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2 months 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 ...

4 months ago

The Senator from Quebec

Royce Shook · The second Fake News story that is again making the rounds of email, Facebook, and Twitter, is the Senator from Quebec, and it is below in Italics. The problem is that this little article has been circulating on the Internet for about 10 years, here is what I found when I looked ...

1 year 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 ...

1 year ago

Retirement a richly deserved break?

Royce Shook · Most of us in Canada dreamt about and looked ahead to retirement as a well-deserved rest after a lifetime of labour and we still do. For a long period, the dream was reality. In 1977, about 46% of all Canadians were covered by a registered pension plan (RPP). But time and practic ...

1 year ago

Will the age of retirement go up?

Royce Shook · In Finland in 2019, people in the country retired on an old-age pension at an average age of 61.5 years. In practice, that means a year-on-year increase of two months, said the Finnish Centre for Pensions in a press release. · The average effective retirement age has risen by 2. ...

1 year ago

Town Hall on Seniors issues

Royce Shook · I recently went to a Town Hall of Senior's Issues, and I thought the event was interesting as it addressed many of the topics I talk about here. So I thought I would share my notes. · ISSUES RAISED BY THE MP · Seniors caregivers and family are going to their MPs and MLA’S for as ...

2 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 ...

2 years ago

What is your magic number?

Royce Shook · In Canada, retirees have an important foundation through the Canada Pension Plan (CPP) and Old Age Security (OAS) on which to start their retirement savings programs. · Still, CPP and OAS won’t pay for everything and it would be a mistake to assume that Canada’s national pension ...

2 years ago

Retirement Planning 2019

Royce Shook · My friends and I were talking about how fortunate we were to have a defined benefit pension. My friends were talking about how much money a person who did not have a pension would have to save. As we discussed the topic, I realized that the calculations they were using were not a ...

2 years ago

Are you ready to retire? (Part 2)

Royce Shook · As you prepare your plan, think about what you will be doing through all three stages of retirement, not just the first stage. Imagining your retirement lifestyle also increases your desire to retire, while preparing you mentally for the changes retiring will mean to you. Develop ...

4 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 ...

4 years ago

Retirement Plans From Around The World

Royce Shook · Retirement planning is an issue around the world and many countries are trying to solve the problems created by withdrawing wealth from the middle class and giving money to the super rich. In 2012, I saw this post and as I relax this Spring I pulled it up again and thought I woul ...

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