Think about how you feel about money vs. how wealthy people feel and if your belief system is serving you. If you currently have a positive belief system on money, ah-mazing. Keep it up! If you have a negative association with money, wouldn't it serve you better if your habits were one of a money maverick?
There is a kind of loneliness that cuts even deeper than feeling alone. Social isolation -- the lack of meaningful relationships and human contact and connections -- is a devastating affliction, with impacts ranging from depression to accelerated aging and the risk of early death. Older persons are especially vulnerable.Older people face multiple risk factors: a partner's death, disability, chronic illness, reduced or unstable income, loss of vision or hearing, frailty, fear of falling and fear of forgetting.
With another RRSP season squarely behind us, now is as good a time as any for reflection. The last-minute mad dash to make a contribution is generally at odds with proper savings discipline. You can turn anxiety around by extending your savings plan beyond the RRSP season. Here are a few other tips to keep in mind.
This week, the legislation that originally created the Canada Pension Plan (CPP) will turn 50 years old. The stated purpose of the Canada Pension Plan was to ensure all working Canadians have an opportunity to retire in dignity. It builds on basic Old Age Security to achieve greater social justice linked to progress in the economy. But Canada has big challenges to face in the immediate future if we're to honour Lester Pearson's ambition of a fair, efficient, adequate system of retirement income for all Canadians.
I've been lucky to have a fulfilling marriage, a job that I love and a life filled with meaning. But like anyone, I'm familiar with the stretches of hopelessness that can come when life gets to be too much -- or not nearly enough. I began sponsoring Alejandro in Bolivia when he was just five, sure that I'd be improving his life. What took me completely off-guard was the way that he's lifted mine.
While most people have a good idea of their assets and future income, issues of capacity to make decisions regarding estate plans are much less likely to be present than in older populations. An elderly person preparing a bedside will towards the end of his or her life can raise suspicions, whereas a recent retiree attending the office of his or her lawyer does not raise the same red flags.
First, assuming that the baby boom is a post-war phenomenon means we jump to the wrong conclusion when guessing the cause. The baby boom was not the result of frisky soldiers returning to Canada. It was, instead, the result of the very good economic times in the period 1952 to 1965 allowing for at-home moms and large families.
Finding "the right one" these days can be very complicated, and by the one I mean the right financial advisor! Searching for an advisor that is the perfect match takes time, effort and plenty of research. Finding the right financial advisor is not necessarily a simple task but it can be straightforward if you follow some basic guidelines.
Seniors ought to age in the community along with the rest of us, enabling socialization and access to resources that keep them mentally, physically, and most importantly, socially active. Bringing up the standard of the actual facilities that already exist would be a good place to start, but a longer term vision requires new models altogether.
I might be betraying my demographic but I think it's time we seniors started asking for less. For years now, those in the over-60 age group have been making out like bandits while the younger generations struggle to make ends meet. Unlike in years past, there are now relatively few seniors in developed nations suffering in poverty. The iconic image of an aging widow living on cat food is today largely a myth. Older folks, for the most part, live comfortable lives.