Comments on: Are Canadians Saving Enough For Retirement? Part 2 http://www.canadiancapitalist.com/are-canadians-saving-enough-for-retirement-part-2/ Helping you invest and prosper Sun, 12 Feb 2012 00:54:40 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: Canadian Capitalist http://www.canadiancapitalist.com/are-canadians-saving-enough-for-retirement-part-2/#comment-50844 Canadian Capitalist Tue, 26 Jun 2007 11:57:37 +0000 http://www.canadiancapitalist.com/2007/06/15/are-canadians-saving-enough-for-retirement-part-2#comment-50844 Promod: Thanks for the heads up. I saw your post on the subject too. I am currently reading the report. Promod: Thanks for the heads up. I saw your post on the subject too. I am currently reading the report.

]]> By: Riscario Insider http://www.canadiancapitalist.com/are-canadians-saving-enough-for-retirement-part-2/#comment-50693 Riscario Insider Tue, 26 Jun 2007 02:13:08 +0000 http://www.canadiancapitalist.com/2007/06/15/are-canadians-saving-enough-for-retirement-part-2#comment-50693 Thanks, CC. I did attend the public unveiling of the prescription for the woes of Canada's pension system earlier today. There's a post at http://riscario.blogspot.com/2007/06/prescription-for-canadas-ailing-pension.html Thanks, CC. I did attend the public unveiling of the prescription for the woes of Canada’s pension system earlier today. There’s a post at http://riscario.blogspot.com/2007/06/prescription-for-canadas-ailing-pension.html

]]> By: Canadian Capitalist http://www.canadiancapitalist.com/are-canadians-saving-enough-for-retirement-part-2/#comment-48564 Canadian Capitalist Wed, 20 Jun 2007 22:30:42 +0000 http://www.canadiancapitalist.com/2007/06/15/are-canadians-saving-enough-for-retirement-part-2#comment-48564 Thanks for the report Promod. I was able to access it, so I'll update the post with the link. Thanks for the report Promod. I was able to access it, so I’ll update the post with the link.

]]> By: Riscario Insider http://www.canadiancapitalist.com/are-canadians-saving-enough-for-retirement-part-2/#comment-48562 Riscario Insider Wed, 20 Jun 2007 22:15:12 +0000 http://www.canadiancapitalist.com/2007/06/15/are-canadians-saving-enough-for-retirement-part-2#comment-48562 CanadianDream, the report is available publicly at http://actuaries.ca/members/publications/2007/Final%20CIA_Retirement_e.pdf (I don't know how to turn that into a clickable link. You can also go to www.actuaries.ca, click on English and you'll see it on that page) If you're in Toronto and really interested in pensions, you can attend the public launch of "The Prescription for Canada's Ailing Pension System" on June 25th. The President of the CIA (yes, that's we members call the Canadian Institute of Actuaries) is the luncheon speaker at the nonprofit Economic Club of Toronto, www.ecot.ca. I just registered and will likely post at http://riscario.blogspot.com. And no, I don't have an advance copy of the report. CanadianDream, the report is available publicly at http://actuaries.ca/members/publications/2007/Final%20CIA_Retirement_e.pdf (I don’t know how to turn that into a clickable link. You can also go to http://www.actuaries.ca, click on English and you’ll see it on that page)

If you’re in Toronto and really interested in pensions, you can attend the public launch of “The Prescription for Canada’s Ailing Pension System” on June 25th. The President of the CIA (yes, that’s we members call the Canadian Institute of Actuaries) is the luncheon speaker at the nonprofit Economic Club of Toronto, http://www.ecot.ca.

I just registered and will likely post at http://riscario.blogspot.com. And no, I don’t have an advance copy of the report.

]]> By: Sol Veritas http://www.canadiancapitalist.com/are-canadians-saving-enough-for-retirement-part-2/#comment-47646 Sol Veritas Tue, 19 Jun 2007 05:36:29 +0000 http://www.canadiancapitalist.com/2007/06/15/are-canadians-saving-enough-for-retirement-part-2#comment-47646 CD, the problem with your letting them "eat dog food" is that people who are forced to do this will raise hell, until the gov't steps in and robs from the ants to give to the grasshoppers (and immigrant spiders, if you've read that funny take on the old parable). Medicare is the simplified version of this. Yes, save the children, and their tax-paying parents, but there comes a point where the cost-benefit analysis breaks down for some senior citizens. If senior citizens were forced to pay a percentage of the services required for them, say based on a sliding scale of their tax-receipts for the past 10 or so years (compared to average or median or whatever), then you may compel more people to save for that eventual day when maybe, just maybe, a new hip would come in nice and handy. My choices --> spend today or stolen tomorrow = spend today every time. It's cynical yes, but I spend a lot of time thinking about how wastrels should not get my money just because they out-number me. CD, the problem with your letting them “eat dog food” is that people who are forced to do this will raise hell, until the gov’t steps in and robs from the ants to give to the grasshoppers (and immigrant spiders, if you’ve read that funny take on the old parable). Medicare is the simplified version of this.

Yes, save the children, and their tax-paying parents, but there comes a point where the cost-benefit analysis breaks down for some senior citizens.

If senior citizens were forced to pay a percentage of the services required for them, say based on a sliding scale of their tax-receipts for the past 10 or so years (compared to average or median or whatever), then you may compel more people to save for that eventual day when maybe, just maybe, a new hip would come in nice and handy.

My choices –> spend today or stolen tomorrow = spend today every time. It’s cynical yes, but I spend a lot of time thinking about how wastrels should not get my money just because they out-number me.

]]> By: Canadian Dream http://www.canadiancapitalist.com/are-canadians-saving-enough-for-retirement-part-2/#comment-47485 Canadian Dream Mon, 18 Jun 2007 21:37:59 +0000 http://www.canadiancapitalist.com/2007/06/15/are-canadians-saving-enough-for-retirement-part-2#comment-47485 CC, Thanks for the summary of the report. I'm glad to see someone was able to get a copy of it. I agree in general that a lot of people believe in spending every last dime that comes into the home. I see it in my own extended family. Yet, it is their choice. Live for now and eat dog food in retirement. (Sorry, I couldn't stop myself from using that old line.) CD CC,

Thanks for the summary of the report. I’m glad to see someone was able to get a copy of it.

I agree in general that a lot of people believe in spending every last dime that comes into the home. I see it in my own extended family. Yet, it is their choice. Live for now and eat dog food in retirement. (Sorry, I couldn’t stop myself from using that old line.)

CD

]]> By: Canadian Capitalist http://www.canadiancapitalist.com/are-canadians-saving-enough-for-retirement-part-2/#comment-47387 Canadian Capitalist Mon, 18 Jun 2007 18:41:25 +0000 http://www.canadiancapitalist.com/2007/06/15/are-canadians-saving-enough-for-retirement-part-2#comment-47387 Phil: I am not very familiar with US retirement accounts. The tax pre-paid account that the Tories originally proposed would have been in addition to RRSP accounts. For some reason, they dropped the idea entirely in the last election. Phil: I am not very familiar with US retirement accounts. The tax pre-paid account that the Tories originally proposed would have been in addition to RRSP accounts. For some reason, they dropped the idea entirely in the last election.

]]> By: Phil S http://www.canadiancapitalist.com/are-canadians-saving-enough-for-retirement-part-2/#comment-47309 Phil S Mon, 18 Jun 2007 15:06:45 +0000 http://www.canadiancapitalist.com/2007/06/15/are-canadians-saving-enough-for-retirement-part-2#comment-47309 Hi CC. So what you're talking about is like the Roth IRA down in the USA? The problem with the Roth IRA is that it's an either/or choice between the traditional IRA and the Roth IRA. Although statistics show that the Roth IRA is better than a traditional IRA, when I worked south of the border, I would still choose the traditional IRA in a heartbeat because I wanted the tax benefit NOW, not later. If we could contribute to BOTH, then heck yeah, I'd be all for it. Politicians of all stripes have a tendency to lie in order to get elected. But Harper's government seems to have lied a lot more than usual. In contrast, the conservative government of Mike Harris actually did most of what he said he would do during his election campaign. He still got lambasted by protesters for doing that, of course. Hi CC. So what you’re talking about is like the Roth IRA down in the USA? The problem with the Roth IRA is that it’s an either/or choice between the traditional IRA and the Roth IRA. Although statistics show that the Roth IRA is better than a traditional IRA, when I worked south of the border, I would still choose the traditional IRA in a heartbeat because I wanted the tax benefit NOW, not later. If we could contribute to BOTH, then heck yeah, I’d be all for it.

Politicians of all stripes have a tendency to lie in order to get elected. But Harper’s government seems to have lied a lot more than usual. In contrast, the conservative government of Mike Harris actually did most of what he said he would do during his election campaign. He still got lambasted by protesters for doing that, of course.

]]> By: Canadian Capitalist http://www.canadiancapitalist.com/are-canadians-saving-enough-for-retirement-part-2/#comment-47295 Canadian Capitalist Mon, 18 Jun 2007 14:13:48 +0000 http://www.canadiancapitalist.com/2007/06/15/are-canadians-saving-enough-for-retirement-part-2#comment-47295 Top of my wish list is a tax pre-paid account. No tax deduction upfront but no tax on withdrawals. I don't know why the conservatives dropped this from their plan and instead "promised" a half-baked capital gains exemption idea. Top of my wish list is a tax pre-paid account. No tax deduction upfront but no tax on withdrawals. I don’t know why the conservatives dropped this from their plan and instead “promised” a half-baked capital gains exemption idea.

]]> By: Phil S http://www.canadiancapitalist.com/are-canadians-saving-enough-for-retirement-part-2/#comment-47282 Phil S Mon, 18 Jun 2007 13:42:38 +0000 http://www.canadiancapitalist.com/2007/06/15/are-canadians-saving-enough-for-retirement-part-2#comment-47282 Hi Hepman. I didn't say that I personally had trouble saving outside of an RSP account. I said that Canadians in general have a tendency to spend everything that isn't locked into an RSP. This is just from anecdotal observations of behaviour that I've witnessed among my friends and co-workers. Hi Hepman. I didn’t say that I personally had trouble saving outside of an RSP account. I said that Canadians in general have a tendency to spend everything that isn’t locked into an RSP. This is just from anecdotal observations of behaviour that I’ve witnessed among my friends and co-workers.

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