One in five young Canadian boomers have no retirement savings

Franklin Templeton survey also says 22% of self-employed Canadians never intend to retire

One in five young Canadian boomers have no retirement savingsA survey released on Wednesday says 21 per cent of Canadian young baby boomers, aged 55 to 64, have not saved anything for retirement. Franklin Templeton's 2019 Retirement Income Strategies and Expectations (RISE) survey also found 46 per cent of Canadian young boomers would consider postponing retirement and 15 per cent of Canadians expect to…

Stretching out our work lives as lifespans extend

Authors describe an evolving economy that includes people working into their 80s, based on a life expectancy of 100 years

Stretching out our work lives as lifespans extendLiving to 100 years old used to be an amazing and rare accomplishment. Three-digit birthdays were worthy of a letter from Queen Elizabeth. But today’s children five years old or younger have a 50 per cent chance of making it to 100. This amazing fact is pointed out in a book by Lynda Gratton and…

Growing number of seniors lack support of family, friends

Unbefriended,’ these isolated seniors require more help to safeguard their access to basic daily needs, including companionship, and improve their quality of life

Growing number of seniors lack support of family, friendsBy Stephanie A. Chamberlain and Carole A. Estabrooks University of Alberta What happens when a person grows older and can no longer make health and financial decisions for themselves – but also doesn’t have family or friends who can make those decisions on their behalf? Health and social services use a hard-hitting term to describe…

Is your time at the helm of your business running out?

We need to be prepared and to have considered our options in the event our lives change unexpectedly

Is your time at the helm of your business running out?What would happen if you had to sell your business this week due to illness? A man recently contacted me because his doctors told him that due to an illness, he had to stop working immediately. The problem was that he owned a business. How, he asked, could he comply with his doctors’ orders and…

Finding our way through the work maze to retirement

Business leaders need to create a culture where everyone contributes with passion and where everyone can plan for their future

Finding our way through the work maze to retirementA girl recently told me she wants to quit her job – she doesn’t want to work any more or go to school. “It sounds like you want to retire,” I said. “What would you do with all your time?” “I might want to do some travelling or play basketball,” she said. “I really don’t…

Federal budget full of puzzling contradictions

With one hand, the government gives. With the other hand, it takes away benefits to taxpayers

Federal budget full of puzzling contradictionsBy Jason Clemens and Jake Fuss The Fraser Institute Commentators have noted the thrown-together nature of the 2019 federal budget released last week. There seem to be several ill-considered initiatives and some parts of the budget openly contradict other government programs and reforms. One of the more prominent contradictions relates to housing policy. In 2016,…

Women more likely to put careers on hold to care for loved ones

CIBC study says 30% of women have reduced or stopped saving as a direct result of care responsibilities

Women more likely to put careers on hold to care for loved onesA new study by CIBC says 69 per cent Canadian women make significant financial sacrifices, including putting their careers on hold to care for loved ones, which can put them at a considerable disadvantage to men when it comes to saving for their retirement. The study also found that 30 per cent of women say they've…

The nomadic life of retirement tourism

Among the many fascinating people found in San Miguel de Allende was a couple who sold everything to travel the world

The nomadic life of retirement tourismI’ve just returned from San Miguel de Allende full of interesting new experiences gathered in a 475-year-old Mexican central highlands town renowned worldwide for its hospitality to culturally creative folk. Those visitors like to rent 300-year-old casas, practise speaking Spanish and participate in a nuanced cosmopolitan life. The local media refer to this phenomenon as…