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Hard at work, even in retirement

TAVIA GRANT

Globe and Mail Update

Latest comment posted at 12:27 PM EDT 20/06/08

Two surveys show that many Canadians plan to keep working after they retire ...Read the full article

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  1. K. O'Brien from Kingston, Canada writes: Hard at work, even in retirement. Not here as I always refferred to it a retirement, not job change. And my wife having the shopping done for her.
  2. Seymour Hersh from Toronto, Canada writes: Could you reference the 'studies' mentioned in your article. The intent for boomers to work longer and the great knowledge base they provide, I hope, will encourage employers to take advantage of the older worker and hire more of them. What a great opportunity we have!
  3. Winter Mute from toronto, Canada writes: Those 'of a certain age' may be choosing to work just for health/drug/dental coverage, and forego salary completely. That kind of price competition in the labour market will really put a crimp in the plans of a raise for those in younger cohorts, LOL. Ofcourse this will not be a factor in the trades or services (fire, police) where people have either very generous retirement packages, or their bodies wear out after 30yrs of that kind of work (and therefore those aged 60 could not do the work at all).
  4. Chris A from Hamilton, Canada writes: ok... so let me get this straight.... you've been alive and working during the largest boom period of the economy since the industrial revolution started...

    you've accumulated more wealth than can be imagined and complain that your kids can't afford the cottage opening fees and that they don't have the time to take off to enjoy it anyway... for the love of god... retire!!! get out of the way for the next generation
  5. c mctavish from Canada writes: If you enjoy working, why not! I am actually suprised and impressed that this legislation was passed. Although I am quite critical of many of the things McGuinty has done, I think that giving people the choice if people want to continue working or not is great! If only freedom of choice is extended to other fields (The option of private universities, private health care, actually, anything that the NDP opposes, because the NDP doesn't believe that individuals can make their OWN choices for themselves).
  6. Likeme Likeyou from Canada writes: If you go to Home Depot, and Rona you will see plenty of people well into thier 60's working away. They are usually very helpful, and by the most part working hard. I do not see a single reason why someone should not work as long as they can, and as long as they desire. As for those who see age discrimination, it will end. The luxury of picking 20 year olds for cheap is becoming a thing of the past, we are just running out of young people! I am also glad that the youth will be more valued than the rest of us were, employers have gotten use to being very spoiled with high unemployment rates and a huge supply of working age boomers....'that is changing'. Come to Calgary for a look at the future, you will e plenty of retirment age people being begged to stay on for another year...or two...or three. You will also see older workers, driving buses, trucks, working at different stores, doing your accounting...everything. Calgary is not suffering either, these people are saving the employers skins!
  7. The One and Only True PRAGMATIC PUNDIT from Canada writes: #5 - Public education and health care aren't about people not being capable of making their own decisions, they're about ensuring that all Canadians have equal access to education and health care. They are two examples in which private market provision would not meet social needs due to externalities. I agree that if people want to keep working, they should be able to.
  8. b mac from Canada writes: If you have a cushy job and never take holidays because you don't want your boss to see what you really contribute to the operation then why not work till you drop. However if your body aches with pain everytime you climb up the ladder, with another square of shingles. to start another roofing job then maybe 60 years old is plenty soon enough to retire. I always tell kids today 'Make sure you get a Government Job'
  9. Andrew Pearson from Montreal, Canada writes: I've 'retired' twice so far and am still working. The term 'retirement' has no particular significance any more. If you're able to work, nobody should have the power to force you to stop. As for younger people - if you can't compete you should ask yourself why.
  10. Dark Angel from The West, Canada writes: Post # 4 Chris: Yes there have been boom times in the last thirty years, and each period was followed or preceded by the largest economic downturns since the 'Great Depression.' The late 70's and early 80's were nothing in comparison to the economic boom we are currently seeing. The economic gluttony of the boomers is more closely associated with the USA than I would say Canada! Its all relative to economic geography as to how well or poorly some did over those years. The trend right now however is that jobs in all categories are going unfilled. As Monty Python would say 'But I'm not dead yet!' Therefore I don't want to retire yet!
  11. Alan Wong from Richmond Hill, Canada writes: note That more than 3/4 of the people who are planning to work over retirement cite not having enough money for retirement.

    I don't know what that says, but it sure points to $$$ Still being a main factor. Work 'til you drop, you have no other reason to live!!!
  12. Paige Turner from United States writes: Hubby retired and didn't like it, so when the call went out to come back to work in the O&G business, he gleefully went back and has enjoyed it ever more. If you don't have a sustaining hobby or other interests, why not stay on working?
  13. Sherman Sterling from Canada writes: You know what Alan (post #11). If you didn't save enough to retire on, that isn't my fault. But as Chris said earlier, for the love of God, step aside and let the younger generation have a chance at making money and enjoying the good life. You've had your time in the sun, now move. Gesh!
  14. Rick Drysdale from Canada writes: Sherman Sterling
    It may not be your fault I don't have enough to retire but why should I step aside so you can work?
    From the sound of your posting you seem a bit self centered. Who said it was your fault?
    If I can't save enough what makes my place in the sun so desirable?
    What am I supposed to retire on, Old Age and Canada pension? You must be kidding. We are taxed to death in this country and spend more time dissing each other than complaining to the people that cause it all.
  15. P C from Canada writes: This is not about choice people. With so many company pension plans running huge deficits, this is all about saving the companies and not about the employees. This is also about the governments that allowed the Inc's of our society to run these deficits. It's all about covering their own butts. So gullible are the sheep that serve the state and it's big corporations.
  16. Matt Stiles from Vancouver, Canada writes: Sherman - What's wrong? Your overpriced education not able to get you a job in the real world? Seriously, though. If a guy in his 20's such as myself, or evidently Sherman, with an education and the permeability to adapt to a new electronic and global economy cannot compete with some old fart in his 60's, we need to be looking at ourselves, not blaming the older generation for being greedy. Our generation spends their time watching 'reality' tv, sipping lattes and text messaging, all the while our parents are still cutting their teeth to save for their retirement and pay off their debts. The reality is the younger generation has no entrepreneurial skills, no practical knowledge in the arena of their education and a growing amount of debt while their expectations of future earnings are something out of a fairy tale. But we'll still complain about the older generation not 'moving over' to make room. I'd call it unbelievable if it wasn't so typical.
  17. stand up mimi from Vancouver, Canada writes: I disagree with those who think older people should step aside and let the younger ones take their places. In most parts of the country older people are not displacing younger workers. In many sectors, positions are going unfilled because there just aren't enough qualified applicants. And even if there were job shortages everywhere, that is a different issue altogether. Older workers are very valuable because they often have a wealth of knowledge and skill that younger workers don't yet have. Maybe younger workers should try and be more competitive instead of demanding that older people give them their jobs.
  18. Marc Larose from HEARST, Canada writes: wORK UNTIL YOU DROP!! THAT ABOUT IT. OR CHANGE LIFE STYLE. MANY PEOPLE I MEET TO GET THEIR PLANIFICATION IN LINE ARE TO LATE IN THE GAME. WITH ALL THE CALCULATION TOOLS AVAILABLE NOBODY HAS A CRYSTAL BALL FOR ANSWER.
    WELL LIVE AN WORK IF YOUR COMPANY PERMITS IT!!!! ANYWAY IF THE COMPANY WANT YOU OUT THEY WILL FIND A WAY. THE MAIN REALITY IS THAT MONEY IS THE ISSUE. THE MAJORITY NEED TO WORK TO SUSTAIN A DECENT LIVING.( WHAT I CALL DECENT IS GOOD FOOD AND A ROOF OVER THEIR HEAD.!!
  19. Carlos Segundo from Canada writes: My wife and I will both be retiring in 2007 at age 60. We were not in a position to start saving for retirement until about twenty years ago. However, a combination of diligent saving, a fair bit of sweat (literally) equity built up in real estate, and just as importantly not falling prey to the consumerist agenda mean that we can now tell the Gen X, Y, Z, or whatevers out there that they can have these jobs, thank you, and hope they enjoy them. We're both proud of the jobs we did, but enough is enough; there is life outside and beyond work.
  20. johnny canuckler from Canada writes: Hey Number 5, sorry, I cannot afford to. That economic boom that you are talking about made the cost of everything go up faster then my salary and the downturn in the stockmarket make my penson savings a lot smaller than expected, so for me, it is either keep working, or become a homeless person. Sorry. Someone else will have to make room.
  21. Larry Hill from Canada writes: I would suggest #4 and #16 that in stead of looking at us as competition, why not seek to work with us (the old foggies 50 plus). We might have a few ideas that can pave the way for you. Just because we are older does not mean that we have not learned a thing or two that might just be of value to you in your future.

    Part of the fun in my career is extending opportunities to young people to see if they can handle it. Most are up to the challenge, I am very happy to say.
  22. Larry Robinson from white Rock, writes: Chris and Sherman - You haven't done your research. There are not enough of you to fill the workplace. Furthermore, the nice comfy lifestyle that you grew up in will quickly go down the flusher if boomers start collecting pensions, pay less tax and spending less. The longer pension plans can go before paying out high benefit rates, the better for your future retirement. You want boomers to work until five years before death. More tax, more consumerism, less time on health care. Don't they teach math in school anymore? Your education really was a waste of time - you need working bodies to support the system.
  23. Maritime Chick from Maritime Nation, Canada writes: The word 'retirement' was created for baby boomers, by baby boomers - and by the marketing geniuses on Bay St. The reality for most of us is probably that it will never happen. And why should it? When I have enough put aside in pension & RRSPs to cover my living expenses, and the kids are out of the house, I'm getting out of the rat race and doing something I love but can't afford to do now. Like work at Home Depot (or Kent here in NS). Or spend my time selling on eBay. There's plenty to do and enjoy, why retire if you still have the passion for work?!
  24. Scot Affleck from Prince George, Canada writes: When retirement comes, you choose to not get another good paying job due to the fact the government will tax away your pension benefits. So you get a little part time job. So much fer the whining about 'productivity' coming from the Feds. Are they too dumb to correlate? Methinks they are. Duh!!
  25. J Law from Canada writes: I worked in private business and I worked for government. I worked a hell of a lot harder in government than I ever did in private business. In private business I only had one or two bosses. In government I had 33 million bosses. A lot of them were not doing their job for their private business bosses, but standing with their hands in their pockets and watching me just waiting until I stopped to take a breath so they could scream about lazy civil servants.
    # 8 Don't tell people to get a government job unless you hate them!
  26. Kanti Makan from Cambridge, Canada writes: I retired at 60 five years ago. A couple of years later my wife did the same. We were fortunate and careful enough to build up an RRSP portfolio, which though not large, is providing a stream of income, along with our govt. and company pensions (all reduced by 30%) plus my OAS. We cut our coat according to our cloth and really do not have any desire to acquire more in our lives. We are able to set aside a small sum every month for our three grandkids' education and take yearly vacations in the sunny south during winters. Both my wife and I do yoga, teach yoga, play golf during summer and I also marshall at a couple of golf courses three times a week to keep our golfing costs down. We did some charity work. Our lives are neither exciting or boring, but we do know that all the stress of work, the travel and the need to put up with boors is behind us.
    How lucky can one be?
  27. Winston Churchill from London, Canada writes: I love the business school speak, which replaces 'want', 'must' or 'can't afford to' with 'chose'. To date, I have 'chosen' to have several careers, because I don't need the straightjacket my parents took for granted (i.e. a pensionable job). At 40, I arrived where they were at 28, economically (i.e. I got a pensionable job). Educationally and experientially I was miles ahead at 40 of where they had been at 40 (for example, ten years of post secondary education vice 3 years of public school education). My wife and I 'chose' soon after not to have many children, and haven't felt free with to make that choice (in fact, after taxes etc., we can't afford it). Now, it seems that my already foreseeable 'choice' not to retire (because I won't be able to afford to, particularly given the probability of dependent children at age 65) is actually a lifestyle choice! Let freedom reign! Such total bull. Here's the deal: there has been unprecedented productive increases in the past couple of generations. The middle sort of wage earner has lost ground, absolutely. Two incomes can't really do what one use to be able to do. Ever more wealth is concentrated in fewer hands. The work week hasn't been shortened since 1917, because it would be a 'disaster' for 'our competitiveness' (as opposed to a possible 'hit to their profits'). I haven't chosen anything. Like my forefathers before me, I'm dancing to a tune I didn't call, rather more difficult in some respects to that once played.
  28. Proud Canadian from Canada writes: Retirement will no longer exist in the near future because our economy with its pension plans and equity in housing is based on the premise of an ever increasing population.

    As Canadians, our birth rate is low and we will not always be able to attract skilled foreigners to work in our Country and then ask them to pay a large amount of taxes to support an aging population that was not properly funded.

    Think about it, if there is no one to buy your home and no one will work caring for the aged your nest egg will be small and your costs for home care etc will skyrocket.

    I hope most of you had a large family and showed your children a lot of love.

    For many of us our retirement will go back to the future with large extended families and granny flats in our childrens homes.
  29. Pieter D from Montreal, Canada writes: Unless you really need money, why anyone would work past 60 is behond comprehension. Imagine your deathbed thinking, 'If I had only spent a few more hours at the office!'.
  30. emilio D from Vancouver, Canada writes: The Americans retire at 67 years old and Canadians retire at 65 to get the full pension. If we choose to retire earlier, then we get penalized. The bureaucrats on both countries are planning to raise the retirement age even more because the statistics say that a lot of your friends and relatives die without collecting their pension benefits at a higher retirement age. This is good for the government who has underfunded our pension plan because of mismanagement. Removing mandatory retirement could be a double-edge sword because it is always easy to come up with a legislation to penalize us even more. Be careful what you ask for.
  31. Jo Geoghegan from Canada writes: Life is short. Do whatever makes YOU happy! And if you dont have to work for money or needy stuff, retire. It's just GRAND! Believe me!
  32. J Law from Canada writes: I was laying under a tree when a feller came up and told me to get up and get to work. I said, 'Why?'
    He said so I could make some money and earn a living and pay into a pension plan.
    I said, 'Why would I want to do that?'
    He said so I could retire when I get older and lay back and relax.
    I said, 'Ain't I doing that now?'
    How do people know I'm not telling the truth? Cause this is the prairies and there ain't no trees .
  33. Rolly Beethoven from Canada writes: You know at age 63 the prospect of retirement seems to be rather bleak. As an average Canadian whose savings have been eroded by children, occassional unemployment, divorce, no corporate pension availability and the dismal financial prospects of CCP and Old age pension what else is available than to just work until one drops. On the other hand I know of a married couple, who earned average incomes, both worked for the Federal and Provincial govts, had no kids, no divorce who have just completed the circumnavigation of the world in their 45' cruiser. Both retired at 55 with a combined $90,000 pension.

    The point being don't get married, don't have kids, work for the government, and enjoy sailing. The playing field regarding pensions in this country is not level, the rest is and hind site is definitely 20/20.
  34. Cherill Johnston from Canada writes: I know that I will be working several years after age 65. I am one of those people who deferred marriage and child rearing until my 40's. As for my career, I chose a notoriously underpaid and very stressful profession of social work. (needles to say the pension benefits are lousy as well). I am 51 with preteens who will require educating when I am in my late 50's and early 60's. Saving for my retirement is a joke. My pension will probably go to paying postgraduate university tuitions.
    How unlike my parents in the sixty's when they knew for sure they would have their mortgage paid and their children educated by the time they retired and still had enough income to help with their young adult children's first home downpayment.
    I am not complaining I am just stating the facts.
  35. Randy Coady from Paradise,Nl., Canada writes: For the love of the Lord, get the h__l home and RETIRE, let the students, and less-educated take the Home depot, Cdn tire, etc., jobs, and start a life for themselves.Makes me sick how those,usually well-off enough already, are grandstanding about "how great, if people want to work let them blah blah blah..""BS.MANDATORY retirement should be on the govt's agenda, not letting people work when they are older.What a bunch of malarkey..Canada is starting to really get sickening (as if it wasn't enough already)
  36. Lawrence Davis from United States writes: Great blog with lots of useful information and excellent commentary! Thanks for sharing.

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