Lack of empathy shows

In Britain, more than two million women born in the Fifties face having to work an extra six years before retiring after changes to their retirement age. Governments faced with decades of lack of planning and understanding of the issues facing them as Boomers get older are making bad decisions.  Many of our governments have a short term horizon, and they only see until the next election or not even that far. 

The recent changes in Britain have caused many problems and when asked about the fact many women will have to work an extra six years, a  Minister of the Crown said: “The reality is over 200,000 people over 60 have entered further education since 2014/15.

“We have also extended apprenticeship opportunities as one of the best routes to skilled employment for people of all ages and gender.”

The comments in a heated Westminster Hall debate triggered shouts of “Shame on You” from Labour and SNP MPs.

Campaigners slated the government for trying to push “Grannyships”.

Taking to social media, One woman wrote: “I’m 62, can I be a bricklayer?”

An outraged Old Age Pensioner added: ‘Perhaps I could have an apprenticeship as a hairdresser in a modern salon at the age of 64? I don’t think so.”

The Waspi Women – Women Against State Pension Inequality – want transitional arrangements put in place to help them after seeing their pension age rise from 60 to 66.

The increase follows two changes to the retirement age, one in 1995 and the other during the Coalition.  In my mind, the issue is not the change, but the speed of the change. 

Research shows that people do not start to plan for retirement until they are in their early to mid-fifties, and if the rules change without adequate warning then people become angry and stressed. The changes in  Britain were done to save money and without consultation or warning. 

As Boomers age around the world, there may be more of these dumb decisions by governments as they try to come to grips with decades of no or poor planning. As individuals, it becomes important to understand that the government will not be there for us when we retire, and we need to start our own planning and saving. The sooner the better.

How much do I need to retire?

I was talking to one of my friends who does volunteer work at a senior's centre in his town and I asked him what he was doing as a volunteer.  He said that he was doing income taxes for seniors who were had low income.  He told me that over 60% of seniors in BC only had Old Age Security and the Income Supplement and some Canada Pension so they were making less than $24. 000  a year. 

One of the questions a person in their early 50's needs to start asking is:

How much guaranteed income will you have when you retire? 

Financial security is increased when you have income that is guaranteed to continue no matter how long you live. Experts recommend that most people have enough guaranteed lifetime income to pay fixed, basic expenses. That reduces much of the stress and uncertainty of retirement, and it also makes some people more comfortable investing for higher returns with the rest of their nest eggs. 

Old Age Security and Canada Pension are the only inflation-indexed guaranteed lifetime income for most people. Don’t make a fast decision on when to receive Canada benefits. You have choices, and it’s important to optimise your Canada Pension decision, especially for married couples. The right choice can add tens of thousands of dollars of lifetime income. 

You should also consider buying additional guaranteed lifetime income through an immediate annuity or longevity annuity (also called a deferred income annuity) if you have saved up some capital to do this.

If you do not plan and put some money aside in addition to the Canada Pension you may find yourself in a situation where you only have enough to pay your fixed basic expenses. 

Security is most;u a superstition

Helen Keller said:, "Security is mostly a superstition. It does not exist in nature, nor do the children of humans as a whole experience it. Avoiding danger is no safer in the long run than outright exposure. Life is either a daring adventure or nothing."

Think about her first words, "Security is mostly a superstition."

Let that sink in.

Avoiding danger is no safer in the long run than outright exposure.

So... what outright exposure are you willing to embrace this week?  

What's your daring adventure going to be?

Is the glass half full or half empty?

Do you have friends that are pessimists?

I have one and he is especially a pessimist when it comes to aging. In fact, most of his conversation was about his ills, our mutual friends’ ills and how little time he has left. 

When I gave him the scenario regarding how science is exponentially marching forward to reverse age-related maladies, how technologies will extend life expectancies beyond what he considers his actuarially mandated year of reckoning… and how we will reverse aging itself, it didn’t quite register.

Oh, he’s a very bright guy, and he intellectually grasped my argument. He just didn’t seem to think it would happen in time for him.

That’s very sad because his mere disbelief could ironically shorten his life and fulfill his prophecy.

I understand there’s a genetic underpinning that determines our levels of optimism or pessimism. You’ve to have heard the term: “He/she is a born optimist.”

Well, we know that’s true for most optimists. But not all.

We can’t change the genetic code we were born with, not today anyway. But we can affect our gene expressions. With a little work, we can tilt ourselves toward optimistic attitudes. In other words, you can become more optimistic if you keep telling yourself you are an optimist… and then act accordingly.

When you catch yourself complaining – STOP. Replace negative thoughts with positive ones. Remember, you can only keep one thought in your mind at once.

What you say and think affect every one of your trillions of cells. Really.

So if longevity is your goal, think happy thoughts. It’s proven that optimists outlive pessimists… by a wide margin. They get sick less often too.

And it makes life more fun.

If there were a happiness pill, it would be a longevity pill.

Back to my friend. I love him and hope he turns his attitude around. He’s a great guy who deserves to see his great grandchildren get born and grow up. But I discovered long ago that people are either receptive to the radical life extension message or they’re not.