17 Challenges Single Retirees Will Face

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In this video we'll go through 17 challenges single retirees will face.
If you have any further questions about this video's topic or any financial planning questions in general, I encourage you to find a certified financial planner in your area or book a consultation with us to get your retirement plan on track.  You can learn more about our services at www.parallelwealth.com/planning
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OUTLINE
0:00 - Intro
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9:53 - 11
11:11 - 12
12:45 - 13
13:44 - 14
14:52 - 15
15:36 - 16
17:15 - 17
18:02 - Financial Plan Example
This presentation is intended for information purposes only and does not constitute an offer to buy or sell our products or services nor is it intended as investment and/or financial advice on any subject matter. Every effort has been made to ensure the accuracy of its contents. Certain of the statements made may contain forward-looking statements, which involve known and unknown risk, uncertainties and other factors which may cause the actual results, performance or achievements of the Company, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Returns are not guaranteed and past performance may not be repeated.
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DISCLAIMER: The videos and opinions on this channel are for informational and educational purposes only and do not constitute investment advice. Adam Bornn is not registered to provide investment advice and as such does not provide recommendations - those looking for investment advice should seek out a registered professional. Adam is not responsible for investment actions taken by viewers and his content should not be used as a basis for investment trades.

[@Jacquie_Kirk_111]

Why do couples get the financial advantage? This is discrimination against being single, it's so frustrating.

[@blackgrandpa7652]

😂😂😂

[@dianetownsend9813]

Maybe we need to lobby gov't on this issue. I called CPP on this and didn't get any help. Sister in law told me to get married lol

[@dartfluke]

Couples have an advantage? They are welcome to it. I am happy.

[@Ian-of9oi]

I’m going to sound like a jerk here but most of the guys I know have wives that make next to no money. Yes that can help you tax wise but they need to support 2 people on one working pension. My retirement is going to be well funded because I am single.

[@tdgdbs1]

All guys I know with wives who stay around earn very little or none at all. @@Ian-of9oi

[@ramspace]

May I suggest 3 more: Stay fit and health conscious, Keep up your physical and social hygiene, and finally be aware that with age the mind crystallizes so keep it open, flexible, and filled with loving kindness. Great video as I'm in that 33% group.

[@M_SC]

You’re on for a big fall and shock

[@waffles1ca]

Very well said, the power of positive thinking.

[@debbielockhart7762]

​​@@M_SCHuh? Don't be a jerk.

[@xo7454]

I am financially stronger as a single person.... thank you very much!

[@debbielockhart7762]

That is not typical at all. I was far better off (financially) with my former partner. Together we made well over $200k, but I only make $83k alone. I can't afford to buy a house, etc. Most couples these days have 2 income earners - there is a lot of power in that.

[@megand888]

If you are a planner, saver and financially savvy you can absolutely be better off single - but for many we have twice the income when we’re married or coupled up

[@johnnyboyvan]

Thanks 😊 Adam for caring about us single souls. Your explanations and example were exemplary. 😊

[@stevenharris6626]

Great video! I am 65, single (divorced) and I have a seizure disorder. A few good ideas I gained from this video......first, I am going to get a device to wear to get help etc. Second, I will get someone to check on me every day. I have a decent financial plan, but money doesn't get you the social network you need. And finally, I'm going to get a dog!!! Thanks!!

[@megand888]

Oh dogs are the best ❤

[@daviddean6032]

Adam, in a word and as a single guy, my rating for this video: Exceptional!

[@shannonr6969]

Thanks so much for this! Please continue to do these ‘single focused’ spots regularly! It is MUCH appreciated!

[@barettmac]

Well done, thanks for pointing out some of the challenges that are unique to single households in retirement planning. I have a few single family members, and I think single with no kids is the most overlooked household type by our tax laws and government programs.

[@vm6824]

Exactly - in fact, we should get better tax breaks for (generally speaking) being less of a drain on the environment and healthcare.

[@dianetownsend9813]

With 40% increase in all cause mortality in the last 2 years I,m taking what I can as soon as I can.

[@maureenhussey7032]

Owing a house or car, travel and pets! Can't afford any of those. Keeping a roof over my head and food on the table, the odd 'liquid refreshments', playing Pickleball, cycling when the Canadian weather permits. That's about it. I am having fun though, being single! Really, less is more! 😛

[@manjitdhillon4368]

I am single female live alone. That is my worse fear what if I die no one will know. Society have no idea how it feels like to be by your self.

[@mationinfo]

No fear. Stay focused. I am a 56 year old widower. Old age doesn’t bother me at all. With a plan in place all is well. There is so much love for all to share no fear.

[@troyboyd3100]

Wow! $70,000/yr pension! What did that person do for a living? I'm glad you're talking about single people. There are a lot of us, and politicians, media, and financial people rarely ever mention us... Thank you!

[@flaviousmaximus3484]

In the public sector, a $70k/year DB pension is not uncommon for someone who puts in 30-35 years of service and has reached mid ranks in a "white-collar" type position.

[@UNCHART3DGAMING]

They worked for government of course - an insulated and fully indexed gold plated pension @ 70% of best 5yrs + health & dental til death all thanks to the taxpyer

[@sjbutler2330]

The majority of us do or did not make that kind of money unfortunately. This is not the Norm!

[@jmack619]

​@@UNCHART3DGAMINGthey should be heavily taxed! After all, they ARE taxes ! Every penny they "earn".

[@evakatrinaa]

*Travel solo*. Serial solo traveller here. Don't hesitate to go on whatever holiday you can afford. In times when you can't go anywhere, you will treasure those experiences and photos and memories.

[@lostboi3974]

Yep! I'm 1 month into a 3 month travel abroad vacation. Everyone is jealous 😂 Not really, they are happy for me.

[@notw333]

I'm opposite. I'd rather have the money in the bank for local things to do. I don't need to personally see every corner of this fallen world. Glad I traveled when I was young. Over it now and HAPPY.

[@jovicrazed]

I travel by myself all the time. Otherwise, I'd never leave the province. The POA is the issue I'm having. My family is extremely messed up and I don't trust giving financial authority to anyone.

[@pintsizestories196]

Is there a professional, like a lawyer, that could fulfil that role?

[@martik778]

Your example with a 70k DB pension is not very typical! Almost 40% of seniors get GIS and probably a higher % if single. Poverty among single seniors is a real issue especially widows and single women. Much of the advice here would also apply to a surviving spouse.

[@MegsCarpentry-lovedogs]

It may not be typical but there are enough of us that do fit into his example and need to have his advice and education. He can do a different scenario in another presentation to give a broader take on singles in lower income.

[@TerriWiebe-hq3rz]

Maybe many of the current seniors are eligible for GIS because women likely didn't work outside the home in the 1950s and 60s so no pension. And CPP was only implemented in the late 60s. So their current income is under the amount required. But almost all my friends currently aged 60 - 65 are right over the line for qualifying for GIS. It sucks because I will be making just 2,000 over annually and won't get any GIS

[@martik778]

@@TerriWiebe-hq3rz They have to draw the line somewhere. 21k seems somewhat low depending on your situation. ie: if someone rents they are up the creek. If they own their house with no debts and defer taxes they're laughing. GIS used to be enough even for renters, not any more

[@gerardacronin334]

Thank you for finally shedding some light on the single person! My current conundrum is that having lost two travel years to the pandemic, I want to travel as much as possible while I can, so getting a pet isn’t very practical. I see my pet owning friends who travel having to board their pets often at great expense, and apart from the financial aspect, that doesn’t seem fair on the pets.

[@kevinthailand2567]

Maybe befriend steer dogs and cats for a meal in the places you visit. Their thanks will fill your heart with joy. I have been doing daily all over Asia and the animals all know I am the cookie man 😂

[@billj7460]

That's the hassle, even if you want to go away for a day or two you have to have a plan of what to do with your pet. I live near a pet hotel, the staff wears scrubs and they are always out walking the dogs, so it seems like a well-managed operation. As you said, they charge a lot of money for this service.

[@cotonluv2570]

Yes before I retired I had a senior pup and that was tough, especially as the pup got older and it was difficult to leave him in a boarding situation. I retired recently and I am caregiver for an elderly parent, so travel is on hold for now. But my plan is to spend 2-3 years travelling and then get a puppy , as by then I expect the stress of further travel will make the choice to stay at home with a pet an easy one!

[@DL-bl6qp]

You could also foster or do some foster sitting for people who are fostering but need to be away for a weekend.

[@lizp.9513]

I pet sit for friends so I get the fun and furry love without the commitment. They get great care for their pet, and I get to have a mini vacation at their home with their pet 🤗

[@lostboi3974]

The problem with those "I've fallen and I can't get up" gizmos is that older people won't listen and wear it😢

[@lambertois11]

I am single and I retired 9 years ago. I do not any problems mentionned in this video.

[@marie-christinebouchard9864]

While some of the challenges were fair, I think many of the challenges covered actually apply to couples…..emotional loneliness leading to overspending, lack of financial knowledge, etc….not sure why these were identified as being of most interest to single people…not mentioned, the joy of being single and how much easier it is to make decisions vs trying to reach consensus….just my opinion. Thank you for the generally informative videos.

[@baldwinangel1218]

Missed one! Singles frequently do not have trusted family or friends to act as POA financial. Too much work. Nobody wants the job 😱

[@alexb.1320]

Not to mention, even if we have a trusted friend, our friends are around the same age and may not even be able to act as POA due to their own health having turned.

[@L.Fontein7]

Here, here. 🙄

[@billj7460]

I'm from the states, but the general concept still applies to me. I'm now age 60 and when I was younger I never expected to be a single man at this point in life, but I am. You're right almost all of the advice you find on the internet is geared toward couples. Rule #17 (get at pet) is a good idea if you're not going to travel. However, pet hotels are just too expensive, in my opinion. I'm not sure what to think about the 70K CAD pension, if ppl have that going on, then there's nothing to worry about. I've noticed a lot of Canadians in Mexico, when I have visited there. Thanks for sharing the video with us. 👍

[@kevinthailand2567]

I retired fully at 55. I just applied for CPP to begin next year because with 5 years of zero income to 60 and maybe 65 my CPP benefits would decline from 60-65. Singles really are hard pressed. I wish you had a plan price for simple singles like myself with all cash and only CPP OAS to come. Paying as a couple with alot more variables and planning needed irks me as a single. Hope you can remedy for we singles 😊

[@danag812]

I agree with you. I found the pricing for the singles plan to be quite high versus the couples one ($3500 vs $4000). I left a comment to this effect. Hopefully they will listen to us lowly singles 😂😂

[@DC-vw7yf]

Finally something geared to single older Canadians! Thank you!

[@exposingproxystalkingorgan4164]

More global people are trending towards singleness due modern relationships being non ideal problems. This video content is great. Another financial channel said taking early CCP at 60 will permanently lower monthly CPP payments by about 50% whereas delaying CPP to 70 would double monthly CPP payments permantly. That is getting $600-800 compared to getting $1600/month.

[@joycegonzales4994]

We’re a retired couple, but you never know when you could become single, so it’s good to know what could happen.

[@cjyou5606]

Having a pet should have been #1 imho.🙂

[@adu2526]

Singles are in less favour in Canada, especially women: more tax, less care, more headaches with anything.

[@blackwatch7151]

Couples can split income to reduce taxes but you have a second person spending 50% of the money when they don't make 50% of the money. Singles have 100% control over their spending.

[@pintsizestories196]

I totally agree with the personal alarm system. My elderly mother, who lived alone, had one and the company was fantastic. Once someone was trying to break into her house but hearing the voice on her machine scared them away. The second time she had a fall and they called emergency services. Well worth the cost. I didn't live nearby but they would always call me to give me if the button was activated.

[@rb239rtr]

Great video Re CPP: "...if you die early, that worked out well" You certainly have to be sober when making decisions in old age.

[@anniesshenanigans3815]

But as a single person, despite my prior comment, we have to face retirement in a very different mindset!!

[@imtherapycat]

Clearly this video is for people who have significant financial knowledge as you're using acronyms that are unknown to some of us.

[@bostonandtheburbsrealestate]

Agreed. I hate acronyms! Lol

[@GrandpaD-mb2lm]

What does lol stand for again? 😂

[@lw1405]

What acronyms are you talking about?

[@bostonandtheburbsrealestate]

All of them! The first 5 minutes of your video

[@EvaMariposa]

Just google all the terms/acronyms you're not familiar with. No better way to learn, than to do your own research & learning process.

[@jo-anne5123]

Thanks for all the good points, Adam. I hope your grandmother is recovering well.

[@neolithic3]

Fantastic video, Adam. Thanks so much for covering this important topic that is relevant to so many of us!

[@lyndagabriel6539]

Re emotional loneliness, that's a good point re spending, but I don't actually think the single are lonelier in general... the loneliest I've ever been in my life was when in a marriage that had died... and unfortunately, I think many stay in lonely relationships for financial reasons. And being single means there are no relationship-based restrictions (including sharing your time) to what you can get involved in.

[@daviddean6032]

Thank you Adam!

[@denisee9539]

Thank you for recognizing the single ladies.

[@KM-sr9cc]

Thanks for the Great video, all in detail. I have to watch the entire video TWICE to get to the details.

[@maryjoan4128]

Finally someone talking about singles, Thank you! HOW DO WE FIGHT THE UNFAIR TAX SYSTEMS FOR SINGLES

[@joevenuto587]

Love the hands on, "what if" scenarios done out loud with narration while we watching the numbers change in real time. Professor Adam in the house !!!

[@Jennapeters144]

I’d be retiring or working less in 5 years, and considering this financial recession, I’m curious to know best how people split their pay, how much of it goes into savings, spendings or investments, I earn around $250K per year but nothing to show for it yet.

[@Muller_Andr]

Do you have a 401k? you should contribute to your retirement diligently, or better still look into financial planning

[@xavier_lucas]

Very true, I find myself lucky enough exposed to money management at an early age. Worked full time when I was 19, purchased first home at 28, fast forward time... I'm 50 now, got laid off March 2020 amidst lockdown, a blessing in disguise. At once, I consulted an advisor to stay afloat and with subsequent investments, I'm only 15% short of $1m as of today.

[@AnkurYo]

this is huge! would love to grow my reserve regardless of the economy situation, my 401k has lost everything accrued since early 2019, at this point, i'm in need of guidance, can you point me?

[@xavier_lucas]

I’ve shuffled through a few experts in the past, but settled with ‘LOREN LENA WALKER’. The strategy they use is recession-proof, more specifically profit-oriented, and most likely, you'd find her basic info on the net, she's a renowned advisor.

[@AnkurYo]

thanks for info! curiously copied and pasted her full name on my browser, spotted her page easily, she actually looks very distinguished

[@MegsCarpentry-lovedogs]

This was a on point presentation and quite relevant....to those of us who are single. Well done Adam. To look at your program and switching things around to see the taxation results was appreciated. I will take a deeper dive at your program section in this presentation. Thank you for taking quite a bit of thought and time to put this comprehensive package together. 🙏 Add on that Prince Edward Island is in the top two highest taxed province in Canada....and...well...planning is important. 👍

[@Joeyaway]

Thank you 👍

[@vm6824]

Sure it's more expensive (for some things) retiring single, but no drama from someone pays massive dividends for your mental health in retirement. BUT yes, you need to be very diligent and creative with your fiscal plan. I hope to retire early (and on purpose- happily single) and all my choices, decisions will not require anyone else's approval. The freedom will be incredible! The points about long term care, someone 'looking in' on you, personal alarm etc... is the same for everyone - single or not. There will never be a guarantee your partner will notice or even be able to help you when you need it. The take away here is that EVERYONE needs to be responsible for their retirement plan and be proactive. I really appreciate a video for us singles. Long overdue.

[@katdesantis8867]

Very true what you say, most married couples I know lead very separate lives, and would not notice too much of an absence. Also one or the other could be disabled and of no assistance, I've seen that !

[@Coyotehello]

Thx Adam, great video. I'm not single and we certainly won't have anything like Ms. KZbin revenues, but I still found some interesting nuggets of information. 🙂

[@somai_1]

Why do all financial advisors only give examples of people with pension or just couples. It's disheartening for the majority of us who dont have such a plan.

[@Erginartesia]

THANK YOU! You are the first person promoting smart watches for seniors. Seniors .. especially singles … need help setting up their watch. Yes, your grandma’s watch probably would have detected that she fell. The person who checks in should call them and practice making calls from your watch .. heart rate checks … GREAT VIDEO! I don’t hand out these kudos often. Reall excellent.

[@jakeleak]

Great video, would have liked a version without the large pension though. Personally do not know anyone except government employees that will have something like that.

[@TerriWiebe-hq3rz]

I am a ex government employee but since a third of Alberta municipalities do not have a pension plan, we are like non government people. Many of my friends will be retiring in the next few years with only CPP and OAS and no RRSPs or pension.

[@jakeleak]

@@TerriWiebe-hq3rz Thanks Terri, good to know

[@sjbutler2330]

I certainly hope they have TFSA s then!!

[@bgood5907]

As always, a very informative video. But as some mentioned, not many of us have a defined pension. And as for myself being a widower receiving a survivors pension, i have not seen any videos with that particular issue and how it affects the timing of taking your cpp.

[@user-dq4ri6fi7b]

The personal alarm is not a new technology, my mother had one 20 years ago. So important to have something like that just in case of a fall.

[@user-ke8ke9qh7w]

Love the go go phrase

[@user-lh4ve6fz9h]

Thanks for the info... lots and lots and lots of comparing single to couple retirement... any chance of a "single person" only video..?

[@lumberdog198]

I have to correct you Adam. You said make sure you have power of attorney set up long before something happens that you that you can not make your own decisions. I think you ment enduring power of attorney or continuing power of attorney as power of attorney ends as soon as someone becomes incapacitated

[@margaretfrise8047]

very interesting

[@hongthuypham9955]

Thanks 👍👍❤️❤️from Toronto.

[@ParallelWealth]

Our pleasure!

[@sandybushfield5533]

At age 60, I took my first trip overseas, I was solo and had a limited budget so I rode trains and buses and stayed in hostels. It was an incredible and empowering experience. I came back and worked until I could afford my next trip and then another after that. If you have a desire to see the world, do it. Staying in shared accommodations like hostels or home stays is the best way to meet wonderful people and not feel alone. Don’t wait until your health declines or travel medical insurance gets to costly. I think it’s easier to meet others as a solo traveler than as a couple. And if you want to cruise, NCL has a solo meetup every night on most ships so you can have dinner with other solos. It’s challenging at first to step out as a solo traveler, but the rewards will out way staying lonely at home.

[@danag812]

I love solo travel. I've done so many trips solo and have met great people along the way. Sometimes, as a woman, I am a bit limited due to safety concerns, but there is still a lot to see even if I don't go to, say, Colombia. Nowadays I don't even try to find a travel buddy as I figure they'll cramp my style LOL.

[@trainsbuseshostels]

@@danag812Hahaha, totally agree!

[@6CAT736]

i am single and will make $13000 per year income after 65 and dont see how it would be a challenge to get gis unless there is something i dont know?

[@elenak4663]

The most important is your health!!!

[@alexispacey2864]

Do you offer private consultations at all? This seems very thorough.

[@lynnemenard5910]

Adam, i am giving you 2 thumbs up here 👍🏻👍🏻 to show just how much i 'Like' this video (all your videos, really!). It hit so cllose to home. I am on my way to my 57th b/day 😁 and planning on retiring in 2032 (sooner if i can help it…I'm a late bloomer to the workforce after raising my family for the better part of a decade). TY for putting out the gamut of informative videos. They don't all apply to me, but i have family, i have friends 😅 Much love from the Nation's Capital❤

[@ParallelWealth]

Thanks for the comment and glad to hear the videos are helping. All the best and thanks for watching.

[@sjbutler2330]

Just sayin, a lot of people in their 70s have health problems and or disabilities and are single and physically are unable to downsize on their own. Most of our friends are our age and unable to help us move and our family members live in other cities or are older than me. Its a dilemma what to do???

[@albertmarnell9976]

I'm 69, single, have not had family since I was 44 years old and long ago downsized by age 42. Renting rooms to strangers is hell. It rarely works. No one gives an F-about me or you. People don't care about one another unless they get something from them. I have friends, mostly single guys, one female and two married couples. They don't live near and the ones that do are too old themselves and are struggling themselves. The ones in a bubble "the married ones" see me as an intelligent threat, the wives particularly. The women often ask, "What did he say?" They are scared of truth. The social dynamics we all face are so individual and no one is the same as the other.

[@snoopybluejeans]

Bloody happy I just got a huge inheritance. I'll be fine... flying solo.

[@danag812]

Nice! Congratulations 🎉

[@notw333]

I am ALREADY planning my retirement house. 55+ area and I plan on keeping my current prop until the next market frenzy. Housing? WILL NEVER get cheaper. Im not waiting.

[@troyboyd3100]

I just bought a used Honda Civic. It was $40,000 after taxes and registration (in Canada). The example you used of a $25,000 replacement vehicle would be quite old, and well-used.

[@ParallelWealth]

Including trade in value for what they currently have

[@lmor7110]

$10,000+ would get a nice used vehicle on the Prairies that would last for 10 yrs if you drive it gently. Many seniors drive less & less as they get older, and struggle to keep a vehicle going during extreme winter weather. Then they move into a senior facility & don’t need a vehicle anymore.

[@giffordkrivak859]

Can you give the full names for the acronyms?

[@martharamos8833]

Hello Thank you for this wonderful information I have a question I was in Ontario on 2022 I move to Quebec I purchase a home I am disability retair I didn't fill my income tax on 2023 is any penalty for that how can I contact you for advice please I need help I really appreciated your advice Thank you very much Martha

[@lumberdog198]

Ya its better to retire as a couple until the other half decides that it is not. "I like the line If I die early it worked out well". LOL only in Canada.

[@lyndagabriel6539]

Thanks for this! I was actually told, back when I was too shy to retort, that I (no kids) was a burden on the system. This while I spent my whole working life paying substantial school taxes that benefited the kids of the speaker. Gah.

[@rbenjamin1429]

WOW 😳😩

[@danag812]

Thank you for your informative videos. I really enjoy your content and checked out your website to see if I might be able to afford direct planning with you. I am single. As you know, that means I only bring one income into the house and pay for everything. Its definitely more challenging and my options are more limited. I have often been very frustrated with the disadvantages that singles face when it comes to a lot of things... And, I hate to say this, but I was also quite frustrated when I saw that your individual planning packages for singles cost $3500 whereas those for "a household" cost $4000. Once again I was left feeling like I'd gotten the short end of the stick. When a houshold has two incomes... clearly the $4000 works out to $2000 each. As a single I get to pay a "supplement" on that of $1500 (for a total of $3500). I'm sure there are reasons for this very minor difference in price but its not a good look. Anyway, thanks for your content. I really do enjoy it and have learned a few things for sure.

[@ParallelWealth]

We base the prices on time to build a plan. And adding a spouse or partner adds time, but far from doubles the process.

[@L.Fontein7]

Look on the bright side - At least you found out he's a crook before you signed on with him. Best of luck to you.

[@danag812]

@@L.Fontein7 lol...

[@larryabela4095]

@@L.Fontein7He’s a crook? You are the reason i stay scrupulously honest. You might be on my jury….

[@josephjuno9555]

I am single male in US but much of this still applies just with other letters like IRA or RSP?

[@stanmclean6218]

Thanks for the information. I would encourage you to get a pet along with your children. My childhood pets are cherished memories. Every family, especially with kids... Needs a couple of pets. Childhood is also the best time to learn/teach how to care for a pet. 😎🙏

[@ParallelWealth]

I grew up with a dog. I'll stick to the 4 kiddos for now

[@human1513]

Good info. This is for people without a lot of money.

[@ann6794]

if you collect 70000 in pension you don't him for advice....where is advice for people making 10000?

[@timothyirwin8974]

I am a single guy at 70 years old. I still work 100 hours a month and plan to do so as long as possible. After I put my RSP into a RIF next year what vehicle do I have to reduce my taxable income after the RSP is converted?

[@ParallelWealth]

Not a whole lot to be honest. You get some decent age and pension credits at your age that would help a bit.

[@Jacquie_Kirk_111]

If WIDOWED it probably won't make sense to delay CPP. Make sure you check the math....

[@jimkwan1807]

We can also list 17 benefits retire single.

[@somai_1]

I don't think there are any advantages

[@jimwu8532]

​@@somai_1no nagging spouse!!!

[@evakatrinaa]

1. There is no negotiation with another person on when you will retire. 2. It's your money, you control it. 3. You won't end up as someone's caregiver (and all love and strength to the world's caregivers) 4. Travel where you want to travel. 5. Get the urge to get up in the middle of the night to make pancakes and watch movies? Go ahead and enjoy! 6. Your living arrangements as you age will be tailored to your specific preferences and needs. 7. Your positive energy shines unclouded within your own four walls. 8. Having a day when you don't feel like doing anything? Then don't do anything! Be gross and stay in your pyjamas for a day. It'll be great. Tomorrow you'll have a lot more energy to clean up and go out and have maximum fun.

[@jimkwan1807]

Totally agree!. Freedom that comes with being retired single. Single tends to make more friends than couple who tend to stay in their own nest. I found it so true when solo traveling. If you are a couple, stay as a couple and enjoy one another, but if you are single, enjoy all the benefits that come with retiring single.

[@lindalee8937]

What category do I fall in (My brother and mom live with me "all my life") am I still consider to be single.

[@ParallelWealth]

Yes

[@elenasanchez2156]

How about you explain the letters.. RSP… CCP etc

[@funky_gold_medusa]

Ball pythons make great pets!!!! Plus they aren’t big mess makers, wallet drains and are low maintenance, compared to furry pets.

[@silverpod]

What country is this for? He sounds like he knows what he’s talking about but I don’t recognize any of the acronyms he’s using.

[@ParallelWealth]

Canada

[@AB-wf6hl]

why do you always assume folks have a house ... you know some people have rented all their lives ... how does that effect retirement planning ??? thx.

[@debnn4854]

Lost mine thru theft

[@vm6824]

Run the numbers....index average rental cost for inflation (2-3%) and see where the numbers lead you. Anyone can make their own basic retirement plan just using excel spreadsheets and google. In the end your plan is your responsibility. Educate yourself. All the info is out there.

[@nata3467]

Married or not, each individual should be treated the same regarding taxes, SSI etc. It is ridiculous that you get all these perks for being married- especially since we are more and more seeing people remain single.

[@lilys4960]

too many acronyms used in the last part of the talk

[@manjitdhillon4368]

No pet for me I cannot take care of pets

[@setghanbingfest4988]

Thank you so much for this information!

[@ParallelWealth]

You are so welcome!

[@diggler64]

I'm single retired but now I need a low income wife 😂

[@7of9]

Robots will support us eventually.

[@jaxj3626]

1.7 million to retire. Id like to know the number of people that have that.

[@michaelfoort2592]

Grouping together has always been a good strategy for low income people

[@trishbeckett1859]

Canadians don't talk about end of life very well. I see it every day in healthcare and they should have these hard conversations about life and death the same as your financial planning

[@ParallelWealth]

💯 agree

[@MrTeapots]

"If they die early it worked out well.." :)

[@cirodirosa6752]

Adam, Single person labeling does not apply to me. I identify as a 'Couple' 😊

[@lisabarnetson1362]

Lol.

[@clognever]

Too fast and too many ccp and osp..... letters

[@laurelharris7244]

Agreed. Took a while to realize I didn’t know the acronyms bc he’s Canadian. A list of acronyms would have added much value. Only defined one.

[@alexispacey2864]

I guess I better find a partner.... geez.

[@judyconte6566]

What the h*** is an RSP,CCP,OSP ? Would you like to break it down for us people that don't know. ????

[@mikebarnes2294]

Canadian retirement programs RRSP - Registered Retirement Savings Plan CPP - Canada Pension Plan OAS - Old Age Security

[@vm6824]

If you don’t know these terms you shouldn’t even bother watching this channel honey. Use this thing called “google” and educate yourself. Geez!

[@lanalivingstone9847]

What if pets are not allowed in the place

[@user-gr6rn3un8y]

Moved!!!

[@lmor7110]

Find a cat cafe if available in your area & spend a day without cleaning up kitty litter & cat hair! Or offer to help walk a dog, especially if the owner is recovering from surgery

[@jimhiebert650]

hey this is not rocket science , you don,t need to make a mountaian out of it

[@waffles1ca]

Senior and single often = poverty. Nothing new about this, for decades we have tolerated widowed seniors living in poverty, seniors low income housing is and has been hard to find for 30 years.

[@kmilton1593]

Unlike the union-blackmail school-teacher (or gov't worker) in your example that gets a massive $70,000 pension per year for doing nothing for the rest of their life, I am a small farmer (my cows paid me no pension). Going on 76 years old, my $9,000 total RRSP savings have converted to a RIFF so i pay taxes on the $1,400 income for only a few more years, then that is it. No more personal pension income. So i still work full time to get by. No written will yet. Don't trust lawyers, so no power of attorney yet. The CPP and Old Age are very low (about a quarter of my monthly needs). No brothers or sisters, no nieces or nephews, no kids or grandchildren. So when i die, the manure will hit the fan! My last holiday was Sept of 1985, but am too old to travel now. Your planning for rich people looked pretty good.

[@Manc-fh5we]

Apple Watch has fall\car crash alert built in now.

[@HollyMurphy3]

I’m 46 and thinking ill probably never get married at this point. Thinking of buying a golden girls house and finding a few good single women to roommate with. I wonder if it could work. I would even be willing to do it now with some older widows. As they leave, I’ll move in new ones. But I realize it’s hard for people to live together if they aren’t family.

[@kimberlypecena6816]

Senior women living together is a great group on fb and people can find each other however I would find it difficult. Maybe just with one other person it's doable.

[@HollyMurphy3]

@@kimberlypecena6816 yeah I’m thinking golden girls, but maybe that’s just in the movies. 😂

[@lisabarnetson1362]

I think it's a great idea. I've had the same idea. Wanted to find a house to renovate so each boarder has their own ensuite. Shared kitchen and living spaces. A friend's brother managed a rooming house. I thought it was a great idea.