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Old 01-14-2014, 07:41 AM   #21
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I do see many older people working retail and odd job/yardwork around me. Some look tired and others look like they are enjoying it. To each his/her own.
I see that too. Most seem to be happy with who they are and while some may be working because they need the income I suspect most just want something to keep busy with.

Our original retirement plan did include getting part time jobs, not for the income but for just getting out, but then we found that in WV they don't pay enough to make it worthwhile.
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About 30% of retired Canadians returned to work to pay bills, says ING survey...
Old 01-14-2014, 08:14 AM   #22
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About 30% of retired Canadians returned to work to pay bills, says ING survey...

I do think a lot of people were involuntarily retired in the US and perhaps also in Canada in the past five or six years, either in a RIF or because their companies went under, and were not financially ready to be RE'd (and did not consider themselves to be retired, but rather laid off). DH has former colleagues in this category. They might have been looking for work ever since, and would probably be thrilled to find anything at all close to what they had been earning.

The Canadian dollar is also not as robust now vs other currencies as it has been, but I am not sure how much that might affect the pocketbooks of most retired Canadians.
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Old 01-14-2014, 09:07 AM   #23
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Median income of seniors in Canada in 2011 was ~$29,000/year, so not too shabby (if your house is paid off). In constant dollars, the figure was $34,000 for 1976. Ouch.
Financial Security - Retirement Income / Indicators of Well-being in Canada

The thing I found interesting was how much employment income has decreased for seniors from 1976 ($14,700) to 2011 ($2,600). So a lot less seniors must be having to work than in the past.

Average elderly family income after tax in 2011 was $57,700 but IIRC, the lowest quintile is somewhere around $20k/year. Average income after tax by economic family types (2007 to 2011)

I had read a statscan survey that in 2005, the median NW (included principal residence and NPV of pensions) for 65+ (individuals not couples) was ~$303k. Considering the average house price in Canada is currently $391k, that's not a lot of capital outside of housing.

I see very few seniors working where I live in Canada outside of the very helpful and knowledgeable guys at Home Depot and VP's that don't know when to quit. Although I'm not really sure if those guys are 65+ or just look like they are.
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Old 01-14-2014, 09:21 AM   #24
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Chuckanut, Do you live in Whatcom county or does every highway down have a Walmart, Costco and Trader Joe?
Hey, I just believe what's in the news.

https://encrypted.google.com/#q=cana...tco+bellingham

Americans Fed Up With Canadians Taking Over Local Costco - ABC News

Bag It, Trader Joe's Tells 'Pirate' Grocer In Canada : The Two-Way : NPR
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Old 01-14-2014, 09:51 AM   #25
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Cross border shopping just got a whole lot less attractive now that the Canadian dollar has dropped.
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Old 01-14-2014, 10:02 AM   #26
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Wow, that's interesting.

Given the demand for resold Trader Joe's products, I wonder how this could escape the attention of entrepreneurs, both American and Canadian, who could set up a Canadian Trader Joe's look-alike to serve the market.

Here, where I live, within 3 miles from home, I have Costco, Trader Joe's, Sprouts, Fresh n' Easy, Whole Foods, as well as the chains like Safeway, Fry's, Bashas, Walmart, Alberson. They are killing each other with sales to lure in customers.
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Old 01-14-2014, 10:12 AM   #27
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From the NPR article:

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Originally called Pirate Joe's, Hallatt's store serves a niche market: Canadians who wish Trader Joe's was in their country and who will pay a bit extra for triple ginger snaps and fanciful trail mixes.
The triple ginger snaps -- unbelievably good.
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Old 01-14-2014, 10:25 AM   #28
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Actually, I've been told that the Canadian shoppers pay for things that Bellingham size towns rarely enjoy such as their bus system. So I've never minded the traffic coming down.
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Old 01-14-2014, 10:33 AM   #29
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Wow, that's interesting.

Given the demand for resold Trader Joe's products, I wonder how this could escape the attention of entrepreneurs, both American and Canadian, who could set up a Canadian Trader Joe's look-alike to serve the market.
I thought about this some more.

If "irate Joe's" can make a profit driving down to the US to buy retail items to resell north of the border, then the retail prices of goods up in Canada must be a lot higher than in the US, due to taxes, labor costs, etc... A legitimate store may have to sell at higher prices than "irate Joe's", and would not do well.

PS. We have been to Canada many times over the years, and saw that prices were generally higher. However, as tourists, we did not really pay attention to overall prices of staples and grocery items.
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Old 01-14-2014, 11:52 AM   #30
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I used to love working. I loved my job and my coworkers. Now retired 11 years, I could not go back on a bet. I have discovered that I loved working when it was a necessary way of life. But I like not working a lot more.

I think I would downsize my life a long way before having to earn money again.
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Old 01-14-2014, 12:05 PM   #31
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A few people in my family returned to work after retiring. My aunt and uncle, for example, spent too much of their nest egg on travel in their early retirement years. I don't think they have any regrets about it, but they now work part time because their SS and pensions are inadequate to continue funding their travels. My mom also went back to work part time after retiring, both to keep busy and to make some extra dough to supplement her small SS and pension. She lost that part time job last year and is now looking into other employment opportunities. MIL also went back to work part time, after getting divorced and discovering that her retirement income would be much smaller than anticipated, after her ex stopped paying alimony.
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Old 01-14-2014, 12:30 PM   #32
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Of course I do not want to see my financial situation deteriorating to the point that I need to go back to work, but if I have to go back to do what I was doing, it was not the end of the world. It was enjoyable, and paid very well.

I think I can get to do the same work again, if I want to. Technology changes rapidly, but math is never outdated. New high-tech workers tend to want to do pure software because it brings immediate results. Just compile, run it to see the results. Rinse and repeat. Instant gratification. That's not the work that I do, and I cannot compete with youngsters on that. When it comes to laboring for hours over complex equations that span half a page trying to model or analyze a complex electromechanical system, these young workers would not even know where to start. The people who were doing the more analytical work are dying off, at least in the industry I was in.
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Old 01-14-2014, 12:31 PM   #33
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My aunt and uncle, for example, spent too much of their nest egg on travel in their early retirement years.
That could be me, too. I have plans to travel and splurge in the 1st few years of RE. This is why I am delaying my RE by two years. I'd like to pad my travel budget so that I won't ever have to come back to work.
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Old 01-14-2014, 01:09 PM   #34
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Wow. You guys hated your job that much? While my job has a good amount of stress I actually very much enjoy it and enjoy the people I work with. Of course one will ask the question why I am thinking about retiring early? The reason is I am also very lazy and I enjoy doing nothing than going to work, even if it is work I enjoy. After I retire still hope to maintain the personal relationships I have at the workplace.
I like my job. It's my crazy boss that drives everyone miserable. But I still won't come back to work. My remaining life in RE will be too short to waste my time at working.
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Old 01-14-2014, 03:20 PM   #35
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I am one of the seventy percent. Retired three years with no intention of going back to work. Too busy doing what I want to do....including lots of travel.

Like others, I was always fortunate to have challenging positions that I enjoyed and great co-workers.

What we really noticed on our last few trips to Florida, Arizona, and Texas was how many older people were working at fast food places, Wal-Marts, Targets, etc. It was much more noticeable than it was a few years ago.
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Old 01-14-2014, 04:22 PM   #36
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What we really noticed on our last few trips to Florida, Arizona, and Texas was how many older people were working at fast food places, Wal-Marts, Targets, etc. It was much more noticeable than it was a few years ago.
I surely hope they are doing it for fun, to kill time, or for any other constructive reason than because they don't have $$$ to stay in retirement. That'd be sad. 20 year McDonald manager yelling at a 70 year old poor guy to flip it faster ...
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Old 01-14-2014, 05:42 PM   #37
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I surely hope they are doing it for fun, to kill time, or for any other constructive reason than because they don't have $$$ to stay in retirement.
They are padding their resumés so they can get jobs in Heaven. No more free rides on the other side!

Ha
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Old 01-14-2014, 10:40 PM   #38
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Not many of the seniors that we saw working in these establishments looked like they were having fun. There was absolutely no enjoyment in the eyes of most them...that we could see. Needs must I guess
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