Redefining Retirement: New Realities for Boomer Women

by Margret Hovanec, Elizabeth Shilton

Overview

Boomer women are passing 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 retire, they’re wondering what was gained, what was lost, and what comes next. They’re stepping out into trackless territory. This is the book that will show them that retirement 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 Canadian women, and offer concrete strategies for gaining control of the retirement process.

Product Details

ISBN-13:	9781926739588
Publisher:	Second Story Press
Publication date:	01/01/2007
Sold by:	Barnes & Noble
Format:	eBook
Pages:	288
File size:	3 MB

About the Author

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.

Table of Contents

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
CPP/QPP
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
RRSPs     62
What are RRSPs and How Do They Work?
Spousal RRSPs
How Will I Turn My RRSP into Retirement Income?
Annuities
RRIFs
Internet Retirment Planning Calculators     68
The Role of the Professional Financial Planner     71
ProjectingRetirement Expenses
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
Clothing
Transportation
Vacation
Scheduling
The "Latte Factor"
Your Savings So Far
The Impact of Income Tax
Will Some of My Expenses Go Up?
Inflation
Your Lifestyle Maintenance Budget
Spending More Sustainably
Budgeting Again!     89
Reducing Expenses     90
Transportation
Food
Clothing
Furniture
Travel
The Nickels and Dimes     105
Housing
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
Downsizing     117
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
Retirement Communities
Life Lease Facilities
Retirement Homes
Supportive Housing
Long-term Care Facilities
Combination Facilities
Why Work?
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
"Retiree" Jobs
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
Teaching ESL
Women Working Abroad
Your Own Boss
Self-Employment: Risks and Rewards     151
Nuts and Bolts of Starting a Small Business     152
Business Structure
Business Names
GST
Record-Keeping for Tax Purposes
Business Expenses
Home Office Expenses
Income Tax
Business Ideas     158
Sources of Business Ideas
Consulting
The Property Business
Renting Out the Family Assets
Working for Love
"Our Time"     163
Volunteering     165
Volunteers in Canada
Volunteers Abroad
Lifelong Learning     170
Going Back to School
Recreational Travel
Hobbies
Sports and Athletics
Health Matters
Coming to Terms with Aging     177
Health Issues and Retirement Planning     180
Menopause and Hormonal Change     182
The Chronic Diseases of Aging     183
Cardiovascular Disease
Diabetes
The Cancers of Aging
Osteoporosis
Alzheimer's Disease and Other Dementias
Arthritis
That Embarrassing Bladder Problem
Depression
Living Longer, Living Better
Lifestyle      197
Weight     199
The Obesity Epidemic
Weight, Dieting, and Metabolism
What's My Healthy Weight?
That Magic 10 Percent!
Healthy Eating     204
Exercise     207
Smoking     210
Alcohol     212
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
Marriage Breakdown
You and Your Children: Always a Parent     233
CLIPBs and Boomerang Kids
Does Grandma=Babysitter?
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
Dislocated
Consolidating Our Gains     249
Women's Friendships
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
Internet Friendships
Community in Our Living Arrangments     255
Living Alone
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
Acknowledgments     277
About the Authors     279

Editorial Reviews

A useful, good read and deserving of a wide women's audience.

The National Post