Friday, November 29, 2013

Grey Power: "putting money aside" (1)

In less than a year I turn 65. There won't be a big party so don't buy balloons. But the number is significant to me. It's a meaningful line I must cross in my life journey, like the Equator would be to a passenger who crosses it for the first time in an ocean liner. Already I've been thinking about the day it will happen.

Some thoughts were closely personal and came up during separate conversations about medical insurance, the Canada Pension Plan and my (age) 55-plus hockey team. I agreed to change insurance carriers, was prompted to apply for CPP early and wondered if there was a 65-plus team in town so I could be the youngest (and a star) on a team, and not the second oldest. (I know, Shakespeare is right: All is vanity).

Other thoughts were more social or political, and prompted by a recent report by Stats Canada about the greying population. Me. Maybe you. At least a growing number of Canadians.

["Some details reported Nov. 26, London Free Press"]

You may have heard the greying population referred to as the grey tsunami because it's a powerful force, one that may easily swamp some government services (e.g., medical, social) in the future. The report says a few words about the 'swamping' aspect of the greys and they touched a nerve in my (almost 65-year old) Boy Scout nature.

I read:

     By 2036, seniors will account for 23% to 25%
     of the Canadian population, and by 2061, the
     figure will be 24% to 28%, they say.

In my mind, we greys  won't exactly be taking over the streets but empty chairs will be scarcer at local coffees shops between 9 and 11 a.m. most weekdays. However, bigger concerns follow:

     What this means is that as the so-called baby
     boomers age there will be fewer people in line
     after them to pay for their care. 


     "There's a kind of an intergenerational difficulty
     in that," Beaujot said. "As we're preparing for a
     society that will have more health costs, we should
     have been putting money aside for that."

To me, I see red flags in the last statements. Big red flags, but not like the Canadian Maple Leaf. I don't think most Canadians and our current federal government are interested in saving up money for important future needs. We may instead be on the opposite course. 

["Photo at http://www.usada.org"]

Stay tuned. More to follow.
   
Photo by GH

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Please click here to read new skills at age 64

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