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Here’s how to build your home gym
Mark Andrew has always made fitness a priority. “I was once told ‘exercise is lotion’. If you get up in the morning and do a 45-minute spinning class, you’ll feel better, ”says the 65-year-old. He was a regular at spin and other exercise classes, but when the pandemic broke out and the gyms closed, he needed a new plan to keep moving. Mr. Andrew, who lives in a two-bedroom apartment in downtown Vancouver with his wife, cut out a corner of the dining room and began investing in equipment: first a spinning wheel, then mats, heavier and heavier weights, and even a small set of Kettlebells. Andrew is among a wide variety of people who have invested in home exercise equipment since the pandemic broke out. While many fitness enthusiasts (and even some haters) are expected to return to the gym after the pandemic, those who have made large investments in exercise equipment in the past year are expected to stick with it and maybe even expand their home decor. Stacy Lee Kong reports.
As the mortgage is due for renewal, retired married couples remain on their credit lines
Five years after retiring, Garth and Karen wonder how long they can maintain their lifestyle without having to sell their home. He is 69 years old and worked in healthcare, she is 65 and worked in education. Together they have five grown children, one of whom they are currently helping out with the rent. “We are a retired couple, have been married for three years, live in Toronto,” Karen wrote in an email. For income, they use Canada Pension Plan, Old Age Security, Karen’s Pension, RRIF Withdrawals, and Lines of Credit. Both had good incomes during their working years. They are concerned that their mortgage is up for renewal this year, which gives them an opportunity to partially or fully consolidate their debt. Dianne Maley asked Matthew Sears, a Vice President and Certified Financial Planner at TE Wealth in Toronto, to look at Garth and Karen’s situation in the Globe’s latest financial facelift.
Bond for investors who fear both high interest rates and a market crash
Has there ever been a more uncomfortable time holding bonds? How Rob Carrick reports, it’s not just the fact that the benchmark bond index has lost ground so far this year. Interest rates are widely expected to rise at some point in the next 12 months, which is negative for bonds. Meanwhile, the surge in equity markets over the past 15 months has heightened concerns about a possible correction. Bonds will help stabilize a portfolio when this pullback occurs. How do you navigate this contradicting perspective? Check out this Globe Investor Watchlist of Short Term Bond ETFs and Rated Returns for the year through early June.
In case you missed it
Should you plan your funeral in advance – and pay for it in advance?
Most people save money and buy insurance to plan the misfortunes of life – but avoid the inevitable misfortunes of death, says Winnipeg-based funeral home Kevin Sweryd. Too often, he says, people leave funeral planning to their loved ones who leave them behind, which can mean they are paying more than they should as inflation creeps up every year. It also weighs down family members at the time of your death when they just want to grieve. But the trend is starting to change. Mr. Sweryd sees a growing number of people planning their funerals in advance – and paying for them in advance too – rather than leaving loved ones to organize them. Joel Schlesinger writes.
Why so many retirees cannot sleep
If you’re a senior struggling to close enough eyes, you are nowhere near alone. Sleep problems can worsen as you get older, and experts say it can be a reason for not having a job every day. Some retirees may also be less social, less physically active, and spend more time indoors without natural light. A senior’s circadian rhythm – the natural, internal process that regulates the sleep-wake cycle – also changes. As Gillian Livingston Reports, there are strategies to sleep well as you get older.
What else we read
The FIRE movement is not for everyone
Early retirement is a dream for many people, but for supporters of the FIRE (Financial Independent / Retire Early) movement it is a mission. FIRE people are extremely frugal in their 20s and 30s, allowing them to retire decades earlier than most people. These MarketWatch article investigates why FIRE is not for everyone. Author Richard Quinn writes: “Things that I think are too frugal: Never go out to eat. Never travel. Don’t own a car. Live in a remote piece of land and chop firewood for heating. ”But it is not just the extreme thrift of the FIRE movement that bothers Mr. Quinn. “Rather, it is also the associated claim to be financially independent.” The opinion article also triggered quite a discussion in the comment area of the article.
Why climate change should be part of your retirement plan
There is a growing new concern for Canadians considering moving south for the winter: climate change. These Forbes article deals with retirees in places like Florida struggling with the uncertainty of climate change, particularly hurricane season. Climate change has created a new “cone of uncertainty about where to live in old age,” the article says. It’s not just places like Florida. Climate change is also a problem in Canada, especially for retirees and others moving into homes near the water. According to the Insurance Bureau of CanadaFloods pose the greatest risk to homeowners due to climate change.
Tips for less active seniors to get out after the pandemic
The pandemic has been harsh for most people, but especially the elderly who are struggling with physical, emotional, and cognitive problems. After more than a year of largely incarcerated amid the pandemic, these people are expected to be challenged to get out into the world again. This article provides some tips on how to get back to exercise, including having realistic expectations of how quickly you can get back to your normal pre-pandemic activities. “Understand that for many people this was a time of psychological trauma and influenced our behavior,” says Dr. Thomas Cudjoe, geriatrician and assistant professor at Johns Hopkins Medicine in Baltimore. “We’re not going to return to pre-pandemic activities and engagement like turning on a light switch. We have to respect people’s limits. “
Do you have a question about money or lifestyle issues for seniors, or do you want to suggest a story idea for the Sixty Five series? Please send us an email at [email protected] and we find experts and answer your questions in future newsletters.