Boomer women are about to pass yet another milestone -- RETIREMENT! The first wave of women to enter the workforce in significant numbers benefited from the feminist revolution and fought for a place in the world of work. Now these women are leading the rush for the exits. As they near retirement age, they're wondering what was gained, what was lost, and what comes next. They're stepping out into trackless territory. This is not the end of a productive life. It can be an exciting gateway into a future that is ...
Boomer women are about to pass yet another milestone -- RETIREMENT! The first wave of women to enter the workforce in significant numbers benefited from the feminist revolution and fought for a place in the world of work. Now these women are leading the rush for the exits. As they near retirement age, they're wondering what was gained, what was lost, and what comes next. They're stepping out into trackless territory. This is not the end of a productive life. It can be an exciting gateway into a future that is challenging and rewarding, always provided that we plan for it. Written by two successful professional women, a lawyer and a psychologist, the book explores the practical, personal and psychological issues surrounding retirement. With clear-eyed vigor and enthusiasm they look at what retirement will mean for women, and offer concrete strategies for gaining control of the retirement process.
Dr. Margret Hovanec is a psychologist in private practice in Toronto. Her long-standing professional interests are in work-life balance, exploring relationship issues, and women in career transition. She is a Founding Fellow of the Academy of Cognitive Therapy. She is married and her retirement is a work in progress.
Elizabeth Shilton has recently retired from one of Canada’s leading labour and employment law firms, where she was a litigator and managing partner for a number of years. She has now returned to law school to pursue doctoral studies in pension policy. She is a member of the Ontario Financial Services Tribunal and lives in Toronto.
Retirement: The Next Frontier for Working Women
The Boomers are Retiring...Including Women! 11
The Old Retirement and the New Retirement 13
The Challenges Posed by the New Retirement 16
Women Have Different Retirement Planning Issues 20
Redefining Retirement 24
Planning for the New Retirement
Identity Crisis 29
Managing Our Anxieties 31
Identifying Our Issues 33
The Four Ingredients of Successful Retirement Planning 34
Searching for the Balance: Economics 101
Fear of Becoming a Bag Lady 37
How Much is Enough? 39
Where Will Your Money Come from?
The Three Streams of Canadian Retirement Income 45
Public Pensions 47
Old Age Security (OAS)
Guaranteed Income Supplement (GIS)
Private Pensions 55
Are You Lucky Enough to Have One?
What Kind of Pension Plan Do You Belong To?
Spousal Private Pensions
Will My Pension Still Be There When I Need It? 60
What are RRSPs and How Do They Work?
How Will I Turn My RRSP into Retirement Income?
Internet Retirment Planning Calculators 68
The Role of the Professional Financial Planner 71
How Much is Enough? 73
Getting a Focus on Current Spending 76
Budgeting for Post-Retirement Living 79
CPP Contributions and El Premiums
Pension and RRSP Contributions
Disability Insurance Premiums
The "Latte Factor"
Your Savings So Far
The Impact of Income Tax
Will Some of My Expenses Go Up?
Your Lifestyle Maintenance Budget
Spending More Sustainably
Budgeting Again! 89
Reducing Expenses 90
The Nickels and Dimes 105
Housing is a Retirement Planning Issue 109
Staying Put-Issues to Consider 111
Cutting Costs in Your Current Home
Generating Income From Your Current Home
Is it Time for a Condo?
The City Mouse and the Country Mouse
Moving to a Foreign Country 119
Living with Your Children 121
Retirement Housing 121
Life Lease Facilities
Long-term Care Facilities
Reclaiming Work in Retirement 127
Know Thyself 131
Seeking a New Balance 134
More Sustainable Jobs
Working More Sustainably 137
Postponing Retirement 139
Finding Another Job 142
Same Career, Different Employer
Launching a New Career
Refurbishing Your Skill Set
Applying for That New Job
Working Your Way Around the World 146
Jobs in Other Countries
Teaching in International Schools
Women Working Abroad
Your Own Boss
Self-Employment: Risks and Rewards 151
Nuts and Bolts of Starting a Small Business 152
Record-Keeping for Tax Purposes
Home Office Expenses
Business Ideas 158
Sources of Business Ideas
The Property Business
Renting Out the Family Assets
Working for Love
"Our Time" 163
Volunteers in Canada
Lifelong Learning 170
Going Back to School
Sports and Athletics
Coming to Terms with Aging 177
Health Issues and Retirement Planning 180
Menopause and Hormonal Change 182
The Chronic Diseases of Aging 183
The Cancers of Aging
Alzheimer's Disease and Other Dementias
That Embarrassing Bladder Problem
Living Longer, Living Better
The Obesity Epidemic
Weight, Dieting, and Metabolism
What's My Healthy Weight?
That Magic 10 Percent!
Healthy Eating 204
Family Relationships and Retirement
Retirement: A New Family Dynamic 215
Communicating with Your Family 217
You and Your Spouse 219
A Good Companion: It's a Partnership
Communication: Negotiating Lifestyle Issues
Who Will Do the Housework When You're Both Retired?
The Really Tough Stuff: Life and Death Decisions
Powers of Attorney
The Role of Spousal Caregiver
Death of a Spouse
You and Your Children: Always a Parent 233
CLIPBs and Boomerang Kids
Money: Communication About Expectations
You and Your Parents: The Sandwich Generation 239
Negotiating Issues of Aging with Our Parents
Dealing With Bereavement
Non-Family Relationships in Retirement
Why Isn't Family Enough? 245
Grieving Our Losses 246
Unmoored From the Workplace
Consolidating Our Gains 249
Relationships Aren't Always Friendships
New Life, New Relationships 251
A Note of Caution
Male Friends and the Single Sixty
Sexy: The New Cultural Stereotype for Older Women
Community in Our Living Arrangments 255
Sharing Spaces: Alternatives to Living Alone
Finding Community: Your New Social Circle
Redefining Retirement: Are We There Yet?
Our Own Retirement Journey 261
So, Are We Retired?
A Question of Identity 263
Further Reading 267
About the Authors 279