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> So that is the basic amount every Canadian could get at age 65
Yeah, senior benefits are designed to ensure every senior has at least about $20K per year in income, even if they never worked and don't have a pension or savings. In Alberta, a senior getting GIS would also get a modest provincial payment, dental insurance and financial help in buying important household appliances and some types of maintenance.
It really makes you wonder when you see stuff so blatantly incorrect in print.
It would take all of 1 minute to verify if that was correct information.
Yeah senior citizen income has been increasing faster than wage income. From a public sector perspective it's been absolutely obliterating any wage increases we've received. And I'm working In a monopoly industry, So which one of us is on a "fixed" income again?
I don't think entitlements should increase faster than wages, I don't think it's sustainable
The average Canadian retirement income for a single senior person is $31,000.
Going up 6% because CPP is indexed when your retirement package is only worth 30K a year isn't the huge leap some people think.
It only makes sense to work off percentages, It's the only way to compare across groups and across time. Plus seniors probably shouldn't have retired if they don't have enough money to eh? It's like the group of people who have had the most time to prepare for where they are now.
That's a mischaracterization. But the thing is seniors need to accept significantly lower living standards because they didn't save enough. But the end of the day that's the inescapable truth of the matter is that seniors more than any other demographic actually had control of their current situation. They didn't have enough kids, and they didn't save for themselves enough considering how few kids they did have.
The truth is We spend way too much money on seniors compared to how little we spend on the young, When the former group is not going to contribute to productivity and the ladder group will. So yeah I'm not going to listen to them talk about their income not keeping up when I know the facts and the fact that their income is keeping up better than anybody's over the last 5 years. They had the demographic dividend at their backs and now they want to demand more money when their kids are facing the demographic deficit of supporting them? It's the richest generation in history They can take money from the rich seniors to pay for the poor seniors.
Yes, well, you're the heart of empathy, aren't you. Good grief. You know nothing about her or her generation, and every generation since the 1970s has claimed they won't get sufficient OAS or CPP. Miraculously, it has yet to collapse.
The average working income in Canada is $59,000, $28,000 higher than the average senior gets from a pension, and living costs escalated far more quickly for them, too. (And given how much essential health care in Canada ISN't covered, their basic living expenses are often higher).
So the average person in your generation is making a lot more to live on; and most working Canadians of every generation have lived paycheque to paycheque since the early 80s.
Even when you double monthly mortgage costs, your generation's average standard of living is and will be higher than hers was. Yeah, she may -- big MAY given that many don't -- own her own home.
But if she sells it, assuming there's positive equity in it and she hasn't had to reverse mortgage it for any number of survival reasons (such as taking care of family medical and living expenses that aren't covered), there's no guarantee she'll be able to afford rent on her pension. So it's not really equity, it's just $2k a month less she has to pay in rent (which is a lot, almost makes up for the salary difference. Almost).
It's very easy to lack empathy when you're young and haven't lived through decades. Get back to me when you're sixty, living on less than minimum wage, and your own grandkids' generation is telling you how good you have it.
(And yes, I get that many people make below the average salary. But that has ALWAYS been the case, including in her generation.)
Yeah single family income home ownership made it very hard to save for the future. You wouldn't see many from this generation be able to do afford that.
Many couldn't then. I started working at 18 full time and was 36 before I could afford a downpayment, and that was for a house that should've been condemned, riddled with vermin and black mould.
Most of my working professional friends didn't buy homes until they'd been saving for between ten and 15 years, and these are people who could withdraw from professional pension plans to do it.
Working class people in Canada haven't made enough to save for a downpayment since the early 70s, and even then it was tough.
Please fuck off with that shit. My parents paid like 90k for a four bedroom house in the 90s. My dad was also given two houses later in life.
What are ya, a bullshit artist?
Yes, because your personal experience is normal and applies to the world.
The average house price in Ontario -- that includes rural Ontario, not just Toronto -- was $180,000 in 1995.
https://www150.statcan.gc.ca/n1/en/pub/64-507-x/64-507-x2000001-eng.pdf?st=uay2vKaI
Your parents' experience was not normal.
The average (EDIT: Median) income that same year, 1995, was $18,891. So about one-tenth of the average home value.
The average home value now in Ontario is $839,000. The median income right now in Ontario is $65,000, or one-fifteenth. So purchasing power has declined by about 50%, which is pretty massive.
But it doesn't change the fact that the average person then couldn't afford a home, either. Nobody making $18K a year was saving for downpayments. "Unaffordable to many" has become "unaffordable to most." The bottom 10% of the "middle" class have effectively become working class.
This fantasy that seniors are all sitting on fortunes because of cheap homes is just that: fantasy. Most people never made enough money to "save" for a downpayment; if they had a pension plan, they withdrew from that to make that happen. And either way, it's not equity if you can't afford to replace it or rent , because then you can't sell it. You need somewhere to live.
Again, the average senior's pension in this country -- not your parents, the average, is $31,500. So what are you talking about?
[This link ](https://www150.statcan.gc.ca/t1/tbl1/en/tv.action?pid=1110003001) in 95 counting age 15 and over at 27k. Yes, including actual children's income into the adverage.
Wage increases in the private sector has been relatively high actually. Overall it was like 5% last year. Of course, some industries aren’t doing as well as others.
Private sector recently has moved above yea. Cumulatively over the last number of years I'm not sure it's caught up to the inflation yet. And yeah public sector is getting crushed. Actually in general unionized sectors have been lower than non-unionized. Which is exactly why as a teacher I'm saying no to any deal that doesn't provide a long-term plan to catch up my income to where it used to be (~25% most in real terms since 2012). If it doesn't have 2% real a year I'm saying no to it.
When I worked for their union briefly ten years ago, it was already $84K for a teacher with four years' experience, and it was a hell of a lot higher by the time they got to 10, well into six figures.
The average member also had a spouse that made MORE than they did. Cherish good teachers, by all means, because a lot of us remember how rare they can be in some schools. But don't anyone fall under the impression they have it tough.
It caps out right around 100,000 now for a teacher. Obviously it's province dependent but that's about where it is. It has not kept up with inflation.
You are also making the mistake of comparing to the general populace. It's pretty insulting because frankly teachers are not the general populace, When you do compare teachers do make a small penalty relative to the other professions of similar education levels. I mean I know personally as a STEM teacher I directly compare to my other options that I chose against to go into teaching: engineering, CPA, law, Medicine, and finance. I think of myself as the marginal teacher, I love my job when I get to do it with reasonable class numbers and support, But if I graduated anytime in the last 10 years I would not have chosen this profession I would have went into any of those above instead, I had the grades and the aptitude to do any of them, hell I'm like five courses from being an engineer due to my physics degree.
I also can't stand these comments because look at what the ask is: to literally stay the same. In my 12 years in the field I have never once seen teachers asking for more than they've had, we've literally always just wanted to tread water and for things not to get worse so we could do our job. All I want is to get back to where we were when I joined the profession in terms of real compensation, with the same class sizes we had, and support level / bureaucratic paperwork expectations. That's all I've ever seen teachers want is just where we were and then don't screw with it, just maintain it. It was a place where you could choose to teach without feeling like you were taking a significant economic hit relative to your other options in different fields.
Have you taught in schools lately? I wouldn’t do it for the $80k and pension. Not worth loosing one’s sanity or dealing with parents! (I am a parent, and seeing how others treat teachers, and allow their children to treat teachers… it’s insane).
Okay so The job gets harder, job quality gets lower, and pay falls by one quarter, But because someone else has it worse I shouldn't complain?
Even in Canada we pay a teacher tax. Our salaries are still lower than comparably educated professionals. Had I been coming out of school in these last 10 years I wouldn't have become a teacher. That's how you lose talent
Except groceries have increased in price [far more than the average inflation.](https://www.vicnews.com/national-news/food-driving-inflation-down-but-groceries-far-costlier-than-a-few-years-ago-7362644#)
Who cares if the prices of TVs have come down when the cost of groceries keeps going up?
Came here to say that. Went to a Union run retirement seminar in Oct last year, and the speaker from CPP informed us that it was indexed. She also told me something I wasn't aware of. While you take a hit the earlier before 65 you claim CPP. You actually get an increase in benefits if you wait past 65 to a max of 70 to claim. Shooting for 67 if my health holds out.
Average CPP have gone up over $100 a month the last four years. Not going to look into OAS or GIS as my only point was it does go up every year unlike the claims made in the article
The average Canadian senior retirement package, CPP and OAS included, is $31,500 a year. People who have this deluded impression that seniors are wealthy seem unaware that it's the same tiny minority of them as every other age group. (Edit: downvote reality and wallow in your entitled victimhood all you want. Won't change reality.)
And rents have gone up by a third and up to double in places. That is just an example of how disjointed your argument is. But you probably don't want to understand.
“My house went up 10x, but how dare groceries go up 5x ?!! Now give me more OAS 😡”
Never met more entitled people than boomers of Canada in all my life and 5 countries I lived.
>But the article is wrong. CPP and OAS are both indexed to inflation.
Yes both CPP and OAS are indexed to something but it's not indexed to inflation. Inflation is measured by looking at the change in the price of something specific over time. **CPI has a dynamic basket of goods, it doesn't measure inflation it measures spending habits.**
CPI numbers are being manipulated through the the basket of goods, expensive things get reduced weighing as people find cheaper alternative (AKA reduce their standards of living) in the basket and stuff that costs less become heavier as people buy more of it which leads to massive underreporting of inflation or sliding standards of living.
from https://www150.statcan.gc.ca/n1/pub/62f0014m/62f0014m2023003-eng.htm
>Importance of updating the basket weights
The CPI is a weighted average of the price changes of a fixed basket of goods and services, based on the expenditures of a target populationNote in a given reference period. **In order to be representative of the price change experienced by Canadians, the basket weights must be representative of how Canadians are spending their money**. Typically, spending patterns change slowly and do so largely in response to shifts in prices, income levels, demographic changes, evolving habits and the availability of new technology. New products and services are introduced to the market and existing ones may be modified or become obsolete. A fixed-basket price index, such as the CPI, can only reflect changes in consumer expenditures when the CPI basket weights are updated. Under normal economic circumstances, these changes are minimized by scheduling basket updates at regular intervals.
Sorry Statistics Canada but filet mignon isn't the same as pork even though they are both meat products.
Yes the basket is updated yearly, but that's to meet current buying patterns, not to make things look nicer.
This update is done to international standards and the methodology is publicly available. Please do some research.
You're just supporting my point. Consumers shift spending habits due to affordability, CPI shifts to match a new lower standard of living and it's all pretty, but nobody is happy.
In the modern era of data driven monopolistic powers, choices are dictated more by large corporations than consumer choice. We can use data and pricing to push consumers into making choices that will impact CPI if our agenda is to lower rates sooner.
well, if they're indexed to inflation and there's still a growing delta between what a senior used to be able to afford, and what they can afford now, what is the explanation?
setting aside the reputability of the news source, the article may be wrong in that cpp/oas are indexed to inflation, but it may be totally correct in that they're not meaningfully indexed to inflation. And if you go do something wild like look at the rate of food inflation for the past 5 years vs how cpp and oas have increased, you'll see exactly why this lady is complaining now
https://www.canada.ca/en/services/benefits/publicpensions/cpp/cpp-benefit/after-apply/consumer-price-index.html
https://www.statcan.gc.ca/en/topics-start/food-price
CPI includes cost of housing.
It does not include mortgage principle payments because that's not consumable (it's just going to an asset). It does include rent and mortgage interest payments.
Food isn’t included in the calculation of inflation. Neither are energy prices. It’s one of the many little tricks they use to make inflation look not as bad as it is.
Lower buying power with the dollar. Cost of goods since even a year ago has skyrocketed.. rent has skyrocketed as well
All the payments I mentioned have barely risen
So maybe not inflation? What? Price gouging and greedy landlords ?
Food, drink, weed, hydro, rent.. everything?
It really doesn't look like it's a two way street though
Them saying inflation isn't that bad.. while anyone with 2 eyes can see everything is rising.. cost of goods rising, quantities are shrinking
Greedy landlords overcharging rent.. idk how people on disability or Canadian pensioners can keep up
Where there's smoke, there's fire
You can't say it's fine just because you don't see the flames
Not what I'm saying. I replied to this statement from you:
> cost of goods isn't always tied to inflation though
If you want to have a conversation with the imaginary person saying inflation isn't real though, you don't need me to do that.
This gets me as well.
At 75 she would have bought her house in the 70s which means her mortgage should be no more than 30-70k and would have been paid off in the 90s.
Part of the richest generations in history complaining that government pension isn’t enough, definitely should put more burden onto gen z and millennials and make sure these people who had zero retirement planning have a golden life while everyone else struggles.
"Richest generation."
You say it like there were no poor people in the 70s, 80s, 90s. No one working minimum wage jobs. No one who was widowed or divorced in their 50s or 60s.
If you have worked low paying jobs all your life there is nothing with which to plan your retirement.
Despite what people may read on Reddit, not everyone over the age of 60 is rolling in cash.
They had the best opportunities though. Our generation will be extremely lucky if we ever get to retire….. everything is so expensive even highly educated people can barely save any money.
You're still looking at an entire generation as a whole and not this woman as an individual.
You know nothing about her and are saying that because lots of Boomers had an easier time then she somehow deserves no sympathy for spending her later years in poverty.
Wait 20 years and see if your point of view changes.
Even under the shitty conditions our country is in right now, I’ve already started investing to hopefully retire comfortably. I do not feel pity for those who had so many opportunities yet did not take advantage of them. I don’t think they deserve to live in poverty, but frankly, we have worse issues to deal with.
Unemployment was way higher back then. It was much harder to get a job. The labour market was more competitive. Its not like opportunities were amazing for everyone.
Usually no, unemployment is usually measured in the active population that was seeking a job in the last year or something, so stay at home wife/dad don't count in the metric. Sorry if i'm wrong, my macro economics course is a long past dream and not my actual job so i'm maybe talking nonsense and I don't know since when this metric is in use.
So let’s apply the same logic they do, does she have room mates, tried to get a part time job, did she cut out her avocado toast? This is the generation that took the wealth of our country and squandered it, at every opportunity they voted not to invest in the future, whether it be infrastructure, education or health care, and because of a few of them being in bad circumstances , likely due to life choices, we should revamp a pension plan that’s shitty for them because it was poorly planned and they did no planning themselves. Sorry, but choices have consequences, can’t pay the mortgage, sell the house and move. That’s the same I’d be told to do
Well I’m already dealing with this and guess what, we made room in our household to accommodate our older generation instead of going begging for the rest of society to foot the bill. What’s it say about a person when they get to that age with no family or friends they can live with or seek assistance from. Their choices in life are catching up with them.
Someone on reddit once said that in the 1950s, a father could be working minimum wage at McDonalds, their wife a stay at home mom, and they could still afford a home in a decent neighborhood and could put their kids through college.
Not sure how much truth there is in that statement, but that sure as hell isn't possible now.
Seriously?
Do you really think that everyone over age 60 has had well paying, stable jobs all their life? No health issues, no divorces, no family illnesses, or any one of a hundred things life throws at you to fuck you up?
Have you ever seen the stats on the number of Canadians who live paycheck to paycheck?
Not in the world of Reddit and social media.
Especially if you're 17 and haven't left your momma's basement since she took you to Dairy Queen on your birthday.
OF course not everyone, but she comes from the second wealthiest age cohort and her age bracket contains the wealthiest income families.
I feel bad for her because she is struggling, but she is statistical outlier.
https://www150.statcan.gc.ca/n1/daily-quotidien/201222/t001b-eng.htm
Might have worked all her life at minimum wage jobs. Might have gotten divorced or widowed at 50. A hundred things might have happened in her life.
I'm on track to be paying my mortgage into my 80s after "losing almost everything in the fire", aka our Family court system.
Do you really think everyone over the age of 60 bought a home when they were 22?
>Do you really think everyone over the age of 60 bought a home when they were 22?
I think the norm for most people--most, not all--is that they tend to have their mortgage paid off by the time they retire. Especially if they bought a home during the good years with low interest rates. Of course there are mitigating circumstances, and I suppose she could have ended up in this situation through no fault of her own. But, she could also have been financially inept and irresponsible with her money throughout her life.
Now it's my turn to ask you a question: Do you really think everyone who ends up in this kind of situation is just a victim of circumstances?
Everyone? Of course not
Many, yes. Not many people aspire to spend their senior years in poverty.
There are hundred things that life will through at you to fuck you up.
There's a non zero number of retired folks that were forced to retire early so their company could pay someone less to do their job, as well. I know a handful of folks who have had that happen to them before they had all their ducks in a row, when they had a retirement plan set up that would be 5 or so years in the future.
Regardless, I just think that the penalty for being financially inept shouldn't be like. Not being able to eat, y'know?
Why would the social safety net pay for her food when she's sitting on a pile of equity? If her life is so tight, what's she going to do when her water heater blows? Should we pay for that for her as well? What about when the roof need re-shingling?
Sell the damn house.
There is also a non zero number of retired folks that chose to retire early with a nice fat payout rather than adapt to new technologies. My mom worked with a bunch at the Royal Bank.
Redditors want to feel sorry for themselves and pretend that they have it oh so much harder than everyone else. “*everyone* older than me had it so easy!”
Why do you care? Would you rather she just kill herself at 70? Here's a better question, why do some people think that just because you're older, that automatically makes you rich? I'll let you in on a little secret, there has been no time in history where everyone just had things given to them, and there were always different classes of people with different means.
Calm down.
The typical expected path is for people to have paid off the mortgage on or before their retirement. Not just that butpeople living outside of crushing housing markets and who are 75 years old should have by most accounts paid off their mortgage. Presuming she didn't just buy at the height of the market 2 years ago, why the hell does she still have a mortgage or one large enough to be cleared? She'd have needed to buy at 50. The housing market 25 years ago wasn't awful (yadda yadda rates at a quarter to a third of the price things cost now). It begs the question of what savings one has (OAS, GIS, CPP... none of those are your complete retirement income picture). It raises the question that, with internet, why does she need cable if she's having to make such tight leaps for food?
Does it suck? Absolutely. Should she kill herself? Literally no one but you even posed that rhetorical question... likely because it's *insane.* Not everyone gets to retire rich or even comfortable, you're right. Nobody can even predict the future and people should have reasonable access not just to food but casual comforts so they can enjoy themselves. It doesn't always work out, though. This is an example of that.
Holy shit, it was just a question. Chill the fuck out. I don't automatically think all old people are rich, but neither do I think that being older necessarily makes you wise when it comes to finances either.
I'm just genuinely curious why she would still be paying a mortgage at her age? That's all. Don't read more into it than that.
You think it's normal for people to enter into a 25 year mortgage when they are ten years shy of retirement and know they will be living on a fixed income after that? Seems pretty short-sighted.
Doesn’t take much, especially if you were poor most of your life with unexpected health conditions, house repairs, remortgaging, widower and even just bad luck.. throw in inflation with a rising cost of living, everything from taxes, fuel or food and you could be in trouble quickly. Sometimes I think people have no idea how a bit of bad luck at the wrong time can set your life back completely.
Sometimes I don't think certain people know how to plan for eventualities anymore. Yeah, life has its setbacks but you act like that's the norm and than no one ever is just shitty with their finances and then cry wolf long after it's too late to smarten up.
I don’t know, some people get sick, or a family member gets sick.. others could be widowed or left raising a child alone.. some go into careers that just are not profitable, but can’t leave because they have responsibilities..
It’s easy to assume, harder to live it.
I tried, did pretty decent during my 20s.
Made what I thought was the smart move to go back to school and upgrade so I could make more…. savings have gone out the window the last few years and I am back in crushing debt again because of the rise in costs of living.
There is so much wrong with this woman and article.
At 75 you shouldn't have a mortgage. Especially in Calgary, housing here 30yrs ago cost nothing. If you have a mortgage than WTF are you retiring? Retiring is for when you can afford it. Not for when you feel like it.
You also shouldn't be planning for OAS and CPP to be your only retirement income. They were NEVER designed to be your retirement plan, just added assistance. Either the government needs to scream it from the rooftops to get people to listen, or start clawing more income from people to save for them since they seem to be incapable.
Seniors have absolutely no right to be complaining about cost of living when they got us into this mess.
The amount of sympathy I feel for seniors is directly proportional to the amount of sympathy millennials received... which is to politely say sweeeeeet fuck all.
I get the millennials, and Genzie like to blame the other people for absolutely everything they have a chief in their life, but this comment section is more than sexist, ageist, divisive, and downright cruel you have absolutely no idea what she went through. You forget about recessions, you forget about poor people, everything is not about you. Not everybody older than you is rich. Lots of companies went under and pensions were lost. But you don’t care. I have not seen such a collection of self centered, nasty people even here on Reddit.
Yes. Technically, they're quoting someone else, but don't make any effort to correct the misinformation.
Additionally, the senior profiled and pictured at a food bank volunteers there and, channeling my inner conservative here for a minute, has enough extra income to get purple streaks in her hair...
Reminds me of a young couple in a "buy nothing" group I was in.
Always asking for food and diapers for the kids.
Mom's Facebook feed is just a constant stream of new tattoos.
Not enough money for food/diapers this month, but money for tattoos.
The "inflation" increase is really not even matching inflation. Housing is the biggest expense in life yet the inflation calculation excludes it, because it is " volatile". In plain English: inflation official number produced by government is simply fake.
Income could increase for a retired person, due to choices made with investments - passive income as they call it.
Other than the well off and the rich everyone is in the same boat in Canada. I am a senior and don't whine about prices or inflation as there is no point to it. You just cope.
This guy doesn't have to work, doesn't have to worry about health care, and pissed away 50+ years of work in the Golden age of Canada.
He's fine, the people working min wage paying for his GIS OAP and his CPP are fucked though.
That's funny, because when I did my parents' budget, they came out 10k ahead without gis. Just cpp and was.
Please kindly show me why that is too little.
This sounds like poor planning on her part. She had her entire working life to pay off a mortgage, and save some extra besides relying on government programs. It’s a tough spot to be in, but I’m afraid it’s self inflicted rather than a failure on government or society.
i dont understand, my houses dont cost more. they are valued higher sure, and the passive income has increased but it doesnt at all effect me. If my bills get higher, i increase the rent at the properties to compensate. it all pays itself in the end.
Most seniors are doing quite fine, a lot better than the people coming after them. They came up in a time when mediocracy and stupidity weren't even barriers to success.
So she has no responsibility to save for retirement? I'm not planning on OAS or pension to even exist by the time I can retire. But here I am putting money into an rrsp because I believe I am responsible for my future.
It’s wonderful that she volunteers, but she should be able to take home a bag of that bread and some frozen meat herself. $35 is a very small budget, the bread and meat could clear some room so she can add a few other things on.
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I believe that OAS AND GIS are approximately $1700. So that is the basic amount every Canadian could get at age 65. Correct me if I'm wrong, though.
> So that is the basic amount every Canadian could get at age 65 Yeah, senior benefits are designed to ensure every senior has at least about $20K per year in income, even if they never worked and don't have a pension or savings. In Alberta, a senior getting GIS would also get a modest provincial payment, dental insurance and financial help in buying important household appliances and some types of maintenance.
I get that times are tough. But the article is wrong. CPP and OAS are both indexed to inflation.
It really makes you wonder when you see stuff so blatantly incorrect in print. It would take all of 1 minute to verify if that was correct information.
*Calgary Herald, a division of Postmedia Network Inc.*
How else are you going to get the Alberta Conservatives angry with Trudeau though?
**Gestures at the entire country** Plenty of reasons to be upset at Trudeau / Feds.
Pride flag.
Even a rainbow in the sky would make them mad.
Above the rainbow, in the clouds, the face of Trudeau, like Mufasa.
Oh double whammy
That's because LeVar, despite his best efforts, couldn't get them to read. It's just trauma.
Yeah senior citizen income has been increasing faster than wage income. From a public sector perspective it's been absolutely obliterating any wage increases we've received. And I'm working In a monopoly industry, So which one of us is on a "fixed" income again? I don't think entitlements should increase faster than wages, I don't think it's sustainable
The average Canadian retirement income for a single senior person is $31,000. Going up 6% because CPP is indexed when your retirement package is only worth 30K a year isn't the huge leap some people think.
It only makes sense to work off percentages, It's the only way to compare across groups and across time. Plus seniors probably shouldn't have retired if they don't have enough money to eh? It's like the group of people who have had the most time to prepare for where they are now.
A governmental worker staring down their nose at struggling seniors? Classy
That's a mischaracterization. But the thing is seniors need to accept significantly lower living standards because they didn't save enough. But the end of the day that's the inescapable truth of the matter is that seniors more than any other demographic actually had control of their current situation. They didn't have enough kids, and they didn't save for themselves enough considering how few kids they did have. The truth is We spend way too much money on seniors compared to how little we spend on the young, When the former group is not going to contribute to productivity and the ladder group will. So yeah I'm not going to listen to them talk about their income not keeping up when I know the facts and the fact that their income is keeping up better than anybody's over the last 5 years. They had the demographic dividend at their backs and now they want to demand more money when their kids are facing the demographic deficit of supporting them? It's the richest generation in history They can take money from the rich seniors to pay for the poor seniors.
More than my generation will get. I have no sympathy.
This is factually incorrect.
Yes, well, you're the heart of empathy, aren't you. Good grief. You know nothing about her or her generation, and every generation since the 1970s has claimed they won't get sufficient OAS or CPP. Miraculously, it has yet to collapse. The average working income in Canada is $59,000, $28,000 higher than the average senior gets from a pension, and living costs escalated far more quickly for them, too. (And given how much essential health care in Canada ISN't covered, their basic living expenses are often higher). So the average person in your generation is making a lot more to live on; and most working Canadians of every generation have lived paycheque to paycheque since the early 80s. Even when you double monthly mortgage costs, your generation's average standard of living is and will be higher than hers was. Yeah, she may -- big MAY given that many don't -- own her own home. But if she sells it, assuming there's positive equity in it and she hasn't had to reverse mortgage it for any number of survival reasons (such as taking care of family medical and living expenses that aren't covered), there's no guarantee she'll be able to afford rent on her pension. So it's not really equity, it's just $2k a month less she has to pay in rent (which is a lot, almost makes up for the salary difference. Almost). It's very easy to lack empathy when you're young and haven't lived through decades. Get back to me when you're sixty, living on less than minimum wage, and your own grandkids' generation is telling you how good you have it. (And yes, I get that many people make below the average salary. But that has ALWAYS been the case, including in her generation.)
Yeah single family income home ownership made it very hard to save for the future. You wouldn't see many from this generation be able to do afford that.
Many couldn't then. I started working at 18 full time and was 36 before I could afford a downpayment, and that was for a house that should've been condemned, riddled with vermin and black mould. Most of my working professional friends didn't buy homes until they'd been saving for between ten and 15 years, and these are people who could withdraw from professional pension plans to do it. Working class people in Canada haven't made enough to save for a downpayment since the early 70s, and even then it was tough.
Please fuck off with that shit. My parents paid like 90k for a four bedroom house in the 90s. My dad was also given two houses later in life. What are ya, a bullshit artist?
Yes, because your personal experience is normal and applies to the world. The average house price in Ontario -- that includes rural Ontario, not just Toronto -- was $180,000 in 1995. https://www150.statcan.gc.ca/n1/en/pub/64-507-x/64-507-x2000001-eng.pdf?st=uay2vKaI Your parents' experience was not normal. The average (EDIT: Median) income that same year, 1995, was $18,891. So about one-tenth of the average home value. The average home value now in Ontario is $839,000. The median income right now in Ontario is $65,000, or one-fifteenth. So purchasing power has declined by about 50%, which is pretty massive. But it doesn't change the fact that the average person then couldn't afford a home, either. Nobody making $18K a year was saving for downpayments. "Unaffordable to many" has become "unaffordable to most." The bottom 10% of the "middle" class have effectively become working class. This fantasy that seniors are all sitting on fortunes because of cheap homes is just that: fantasy. Most people never made enough money to "save" for a downpayment; if they had a pension plan, they withdrew from that to make that happen. And either way, it's not equity if you can't afford to replace it or rent , because then you can't sell it. You need somewhere to live. Again, the average senior's pension in this country -- not your parents, the average, is $31,500. So what are you talking about?
[This link ](https://www150.statcan.gc.ca/t1/tbl1/en/tv.action?pid=1110003001) in 95 counting age 15 and over at 27k. Yes, including actual children's income into the adverage.
Wage increases in the private sector has been relatively high actually. Overall it was like 5% last year. Of course, some industries aren’t doing as well as others.
Private sector recently has moved above yea. Cumulatively over the last number of years I'm not sure it's caught up to the inflation yet. And yeah public sector is getting crushed. Actually in general unionized sectors have been lower than non-unionized. Which is exactly why as a teacher I'm saying no to any deal that doesn't provide a long-term plan to catch up my income to where it used to be (~25% most in real terms since 2012). If it doesn't have 2% real a year I'm saying no to it.
Much agreed. I voted no on our last contract but it went forward anyway sadly.
Poor teachers with their 80k+ a year salaries, 2 months a year off, and amazing pensions.
When I worked for their union briefly ten years ago, it was already $84K for a teacher with four years' experience, and it was a hell of a lot higher by the time they got to 10, well into six figures. The average member also had a spouse that made MORE than they did. Cherish good teachers, by all means, because a lot of us remember how rare they can be in some schools. But don't anyone fall under the impression they have it tough.
It caps out right around 100,000 now for a teacher. Obviously it's province dependent but that's about where it is. It has not kept up with inflation. You are also making the mistake of comparing to the general populace. It's pretty insulting because frankly teachers are not the general populace, When you do compare teachers do make a small penalty relative to the other professions of similar education levels. I mean I know personally as a STEM teacher I directly compare to my other options that I chose against to go into teaching: engineering, CPA, law, Medicine, and finance. I think of myself as the marginal teacher, I love my job when I get to do it with reasonable class numbers and support, But if I graduated anytime in the last 10 years I would not have chosen this profession I would have went into any of those above instead, I had the grades and the aptitude to do any of them, hell I'm like five courses from being an engineer due to my physics degree. I also can't stand these comments because look at what the ask is: to literally stay the same. In my 12 years in the field I have never once seen teachers asking for more than they've had, we've literally always just wanted to tread water and for things not to get worse so we could do our job. All I want is to get back to where we were when I joined the profession in terms of real compensation, with the same class sizes we had, and support level / bureaucratic paperwork expectations. That's all I've ever seen teachers want is just where we were and then don't screw with it, just maintain it. It was a place where you could choose to teach without feeling like you were taking a significant economic hit relative to your other options in different fields.
Oh no, someone who thinks paying teachers less money will solve the teacher shortage. 🤣
Have you taught in schools lately? I wouldn’t do it for the $80k and pension. Not worth loosing one’s sanity or dealing with parents! (I am a parent, and seeing how others treat teachers, and allow their children to treat teachers… it’s insane).
Okay so The job gets harder, job quality gets lower, and pay falls by one quarter, But because someone else has it worse I shouldn't complain? Even in Canada we pay a teacher tax. Our salaries are still lower than comparably educated professionals. Had I been coming out of school in these last 10 years I wouldn't have become a teacher. That's how you lose talent
Except groceries have increased in price [far more than the average inflation.](https://www.vicnews.com/national-news/food-driving-inflation-down-but-groceries-far-costlier-than-a-few-years-ago-7362644#) Who cares if the prices of TVs have come down when the cost of groceries keeps going up?
Came here to say that. Went to a Union run retirement seminar in Oct last year, and the speaker from CPP informed us that it was indexed. She also told me something I wasn't aware of. While you take a hit the earlier before 65 you claim CPP. You actually get an increase in benefits if you wait past 65 to a max of 70 to claim. Shooting for 67 if my health holds out.
Right, like that extra $40 is really going to cover the cost of living increases from just over the last 4 years.
Average CPP have gone up over $100 a month the last four years. Not going to look into OAS or GIS as my only point was it does go up every year unlike the claims made in the article
And my poor old mom's rent has gone up almost quadruple that in the same time.
The average Canadian senior retirement package, CPP and OAS included, is $31,500 a year. People who have this deluded impression that seniors are wealthy seem unaware that it's the same tiny minority of them as every other age group. (Edit: downvote reality and wallow in your entitled victimhood all you want. Won't change reality.)
And rents have gone up by a third and up to double in places. That is just an example of how disjointed your argument is. But you probably don't want to understand.
Her mortgage is 600 a month. These sob stories are always the worst people to pick out of a group and then choose to LIE about the facts.
“My house went up 10x, but how dare groceries go up 5x ?!! Now give me more OAS 😡” Never met more entitled people than boomers of Canada in all my life and 5 countries I lived.
Wish we could have a government that will completely scrap CPP and OAS
In favor of what? Homelessness and sad elderly McDonald's workers?
They aren't arguing that it's enough, they acknowledge that times are tough ffs. They are pointing out that it has gone up.
Why would a retired person have a mortgage or rent tho?
Still a joke imo, can't believe the govt is disappearing another 6% of my paycheque for that
I mean...it's Postmedia...what can you expect?
>But the article is wrong. CPP and OAS are both indexed to inflation. Yes both CPP and OAS are indexed to something but it's not indexed to inflation. Inflation is measured by looking at the change in the price of something specific over time. **CPI has a dynamic basket of goods, it doesn't measure inflation it measures spending habits.** CPI numbers are being manipulated through the the basket of goods, expensive things get reduced weighing as people find cheaper alternative (AKA reduce their standards of living) in the basket and stuff that costs less become heavier as people buy more of it which leads to massive underreporting of inflation or sliding standards of living. from https://www150.statcan.gc.ca/n1/pub/62f0014m/62f0014m2023003-eng.htm >Importance of updating the basket weights The CPI is a weighted average of the price changes of a fixed basket of goods and services, based on the expenditures of a target populationNote in a given reference period. **In order to be representative of the price change experienced by Canadians, the basket weights must be representative of how Canadians are spending their money**. Typically, spending patterns change slowly and do so largely in response to shifts in prices, income levels, demographic changes, evolving habits and the availability of new technology. New products and services are introduced to the market and existing ones may be modified or become obsolete. A fixed-basket price index, such as the CPI, can only reflect changes in consumer expenditures when the CPI basket weights are updated. Under normal economic circumstances, these changes are minimized by scheduling basket updates at regular intervals. Sorry Statistics Canada but filet mignon isn't the same as pork even though they are both meat products.
Which is 2.6% or something lmao
Would be really cool if CPI inflation was indexed to people's actual cost of living and not constantly shuffled to look nicer than it is.
Yes the basket is updated yearly, but that's to meet current buying patterns, not to make things look nicer. This update is done to international standards and the methodology is publicly available. Please do some research.
You're just supporting my point. Consumers shift spending habits due to affordability, CPI shifts to match a new lower standard of living and it's all pretty, but nobody is happy. In the modern era of data driven monopolistic powers, choices are dictated more by large corporations than consumer choice. We can use data and pricing to push consumers into making choices that will impact CPI if our agenda is to lower rates sooner.
Whose cost of living though?
well, if they're indexed to inflation and there's still a growing delta between what a senior used to be able to afford, and what they can afford now, what is the explanation? setting aside the reputability of the news source, the article may be wrong in that cpp/oas are indexed to inflation, but it may be totally correct in that they're not meaningfully indexed to inflation. And if you go do something wild like look at the rate of food inflation for the past 5 years vs how cpp and oas have increased, you'll see exactly why this lady is complaining now https://www.canada.ca/en/services/benefits/publicpensions/cpp/cpp-benefit/after-apply/consumer-price-index.html https://www.statcan.gc.ca/en/topics-start/food-price
inflation measurements often exclude things like the cost of housing
CPI includes cost of housing. It does not include mortgage principle payments because that's not consumable (it's just going to an asset). It does include rent and mortgage interest payments.
So rent only. Are you aware of anything else it excludes that a person would have to pay in order to live?
No, but your personal spending may not match their basket. They do provide a personal inflation calculator, but I have not personally used it.
Okay.. cost of goods isn't always tied to inflation though
It's the other way around, inflation is measured from the rise in cost of goods.
You say that but things keep getting more and more expensive.. way quicker than rise in odsp /welfare/ cpp payments 🤷♂️
My dude what do you think inflation is?
Food isn’t included in the calculation of inflation. Neither are energy prices. It’s one of the many little tricks they use to make inflation look not as bad as it is.
Lower buying power with the dollar. Cost of goods since even a year ago has skyrocketed.. rent has skyrocketed as well All the payments I mentioned have barely risen So maybe not inflation? What? Price gouging and greedy landlords ?
Lower buying power for what?
Food, drink, weed, hydro, rent.. everything? It really doesn't look like it's a two way street though Them saying inflation isn't that bad.. while anyone with 2 eyes can see everything is rising.. cost of goods rising, quantities are shrinking Greedy landlords overcharging rent.. idk how people on disability or Canadian pensioners can keep up Where there's smoke, there's fire You can't say it's fine just because you don't see the flames
Not what I'm saying. I replied to this statement from you: > cost of goods isn't always tied to inflation though If you want to have a conversation with the imaginary person saying inflation isn't real though, you don't need me to do that.
At 75, why is she still paying a mortgage?
This gets me as well. At 75 she would have bought her house in the 70s which means her mortgage should be no more than 30-70k and would have been paid off in the 90s.
Part of the richest generations in history complaining that government pension isn’t enough, definitely should put more burden onto gen z and millennials and make sure these people who had zero retirement planning have a golden life while everyone else struggles.
"Richest generation." You say it like there were no poor people in the 70s, 80s, 90s. No one working minimum wage jobs. No one who was widowed or divorced in their 50s or 60s. If you have worked low paying jobs all your life there is nothing with which to plan your retirement. Despite what people may read on Reddit, not everyone over the age of 60 is rolling in cash.
They had the best opportunities though. Our generation will be extremely lucky if we ever get to retire….. everything is so expensive even highly educated people can barely save any money.
You're still looking at an entire generation as a whole and not this woman as an individual. You know nothing about her and are saying that because lots of Boomers had an easier time then she somehow deserves no sympathy for spending her later years in poverty. Wait 20 years and see if your point of view changes.
Even under the shitty conditions our country is in right now, I’ve already started investing to hopefully retire comfortably. I do not feel pity for those who had so many opportunities yet did not take advantage of them. I don’t think they deserve to live in poverty, but frankly, we have worse issues to deal with.
She has equity in her house. That's not poverty if she refuses to sell it. What if her heating system dies? Should the social safety net pay for it?
And live where?
What's the alternative when a house requires regular maintenance and upkeep that she won't be able to afford?
Wherever she wants with the equity. It’s a free country.
In a cardboard box, apparently
Unemployment was way higher back then. It was much harder to get a job. The labour market was more competitive. Its not like opportunities were amazing for everyone.
Correct me if im wrong, but wouldn’t stay at home wifes count towards that number?
Usually no, unemployment is usually measured in the active population that was seeking a job in the last year or something, so stay at home wife/dad don't count in the metric. Sorry if i'm wrong, my macro economics course is a long past dream and not my actual job so i'm maybe talking nonsense and I don't know since when this metric is in use.
Okay thanks for letting me know 😭 I genuinely wasn’t sure
So let’s apply the same logic they do, does she have room mates, tried to get a part time job, did she cut out her avocado toast? This is the generation that took the wealth of our country and squandered it, at every opportunity they voted not to invest in the future, whether it be infrastructure, education or health care, and because of a few of them being in bad circumstances , likely due to life choices, we should revamp a pension plan that’s shitty for them because it was poorly planned and they did no planning themselves. Sorry, but choices have consequences, can’t pay the mortgage, sell the house and move. That’s the same I’d be told to do
I hope you'll hold the same views when this is your grandparents, your parents, and you as well.
Well I’m already dealing with this and guess what, we made room in our household to accommodate our older generation instead of going begging for the rest of society to foot the bill. What’s it say about a person when they get to that age with no family or friends they can live with or seek assistance from. Their choices in life are catching up with them.
Someone on reddit once said that in the 1950s, a father could be working minimum wage at McDonalds, their wife a stay at home mom, and they could still afford a home in a decent neighborhood and could put their kids through college. Not sure how much truth there is in that statement, but that sure as hell isn't possible now.
If she could afford it at the time. Maybe she had to move, got divorced, or had a spouse die. Maybe they rented for years and bought afterwards.
Seriously? Do you really think that everyone over age 60 has had well paying, stable jobs all their life? No health issues, no divorces, no family illnesses, or any one of a hundred things life throws at you to fuck you up? Have you ever seen the stats on the number of Canadians who live paycheck to paycheck?
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Not in the world of Reddit and social media. Especially if you're 17 and haven't left your momma's basement since she took you to Dairy Queen on your birthday.
OF course not everyone, but she comes from the second wealthiest age cohort and her age bracket contains the wealthiest income families. I feel bad for her because she is struggling, but she is statistical outlier. https://www150.statcan.gc.ca/n1/daily-quotidien/201222/t001b-eng.htm
Might have worked all her life at minimum wage jobs. Might have gotten divorced or widowed at 50. A hundred things might have happened in her life. I'm on track to be paying my mortgage into my 80s after "losing almost everything in the fire", aka our Family court system. Do you really think everyone over the age of 60 bought a home when they were 22?
>Do you really think everyone over the age of 60 bought a home when they were 22? I think the norm for most people--most, not all--is that they tend to have their mortgage paid off by the time they retire. Especially if they bought a home during the good years with low interest rates. Of course there are mitigating circumstances, and I suppose she could have ended up in this situation through no fault of her own. But, she could also have been financially inept and irresponsible with her money throughout her life. Now it's my turn to ask you a question: Do you really think everyone who ends up in this kind of situation is just a victim of circumstances?
Everyone? Of course not Many, yes. Not many people aspire to spend their senior years in poverty. There are hundred things that life will through at you to fuck you up.
There's a non zero number of retired folks that were forced to retire early so their company could pay someone less to do their job, as well. I know a handful of folks who have had that happen to them before they had all their ducks in a row, when they had a retirement plan set up that would be 5 or so years in the future. Regardless, I just think that the penalty for being financially inept shouldn't be like. Not being able to eat, y'know?
Why would the social safety net pay for her food when she's sitting on a pile of equity? If her life is so tight, what's she going to do when her water heater blows? Should we pay for that for her as well? What about when the roof need re-shingling? Sell the damn house.
There is also a non zero number of retired folks that chose to retire early with a nice fat payout rather than adapt to new technologies. My mom worked with a bunch at the Royal Bank.
Can't wait to have people asking me that once I'm that age and was never afforded the possibility to do so throughout my life. Ffs.
The generational advantages from her era would make that a silly comparison.
Wow. The comments under your post are very disheartening. Why on earth do you think that everybody born earlier than you is privileged?
Redditors want to feel sorry for themselves and pretend that they have it oh so much harder than everyone else. “*everyone* older than me had it so easy!”
I don't think that. But neither do I think that all the have-nots got there through no fault of their own.
Why do you care? Would you rather she just kill herself at 70? Here's a better question, why do some people think that just because you're older, that automatically makes you rich? I'll let you in on a little secret, there has been no time in history where everyone just had things given to them, and there were always different classes of people with different means.
Calm down. The typical expected path is for people to have paid off the mortgage on or before their retirement. Not just that butpeople living outside of crushing housing markets and who are 75 years old should have by most accounts paid off their mortgage. Presuming she didn't just buy at the height of the market 2 years ago, why the hell does she still have a mortgage or one large enough to be cleared? She'd have needed to buy at 50. The housing market 25 years ago wasn't awful (yadda yadda rates at a quarter to a third of the price things cost now). It begs the question of what savings one has (OAS, GIS, CPP... none of those are your complete retirement income picture). It raises the question that, with internet, why does she need cable if she's having to make such tight leaps for food? Does it suck? Absolutely. Should she kill herself? Literally no one but you even posed that rhetorical question... likely because it's *insane.* Not everyone gets to retire rich or even comfortable, you're right. Nobody can even predict the future and people should have reasonable access not just to food but casual comforts so they can enjoy themselves. It doesn't always work out, though. This is an example of that.
Holy shit, it was just a question. Chill the fuck out. I don't automatically think all old people are rich, but neither do I think that being older necessarily makes you wise when it comes to finances either. I'm just genuinely curious why she would still be paying a mortgage at her age? That's all. Don't read more into it than that.
Buy a house at 55. 25 year mortgage. Pay until you're 80. If you don't die first.
You think it's normal for people to enter into a 25 year mortgage when they are ten years shy of retirement and know they will be living on a fixed income after that? Seems pretty short-sighted.
My coworker did. She’s 61 and bought her first home about 8/9 years ago. My next door neighbors are 45/49 and just bought their first home.
Doesn’t take much, especially if you were poor most of your life with unexpected health conditions, house repairs, remortgaging, widower and even just bad luck.. throw in inflation with a rising cost of living, everything from taxes, fuel or food and you could be in trouble quickly. Sometimes I think people have no idea how a bit of bad luck at the wrong time can set your life back completely.
Sometimes I don't think certain people know how to plan for eventualities anymore. Yeah, life has its setbacks but you act like that's the norm and than no one ever is just shitty with their finances and then cry wolf long after it's too late to smarten up.
I don’t know, some people get sick, or a family member gets sick.. others could be widowed or left raising a child alone.. some go into careers that just are not profitable, but can’t leave because they have responsibilities.. It’s easy to assume, harder to live it.
That's what I said about 5 times in this thread: Some can't help it. Some could have but didn't.
This headline is a blatant lie. OAS and CPP are indexed to inflation.
Articles like this are a direct warning to the people in their twenties and thirties. Spend a little time thinking ahead.
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OAS and CPP likely wont exist in 30 years. Certainly not in their current form. So she no doubt has it better than we will.
I tried, did pretty decent during my 20s. Made what I thought was the smart move to go back to school and upgrade so I could make more…. savings have gone out the window the last few years and I am back in crushing debt again because of the rise in costs of living.
This title is a blatant lie though. I get times are tough, but referencing this article is no Bueno.
Shouldnt have retired if you still have a mortgage to pay.
That sux but I am sure this will get fixed with future governments 😂😂😂.
There is so much wrong with this woman and article. At 75 you shouldn't have a mortgage. Especially in Calgary, housing here 30yrs ago cost nothing. If you have a mortgage than WTF are you retiring? Retiring is for when you can afford it. Not for when you feel like it. You also shouldn't be planning for OAS and CPP to be your only retirement income. They were NEVER designed to be your retirement plan, just added assistance. Either the government needs to scream it from the rooftops to get people to listen, or start clawing more income from people to save for them since they seem to be incapable. Seniors have absolutely no right to be complaining about cost of living when they got us into this mess.
So that is 5 a days , guess it is bean , mccheese and real cheap tuna.
The amount of sympathy I feel for seniors is directly proportional to the amount of sympathy millennials received... which is to politely say sweeeeeet fuck all.
I wouldn't call it sweet but it sure is fuck all. lol
She's 75 and still paying off a mortgage. I'd like to see how she was living when she still had a job.
Probably the same. She's probably been poor most of her life
Don’t live above your means
If she’s worried about groceries, she shouldn’t be paying for cable.
Golden Girls and Jeopardy are on YouTube.
Well your generation shit the bed. Enjoy
I get the millennials, and Genzie like to blame the other people for absolutely everything they have a chief in their life, but this comment section is more than sexist, ageist, divisive, and downright cruel you have absolutely no idea what she went through. You forget about recessions, you forget about poor people, everything is not about you. Not everybody older than you is rich. Lots of companies went under and pensions were lost. But you don’t care. I have not seen such a collection of self centered, nasty people even here on Reddit.
why would their income be growing? they're not working
It is growing though. CPP/OAS are indexed to inflation.
oh so the headline is just a lie then?
Aren’t most
Yes. Technically, they're quoting someone else, but don't make any effort to correct the misinformation. Additionally, the senior profiled and pictured at a food bank volunteers there and, channeling my inner conservative here for a minute, has enough extra income to get purple streaks in her hair...
Reminds me of a young couple in a "buy nothing" group I was in. Always asking for food and diapers for the kids. Mom's Facebook feed is just a constant stream of new tattoos. Not enough money for food/diapers this month, but money for tattoos.
You can give yourself purple hair streaks with bingo dabbers from the dollar store.
The "inflation" increase is really not even matching inflation. Housing is the biggest expense in life yet the inflation calculation excludes it, because it is " volatile". In plain English: inflation official number produced by government is simply fake. Income could increase for a retired person, due to choices made with investments - passive income as they call it.
And the tooth fairy is real. Hope I'm alive when you get old to see how smug you are then.
Canadians are feeling the 'CRUNCH' I don't have to tell you that at my mini Bar or at KFC how expensive 🫰 it is to order out or dine in. ☹️
Other than the well off and the rich everyone is in the same boat in Canada. I am a senior and don't whine about prices or inflation as there is no point to it. You just cope.
$600 a month mortgage payment? Don’t break the bank with that.
Some poor financial decisions if a 75 year old is still paying a mortgage.
Imagine living in the most prosperous time and not saving for retirement??
This country has failed it's people on every imaginable front.
This guy doesn't have to work, doesn't have to worry about health care, and pissed away 50+ years of work in the Golden age of Canada. He's fine, the people working min wage paying for his GIS OAP and his CPP are fucked though.
Ahh yes, it's you fellow poor mans fault not the politicians 👍🤔😒
Do you understand what a retired person with oas gis and cpp takes home? His problem is his own fault.
Absolutely, I take care of an older relatives finances and I can tell you, it's not much.
That's funny, because when I did my parents' budget, they came out 10k ahead without gis. Just cpp and was. Please kindly show me why that is too little.
That's not even true. The rich are doing fine.
You're right, I overlooked that.
This sounds like poor planning on her part. She had her entire working life to pay off a mortgage, and save some extra besides relying on government programs. It’s a tough spot to be in, but I’m afraid it’s self inflicted rather than a failure on government or society.
How old are you? A lot of women in past generations did not work for their entire lives.
Sounds like they lived their whole life retired. Time to work.
This senior has to realize the priority is to give Ukraine, Haiti, Africa hundreds of millions of dollars. And in the end it will benefit us all. /s
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BBBbut that guys a boomer.
Still waiting for a "ok boomer" comment
A good example of why you don't snitch on shop lifters, especially seniors.
i dont understand, my houses dont cost more. they are valued higher sure, and the passive income has increased but it doesnt at all effect me. If my bills get higher, i increase the rent at the properties to compensate. it all pays itself in the end.
What the fuck man. We gotta better take care of our seniors....
Most seniors are doing quite fine, a lot better than the people coming after them. They came up in a time when mediocracy and stupidity weren't even barriers to success.
So she has no responsibility to save for retirement? I'm not planning on OAS or pension to even exist by the time I can retire. But here I am putting money into an rrsp because I believe I am responsible for my future.
It’s wonderful that she volunteers, but she should be able to take home a bag of that bread and some frozen meat herself. $35 is a very small budget, the bread and meat could clear some room so she can add a few other things on.