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

Spoiler Alert: The problem isn't just about interest rates

Dec 11, 2024

7 min

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

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Jan 12, 2026

7 min

The H³ Plan: How to Retire Without Losing Your Mind & How You Can Support Older Relatives

MEDIA ADVISORY Retirement planning expert Sue Pimento introduces her H³ Plan — a research-backed framework for maintaining mental and emotional health in retirement that goes beyond financial planning. The framework identifies three essential pillars — Hope, Help, and Horizon — that help combat the emotional flatness many retirees experience after leaving structured work. Drawing on neuroscience research and clinical insights, Pimento offers a practical "emotional pension plan" for the growing population of Canadians navigating this life transition. Sue Pimento is available for interviews on retirement wellness, healthy aging, and the psychology of life transitions. Retirement doesn't arrive with a crash. It arrives quietly. One day, you stop setting alarms, stop racing against the clock, stop feeling urgently needed—and no one gives you the mental and emotional playbook for what comes next. There should be a chapter titled: How to Keep Your Brain Engaged, Regulated, and Not Mildly Irritated by Everyone. Instead? 404 page not found. (Translation: the system is actively seeking guidance… and coming up empty.) And if you're nodding along thinking "yes… exactly" — IYKYK. (If You Know, You Know. And if you don't yet, give it time.) Understanding Your Emotional Pension Plan After years of writing, researching, listening, and living through this stage myself, three factors consistently emerge as essential to maintaining mental and emotional health as we age. I call it H³: Hope, Help, and Horizon. Here's why each one matters—and why neglecting any of them leaves you emotionally drained. Think of them as your emotional pension plan — not optional, not fluffy, but essential. 1. Hope: Not Just Wishful Thinking — Agency, Clarified In her reflective New York Times article, "Your Hopes," journalist and believing host Lauren Jackson examines increasing cynicism, waning trust, and—most importantly—what research indicates truly can turn the tide. One line sums up the difference perfectly: Optimism is believing the future will improve. Hope is believing you can make it so. Here's why that matters. Optimism versus Hope (Plain-English Edition) Optimism is passive: "Things will probably work out." Hope is active: "I can influence what happens next." Optimism awaits. Hope takes part. From a psychological perspective, hope is based on: • Agency (I am able to act) • Pathways thinking (I can find a way) Research from the University of Oklahoma's Hope Research Center indicates that hope is one of the strongest predictors of well-being, often surpassing income, education, and even past success. For retirees, this distinction is important because aging narratives often aim to gently remove us from the driver's seat. Hope replies with something more like: Back off, sister. I refuse to buy into outdated stereotypes. I've upgraded to a more modern version of aging—like a new iPod model. (Stereos are out of style. Keep up.) Hope maintains the nervous system in an engaged state rather than resignation. In fact, some see hope as far more nuanced. Frank O’Dea, best known for his personal comeback story — from being homeless to later becoming a very successful coffee entrepreneur as the co-founder of the Second Cup shares his thoughts in his book, “Hope is Not a Strategy.” His personal narrative reinforces a deep belief in hope as a powerful emotional engine, but never as a substitute for action. O’Dea, who later went on to be a co-founder of the Second Cup Coffee Company and is a recipient of the Order of Canada for his philanthropy and humanitarian work, speaks to the human tendency to confuse optimism with preparation — people often wish their way into opportunity, rather than work their way into readiness. I love this line from his book: “Hope is important — it gives us purpose. But without a strategy, it leaves us vulnerable. We win not by wishing, but by working.” — Frank O’Dea 2. Giving Back: Your Brain's Favourite (Unpaid) Job Giving back isn't about virtue. Or virtue signalling on social, for that matter. (It's not a branding exercise. No hashtag required.) It's about nervous system regulation. Over the holidays, I was listening to an interview on CBC Radio and found myself doing that thing where you stop playing Vita Mahjong mid-game because someone said something so logical but also completely fascinating. Gloria Macarenko’s episode with Vancouver-based psychologist and therapist Lawrence Sheppard explored in detail how giving back influences us and what he has personally observed in his practice. The message? Giving back is a key factor for mental health. Certainly, we've all heard the well-known phrase "tis better to give than receive"—or a version of it. But Sheppard wasn't referring to virtue or being kind. He was discussing what truly happens in the brain when we give. Here's the short version: Helping others shifts the brain out of threat mode and into meaning mode. So what's Happening Neurologically? Building on Sheppard's clinical work and broader neuroscience: • Chronic stress forces the nervous system to stay hyper-vigilant. • Rumination shifts inward and intensifies the sense of threat. • Contribution shifts focus outward • Helping activates reward pathways and emotional regulation. Giving back restores balance. • purpose • structure • connection • competence Giving back reminds your brain it's still engaged—just not earning money. (My definition of volunteering. Not Webster's.) And many retirees miss that feeling more than the salary. They also miss the tangibles: vinyl records, 99-cent bread, and the quiet satisfaction of being needed somewhere at 9 a.m. Importantly, giving back—like hope—helps regulate the nervous system by decreasing feelings of isolation and restoring a sense of predictability. Your brain prefers knowing where it belongs. 3. Something to Look Forward To: Anticipation Is Medicine This one is sneaky powerful—and well documented. Having something to anticipate generates excitement. And excitement is not merely a feeling. It's a nervous system event. Here's the connective tissue: All three pillars—hope, giving back, and anticipation—work because they shift the nervous system away from threat and stagnation, and toward engagement, reward, and regulation. The Science (Why Anticipation Works) Research by neuroscientist Wolfram Schultz showed that dopamine spikes most strongly before a reward—not during it. Later studies in affective neuroscience confirmed: • Anticipation boosts motivation and positive emotions. • Future-oriented thinking diminishes depressive rumination. • Predictable positive events enhance mood regulation. In plain English: Your brain lights up when it knows something good is coming. In many instances, anticipation offers more emotional uplift than the event itself. Think: • first date • first kiss • first solo trip • first "I can't believe I'm actually doing this" moment You cannot buy that feeling in a bottle. (Not even the little blue pill will do it.) Why This Matters in Retirement Work used to provide: • deadlines • milestones • future orientation • purpose • feedback • connection • a sense of accomplishment And yes—before anyone writes me a letter—stay-at-home moms, caregivers, and volunteers: that is work. Don't get me started. When structured work concludes, those inputs aren't automatically replaced. Without things to look forward to: • time flattens • mood dulls • life becomes emotionally beige Something—anything—on the calendar restores forward motion. What Giving Back Looks Like in Real Life My friend Janet retired at 63 with a solid financial plan and no emotional plan. Six months in, she was climbing the walls—bored, restless, wondering why she felt so flat when she "should" be enjoying herself. Then she started tutoring at the library (Help), signed up for a pottery course (Horizon), and realized she could actually shape this chapter however she wanted (Hope). Different person. Same retirement account. Completely different nervous system. Big Things Are Overrated Waiting for something big to look forward to is often just perfectionism wearing a sensible cardigan. We tell ourselves the next big milestone will fix everything, when in reality, progress usually happens in a game of inches. Small choices, taken consistently, create big shifts. Direction beats intensity every time. As I wrote in my last blog about my Everest Base Camp and MBA journey: Even Cs get degrees. And I'll add: Consistent B- work wins most races. Small counts: • weekly plans • standing dates • tickets bought months ahead • regular commitments Anticipation is hope with a calendar invite. The H³ Framework for a Happy Retirement (Hope. Help. Horizon.) All three regulate the nervous system and keep us engaged. Hope — I can still shape things Help — I'm useful and connected Horizon — My life has forward motion If life feels flat, add one from each column. That's the prescription. Retirement isn't just about slowing down. It's about re-wiring. In plain English: You are not done yet! Remember, hope keeps you engaged. Giving back keeps you grounded. Looking forward keeps you light. Or, translated: A happy retirement isn't passive. It's practiced. A Note for Those Supporting Older Relatives If you have aging parents, relatives, or friends in your life, be on the lookout for signs of depression, resignation, or apathy. The signs are obvious if you're paying attention: flat affect, repetitive complaints, withdrawal, that vague sense they're just going through the motions, or their smile doesn't reach their eyes. Here's what not to do: point it out directly or suggest they "find a hobby" or "volunteer somewhere." Here's what does work: create Hope and Horizon by scheduling regular outings—lunch, a walk, a movie, anything with a date attached. Sometimes we underestimate how much seniors look forward to our visits and connections. It's better than any tonic or medication to lift spirits, young and old. In this scenario, action speaks louder than words. Talking about depression often brings up shame and further withdrawal. Instead, think of love as a verb, not a noun. You don't need to fix anything. Just show up. Regularly. Predictably. No grand gestures. No reinvention required. Just presence with a pulse - and notifications on mute! Be that person! Don't retire. Re-wire. — Sue Want more of this? Subscribe for weekly doses of retirement reality—no golf-cart clichés, no sunset stock photos, just straight talk about staying Hip, Fit & Financially Free. Subscribe Here

Dec 30, 2025

6 min

My MBA Journey at 69: Because Apparently, Climbing Everest Base Camp Wasn't Enough

If you watched CBS 60-Minutes host, Cecilia Vega set out on a challenging 10-day trek to Everest Base Camp (EBC) in the Himalayas, for last week's episode, you couldn't help but marvel at the gruelling physical demands and the profound experience of being at the foot of Mount Everest. Her journey, which involved intense training, navigating dangerous suspension bridges, and dealing with extreme altitude, also highlighted the massive industry around Everest and the vital, underappreciated role of the Sherpa community. Her journey is an inspiring look at how we can push our own boundaries. Bravo Cecilia! Vega described hiking Everest Base Camp as "the hardest thing I've ever done physically," battling low oxygen (like breathing through a straw) and fatigue, despite months of training. She experienced sub-freezing temperatures, crossed dizzying suspension bridges, and even witnessed close calls with avalanches, with trusty Sherpas conducting nightly tent checks to ensure her safety. Hiking to Everest Base Camp is hard. I know. Because I did it. At 60 Let me explain. I have a tradition of celebrating milestone birthdays with a bang. When I turned 60, I gave myself six physical challenges — one for each decade lived. The grand finale? Climbing to Everest Base Camp. It was epic, exhausting, and left me with both altitude sickness and lifetime bragging rights. But as I approached 69, I craved something different. Not hiking boots this time — just highlighters. Not mountain peaks — mental peaks. I wanted an intellectual challenge that would prove my brain still had some miles left on it. No oxygen tanks required this time. Just caffeine, reliable Wi-Fi, and an iron will. How I Got Here (And Why I'm Questioning My Sanity) I've always wanted an MBA — partly for the knowledge, but let's be honest, mostly for the prestige. There's something irresistible about joining that club of spreadsheet-loving scholars. For years, I've imagined myself casually tossing around terms like "synergy" and "stakeholder engagement" while sipping something expensive in a sleek business lounge. What I didn't imagine was attempting this after a 46-year hiatus from university. Spoiler alert: It's harder than I thought. Like, significantly harder. Enter the MBA: Twenty-four courses. Two years or so, and approximately one hundred "What was I thinking?" moments. I enrolled at the Sprott School of Business at Carleton University, which offers a generous seniors' discount. I briefly debated whether to ask for the student discount or the seniors' discount — then thought, why not request both? I've earned these wrinkles and this tuition bill. Bonus perks: I qualify for the student medical and dental plans. My classmates use them for wisdom tooth extractions. I'm eyeing the denture clause. Term One: The Tech Tsunami Let's talk about the software situation. Brightspace. Turnitin. eProctor. Excel (the betrayer). Word. APA 7th Edition. And about a dozen other platforms that might as well have been written in Klingon. I expected a gentle introduction — maybe some academic foreplay before diving into heavy coursework. Instead, I was shoved into the deep end with weights tied to my ankles. Each assignment came with a forest's worth of readings, PowerPoint slides, and discussion board posts. I was up at 5 a.m., trying to squeeze in extra hours in the day. (Spoiler: you can't.) Despite decades spent managing teams, I was barely scraping 60% on quizzes — the open-book ones. How is that even possible? Accounting became my personal Everest. People kept telling me, "Excel is your friend." That's a lie. Excel is that friend who borrows your car, crashes it, returns it on empty, and then asks if you've bothered reading the manual. Casualties of War: Family, Friends, and Dottie My family was neglected. My friends assumed I'd entered witness protection. Even my little dog Dottie stopped talking to me. She'd give me this look — a devastating combination of pity and disappointment — every time I said, "Sorry, no walk today. Mommy has to study debits and credits." You haven't experienced true shame until you've been judged by a 10-pound dog wearing a sweater. The Breaking Point (And the Breakthrough) I'll admit it — I had serious moments where quitting felt like the only rational option. The workload was relentless. The jargon was endless. The pressure was overwhelming. I contacted teaching assistants, professors, and even the university librarian, desperately searching for a lifeline. They were all kind and patient. But ultimately, I had to figure it out myself. And somewhere between the caffeine highs and APA citation lows, something clicked. Even Cs get Degrees! By midterm, I began to suspect something radical: perhaps the large amount of work was the real test. Not the material itself, but the sheer volume. Maybe this was the school's way of differentiating dedicated students from curious ones, the serious from the casual observers. Was it possible that the secret to MBA success was learning what not to do? After all, the passing grade is a B- (70%). At this point in my life, I'd be happy with a 71% and a full night's sleep. Hence the title, Even Cs get Degrees! Working Smarter, Not Harder Somewhere between week three and mild hysteria, I made a radical decision: stop trying to do everything. I focused on lectures and study notes instead of drowning in supplementary readings. I prioritized assignments strategically. I stopped pretending perfection was achievable — or necessary. The results were immediate: • My grades improved • My panic attacks decreased • Dottie started making eye contact again I also began scheduling regular Zoom calls with professors and TAs — not just for assistance, but to foster genuine relationships (my lifelong superpower). Once I stopped pretending, I had everything under control; everything truly improved. School life has improved. Home life has also improved. I was finally able to brush my hair again. Slowing Down to Soak It In Next term, I'm taking just one course. Because honestly, what's the rush? I'm not chasing a promotion or striving for a corner office. I'm doing this for myself — for the simple joy of learning and the satisfaction of knowing I still can. I want to enjoy the journey, not rush through it gasping. I want to look forward to lectures rather than fear them. I want my sleep score (and my sanity) restored. The goal isn't speed. It's savouring. What I've Learned So Far Here's what these first two courses have taught me: ✓ I can still learn — even when my brain occasionally reboots mid-sentence ✓ I can focus — especially with enough coffee ✓ I'm still gloriously, endlessly curious ✓ I need sleep (The 5 a.m. club can keep their membership) ✓ I need fun (Revolutionary concept, I know) ✓ I love to learn (Turns out, I always have) ✓ I make mistakes — and they're not terminal ✓ I need help — and I must ask for it ✓ APA 7th Edition is real — and I finally understand what it means (Sort of. Mostly. Sometimes.) ✓ Even Cs or, in my case, a B- get a Degree — consistent, sustainable B- work will win most every race Looking Ahead: The Big 7-0 By the time I graduate, I'll be at least 70 years old. And honestly? I can't think of a better birthday gift for myself. When most people talk about slowing down, I'm actually ramping up. While others are downsizing, I'm uploading assignments at 11:58 p.m. When my friends ask why I do this, I smile and say: "Because I still want to know what I'm capable of." To Be Continued... This is just the beginning of my MBA adventure. I've completed two courses out of twenty-four. Twenty-two more to go — one term at a time, one course at a time, one small victory at a time. I'll update this blog periodically with new stories, fresh insights, and probably more tales of Dottie's disappointment. As We Start the New Year Here's a toast to all of us who refuse to act our age. To everyone starting something new — whether it's an MBA, a marathon, or a pottery class. To everyone who believes it's never too late to learn, to laugh, or to start again. Because learning doesn't stop when you retire. Sometimes, it's only just beginning. Stay tuned for Term Two updates, where I'll tackle another course, hopefully retain my sanity, and continue proving that 69 is just a number (and so is 70, 71, 72...). All the best to you in 2026 and beyond! Sue Don’t Retire… ReWire! Want to become an expert on serving the senior demographic? Just message me to be notified about the next opportunity to become a "Certified Equity Advocate" — mastering solution-based advising that transforms how you work with Canada's fastest-growing client segment. Here's the link to sign up.

Dec 10, 2025

8 min

Tinsel, Tears, and Turkey: How Seniors Really Feel About the Holidays

Ah, the holidays. That magical season when cinnamon fills the air, grandkids are glued to their phones, and you're wondering if it's too early to spike the eggnog. (Answer: it's 5 o'clock somewhere, and that somewhere is your kitchen.) For many older adults, the season is a cocktail of nostalgia, joy, and melancholy—served in a glass rimmed with memories of when the house was full, and the turkey wasn't store-bought. Dealing With The Ghosts of Christmas Past The holidays used to mean full houses, laughter echoing off the walls, and more food than a Costco freezer aisle. Now? Smaller gatherings, missing faces, and a nagging feeling that you're somehow in the way at your own celebration. There's a certain ache that comes with the holidays as we age. It's not just arthritis—it's memory. The people who made our holidays special might no longer be around, and while their photos still grace the mantle, their absence can hit harder than a fruitcake to the forehead. It's the quiet that gets you. The stillness of a home that used to hum with chaos. The microwave hums where the oven once sang. The Christmas card list has ghosted us—literally—replaced by e-cards that can't be hung on the fridge or hugged. And yet, despite the ache, many seniors keep the traditions alive. They polish the silver, bake the cookies, and set the table—because ritual matters. It's a way to say, I'm still here, and this still matters. Loneliness: The Fear No One Talks About Let's name the holiday elephant in the room. Yes, it turns out that one really is the loneliest number. It's that heavy feeling that sneaks in right around the time commercials start showing perfect families in matching pajamas (who, let's be honest, probably fought about those pajamas in the parking lot). The numbers tell a sobering story: A report by the National Institute on Ageing, finds that as many as 41 per cent of Canadians aged 50 years and older are at risk of social isolation and up to 58 per cent have experienced loneliness before. The holidays often bring additional pressure for many. It's important to note, you don't have to live alone to feel lonely. Seniors often fear being forgotten—left out of the group chat, the dinner invite, or even the conversation at dinner. Some feel like a burden, convinced their presence is more "obligation" than "invitation." That fear of irrelevance can creep up faster than fruitcake at a church bake sale. The internal dialogue doesn't help: "They're busy." "They have their own lives." "I don't want to be a bother." But here's the truth: you're not a bother. You're the keeper of stories, the family's living archive, and—let's face it—the only one who actually knows how to carve a turkey without creating a crime scene. The health stakes are real: According to a 2023 research report from the U.S. Surgeon General, loneliness and social isolation have a profound effect on mortality, equal to smoking 15 cigarettes per day. That’s more impact than obesity or sedentary lifestyles. It's associated with increased risk of heart disease, stroke, dementia, depression, and anxiety. This isn't just about feeling blue; it's about actual health outcomes. When Depression Wears a Santa Hat Holiday depression doesn't always look like tears and tissues. Sometimes it's withdrawing from events, skipping meals, or not bothering to decorate. It's saying "I'm fine" with a smile that doesn't reach your eyes. A prominent research study of seniors in the UK over a 12-year period published in The Lancet, confirms what many seniors experience: loneliness is a significant predictor of depression in older adults. The study found that higher loneliness scores were consistently associated with increased depression severity. The relationship works both ways—people with mental health conditions are more than twice as likely to experience loneliness. It can also show up physically—fatigue, poor sleep, or that vague feeling that something's just... off. The sparkle of the season fades under the weight of grief, change, or just the exhausting pressure to be merry when you're not feeling it. A few sad moments are natural. We all get a little misty when "White Christmas" plays for the 47th time. But if the blues linger past Boxing Day, it might be time for a gentle check-in—with a friend, a doctor, or someone who actually listens (not just nods while scrolling). Remember: asking for help isn't a weakness. It's wisdom. And honestly? It's badass. The Magic of Rituals and Traditions For seniors, traditions aren't just habits—they're anchors. The same decorations, the favorite songs, the "don't touch that, it's Grandma's angel" moment that happens every. Single. Year. Research shows that rituals and traditions provide crucial psychological benefits for older adults, including a sense of stability, purpose, and belonging. They offer structure and comfort during challenging times, helping seniors feel grounded and connected to their roots. Studies have found that maintaining traditions contributes to overall mental well-being and can even reduce symptoms of anxiety and depression. These rituals offer stability in a world that keeps changing at warp speed (seriously, when did voice-activated ornaments become a thing?). But when traditions fade—when no one asks for the shortbread recipe or the ornaments stay boxed—it can feel like being erased in real time. So here's the trick: Evolve the traditions. Pass the torch, not the guilt. Let the grandkids lead carols (even if they insist on adding Mariah Carey). Use the good china. Pull out the silverware stored in the wooden case under the china cabinet that hasn't been opened since 1987. Keep the spirit alive, even if it looks different now. How Seniors Can Create a Joyful Holiday (Yes, Really!) Reach Out First: Don't wait for others to make the first move. Call, text, or—even better—show up with cookies. People are often grateful for the invitation but also afraid to impose. Be the one who breaks the ice. Host a Mini Gathering: Even if it's just tea with a neighbor, connection is the best seasoning of all. Bonus: smaller gatherings mean less cleanup and more actual conversation. Volunteer: Nothing lifts the spirit like helping someone else. Food banks, shelters, and local schools welcome extra hands. Plus, it's a great reminder that you're still needed—and you are. Laugh on Purpose: Watch old comedies. Tell those same stories (again). Laughter really is medicine—no prescription, no co-pay required. Decorate Anyway: Even if no one's visiting, do it for you. Light up your space, and your mood might just follow. And if the neighbors think you're overdoing it? Even better. What Families Can Do (Besides Show Up Hungry) Here's your holiday homework, families: Visit More, Scroll Less. You can't hug over FaceTime. And honestly, Grandma's WiFi probably can't handle it anyway. Listen Like It's a Gift. Because it is. Let seniors share their stories without rushing them or checking your phone. They're not just repeating themselves—they're reliving joy. (And yes, you've heard it before. Listen again.) Include Them in the Chaos. Let Grandma wrap presents, Grandpa set the playlist, or Aunt Sue take charge of... okay, maybe not the gravy. But give them a role. Purpose is the best present. Check In Regularly. A quick "thinking of you" text can mean more than an expensive gift. Though, to be fair, both are nice. Respect Their Pace. Big gatherings can be overwhelming. Sometimes small and meaningful beats loud and crowded. Not everyone wants to do the Macarena at Christmas dinner. (Looking at you, Uncle Bob.) Remember: the greatest present you can give an older adult is presence—yours. The Importance of Joy (and How to Find It Again) Joy doesn't always come in grand gestures. Sometimes it's hiding in the small stuff: • The smell of pine needles • The first snowflake (before it turns into gray slush) • That old ornament you swore you'd throw out • The laughter of family—even if it's at your expense Joy isn't found lying around like loose change. It's made. Sometimes it's coaxed out with a memory, a song, or a well-timed bad joke about Aunt Sue's lumpy gravy. And if all else fails, remember this: you've survived decades of holidays. Burnt turkeys. Broken ornaments. That unfortunate incident with the glue gun in 2003. You've earned the right to laugh through the tears and dance in your slippers if you damn well feel like it. The Real Gift The holidays remind us that connection—not perfection—is the true magic. For seniors, it's about being seen, heard, and loved. For families, it's about showing up, listening, and laughing together. Because one day, those elders' stories will become yours. And you'll want someone to care enough to hear them, too. So let's make this season count. Let's call more, visit more, and laugh more. Let's honor the past while making new memories. And let's remember that the best traditions aren't the ones that stay the same—they're the ones that adapt, evolve, and keep bringing us together. Now pass the eggnog. The spiked kind. Let's All Sit Under the Mistletoe and Sing the Retired Remix of "Jingle Bells" (To the tune of "Jingle Bells") Dashing through the snow, With a walker all in tow, To the mall we go, Moving nice and slow! Family's out of sight, Texting through the night, Oh, what fun it is to Zoom My grandkids once a night—hey! Chorus: Jingle bells, jingle bells, jingle all the way, Oh, what fun it is to chat With friends who won't delay—hey! Jingle bells, jingle bells, laughter saves the day, Lonely hearts can still feel joy— If love just finds a way. Happy holidays, everyone. May your turkey be moist, your family be present, and your eggnog be strong. Want more insights like this? Subscribe to my free newsletter here, where I share practical strategies, real-world stories, and straight talk about navigating retirement with confidence—not confusion. Plus, all subscribers get exclusive early access to advance chapters from my upcoming book. For Canadians 55+: Get actionable advice on making your home equity work for you, understanding your options, and living retirement on your terms. For Mortgage Brokers and Financial Professionals: Learn how to become the trusted advisor your 55+ clients—it's your opportunity to build lasting relationships in Canada's fastest-growing demographic. Sue Don’t Retire…Re-Wire! References & Resources for You or a Loved One On Loneliness and Social Isolation: • U.S. Surgeon General. (2023). Our Epidemic of Loneliness and Isolation: The U.S. Surgeon General's Advisory on the Healing Effects of Social Connection and Community. https://www.hhs.gov/sites/default/files/surgeon-general-social-connection-advisory.pdf • Medicare FAQ. (2024). Loneliness in Seniors Statistics: Combating Social Isolation. https://www.medicarefaq.com/blog/senior-loneliness-statistics/ • Mayo Clinic. (2023). Loneliness and Social Isolation Through the Holidays. https://newsnetwork.mayoclinic.org/discussion/loneliness-and-social-isolation-through-the-holidays/ On Depression and Mental Health: • Kok, R.M., & Reynolds, C.F. (2020). The association between loneliness and depressive symptoms among adults aged 50 years and older: A 12-year population-based cohort study. The Lancet Psychiatry. https://www.thelancet.com/journals/lanpsy/article/PIIS2215-0366(20)30383-7/fulltext • Cigna. (2021). The Loneliness Epidemic Persists: A Post-Pandemic Look at the State of Loneliness Among U.S. Adults. On Traditions and Rituals: • Oregon Counseling. Why Traditions Matter to Mental Health. https://oregoncounseling.com/article/why-traditions-matter-to-mental-health/ • Care365. Maintaining Traditions with Seniors. https://www.care365.care/resources/maintaining-traditions-with-seniors Additional Support: • National Council on Aging. Four Steps to Combat Loneliness in Seniors During the Holidays. https://www.ncoa.org/article/four-steps-to-combat-loneliness-in-seniors-during-the-holiday-and-beyond/ Emergency Services If the situation is urgent or someone is in immediate danger: Call 911. Canada Suicide Prevention Service (CSPS) • Call: 1-833-456-4566 (available nationwide, 24/7) • Text: 45645 (evenings) • Chat: available at 988.ca

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