To Retire, or Not to Retire: That’s the Question by Peter Yurek, BSc. Phm .
There is also the less obvious question: What will replace my job?
A career provides more than a paycheque. It can provide routine, friendships, challenges, status and a sense of purpose. Some people discover that endless free time isn’t quite as satisfying as they imagined. Continuing to work has advantages. You keep earning income, remain socially connected and continue using skills and experience you accumulated over decades. Statistics Canada reported that in 2023, about 10% of Canadians 55+ who had previously retired were working again. Working longer can also improve your financial position. You can work while receiving CPP, and continued CPP contributions may generate additional Post-Retirement Benefits. Delaying OAS beyond age 65 can increase the monthly benefit by 0.6% for every month delayed, to a maximum increase of 36% at age 70. Of course, continuing to work has a cost: time. Healthy, active years aren’t guaranteed. Staying in a job you no longer enjoy simply to accumulate more money may mean postponing pleasures you’ve spent decades dreaming about. Fortunately, retirement doesn’t have to be an either/or decision. Part-time work, consulting, mentoring, volunteering or starting a small business can create a middle ground. Perhaps the better question isn’t, “When should I retire?” It may be, “What do I want the next chapter of my life to look like?” Then build your retirement — or your working life — around the answer. I believe that’s what my Dad did.
If my father were alive, he would be over 98. For many of his cronies, and even my peers, retirement was viewed as the reward waiting at the end of a long working life. Put in your years, collect your pension and finally enjoy your freedom. Today, however, some people are There are good reasons to say yes. If you are financially prepared, retirement can open an entirely new chapter rather than simply end a career. Retirement gives you something increasingly precious: time. Time to travel, see grandchildren, volunteer, exercise, pursue hobbies or simply enjoy mornings without an alarm clock. Leaving a demanding job may also reduce stress and provide an opportunity to focus more attention on your health and relationships. asking a different question: Do I really want to retire? But retirement has disadvantages too. The most obvious is financial. Canada Pension Plan (CPP) and Old Age Security (OAS) provide a useful foundation, but even the federal government cautions that public pensions aren’t intended to cover all retirement needs.
519-633-9691 1030 Talbot Street St. Thomas Monday to Saturday 8am - 8pm Sunday 8am - 6pm www.briwoodfarmmarket.com
Fresh local Honey Crisp Apples
Order your fresh turkey today!
Fresh local Squash
Fresh Cranberries
Fresh baked Pumpkin Pie
OPEN THANKSGIVING MONDAY 8AM - 6PM
Fresh local Sweet Potatoes
Freshness, Quality, Satisfaction and Ultimate Customer Service...always.
Hometown St. Thomas • October 2026 • Page 9
Get involved! Like us on Facebook!
Made with FlippingBook - Online catalogs