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 Post subject: Getting older sucks
PostPosted: Sun Aug 21, 2022 11:37 am 
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Joined: Sun Oct 14, 2007 6:30 pm
Posts: 233
Location: Chartlottetown,P.E.I., Canada
I don't know who started the myth about the golden years but I'm glad we never met or I would be in a great deal of trouble. I had my 4 th heart attack last December, arthritis in my shoulders and hands and degeneration in my neck. I won't be sixty until next January and feel 90. I gave it everything I had but it looks like I'm facing not being able to work soon and that scares the hell out of me both money wise and not being busy all the time. I've been working full time since I was fifteen when my father passed away and just am not used to having a lot of free time on my hands but I hope I can do at least another year . What do others do when they retire with Canada Pension, a small RRSP and reasonable savings that will have five less years to grow when costs are so high.


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 Post subject: Re: Getting older sucks
PostPosted: Sun Aug 21, 2022 2:22 pm 
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Joined: Sat Sep 03, 2005 9:25 am
Posts: 4264
Location: Ontario, Canada
You might have to find a much less physical part-time job so you can delay your CPP until age 65. You likely know this already but you will take a 35% CPP reduction by taking it at 60. The OAS will help as well but you can't draw on it for 5 more years.

Maybe your province has a some sort of disability pension that you can stay on until age 65. A small disability pension plus a supplement from a part-time job could maybe get you to age 65.


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 Post subject: Re: Getting older sucks
PostPosted: Sun Aug 21, 2022 3:34 pm 
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Joined: Fri Jan 22, 2010 1:17 pm
Posts: 3530
Location: Kingston, ON
TCooper has good advice for seniors in relatively good health. I have quite a few friends and relatives who didn't make 65, one niece didn't even see 40. Granted I'm not a medical doctor and I don't know you personally, but given your heath history (4 heart attacks), I would say take it easy, if you have to retire then draw your CPP at age 60 and live your best life on your savings + CPP + then OAS should you life past 65. One of the biggest things to consider is not how much money you have, but for how long you will need money and that no one can give an definite answer to.
All the best.

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 Post subject: Re: Getting older sucks
PostPosted: Sun Aug 21, 2022 3:52 pm 
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Joined: Sat Nov 03, 2007 4:19 pm
Posts: 9390
Location: Coalmont BC
I would (and did) take the CPP at 60, even with the reduced amount.... If you don't make 65, it will help for now.... and if you do make 65, then in addition to the OAS, if your income is low enough, you will qualify for the GIS (Guaranteed Income Supplement).... If you can make it on those after 65, then delaying converting your RSP to a RIF until age 71 will keep the GIS flowing at a faster rate.... If you can't, then you can convert your RSP to a RIF and get cashflow from that, but it will severely affect your eligibility and the amount of the GIS....

Bob

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Dominion Marksman Silver Shield - 5890 x 6000 in 1976, and downhill ever since!
Airsonal; Too many! Springers, Pumpers, CO2, but I love my PCPs and developing them!
Proud Member of the 2000+fps Club!


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 Post subject: Re: Getting older sucks
PostPosted: Sun Aug 21, 2022 5:12 pm 
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Joined: Sat Sep 03, 2005 9:25 am
Posts: 4264
Location: Ontario, Canada
Good advice about the GIS. Details...
https://www.canada.ca/en/services/benef ... ement.html

I guess we don't know much detail about Mr. Brown's physical condition. Possibly he is very disabled and any employment is not an option. Maybe work of any type would be dangerous to his health. Possibly he is no worse than some of the WalMart greeters who work while in a wheelchair. I have a relative who has had 2 liver transplants, 2 knee replacements, shoulder problems, heart problems and at 77 he still works part time. He likes to work, feel needed and stay busy. Whatever the details it's great to see forum members helping out with good advice and options to consider.

I know people in Ontario on disability (ODSP) pensions but I'm not sure on the details and whether it's even an option in other provinces. Something to possibly look into to see if it can be used to bridge to GIS age.


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 Post subject: Re: Getting older sucks
PostPosted: Sun Aug 21, 2022 5:30 pm 
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Joined: Sat Nov 03, 2007 4:19 pm
Posts: 9390
Location: Coalmont BC
There is a Federal Disability Pension which ceases when you apply for your Canada Pension.... I don't know the details, but you will need a Doctor to certify that you can no longer work....

Bob

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Dominion Marksman Silver Shield - 5890 x 6000 in 1976, and downhill ever since!
Airsonal; Too many! Springers, Pumpers, CO2, but I love my PCPs and developing them!
Proud Member of the 2000+fps Club!


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 Post subject: Re: Getting older sucks
PostPosted: Sun Aug 21, 2022 8:14 pm 
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Joined: Mon Mar 27, 2017 7:06 pm
Posts: 1132
Location: Meaford, Ont.
All good. A twenty five year old body with all the knowledge I have now would be ideal. :)


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 Post subject: Re: Getting older sucks
PostPosted: Sun Aug 21, 2022 11:56 pm 
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Location: Coalmont BC
I know exactly how you feel.... "Too soon, old.... too late, smart".... :roll:

Bob

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Dominion Marksman Silver Shield - 5890 x 6000 in 1976, and downhill ever since!
Airsonal; Too many! Springers, Pumpers, CO2, but I love my PCPs and developing them!
Proud Member of the 2000+fps Club!


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 Post subject: Re: Getting older sucks
PostPosted: Mon Aug 22, 2022 4:41 am 
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Joined: Tue Feb 09, 2021 6:42 am
Posts: 150
Location: BC
I had freedom 52 and a heart attack one year later(then realized why I had wanted to quit). Anyway lived on savings for years but took the CPP at 60 and my wife did a few years later at 60 because I like a certain thing. I also years ago thought I would never make it to 65 (smoker etc.) Anyway 2nd heart attack and quintuple bypass and 74 now but do not regret taking the CPP early. Take what you can when you can after all you did pay some tax and paid into the CPP.
I have worked each and every provincial and federal election starting after my retirement mainly due to a neighbour suggesting I could "supervise" at a poll. I have done so since. Not everyone can handle that stress but most can sit at a table and fill out forms and check id's and it supplements income. Actually even just working at the door works. I am sure there are other such jobs available though I haven't pursued any.
I have no idea what level of income but you could always volunteer at a food bank and perhaps would be qualified to take a little home with you to help with the expenses. Get to socialize.
I was involved in things like a parks board and other community/government liaison committees but soon got tired of the bureacracy and high handedness even at the municipal level but it could be an activity. There are community patrol groups that go around in shifts of a few hours once or twice a week. Get outside and enjoy nature and the good weather.
If one has a rpal, shooting a rimfire pistol occasionally at a club can be a fairly inexpensive activity and one club I know gives credit off dues for volunteers.
I see nothing wrong with the suggestion being a greeter. Get paid,maybe socialize a bit.
house sitting seems to be a thing sometimes.
Enjoy to the fullest possible.

The Golden Years Have Come At Last
I cannot see I cannot pee.
I chew I cannot screw.
My memory shrinks my hearing stinks.
No sense of smell I look like hell.
My bodies drooping I got trouble pooping.
The Golden Years Have Come At Last.
The Golden Years Can Kiss My buttock.


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 Post subject: Re: Getting older sucks
PostPosted: Mon Aug 22, 2022 3:55 pm 
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Joined: Sun Oct 14, 2007 6:30 pm
Posts: 233
Location: Chartlottetown,P.E.I., Canada
I appreciate the information on the Canada Pension and retirement guys. I'm not hard up nor will I be in the next few years but I like many people have to adjust eventually to aging and not having the stamina I use to due to health problems. I find it harder to do my job but can still do it well as I have for the last 24 years that I've been with my company but know that another year or two will be my limit. I fully intend to continue working at least part time in the future even after 65 if I can. I have nine stents in my heart now and I hope to live until I'm much older which my wife, son and my cats would appreciate I'm sure. What scares me is being unable to work not for monetary reasons but feeling useful in life.


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 Post subject: Re: Getting older sucks
PostPosted: Mon Aug 22, 2022 5:04 pm 
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Joined: Sat Nov 03, 2007 4:19 pm
Posts: 9390
Location: Coalmont BC
Honestly, that's what hobbies are for, IMO....

Bob

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Dominion Marksman Silver Shield - 5890 x 6000 in 1976, and downhill ever since!
Airsonal; Too many! Springers, Pumpers, CO2, but I love my PCPs and developing them!
Proud Member of the 2000+fps Club!


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 Post subject: Re: Getting older sucks
PostPosted: Mon Aug 22, 2022 5:29 pm 
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Joined: Sun Oct 14, 2007 6:30 pm
Posts: 233
Location: Chartlottetown,P.E.I., Canada
Time will tell I guess.


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 Post subject: Re: Getting older sucks
PostPosted: Mon Aug 22, 2022 6:04 pm 
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Joined: Thu Oct 13, 2005 6:52 pm
Posts: 8394
Location: Vancouver Island BC
Never think about getting old but i am 60 had 2 jammers and 5 stents but i still work full time i feel like i did when i was 40 ...............

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 Post subject: Re: Getting older sucks
PostPosted: Tue Aug 23, 2022 6:37 pm 
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Joined: Sun Oct 14, 2007 6:30 pm
Posts: 233
Location: Chartlottetown,P.E.I., Canada
I felt that way after the first two but not the 3rd or fourth. I think it's the arthritis in my shoulders that gets to me the most as I'm a metal worker setting up dies and cutting steel all day . I've had surgery on one shoulder, both wrists and left knee still waiting on the other shoulder. I feel like I did before the last heart attack and am awaiting a blood flow test but the wait is 18 to 24 months here on the island. I think family history plays a big part as my father died a few weeks shy of 40 when I was fifteen and both his brothers in their early forties, I had my first at 42 but thank the lord I'm still with my family and plan to be around for awhile yet I hope. I'm glad to hear your doing well and I hope you have many more years with your family sir.


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 Post subject: Re: Getting older sucks
PostPosted: Thu Aug 25, 2022 8:47 am 
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Joined: Wed Jun 15, 2011 3:08 pm
Posts: 1468
Location: niagara region.
i hear ya tb. i got 2 stents about 15 years ago. i agree with some of the other guys about taking your cpp early. i did. i worked construction for about 45 years for the same company. the first 30 was hard manual labour -but i loved it. the last 15 i worked was driving a front end loader --but i still had to get in and out of it to get stuff by myself and do light work. at 64 i couldn,t climb up into my loader anymore-- so i retired. i,m almost 68 now and so full of arthritis i can barely get outta bed and get dressed for the day. that,s life i guess. my trigger finger still works (but with a lot of cracking) so i still enjoy shooting my airguns and making my targets. have a good one.


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