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2 years ago

Cramming for retirement

Royce Shook · Failing to plan is planning to fail.” As cliché as it sounds, it’s a piece of advice that too many people are failing to act on especially when it comes to retirement. I speak from personal experience. I retired before I was ready and even though I had more than five years left b ...

3 years ago

Inflation and planning your retirement

Royce Shook · While the equity markets surge and investors breathe a sigh of relief after a stressful 12 months, we may be hurtling towards a retirement crisis. · As we know our Canada Pension Plan is sustainable and I believe that while pensions will continue to do their job and payout, the r ...

3 years ago

Canada Pension Plan is it sustainable?

Royce Shook · In an article written in March 2021, called Public Pensions: Steady as they Go, the author Yan Barcelo asks the question: Are Canada's pension plans as sustainable as they seem? · A legitimate question and the first couple of paragraphs lead the reader to consider the idea that t ...

3 years ago

CPP and OAS enhancements coming

Royce Shook · One of the crucial aspects of pensions in Canada is the Canada Pension Plan (CPP). For 2020, the maximum monthly amount a new recipient could receive starting at age 65 is $1,175.83. However, the average monthly amount (for June 2020) is only $710.41, which means the average reti ...

5 years ago

Pension issues and Poverty among seniors

Royce Shook · There is a federal election looming in Canada and there will be many issues that the parties will be focused on such as the environment, climate change, corruption (SNC-Lavalin), Leadership, national pharma care etc. I wonder if poverty rates among seniors which have been rising ...

5 years ago

Services for Canadian Seniors

Royce Shook · The other day I was wondering if there was a single source of information on Programs and Services for Seniors that I could refer people to in Canada. I knew that there are a variety of programs and services to help us ensure our later years are safe and secure. Our government ha ...

5 years ago

Myths about the Canada Pension Plan (CPP)

Royce Shook · The Canada Pension Plan has a website that debunks the myths many of us have about the plan. To read more go to the link and check the sources. Back in the late 1990s, there were serious concerns about how long the CPP would be able to continue paying benefits. Indeed, the Office ...

5 years ago

Start earlier rather than later Part 2

Royce Shook · If everything goes well for us, we will make it through the stages of retirement in good health and will remain active and will have lots of things to keep us happy.  So as we plan for retirement we should develop a personalized spending estimate based on your interests and plann ...

5 years ago

Canada Pension Plan premiums are going up: is it a tax or an investment?

Royce Shook · Two sides to the same coin. If you view the CPP as an investment in your retirement funds, you see the logic of the following argument: · The last time CPP contributions were increased was 1997. During the entire seven years, the increase was phased in, employment rose and the ec ...

6 years ago

Working longer could increase pension payouts.

Royce Shook · Japan recently took an interesting step when dealing with its ageing population. The · Japanese government policy on the elderly released Wednesday, January 17, said people should be allowed to delay the age they start receiving public pensions, to over 70, with the government ho ...

6 years ago

Liveable Wage in retirement

Royce Shook · Richard Thaler, who won the Nobel Prize suggests that employers should use the opt-out option rather than the current opt-in option to help employees invest for retirement. This is a good idea and one that the Canadian government follows with its pension plan, the Canadian Pensio ...

6 years ago

Savings for retirement--how much is enough?

Royce Shook · The new year fast approaches, and many of you are one step closer to retirement. Many of you are now starting to think about retirement. If you are like me, I really did not think about retirement until about 10 years before I retired. My first thought was, will I have enough mon ...

7 years ago

Issues for Seniors

Royce Shook · The following is from my Blog, I am a Sonic Boomer not a Senior, where I have been, for the past six years, discussing issues facing Boomers. · Aging seniors and their families are faced by the complexity of issues facing the elderly. Not only do older people have to contend with ...

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