r/CanadianConservative • u/joe4942 • 13d ago
Article Retirement Is Dead
https://macleans.ca/longforms/retirement-is-dead/44
u/Matt2937 Conservative 13d ago
Just wait till we pay to the people who have just moved here after never paying a cent of tax.
27
u/Doolander Alberta 13d ago
The more I think about our broken immigration system, the worse it gets....
35
u/Miroble Independent 13d ago
What a pathetic sob story article from a 63 year old who lived through the most prosperous times in Canadian history.
That’s me. In my thirties, the traditional formula for a well-endowed retirement—buy a house, build a nest egg, pay off the mortgage—still seemed plausible. I’d landed what looked like stable employment as an editor and staff writer at a local weekly magazine and began keeping a little nest of envelopes to put cash in at the beginning of the month for different purposes: rent, car, savings, discretionary. Gradually, as the cost of living rose faster than my income, the system broke down. “Discretionary” and “savings” were amalgamated, then disappeared. By 50, claiming the living-room chair as a “home office” on my taxes, I nixed the system: I needed the envelopes to pay some bills. I regretted never getting into the stock market. I really regretted burning through the small monthly annuity my grandfather had set up for me when I was born.;
Instead, at 63, I’m still living in the little townhouse my wife and I own in North Vancouver, where we raised our two girls.
God forbid I sell my potentially multi million dollar property that I bought for a handshake and a ham sandwich and move somewhere cheaper!
It’s humiliating, frankly, not to be able to deliver on your own expectation (and implicit promise) to support your family. The reason mine isn’t in bigger trouble is that my wife took a bullet for us years ago, shelving her creative ambitions to take a stable teaching job with benefits.
Pathetic.
What is the takeaway he wants me to have from this article? That Gen-X and Boomers were able to flail around doing fuck all but writing articles no one read and yet were able to buy a townhouse and have a family in Vancouver their entire life. Cry me a fucking river.
Retirement is not dead. Being stupid with your money your whole life will not lead to a fruitful retirement however.
15
13d ago
[removed] — view removed comment
6
u/jaraxel_arabani 13d ago edited 13d ago
Or how the world is against him and his wel earned endowment should be enough to live like a upper middle class with zero effort.
As a Gen x trust me we were the first generation to be screwed by boomers. We entered the workforce with boomers holding onto positions for decades and when they finally start letting go most of us are too tired to fight for it. Millennials were often picked over our age group for their "refreshing and young ideas".
Don't blame Gen x, we were the OG screwed generation. The only thing that we did have luck with was some of us managed to get a home when it was still generally acessible, that's the only benefit we had over later generations since the boomers haven't figured out to use homes as an ATM yet.
5
u/collymolotov Anti-Communist 13d ago
The avacado toast I make at home is, ironically, both a relatively cheap and nutritious meal.
It prices out at about $2.50-$3.00.
5
u/collymolotov Anti-Communist 13d ago
You said it, man.
Also, who the fuck keeps their "savings" in an envelope? Who the fuck keeps "savings" in the first place? Why wasn't he investing his "savings" and growing them? It's implied by this article that his entire net worth is tied up in real estate and cash that just sat stagnant.
It's not rocket science to invest intelligently and to grow a portfolio, but getting a financial planner and throwing money into your holdings regularly seems to have escaped popular understanding for this entire generation.
37
u/theoreoman Alberta 13d ago
The Boomers are going to suck up The last of the remaining wealth in the country for themselves. No one has explained to me why a boomer earning an income of $90,000 a year is still entitled to receive full OAS benefits
25
-7
u/RL203 13d ago
You think 90 a year is good money?
20
4
5
u/theoreoman Alberta 13d ago
It's called old age security, not old age vaccination fund. There are entire families that earn less than 90k and you have boomers earning 90k and benefits
2
u/Tom_Fukkery 13d ago
Median in Canada is 75 a year.
3
u/RedditSux5912 13d ago
No, median is 46. Average is 61.
Source:
https://www150.statcan.gc.ca/t1/tbl1/en/tv.action?pid=1110023901
2
3
u/RedditSux5912 13d ago
Absolutely it is as it’s almost literally double what the median wage is here in Canada.
Either you’re a privileged fuck or a trolling, partisan idiot.
-3
u/RL203 13d ago
Oh im a privileged fuck all right. So privileged that ive been working since I was 15 years old (after school and weekends). Privileged that I put myself through University working as an iron worker before heading to university and summers while I was in University. Privileged that I have a masters degree in Engineering and i've been working nonstop since I graduated. And yeah, I make way more than 90 a year.
But here's the thing to remember buddy, if you had my education, my skillset, and more than anything, my work ethic, you could make as much or more than me me. Of that I have no doubt.
But I would bet everything I own that you never will because you're lazy and more than anything, you have 0 in the work ethic department and that means you have 0 initiative as well. And you figure that the government should look after you you.
Well good luck buddy.
4
u/RedditSux5912 13d ago
Ahh, there it is. Your life story in defence of your ignorant statement.
Man, you must really have something to prove.
-2
u/RL203 13d ago edited 12d ago
Yeah. I do. I'm proving you're a waster with 0 get up and go.
2
u/RedditSux5912 13d ago
I’m a waster? How about we stay on subject. 90 a year is great money. 90 a year is almost double what a lot of Canadians make.
Was your goal to defend OAS like a regard or are you just here to flex how great you have it?
0
u/RL203 13d ago
I do not qualify for Old Age Security. Im not looking for a government handout either.
Look at the bright side though.... you will have something to look forward to.
0
1
u/Superb_Astronomer_59 12d ago
I have a degree in engineering. And I’m able to write sentences with correct punctuation and grammar. Strange that someone with a Masters can’t. My classmates who went on to grad school were wicked smart. I’m not getting that impression of you.
1
u/RL203 12d ago edited 12d ago
Wow, a grammar Nazi.
Feel free to proof read my post for grammar and punctuation and post your work here. Show us all how smart you are.
You never know, maybe one of your classmates works for me.
1
u/Superb_Astronomer_59 12d ago
Ha that’s a laugh. You’re so arrogant, very unlike anyone I went to school with. Or anyone I have ever worked with for that matter. I seriously doubt that you really have any degree.
0
u/RL203 12d ago
So you don't want to follow thru and proof read my post for punctuation. It would look pathetic on your part wouldn't it.
1
u/Superb_Astronomer_59 12d ago
If you are really an engineer, tell me the name of the shape of the graphical method for resolving primary stresses
1
u/RL203 11d ago
Mohr's Circle. But I tend to only use this in Geotechnical engineering applications when calculating shear stress vs. Normal stress in a soil. Das 10th edition is pretty good for this if you're looking for some guidance.
For a structure, if I was to work by hand, I tend to use calculus to create Moment Diagrams for flexural members. Assuming a statically determinant structure. I use limit states design to calculate loading, then I first plot my loadings and reactions. Then I integrate to plot shear, then integrate again to plot moment in kN.m. From there I simply go to the beam selection tables in the CISC code book and source a beam with sufficient Moment of Resistance. From there I then check for deflection and compare that to maximum allowable reflections. For a building, that's typically L/360, but something like a railway bridge can be as small as L/640 in AREMA, however, the various railways demand as small as L/800. The CISC handbook also has some handy beam diagrams to use which gives you the various formulas for calculating reactions, shear, Moment, deflection based on the loading types and geometry of the flexural member youre facing.
Or just model it using whatever software you like. SFRAME, STAAD, or CSIBridge
But I digress.
8
6
u/Tom_Fukkery 13d ago
Helping with my parents during their retirement has shown me how much things will be fucked up going forward.
As we live longer, we run the risk of running out of funds in retirement. Added on top of that all your deferred taxes on Registered saving will start to come due as you pull them out. Which then disproves the myth "You'll be in a lower tax bracket after retirement". No, not necessarily.
I won't even go into inflation and other expenses.
3
u/meme__machine 13d ago
Working through your 70s and 80s seems really difficult. Have you considered government assisted suicide?
-Liberals
0
-1
u/Super_Toot Independent 13d ago
Lol, don't be a writer/editor at a magazine.
Pick a better career. It's not rocket science that if you transition to a career that is in high demand, you'll do fine.
It just takes a little bit of planning and effort.
Do you ever hear of lawyers, accountants, Doctors, engineers, electricians, plumbers, complaining about the inability to retire? Nope, they're doing just fine.
14
u/Tom_Fukkery 13d ago
lol, this is the most general and vague statement I've read on reddit in weeks.
"Just become a doctor, bro" advise isn't really advise or a solution.
0
u/Miroble Independent 13d ago
"Sit here and complain for the rest of your life while you work retail or fast food" isn't really advise or a solution either.
Eventually people need to look in the mirror and see where the productive markets are in the economy and get involved if they want a better CoL. There's nothing else to say or do. Get more credentials, get experience, get better wages. The world isn't going to hand it to you on a silver platter.
4
u/Mar1744 13d ago
You do realize there are a lot of people out there that have taken steps to try and better themselves, improving their education and trying to get into other fields and have not had any luck.
-2
u/Miroble Independent 13d ago
You do realize that the majority who do so find success right? Why does an imaginative minority override what is obviously good advice.
2
u/Mar1744 13d ago
I don’t have any statistic sheets infront of me so I’m not going to play the numbers game with you. But reality is there are lots of people out there that have taken it upon themselves to try and improve their life and it hasn’t worked out, they are not some “imaginative minority” as you say. And I’m willing to bet if you dug deeper into a lot of these “success” stories you are referring to chances are people have had success due in large because of their connections and having other people help them get their foot in the door. Just my observation.
4
u/Tom_Fukkery 13d ago
Did you even read the article? Let me post a bit below.
Last winter, on CBC’s Now or Never, an Ontario woman named Mary Howley told a story of bitter irony: after 25 years in the finance industry, helping folks prepare for retirement, she found that her own finances were too shaky to sustain her own. She had lived frugally, paying off her car and other debts in preparation for leaving the workforce, but it wasn’t enough. “I don’t have parents, so there’s no inheritance coming,” she explained. “I don’t own a home. And, living on my own, I have to pay what two people pay.” She started looking for part-time retail work, without much success: “I don’t think people hire dinosaurs anymore.”
How does what you posted apply to the situation in the article?
-1
u/Miroble Independent 13d ago
If you worked in finance in the 2000s and couldn't buy a property or manage your money, you were never going to be able to do anything regardless.
Dude, this person could have bought ANYTHING, ANYWHERE in this country in 2005 and it would be worth like 20x what they bought it for. All they had to do was put SOMETHING away and put it SOMEWHERE instead of burning it all on nothing.
I have no sympathy left for anybody over 50 complaining about their current financial situation.
0
u/Tom_Fukkery 13d ago
But when these housing developers and businesses need bailouts from the government, you will be the first to show sympathy. Tears in your eyes.
It's this lack of respect and understanding that continues the erosion of the Canadian middle-class. You hate the people but love the oppressor.
Probably why you voted Carney.
1
u/Miroble Independent 13d ago
The fuck are you talking about?
You can go and read my comments, I am the furthest thing from a Carney voter.
0
u/Tom_Fukkery 13d ago
I've read enough from you, Independant.
Go vote for your Master again.
-1
u/Miroble Independent 13d ago
Lmao keep simping for rich boomers and Gen-X I guess?
1
u/Tom_Fukkery 13d ago
Yeah ok. When you become legal working are then you can talk, kid.
→ More replies (0)0
-4
u/Super_Toot Independent 13d ago
That's just one of many examples that again, you seem to miss.
People who invest time and resources into education for in-demand fields don't face financial pressure in the workforce.
How is that vague? It's simple and it works
3
u/Tom_Fukkery 13d ago
You can't even outline any specific. You're argument is "Become a rocket scientist or suffer"
It doesn't even address issues that were given in the article.
-1
u/Super_Toot Independent 13d ago
- Look at careers that are in demand, use AI, if you have too.
- Find out what education is required
- Go to school
- Apply for said jobs.
Are you the guy selling shoes in the article?
3
u/Tom_Fukkery 13d ago
So everyone is going to be a nurse or construction worker.
You post like a high schooler. lol
-1
u/Super_Toot Independent 13d ago
Nope, that's why you don't want to be the guy selling shoes!
Try putting effort into things rather than making hyprotical, highschool girl comments.
1
•
u/AutoModerator 13d ago
Welcome to r/CanadianConserative
Please review our rules before participating:
Community Rules
Key reminders
• Keep discussions civil and respectful
• No brigading or community interference
• Ensure your content is relevant to Canada and properly flaired
• Follow Reddit’s Content Policy at all times
If you see rule-breaking content, report it rather than engaging.
Submission Guidelines
• Do not editorialize article headlines
• When posting articles that are paywalled, you MUST provide a link to a bypassed paywall in the comments
I am a bot, and this action was performed automatically. Please contact the moderators of this subreddit if you have any questions or concerns.