Main

Demographics

October 24, 2021

Age a growing factor in workplace absenteeism: report

According to the most recent numbers, absenteeism rates in Canada have been rising over the past 10 years, jumping from roughly seven days lost per worker annually to more than 10 currently.

And much of this has to do with demographics, according to a recent study from the C.D. Howe Institute.

As the demographic weight of the population shifts from younger to older categories, reported sick days rise significantly, the report claims. For example, men ages 45 to 54 report an average of 1.3 more days lost due to illness than do males 35 to 44.

Age is not the only factor keeping people off the job, of course.

Over the past 25 years, the average number of days lost per year due to illness has remained largely unchanged among men but increased sharply among women. 

That's not that surprising when you consider that women are usually the principal caregiver for children and may take time off “sick” to look after them. As well, a higher proportion of women than men work part-time, skewing the numbers accordingly.

Continue reading »

October 18, 2021

Empty-nest syndrome may be a thing of the past

Once that last child is gone, parents often struggle with a profound sense of loss, not just because they miss the kids, but because their very identities have been significantly impacted, suggests psychologist Guy Winch.

But, rather than haunting their children's now uninhabited rooms, empty nesters are enjoying better social lives, traveling more frequently and have more financial freedom, a recent survey suggests.

As a whole, nine out of 10 empty nesters — defined as those whose children have permanently moved out of the home — indicated they're happy and look forward to more social and personal time now that the kids are gone. 

So much for the proverbial empty-nest syndrome. Other recent research indicates that, once that early sense of loneliness passes, parents tend to adjust quite nicely to a child-free household.

Rather than pining for soccer practice, empty nesters said they enjoy having more personal time (95%); lower grocery bills (91%); spending more time with their significant other or dating (85%); socializing with friends (80%); and no longer attending school-related functions (68%).

And they'd like this to be a permanent arrangement, it seems.

Continue reading »

October 16, 2021

Despite recent gains, women still feel overworked and underpaid: report

Ninety-three per cent of Canadian women business leaders feel they're paid less than their male counterparts and that image has more to do with their possible advancement compared to men, according to a new Randstad Canada survey.

Despite any recent gains, more than three quarters (77 per cent) believe women still need to work harder and put in longer hours than men to prove themselves, particularly in management and executive roles.

And while there's always lots of talk about family-friendly workplaces, 49 per cent feel that employers are increasingly leery of family-related absences among women employees and this has a significant impact on their advancement.

Continue reading »

October 09, 2021

Cheap flavoured tobacco is turning out to be a big money maker

An explosion of cheap, flavoured cigars in recent years has delivered a nice boost to cigar sales in North America and may be changing the demographics of cigar smoking.

Despite a four-year-old ban on flavoured cigarettes, more than half of Canadian high school students admit they’ve tried smoking some sort of flavoured tobacco within the past month, according to a new study.

Fruit- and candy-flavoured tobacco packaged in bright colours aimed at children-- flavours available include chocolate, mint, cherry, peach, and strawberry -- makes it easier for youth to become addicted to tobacco, warns Rob Cunningham, a senior policy analyst with the Canadian Cancer Society.

Cheap, flavoured, small cigars are marketed aggressively to young people and have resulted in high school kids being twice as likely as their older counterparts to pick up the habit, according to some estimates.

Continue reading »

October 07, 2021

Could you afford to live to be 100 years old?

Forget being retired for 20 or 25 years: How about something closer to 50 years?

Science fiction? Not necessarily. In fact, it could happen within our lifetimes, maintains Alex Zhavoronkov, the author of The Ageless Generation: How Advances in Biomedicine Will Transform the Global Economy.

There are several specific technology trends that will undoubtedly make us live significantly longer than our parents and grandparents, he claims. In fact, it's already happening.

Today, the average 65-year-old has an average life expectancy of 19 more years — approximately age 84. But half of all individuals live longer than the average life expectancy. In fact, one out of every four 65-year-olds will live past age 90, and one out of ten will live past age 95.

But that longevity comes at a price, the two primary concerns being declining health and the ability to create a sustainable retirement income that may need to last decades more than expected.

Continue reading »

October 01, 2021

How much would you spend to have a child?

How much would you spend for the chance to have a child?

Fertility treatments are an often expensive gamble but one that a growing number of would-be parents are willing to take -- in some cases, spending as much on family building as most people drop on a cruise or a car.

A single course of in vitro fertilization costs $4,500 to $8,000, plus $2,000 to $7,000 for required medication, the Financial Post reports. Donor sperm costs $3,000 to $4,500 for six inseminations.

A portion of the fees may be covered by medical insurance at work or provincial health care plans but, for the most part, you're on your own.

One Toronto couple recently spent $13,500 for one cycle of IVF, including drug costs; but the treatment  wasn't successful and they decided not to repeat it. Happily, after shelling out for six intrauterine insemination treatments at a total cost of $2,400, they're now pregnant.

Many others, of course, aren't so fortunate. For them, the struggle to have children can lead to strained relationships, depression, anxiety and very real financial hardship.

Continue reading »

September 18, 2021

Drop in numbers of super rich Canadians

It's a first-world problem, but still an interesting one. It turns out that the number of ultra-rich Canadians, people who have a net worth of $30 million, is shrinking, according to a recent study done by UBS and Wealth-X.

The number of super wealthy dropped to 4,980 in 2013 from 5,015 in 2012, according to the study. While there's been a 0.7 per cent drop between the numbers, it turns out that the ultra rich still account for a large amount of wealth, $595 billion US. Now that's a lot of dough between a small group of people.

Continue reading »

September 05, 2021

Longer life expectancy poses threat to pension plans: report

New figures confirm that life expectancy in Canada has increased — a trend that poses a threat for pension plan sponsors and, ultimately, for plan members.

According to updated mortality tables recently released by the Canadian Institute of Actuaries, the life expectancy of a 60-year-old male today has increased by 2.9 years — from 24.4 to 27.3 years — compared to pension mortality tables currently in use.

The life expectancy of a 60-year-old woman has increased by 2.7 years — from 26.7 to 29.4 years.

All of which is good news, of course, unless you're the one who has to figure out how to pay for those extra golden years.

Continue reading »

August 26, 2021

Canadians worry that aging boomers will overload health system

As the wave of baby boomers begin to retire, the strains of funding Canada’s health-care system will only grow over the next decade.

Combined with rising costs for most things in general, economists say health care spending, left unchecked, will become unsustainable.

So is it an wonder that so many Canadians worry about whether the country’s health system is ill-prepared to handle the needs of an aging population. 

Six in 10 Canadians lack confidence in the health system’s ability to care for Canada’s rapidly greying population, particularly those who already have experience with its approach to looking after seniors,  according to a recent study from the Canadian Medical Association.

Women, particularly those already caring for an elderly person, are among those least confident that hospitals and long-term care facilities can handle the demands of a population that's living longer than ever before.

Continue reading »

August 21, 2021

Who do you think should pay when you're out on a date?

Once upon a time, men made most of the money and non-traditional couples were hard to find. In an age of somewhat higher earnings for women and a more casual approach to dating, one question remains. 

Who should pay for dinner on that all important first date? And what about the ones that follow?

Earlier this year, Learnvest surveyed over 2,000 men and women, and found that the answer differs not only between sexes but significantly by age.

When asked who should pick up the cheque on a first date, for instance, 59% of total respondents said that the man should always pay ... unless the woman has asked him out.

Continue reading »

advertisement

Gordon PowersGordon Powers

A long-time fund company executive, Gordon Powers now heads up the Affinity Group, a financial services consulting firm. Gordon was a personal finance columnist for the Globe & Mail for many years, has taught retirement planning...