Well since last week’s posting, Mr. Flaherty’s “chosen path” on Canada’s OAS reform may not be totally clear – but the rant is afire! As I said before, with the aging demographics in Canada being what they are, something will have to give as we all go about financing longevity over the next decade or two. Sooner or later, if it wasn’t the Conservative government it would be another that would have to make the choices.
What is old age? It sure doesn’t feel like 65 or 67 even makes that definition any more. As my father used to say; “it’s not your age that defines you, it’s the condition you’re in.” And that’s your health or your wealth or a combination of both that needs to be considered. I’m not even so sure that increasing old age security goalpost to 70 would be such a tough thing as long as we have empathy for considering those whose overall condition makes it hard make ends meet.
Let the media and political banter continue and wait to see what Flaherty’s chosen path really looks like when the Federal budget is presented, and let’s see how the numbers crunch. Boomers have come along as a generation with a certain entitlement mentality that we peg our life decisions on the financial expectations of a “retirement plan”. There are worse fates than an adjustment to OAS eligibility.
Let’s focus more on engaging in later life and a lot less on retiring. Old age will come.