CTV News

Nov 8: BEST FROM THE BLOGOSPHERE

November 8, 2021

More than three quarters of older Canadians fretting about retirement finances: NIA

Is retirement a concern for Canadians – especially those aged 55 to 69 who are approaching or have begun their “golden years?”

New research from the National Institute on Ageing at Toronto’s Ryerson University, reported on by CTV News, suggests that a significant majority of older folks are indeed quite worried.

According to the CTV report, the research found that “77 per cent of Canadians within the 55-69 age demographic are worried about their financial health.” As well, CTV notes, “79 per cent of respondents aged 55 and older revealed that their retirement income – through RRSPs, pension plans and Old Age Security – will not be enough for a comfortable retirement.”

The NIA research found that people were worried about the cost of long-term care in the latter part of their retired life.

While 44 per cent say the plan is to “age at home,” the data suggests that many don’t realize how expensive long-term care at a facility would be.

“Nearly half of respondents aged 45 and older believe that in-home care for themselves or a loved one would cost about $1,100 per month, while 37 per cent think it would cost about $2,000 per month,” CTV reports.

“In reality, it actually costs about $3,000 per month to provide in-home care comparable to a long-term care facility, according to Ontario’s Ministry of Health,” the broadcaster explains.

It’s essential that Canadians know the true costs of long-term care as they plan for the future, says Dr. Bonnie-Jeanne MacDonald of the NIA.

“Canadians retiring today are likely going to face longer and more expensive retirements than their parents – solving this disconnect will need better planning by people and innovation from industry and government,” she tells CTV.

Dr. MacDonald suggests one step we can take early in retirement to help us fund unexpected care costs later is deferring our Canada Pension Plan or Quebec Pension Plan payments until age 70.

Dr. MacDonald spoke to Save with SPP on this topic in detail earlier this year.

“Someone receiving $1,000 per month at age 60 would receive $2,218.75 per month if they wait until age 70 to begin collecting,” the article notes. Another source of income for long-term care costs could be the equity in your home, the article concludes.

Save with SPP has gone through this, with both our parents having had to receive the help of a long-term care facility to battle health issues in their latter years. Fortunately our parents had always been savers, and their retirement income was sufficient to handle these unexpected costs. Will yours?

If there’s a retirement savings program available at your workplace, consider joining it and contributing at the maximum possible level. If your employer doesn’t offer a program, refer the boss to the Saskatchewan Pension Plan. They can help set up a retirement program at businesses large and small. Check out SPP, marking 35 years of delivering retirement security, today!

Written by Martin Biefer

Martin Biefer is Senior Pension Writer at Avery & Kerr Communications in Nepean, Ontario. A veteran reporter, editor and pension communicator, he’s now a freelancer. Interests include golf, line dancing and classic rock, and playing guitar. Got a story idea? Let Martin know via LinkedIn.


Aug 30: BEST FROM THE BLOGOSPHERE

August 30, 2021

How to hang on to any “pandemic cash” that may be pilling up

While some of us have had to struggle to make ends meet during the pandemic, others have – somewhat ironically – seen their personal savings shoot to new heights.

A report by CTV News looks at how some of us may have to adjust our budgets as COVID-19 restrictions begin to taper off.

The article notes that by the second quarter of 2021, Canada’s savings rate rocketed up to 13.1 per cent, more than double the previous year’s savings rate.

“Even Canadians’ credit card debts have been dropping, with rates hitting a six-year-low in June due to reduced spending,” the article informs us, citing data from Equifax.

You read that right. Credit card debt is dropping.

“Across the board in all age groups, we’re starting to see people pay more than they actually spend on a credit card, which is a real positive behaviour change in terms of consumers,” Rebecca Oakes of Equifax tells The Canadian Press in the article.

That’s great, but when things return to “normal,” will we still be saving and paying off debt?

CTV suggests a few things to do with any extra cash you may have accumulated as normality begins – and there are more tempting things to spend your money on than during the locked-down pandemic.

Finance expert David Lester is quoted in the article as suggesting one destination for extra bucks would be an emergency fund, which should be enough to cover “six to nine months of expenses.”

Next, Lester tells CTV that your retirement piggy bank should not be neglected in the rush to spend, spend, spend.

“It could go into your tax-free savings account (TFSA) or registered retirement savings plan (RRSP), but we should just get used to saving 10 to 15 per cent” for retirement, he states.

If you spend with a credit card, Lester says it’s important to pay off the card each month, and to avoid letting a credit balance begin to grow.

He recommends that you pay off credit card balances first, as soon as you get paid, “and then going to zero (balance).”

If you are setting a budget for the world after the pandemic, be realistic, adds Lester.

There were a lot of things we couldn’t do – many of them expensive – that we may not want to spend as much on post pandemic, he explains. We lived without them for a long period of time, Lester tells CTV.

“Maybe it was travel, maybe it was movies, maybe it was having coffee at home, or not buying expensive clothing,” he says in the article. “So see what you really don’t miss and go back through that budget line-by-line and see what you don’t have to add back on now that things are opening up. We don’t want to go back to that bad spending that we were doing before.”

Our late Uncle Joe frequently would pull us aside and recommend the 10 per cent rule – bank 10 per cent of your money off the top, and live on the remaining 90 per cent. “You will never have any problems,” he said. It’s very sensible advice.

Pay yourself first, the old adage goes. And if you are putting away that cash in a retirement account, you are paying your future self first. You’ll be making life easier down the road, because you’ll be entering retirement with money in the bank and at the ready. A great way to pay your future self first is to set up an account with the Saskatchewan Pension Plan. They’ll invest your savings, at a low cost and a historically strong rate of return, and at the appropriate time, will help you convert those savings into retirement income. After all, they’ve been delivering retirement security for an impressive 35 years!

Written by Martin Biefer

Martin Biefer is Senior Pension Writer at Avery & Kerr Communications in Nepean, Ontario. A veteran reporter, editor and pension communicator, he’s now a freelancer. Interests include golf, line dancing and classic rock, and playing guitar. Got a story idea? Let Martin know via LinkedIn.


Aug 2: BEST FROM THE BLOGOSPHERE

August 2, 2021

COVID did a number on the retirement rate, but it’s climbing again

One unexpected side effect of the pandemic was a dampening of people’s plans to retire.

According to new research from RBC, covered in a story from CTV News, there was an unexpected drop of 20 per cent in the retirement rate last year – likely due to COVID-19.

RBC’s Andrew Agopsowicz tells CTV that the dip “was likely a result of uncertainty about retirement savings as the pandemic arrived.”

“It’s what held people back,” he affirms in the story.

But – perhaps an indicator of better times ahead – retirements are starting to return to normal levels, he notes.

“The return to normal could be a good period for people to make a decision they were probably going to be making (anyway),” Agopsowicz states in the story.

There has been a general rise in retirements over the last decade as the boomer generation hits age 65, the story notes, and “that trend will continue for several years.”

A fringe benefit of the boomers getting out of the workforce may be “a near-term labour shortgage for some types of jobs,” Agopsowicz tells CTV. This will be due to a trifecta – boomer retirements, a low national birthrate, and lower levels of immigration, the story states.

In mid-July, CTV reports, Statistics Canada reported that the Canadian economy added 230,700 new jobs, “as restrictions put in place to slow the pandemic were rolled back across the country.”

Savings may have to last a long time

If you are among those planning to log out for the last time in 2021, Money Control outlines some of the steps you may want to consider to ensure your retirement stash isn’t exhausted before (ahem) you are.

Most retirees will live beyond age 85, the article notes. “We could live for up to 30 years or more post our retirement… (and) women live longer than men,” the article states.

With that in mind, you should plan for your investments to outperform inflation, the article says. If you can’t get there with fixed-income investments, “investing in equity will give you long-term growth; in between, there will be volatility.”

So, putting these two bits of information together – the stampede towards the workplace exit for boomers will soon resume its normal pace. The nest eggs boomers have built, and that younger folks are still building, will need to last for maybe 30 years. And while conventional wisdom suggests that the older you are, the less exposure to risky equities you should have, inflation hasn’t been a factor for a while but could one day reappear.

One answer is a “balanced fund” approach, where experts position their fund with exposure to both fixed income and equity, making strategic moves in advance of emerging trends. A great example is the Saskatchewan Pension Plan Balanced Fund, which has produced an average rate of return of eight per cent since its inception 35 years ago. While past returns aren’t a guarantee of future performance, the idea of having someone else decide when to get in or get out is a sound one – you can instead focus on your golf game or line dancing steps. Check out SPP today.

Written by Martin Biefer

Martin Biefer is Senior Pension Writer at Avery & Kerr Communications in Nepean, Ontario. A veteran reporter, editor and pension communicator, he’s now a freelancer. Interests include golf, line dancing and classic rock, and playing guitar. Got a story idea? Let Martin know via LinkedIn.


Has COVID affected Canadians’ ability to donate to charities?

July 15, 2021
Photo by Katt Yukawa on Unsplash

A few years ago – before the pandemic – Global News reported that Canadians were cutting back on charitable giving.

Citing research from the Fraser Institute, Global reported that in 2017 Canadians donated just 0.54 per cent of their income to charity – less than half of what Americans donated (1.25 per cent) in the same timeframe.

Given the severe economic mayhem the pandemic has wrought upon us, Save with SPP wondered if charitable giving has taken an even further plunge.

It sounds like a recovery in charitable giving is underway, states an article posted in the Globe and Mail.

According to the article, authored by the Association of Fundraising Professionals (AFP), “in the 12 months since March 2020 when the pandemic was declared, more than three-quarters of Canadians who had given previously to charity continued their philanthropy and gave larger gifts than in past years.”

And while only 70 per cent of Canadians made charitable donations in 2017, 76 per cent did in 2020, and “the average size of the gifts was much higher – up from $772 in 2017 to $965 in 2020,” the article adds.

The AFP’s chair Susan Storey is quoted as saying “Canada is a phenomenally, uniquely generous nation, and philanthropy, at its core, is about helping others and strengthening communities,” she says. “So, it’s not surprising that for those that could give, they did – and generously.”

The Canada Helps website says that while “year over year” giving grew, the overall rate of giving is expected to decline about 10 per cent due to COVID-19.

This site suggests that our charitable giving is more targeted during tough economic times.

Canada Helps reports that Canadians gave 1.6 per cent of their income to charity; however, the percentage of Canadians who make donations is down from the level of 24 per cent it reached in 2007.

Charities have had to be resourceful during the COVID-19 pandemic, when traditional avenues, such as displays in malls or street corners, weren’t available. Online donations are one solution, and in Ottawa, local branches of the Royal Canadian Legion used a drive-thru approach for last fall’s poppy campaign, reports CTV News.

“I think it’s a great idea. First off you don’t have the older veterans out in the cold and wet, obviously it’s keeping them safe from the people in the stores and malls,” Richard Coney tells CTV, praising the idea of a drive-thru poppy campaign.

Donations to Indigenous Peoples’ Charities – for example are up 2.25 per cent, as are donations to social services charities (up 2.2 per cent) and health charities (1.8 per cent).

If you’re able to help out the charity of your choice – and maybe have had to cut back due to the pandemic’s impact on your finances – consider resuming your contributions now that we are emerging from the darkness of the pandemic. There’s a lot riding on it for a lot of people.

Similarly, if you’d had to cut back on retirement savings during COVID-19, gear back into it as soon as you can. A nice feature of the Saskatchewan Pension Plan for its individual members is that you can gear up your contributions when times are good, and gear down when they aren’t. The flexible SPP – celebrating its 35th year of operations — is open to accepting monthly pre-authorized contributions, or a little bit at a time through the “online bill payment” section of most banks. It takes many small steps to complete a journey, after all!

Written by Martin Biefer

Martin Biefer is Senior Pension Writer at Avery & Kerr Communications in Nepean, Ontario. A veteran reporter, editor and pension communicator, he’s now a freelancer. Interests include golf, line dancing and classic rock, and playing guitar. Got a story idea? Let Martin know via LinkedIn.


How the pandemic has changed the way we save and spend

June 10, 2021

As – touch wood – we begin to see the end of the COVID-19 pandemic, we ought to begin to see a return to normal, at least in terms of how we save money and how we spend it.

But the pandemic has changed the way we do those things, research by Save with SPP has found.

According to CTV News, the pandemic “has changed grocery shopping forever.”

It’s expected, for instance, that the trend towards online grocery shopping will continue even after the pandemic.

“The online buying, based on the numbers that we have now, I don’t think it’s ever going to go away,” Sylvain Charlebois, director of the Agri-Food Analytics Lab at Dalhousie University, tells CTV. “I think more and more people will continue to buy food online, regularly, whether it’s through order and pick-up or to get the food delivered.”

And it’s not just big grocery stores, the article notes. The owner of a small Nova Scotia-based meat shop says she thinks online ordering and curbside pickup will continue after the all-clear is given on the pandemic.

The Times of India says there are six lasting money lessons from the pandemic that we all can learn.

“One thing that the pandemic has made us all realise is that we can all save way more than we think. We were forced to stop eating out, go shopping, partying, go to movie theatres or concerts etc. While these are the things we will want to do as things slowly go back to normal, we have had a glimpse of how much we can save if we do not indulge in them as often as we used to,” the article begins.

The point of having an emergency fund has been underscored by the pandemic, the Times notes. The job loss many of us experienced impacted our workplace benefits, prompting some to consider self-insuring, the article adds.

The pandemic also shows us the danger of high-interest debt – what happens with it when our work is reduced or outright ended.

“High-interest debt, like credit card or personal loan, is harmful to you financially even when you have a regular paycheque in your hand. The damage caused by them increases many folds if you are out of a job. Further, if you are unable to pay on time, the piling interest rate can increase the debt amount,” the Times tells us.

A Toronto Sun article provides seven tips – aimed at small business owners, but useful for all of us – based on lessons learned from toughing it out during the pandemic.

Keep track of your credit score, and pay down debt, the article advises. Diversify your investments. Stick to a budget, and set up an emergency fund, the article tells us. “You don’t want to be caught off guard when it comes to unexpected expenses,” we are told. Finally, the Sun says, get back on track with your retirement savings.

There’s a general theme to these messages, and it is a good one to listen to. We’ve been limited on spending, and are often involuntarily saving more, for more than a year. A spending “explosion” is expected when things are fully reopened. The experts here are warning us not to go overboard, to follow a budget, to continue to save, and to wade, rather than jump, back into the re-opened economy.

Retirement saving is a great thing to be doing in good times or bad. With the Saskatchewan Pension Plan, you are in control of how much you want to contribute to your future retirement. If money is tight, you can gear down; if money is more plentiful, you can contribute more. And the money you do contribute will be professionally invested for you. It will be waiting once you punch the timeclock for the last time. Check out SPP today.

Written by Martin Biefer

Martin Biefer is Senior Pension Writer at Avery & Kerr Communications in Nepean, Ontario. A veteran reporter, editor and pension communicator, he’s now a freelancer. Interests include golf, line dancing and classic rock, and playing guitar. Got a story idea? Let Martin know via LinkedIn.


How we’re passing the time as the pandemic rolls along

April 15, 2021
Photo by Mick Haupt on Unsplash

For more than a year now, Canadians have had to deal with restrictions – sometimes fairly light, other times more of the “stay at home” variety – on what we can and cannot do.

Save with SPP took a look around to see what sort of things people are doing to keep busy at a time when so many of our usual activities are temporarily closed down or otherwise restricted.

A report from CTV News suggests that today’s situation is somewhat akin to the Great Depression of 90 years ago – so many people were out of work, or working reduced hours, that there was a huge growth in hobbies. “Stamp collecting, music making, woodworking and birdwatching” all grew in popularity in the 1920s, the article notes.

“In this time of uncertainty and instability, and a world and existence we no longer recognize, people need an anchor to familiarity and what once brought them comfort, stability, safety, and happiness,” clinical psychologist Dr. Jeff Gardere tells CTV.

Today’s pandemic hobbies include things like “tie-dying clothes, attending PowerPoint parties and partaking in TikTok challenges,” the article notes. These join more traditional activities such as walking and cooking, CTV reports.

Physical activity is of critical importance, even during the pandemic, reports CBC International.

Citing a report from the World Health Organization, CBC reports that “regular physical activity is said to be key to preventing and helping manage heart disease, diabetes and cancer and reducing depression and anxiety, cognitive decline and boosting brain health.”

The article suggests 150 to 300 minutes per week of “moderate to vigorous aerobic activity for all adults.” This can include walking, cycling, dance, play, and even “household activities like cleaning or working on your lawn and garden,” the article says.

“Every move counts, especially now as we manage the constraints of the COVID-19 pandemic,” WHO Director-General Dr Tedros Adhanom Ghebreyesus states in the article. “We must all move every day – safely and creatively.” 

Country Living magazine agrees that creative approaches to keeping active are being used – and some things that were more popular in the past have made a comeback.

The article lists such things as home gyms, handheld gaming consoles, jigsaw puzzles, swimming pools, and trampolines as ways you can do more without leaving home.

The Reviewed.com site adds a few more. TV choices, thanks to the many streaming services out there, are more numerous than ever before. Reading, arts and crafts, yoga, DIY home improvement projects and meditation are among the ideas listed.

Putting it all together, finding something to do will keep you feeling more positive – and more optimistic that we are starting to near the end of this bizarre, unhappy and eerily quiet crisis.

One activity that you might want to revisit during the pandemic is dusting off your retirement savings plan – if you have one. If your savings efforts haven’t started, are stalled, or if you want to add on to what you’re doing now, consider the Saskatchewan Pension Plan, currently celebrating its 35th year of operations. Your pension savings, small or large, are expertly invested at a low cost, and grown for that future date when you walk away from the office for the last time. With an average rate of return of 8 per cent in the balanced fund since inception, SPP is an option you should take some time to check out!

Written by Martin Biefer

Martin Biefer is Senior Pension Writer at Avery & Kerr Communications in Nepean, Ontario. A veteran reporter, editor and pension communicator, he’s now a freelancer. Interests include golf, line dancing and classic rock, and playing guitar. Got a story idea? Let Martin know via LinkedIn.


What activities are folks planning for a pandemic winter?

November 12, 2020

Many of us have long had problems dealing with the cold and darkness of a Canadian winter. But this year, we will be adding in the problems of the COVID-19 pandemic.

Save with SPP took a look around to see how folks are planning to spend their first full winter of the pandemic.

Since one strategy to surviving the pandemic is to be outdoors, sporting goods businesses are reporting very brisk business in winter recreation equipment, reports CTV News.

“It’s been quite a marked change from the normal August and early September sales,” Paul Zirk, general manager of The Destination Slope and Surf Outfitters in North Vancouver, tells CTV. “It’s been really up and it’s been really focused on winter sports. This year, our track as far back as mid-July was ski-focused and winter-focused and at some weeks triple what we expected.”

Hot sellers include skis and snowboards, snowshoes, and heavier winter clothing, the article notes.

The Real Simple blog rhymes off 49 different winter activities that you can try this year.

Sledding, hiking, skating, snowball fights, and stargazing are on the list, as well as things like enjoying a family night in front of “a roaring fire,” enjoying winter favourites like hot cocoa and mulled wine, and cozying up with a bowl of homemade soup. The article also lists crafty ideas, like making a birdfeeder or knitting a scarf.

Global News reports that it is important, during the upcoming colder months, to avoid isolation. Psychologist Dr. Ganz Ferrence tells the broadcaster that people “should be planning now for what they’ll do to stay busy and safe once the temperature dips below zero.”

Ideas include skiing – downhill or cross-country — snowshoeing, skating and tobogganing. If you’re too old or not well enough for outdoor activities, at least get outside, urges Dr. Ferrence.

“Just to get that fresh air, that sunshine, whatever it is, seeing that the rest of the world still exists is much better than just giving in to being shut-in,” the doctor says.

Be sure to stay in touch with friends and family during the winter, when visiting is limited by poor travel conditions. Using online tools like Zoom to meet loved ones is a great idea, Dr. Ferrence says. “The best is face to face — being able to touch and feel and everything — the next level though, is this. Being able to see somebody and look in their eyes, see their facial expressions, their tone of voice,” he tells Global News. “Underneath that is phone.”

One group of Canadians that has long chosen against toughing out our winters – Snowbirds – may find this to be a tough season, reports the Globe and Mail.

With border restrictions in place, and COVID-19 outbreaks at high levels in popular winter vacation states like Florida, many Snowbirds may have to give up their travel plans this year, the article reports.

Renee Huart-Field and her husband live in P.E.I. and normally vacation in Florida’s Gulf Coast. Because their dogs usually come to Florida too, they aren’t keen on flying, and the border crossings by vehicle are severely limited, the article notes. So they must decide whether to winter on the Island, or travel elsewhere in Canada.

“People sort of think well, gee, must be nice to have that dilemma. But it’s not,” Huart-Field tells the Globe and Mail. “As you get older, the winters become harder… It’s a health thing.’”

If you’re a retiree and hope to do a little travelling, and have some fun in the winter sun, a little retirement income goes a long way to helping you reach those goals. If you’re still a long way from retirement, there’s plenty of time to start saving – and a wonderful option could be the Saskatchewan Pension Plan. The SPP is quite unique, in that it not only offers you a savings program for your working years, it helps you convert those dollars – grown through SPP’s professional investing team – into an income stream once you’re done with the workforce and ready for the leisureforce. Why not check them out today!

Written by Martin Biefer

Martin Biefer is Senior Pension Writer at Avery & Kerr Communications in Nepean, Ontario. A veteran reporter, editor and pension communicator, he’s now a freelancer. Interests include golf, line dancing and classic rock, and playing guitar. Got a story idea? Let Martin know via LinkedIn.


Important to support local restaurants as they struggle to re-open

June 25, 2020

As we glide along, waiting for things to be “normal” once again on the health front, it’s interesting to see the changes in how Canadians interact with restaurants.

Until very recently, restaurants were restricted to take out or delivery. Now we’re seeing them reopen, usually with limited seating, perhaps expanded patios, and so on. Things are still not back to where they were in early March, and may not be for a long time. Save with SPP took a look around the Internet to see what people are making of this.

There’s no question that the restrictions have been very, very tough on Canada’s restaurants, reports Retail Insider. Citing research from Restaurants Canada, the magazine reports that “seven out of 10 restaurants in the country are either worried or extremely worried that they won’t have enough liquidity to pay vendors, rent and other expenses over the next three months.”

While the many restaurants still open “for takeout and delivery have demonstrated an exceptional level of responsiveness and innovation while continuing to ensure the health and safety of their staff and everyone they serve,” notes Restaurants Canada’s Shannon Munro in the article, their efforts may not be enough to stave off “insufficient cash flow and insurmountable debt.”

Some provinces are realizing that restaurants have been placed in a very tough spot. In Ontario, reports CTV News, provincial officials plan to get rid of the usual red tape so that it is easy for restaurants and bars to expand their patios, so long as social distancing rules are accommodated.

“We want to make sure we get rid of as much red tape and as much cost as possible to allow people to serve their patrons,” Ontario Attorney General Doug Downey tells CTV.

Many jurisdictions that previously restricted or prohibited alcohol delivery and take-out (the latter is known as off-sales in Western Canada) have dropped those rules. In Ontario, Blog TO reports that Premier Doug Ford is considering making alcohol delivery and takeout from restaurants a permanent thing – one that benefits restaurants. “There’s going to be a lot of things, as we say, the new way of doing business — and not only in government, but in the private sector, too,” Ford states in the article.

If there’s a takeaway from all of this, it is the need to support our local businesses as much as we can during a very tough period. Besides ordering for yourself, another great idea is to get gift cards from restaurants to give out as presents to friends and family. Like other parts of the economy that have been slammed by this healthcare crisis, every dollar we spend on local dining helps a local business to stay afloat until better times return.

While you can’t buy gift cards for the Saskatchewan Pension Plan, you do have a lot of flexibility as to how you can contribute. With SPP, you can either set the plan up as a bill and contribute via online banking, can set up direct deposit from your chequing account, or you can use SPP’s online form to contribute via your credit card. Check them out today!

Written by Martin Biefer
Martin Biefer is Senior Pension Writer at Avery & Kerr Communications in Nepean, Ontario. A veteran reporter, editor and pension communicator, he’s now a freelancer. Interests include golf, line dancing and classic rock. He and his wife live with their Shelties, Duncan and Phoebe, and cat, Toobins. You can follow him on Twitter – his handle is @AveryKerr22

Sept 10: Best from the blogosphere

September 10, 2018

A look at the best of the Internet, from an SPP point of view

Retirement may be good for your health
While most of us focus on the financial side of retirement – the question of saving enough for the “golden years” and then making it last to the finish line – there is arguably an even more important factor to take into account. That factor is the relationship between retirement and good health.

A recent University of Sydney (Australia) study found that retirees “become more active, sleep better, and reduce their sitting time” once they have left the workplace behind.

The retirees followed were also less likely to smoke, the study found.

An earlier U.S. study found “the retirement effect on health is beneficial and significant,” reports CTV News. This study linked a reduction of stress (no more work) to a reduction in smoking, and more time for exercise.

The National Bureau of Economic Research found “positive long-run effects both in subjective well-being, or happiness, and in the objective health measures,” reports The Fiscal Times via Yahoo!

“Retirement is a good time in life that many people look forward to,” states Aspen Gorry, one of the study’s authors, in The Fiscal Times article.

Less stress, more time to take care of your health, better sleep – you can’t put a dollar value on that. So when planning for retirement, take into account the fact that getting out of the workforce may be the best thing you’ve ever done for your health.

Changing things up in retirement
An article in US News and World Report lists “10 Retirement Lifestyles Worth Trying.” And what are some of them?

Going back to school, the article notes, is so popular south of the border that “a growing number of colleges are building retirement communities on or near campus.”

Retirement also lets you stay at home, to “experience what the days feel like when you don’t have to hurry,” the article points out. Other ideas include volunteering, starting a second career, or enjoying the thrill of become a devoted frugality buff.

What you do with retirement is of course up to you. Having a good retirement savings plan is an important underpinning for those years of freedom. If you don’t have a plan at work or on your own, the Saskatchewan Pension Plan can help.

Written by Martin Biefer
Martin Biefer is Senior Pension Writer at Avery & Kerr Communications in Nepean, Ontario. After a 35-year career as a reporter, editor and pension communicator, Martin is enjoying life as a freelance writer. He’s a mediocre golfer, hopeful darts player and beginner line dancer who enjoys classic rock and sports, especially football. He and his wife Laura live with their Sheltie, Duncan, and their cat, Toobins. You can follow him on Twitter – his handle is @AveryKerr22

 


Great accomplishments can come late in life

August 30, 2018

While sitting by the lake with a couple of old friends recently, talk turned to the idea that getting old means you’ll do less and learn little. “Can’t teach an old dog new tricks,” our friend said sadly, shaking his head.

But those old sayings may be past their best-before date, because many seniors are finding that their “golden” years are personal best years.

Take Vancouver’s B.J. McHugh. According to an article on the CTV News website turning 90 was no big deal for this accomplished athlete.

“McHugh owns several 10-kilometre, half-marathon and marathon records for seniors, including her latest: the fastest marathon time by a runner over 90. McHugh smashed the record by two hours at the Honolulu Marathon in December, with a time of 6:47:31,” the article states. This from a woman who did not take up running until her late fifties, the article adds.

Regina’s Ted Turner, according to a CBC article, was active and still golfing as he approached age 90, but was also a busy historian and author. “A few years ago he wrote a book on the Wheat Pool called Beyond the Farm Gate. He’s now working on another project about the agriculture building at the University of Saskatchewan,” the article states. “I think that as I mature, I can get better at a lot of things,” Turner told the CBC.

Finally, there’s the story of Quebec’s Laval Boulanger. According to another CBC report, Boulanger had a terrible workplace fall – a drop of 15 metres – back in 1943 when he was just 18. He very nearly died from his injuries, the report says, but recovered and made a unique vow. He decided that if he lived until age 90, he would skydive.

At the successful conclusion of his dive, he said “I’m free… my mind is free.”The moral of these stories is quite simple. The third period of life is a long time, and there’s no reason to try to just kill the clock. It’s a time to try new things, to learn, to have fun, and to surprise yourself.

Written by Martin Biefer
Martin Biefer is Senior Pension Writer at Avery & Kerr Communications in Nepean, Ontario. After a 35-year career as a reporter, editor and pension communicator, Martin is enjoying life as a freelance writer. He’s a mediocre golfer, hopeful darts player and beginner line dancer who enjoys classic rock and sports, especially football. He and his wife Laura live with their Sheltie, Duncan, and their cat, Toobins. You can follow him on Twitter – his handle is @AveryKerr22