If it wasn't when I tried it 30 years ago (the money managers took any
gains --and sometimes more), why would it now???
Darryl
On 1/22/2011 6:42 AM, Ed Weick wrote:
In the following posting I ignore the possibility of investing the
money instead of just putting it aside as savings. That could make a
difference though at $10 or $100 probably not enough to make a _real_
difference.
Ed
----- Original Message -----
*From:* Ed Weick <mailto:[email protected]>
*To:* [email protected]
<mailto:[email protected]>
*Cc:* [email protected]
<mailto:[email protected]>
*Sent:* Saturday, January 22, 2011 9:19 AM
*Subject:* [Futurework] Saving for retirement?
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
------------------------------------------------------------------------
_______________________________________________
Futurework mailing list
[email protected]
https://lists.uwaterloo.ca/mailman/listinfo/futurework
_______________________________________________
Futurework mailing list
[email protected]
https://lists.uwaterloo.ca/mailman/listinfo/futurework
_______________________________________________
Futurework mailing list
[email protected]
https://lists.uwaterloo.ca/mailman/listinfo/futurework
