Well, there goes the garden space.
Darryl
On 1/22/2011 6:19 AM, Ed Weick wrote:
Pensions have had a lot of exposure in the media recently. On last
night's CBC news economist Amanda Lang and another lady, an expert on
pensions, were sitting at a table in a shopping mall advising anyone
who cared to ask what they should do to provide for their retirement.
It was a bit ironic because many of the people in the mall probably
had nothing to retire from - like a job.
What Lang and the pension guru told people was something like "Put
away a fixed amount every month, even if it's only ten dollars, and
let it build up." Hmm.... $10 a month is only $120 a year and only
$3,600 in thirty years in current terms. Is that enough to retire
on? Hardly. And even if one were putting away $100 a month, or
$36,000 in thirty years, would that be enough? Probably only if one
died in the thirty-first year.
The pension problem got me thinking about an article in yesterday's
Globe and Mail. It was called "Full House" and was about an
increasing trend of multi-generational families living together. Its
subtext said it all: "Kids in the basement, grandparents upstairs or
in laneway homes out back..." I guess that would be OK if everybody
in the family got along, but most families aren't like that. What if
my mother-in-law moved in? Where would I go? Probably way down the
basement behind the furnace.
And besides, would there be enough earnings or pensions in the house
to permit the family to make a go of it? One would hope so, but given
current and probably continuing uncertainties in the job market, its
an open question.
Ed
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