Retirement planning

One of the problems many of us face when we retire is how do we keep our money to help us pay our bills and maybe have some left for our family when we die. It appears from the research that younger people are starting to recognize the steps they need to make to have a retirement nest egg. The question as to whether we are doing it is a different question and one that is not as positive as the first. The research indicates that although 73% understand the need to save only about 58% are saving.

The Alliance for Lifetime Income and HerMoney's latest research finds that nearly three in four (73%) women know what steps to take to build their retirement nest egg, and less than half (47%) know how to make their money last throughout retirement. 

How you manage your retirement funds is an important part of your retirement if you do not have a good pension plan. So where does one go for help? Women can learn a lot about retirement income planning by going to the right online resources and tools that are objective and simple to use. The Alliance and HerMoney have a variety of tools and guides to help demystify retirement income planning.

Retirement planning involves firstly determining how and where you want to live when you retire, and especially determining how much money you need to live on for your life expectancy (your income goals).  You need to figure out the actions and decisions needed to achieve these goals.  This includes identifying sources of income, estimating expenses, implementing a savings program and managing the assets you have.

Many of us cannot afford a financial planner to help us with this important task.   Luckily the Government of Canada provides various resources to help you with your retirement planning.  The headings below are links to click on to connect to services and information for each of these parts of retirement planning for those of us in Canada

Government of Canada – Retirement Planning – Services and information

Determining how much money you need for retirement

How much money you need to retire, the impact of inflation on your retirement income and more.

Sources of retirement income

Public pensions, OAS, CPP, employer pensions, RRSPs and other sources of personal savings.

Tax deductions, credits and expenses

Claiming tax deductions, credits and expenses to reduce the amount of tax you must pay.

Public pensions

The Canada Pension Plan (CPP), Old Age Security (OAS) pension and other income allowances and benefits.

Living and travelling abroad when you retire

The potential implications for your taxes, benefits and insurance when living abroad during your retirement.

Saving for retirement

When, why and how to start saving for your retirement and tips to help balance your financial priorities.

Working while collecting a pension

The impact of working during your retirement on your OAS, CPP or other pension income.

Housing options for seniors

Housing costs, options and choosing where to live when you retire.

Budgeting during retirement

Making and following a budget during your retirement years.

If you are in the United States you can go to https://www.usa.gov/retirement 

 

Thoughts on Faith

 Faith is taking the first step even when you don’t see the whole staircase. — Martin Luther King Jr.

I am not a religious person, and I find it interesting that some people equate Faith with religion. In my mind, it is not necessary to make that equation. Faith, is derived from the Latin fides and Old French feid, is confidence or trust in a person, thing, or concept. 

I have friends who in the Spring plant their garden, they have faith that it will grow. 

When you visit with a person and say to them on leaving, I will see you next week, you have faith that you and that person will be around to see or be seen.

I have a friend who is a list maker, and every night before he goes to bed, he checks his list and takes anything he has not completed to his list to do the next day. He has faith that the next day will come and that he will be able to complete his tasks.

When you make an appointment to see a Doctor or a friend you have faith that you will be able to complete the appointment.

Belief is another verb that can be substituted for faith.  A belief is an attitude that something is the case, or it is an opinion or something that a person holds to be true. Humans are by nature optimists as we believe and have faith, in our future. If we did not have faith or belief, we would not make plans, plant gardens, or say "see you tomorrow". Keep your faith, it helps us take the first step on a staircase we are unsure about.

More information on Griefing and loss

 The following is from the Bereavement webpage

Links to Online Resources About Loss – General

 Living Through Loss Counselling Society of BC

Living Through Loss Counselling offers professional grief counselling and emotional support to anyone who is experiencing stress due to life changes or loss.

 Lower Mainland Grief Recovery Society

The Lower Mainland Grief Recovery Society provides support groups for the bereaved in the greater Vancouver area.

 Creating Memorial Albums After Loss

How to make a memorial album after loss.

 Grieving and Ritual Podcast

Author and activist Sobonfu Somé on the importance of grieving and ritual.

Roberts Press

Roberts Press provides information and resources on grief and bereavement.

Recommended Reading – General

Understanding Your Grief: Ten Essential Touchstones for Finding Hope and Healing in Your Heart, by Alan D. Wolfelt, Ph.D.

 Grief One Day at a Time: 365 Meditations to Help You Heal After Loss, by Alan D. Wolfelt, Ph.D.

 Finding the Words: How to Talk with Children and Teens About Death, Suicide, Funerals, Homicide, Cremation, and Other End-of-Life Matters, by Alan D. Wolfelt, Ph.D.

 Getting Grief Right: Finding Your Story of Love in the Sorrow of Loss, by Patrick O'Malley PhD and Tim Madigan.

Life After Loss: A Practical Guide to Renewing Your Life after Experiencing Major Loss, by Bob Deits

 Grief is a Journey: Finding Your Path Through Loss, by Kenneth Doka

 No Enemy to Conquer: Forgiveness in an Unforgiving World, by Michael Henderson

 Facilitating with Heart: Awakening Personal Transformation and Social Change, by Martha Lasley

 

See more reading options at www.centerforloss.com/bookstore/ for more books by grief counsellor and educator Dr. Alan Wolfelt.

 

BC Bereavement Day

All of us experience loss and some of us don't know where to turn. In my province, there is help for those who suffered a loss.  Every year for 25+ years, the BC Bereavement Helpline has had a Sunday in May declared BC Bereavement Day to raise awareness for the needs of the bereaved in our communities. It is a day to share stories of remembrance, and feelings of loss, and to seek comfort by gathering with others experiencing similar feelings

They are a non-profit, free, and confidential service that connects the public to grief support services within the province of BC. Whether you are looking for bereavement support groups, community events, information on BC Bereavement Day, or information on how to donate or volunteer with us you will find it here. Please call the BC Bereavement Helpline and speak with one of our caring volunteers for information on our bereavement support groups, agencies, and peer-based support.

Your call is free, confidential, and anonymous. We will help you find the most appropriate support for your specific type of loss.

Call the Helpline at 604-738-9950, Monday - Friday 9am - 5pm

Toll-free 1-877-779-2223  or   Email contact@bcbh.ca 

BC Place and Science World will be lighting up blue on Sunday, May 29, to honour BC Bereavement Day, to show solidarity to those in grief, and to remember those we have lost. 

Grief Shared is Grief Diminished

The symbol of Bereavement Day is the black ribbon pin. Wear this pin to honour your loved one, help others acknowledge your loss, or to acknowledge the loss of others.

If you would like to purchase a black ribbon pin to wear in support of bereavement for yourself or your community, please contact the Helpline at 604-738-9950, toll-free at 1-877-779-2223 or email contact@bcbh.ca.

Pins cost $3 each, plus a small shipping fee.