It’s Monday, the start of a new week.
Ask your embarrassing, silly, or worrisome questions. Come learn and discover without judgment.
It’s Monday, the start of a new week.
Ask your embarrassing, silly, or worrisome questions. Come learn and discover without judgment.
Appreciate the insight. I am an employee so you’re right, at least we’ve got that going for us (presuming the CPP is still a thing in 30 years).
It’s good to hear someone say it’s on not to save if there’s nothing to save. Seems like common sense but a lot of media makes it seem like we’re failures if we can’t save well. As if we can’t save because we’re spending badly when really we have old cars and high rent. I guess we could stop everything we do for fun (which isn’t excessive) but then what kind of a life is that?
I wouldn’t worry that much about that : The most recent triennial report by the Chief Actuary of Canada indicates that the CPP is sustainable over a 75-year projection period.
Based on our current knowledge, CPP running out of money is a myth.
Like everything, you don’t have to stop completely: for example, for multiple reasons, we recently decided with my family to reduce our meat consumption, going with 2 vegetarian and 2 vegan days per week ; to go local for our vacations which is usually cheaper ; to change our habits to spend more time outside of our house, for example in local parks or at the library ; to priorise picnics to restaurants when going on outings for the summer… it has had some good impact on our finance while not negatively impacting our quality of life.
Good news about the pension!
We’ve made a bunch of those kinds of changes too. It feels good but I’d rather not cut the cheap and cheerful stuff too. I don’t actually think it’ll come to that though.
Great, everything is going to be fine then!
Good luck!