Saturday, March 17, 2007
Reduce Not Recycle
Wink: If the shoe fits, get another one just like it.
I am often asked, "How's retirement going?". Well it gets worse every day. I can see that section of the web site expanding soon.
I actually had two careers in my lifetime, average jobs that didn't make me rich. But they were jobs that allowed me to prepare for where I am now. Or so I thought.
That is why I say the retirement section of the web site will soon be expanding. Don't plan on getting what you think you will because you won't. Financial planning goes out the window because of our government policy.
First my military pension was cut by several hundred dollars because of a clawback clause. The clawback clause kicks in when you reach the magic 65. The reason given is that you get the old age pension and Canada pension.
But hold on, you don't get anywhere near the full pension because you supposedly make too much because you get a military pension. Then Friday, I get a letter saying the Old Age Pension is being cut again by $59. because my income is still too high.
Here is where it gets better. "Your 2005 income tax figures were used for this compilation." Huh?
I retired at the first of 2007, didn't get OAS & CP as they call it until end of Feb. 2007. My income is certainly nowhere near the 2005 figure.
After paying all premiums for years at the very highest rate, plus the military pension is mostly my contributions, and not drawing any kind of benefits ever, I am starting to realize why people on fixed incomes have such a hard time.
Speaking of time, I have lots of that now, for phone calls, visits and writing. Wonder what a full time pest career is like. I'll let you know.
This weeks news - $20,000. per year for an apartment if you live outside the city, no receipts required. $13,000. per year for travel and postage expense, no receipts required. $8,000. for a leased vehicle. Hmmm > I can see through a ladder.
This work by NSCAVE is licensed under a Creative Commons Attribution-NoDerivs 3.0 Unported License
I am often asked, "How's retirement going?". Well it gets worse every day. I can see that section of the web site expanding soon.
I actually had two careers in my lifetime, average jobs that didn't make me rich. But they were jobs that allowed me to prepare for where I am now. Or so I thought.
That is why I say the retirement section of the web site will soon be expanding. Don't plan on getting what you think you will because you won't. Financial planning goes out the window because of our government policy.
First my military pension was cut by several hundred dollars because of a clawback clause. The clawback clause kicks in when you reach the magic 65. The reason given is that you get the old age pension and Canada pension.
But hold on, you don't get anywhere near the full pension because you supposedly make too much because you get a military pension. Then Friday, I get a letter saying the Old Age Pension is being cut again by $59. because my income is still too high.
Here is where it gets better. "Your 2005 income tax figures were used for this compilation." Huh?
I retired at the first of 2007, didn't get OAS & CP as they call it until end of Feb. 2007. My income is certainly nowhere near the 2005 figure.
After paying all premiums for years at the very highest rate, plus the military pension is mostly my contributions, and not drawing any kind of benefits ever, I am starting to realize why people on fixed incomes have such a hard time.
Speaking of time, I have lots of that now, for phone calls, visits and writing. Wonder what a full time pest career is like. I'll let you know.
This weeks news - $20,000. per year for an apartment if you live outside the city, no receipts required. $13,000. per year for travel and postage expense, no receipts required. $8,000. for a leased vehicle. Hmmm > I can see through a ladder.
Labels: clawback, old age, pension, retirement
This work by NSCAVE is licensed under a Creative Commons Attribution-NoDerivs 3.0 Unported License
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