cognition, dance is known to enhance several other aspects of one’s mental-emotional health. Life satisfaction increases through practicing dance, as does one’s confidence, connection to self and ability to socialize. Genetic studies reveal that dancers have elevated levels of active genes that regulate serotonin and vasopressin expression, both of which make them far more social,” the article notes.

It also, the article states, is a way to age gracefully.

“In a meta-analysis that aimed to assess the benefits of dance for the elderly, it was shown that dance of any style is able to improve metabolism and balance in aged individuals, with or without chronic illnesses. Most data included interventions that spanned a length of 60 minutes, three times a week for a minimum of 12 weeks.”

When we talk to our fellow line dancers about why they like it, they hit most of these points. One dancer says she has no problem jumping in the car to drive to dance class – but it is more of an effort to make the trip to the gym. We are all making new friends and going to new places through dance, she says.

Retirement is a great time to take up new hobbies, like dancing. So it’s important for those of us who are not yet retired to build up some savings to fund the fun of our future selves.

If you have a workplace retirement program, be sure to sign up and contribute as much as you can. If you don’t, not to worry – the Saskatchewan Pension Plan has everything you need. You provide the savings, and SPP will invest them in a low-cost, professionally managed pooled fund. You can transfer in funds from your RRSPs to boost your SPP balance. And like an RRSP, contributions you make to SPP are tax deductible. Check out this made in Saskatchewan retirement savings solution all Canadians can enjoy.

Check out SPP today!

Join the Wealthcare Revolution – follow SPP on Facebook!

Canadians saving less, sharp drop in RRSP contributions: Edward Jones

Only 39 per cent of Canadians planned to contribute to their registered retirement savings plans (RRSPs) for the 2024 tax year, a sharp drop of 10 per cent from the previous year.

“Canadians’ ability to save for retirement is taking a significant hit,” begins a media release from Edward Jones Canada, discussing their most recent polling numbers.

The release suggests that “high living costs and debt burdens” are what’s preventing Canadians from saving.

The research, the release continues, found that just 15 per cent of Canadians planned to max out their RRSP contributions for 2024, “a drop of six points from the previous year.” And, the release adds, while 60 per cent of younger Canadians (aged 18 to 34) planned to contribute for the 2023 tax year, only 41 per cent planned to make contributions for 2024.

Worse still, Edward Jones Canada reports, “one in 10 Canadians indicate they cannot afford to invest in their RRSP at all.”

So what’s behind this retreat from saving?

“When it comes to the single biggest barrier Canadians face in saving for retirement, more than one-third (39 per cent) point to financial challenges caused by insufficient income, high cost of living and debt repayment,” the release points out.

“Amid economic uncertainty, it’s clear that Canadians are prioritizing their current expenses and putting retirement planning on the back burner” states Julie Petrera, Senior Strategist, Client Needs at Edward Jones, in the release. “And despite the crucial role a well-defined plan plays in overcoming financial barriers, many Canadians admit to not having a specific retirement savings strategy, underscoring a need for comprehensive financial guidance that balances short- and long-term financial priorities.”

No money to save, and no plan – that’s a problem. Let’s read on.

Just 26 per cent of those surveyed said they faced no savings “barriers,” the release continues, and “are on track to saving for their ideal retirement.”

There was, Edward Jones found, variations on this theme by age band.

Just 15 per cent of Millennials and 10 per cent of Gen Z respondents agree they have no barriers and are on track, the release notes. For younger Canadians barriers to saving also include “not knowing where to start without trusted financial advice (14 per cent of Millennials, 15 per cent of Gen Z), or that retirement feels too distant to plan for now (15 per cent of Millennials, 21 per cent of Gen Z),” the media release notes.

The release also notes that Canadians “recognize the importance of being financially resilient in retirement,” and that:

• 84 per cent say they will account for inflation while retired
• 84 per cent “want to be able to maintain their current lifestyle” in retirement
• 83 per cent agree healthcare in retirement “is an important priority”

“When it comes to determining how much to save for retirement, an alarming one-fifth (20 per cent) of Canadians report not having a specific strategy. Approximately half (51 per cent) say they rely on their income and budget to dictate their contribution, while 22 per cent rely on advice from financial advisors. Looking at age cohorts, Gen Z shows a distinct reliance on family or friends for guidance (28 per cent),” the release notes.

Final word to Julie Petrera, who states “at Edward Jones, we recognize that money is a thing, but it’s not everything. That’s why we work with clients to understand all of their unique priorities—both immediate and long-term—and then help them establish a plan to address all their goals.”

If there’s an overall takeaway from this research, it would seem that making saving a priority despite all the hurdles the economy can put in your way is a strategy worth considering. Many experts say you should make your savings automatic, so that the dough is in the piggy bank before you have a chance to spend it.

That sort of automated savings is easily available through the Saskatchewan Pension Plan. SPP members can set up automatic, pre-authorized contributions to SPP from their bank accounts; many make these coincide with pay day. You’re then paying your future self first and leaving SPP to do the heavy lifting of growing your savings through low-cost professional investing in a pooled fund.

Check out SPP today!

Join the Wealthcare Revolution – follow SPP on Facebook!