# Question for near-retirees



## james4beach (Nov 15, 2012)

Directed at those who are still working but planning on retiring any day now

Given how amazingly strong the stock market is, and the general consensus that the economy and stock market will continue being strong, would you seriously consider retiring TODAY? Your investments have recovered off the market lows and prospects look good for living off your accumulated assets.

Would you consider retiring today?

And... you know... freeing up some of those positions that us young guys/girls desperately need?


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## sags (May 15, 2010)

For those without DB pensions.........I see 3 reasons for some delaying their retirement.

1) Most people have no money........and don't invest in stock markets, so they have gained nothing.

2) Of those who did invest in the markets.........they may still be well below where they were before the Great Recession.

3) Those depending on the return on their portfolios for income, have not had their confidence fully restored and fear it could happen again.


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## OptsyEagle (Nov 29, 2009)

james4beach said:


> Directed at those who are still working but planning on retiring any day now
> 
> Given how amazingly strong the stock market is, and the general consensus that the economy and stock market will continue being strong, would you seriously consider retiring TODAY? Your investments have recovered off the market lows and prospects look good for living off your accumulated assets.


What is the alternative. Wait until another 2009 comes along where your retirement nest egg is cut in half ... and then retire? Don't let greed jump into your swimming pool. If you plan to retire, this is about the best environment that has come along in the last 10 or 12 years, to do so.


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## sags (May 15, 2010)

Central banks have altered the landscape, providing accommodation for those with debt, at the expense of those who are saving or require conversion of capital into monthly income.

Perhaps people delaying their retirement is one of the undesired consequences.


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## uptoolate (Oct 9, 2011)

I'm on my way out come springtime. It makes me a bit nervous that we've had such a run in the US market but what are you going to do. That's why we have rebalancing. I was going anyway but it is nice to have the extra cushion and another big dip wouldn't really change things for me. Well less caviar I suppose!  

In my line of work the Great Recession had a huge impact on delaying the retirements of a big cohort and has left some of the younger crowd underemployed for sure.


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## Daniel A. (Mar 20, 2011)

james4beach said:


> Directed at those who are still working but planning on retiring any day now
> 
> Given how amazingly strong the stock market is, and the general consensus that the economy and stock market will continue being strong, would you seriously consider retiring TODAY? Your investments have recovered off the market lows and prospects look good for living off your accumulated assets.
> 
> ...


The lowest unemployment rate in Canada's history was posted in 1947, when the country posted an average unemployment rate of just 2.2%

The highest unemployment rate in Canada's history was posted in December of 1982, when the country posted an average unemployment rate of 13.1%


The most recent Canadian unemployment rate: 7.2% (Date: 2013-07)


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## wendi1 (Oct 2, 2013)

I am considering retiring, but not so that one single person (with my education and experience, of course) could take my job.

My grandmother told me that she quit her job when the soldiers came back home after the Second World War, because she felt the veterans had made substantial sacrifices and deserved jobs.

I don't get that vibe off of the current gen Z situation, though. What makes you think you deserve my job? What sacrifices or contributions to society as a whole have you made such that I should take substantial financial risks for you?

And wouldn't you rather that I take care of my own finances so you don't have to support me and mine later when I run out of money?


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## james4beach (Nov 15, 2012)

I realize there's the whole question of whether gen X/Y/Z "deserves" your job...

But what about the situation with the stock and bond markets? Surely this is about as good as it gets right? A few years ago we kept hearing how people had to stay at their jobs longer because the markets were so depressed. Now that markets are back to their highs, I presume that problem is a distant memory


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## GoldStone (Mar 6, 2011)

My employer stopped hiring in NA (with a few rare exceptions). They don't backfill positions when someone leaves or retires. The jobs shift to China, India or Eastern Europe.


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## uptoolate (Oct 9, 2011)

james4beach said:


> But what about the situation with the stock and bond markets? Surely this is about as good as it gets right? A few years ago we kept hearing how people had to stay at their jobs longer because the markets were so depressed. Now that markets are back to their highs, I presume that problem is a distant memory


Sadly that's not the way it works... people bail at the bottom and then are afraid to buy back in until it's too late. I'd bet that most of those who lost a huge chunk of their retirement savings haven't recovered it. Also, there is the 10 years of growth that had been anticipated but failed to materialize.


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## mind_business (Sep 24, 2011)

James, if I remember your education correctly, you'd make a great wage in Alberta. There are a lot of opportunities in Edmonton, Calgary, and of course Fort McMurray supporting the oil sands. Spend a few years building up a cash reserve, then decide where you want to live afterwards.

A lot of young people are making wages here that normally you don't make until you're in your 50's ... or ever ...


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## Rusty O'Toole (Feb 1, 2012)

james4beach said:


> Directed at those who are still working but planning on retiring any day now
> 
> Given how amazingly strong the stock market is, and the general consensus that the economy and stock market will continue being strong, would you seriously consider retiring TODAY? Your investments have recovered off the market lows and prospects look good for living off your accumulated assets.
> 
> ...


You can have mine. I prefer to avoid work.


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## fraser (May 15, 2010)

My daughter lives in Ft. Mac. It would not be my choice of a place to live but many of her friends and neighbours have built a new life in Ft. Mac....people from other regions of Canada who perhaps had challenges in finding year round work that paid enough to support a family. My daughter and her boyfriend employ on average 20 people. Their biggest issue is getting reliable, qualified people. We did a tour at one large site in town. We were told that they currently have 300 open positions.

But it is not all wine and roses. They recently built a home with a legal basement suite. That 2 bedroom basement suite rents for $2600. They could have got up to $2900. but were willing to reduce the rent in order to have good renters. 

As you would expect, where there is lots of money floating around there is also crime....and organized crime. Just like all large cities in Canada.


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## donald (Apr 18, 2011)

That's interesting Fraser,what type of business does your daughter and her beau own?I have heard drugs are rampant in fort Mac,if I'm willing to wager it is likely bikers who control fort Mac(HA)
you sometime read quotes,or advice of older people and regrets and often risk comes up
Is this true?does one regret not taking those risks?
I'm sure most had a few oppurtunies come up and passed because they didn't want to venture out into the unknown or simply there 
Was to much at stake to chance it,Truth?
And maybe a second part to the question,what would you tell your 30 yr old self if you had the chance today?of course it can be money related but it doesn't have to be(maybe even more interesting if it isn't)anybody?


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## donald (Apr 18, 2011)

Only reason I ask(by the way I'm just asking in this thread because its retirement and that usually happens after many many years)
I read the other day the top 5 regrets on a persons death bed and probably not surprising is when one is faced with mortality money is never mentioned in anyway,usually its
I wish I learned to laugh more and wasn't so serious
I wish I told x I loved them or gathered the courage to reach out to x family member
I wish I didn't care about what other thought about me ect.
where all a pretty serious bunch about investing here,I sometimes wonder if one predictedly wonders why did I consume myself with money so much in this life,I'm wondering if this is indeed a regret that might roost for some of us here(young and old)what do you think?
Sorry for hijacking thread
Carry on and ignore post if you like and resume convo
*nobody here is financially poor,from my observation*maybe I'm in a different stratesphere,wrong thread/forum/question tangent.


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## sags (May 15, 2010)

No.......you are quite right Donald, at least from my vantage point.

Unfortunately, we don't get a practice run through life. The best we get is a different viewpoint from age and experience.

Retired people usually are aged and experienced, so their viewpoint is often different from younger people.

As you get older, you put more value on time and relationships. You come to the realization that most everything else is just stuff.

My best friend of 25 years, passed away suddenly 5 years ago.

We did everything together from work to play.

When things like that happen.........you realize what is really important in life.

On the bright side....we now have a 5 year old grandson...and now I know why grandparents absolutely adore their grandkids.

He lived with us for the first 4 years, but has moved out and lives with his mom.

We are so lucky that his mom values his relationship with us enough to let us have him every weekend.

So you see........in my experience.......it is all about relationships.

Money provides the ability to add a little dash to those relationships.......dinners out, some purchases, a trip or two.

But a big pile of money sitting in the bank...........is a complete waste, as far as I am concerned.


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## fraser (May 15, 2010)

Donald....he does finishing carpentry for the large builders. He moved from Red Deer because business was slow. Went up a few years ago on his own, got a job. Now he has expanded to running a contracting firm and a wholesale supply business. It is all down to initiative. They were paying $800. month to rent a small storage facility to store product. Now, they are just finishing a double garage on their lot that will replace that storage unit. Incredibly short payback and ROI.

There seem to be two types of people in Fort Mac. The ones who moved their family there and are making a new life for themselves and the group who essentially commute. The commute can be 4 days in, it can be four weeks in. 

The sad part is there are jobs. We visited one company that had 500 different job openings. If I was young and unemployed I would not sit on my duff complaining about it. I would move to where the jobs are. When we visit places like Peterborough, Ontario and see the high unemployment (or the low wages for those who are employed) I just shake my head. On the other hand, I know of a number of people who have moved out and are working in Ft. Mac or in the diamond mines in NWT. Ontario manufacturing is changing. The output may remain the same but far less people will be employed to achieve that manufacturing output. 

It seems to me that some people are in complete denial about our transitioning economy. Those that are in denial or do not adapt will left behind.


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## sags (May 15, 2010)

Companies out west are hiring, but they want experienced trades, and are not interested in training apprentices.

Those companies are competing with companies like Toyota in Ontario, who offer higher wages to trades that are ready to go.

Why would a skilled diesel mechanic move to Fort McMurray, when they can find all the work they want right here?

Many of the "unemployed"............may very well be "unemployable" , due to the mismatch of their education and the requirements for jobs.


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## fraser (May 15, 2010)

Well actually, firms in Ft. Mac are hiring some inexperienced trades and those without trades. I know of one firm that is training people to drive trucks. They are taking apprentices in the hope that these people will stay, progress in their fields, and put down roots.

Skilled tradespeople are moving to Ft. Mac because of the wages, full time employment, and for career opportunities. Companies like Toyota, GM have very good job opportunities. But keep in mind that as each year passes, there will be more cars produced by fewer and fewer people.

But a low skill person working in a fast food outlet for minimum wage will not do much better in Ft. Mac than they will somewhere else. Wages will be higher but so will living costs.


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## donald (Apr 18, 2011)

this is a example right here and what I guess I was trying to get at.
there are young guys in Ontario who could relocate but chose not to.
Fraser your daughter took a risk and her and her boyfriends life is obviously vastly different.
This is a example of taking a risk.
the older I get I realize also time flies,in so many areas there are choices,should I venture down path "a" or "b" and at the end of the day you really can't tell what/how life will unfold(you could regret decision "a" but how do you know?,maybe time passes and you stuck with decision "b" and are glad you did in hindsight)
I'm learning we do have control,but only with regards to attitude.
life really is quite the game and puzzle and maybe we are all just pawns.....you get one go around and try to do what is right but even than you might have regrets/disappointments sect,but how else is one suppose to live.
kinda like the stock saying:"nobody gets the play book in life"


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## fraser (May 15, 2010)

Agree. I think that it is all very much about personal initiative and making good choices. Opportunity is important, but it is also most often a result of initiative, good choices, and hard work.

A country can have the best cradle to grave system in the world but IMHO an individual personal and financial success, and happiness, will always come down to one or all of these three.

We have friends who emigrated to Canada five years ago from South Africa. They got a letter from saying you can come to Canada-make a decision, come within six months, and arrange a medical before you come. So they did because it was the right choice.

They left their families, they knew no one in Canada, and arrived in Toronto with a six month old baby and four suitcases. Some job interviews, no offers, so they went on to Calgary to try their luck. Five years later they are Canadian citizens, both have good jobs, and have a house and mortgage. They probably appreciate Canada more than most Canadians do. I think that is why immigrants are successful. To be immigrants, they typically have initiative, have made the choice, and are willing to work hard to realize their dreams. They don't expect things to simply fall into their laps and they do not feel entitled.

So these folks came come half way around the world to get a better life for themselves and their children, and realize better personal and career goals. Yet it is difficult to get some people to move to different locales within Canada.

It comes down to initiative, choices, and hard work. Everything else will usually follow.


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