Many of us, especially those longer in the tooth, picked up a guitar in high school and have dragged it around ever since, occasionally trotting it out to pick out the opening notes of Stairway to Heaven.

But the experts say taking up an instrument more seriously in your later years can actually be more than a party trick, but a boost to your overall health. Save with SPP scoured the Interweb to find out a little more on this topic.

At the New Music World website, we find out that “research has shown that playing an instrument can improve literacy and math skills, enhance verbal memory, spatial reasoning and cognitive function, as well as increase discipline and time management skills.”

Wow!

Physical benefits of playing an instrument, the article continues, include “improved hand-eye coordination and increased fine motor skills.” Your mental health, the article adds, benefits from “reduced stress and anxiety” and “improved memory and cognitive skills.”

And on the social interaction side, playing an instrument can present “opportunities for collaboration.” We remember our basement high school band fondly – a very loud and badly tuned memory, but a good one.

The article says there are also emotional benefits that come with playing an instrument, as playing “allows you to express emotions” and can increase your empathy skills.

Canadian music company Long & McQuade provides some more thoughts on the topic.

Playing an instrument, the article notes, “promotes brain development in the same areas related to language and reasoning skills for children. Studies show that children who learn music tend to perform better in math and reading.”

It’s also a benefit, the article suggests, to your personal growth.

“Music is a lifelong journey. Learning to play an instrument provides endless growth opportunities, whether you’re a child taking your first lessons or an adult returning to an instrument after years away,” the article notes.

“Learning music encourages a mindset of lifelong learning, pushing yourself to improve and expand your skills and craft. This quest for knowledge can lead to newfound passions and interests that enrich life and make you feel like you are `levelling up,’” the article concludes.

The Scientific Origin blog points out a few more benefits of learning to play.

Music playing “increases discipline and patience,” the blog notes.

“The daily commitment to practice teaches musicians how to manage their time effectively and stay focused on their goals. For children, this structured discipline often carries over into their schoolwork and extracurricular activities, helping them develop better study habits and time-management skills,” the blog notes.

It also boosts your individual creativity; the blog tells us.

“Music provides a vast canvas for self-expression, allowing you to explore and experiment with different sounds, melodies, and rhythms. As you grow more proficient with your instrument, you gain the freedom to compose your own pieces, improvise, or re-interpret existing music in unique ways. This creative exploration strengthens your ability to think outside the box and approach problems with an innovative mindset,” the blog states.

Some final thoughts come to us from the Musical Pursuits blog.

Playing an instrument can help ward off “age-related hearing loss,” the blog reports.

“Many studies prove that musicians are less susceptible to the deterioration of the auditory cortex. It means they can hear better despite the aging process,” the blog adds.

The final, and most important thought from all the articles is that playing music makes you happy.

“Science reveals that music releases a chemical in your brain called dopamine, which not only improves your mood and decreases anxiety, but also helps the production of stress-reducing cortisol, inducing pleasure, joy and motivation,” the blog tells us.

A lot of the findings listed here have been borne out by our personal experiences. Our late father was a fine pianist – even when battling dementia, he could still play any song anyone called out, always in the key of C. There were other folks in the memory care ward who didn’t speak much but could still play harmonica or accordion.

Our mother’s folks played mandolins together for all their long marriage, and grandma lived to a ripe old age of 98.

We have had the time to play more often since our retirement from full time work over a decade ago, and we’re getting a little better. The dogs now lie down and listen rather than howling for an end to it – progress!

Getting out of the workforce is one thing, but being able to afford post-work life is another. As we always say, look for work in your younger years where a pension or retirement program of some type is offered. If there isn’t such a program where you work, consider the Saskatchewan Pension Plan, which is available for individuals to join, or can be leveraged by organizations as their company pension plan. You provide the contributions, we do all the rest – investing your savings dollars in a low-cost, professionally managed pooled fund. At retirement your income options include a monthly annuity payment for life, or the more flexible Variable Benefit option.

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What to do if your savings have dried up – and you are still going strong

A recent article from MoneySense explains that even if we outlive our savings, we still have some options.

Not everyone, the article begins, is able to save for retirement, or has some sort of pension program at their workplace. The article cites the example of Cheryl, 60, “a single parent with low income” who suffered a workplace injury and is now receiving modest Ontario Disability Support Program benefits.

Or Shannon, who along with her husband works full time, but is struggling to make ends meet, the article continues. “We have good educations and somewhat good jobs,” she tells MoneySense, “but at the end of the month, there’s not much left over.

“Canadians today are living longer than previous generations, and not everyone has the financial means to support themselves throughout retirement. According to the latest data from Statistics Canada, six per cent of Canadian seniors lived below the poverty line in 2022. And at present, nearly eight per cent of food bank clients are seniors,” MoneySense reports.

So what should you do if you have run out, or are running out, of savings? MoneySense has some suggestions.

Be sure, the publication advises, to file your income taxes on time. “If you’re a low-income earner who isn’t filing their taxes, you’re missing out on all sorts of benefits. It’s one of the worst things you can do financially,” certified financial planner Jackie Porter tells MoneySense.

For example, low-income seniors who file their taxes on time are “automatically enrolled for the Guaranteed Income Supplement starting at age 65 and receive tax-free payments on a monthly basis.”

Next is budgeting – do you have one and are you sticking to it, the publication asks.

“Take a good look at your budget and cash flow,” MoneySense suggests. “Answer this question: does your income (including Canada Pension Plan and Old Age Security and other government payments) cover your fixed and variable expenses? Expenses can include rent or mortgage payments, insurance premiums, car payments, groceries, entertainment, etc. If your income falls short of your expenditures, establish a budgeting goal based on the gap that you’ve identified,” the publication continues.

OK – be sure you are signed up for any government programs and are spending less than what you bring in. What other thoughts does MoneySense have?

Low-income homeowners might want to consider a reverse mortgage, the publication reports.

“Here’s how it works: If you’re 55 or older, you may be able to borrow up to 55 per cent of your home’s appraised value. These funds are tax-free and can be received in a lump sum or monthly installments. Interest is charged on all borrowed funds, but the balance isn’t typically due until the home is sold or until the last surviving homeowner dies (whether that’s you, your partner or a property co-owner),” MoneySense advises.

You may, the publication continues, be able to access some of the cash value in your term or whole life insurance policy. “Cashing out the policy means you’ll have some money but no life insurance, while borrowing against the cash value means you’ll get a loan while retaining the policy,” MoneySense notes, adding that those considering this option should first seek professional advice.

There’s a way to take some or all of your savings to produce an income stream that won’t run out – converting savings to a lifetime annuity payment. This is an option for retiring members of the Saskatchewan Pension Plan. With an SPP annuity, you’ll receive a monthly payment for life, and depending on the option you choose, your surviving spouse or beneficiary may be eligible for benefits when you pass away.

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How to stay calm and carry on during a period of tariffs and economic roller-coastering

There were some weeks in the past few months where we studiously avoided watching TV news or “doomscrolling” on social media. The tariffs, the bluster about annexation and statehood, the scary ups and downs of the markets – it’s a lot.

To figure out what to do we made a call to Janet Gray, an advice-only Certified Financial Planner with Money Coaches Canada.

Overall, her message was one of staying calm, and not being “impulsive or reactive.”

“We’ve been here before,” she says of the economic and market uncertainty, noting that there is usually volatility in the markets when there are big question marks on where the economy is going. She recalls similar wild up and down markets during the 9-11 crisis, the pandemic, and the credit crunch of 2008-9.

This current tariff war, she notes, is a brand of “idiocy we have never seen before,” but it’s having similar effects to previous uncertainties.

“The messaging for people is the same,” she advises. “It’s hold the course… don’t take on new debt if you can wait,” and think twice before making any big discretionary spending decisions. The tariff situation, she explains, has not yet played out fully but could lead to things like higher unemployment or higher interest rates.

You don’t want to buy a house or a car in a period where you might lose your job, or lending rates start to rise, she explains.

“This is a time to hunker down, and to support the local and national economy” by buying Canadian, she continues. There’s a crisis, sure, but it will have an end point, she predicts.

“Even after 2008/9, the markets did return,” she notes. Many sold off their positions in a panic; others chose not to “buy low” when market prices were way down.

“So, it’s a time for patience. Wait it out. Don’t watch a lot of media, and be prepared to talk with your financial adviser,” she says.

Volatile times for markets, and the potential for scarcity and higher prices for goods and services, would be managed more easily by those who have a good financial plan, she suggests.

“If people had a plan, they might not feel this way,” she notes, adding that any long-term plan ought to call for the setting aside of some cash reserves for a time of instability whenever that occurs. Another way to safeguard your savings from market swings is to “have a diversified portfolio in the first place.”

If you are young, say in your 30s, time is on your side and there are still decades coming your way with higher market returns, says Gray.

The market ups and downs are particularly worrisome for older folks who are facing mandatory withdrawals from their registered retirement income funds (RRIFs), she continues. For them, she recommends keeping enough cash in your portfolio to cover several years of scheduled withdrawals. That way you are avoiding “selling low” to cover the cost of your RRIF withdrawal, she explains.

She calls this a “cash wedge” strategy.

Another way to eliminate or reduce the RRIF withdrawal issue is to convert some or all of your RRSP to an annuity. “An annuity is a way of hedging your bets – you get the security and safety and confidence of continued payments even if the markets go down.”

In conclusion, Gray says we are in a period of “short-term pain,” so we focus on needs over wants and think about “reducing, minimizing or delaying discretionary spending.” Maybe take a small local vacation this year, and “go big in the future” when times are back to normal.

Planning, she reiterates, is essential. “Every dollar you make should have a job,” she says.

And don’t get scared by the headlines. “People react more to negative news,” she notes. Remember, she says, that slow and steady progress is the key to financial success, a “tortoise versus hare” way of thinking.

We thank Janet Gray, as always, for taking the time to talk with us.

Annuities are one of the retirement income options provided by the Saskatchewan Pension Plan. With an annuity, you convert some or all of your SPP account balance to a monthly lifetime payment. SPP’s annuities come in several varieties that offer benefits to a surviving spouse or beneficiary. Your annuity payment will never vary, even if market conditions take a downward turn.

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Planning, spending and social connections called keys to retirement success

Writing for Yahoo! Finance, Robert Powell outlines what he feels are the key steps to having “a happy, successful and wealthy retirement.”

He quotes Christine Benz, author of How to Retire, as noting that you need to “visualize your retirement lifestyle and put habits in place to make it happen.”

“The point is that we’re all wired a little bit differently in terms of what we want from our retirement cash flows,” Benz tells Yahoo! Finance. “A broader message of this book is there’s more than one way to do this. … You should give a little thought to what you specifically are looking for.”

We recall, at another pension plan we worked for, hearing the anecdote that if you asked 100 people what an ideal wedding would look like, you would get 100 different answers. The same would be true, we were told, if you asked them to describe retirement.

Benz shares in the article some of the insights she learned in putting together her book.

She notes that “phasing into retirement” rather than leaping in, may be the best approach. “You don’t have to take concrete steps; you can just start thinking about which parts of your work you like and dislike,” the article explains.

“Consider making decisions about your work life in the years leading up to retirement, either in `stealth mode’ or through candid discussions with your employer. Then, take additional steps, such as saving contact information and personal files from your work computer,” the article continues.

And, maybe you start “dabbling” in post-retirement activities early, “before fully retiring,” the article suggests. It’s important to realize, the article stresses, that you need to have something concrete planned to do in the new, expansive swath of free time you’ll soon have.

Benz notes that Michael Finke of the American College of Financial Services told her in an interview that “retirement is not all about relaxation, leisure activities, and free time. After all, you need something to relax from.”

Finke’s advice, she relates to Yahoo! Finance, is to “find an `animating force’ that provides a sense of purpose in retirement, such as volunteering, continued work in some capacity, or reengaging with family.”

Another finding, Benz relates, was the value of social connections in retirement. She learned about that, the article notes, from interviews with Laura Carstensen of the Stanford Center on Longevity.

You will, the article explains, need to build “day to day interactions” with people after work. “Make sure that you are replacing work friendships with friendships outside of work because those work friendships may not stand the test of time,” Benz tells Yahoo! Finance.

“It’s OK to have your network shrink a little bit as you age,” she states in the article, adding that “you don’t want that social network to get too small. You don’t want to be down to just, say, two or three people.”

Another area of post-retirement success is on the spending side, the article notes. There’s the problem of the “spending smile,” referring to the shape of the post-work spending pattern – it tends to drop off early in retirement but then builds near the end due to possible long-term care costs.

Benz quotes Dave Blanchett of PGIM DC Solutions as saying he’s a believer “in people giving themselves a little bit of permission to spend more earlier on.” People tend to try and avoid spending in retirement, the article notes, because after a lifetime of saving for retirement, it is strange to have to draw down the savings.

The article concludes with a look at asset allocation for post-work savings. She quotes J L Collins, author of The Simple Path to Wealth, as suggesting using “a simple index-fund based portfolio with a bit of cash, focusing on stock and bond market indexes, rather than overly complicated investments.”

There’s a lot to like, she states in the article, about a simpler, minimalistic approach.

For Saskatchewan Pension Plan members reaching retirement age, there are a number of income options that turn savings into spendable money. SPP’s lineup of annuity options will provide the retiring member with income for life. If you want to keep on investing your savings, the Variable Benefit option may be a more flexible choice.

Check out SPP today!

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Every once in a while, a bit of life advice comes our way – things like “happy wife, happy life,” or why the glass should be half-full and not half-empty.

There’s more to life than money, so Save with SPP decided to roam the Internet in search of more life tips.

From the Inc. website, we find this bit of advice – “don’t dwell on the past, and don’t daydream about the future, but concentrate on showing up fully in the present moment.”

There’s also this thought – “don’t make assumptions…. if you don’t know the situation fully, you can’t offer an informed opinion.”

A third idea is that “life is not so much what you accomplish as what you overcome.”

The Thrive Global blog provides us with a few more deep thoughts.

“Your life is your responsibility,” the blog begins. “There is one person and one person alone over which you have control in this life – and that is yourself.”

As well, a classic one, “your word is your bond.” The blog explains that “our words can bring us together or tear us apart. Remember this power before you speak.”

“Release,” the blog advises, “the idea that things could’ve been better any other way. There’s no point in wondering what if… there is only the way things are.” The blog goes on to point out “it’s useless to try and make sense of the past,” which in itself is only “a recollection kept alive by your belief in its importance.”

There’s some more interesting advice from the Live Bold & Bloom blog.

“Have the courage to live a life true to yourself, not the life others expect of you,” the blog suggests.

Another interesting thought is “remember you’ll always regret what you didn’t do rather than what you did.” The blog explains further that “no one grows and develops by staying in their comfort zone.”

And finally, quoting David Foster Wallace, the blog notes that “you’d worry less about what people think of you if you knew how seldom they do.” This is a wise variation on the idea that it isn’t all about you, at least in our opinion.

Final thoughts from the Life Hack blog.

“Most things are not as bad as you think they are,” the blog begins, adding “don’t make things worse than they really are.”

“Be considerate of others,” the blog continues. This includes things like arriving on time, the blog explains.

And finally, “the power of habit can transform your life.” The blog explains that developing a good habit that you repeat daily “can transform your life.”

Common threads running through this collection of ideas would appear to be being self-aware, considerate to others, and conscious of your own actions and behaviours.

When it comes to our own favourite topic, saving for retirement, an axiom to think about is “pay yourself first.” There will always be bills to pay in life, but you can look after your long-term you by putting a little bit each way on the road to seniorhood.

A great place to stash those loonies is the Saskatchewan Pension Plan. Open to all Canadians with available registered retirement savings plan (RRSP) room, SPP invests your savings in a low-cost, professionally managed pooled fund. When it’s time to collect those savings as income, your choices include getting a monthly annuity payment for life, or the more flexible Variable Benefit.

Check out SPP today!

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Are retirement parties becoming a thing of the past?

We remember it well. After a little over 20 years at work, we turned in our security pass and headed for retirement. And to cap it all off there was a nice party in Toronto with work colleagues and friends. A great memory.

But, according to The Globe and Mail that retirement party in 2014 may well be a relic from a bygone era.

Take the example of B.C.’s Linda Lawrence, the newspaper suggests.

“The former marketing and communications professional planned to retire in June, but her role was suddenly eliminated last year when her employer was purchased by investors in the United States. She found out on an online call,” the Globe reports.

“After briefly considering finding a new job, Ms. Lawrence decided to retire early,” the article continues.

“Months later, the B.C. resident, now 60, says she has struggled with reconciling how her 30-year career ended with zero fanfare. She had long looked forward to celebrating her retirement in the company of loved ones and colleagues like her parents had, but that didn’t happen,” the Globe notes.

“I couldn’t wrap my head around it,” she tells the Globe. “I felt cheated.”

It’s not an uncommon feeling, the article continues.

“While a workplace retirement party was once seen as a rite of passage marking the end of one’s career and the start of a new chapter, many departing employees are leaving without sheet cakes and novelty-sized farewell cards – and with a lack of closure,” the article explains.

Retirement coach Marilyn Hintsa tells the Globe the retirement party “is a tradition that appears to be waning.”

“People retiring now have lower expectations about what happens when they retire. I think it’s unfortunate that it’s happening, especially if you put in a lot of years with that employer,” she tells the Globe.

“If Wednesday is your last day at work, Thursday is your first day of retirement, and there’s not some line that’s drawn between that, the first day will be tough,” she states in the article.

Why is the tradition changing?

The Globe cites a number of factors, such as “shorter average job tenures” and the rise of remote and hybrid work. Shrinking company budgets, where the onus is on employees to pay for gifts and parties rather than the company, is another factor.

A smaller party is better than no party, the article suggests.

Last word to B.C.’s Linda Lawrence, who believes “organizations should play a role in recognizing retirees’ contributions and wishing them well in their new chapter.”

“What does it cost to send an email,” she asks.

Whether or not you get a gold watch or a slice of cake, retirement is still something to look forward to, particularly if you have retirement savings.

If you don’t have a workplace pension, fear not. The Saskatchewan Pension Plan has a do-it-yourself, voluntary defined contribution program ideal for individuals or organizations. You determine how much you want to contribute, and SPP does the rest, investing your savings dollars in a low-cost, professionally managed pooled fund. And when it’s time to start life after work, your SPP options include the chance of a lifetime monthly annuity payment, or the more flexible Variable Benefit.

Check out SPP today!

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In her book Effortless Frugality: 25 Tips to Save Money and Maximize Efficiency, Jenny Koo’s goal was to provide “a practical guide for anyone looking to incorporate frugal living into their daily routine.”

“Adopting a frugal lifestyle doesn’t mean compromising on quality or comfort; rather, it emphasizes making smart, sustainable choices that enhance our lives and reduce waste,” she continues.

And then, this slim but information-packed book launches into details on 25 money-saving and often environmentally friendly frugality tips.

There’s the idea of turning old sheets into curtains, “an excellent way to save money on home décor while reducing waste.” All you need, the book advises, are some old sheets, scissors, a sewing machine (or fabric glue) and a curtain rod and hooks.

Our first apartment featured curtains that were made out of an old Halloween costume – a Scotsman’s kilt – that we still had lying around a few years later! A fine tartan design touch.

There’s the idea of converting old jeans into cut-off shorts, as well as a section on how to braid old clothes into braided rugs. “Karen, a retiree looking for a new hobby, created a beautiful, braided rug from her old clothes. Not only did she enjoy the creative process, but she also produced a durable rug that added charm to her living room,” Koo writes.

There’s an idea our parents used to employ – saving old jars from things like pasta sauce “for pantry organization,” a move that “not only saved money, but also made (the) pantry more visually appealing and easier to navigate.”

Each of these ideas is accompanied by clear, easy-to-follow instructions.

There’s the idea of ditching your disposable razor and picking up an old-style “safety razor” like your dad or granddad used to use. That keeps the disposable razors out of landfills and provides “a more durable and cost-efficient” shave over time, Koo writes.

Avoid using disposable plastic “single use” plastic wraps by using “beeswax wraps, silicone wraps, and fabric bowl covers,” Koo suggests. This is how we used to roll in the 1960s, before plastic wrap was rolled out. Reusable non-plastic wraps save on waste and save you money, she explains.

Getting a rain barrel and attaching it to your downspout gives you a nice, free supply of water for “non-potable uses, such as watering plants or cleaning.” Our neighbour does this, and it is surprising how strong a flow of water is delivered via the tap on his rain barrel.

There’s the idea of an indoor drying rack to save using a dryer, and another one we often do, to “bake multiple items in the oven at once to save energy.” Both take some money off your gas or electric bill.

There’s a bit on making your own apple cider vinegar, and on using leftover veggie scraps to make your own vegetable stock powder. There’s a recipe for a homemade herbicide (based on vinegar, salt, and dish soap) that Koo says can help control garden weeds without the use of “harmful chemicals.”

There’s a section extolling the value of shopping thrift stores for clothes, housewares, and books and media. “Donate any unused items back to the thrift store to continue the cycle,” advises Koo.

Final ideas include preserving fruits with a dehydrator, and making gifts, such as “knitted or crocheted items, homemade candles or soaps, or personalized photo albums or scrapbooks.”

“Adopting frugal living and productive habits may seem challenging at first, but remember that every small step counts,” advises Koo. “Start with one or two tips that resonate with you and gradually incorporate more into your daily routine. The journey to a more frugal and sustainable lifestyle is ongoing, and the benefits you reap will grow over time.”

Money saved in the short-term can often benefit you in the long term. How? By directing some of your savings to your retirement savings plan, your future you will benefit from today’s frugality. Consider the Saskatchewan Pension Plan when choosing a retirement savings partner.

Open to all Canadians with unused registered retirement savings plan (RRSP) room, SPP lets you contribute at your own pace to your plan. We do the heavy lifting of investing your hard-saved loonies in a pooled, low-cost, professionally managed fund. At retirement, you can select a lifetime monthly annuity payment, or other options such as the more flexible Variable Benefit.

Check out SPP today!

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How much should you be saving for retirement – article sets out savings targets

When, back in the 1980s, a colleague explained what a registered retirement savings plan (RRSP) was, and why it was a good way to save for retirement, our starting point was signing up for $25 a month.

We didn’t think about how much we should be saving and just picked an affordable amount out of thin air.

According to an article by Erin Spaht, writing for WUSA, retirement savings works better with a bit of strategizing, and less randomizing.

Spaht begins by saying retirement savings (and planning) “can feel overwhelming at any stage, especially when you’re just starting your career.”

That’s why experts have set some benchmarks, the article continues.

According to investment firm T. Rowe Price, “by age 35, you should aim to save one and a half times your current salary for retirement,” the article notes. By 50, the article continues, you should have saved 3.5 times your salary, and by 60, “six to 11 times your salary.”

If you are younger than 35, save what you can, the article stresses. “Even a small amount over a long period of time can have a big impact on your end results,” Spaht notes.

There are a couple of other great tips in this article (we have Canadianized as needed):

• If your employer offers any kind of retirement program, be sure you have signed up for it and are contributing to the max. Often, your employer will chip in as well, and that’s “free money” for your retirement piggy bank.
• “Set up and make your retirement contribution automatic and pay yourself first each month. As you earn more, financial planners advise saving more.”
• Over 50, you should consider making “catch up” contributions to any retirement savings vehicle you are using, such as an RRSP or Tax Free Savings Account.
• Review your “investment allocations” once you are 60. “Experts say your investment strategy should typically be more conservative with less invested in stocks which can be volatile.” (Boy, can they ever be volatile!!)
• Stick to a budget.
• You’ll get a larger monthly income from government programs like the Canada Pension Plan and Old Age Security if you start them later than age 65.

The article goes on to note that many people have multiple retirement savings accounts – say three or four different RRSPs from time at different employers. Don’t forget about these older and often small accounts, the article notes.

“With so much job movement, people sometimes forget where their money is or how much they contributed,” notes Usha Rackcliffe of Emory University. Right now in the USA there are 30 million “unclaimed” retirement savings accounts, valued collectively at an eye-popping $1.6 trillion.

Members of the Saskatchewan Pension Plan can transfer any amount from another non-locked-in RRSP to their SPP account. That’s a way of consolidating little bits of pension savings into a single, larger savings nestegg. And with SPP’s professional, low-cost investing, that pot of savings will grow while you work. At retirement, you’ll have options such as a monthly annuity payment for life or the more flexible Variable Benefit.

Check out SPP today!

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Maybe, as a kid, you looked for empty pop bottles in fields and empty lots, loading them up on your wagon and rolling over to the A&P for a cash refund – two cents for the standard bottle, and a whopping nickel for the big ones.

Or, perhaps you’ve saved up your empties and returned them to the beer store or bottle depot for a little cash.

Did you know that a use for those empties is helping charities? Save with SPP had a look around to see what good your empties can bring to others.

The group Boston Terrier Rescue Canada (BTRC) operates bottle drives in Ontario, Alberta, B.C., Quebec and Nova Scotia.

“Empties help fill bellies and pay vet bills,” the group notes. “In 2023, BTRC Team Empties volunteers raised $6042.65 by returning empties for deposit.”

“We are challenging people and businesses everywhere to start a #Recycle4Animals drive to collect refundable items in their area. It’s a cost-free way to raise money to help Boston Terriers while also protecting the environment,” the group notes.

The group’s website offers a list of locations where bottles can be either dropped off, or where pickup services are available, and contact details to find out more.

The folks at Empties for Paws want to “challenge Canadian residents and businesses to donate their empty alcohol containers to raise money to help local animal charities.”

Their website provides listings “of as many bottle drives as possible” across Ontario, and all profits from these efforts go to helping animals. Some of the bottle drives are carried out by the rescue organizations themselves, in other cases, donors arrange to have their empties picked up and cashed in for the charity.

“In Ontario, empty beer bottles and cans can be returned via the Deposit Return Program (through beer stores) for 10 cents each, making your empty two-four worth $2.40, which is also the average cost of a tin of wet cat food.” Imagine, the website asks, how much cat food and care could be provided if more people donated their empties.

Another example of empties in action is Ottawa-based BottleWorks.

“BottleWorks offers residential home pick-ups for Ottawa residents looking to donate their empty alcohol bottles, cans, and containers. BottleWorks can issue a tax receipt for the value of the bottles donated and you can feel good knowing that your empties are helping charity and supporting youth facing barriers to employment gain paid work experience, develop skills, and receive support to make a brighter future for themselves,” their website notes.

The group received a whopping 1.08 million empty alcohol containers in 2023, employs 15 young people, has 143 commercial partners, arranged 563 residential pickups and organized 20 bottle drives, the website adds.

So, if you are finding a growing collection of empties in the garage that you haven’t found the time to return, consider finding a charity in your area – they may not only be able to take those empties off your hands, but they’ll also put the money from them to good use.

We used to pick up empties when we walked the dogs in the park each morning. We’d put the money from that into our retirement piggy bank, along with things like money from scratch ticket wins and other loose change. When the bank got heavy, we’d take it to a coin counter, deposit the bills in the bank, and then make a contribution to our Saskatchewan Pension Plan accounts.

SPP took those hard-earned savings and invested them in their low-cost, professionally managed pooled fund. Both of us are now in receipt of lifetime monthly annuity payments from SPP! Another option is the more flexible Variable Benefit, but both options add up to retirement income you can use and enjoy!

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Report recommends we work until 67 before retiring

It’s not necessarily the news we all want to hear, but a new report from the C.D. Howe Institute is suggesting that – for retirement, at least – 67 should be the new 65.

The report’s findings were the subject of an article in the Saint John Telegraph-Journal.

“One of the review’s co-authors admitted that one of their key recommendations would be unpopular – changing pension rules so that older Canadians would have to slog it out longer,” the Telegraph-Journal reports.

C.D. Howe Institute’s Parisa Mahboubi tells the newspaper that “the government needs to inform the public about the benefits of increasing the retirement age.”

“Research shows that people are living longer and are healthier than previous generations, allowing them to contribute more. And if you compare the financial situation of older individuals today, compared to 20 years ago, in terms of the assets and debts that they have, many, many older workers today may need to work longer,” Mahboubi tells the Telegraph-Journal.

Other countries, the article continues, are moving their retirement dates to a later age to address factors like increased longevity. France, the article notes, moved their retirement age to 64 from 62, and Italy from 62 to 63 “before backing down and introducing other incentives to make people work longer.”

In Russia, women are retiring at 60 instead of the previous 55, and men at 65 instead of the previous 55, the article reports.

On the overall scorecard of the 38 most developed nations, the article notes that Canada is in the middle on retirement age and the start of government retirement benefits.

The C.D. Howe report cited early retirement incentives as a reason older workers are leaving their jobs at a time when the employment rate is in decline, the article notes.

“Consider this: Canada had half a million job vacancies in the latter part of 2024, most of them full-time (432,810 positions),” the article notes. “Nearly one-third of those postings were persistent and still available after 90 days.”

“At the same time, the employment rate declined to 61.3 per cent in 2024, down from 62.2 per cent the previous year,” the Telegraph-Journal adds.

Encouraging older people to work longer would address these issues, the study’s authors suggest. The article lists these C.D. Howe Institute recommendations:

• Raising “the normal retirement age” to 67 and delaying pensions until then.
• “Supporting older workers with flexible work, part-time options, and self-employment, especially in the Atlantic provinces.”
• More job training, especially in technology.
• “Streamlining credential recognition and licensure” for skilled immigrants.
• Enhancing settlement strategies for immigrants, including “workplace-focused language training.”

The article concludes with a final thought from Mahboubi – “I’m talking about jobs for some individuals that can change. Part-time jobs or jobs that don’t require significant physical activity, yes, why not? We need to be realistic about the challenges our economies will face with aging and make sure we don’t fall behind other countries.”

On a personal note, we were excited to start our Saskatchewan Pension Plan (SPP) annuity effective May 1, 2025. Our decision to go ahead and select the annuity at this time was based on a number of factors, such as the fact we won’t have a lot of RRSP room in 2025 and beyond, and that markets have been uncertain. We wanted the income certainty of the annuity option, with 100 per cent benefit of the payment continuing to our surviving spouse, because her mom just celebrated her 93^rd birthday. So the little boss will be around for a long, long time.

Check out SPP to learn more about their annuity options and the other choices you can make at retirement, including the more flexible Variable Benefit.

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