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Rosalyn J. Cronin
Certified Management Accountant

Rosalyn Cronin is a Certified Management Accountant who loves to give people advice on becoming a Savvy Spender.

She has been counseling clients about personal money management for years, steering them away from potential disaster and helping grow a healthy attitude about money. “It is not about how much people earn; it is all about how they spend what they have” is her favorite tip.


Retirement for many an interesting choice...

Retirement for baby boomers is for many an interesting choice between leaving the work force for a more interesting job and remaining in a not-so-interesting position for the sake of a higher pension or larger retirement fund. The meltdown in the market has created some fear that there will be funds coming out of RRSP investments and the disappearance of pensions from large scale bankruptcy proceedings leaves all but government workers with a feel of insecurity about the future.

Perhaps the answer lies in forgetting about retirement at an “age” and looking at it from a lifestyle angle. Looking ahead to travel, spending time with grandchildren and pottering in the garden used to be wonderful for seniors who retired at 65 and passed on by the time they reached 70. Now retirement comes along at 55 and may last 40 years or more. Without a crystal ball, who knows if any amount of money invested today will last until 2050?

If, instead, we look at a long term life style choice, our options remain open. For one person, working until 75 makes sense. If you love your work and are enjoying the challenges and camaraderie of the workplace, why leave? There will be a lack of experienced people over the next 15 years as boomers leave their current positions and I believe we will see those over 55 come into demand.

If you aren't enjoying your work, why are you there? As we hit our boomer years and beyond, life becomes a bit shorter and each day needs to give us a reason to get up in the morning. Or the morning arrives when we just don't – get up, that is.

There are options beyond becoming the primary caretaker for the grandchildren. Part-time work gives the freedom to pursue hobbies while still bringing in an income for special treats, from a dinner out to a cruise in the Caribbean . Starting your own business can bring both challenges and passion while creating a legacy for the children.

Look beyond the commercials on TV – there are interesting choices and we have a lot of years to explore them.

 

 




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