# The Key to Retirement Security



## Belguy (May 24, 2010)

I thought that this article by Randall Denley in the Ottawa Citizen would be of interest to some forum members who are in the process of trying to save for retirement.

http://www.ottawacitizen.com/news/retirement+security/6111476/story.html

Any thoughts?


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## Daniel A. (Mar 20, 2011)

OK calling OAS a handout is sarcasm, its a program that has been in place since 1952 and money built into everyone's plan.

Next party lines were only if you lived in the country.
Much of what he alludes to though is somewhat true, since the seventies houses have gotten bigger now it is a question of land value building a small home on a lot than can accommodate 4-5 thousand square feet.

As far as all the toy's computers, cell phones, anything technology driven they are not so much a choice, with kids in the past 20 years often driving many of a families purchases these things can't be ignored.
If anyone were to avoid these items and tell the kids to wait we then send the kid out without needed skills.

As far as winter vacations the cost for several months in the sun is far less than most would believe. Four months in Mexico 1900.00 per month living well. If you stayed in Ontario for the winter in normal winters the heating bill alone would likely cover a large piece of it.

Credit is the big killer and only been in Canada in the form of cards since 1968. Auto leasing in the eighties, lines of credit nineties. 
Two working parents became the norm in the seventies and we do have a consumer driven economy.

Yes a good starting point would be to live within our means and avoid credit.
There is much a person can do to reduce expenses it is a question of what someone really wants.
It's amazing how many people could retire if they wanted to but complain about all the reasons they can't.
I've know many that on paper it did not make sense for them to work but they did.


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## uptoolate (Oct 9, 2011)

Seemed like a pretty decent article. Certainly living below one's means, whatever they may be, is one of the keys to happiness. Madison Avenue and peer pressure are the key enemies in this battle. 

Respectfully, I disagree with Daniel A. that depriving a 12-year-old of a smart phone will somehow deprive them of necessary life skills. In fact, in my experience, smart phones, BBM and Facebook are huge threats to productivity in the preteen and teen years. Our family is pretty well off but there are no cell phones until mid-teens and they are definitely off after 1030 at night and during school hours and meal times. I was amazed when my 12-year-old's friend pulled out his new Galaxy Nexus the other day. This is a child who lives with his single mother, his uncle and grandparents in a town house not far away - really? These are the kinds of values we are instilling? 

We live in such a McDonald's society where everyone needs everything now no matter the cost. Most people have no ability to discern wants from needs and definitely have a very limited ability to understand what things are costing them in the long run. It is definitely time for a reality check.

Good article. Thanks for the post Belguy.


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## sags (May 15, 2010)

Only a few years ago, all the news was about the huge inheritances that baby boomers were going to be passing on to the next generation.

Market crashes, artificially low interest rates, lost jobs, stagnant incomes.........

They all contributed to a downturn in senior finances but it is nothing compared to what the looming housing crash is going to bring.

And........let's not let the Harper government off the hook either.

Inheriting a large annual surplus, they couldn't wait to implement their ideology. They lowered the GST by 2% points, lowered corporate taxes, and lowered personal tax rates...........all of which were unnecessary, propelled the government into large deficits, and have been proven in the past as an unsuccessful economic strategy.

While they were cutting their own revenues, they expanded the public service at an unprecedented rate, implemented all kinds of novel tax deductions, and spent themselves silly.

Now they want to blame the poor, old seniors.

Flaherty has done for Canada what he did for Ontario.


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## sags (May 15, 2010)

It looks like Harper just got the rug pulled from underneath him.

http://www.cbc.ca/news/politics/story/2012/02/08/pol-old-age-security.html?cmp=rss


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## Daniel A. (Mar 20, 2011)

In a perfect world the writers view would be fine, there are many things in life that get in the way, divorce is a big one.


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## HaroldCrump (Jun 10, 2009)

sags said:


> Flaherty has done for Canada what he did for Ontario.


Don't worry about Ontario, it is in very capable hands.
McGuinty and Duncan are [in]competent enough to march us straight into a vortex of debt, deficit and bankruptcy.
Ontario is to Canada what Greece is to Europe.


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## canadianbanks (Jun 5, 2009)

sags said:


> It looks like Harper just got the rug pulled from underneath him.
> 
> http://www.cbc.ca/news/politics/story/2012/02/08/pol-old-age-security.html?cmp=rss


"The income support program is sustainable and affordable given the federal government's projected revenues and economic growth, Parliamentary Budget Officer Kevin Page said."

Yes, but these are only projections that might not happen...


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