Canadian Personal Finance Blog

No, this is not a commentary about how folks work longer and later hours (although I suspect we are), but Stats Canada put out some interesting numbers about how our work force is aging and people who should be “retired” are continuing to work, even though they are collecting CPP benefits.

Perspectives on Labour and Income is available for free from the Stats Canada web site.

The study found that a substantial and increasing proportion of CPP/QPP beneficiaries did some work for pay the year following their retirement.

For example, in 1995, 39.8% of men who had started receiving a CPP/QPP pension had earnings. By 2004, this proportion had increased to one-half (49.9%). Among their female counterparts, the proportion rose from 37.7% to 45.8%.

Why is this is the more interesting question. Why are people still working after they are supposed to be “retired”?

1. Do we need to work to make ends meet after retirement? This might well be the case, given the soaring costs of household upkeep on houses that are paid off (the property taxes in some cities are crippling to retirees on fixed incomes).
2. Do we simply want to feel useful after we have finished our career? That is very possible, certainly the “Golden Agers” I know want to simply do something to fill their time.
3. Given folks are living a lot longer these days, maybe the age of retirement (traditionally 65 these days) is too low?

Interesting numbers in this article, well worth reading.

Will I retire? I am not sure, I hope I reach an age where some time I can at least have the opportunity to make the choice for myself.

Preface

Apologies to my regular financial readers, I am indulging my spiritual side this Sunday, my regular Personal Finance discussions will begin again Monday Morning.

Crisis of Faith?

So a very interesting set of writings have been published by the late Mother Teresa which is causing some folks great consternation. The TIME headline on their web site starts with the following quote:

Jesus has a very special love for you. As for me, the silence and the emptiness is so great that I look and do not see, listen and do not hear.

— Mother Teresa to the Rev. Michael Van Der Peet, September 1979

The Rev. Michael van der Peet was Mother Teresa’s spiritual confidant, and he has published a book about Mother Teresa, where he quotes many of these types of letters from Mother Teresa to him. The book is entitled: Mother Teresa: Come Be My Light from Double Day.

These letters show that Mother Teresa had inner doubts about God and Christ while working as “The Saint of the Gutter”. Evidently Catholic scholars are appalled by her lack of faith in God and Christ.

What is amazing is that these scholars think she didn’t have these thoughts. This woman worked tirelessly in places and for people who the world had completely turned their back on, she was a human being. Her works speak volumes about what was in her heart, and her works are truly God’s work on earth, in my humble opinion.

She wrote these letters most likely as a way to cope with the absolute unhappiness and sadness she saw every minute of every day, and people wonder why?

I think this article puts a human face on a woman who before (to me) was a bit of a mystery, and I frankly don’t see what the fuss is about.

An interesting new blogger on the scene that I enjoy reading called Loonies and Sense . A very good posting for our American cousins doing some Canadian fiscal and financial translations for you in case you were curious what we were talking about when we say things like RRSP and RESP. This blogger is always brave enough to publish her goals and plans for financial security, which I just don’t have the guts to do (I have these goals, I just don’t feel right putting them out in the public eye).

It’s not easy for we Canadian Financial Bloggers because at times we are segregating our subject matter from two of the largest Financial subscribers out there in the United States and Europe, however, for most of us, it is a labor of “love” (or we are gluttons for punishment).

Related Canadian Financial Bloggers

• Canadian Capitalist
• Loonies and Sense
• Canadian Money Advisor
• Canadian Dream: Free at 45 (dream on big guy
• The Dividend Guy

There are other great non financial blogs in my right column in the very fine print that you can have a look at as well. We Canadians are an entertaining group of folk, once you get to know us.

A busy week for me at work, which is always a good thing, so let’s just bounce around to some thoughts on my mind and some ideas.

1. Let me state that I am NOT in favor of the Government banning smoking in>some one’s house. I never meant to imply that should be the case, however, I am all over parents who ban smoking from their house (even their spouses) when there are kids involved. To paraphrase a famous (infamous) Canadian, The Government has no place in the bedrooms of Canadians (kind of creepy to think of my MP hanging out in my bedroom).
2. TD announces amazing profits yesterday after last week’s DOOM and GLOOM statements, so what does this mean? You should have bought TD last week? That’s about my only view on this, whether there are still more ramifications from the below prime fiasco in the states, we shall see. My DRIP keeps dripping along happily.
3. The back to school insanity continues in my financial world, with that sucking sound you hear my kids going back to school.
4. My visit to the Passport office this week was not the horror I expected, it took me 20 minutes once I was in the door and I paid only $2 parking at 240 Sparks Street, amazing. I didn’t see Lotta Hitchmanova anywhere around however. Just go after 9:00 AM on a Wednesday before the Lunch rush.
5. My company (my real job remember) just changed their parental leave benefits (naturally lowering it’s top up (was 75% after first 9 weeks are at full pay, now is only 55%) ), which has caused a great deal of discussion internally, with one side crying FOUL and the other pointing out that a great deal of companies do not offer any “top up” of the EI benefits and we are lucky to still have them. Given I am not planning on having any more kids, I am not part of the discussion.