Friday, December 1, 2017

Family history is it important to you?

A post on A Satisfying Retirement led me to my thoughts, on this issue. In his post, Bob Lowry (The blog's author) asked, What about you? Are you interested in all the twists and turns of your family's past? Do you have old documents that trace your ancestors back to some historical event? Or, like me, do you prefer to let sleeping dogs lie. You aren't particularly motivated to learn about all that?

Bob also posted a link to a site which asked and answered the question Whys is Genealogy important? The short answer according to Bob is  ... some of the reasons include validating family stories, tracing medical conditions or land ownership, finding birth parents and any links to famous people or historical events.

To answer Bob's question I have not been particularly motivated to learn about my history but events and times change. For me, it was a Facebook message that moved me to take some more action.

On my mother's side, I received a message on messenger from a cousin who was exploring his genealogy and had some questions, which I answered. He had been in touch with an elderly cousin who had completed a family tree for our grandmother and wanted more information about our grandfathers family, so I undertook to gather all the information from my brothers about their families and am just about complete in that task. I hope to send it off to my cousin and receive a copy of the updated family tree for my grandmother on my mom's side. All I know is that both my grandfather was born in a village (we don't know which one) in Romania and came to Canada when he was 14. My grandmother was born in1898 in Ciucurova, Dobrogea Austria (now Romania). and moved to the US (North Dakota) with her family and came to Canada when she was 2 with her 11 brothers and sisters and settled into the town my grandfather had moved to from Romania.


When we went to our first family reunion on my father's side of the family back in the 1980's we learned that my grandmother's family had come from Ireland to Canada somewhere between 1840 and 1850, along with many other Irish settlers and the family had settled in Ontario. I was given the names of my great grandparents (Ramsey and McTeer) and learned that someone in the family had created a genealogy chart, which a cousin promised to send to me. I never received it and I forgot about it until recently. I also found out that my grandfather had come to Canada in the 1920's from the United States, somewhere around Michigan area to hide out for a while. We are not sure why he came to Canada, as he had a career as an Accountant, but when he came to Canada he became a farmer where he met my grandmother bought then lost his farm in the 30's, and became a tenant farmer and raised a family. I have over the years tried to find out more about my grandmother and grandfather on my Dad's side of the family but have had little luck.

Going through the family history is important and I hope to continue to find out more about what must have been some fascinating stories.





Wednesday, November 29, 2017

How much do I need for retirement?

This is a great question and of course, the professionals will tell you that you should be prepared to live on about 70% of what you currently make. Calculating the amount of savings needed to retire is not necessarily simple or straightforward.

There are general “rules of thumb,” such as saving 10 to 15 percent of income – which is one of the first things a Google search for “how much should I save for retirement” would suggest –which is better than no saving or planning guidelines at all. But relying solely on such maxims, particularly for a highly personalized process such as retirement planning, risks glossing over critical aspects. Health care expenses, for example, will be highly variable based on health status and lifestyle factors.

On average, Boomers believe expenses for health care will consume 23 percent of their income in retirement, significantly lower than the 33 percent of income those aged 60 and older currently spend on health care. Of even greater concern, an increasing number of Boomer's estimate costs at the low end of the scale, as 30 percent believe they will need less than 10 percent of income for health care.

Besides health care costs Boomers have to figure out how long they will live, the longer you live, the more money you need to save. One way to think about how much money you will need is to examine what Boomers who are already retired are spending. This will give you a starting point. 

Boomers have a sense of what they think they will need when they retire, and that number is about $35,000 a year. This is close but the actual amount being spent by people already retired is $46,757 according to the Bureau of Labor Statistics Consumer Expenditure Survey, 2013.

We have three pillars of safety in Canada for people as they approach retirement. The first is the Old Age Security Income, the second is the Canada Pension Plan, the third is Personal Registered Retirement Savings Programs and finally, we have Employer Pension Plans. Employer Pension plans are either a defined benefit plan or a defined contribution plan.  

Boomers are spending about $47,000 a year in retirement, where do they get that money?

Here is a very simple example:
Old Age Security is about $6,480 a year
Canada Pension is about $8, 800 a year—This is based on the average payout in 2017 and individual rates will differ widely.

Between OAS and CPP in Canada, a retiree will receive about $15,280 a year. If this is the only income you receive then you may be eligible to receive the Income supplement of between $500 and $800 if you qualify. So that adds another $6,000 to $8,400 and could bring your income up to approximately $22,000 a year.

The rest of the money needed will come from either your employer pension plan if you are lucky to have one or your own savings.  Most Canadians do not have an Employer Pension Plan so they will have to save money in their Registered Retirement Saving Plan.

Most Canadians will be short about $23,00 a year if we continue to spend like those already retired. How much do you have to have to generate an income of $23,000 a year? You may need to buy an annuity of $500,000 or other investments to generate that income when you turn 65.

To save $500,000 at age 45 you will need to save about $1,450 a month. Or if you were 35 you would need to save about $800 a month for retirement.


Retirement savings becomes complex really quickly and most people do not understand the math involved. It is important that you sit down, (the earlier the better) with a qualified retirement specialist who can chart your own path to retirement.

Tuesday, November 28, 2017

Counterfeit

Another challenge from BrewNSpew The event is to Write a story or poem of 5 Lines or Less using the word counterfeit. Please drop by and join the challenge at Patricia’s Place. Here is the first by -Eugenia

Dang counterfeit news

Is what’s been taught for naught

Just noodle the thought

The wicked have become insipid

The whoo’s vs who’s is not amused

Here is mine, based on a movie from 1936 and a book which was written in 1984

Counterfeit lady,
Ever so Shady
Filmed in the 30’s
Did not meet with success
Recreated in the 80's with much more finesse

Monday, November 27, 2017

How Much Exercise Is Enough?

According to the Centers For Disease Control (CDC), the average person 65 years or older, exercise for seniors should ideally include both:
    a) Aerobic (cardio) exercise to increase heart and lungs activity;
    b) Plus strength training for the various muscle groups.
The major muscle groups include arms, shoulders, chest, abdomen, back, hips, legs. Exercise for seniors should include using these muscles groups several times per week.
Here is a simple breakdown of the ideal amount of exercise for seniors:
  • 2 ½ hours of moderate aerobic (cardio) exercise each week (including brisk walking) and muscle strengthening for all muscle groups a couple days a week; OR
  • 1 hour and 15 minutes of vigorous aerobics and muscle strengthening for all muscle groups a couple days a week.
Any of this can be done in (at least) 10-minute segments throughout the day and week. It takes a good 10 minutes of any activity for it to really be effective. Stretching and joint exercises can also be included. And what is considered moderate exercise for seniors, may be vigorous for others. Like walking.
It depends on what shape your body is in (and we're not all going to look like the picture here), what you are used to, and your overall health. Moderate exercise will simply make your heart beat faster and you will breathe harder.
With vigorous exercise like running, you will also break into a sweat. And if the mere idea of running makes you gasp in advance (like me), then just walk. As rapidly as possible. I guess they call this "power walking." Walking alone will make me break into a sweat after a while.
Sweating is healthy for you, of course, for your liver and for cleansing toxins out of your body. Just be sure to shower afterwards, or the toxins can be reabsorbed, one of my health professional friends has advised me. And as we age we should always consult our doctors or health professionals regarding exercise for seniors and middle-aged folks too, especially if we have health issues.
Exercise for seniors is meant to be flexible and fun, even social. If you don’t know where to start, check out the following possibilities in your area:
  • Senior center 
  • Fitness club
  • Church groups
  • Some local clinics and wellness centres offer exercise classes
  • YWCA or YMCA
  • Community ed centre
Whatever you choose to do, be sure to always consult your medical professional first if you have any concerns. And pay attention to your own body. The most important thing is – to get moving – even in a small way! And consistently!
Remember, exercise for seniors… 
* Is good for your heart
* Stabilizes blood pressure
* Increases proper lung functioning
* Improves back pain
* Decreases joint pain and stiffness
* Is excellent for weight control
* Strengthens the immune system
* Helps manage diabetes and glucose levels
* Increases muscle strength
* Improves flexibility
* Helps with arthritis pain, including rheumatoid arthritis
* Helps maintain good balance
* Improves overall walking ability
* Reduces falls and injuries
* Strengthens bones and improves bone density
* Lifts your mood and helps with depression
* Calms and relaxes, and can ease anxiety
* Improves ageing and sleep problems
* Lessens daytime drowsiness
* Improves restless leg syndrome (RLS) and leg cramps
* Can provide important social activity too