Treat the children well

Few months present the number of multicultural events and celebrations that happen during December, here are some of the celebrations that occur around the world.

• Saint Nicholas Day (Christian)
• Fiesta of Our Lady of Guadalupe (Mexican)
• St. Lucia Day (Swedish)
• Hanukkah (Jewish)
• Christmas Day (Christian)
• Three Kings Day/Epiphany (Christian)
• Boxing Day (Australian, Canadian, English, Irish)
• Kwanzaa (African American)
• Omisoka (Japanese)
• Yule (Pagan)
• Saturnalia (Pagan) 

In the Christian world, the celebrations are mostly about children and focucsed on gift-giving. However, today we seem not to cherish children, who are the future of our species but to detain them when the seek shelter and protection.  This is a time for us to reflect and to think about how we treat each other, and importantly how we treat our children.

The following is from a wonderful blog called Brain Picking 

“You must cherish one another. You must work — we all must work — to make this world worthy of its children,” Pablo Casals, the greatest cellist of the first half of the twentieth-century, counselled humanity in the final years of a long life filled with music as a conduit of beauty and cross-cultural understanding.

Casals’s words fall heavy on the heart in an era when the world’s children are not cherished but detained at national borders treated not as radiant beacons of our shared future but as criminals. To any conscionable human, witnessing such inhumanity is at once utterly infuriating and utterly helpless-making — a devastating syncopation of feelings.

The Lebanese-American poet, painter, and philosopher Kahlil Gibran (January 6, 1883–April 10, 1931) addressed these elemental questions with sensitivity in the Prophet

Your children are not your children.

They are the sons and daughters of Life’s longing for itself.

They come through you but not from you,

And though they are with you yet they belong not to you.

You may give them your love but not your thoughts,

For they have their own thoughts.

You may house their bodies but not their souls,

For their souls dwell in the house of tomorrow, which you cannot visit, not even in your dreams.

You may strive to be like them, but seek not to make them like you.

For life goes not backward nor tarries with yesterday.

You are the bows from which your children as living arrows are sent forth.

The archer sees the mark upon the path of the infinite, and He bends you with His might that His arrows may go swift and far.

Let your bending in the archer’s hand be for gladness;

For even as He loves the arrow that flies, so He loves also the bow that is stable.

Thoughts on an idle Sat

Middle age is walking around all-day

muttering things like...

But I Might Be Funny

“What was I going to say?"

“What did I come in here for?"

"Did I already take my pill? “

“How did I get this bruise?"

"Why am I sore?"

“Where did I leave my phone?"

“Who moved my water glass?"

"Did the dryer shrink these pants?"

"That‘s it. Diet starts tomorrow."

“$2.99 a pound for apples? The nerve."

“I could've sworn that was my password."

"Who in the world is calling me at 9:00 pm?"

Here's to the crazy ones. The misfits, the rebels, the troublemakers. The round pegs in the square holes. The ones who see things differently.

They're not fond of rules. And they have no respect for the status quo so you can quote them, disagree with them, disbelieve them, glorify or vilify them. about the only thing that you can't do, is ignore them because they change things. They invent. They imagine. They heal. They explore. They create. They inspire. They push the human race forward.

Maybe they have to be crazy. Because the ones who are crazy enough to think that they can change the world, are the ones who do. Written by Rob Siltanen, an advertising guy, working with Steve Jobs for Apple’s “Think Different” campaign, not Jack Kerouac

“What do you want to do when you retire”?

Before I retired, I had dreams of doing nothing, or travelling or just spending time with friends. I have done a few of those things, but I have also done some things that were not even on my radar when I thought about retirement. I give workshops, I mentor, I am on three advisory committees to help seniors. My life is exciting but very different than I thought it would be at this time of my life.

I see this question being asked a great deal “What do you want to do when you retire”? It may be a long way off and it is a hard question to answer. By the way what you think or would like to happen probably won’t. This doesn’t mean don’t think about life after retirement, it is important to think about life after you stop earning a regular paycheque. Whether your goal is to travel, learn a new skill, indulge in hobbies or simply maintain your current standard of living, you’ll need to rely on savings to cover the cost of these activities, in addition to your everyday expenses.

By doing some groundwork well you can and learning how much you need to save, you can let your dreams drive your retirement, rather than letting available funds drive your dreams. Here are three things you should think about now that may boost your retirement savings, and some tips to help you a few years down the road.

Cut spending. Easier said than done, however, most experts suggest that you should save at least 10% of your income, with a portion of that put aside for emergencies. It’s easier than you think to find some extra cash for your savings by trimming unnecessary spending, but it does require some research and some work and discipline. I suggest if you are not saving at all start by saving 5.00 a day, (which is $1,825 a year) by setting up an automatic withdrawal program from your checking account to your savings account or an investment account. Ask the bank to increase the $5.00 gradually over time to $20 a day. $20 a day adds up as it is $7300 a year. Once you have the money flowing set up either a Tax-Free Savings Account or a Registered Retirement Savings Plan so you stay on track.

Start small. If you’re able to save as little as an extra $5. 00 a day, you can invest it in an RRSP or TFSA through mutual funds or the stock market, which can offer good returns. Whatever you do, spending less now means more for your retirement.

Maximize investments to pay less tax. All Canadians have access to a variety of tax-sheltered accounts, like RRSPs, RESPs and TFSAs, which delay or reduce taxes. Take advantage of these accounts by using as much of your contribution room as possible each year

Become debt-free. Eliminating debt, before you stop working, decreases stress on your reduced income – and leaves more room to do what you want in retirement. As soon as you can, start paying off credit cards, mortgages and loans, so you’re free of these burdens when you retire.

Consider downsizing. As you near retirement, think about lowering your larger expenses, like your home and vehicle. If you’re paying for square footage that you don’t need, opting for a smaller home will allow you to invest more for later. You can also save on car expenses, like gas and insurance, with a more affordable, fuel-efficient vehicle.

Work longer and ease into retirement. Retiring doesn’t mean you have to stop working entirely. Working fewer hours or getting a part-time job is a great way to transition into retirement and maintain steady cash flow. Try calculating how much your retirement income will be with government pensions and other programs. And, when the time comes, you can choose various registered and non-registered retirement income options, including RRIFs and annuities.

Prepare for the unexpected. Most people underestimate healthcare costs in retirement. As you age, your risk of developing a critical illness increases. It’s important that your retirement plan sets aside funds to cover personal healthcare. You can also investigate health and critical illness insurance from private companies.

TFSA or RRSP - Which one should you choose?

I know that Christmas is coming but soon after we will be looking at how we can save on our income tax and there will be many competing ads out there asking you to invest or save in a Tax-Free Saving Account or a Registered Retirement Savings Program.

When it comes to saving, the TFSA vs RRSP debate is always at the forefront. Many people are confused as to whether to choose the Registered Retirement Savings Plan (RRSP), Tax-Free Savings Account (TFSA) or a combo of both to put money away for the future. Regardless of whether you choose the RRSP or TFSA (or make use of both!), one of the best things you can do is invest consistently.

Both the TFSA and RRSP are investment vehicles that reduce taxes on investment income but depending on your circumstances, one might better for your money than the other. The TFSA is more flexible and offers a better tax benefit than the RRSP, but doesn’t have as high contribution room. The RRSP will probably let you set aside more, but has stricter rules around when you can withdraw your money, and what for. Ultimately, everyone should aim to have both an RRSP and a TFSA and spread out the savings across both accounts. Two of the most common investment questions are: “What’s the difference between an RRSP and TFSA?” and “Which one should I choose?”

Despite their names, neither the RRSP or TFSA have to be a savings account. You can and should hold a variety of investments in your accounts such as GICs, mutual funds, stocks, bonds, and ETFs. Both of these accounts should be more appropriately named “Tax-Free Investment Account” and “Registered Retirement Investment Plan” because investing is really the best way to unlock the power for these accounts.

The real difference between the RRSP and TFSA come down to their contribution limits and withdrawal restrictions, as well as how and when you pay taxes at these events.

The differences between a Registered Retirement Savings Plan (RRSP) and a Tax-Free Savings Account (TFSA) are outlined below. Which one you should choose depends on a few factors: your current tax rate, your reason for saving, and your future tax rate.

An RRSP is mainly intended for retirement savings.

·       Annual contributions are tax-deductible.

·       Your contribution limit is based on earned income.

·       Your contribution room begins at whatever age you begin working and filing a tax return.

·       The contribution limit for 2019 is 18% of the earned income reported on your 2018 tax return, up to a maximum of $26,500.

·       If you don’t contribute to an RRSP, your contribution room accumulates and you can contribute even larger amounts in the future.

The TFSA was introduced by the federal government in 2009, as a way for anyone 18 or older to set money aside tax-free throughout their lifetime.

·       Annual contribution limits amounts have varied over the years.

·       From 2009 to 2012, the maximum for each year was $5,000.

·       From 2013 to 2014, the amount increased to $5,500 for each year.

·       In 2015, the amount increased again to $10,000.

·       From 2016 to 2018, the amount decreased to $5,500 for each year.

·       In 2019, the amount increased to $6,000.

·       TFSA contributions are not tax-deductible and contribution room accumulates if unused. Anyone who was 18 or older in 2009, and has not yet contributed, will have $63,500 of contribution room available in 2019.

The chart below shows how different tax rates during your working years and retirement years can affect your decision to invest in an RRSP or a TFSA today, and the after-tax value after 20 years.