Experts Matter. Find Yours.

Georgia Southern welcomes Georgia state leaders on Wexford Campus in Ireland

Georgia Southern University’s Wexford Campus in Ireland has been invigorating educational, civic, business and trade opportunities between Ireland’s southeast region and the state of Georgia since its establishment in 2022. The bicultural partnership has drawn the attention of state leaders in Georgia, prompting a recent visit to the international campus where Georgia Southern and its Irish partners welcomed the delegation. “We hosted legislators and leaders of industrial development and enterprise organizations,” said Howard Keeley, Ph.D., director of Georgia Southern’s Center for Irish Research and Teaching (CIRT). “These Georgia stakeholders believe that what Georgia Southern is doing in Ireland is important. One of the major concepts behind the Wexford Campus is that it’s a true campus, not just a study-abroad venue. So we’re pursuing several streams of activity. One is teaching and another is research. Another one is economic development, which includes internships and community engagement. We want to be in the community; therefore, to have leading constituents from a variety of industries in Georgia was very gratifying.” Among the attendees were U.S. Congressman Earl L. “Buddy” Carter; Georgia Department of Economic Development Commissioner Pat Wilson and five members of his senior staff, as well senior officials from electrical utilities, including Georgia Power; Trip Tollison, CEO of Savannah Economic Development Authority; Teresa MacCartney, chief operating officer for the University System of Georgia; and Georgia Rep. James Burchett (‘04), along with 10 additional members of the Georgia House of Representatives. “The main thing we wanted to do is show them what the student experience is like,” said Keeley. “We care about our students, and, using philanthropic funds, we’ve invested in a beautiful set of buildings, including one, built in 1886, that will house 50 students at a time. Each year, our goal is full capacity over six minimesters for a total of 300 Georgia Southern students. Historically a religious convent, that structure should open in spring 2026, after extensive remodeling. Many Georgia Southern students, including construction management and interior design majors, are gaining valuable professional skills by contributing to the endeavor.” The Wexford Campus already features the Learning Center, a historic administrative complex constructed in 1812 that has been transformed into a contemporary, high-tech educational space where students learn from local and international experts. They also present their research to peers and visiting Georgia Southern alumni while participating in high-impact experiential learning within the region. Visiting delegates were pleased to learn about the Honors College Global Scholars Program, which hosts 24 Honors College students who, taking an interdisciplinary approach, explore two themes for six weeks each spring in Ireland. This year, a prominent topic of study was sustainability in agriculture. One of Georgia Southern’s European research partners, South East Technological University Ireland, helped guide the students as they compared sustainability challenges along the coasts of Georgia and southeastern Ireland. The students drew on various research efforts, including important knowledge generated by Georgia Southern’s Institute for Water and Health. Similar integrated concepts also inform the summer and fall offerings. In 2024, they included two undergraduate global business courses, as well as the first Europe-based course from the MBA program at Georgia Southern’s Parker College of Business. One focus for the MBA students was Rosslare Europort, just south of Georgia Southern’s Wexford Campus, which has become Ireland’s fastest-growing port as multiple new direct routes to continental Europe have opened in response to Brexit. At a workshop facilitated by a top Rosslare Europort official, the MBA students explored international trade, logistics and supply chain management and the European regulatory environment. Spanning undergraduate, graduate and doctoral levels, the Wexford Campus has also provided courses in accounting, philosophy, sociology, geography, environmental biology, tourism and public health, among other disciplines. Shadowing Irish experts, population health science students from the Waters College of Health Professions focused on designing and delivering preventative-health programs, a critical matter in both Ireland and Georgia. “One of the metrics we use to measure success in Ireland is asking what makes it worthwhile for students to complete the course in Ireland as opposed to staying in the United States,” posed Keeley. “The bottom line is that we’re trying to provide a range of courses that look like Georgia Southern and that meet the degree needs, but also the employment needs in the state of Georgia. We’re always looking at how we can make our students more competitive, deepen their knowledge and give them as much hands-on experience as possible. This is really one of the things that we hope is a differentiator for us.” Notably, annual scholarships are available for the Honors College Global Scholars Program, Department of Political Science and International Studies students and Irish Studies students thanks to generous donations from alumni. In addition, philanthropic support has provided $1,000 to each participating student to offset the cost of transatlantic air travel. “The Wexford Campus’ directives exemplify Georgia Southern’s mission of providing holistic educational opportunities for our students to excel and grow,” said Annalee Ashley, Ed.D., Georgia Southern Vice President for External Affairs, Communications, and Strategic Initiatives, who participated in the trip. “Employers value global consciousness and intercultural skills when hiring, and our students who study abroad can enhance their skills, intellect and hireability in the marketplace. We are proud to serve Georgia and the entire southeastern region in this unique way, and to be supported by the state of Georgia as the University moves toward an R1 designation.” Beyond the campus, the group explored Johnstown Castle, an environmental and agricultural research center and heritage venue, as well as the Dunbrody Emigration Experience Center, whose newest permanent exhibition, Savannah Landing, is based on research by Georgia Southern students. The work highlights more than 170 years of historical ties that connect Savannah and Wexford, where hundreds boarded ships and crossed the Atlantic Ocean to arrive in Georgia’s coastal city in the mid-19th century. The centerpiece project, which was celebrated by the Irish prime minister at a ribbon-cutting in August, was made possible by $832,000 in research-grant funding, secured by the Dunbrody Center and Georgia Southern’s Center for Irish Research and Teaching. “Our guests got to experience history and understand the unique story that connects County Wexford to Savannah and, by extension, the state of Georgia,” noted Keeley. “Furthermore, they were able to see more than three-quarters of a million dollars of investment in Georgia Southern student work. That was super exciting.” The legislative group also met with Georgia Southern’s Irish partners, who shared what this relationship means to the people of Wexford and its hinterland, Southeast Ireland. “We invited all the players onto the field to strategically advance themes of education, economic development, and civic and cultural engagement,” said Keeley. “I believe they concluded that Ireland is a fit. It boasts a thriving economy that is modern, global and innovative. It’s the youngest economy in Europe in terms of workforce, and Ireland is one of the biggest investors in the U.S. economy.” Georgia Southern leadership and local Irish legislators, including four members of the Irish House of Representatives, Senator Malcolm Byrne and members of Wexford County Council, hosted Georgia’s VIPs with open arms. “They wanted to rally around us in the way that a family will rally around you,” said Keeley. “They couldn’t have done more. They totally rolled up their sleeves. It was a complete partnership hosting, and we were able to demonstrate that our network is so solid.” Wexford County Council leader Pip Breen shared opportunities for deeper connections with the Georgia delegation through the Irish nonprofit TradeBridge. Established in 2018, the entity facilitates trade and investment between the southeastern regions of Ireland and Georgia by developing new export markets and job creation opportunities. The trade corridor opens doors for southeastern Irish companies to establish a supportive base in southeastern Georgia, while also creating similar coordinates for companies based in southeastern Georgia to enter the European Union marketplace. Keeley, who was awarded the Presidential Distinguished Service Award for the Irish Abroad from the Government of Ireland in 2023, is a board member. “Georgia Southern’s footprint in southeastern Ireland is an important one for students and for the state of Georgia,” said Ga. Rep. Burchett. “The strides they are making not only allow students to participate in research in engineering, coastal sustainability, history and other important areas of study, but they also directly drive trade and investment opportunities between the southeastern regions of Georgia and Ireland. This was an amazing visit and we value our friendships within the Irish community.” Following the event, Burchett returned the hospitality with an invitation for Wexford County Council members to be recognized in person on the floor of the Georgia General Assembly in March 2025. “They very enthusiastically accepted the invitation,” Keeley shared. “I think when you’re involved in education, when you’re doing business and when you’re building out opportunities, the most important single thing is friendship and like-mindedness. You cannot achieve anything otherwise. There has to be this human-to-human connection. There has to be genuine mutual respect and mutual affection, and that was just in spades.” Georgia Southern’s Wexford Campus was featured on the national Irish TV program, “Nationwide.” You can see it here: Looking to know more, then let us help. Howard Keeley, director of Georgia Southern’s Center for Irish Research and Teaching, is available to speak with media. Simply click on his icon now to arrange an interview today.

Drops in the Bank of Canada rate will not solve housing affordability.

Summary: The Bank of Canada’s interest rate cuts won’t resolve Canada’s housing affordability crisis. Factors such as skyrocketing home prices, unaffordable down payments, and stagnant wage growth are other primary challenges to address.  A personal example offered by the author shows how the price of her Toronto home surged over 1,000% from 1983 and 2024 while her wages during the same period rose only 142%. While some see this issue as a consequence of Baby Boomers remaining in their homes, it's more nuanced than that.  We have systemic barriers in Canada that necessitate targeted policy changes. It’s time to tackle affordability and implement effective solutions. The Bank of Canada met today, to determine interest rates for the last time this year. They announced a drop of .50 basis points. This is part of a broader effort to stimulate economic growth in Canada, which faces challenges, especially a softening labor market and persistent inflation.  Why Should You Care? Interest rates determine how affordable our debt will be and what return we can expect on our savings. Since mortgages represent most consumer debt, interest rates directly impact affordable housing costs, making them very newsworthy. However, interest rates only tell part of the story. When the Bank of Canada lowers its rate, it primarily impacts variable-rate mortgages. These are tied directly to the BoC's overnight rate, so a rate cut can reduce the interest costs on these loans. Homeowners with variable rates would likely see a reduction in their payments, with more of their payments going toward principal rather than interest. People without debt and savings (primarily seniors) will see a drop in their investment returns. In contrast, fixed-rate mortgages, which are not directly tied to the BoC's rate, are influenced more by the bond market, particularly the 5-year government bond yield. The current trend in bond yields suggests that fixed mortgage rates could also decrease over time. Let’s pause here and talk about the affordability of houses and how interest rates are not the reason housing is out of reach for most first-time buyers. A walk down memory lane might offer some perspective. I purchased my first home in the fall of 1983 for $63,500 (insert head shake). I was 27 years old, and before you do the math, yes, I am a Baby Boomer. My first serious (so I thought) live-together relationship had just ended, and I was looking for a place to live. I had finished school and had a good full-time job with Bell Canada. A rental would have been preferred, except I had a dog. Someone suggested that I buy a home. I did not know very much about purchasing real estate or homeownership, for that matter. But I was young and willing to learn. I had been working full-time for two and a half years. During my orientation at Bell Canada, my supervisor told me to sign up for their stock option program. She said I would never miss the money or regret signing up for the plan. She was right. When I purchased my home, there was enough money in my stock account for a down payment and closing costs. My interest rate was a terrifying 12.75%, yielding a mortgage payment of just under $670 monthly. The lender deemed this affordable based on my $18,000 annual wage. Life was good. This was in 1983, when the minimum down payment for a home purchase in Canada was typically 10% for most buyers. However, a lower down payment could be possible with mortgage insurance (provided by organizations like Canada Mortgage Housing Corporation (CMHC), which allowed buyers to put down as little as 5%, provided they qualified for insurance. This was commonly available for homes under $150,000, with stricter terms for higher-priced homes. If you had a higher down payment of 25% or more, mortgage insurance wasn't required, and you could avoid extra costs associated with insured mortgages. This was part of broader efforts by the government to make homeownership more accessible, especially amid the high interest rates of the time. So let's do the math. Circa 1983 I first needed to prove that I had saved $3,175 in down payments and $953 in closing costs for $4128. In the 2.5 years I worked at Bell Canada, I saved $4,050 (including Bell Canada’s contribution) in stocks. I also had another $5,000 in my savings account. $9,000 was enough to complete the transaction and leave me with a healthy safety net. Fast forward to 2024 Let’s compare what the same transaction would look like today. Using the annual housing increase cited on the CREA website, the same house would be valued at approximately $700,000 today. Interest rates are much lower today, at 4.24%, yielding a mortgage payment of $3,545. 1. The down payment rules have changed. For the first $500,000, The minimum down payment is 5%. 5% X 500,000=25,0005\% \times 500,000 = 25,0005% X 500,000 = $25,000 2. The minimum down payment for the portion above $500,000 is 10%. 10% X (700,000−500,000) = 20,00010\% \times (700,000 - 500,000) = 20,00010% X (700,000−500,000) = $20,000 3. Total minimum down payment: 25,000+20,000 =4 5,00025,000 + 20,000 = 45,00025,000+20,000 = $45,000 Thus, the minimum down payment for a $700,000 home is $45,000. Here is the comparison: 1983 Scenario  2024 Scenario  Variance Purchase Price: $63,500                               $700,000                                           up 1002% Down Payment: $3,175                                 $45,000                                             up 1317% Loan Amount: $60,325                                  $655,000                                           up 986% Interest Rate: 12.75%                                   4.24%                                                down 200% Monthly Mortgage Payment: $670                $3,545                                               up 429% Wage: $18,000                                             $43,500                                              up 142% Gross Debt Service Ratio: 44.6%                 97.8%                                                up 119% Time to Save for Down payment: 2 years                                                           12.4 years                                        up 520% *Please note that this example does not include mortgage insurance The real problem As you can see, housing was much more affordable for me in 1983 and far from cheap in 2024. During the past 41 years, wages have increased by 142%, yet interest rates have dropped by 200%. But the most significant impact on affordability has been the over 1,000% increase in housing prices. So why is all the focus on interest rates? At the risk of oversimplifying a complicated issue, I believe the media often uses interest rates as a "shiny penny" to capture attention, diverting focus from deeper housing affordability issues. This keeps the spotlight on inflation and monetary policy, aligning with economic agendas while ignoring systemic problems like down payment barriers and the shortage of affordable homes. Indeed, a movement in interest rates often has an immediate and noticeable impact on borrowers' affordability, making it a hot topic for news and policymakers. However, the frequency and consistency of the Bank of Canada meetings on interest rates give the impression that rates are the primary issue, even though they are just one part of a complex system. For example, even if the Bank of Canada dropped interest rates below zero, it would do little to solve today’s homeownership affordability issue. The real problems: 1. Down Payment Challenges: With housing prices skyrocketing, the 5%- 20% down payment required has become insurmountable for many, particularly younger buyers. High rents, stagnant wage growth relative to home prices, and rising living costs make saving nearly impossible. 2. Lack of Affordable Starter Homes: Due to profitability and zoning restrictions, housing developments often prioritize larger, higher-margin homes or luxury condos over affordable single-family starter homes. 3. Misplaced Generational Blame: Blaming Baby Boomers for "holding onto homes" oversimplifies the issue. They are staying put due to limited downsizing options, emotional attachments, or the need for housing stability in retirement, not a desire to thwart younger generations. 4. Political Challenges: Addressing structural issues like zoning reform or incentivizing affordable housing construction requires political will and collaboration, which can be slow and contentious. A broader lens is needed to understand and address the actual barriers to home ownership. Interest drops are merely a band-aid solution that misses the central issue of saving a down payment. The suggestion that we have an intergenerational issue needs to be revised. The fact that Baby Boomers are holding on to their homes should not surprise anyone. However, Real Estate models that predicted copious numbers of Baby Boomers selling their homes to downsize got it wrong. Downsizing was a concept conceived in the 1980s. Unfortunately, it did not account for record-setting home price increases or inflation, leaving it undesirable for today’s seniors. Although this is a complex issue, a few suggested solutions are worth exploring. What can be done? Focus on Policy Innovations: To create housing, increase supply, curb speculative investments, and provide targeted assistance for builders to build modest starter homes. To create rentals, homeowners should also receive income tax incentives to build Accessory Dwelling Units (ADUs). These could be used as affordable rentals or to house caregivers for senior homeowners. Today, The federal government announced a doubling of its Secondary Suite Loan Program, initially unveiled in the April 2024 budget. This is a massive step in the right direction. To create down payments, adopt a policy allowing first-time home buyers to avoid paying tax on their first $250,000 of income. Then, they could use the tax savings as a down payment. Focus on Education and Advocacy: Include a warning that helps consumers understand that withdrawing from RSPs results in a significant loss of compound interest related to withdrawals and how this can harm income during retirement. Encourage early inheritance to create gifted down payments. Normalize the concept by emphasizing the benefits to the giver and the receiver. Educate the public on using financial equity safely and create down payments as an early inheritance for their heirs. This will shift the conversation and initiate an intergenerational transfer of wealth that empowers the next generation to own a home. The Bottom Line While the Bank of Canada interest rate cut may ease some financial strain for homeowners with variable-rate mortgages, it will do little to address the core issue of housing affordability. The media's fixation on interest rates as a "shiny penny" distracts from more profound systemic barriers, such as the inability to save for a down payment and the lack of affordable housing stock. These challenges require targeted policies, structural reforms, and intergenerational collaboration to be tackled effectively. The focus must shift from short-term rate adjustments to long-term solutions that prioritize accessibility and affordability in housing. Without meaningful action, homeownership will remain out of reach for many, perpetuating the cycle of financial inequity across generations. Dont't Retire... Re-Wire! Sue

National Science Foundation Confirms Record Research Growth at LSU

The National Science Foundation confirmed LSU’s record research expenditures of $488 million in fiscal year 2023. This historic growth of 14% compared to 2022 was previously announced by LSU and represents top performance alongside research university peers such as the University of Kentucky and the University of Tennessee. The growth reflects increased research activity across the LSU Family—especially on the flagship campus and at LSU Health New Orleans and LSU Health Shreveport. The national ranking of LSU’s five research campuses—the flagship in Baton Rouge, the LSU AgCenter, Pennington Biomedical Research Center, and the two LSU Health campuses—increased from 71 to 69, a rise moderated by the average growth of U.S. research universities around 11%. Compared to its peers, LSU is a leader in win-win partnerships with state and local government, with strong and continued investment in research. LSU research adds an estimated $1.3 billion to the Louisiana economy each year. The numbers that were just confirmed by the National Science Foundation recognize LSU as especially strong in federally grant-funded research in life sciences, geosciences, math and statistics, and computer and information sciences. These strengths align with the data-driven research priorities of the LSU Scholarship First Agenda to create new solutions for agriculture, biomedicine, coast, defense, and energy. “This NSF report confirms our focus on research growth to meet the needs of the state as well as our dedication to LSU’s Scholarship First Agenda,” said Robert Twilley, LSU vice president of research and economic development. “The significant increase in federal grants to LSU and Louisiana represents growing investment in our competitiveness and capacity to solve problems for the state and nation.” Read the full NSF report: https://ncses.nsf.gov/surveys/higher-education-research-development/2023

The Great Trillion Dollar Wealth Transfer

Summary: Between now and 2026, over $1 Trillion of wealth will move from Canadian Baby Boomers to younger generations.  Dubbed the “Great Wealth Transfer,” this change is underscored by a cultural shift toward “giving while living,” where seniors are motivated to share their wealth during their lifetimes, driven by factors including personal satisfaction, rising costs for younger generations, and tax efficiency.  These shifts in wealth highlight the importance of open, informed  Intergenerational conversations and the need for trusted financial advice to manage this transfer effectively. However, it risks widening wealth gaps between the haves and have-nots. Better financial literacy, tax planning, and a better understanding of real estate’s role in estate planning and wealth management are essential for ensuring equity and sustainable financial legacies. What it Means • The Largest Transfer of Wealth Is Happening Now: Between now and 2026, over $1 Trillion of wealth will move across multiple generations from Canadian Baby Boomers to their GenX and Millennial heirs. • A Culture Shift is Happening: Older Canadians are now, more than ever, “giving while living.”  They actively want to share their wealth with younger family members while still healthy.  In many families going forward, you won't hear that familiar phrase, "Hey Gram, Stop Spending My Inheritance!" • We aren't fully prepared for this shift: Families need informed, intergenerational conversations among themselves and with trusted financial advisors. They also need to better understand how some of their more significant assets, such as real estate, can provide tax-efficient ways to unlock and share wealth with younger family members. Boomers are sharing their wealth while they still have their health. Many Canadians have joined the growing trend of “giving while living.” This trend is not only changing societal norms but is also spreading like wildfire. The current economic climate, with out-of-reach housing prices coupled with Boomers wanting to witness the impact of their financial gifts, makes for a perfect storm. This storm, valued at 1 trillion dollars, could rebalance the distribution of wealth for many fortunate beneficiaries. Let’s explore what is motivating the Baby Boom generation in Canada to leave a living inheritance to a younger generation: 1. Psychological Reasons: Many seniors want to help their children or grandchildren with significant expenses such as education or home purchases. This provides a gratifying sense of pride. The logic is that they (children or grandchildren) will eventually get their money, so why not give it to them now when they need it the most? 2. Economic Reasons: Some parents or grandparents feel compelled to step in and help financially as they see their adult children and grandkids struggling.  It may be to help fund education or to pay off debt such as a student loan.  The burden of debt often delays other decisions, such as having children, traveling, or saving for a down payment on a first home or a bigger home to accommodate a larger family. And the price of homes today is well beyond the means of the younger generation, even without student debt.  3. Personal Reasons: Older Canadians often find joy in seeing their financial contributions positively impact their loved ones during their lifetime. Sometimes, there are some less conspicuous motivators as well. Improving their children’s financial situation may entice them to have precious grandchildren, or providing financial assistance could allow the gift giver to have a say on how the money is spent—something they would have less control over if they were deceased. 4. Tax Savings: Distributing wealth while alive can reduce the size of an estate and minimize probate fees. And with the popularity of RESP's and TFSA's there are options to gift or contribute to these plans that may offer tax advantages. And some seniors aim to avoid conflicts by distributing assets directly, ensuring clarity and fairness. 5. Cultural Reasons: Traditional notions of inheritance and family values are evolving. Many Baby Boomers see their wealth as a tool to uplift and empower their families while they are alive and are able to counsel their families on preserving and spending the money wisely. This is an opportunity for seniors to create a legacy while alive. Sharing wealth can bring a sense of purpose, gratitude, and connection. For many, it’s an opportunity to strengthen family bonds and pass on values like generosity, financial literacy, and responsibility. Impact • A Wider Wealth Gap: This transfer of wealth could have a significant impact by increasing the income disparities between the haves and have-nots. According to figures from the Canadian Professional Accountants Association, at the end of 2022, the wealthiest families in Canada (the top 20 percent) accounted for two-thirds of the country’s net worth, while the bottom 40 percent accounted for just 2.6 percent. In this latest economic cycle of soaring inflation and growing credit card debt, the net worth of Canada’s least wealthy households is suffering. And while we’ve seen recent increases in capital gains taxes, more changes from the federal government will likely be required to bridge this wealth divide. • The Need for Honest Intergenerational Conversations. Let’s face it: having a transparent conversation with family members about death and money is awkward. But post-pandemic, we’re seeing more seniors looking closely at their financial and estate plans to see what they can do to pass on wealth to deserving and often younger family members. Getting to know the impact of one’s gifts has its practical advantages in addition to the karma generated. Whether it’s to help a family member buy their first home, pay down college debt or start a business, these gestures can be transformative for other family members and very satisfying for seniors. As the saying goes, "you can’t take it with you." • The Need for Trusted Advisors. For many of these younger beneficiaries lucky to receive this generational transfer, having a clear financial plan that extends to informed tax strategies will be vital. The entire community, from financial planners to accountants, lawyers and mortgage brokers, have a lot of work ahead of them, according to the research. A recent Ipsos Reid study suggests Canadians are primarily unprepared to manage their inherited money. The Ipsos poll (conducted on behalf of RBC Insurance) reveals that 61 percent of Canadians don’t feel knowledgeable about (or haven’t even heard of) the probate process or the process to establish the validity of a will, and 57 percent don’t know that specific insurance policies can mitigate estate tax burden. • Improved Financial Literary for All Ages. Conversations about money also need to extend to better discussions about how significant assets such as real estate holdings contribute to wealth. For instance, given a considerable proportion of many family estates are related to real estate and more seniors are looking to “Age in Place” at home, seniors and their adult children must understand various financial strategies, such as equity lending, that can give seniors the financial freedom to age in place while giving them the cashflow to help younger family members while reducing potential tax burdens. Getting to know the impact of one’s gifts has its practical advantages in addition to the karma generated. Whether it’s to help a family member buy their first home, pay down college debt or start a business, these gestures can be transformative for other family members and very satisfying for seniors. As the saying goes, "you can’t take it with you." The Bottom Line One thing is certain. This is an infrequent event, which, over the next few years, will benefit many. Much is on the line for families, the financial industry, and our government. We should expect to see more discussions on tax reform and addressing wealth disparities to ensure social stability and economic growth. And it will require the financial industry to adapt in a number of ways.  For instance, how should we account for these demographic shifts and potentially longer lifespans in our guidelines and how we work with clients? I also hope we see more open and honest discussions about family legacy and financial literacy/education, which play a significant role in preparing the next generation to handle inherited wealth responsibly. As I continue research for my upcoming book, I'm looking closer at demographic trends, gaps in financial literacy, to how our industry needs to work better with Seniors in a way that recognizes these emerging cultural and economic shifts. I'd like to know what you think.  Drop me a line in the comments, or reach out to me directly at our new website - www.retirewithequity.ca Don't Retire...Re-Wire! Sue

Does Donald Trump Like Seniors?

At 78, Donald J. Trump already has 13 years of experience as a senior citizen. During his previous presidency, he occasionally referenced his senior status, particularly when discussing issues affecting older Americans. For example, in the 2020 election campaign, he acknowledged his age and addressed fellow seniors directly in his messaging, sometimes referring to himself as part of the senior community. Looking at his record, Trump appears to have a complex relationship with seniors. While expressing support for essential programs such as Social Security and Medicare, he often weaves the needs of seniors into his rhetoric. Yet some of his policy decisions have created mixed feelings among older Americans and advocacy groups. While pledging to protect these programs, he’s considered budget-cut proposals to reduce the funding of both these programs. Plus, his administration attempted to repeal the Affordable Care Act. While even the smartest of experts have learned it’s difficult to predict what Donald Trump will do on key policy decisions, there are some clues as to how his move back into the Oval Office will impact Canada and, more specifically, seniors. This topic got me wondering. Does Trump (a senior himself), like seniors? Let’s look closer at this demographic. Everyone knows that older people are the most reliable voters. The stats are compelling. According to Elections Canada - 75% of Canadians aged 65-74 voted compared to 48% of those aged 18-24. - The statistics for our US neighbours are similar, with 70% of Americans aged 65+ voting and 50% of Americans aged 18-29 voting. Knowing this voting power of the senior demographic, did Trump pander to this voting cohort? Yes, he most certainly did. He knew that as people age, their concerns narrow to a smaller list of critical topics such as Financial Security, Health, and Safety.  During his 2024 presidential campaign, Donald Trump focused heavily on appealing to older voters, who historically make up a significant portion of the electorate and are more likely to vote. His campaign emphasized economic stability, protecting Social Security and Medicare, and national security—particularly relevant to older demographics. Let’s take a closer look at how the Trump administration could impact Canada's senior demographic in the following areas: Inflation Background: Inflation has a direct correlation to the cost of living. As the prices of goods and services rise over time, the purchasing power of money decreases – a challenge for many seniors. Critical expenses like housing, healthcare, food, and utilities could increase noticeably, putting pressure on limited retirement incomes and pensions. All this is stressful. According to a 2024 national survey of over 2,000 Canadians (conducted by Leger on behalf of FP Canada), money remains the top stressor for Canadians, with 44 percent citing money as their primary concern; That's up from 40 percent in 2023 and 38 percent in both 2022 and 2021. What This Means: Two of Trump’s biggest promises in his campaign (mass deportation of undocumented immigrants and more restrictive trade regulations) would have a "significant impact," according to an article by Ellen Cushing in the Atlantic.  A domestic labour shortage plus double-digit import taxes would raise food prices on both sides of the border. Cushing goes on to say that “deporting undocumented immigrants would reduce the number of workers who pick crops by 40-50%.” While this rhetoric may have played well during the campaign, you can't fake the simple math here. Fewer workers means higher wages. That means higher prices. And the senior demographic will be hit hard because of their fixed incomes. Many will eat less of the expensive grocery store items like fresh meat, fruits and vegetables to make ends meet. Food prices will inevitably climb with these policies. The only question is when. According to a new poll conducted for CIBC and Financial Planning Canada on November 27, 2023, approximately 75% of working Canadians still need a formal financial plan for retirement. And many retirees face economic difficulties.  A whopping 25% are still carrying debt into retirement.  Many also report they have a substantial portion of debt and report that their retirement lifestyle isn't as comfortable as expected. The impact of inflation could be dire with few solutions; it is different for these older Canadians because they cannot re-enter the workforce. The only saving grace is that many of the hardest-hit Canadians are homeowners with equity options. Interest Rates Prediction: According to Beata Caranci, SVP & Chief Economist of TD Bank, the US is likely to raise interest rates to control growth. Canada is also expected to increase its rates, mainly to keep the Canadian dollar stable against the U.S. dollar. The Bank of Canada could be forced to rescind the projected planned interest rate reductions or at least reduce them. However, it's a delicate balancing act.  Our economy could suffer if we don’t mirror the US increases in interest rates. Impact: Increasing Canadian interest rates will impact seniors by increasing mortgage carrying costs. At the same time, older Canadians with investment savings could see increased returns on these savings. A rise in interest rates would also impact housing prices and foreign exchange rates. House Prices Background: Economic, demographic, and policy-related factors influence home prices in Canada. The new Trump administration will undoubtedly impact these factors. To understand this area, let's examine some significant variables affecting housing costs. 1. Supply and Demand When housing supply is limited, and demand is high, prices rise. Conversely, when supply exceeds demand, prices stagnate or fall. Should the new administration adopt more restrictive immigration policies in the US, Canada might see an increased influx of skilled workers and families seeking an alternative place to live. Housing demand will likely increase in major Canadian cities—Toronto, Vancouver, and Calgary- resulting in price increases. 2. Population Growth An increase in population or immigration boosts housing demand, particularly in urban centers, consequently increasing home prices. Canada welcomed 485,000 immigrants in 2024, many of whom settled in cities like Toronto and Vancouver. This influx has driven up demand for housing, contributing to price increases. The Canadian government has recently reduced the number of immigrants we allow into our country, dropping the number from 500,000 to 395,000 in 2025. Current immigration numbers plus any overflow from the US should keep demand buoyant and we could see home prices continue to rise. However, Canada needs more housing, especially in high-demand urban areas. In addition to immigration, slow construction timelines and zoning restrictions are contributing factors. Canada's ongoing housing shortage and the potential impacts of Donald Trump's election win in the U.S. could exert upward pressure on home prices, particularly in major cities like Toronto and Vancouver. These cities, already grappling with limited housing and high prices, will likely see further price increases due to increased demand.  Without robust policy interventions to increase the housing supply, Canada’s housing prices, particularly in major centers, will likely continue rising. And there will be winners and losers here. This is great news for seniors wishing to sell and exit the market by finding other living arrangements, such as renting, moving in with family, or entering retirement homes. It is even better news for seniors wishing to age in place as they will have more equity to fund their retirement. But it’s disappointing news for those wishing to downsize and stay in the same communities. They may be able to sell high, but they could also be forced to buy high. 3. Foreign Currency Trump's policies, such as tax cuts and protectionist trade measures, have historically strengthened the U.S. dollar. If similar policies are reintroduced, the U.S. dollar could become more robust due to increased investor confidence and perceived economic growth in the U.S. That’s bad for Canadians traveling or living in the U.S.  Trump's potential trade disputes, particularly with China, and his aggressive geopolitical stance could also create uncertainty in global markets. While this might temporarily strengthen the U.S. dollar as a haven, long-term concerns about trade wars and deficits could cause fluctuations, impacting the Canadian dollar's stability against the U.S. dollar. This volatility directly impacts Canadians, especially those with significant financial exposure to the U.S. dollar. A second Trump presidency will likely impact the exchange rate between Canadian and U.S. dollars, which is especially relevant for 85% of Canadian Snowbirds, who, according to Snowbird Advisor, spend winters in the United States. This number was estimated to be 900,000 in 2023. These seniors may face increased expenses for property taxes, utilities, and other daily living costs in the U.S. If exchange rate volatility persists, locking in more favourable rates or using specialized currency exchange services, US credit/debit cards with lower transaction fees, and using US dollar accounts might be wise - especially for more significant financial transactions. The Bottom Line One thing is certain. Trump's second term has the potential to impact many Canadian seniors if he implements the policies he discussed during his election campaign. While some could benefit financially from higher home equity and investment returns, many may need help with increased living costs, especially food and foreign exchange challenges, particularly Snowbirds and those on fixed incomes.  While we are all watching this situation unfold, one thing is sure.  It's difficult to predict if Trump’s second term will make Canadian or US seniors "great again."

Dangers of the Metaverse and VR for U.S. Youth Revealed in New Study

The metaverse, a space where the lines between physical and digital realities blur, is rising among younger populations. As of March, 33% of teens own a virtual reality (VR) device and 13% use it weekly. With the metaverse offering richer emotional experiences, youth may be particularly vulnerable to significant harm in these immersive spaces, underscoring the need to explore potential risks. Unfortunately, research of online victimization in the metaverse is sorely lacking. A new study by Florida Atlantic University , in collaboration with the University of Wisconsin-Eau Claire, is one of the first to examine the experiences of harm in the metaverse among youth in the United States. Using a nationally-representative sample of 5,005 13 to 17 year olds in the U.S., researchers focused on their experiences with VR devices, including 12 specific types of harm experienced, protective strategies employed, and differences in experiences between boys and girls. Results of the study, published in the journal New Media & Society, found a significant percentage of youth reported experiencing various forms of harm in these spaces, including hate speech, bullying, harassment, sexual harassment, grooming behaviors (predators building trust with minors), and unwanted exposure to violent or sexual content. The study also revealed notable gender differences in experiences. Among the study findings: 32.6% of youth own a VR headset (41% of boys vs. 25.1% of girls) More than 44% received hate speech/slurs (8.9% many times); 37.6% experienced bullying; and 35% faced harassment Almost 19% experienced sexual harassment; 43.3% dealt with trolling; 31.6% were maliciously obstructed; and 29.5% experienced threats More than 18% were doxed (publicly revealing someone’s personal information without their consent); and 22.8% were catfished (creating a false identity online to deceive someone, typically for romantic purposes) Nearly 21% faced unwanted violent or sexual content; 18.1% experienced grooming or predatory behavior; and 30% were targeted for factors like weight, sexual preference, sexual orientation or political affiliation Boys and girls experienced similar patterns of mistreatment, but girls experienced sexual harassment and grooming/ predatory behavior more frequently than boys. Boys and girls were equally as likely to be targeted because of their voice, avatar, race, religion or disability. “Certain populations of youth are disproportionately susceptible to harm such grooming, especially those who suffer from emotional distress or mental health problems, low self-esteem, poor parental relationships and weak family cohesion,” said Sameer Hinduja, Ph.D., first author, a professor in the School of Criminology and Criminal Justice within FAU’s College of Social Work and Criminal Justice, co-director of the Cyberbullying Research Center, and a faculty associate at the Berkman Klein Center at Harvard University. “Due to the unique characteristics of metaverse environments, young people may need extra attention and support. The immersive nature of these spaces can amplify experiences and emotions, highlighting the importance of tailored resources to ensure their safety and well-being.” Findings also reveal that girls employed in-platform safety measures significantly more so than boys such as “Space Bubble,” “Personal Boundary” and “Safe Zone.” “We found that girls are more likely to select avatars designed to reduce the risk of harassment and to use in-platform tools to maintain a safe distance from others. Additionally, both boys and girls feel comfortable leaving metaverse rooms or channels like switching servers in response to potential or actual victimization, although overall, youth tend to use these safety features infrequently,” said Hinduja. Among the recommendations offered to youth by the researchers include: Using platform-provided safety features to restrict unwanted interactions and infringements upon their personal space. It is also essential that youth understand and take advantage of the safety features available within metaverse experiences, including blocking, muting, and reporting functionalities. Continued research and development in these areas to determine how to meet the needs of users in potential or actual victimization contexts Streamlining platform reporting mechanisms to ensure swift action is taken against perpetrators Age-gating mechanisms for metaverse environments where mature content and interactions proliferate Encouraging parents and guardians to take the time to familiarize themselves with available parental control features on VR devices and metaverse platforms to set boundaries, monitor activities, and restrict certain features as needed. An active mediation approach is ideal, where they engage in open and supportive dialogue with children about their metaverse experiences. The integration of updated, relevant, and accessible digital citizenship and media literacy modules into school curricula to provide youth with the necessary knowledge and skills to navigate VR and other emerging technologies safely and responsibly Consideration by content creators of the ethical implications of their metaverse creations, ensuring that they promote inclusivity, respect, and discourage any form of harassment. They should strive to make their virtual experiences accessible to users from diverse backgrounds, languages, cultures and abilities. “VR concerns of parents and guardians generally reflect and align with their historical anxieties about video games, excessive device use, its sedentary nature, cognitive development, and stranger danger,” said Hinduja. “There remains so much promise with these new technologies, but vigilance is required when it comes to the unique challenges they present as well as the unique vulnerabilities that certain youth users may have. As such, it’s ‘all hands on deck’ to build a safer and more inclusive metaverse as it continues to evolve.” If you're looking to know more - let us help. Sameer Hinduja, Ph.D., is a professor in the School of Criminology and Criminal Justice at Florida Atlantic University and co-director of the Cyberbullying Research Center. He is recognized internationally for his groundbreaking work on the subjects of cyberbullying and safe social media use, concerns that have paralleled the exponential growth in online communication by young people. He has written seven books, and his interdisciplinary research is widely published and has been cited more than 18,000 times. Simply click on Sameer's icon now to set up an interview today.

Civil discourse will be crucial to healing after the election

As we inch toward Election Day and brace for the aftermath, learning to disagree will be as important as ever. Civil discourse – actively engaging while aiming to understand, not persuade – is the key to navigating the upcoming political minefield, says Tim Shaffer, the Stavros Niarchos Foundation Chair of Civil Discourse at the University of Delaware. Shaffer, who is also director of the Stavros Niarchos Foundation Ithaca Initiative in UD's Biden School of Public Policy and Administration, can discuss the concept of civil discourse and how it can be used to navigate a society so divided politically that it has torn friendships and families apart. Some main points: • Civil discourse emphasizes listening to understand others’ perspectives, focusing on shared values – such as family – rather than conflicting positions. • Disagreement is actually important. Society needs friction for growth and progress. • Advice for healthy discourse: Practice intellectual humility, acknowledging the complexity of issues beyond right and wrong and recognizing the importance of gray areas in life. • Staying safe and sane on social media: "People need to feel safe and included, and we need to ensure we hear differing viewpoints, so how do we balance those competing values? There’s no secret answer, but we have to figure it out collectively." • Open discussions can be a valuable tool. "I believe in the power of education—church basements, community spaces, classrooms—to make a difference," Shaffer says. Reporters can connect with Shaffer directly by visiting his profile and clicking on the contact button.

Why Do We Tell Ghost Stories?

From collecting candy to carving pumpkins, Halloween is defined by its traditions, and few are as time-honored as the telling of ghost stories. Whether recounted by crackling campfires, read from well-worn books or streamed on big-screen TVs, supernatural tales seem to take on a special resonance in the lead-up to October 31. And, on the whole, we seem more than comfortable enduring chills and braving thrills to enjoy them. But what draws our attention, season after season, to things that go bump in the night? And what makes the paranormal such a powerful, and persistent, storytelling device? Mary Mullen, PhD, is an associate professor of English at Villanova University and the instructor of the course "Ghostly Matters," which delves into haunting's role in culture, history and society. From her perspective, our longstanding fascination with spirits, specters and phantoms speaks as much to our concern for the world around us as to our interest in the hereafter. "At their core, ghost stories unsettle us," says Dr. Mullen. "They raise questions about what we consider normal, what we view as 'everyday life,' what we value as 'modern' and whether the past is still with us or not." As Dr. Mullen explains, when we're presented with something that's "haunted," we're essentially being asked to consider the reasons why. The very existence of spirits, emerging from beyond the grave, compels us to reflect on their presence's meaning—and to think about what developments might draw the ire, intrigue or intervention of the dead. (When watching Steven Spielberg's "Poltergeist," for instance, a viewer might feel the movie's ghosts are completely justified in terrorizing the profit-hungry real estate firm that disturbed their eternal slumbers.) Spirits, in turn, consistently set our focus on items left unsaid, unconsidered or overlooked. Departed yet still present, drifting somewhere between this plane and the next, they often challenge the living's notions of progress, propriety and success—and signal a last-ditch effort at preserving something that has all but faded from recollection. In effect, they bring the past into dialogue with the present for the sake of the future. "Ghost stories are really useful for contemplating transition and change and what's lost in the process," says Dr. Mullen. "They give a name to things that are liminal… For example, Luke Gibbons [a professor at Maynooth University] says that ghost stories, in modern Irish writing, are frequently connected to memories that haven't yet become public history. So, they speak to facets of social life that exist, or have existed, but are not present in monuments or official accounts." From Virginia Woolf's "A Haunted House" to Toni Morrison's "Beloved," tales of the supernatural provide us with what Dr. Mullen terms "glimmers of possibilities." They serve to mirror and embody our complicated feelings on transformative happenings, whether personal, communal or generational, and they afford us the language and vocabulary to express sadness over what is done and hope for what is yet to come. "There are certainly ghost stories, like Elizabeth Bowen's 'The Demon Lover,' that end in absolute terror with no seeming resolution," says Dr. Mullen. "But I think that, in a lot of these tales, haunting leads to reconciliation, or different kinds of healing or important acknowledgements—of things that need to be acknowledged." As Dr. Mullen proceeds to explain, it's no coincidence that the roots of the contemporary ghost story can be traced to the 19th century, a period of great social upheaval, cultural displacement and scientific and technological advancement. The product and reflection of a tumultuous "new age," the genre, as we know it, took hold as a means of reckoning with that which was lost, actively transpiring and still to occur. Perhaps it's no surprise then that, as the leaves begin changing and autumn starts giving way to winter, we have an affinity for tales that center on visits from the afterlife, bridging the past, present and future. "I think that we tell ghost stories when we're open to moving beyond our sense of 'the everyday,'" says Dr. Mullen. "And there are certain points of the year, like the holidays and gatherings with family and friends, that are so rich with emotion and memory that the boundary between this world and the 'otherworld' seems maybe—just maybe—capable of being crossed."

Money vs Memories in Retirement

Summary: This article explores whether or not money or memories will bring more comfort to the elderly. It is written with the underlying assumption that there is already enough money to meet basic living expenses.  As we age, the question of what will bring us the most comfort in our twilight years becomes increasingly relevant. For many, it comes down to two key aspects: money and memories. On the one hand, financial security provides a foundation of comfort, ensuring that one’s needs are met without the fear of lacking resources. On the other hand, cherished memories bring emotional warmth, helping individuals navigate the often-challenging aging journey. In this article, we will explore which of these two — money or memories—plays a more significant role in delivering comfort in old age, assuming one has enough financial resources to cover basic living expenses. While I appreciate that good health takes precedence over money and memories, we unfortunately do not have complete control over our health. However, we have control over our decision to save our money to give us comfort.  Or we can choose to spend our money to create memories that will provide us with comfort. Financial Security: A Foundation for Comfort Money is a powerful enabler, allowing us to meet our needs and desires. It's particularly important in the context of aging because it can mitigate many of the hardships of growing older. 1. Access to Quality Healthcare: One of the most significant concerns for elderly individuals is health. With aging comes a higher likelihood of chronic conditions, disabilities, and the need for regular medical attention. Financial security allows individuals to afford quality healthcare, access advanced treatments, and have the freedom to choose the best facilities. Having sufficient money provides a critical safety net for those who experience sudden medical emergencies or need long-term care. 2. Comfortable Living Arrangements: As people age, they often face the decision of where to live. While some prefer to stay home, others may move to assisted living facilities or hire caregivers. Financial resources enable elderly individuals to choose comfortable living environments tailored to their needs and preferences. A well-maintained home, access to mobility aids, or a peaceful retirement community can significantly enhance an individual’s day-to-day life. 3. Freedom and Autonomy: Financial independence in old age allows for greater autonomy. With money, elderly individuals can control their lives by making choices that suit their preferences, such as travelling, pursuing hobbies, or supporting loved ones. The ability to make decisions about healthcare, leisure, or everyday living preserves dignity and independence, both of which are central to feeling comfortable and fulfilled. 4. Reducing Stress and Anxiety: Aging can bring about several uncertainties, especially health and mobility. However, financial security can significantly reduce the stress and anxiety of worrying about the future. Knowing that expenses, including potentially unforeseen ones, are covered allows elderly individuals to focus on enjoying life rather than constantly fretting over how to afford their basic needs. This peace of mind is invaluable in ensuring a comfortable old age. While money plays a crucial role in creating a foundation of comfort, it has emotional and psychological well-being limitations. This is where memories come into play. Memories: Emotional Anchors in the Journey of Aging As the years pass, memories become a primary source of emotional sustenance. They connect individuals to their past, their loved ones, and the experiences that shaped their lives. When people reflect on what matters most to them in old age, it’s often not material wealth but the moments that brought them joy, love, and meaning. 1. Emotional Fulfillment: Memories of joyful experiences, adventures, and time spent with loved ones can offer deep emotional fulfillment in old age. Recalling meaningful moments provides a sense of accomplishment and satisfaction, reminding individuals of the richness of their lives. For many, the bonds formed with family and friends, the challenges overcome, and the dreams pursued give life meaning and offer comfort in later years. 2. Connection to Loved Ones: As elderly individuals have fewer physical responsibilities, they often spend more time reminiscing. Positive memories help bridge the gap between generations, allowing the elderly to connect with their children, grandchildren, and even great-grandchildren. Sharing stories from the past strengthens family bonds and ensures that their legacy lives on, creating a sense of continuity and significance. 3. Combatting Loneliness: People may experience increased isolation as they age, particularly after losing a spouse or friends. In such times, memories serve as a balm for loneliness. Even in moments of solitude, recalling past experiences, adventures, or time spent with loved ones can bring comfort. Memories provide companionship in their own right, filling the gaps left by physical absence and reducing feelings of loneliness. 4. Identity and Self-Continuity: Our memories are integral to our identity. They help us understand who we are by reminding us of the paths we've taken, the challenges we’ve faced, and the triumphs we’ve celebrated. For elderly individuals, the ability to look back on a life well-lived reinforces their sense of self. Memories act as an anchor, helping them feel grounded as they navigate the changes that come with aging. 5. Psychological Resilience: Life is inevitably full of hardships, and old age is no exception. However, memories of overcoming past difficulties provide emotional strength and resilience. Looking back on moments of hardship reminds elderly individuals that they’ve faced challenges before and emerged stronger. This sense of resilience can be empowering in the face of the physical and emotional challenges of aging. Balancing Money and Memories It’s essential to recognize that money and memories are not mutually exclusive; they often complement each other. While financial security provides the external comfort and security needed to navigate old age, memories provide the internal warmth and emotional fulfillment that give life depth and meaning. In determining which offers more comfort, it’s essential to consider an underlying assumption: there is already enough money to meet basic living expenses. In this scenario, it becomes clear that while financial resources are essential, memories are more significant. Consider the following: 1. Life Experiences Are Often Enabled by Money: The ability to create cherished memories often depends on financial resources. Travelling, pursuing hobbies, and spending quality time with loved ones may all require money. However, the memories created from these experiences—not the money spent—bring lasting comfort. In old age, the satisfaction of having lived a rich life full of meaningful experiences often outweighs the material possessions acquired. 2. Financial Security Loses Meaning Without Emotional Fulfillment: Imagine having all the money needed in old age but lacking meaningful memories or connections to loved ones. In this case, wealth would bring only a hollow sense of comfort. With emotional fulfillment, money is likely to provide lasting satisfaction. In contrast, those with a lifetime of cherished memories may find comfort even in modest circumstances, as their inner wealth—their experiences—remains invaluable. 3. The Longevity of Memories vs. Material Wealth: As we age, our ability to enjoy material goods and external pleasures may diminish due to declining health or physical limitations. However, memories transcend physical limitations. Even if elderly individuals cannot travel or engage in once-loved activities, they can still find joy in recalling their past. In this sense, memories have a longevity that material wealth may lack. 4. Regret and Fulfillment in Old Age: Many studies have shown that people regret missed opportunities and unfulfilled relationships far more than financial shortcomings at the end of life. The things that bring peace and comfort in old age are often intangible: love, connection, purpose, and meaning. Memories of having lived a full life, having nurtured relationships, and having followed one’s passions often bring a greater sense of contentment than wealth alone. The Enduring Power of Memories In the context of aging, both money and memories play significant roles in creating comfort. Financial security provides the practical means to ensure health, independence, and a comfortable lifestyle, while memories offer emotional sustenance, a sense of identity, and a connection to loved ones. At Retire with Equity, we suggest everyone create an emergency fund of at least 5% of their retirement savings. One primary purpose of this fund is to pay for unexpected healthcare needs, such as assisted living or hiring caregivers. Given that basic financial needs are met, memories—those intangible, priceless moments—tend to provide the most incredible comfort in old age. They remind us of the richness of life, the love we’ve shared, and the experiences that have shaped who we are. While money offers external comfort, memories provide internal peace, warmth, and solace as we navigate the later stages of life. Ultimately, what will comfort us in our golden years is not how much money we have in the bank but how much life we’ve genuinely lived. Don't retire---Re-Wire

Welcome to Retire with Equity: Where a New Retirement Journey Begins

Summary: A recent study reveals that 40% of Canadians over 50 feel financially unprepared for retirement. Retire with Equity aims to address this issue by educating retirees on the importance of leveraging home equity. The initiative emphasizes transparency, financial literacy, and personalized guidance to help seniors make informed decisions and achieve financial security in retirement. According to a recent National Institute of Aging study, almost 40% of Canadians over ​50 feel they are not financially ​prepared for retirement.  As a seasoned citizen myself, I know we can do better.  That's why we've created Retire with Equity.  It's time to help Canadians get the knowledge they need to make more informed financial decisions. My observations from my time in the industry, enriched by the research I've done over the past few years, clearly reveal a growing retirement crisis in Canada. I've worked in the banking and mortgage industry for over 25 years, specializing in equity lending, and spent the last 6 years as an executive at Canada’s largest Reverse Mortgage bank.  Many people are struggling with mounting debt and no company pension.  And they are living longer. Additionally, the long-term care situation in Canada has many seniors looking to age in place in their homes. Strategies like downsizing and moving in with family are often too simplistic and have little appeal to today's seniors.  Some eventually, often begrudgingly, turn to home equity options such as reverse mortgages as a solution. However, Canadians are conservative by nature, and many think it is taboo to touch their equity (nest egg). Consequently, a reverse mortgage is a last resort. 76% of people over 65 are homeowners, many of which have built up a substantial amount of equity yet cannot afford to retire. (Source: Statistics Canada) Income is the only way to solve the retirement crisis. Many are choosing to work longer to delay spending savings. Some need to pay off debt to eliminate payments that will free up cash flow. Others do not have enough savings to retire. I saw the stress this caused watching my Mother “do without” in her retirement.  With the benefit of experience, I now know there was a better way for her to finance her golden years. The Retirement Problem in Canada is Dire Many 55+ Seniors Don’t Have the Funds They Need: Many need an adequate budget and financial plan. And many don’t fully realize that employer and government pensions will fall short of their cashflow needs. Home Equity Unlocks Opportunities, But It's Misunderstood: Many retirees don’t fully understand the short—and long-term impacts of their home equity financing decisions. They rely on biased, incomplete,  anecdotal information from friends and family. Seniors Need to Be Cautious: Homeowners are especially vulnerable targets for misinformation and fraud. However, this demographic does not have time to recover from a financial mistake. Making the wrong choices that affect how they finance retirement and protect themselves could leave seniors without enough money later when they need cash for costly expenses like health care. The Financial Industry Needs to Do More: There is a need for unbiased, transparent, and trusted sources of information on home equity options that are aligned with consumer interests. Gone are the days of cookie-cutter retirement plans and guaranteed pensions. Every Canadian needs to proactively craft their unique vision and path for retirement.  Banking on My Experience The Retire With Equity mission is dedicated to helping retirees find the right combination of financial strategies to achieve their goals. The Equity Advantage One of the standout features of Retire with Equity's approach is our focus on home equity as a key component of retirement planning. For many Canadians, their home is their most significant asset, and unlocking its potential can be a game-changer. Whether through downsizing, refinancing, or reverse mortgages, Retire with Equity will offer guidance on integrating this valuable resource into a retirement strategy. The Human Touch At Retire with Equity, we promise to offer straightforward advice with a personal touch. It's not just about the numbers – it’s also about the dreams you have for retirement.  We will bring patience, empathy, and respect to every conversation. And we won't forget our sense of humour, as retirement is supposed to be fun.  We're committed to making things easy to access and understand, no matter where you are in life.  Education is Everything Two of our core values are empowering education and epic transparency. Our online resources, webinars, and workshops will be tailored to demystify the world of finance for retirees and soon-to-be retirees, increasing their financial literacy. We will bring transparency to the vital information reserved for the small print, answering the questions retirees don't even know to ask. Whether you're a financial guru or just starting to think about your nest egg, we'll have something for you. A Senior-Friendly Approach Our approach will integrate technology with a user-friendly interface so that retirees can access their services without hassle. Gone are the worries of getting stuck in the weeds of complex interfaces or endless financial jargon. We bring "kitchen table" logic when explaining all financial details, no matter how complex the concept is. Stories that Inspire From coast to coast, Retire with Equity will share personal stories that help educate and motivate Canadians. We want to show you visible proof that it's always possible to rethink and revitalize retirement plans. Hearing from fellow Canadians who have successfully navigated the retirement waters offers hope for those still planning their way. Feelings of guilt and shame are common among retirees searching for retirement options. Learning about countless other retirees in similar situations often alleviates this guilt and shame.  Join the Revolution Retire with Equity is more than just a company—it’s a movement. Canadians across the country will join in and transform their retirement years into the best chapter of their lives. Empowered by new tools and expertise at their fingertips, they will not just survive but truly thrive in retirement. As an "Equity Advocate," I pledge to help Canadians navigate the complexities of retirement in ways that educate, inspire, and entertain.  I look forward to the conversation.  Please subscribe to our regular updates and follow us on social media.  Here's to the best years ahead! Don't Retire---Re-Wire! Sue