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Friday, April 19, 2024 3 Brooklin Town Crier Brooklin's Community Newspaper Proud to be a Brooklinite Since 2000. Published 24 times per year. Editor, Richard Bercuson 613-769-8629 • editorofbtc@gmail.com • Circulation 8000 • Delivery via Canada Post Locally owned and operated. A publication of Appletree Graphic Design Inc. We accept advertising in good faith but do not endorse advertisers nor advertisements. All editorial submissions are subject to editing. For advertising information, contact: Email: mulcahy42@rogers.com Next Issue: Friday, May 3, 2024 Deadline: Friday, April 26, 2024 Brooklin TOWN CRIER.com The first salvo: Premier Ford accused Mayor Liz of bullying him. "I'm not going to be bullied by that mayor out there…" That mayor. Out there. Such eloquence. His pique was over our Mayor enticing residents to sign in to the online hospital letter campaign by offering, as he masterfully articulated, "everything under the kitchen sink." Signees' emails went straight to his office. In his world, that's bullying. The second salvo: "To the residents of Durham," Ford said, "we're showing them a tremendous amount of love. They'll be getting a hospital, and we'll choose the site." Tremendous love. (More erudition) We'll choose the site. (Really?) Over two years ago, Whitby had been chosen as the locale, not by some partisan government cabal but by Lakeridge Health itself. Ford even announced in February Whitby would get its hospital. And where was he when he made the proclamation? The Brooklin Tim Hortons. Last July 23, the Toronto Star's Martin Regg Cohn wrote about the Premiers' conference in Winnipeg. The headline was, "Doug Ford can be a bully or a bestie, depending on what's in it for him." The piece pointed out who Ford was chumming with or not and why. The third salvo: Mayor Liz replied, "I'm very surprised and taken aback," the diplomatic equivalent of "Say, what!?" Additional descriptives may be applied. Full disclosure, which pains me and highlights a weakness: I have shattered any semblance of objectivity on the subject of the hospital by signing in to the mayor's campaign. She did not show up at my door armed with a nine-iron to threaten me. I've not been bribed nor corrupted any more than my extravagant lifestyle normally affords. Mayor Liz has been cordial every time I've met her. Mind you, since I'm the resident media mogul, she realizes she needs to tread carefully around me. Such is the power of the printed word. I examined the list of prizes and I've not stopped tingling at the fantasy. Or was it the stone I stepped on? Their total value is $1,578.72 which, she announced, has been paid for in kind. Let's face it. None of the prizes will make one's head spin. If all of that is a bribe, it's a darned chintzy one. She and I will have words one day about chintzy. I've never won anything and I worked out the odds which were a darn sight better than the Blue Jays 50/50 contest. What's more, it didn't cost me anything. But then I considered the Premier's mindset when he called her a bully. Is it possible he misspoke? Resorted to a 25-cent word when a two dollar one escaped him? Realized he was ineligible for any of the prizes? And what of our MPP Lorne Coe? Shhh…hear that silence? Nah. He just huffed and puffed, figuring Mayor Liz would cower and slink away. Except she didn't and won't. Nor will Whitby. I guess that makes us all bullies. Less than half the picture: The War of the Words By Richard Bercuson We all want to live long lives. We all expect to live long lives. But are we financially prepared for this longevity? Before we get to the issue of preparation, let's look at a couple of interesting findings from a 2022 survey by Age Wave and Edward Jones: 1. 50 percent of the Canadian retirees surveyed said they would like to live to 100 years old. 2. They indicated that the ideal length of retirement is nearly three decades, 27 years. Of course, none of us can see into the future and know how long we'll be around. But with advances in medical care and a greater awareness of healthy lifestyles, these aspirations have a real basis in reality. However, if you're going to enjoy a longer lifespan, and the extra years with your loved ones, you need to ensure your finances are also in good shape. How can you make this happen? Here are some basic steps to follow: • Save and invest early and often. This may be the oldest piece of financial advice, but it's still valid. The earlier you start saving and investing for your retirement, the greater your potential accumulation. Consider this: If you began saving just $5,000 per year at age 25, and earned a hypothetical 6.5% annual rate of return, and didn't take any early withdrawals, you'd end up with $935,000 by the time you reached 65. But if you waited until 35 to start saving and investing, and you earned the same hypothetical 6.5% return - again with no early withdrawals - you'd only end up with $460,000. And if you didn't start saving until 45, you'd end up with just over $200,000, again given the same hypothetical 6.5% return. Be mindful of debt. You may not want to be burdened with certain debts when you enter retirement. So, while you're still working, try to reduce unwanted debts, particularly those that don't offer the financial benefits of tax-deductible interest payments. The lower your debt load, the more you can save and invest for the future. Keep reviewing your progress. It's important to monitor the progress you need to make toward achieving your goal of a comfortable retirement. Over the short term, your investment balances may fluctuate, especially in volatile financial markets such as we've seen in the early part of 2022. But you'll get a clearer picture of your situation if you look at long-term results. For example, have your accounts grown over the past 10 years as much as you had planned? And going forward, do you think you're in good shape, or will you need to make some changes to your investment strategy? Keep in mind that, unused contribution room in your Registered Retirement Savings Plan (RRSP) and Tax-Free Savings Account (TFSA) from previous years can be carried forward to future years. You may also want to adjust your investment mix as you near retirement to potentially lower your risk exposure. Hopefully, you will enjoy many years of a healthy, happy retirement. And you can help support this vision by carefully considering your financial moves and making the ones that are right for you. This article was written by Edward Jones for use by your local Edward Jones Financial Advisor. Prepare yourself for a long retirement by Brian Evans, Financial Advisor THIS ARTICLE IS A PAID ADVERTISEMENT 20 Broadleaf Avenue, Unit B108, Whitby Office: 905-620-1439 Cell: 905-431-1898 brian.r.evans@edwardjones.com www.edwardjones.ca