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Thread: Retirement Phobia .. if I Get There!

  1. #11
    For those of us outside of Canada, the RDSP is a Registered Disability Savings Plan:
    What is an RDSP?

    A Registered Disability Savings Plan (RDSP) offers benefits that are too good to ignore. Created by the federal government, the RDSP provides people with disabilities with an easy and effective way to save and invest for their long-term financial security. What's more, the government offers incentives in the form of grants and bonds to help you accumulate more. If you are a person with a disability or provide care to someone with a disability, you'll definitely want to know more about RDSPs.

    All the best,
    GJ

  2. #12
    Senior Member chris-k's Avatar
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    I think many folks with a disability have this "fear" to one degree or another, unless you are independently wealthy!

    Like willingtocope, I'm also in my 60's. My "retirement" plan is a patchwork too:

    1. work at least part-time until I can't
    2. collect a small pension (at 67)
    3. collect SS (I'm in the US) at 67
    4. income from my IRA (I can take it now if I need it)
    5. most importantly stay healthy!

    My wife works part-time too, but has a very small pension and very little in her IRA.

    I wish I had some good advice, but at age 40 I had almost nothing either and a pile of debt. With some luck, I was able to continue working full-time until my 50's, saved whatever I could (401K, IRA here in the US), and lived modestly taking one day and each year at a time. I hope it'll be enough, but nothing is guaranteed.

    I know the comments below sound simplistic and idiotic, but I'm a simple idiot .

    Quote Originally Posted by lynnifer View Post
    P.S. And I'm in dire need of a vacation! lol
    Then take one! You push yourself too hard. The idiots where you work don't help either.

    Quote Originally Posted by lynnifer View Post
    If I follow my mother, none of her family lived past 65 ... that's merely 50. What if I only have 10yrs left!?!?!?!?
    Simply make the best of where you are now!

    Quote Originally Posted by lynnifer View Post
    So what if I make it to 85?
    Worry about that when it happens...

    Quote Originally Posted by lynnifer View Post
    I like my solitude far too much. lol Sadly, I think there is something very fundamentally wrong with me too - I don't think like other people at all. I'm always the outlier.

    Who can plan for all of this???
    Nobody can plan for everything IMHO. You may enjoy your solitude, but it will leave you isolated. Find some friends who think like you. You aren't the only crazy Canuck up north! CC is a great place for info and to rant, but it is not a substitute for the real world and real people.

    The opinions expressed above do not reflect the official policy of the CC community or it's members. Just me and my dumb thoughts.

  3. #13
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    lynn, build yourself a strict plan. Keep to it. Forget about something like vacation or any other kind of things that do not fit the long term picture you have for yourself. Don't plan on marriage, a jackpot or any other kind of income you are 100% sure of. You NEED to stick to the plan and do not let "wishes" sidetrack you. Maybe the plan is even something that is incremental, but at least starting plan and sticking to it will give you the opportunity to expand on it once you have created a firm foundation.

  4. #14
    The government then puts in $4500 in a bong that you can't use until you're 60, but it gives you a nice chunk of cash.
    Er... I meant bond...

  5. #15
    Senior Member brucec's Avatar
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    Quote Originally Posted by lynnifer View Post
    I'm totally scared.

    Last week, I received my pension update ... it seems like only yesterday that it said $2000 per year. I can't believe I have almost 14yrs seniority where I work ... 17 more to go! I can retire without penalty at age 57. I am now 40.

    Working it out, that's about $2000 per month for pension alone.

    I had a retirement savings besides ... but had to dip into it in the last four years that my ex has been gone and left me with the condo financially on my own. I pretty much cleaned it out though I started one up again last year.

    I am shitting bricks.

    I don't know if I'm going to make it to retirement working full-time. What if I do? What if I don't? What if there's a treatment that becomes available?

    I seem to follow my dad's side and they live well into their 90's.

    Free advice please! LOL
    you went from 2k a year to 2k a month, sounds like good money if you keep it up in 17years
    We must reject the idea that every time a law's broken, society is guilty rather than the lawbreaker. It is time to restore the American precept that each individual is accountable for his actions.
    Ronald Reagan

  6. #16
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    Quote Originally Posted by christopher View Post
    Er... I meant bond...
    Oh, yeah your on the other side, our present president just might do the original... move back to Hawaii where he was infamous for it.

  7. #17
    Chris..I enjoy reading your posts. You are so positive and helpful and sometimes "simplistic" is the best advice.

    staying Healthy is the hard part but critical part to any plan...it does pay off...if you do it right and the bad luck doesn't hit. My biggest issue is exercise..I always find a reason (work) not to do it. Last two times I started I got railroaded (hurt hand and stomach issues) ...I sit here now with a sore butt and swollen legs lol.

    But we have to work...to save, to plan for later..and it is hard to balance all the priorities in your mind. Especially when the calculator tells you, you are screwed.



    Quote Originally Posted by chris-k View Post
    I think many folks with a disability have this "fear" to one degree or another, unless you are independently wealthy!

    Like willingtocope, I'm also in my 60's. My "retirement" plan is a patchwork too:

    1. work at least part-time until I can't
    2. collect a small pension (at 67)
    3. collect SS (I'm in the US) at 67
    4. income from my IRA (I can take it now if I need it)
    5. most importantly stay healthy!

    My wife works part-time too, but has a very small pension and very little in her IRA.

    I wish I had some good advice, but at age 40 I had almost nothing either and a pile of debt. With some luck, I was able to continue working full-time until my 50's, saved whatever I could (401K, IRA here in the US), and lived modestly taking one day and each year at a time. I hope it'll be enough, but nothing is guaranteed.

    I know the comments below sound simplistic and idiotic, but I'm a simple idiot .



    Then take one! You push yourself too hard. The idiots where you work don't help either.



    Simply make the best of where you are now!



    Worry about that when it happens...



    Nobody can plan for everything IMHO. You may enjoy your solitude, but it will leave you isolated. Find some friends who think like you. You aren't the only crazy Canuck up north! CC is a great place for info and to rant, but it is not a substitute for the real world and real people.

    The opinions expressed above do not reflect the official policy of the CC community or it's members. Just me and my dumb thoughts.
    "The trick is in what one emphasizes. We either make ourselves miserable, or we make ourselves happy. The amount of work is the same.” ~Carlos Castaneda

  8. #18
    The RDSP plan sounds great, keep dumping as much money as you can there. If long term care is as much an issue in Canada as it is here try to buy ltc insurance through a group work plan. Here in the USA full time chair users are disqualified in the application process, however, if you are part of a group plan there may not be health based entrance requirements. We were never able to access an ltc program.

    My wife and I are chair user retirees, we were lucky to be eligible for defined benefit retirement pension plans. We also were able to keep our health ins plans to supplement Medicare post retirement. We understand that both these benefits are something today's US workers cannot count on. We also religiously maxed out on 401K plans for almost 20 years. These 2 sources plus SS have allowed us a comfortable retirement during which we have still been able to keep accruing savings. It is much harder I think to accumulate money as we did as a single person, there is a lot of truth to the old saying, "Two can live as cheaply as one."

    Sherocks makes a good point in regard to safeguarding health being the most important issue regarding a good, secure retirement. I have made safeguarding my shoulders a top priority, I now use transfer boards whenever possible, do gravity transfers to/from pwr van seats, etc.

    Try not to let retirement issues become an anxiety provoking issue, just do what you can afford to plan ahead then don't worry. We worried too much pre-retirement about getting by on reduced income but found out post retirement that we were doing just fine.

  9. #19
    Senior Member lynnifer's Avatar
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    Well... regarding health. A lot of issues have come up for me at age 40. Issues that a 28yr paralyzed person should go through ... so I worry about where I'll be in another ten.

    It's too bad it happened so young at 12 .. makes it difficult to plan.
    Roses are red. Tacos are enjoyable. Don't blame immigrants, because you're unemployable.

    T-11 Flaccid Paraplegic due to TM July 1985 @ age 12

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