On scams and fear of starving in retirement

On scams and fear of starving in retirement

John Oliver is amazing and it is the reason why HBO hasn’t canned him, despite the fact he stirs up a lot of legal drama. He does to a lot of great public service segments and most are well worth watching. Here is a show he recently did on pig butchering scams:

Now, this is an important PSA for everyone because I think that a> yes, we – and by “we” I mean “everybody,” including me – are prone to getting scammed; b> we have no idea how far the rabbit hole goes with organized crime getting in on it; and c> how important it is to come forward and tell people about how easy it is to get scammed. It’s incredibly embarrassing to admit that it has happened to you but it is so important to let others know. Forewarned is forearmed, after all!

But I think what struck me in the comments section were people who said, “Can you imagine having enough money in the first place that you could lose $350,000!” followed by, “Interesting to see this comment!! I was like “wow, I can barely afford my rent, no savings for a rainy day and they’re losing more money than I can save in 4 lifetimes!!”

I automatically juxtaposed these comments to the hysterical headlines of “CANADIANS BELIEVE THAT YOU NEED OVER ONE MILLION DOLLARS TO RETIRE*” that has plagued Canadian media in the past year. This lead to a bunch of rebuttals including from one of Canada’s most adorable couples who retired early(ish) with “only” $300 000 in the bank.

The reality is that even though people are supposed to save for retirement, most of them don’t. Many people just live on the average amount of government benefits. So I thought it would be interesting if I calculated it up for a person who made minimum wage their entire lives but who worked until they were 65. This is both for the Canada Pension Plan (which we pay into) and Old Age Security (which is welfare for old people**).

They would get a total of $17658/pa or $1471.50 a month.

Since that number is under the $21624/pa cutoff for a single person for the Guaranteed Income Supplement, a single person working a minimum wage job could get up to $1065.47 on top of that CPP/OAS amount, bringing the grand total to $2536.97 a month or 30443.64/pa. It’s not a lavish lifestyle but it is definitely manageable, especially if you have some paid off real estate, social or co-op housing, live in a low-COLA area or have a bunch of roommates.


If you somehow also managed to save in a TFSA – let’s say, $100 000 total over your lifetime – you could probably also take out 4% tax free during your retirement that would also give you an extra $4000 a year that wouldn’t affect your benefits at all. Again, not a high-on-the-hog lifestyle but manageable.

OH? You don’t think someone who makes minimum wage could save $100000 over 30 years? I mean maybe not…but also it would only mean saving $1380 OR $115 a month in a TFSA at a 5% interest rate, which is not out of the realm of possibility, either.

We all know that this is over a long time span and programs come/go/and get cut by governments all of the time & the future is unknowable. While we tend towards the catastrophic, things can also get better if you are a good saver and/or make more money over your lifetime. They can also get worse if, say, you were a stay-at-home spouse with someone who died and left you nothing***. I think focusing on what you can control, today, is better than letting the panic freeze you into inaction or living your life in fear.

Naturally, this is all just a thought experiment. I am sure you could nitpick this example to death**** but it is an example of one particular scenario out of many and it’s just to show people that all is not lost if you don’t have a million dollars in the bank. I feel that it is counterproductive to push the ZOMG IF YOU DO NOT HAVE A MILLION DOLLARS YOU WILL HAVE TO EAT CAT FOOD narrative in a province where we seem to be ok with Welfare being $733 and Disability (ODSP) just $1308 a month.

Don’t let the bastards get you down.


*Depending on your demographic, according to this BMO survey.
**This is exactly what OAS and GIS are as it comes out of the current federal budget. If you want to watch your old, curmudgeonly uncle lose his goddamn mind at Thanksgiving, tell him that he is actually on welfare and stand back and watch the sparks fly!
***HASHTAG TRADWIFE.
****I put in 1975 as the birth year but the TFSA has only been around since 2009, par example.

The great enshittification

The great enshittification

So I went on vacation last week to an all-inclusive resort. I haven’t been to a AIR since I was pregnant with the youngest -13 years ago – but I have been on luxury cruises and have stayed in high end hotels. I am currently working on a post about that but, I did write a fair but honest Tripadvisor review… that was promptly throttled. It took 3 days to “approve” my review so now it is buried 3 pages back while 5-star reviews were automatically approved. The review appeared after I made a scathing post on facebook. As the kids would say: SUS.

I did a bit of digging and it seems that I am not the only one who has experienced this phenomenon. Apparently Tripadvisor now partners with brands and that gives them more control over the kind of ratings & rankings they receive. After years of having a community-built model that enshrined trust in the website, it is now just another pay-to-play platform that prioritizes business over transparency.

This speaks to the larger phenomenon of what Cory Doctorow calls the “enshittification” of the internet. All of the platforms we have grown up with and contributed to have now been raked over by capitalism and our data and our eyeballs are sold to the highest bidder. Etsy is now just a slum of drop-shipping, Reddit (which, like Spotify, has never turned a profit) is selling its communities to the highest bidder to mine for AI, and even Bandcamp has been recently bought out and is moving towards maximizing profit and minimizing payouts to artists.

This topic seems to be ramping up lately, so here are some interesting links:

“We’re at the end of a vast, multi-faceted con of internet users, where ultra-rich technologists tricked their customers into building their companies for free. And while the trade once seemed fair, it’s become apparent that these executives see users not as willing participants in some sort of fair exchange, but as veins of data to be exploitatively mined as many times as possible, given nothing in return other than access to a platform that may or may not work properly.” Are we watching the internet die?.

“Viewers may hardly see MrBeast having fun in his videos because he’s not actually having a good time. In podcasts, Donaldson tells hosts that he goes so hard, he won’t stop working until he burns out and isn’t able to do anything at all. With a laugh, he admits that he has a mental breakdown “every other week.” If he ever stops for a breather, he says, he gets depressed. MrBeast is so laser-focused on generating content on YouTube that he describes his personality as “YouTube.” He acknowledges that this brutal approach to videos, which has cratered many creators over the years, is not healthy. “People shouldn’t be like me. I don’t have a life, I don’t have a personality,” he said in a podcast recorded in 2023.” The end of the MrBeast era: Jimmy Donaldson warped YouTube in his image — but YouTube is warping him back.

“Everything used to work symbiotically. Then, those entities unceremoniously flipped to become extractors of the web, pulled up the digital drawbridge and never looked back. And all have been made significantly worse by doing this… They want your attention, intellectual labor and links (to them) all for free, but will not reciprocate even just your ideas if they’re external. They’re attention roach motels (traffic goes in, it does not come out). There is no ‘focus on the user’ any longer. Users like hyperlinks, which are internet lindy and a representation of our digital freedom: sharing what we want, with our online communities – links included. Personally I’ve witnessed this happen everywhere: my own links on social are shown to increasingly fewer followers, while posts without links do fine.” You aren’t upset enough about the war on hyperlinks: Our freedom to share links with our own digital communities has in many places already been taken from us.

This Apex Money post also has a link to two posts in r/professors that are a depressing read for anyone with kids. I have warned my own children about using AI for their schoolwork. But what is fascinating is that we have this happening:

Essay created with AI -> Essay run through AI detection scrubber before submission -> professors run essay through AI detection program AND AI detection scrubber detection program

Exhausting!

The Eldest has told me that some teachers have moved to only doing homework assignments in class, in pen, and submitted in person (not online) as they were experiencing so many ChatGPT submissions that it had become untenable.

Also, there is a great link to the Honest Broker in that post that I had also queued up to post here but is worth reading as well. The Rise of Dopamine Culture. I’ve seen it posted everywhere so it is definitely resonating with people.

I am still recovering from our trip – I don’t know if it is just a horrible reaction to mold or if it is something more serious like Legionnaires Disease (I wish I was kidding) but my breathing is horrible. If it doesn’t clear up by tomorrow I am off to the doctor’s. So much for our last HURRAH of a luxury vacation until the kids finish high school!

The formidable Vicki Robin

The formidable Vicki Robin

As I’ve mentioned before, I came across Your Money and Your Life when I was 18 and it’s steered my life in many ways. What a gift Vicki Robin continues to be to the world.

Building a functioning dam(n) for the river of horrors

Building a functioning dam(n) for the river of horrors

As we enter a US election year I have decided to reduce my exposure to online dialogue substantially. I don’t live in the US, I don’t vote there and if something is important I am sure The Americans* will tell me about it. The fact is, it is impossible to not know what is happening in the world today and there is a constant barrage of horrors to choose from. Yes, there is also goodness in the world but when ‘enragement is engagement’ the horrors are always top of the feed.

I have completely stopped going to my private Instagram account because it is non-stop horrors. Horrors I have no control over. Horrors I am not educated or have enough power to do anything about. I could spend most of my day educating myself about global politics and still never scratch the surface of knowledge about everything. It’s all too much.

I also don’t want to be ignorant of the events of the world. I do hit a news site for the biggest headlines and read the paper (yes, a physical national newspaper like an old person) once a week so I know what’s going on and I think that is about as much as I can handle. I am overwhelmed every time I hit a social media site and the feeds feel like a battlefield.

To me, it felt increasingly like everyone was just screaming into their own echo chambers. I think when everyone is terminally online, posting memes feels like activism. I, myself am guilty of this and only have recently been really taking a long, hard look at what feels good vs. what does good. I spent years setting the dopamine gun to STUN and quite frankly, it’s basically changed nothing except that my iPhone reminds me on Sunday mornings that I spend more time on it than I do with my kids each day.

One of the reasons why I don’t have comments turned on here is because I am horrifically addicted to feedback (and I love making new friends). Although many people assume that I don’t WANT feedback – oh I do – negative and positive! I want to mainline the comment sections of every website I go to, proving once and for all that my opinion is the best opinion (you can take the girl out of debating…). But realistically I have spent so many years doing this: on IRC & BBSs/usenet since 1994, to livejournal in 1999-2007, to all of the Meta properties until today (I have thankfully avoided tiktok so far…)**. I can’t even remember a fraction of those discussions and I don’t think I have changed the world in the slightest. If fighting on the internet with strangers had a longevity prize, I’d probably be up there with my 30 years of service (as an aside, the gift for 30 years of marriage is jewellery containing pearls: the internet would snicker at that relentlessly.). But when I look back on my life I don’t want that to my defining characteristic; my tombstone would probably say something dumb such as: THERE WAS AN ATTEMPT, TUCKER HAS LEFT THE CHAT or 404 LIFE NOT FOUND.

The reality is though that I just don’t have enough social media clout to make a difference. I used to work in social media and the first thing I did when I retired was shut twitter down. I loathe twitter. I don’t use my real name on facebook, I am cautious on Instagram and even on my posts I try to respect the privacy of my husband, children and our lives in general. Sure, I am not so dumb as to think that people couldn’t find me if they really wanted to – I am not in the witness protection program after all – but I try and keep some modicum of privacy. I also don’t think I am interesting enough to find, either. I admire my friends who have chosen different paths and create these hugely popular networks that have served them well – they have political clout! When they speak, people actually listen. But for the rest of us, all of the memes and hot takes and snarky political commentary is all shit for flowers: no one gives a rat’s arse what we think. In the grand attempt to turn the internet into one giant Speaker’s Corner, there are no more corners in which to hide from the constant barrage of opinions.

I just think that we need to actually reevaluate the way we engage with the systems of the world. I feel like we’ve gotten stuck in a feedback loop from the last decade which was all about “raising awareness.” You just shared post online and TA DA! You felt like you did your part and you didn’t even need to leave your house. But did making people aware of issues bring us anything more than pink vacuums at a markup? Probably not. In many cases as well, raising awareness does more harm than good. It made me wonder: am I posting because I think it will change things, or am I just posturing?

Don’t misunderstand me: this is not a treatise about bowing out of political life. Not at all. I just think that we should be cognizant on what we can change and what actions are effective at enacting change.

In my city, the turn out to vote for mayor and city council was 43.79%

In my province, the turnout for the last election was 43.53%

In Canada, the turnout for the last election was 62.2%

But this is all wrong, realistically. The government that has the most to do with our lives as citizens is our municipal government. They are responsible for every day things such as school boards, waste/recycling collection and road maintenance. We interact with our municipal public servants more than any other government representatives in the country***. This is followed by the province who is in charge of things such as healthcare, social welfare and highways. Then the federal government is responsible for the big things such as national defence, law, immigration and taxation. Of course, there is a wide amount of overlap between all levels of government but it’s shocking to me that people vote the least in elections that control more aspects of their daily lives.

But even then, many people I know don’t know that their elected representative’s main job is to represent you, the citizen, to their legislature.

I can’t remember any Civics lessons from school and most of what I have learned about the political process has come from working for the federal government and then extrapolating that to all levels of governance. But to come back to my original point: your MPs, MPPs, the Mayor of your city and the councillors probably don’t follow you on social media. The heads of departments or people who sit on committees don’t know you and they don’t know your opinions on issues: you need to tell them.

It is not enough to post memes and clapback to online trolls. It isn’t enough to comment on news articles and spread awareness for causes unless you have a HUGE following that ends up making your opinion trend. But that doesn’t mean we have to give up! I decided that this year would be the year of doing what DOES good instead of what FEELS good. Here is a (non-exhaustive) list of things that I have decided to do this year:

Stop posting about politics online: controversial, I know. I don’t want to constantly be under the watchful stare of the terminally online. I also don’t want to be terminally online. No one who is important**** reads my locked down posts so it’s really an echo chamber for the most part.

Stay informed: your representatives usually have mailing lists and websites. Go there first for info. I have now gotten into the habit of pointing people towards the incredibly detailed newsletter our city councillor puts out weekly when people get hysterical about the “lack of communication.” I remember one woman had an apartment building going up behind her house. The councillor actually took a team to FLYER the affected neighbours, posted repeated online about it on social media, and put it in the newsletter for a month. This woman was absolutely hysterical that “no one had told” her. But what more can politicians do? I feel like people expect an engraved invitation but let’s be honest: it’s up to us to stay informed as well.

Write elected officials: I have been writing emails to my officials and giving them my name and address and my opinion on things. Recently, our community was slated to have transitional housing occupy an old LTC that had been decommissioned. Of course, this cued a bunch of online fighting but hardly anyone went to the meeting or emailed the contact with their opinion. I wrote many, many people about how great it was that our community could use this building to house people…in a housing crisis.

Contact elected officials and ask them: email or call with questions or concerns on how they’ve voted and why. If they don’t get enough feedback from citizens, it could be difficult to gauge their temperatures on issues. I make sure they know how I feel.

Donate: CHANGE THE WORLD WITH THIS ONE TRICK! Honestly, we doubled some of our donations this year just because inflation and housing is just brutal for anyone who isn’t middle class or higher. My cousin is getting married this summer and she has asked people to make donations to the woman’s shelter where she is the ED. She is a middle-aged woman who doesn’t need gifts and who already owns a house. I think this is a brilliant solution!

Volunteer: this doesn’t even need to be a formal volunteer position. We help our elderly neighbour navigate technology. I see people offering to run errands for sick neighbours & shoveling walkways for the elderly all of the time in my neighbourhood group. The community association is constantly looking for people to help with events and other activities.

Sign up to work at a polling station during an election: I have done this before. It is an extremely long, gruelling day where you don’t get a break. You will meet kind people, but you will also get people who call you a fascist for asking for ID. It is really good insight into the process, and I did learn a lot.

Protest: there are so many ways to protest from boycotts to physically going to a rally. I feel like shopping in your community and buying products from artisans instead of dropshippers on amazon are forms of protest as well. To sound cliché: we do vote with our dollars. I know none of us are perfect and some people just don’t have as many options but we need to support our communities if we want to keep them.

People often believe a dam is designed to completely stop water from moving. But often it is just good water management for the purpose of generating electricity, preventing floods and providing communities with water. I don’t want to eliminate news and political engagement but I just want to make it manageable for me and targeted in ways that make it a net benefit, not just a feel-good moment where I click share, wipe my hands, and move on with my day.


*These are my Americans, get your own
**I am ancient and from the Beforetimes
***Yes, I live in the capital and see more federal public servants than not but let’s be reasonable
****You are important to me! Just, not, like, the world at large.

9 things I have read this week

9 things I have read this week

Winter sport season continues to be chaotic as we head into the second month of ski instructor and skating rink jobs for The Eldest and snowboarding lessons and Roller Derby for The Youngest. Add in our PWHL season tickets (and the fact that I am watching ALL the games of this inaugural season!) and we are happily busy. I have no idea why but in November I always say to the family, “we will consider X thing when we are less busy in the new year,” forgetting that we are usually slammed until The Eldest’s birthday in March. Note to self: we are never less busy in the new year.

I drove for the first time in 7 months after the horrific broken foot in June followed by two surgeries. I will admit that most of that has been laziness (and not having many places to go) combined with the snow/ice not being a great time to head out and about when you have a motor neuron disease. But it is, in fact, just like riding a bicycle (“yeah, if the bicycle weighed ton and could drive at high speeds,” The Youngest smugly pointed out. I laughed) and I look forward to getting out more. At any rate, upwards and onwards with the links:

Yes, the people who are on the lower end of income are suffering. No one is trying to say otherwise. But it’s disingenuous to claim that everything is horrible when, in fact, things are pretty good for the majority of people. I think it’s du rigeur to complain about generational divides – and algorithms certainly love it – but while there are definitely challenges, not everything is bleak. Young people are doing better financially than you think.

I know I sound like an old man who is screaming at the clouds but I remain convinced that “little treat” culture is not getting people to look at the big picture & it looks like it’s definitely helping corporations with their earnings. Little luxuries are driving consumer spending.

Having watched my friends go through caring for loved ones in the past couple of years, one thing has become abundantly clear: in the LTC environment, if you do not have someone advocating for you and checking up on you regularly, you will fall through the cracks. It absolutely terrifies me and I worry about the future – and money won’t save you, a person who cares for your wellbeing, will. Shrinking family sizes may change our experiences with aging.

“Kevin Kelly once made the point that if you want to know what lower-income groups will aspire to spend their money on in the future, look at what higher-income groups do today. European vacations were once the exclusive playground of the rich. Then they trickled down. Same with college, investing in the stock market, two-car households, lawns, walk-in closets, and six-burner stoves – what was once a luxury of the rich became standards of the masses.” A few thoughts on spending money.

“I am glad I’m getting to see the papers I mentioned at the beginning. They are shocking, but Truth is good. If they are true, I want to know. For example, if it’s true that there are IQ differences in races, then we should know, because our democracy and capitalism are not designed for that. They’re designed for a world where anybody can do anything if they only try hard enough…Apparently, TikTok is limited to 40 minutes a day in China and is focused on educational and patriotic content, while the West receives all the most addictive content without limits.” A very divisive article with some good questions: Who owns the megaphone?.

Following up to last week’s link post is this article on how to divest yourself from the feelings of others, “it’s a fool’s errand to make your sense of feeling OK dependent on knowing that everyone around you is feeling OK. Taken at face value, the information that someone is upset because you’re not doing what they wanted you to do is just that: a report on the state of their emotional weather.” Allow people their problems.

I always enjoy the things that Karsten writes because unlike some people (*cough* me) he really tackles the numbers. Here is one of two posts on whether or not bonds beat stocks (next one is out next week). But I think the mindblowing thing I learned was how Canada is the only country that historically topped the US for the safety of the 4% rule. I am sorry, WHAT? I suspect this has to do with the fact we have oligarchies that many Canadians are forced to interact with daily. I am open to all other theories, though! 🤔

“[T]hat said, something striking happened once the pandemic eased. For the first time in a decade, cash payments rose—admittedly only by 7 per cent, but bucking the longer-term trend. Why? UK Finance cites anecdotal evidence that, in a cost-of-living crisis and with inflation for a while into double figures, people were finding it easier to manage their money by paying in cash.” The end of money?

When Mr. Tucker wanted to move to the country and farm when we were newly married, a family member said to us, “yeah, well that’s just a dream, it’s not reality!” I was really upset about it and was relaying a story to a friend, sad about the lack of support. This friend turned to me and said, “yeah. That is the whole point of dreaming! To wish for something different and try and make it happen!” Naturally, we chose a different path but that friend’s comment stuck with me: it’s ok to dream! It doesn’t mean dreams can’t change. It’s ok to give up on your dreams.

Stay warm out there, kids!

What’s the definition of a good life?

What’s the definition of a good life?


A thrift store haul from last year

My Dad loves to shop sales. He gets up at the crack of dawn on the days of the week the various grocery sales flyers come out. He is also generally the first person at the store when they open the doors. My Dad brings coffee for cashiers, knows about their lives and will remember if they need something picked up when he is on his weekly bargain-hunting trips.
He has done this all of my life. I remember being 7-years-old and him handing me cash to buy cases of sale pop because there was a per person limit. I hated that as a kid but I did love pop so I dutifully went through the cash knowing I wouldn’t even get pop if I didn’t help buy it on sale.

I suspect that he got it from his mother who was fastidious and organized but by all measures, she was a hoarder. She grew up super poor during the depression and was absolutely terrified that we would go through another one, so she had shelves full of soaps, canned food and other household goods. She also had multiple freezers full of butter, milk and meat that could probably have carried all of her 3 kids, their spouses and the 9 grandchildren through another depression. She wasn’t cheap though, the gifts flowed. One of my favourite times of year was when her and my grandfather would come back in the spring from their condo in Florida bearing gifts for all the grandkids. People express their relationship with money in the wildest of ways. For my grandmother it was to hoard the necessities of life and THEN spend lavishly on those she loved.

After my parents divorced, my father didn’t have a lot of stable places to live. He lived with my grandparents for a bit, a couple of girlfriends on-and-off, a trailer with another couple, a house full of bachelors at one point and then when I was 17 got remarried (and divorced, and remarried…and divorced*). He is now retired, in a stable relationship for over 17 years and just living his life meeting up with other retired colleagues for coffee, playing pool and grabbing beers with friends or visiting us. When he visits he ALWAYS brings food and treats for the kids because he is “just trying to help” us out. This is his idea of a good life.

It used to perplex me for a long time that a man who had a good pension and didn’t owe a dime was so obsessed with saving money via grocery sales. My Dad could probably eat out every night of the week and never ever run out of money. Instead, he rarely eats a meal out and he won’t pay full price for anything! It also makes no logical sense to drive to 8 different stores on 2-3 days of the week only to save the same amount in food dollars. It took me a long time to figure it out, but I did figure it out:

He enjoys it.

He enjoys shopping for sales.

IT’S HIS HOBBY!

Sure, when I was a kid it was probably a necessity but eventually he managed to build a career, get promoted and save a bunch of money. So even when he didn’t need to shop for sales, at that point it was so ingrained in his character and such a big part of his weekly routine (especially when he retired) that he kept at it. He brings the woman at Tim Hortons her favourite meats when they go on sale because he loves to share his finds. He brings us food because it makes him feel good to bring his grandkids cases of pop, some chips and cookies because he knows that we never buy it (although, in recent years I’ve pushed him into searching for avocadoes and peppers, too!). Every week, and I mean EVERY WEEK the day before the flyers come out he calls me and asks, “Is there anything you need?” (spoiler: there is never anything we need)

Figuring out my Dad’s motivation got me to thinking. Why have we associated a good life with spending money? There is this unspoken rule that you have to enjoy travel, eating out at fancy restaurants, the occasional luxury good – and god forbid you don’t think a $7 coffee is worth the money! Why, you are just depriving yourself! I would call it a problem if my Dad was so cheap that it was making himself and others miserable but it isn’t. My Dad is a very generous person. He just enjoys living his simple life and hanging out with friends and family and his hobby just happens to be shopping for sale food. Sure, it’s not an exotic life of adventure but he’s happy, and really isn’t that what it is all about? In telling people what is generally considered a “good life” are we inadvertently pushing our values on them?

I try to think of it like this: I love thrifting. The idea of sifting through shelves and shelves of housewares, reading the titles of books that are in no order whatsoever, and trying to find the diamond in the rough in a pile of florescent 80s stirrup pants fills me with absolute joy. I will happily spend a day hitting bunch of thrift stores (in my neighbourhood there are 3 within spitting distance) trying to find buried treasure, and to me, that is a banger of a day! Sure, I love the environmental and financial aspects of thrifting but the real pleasure is in the hunt. I pop a Claritin, charge my scooter, grab a bottle of water and off I go on the search for deals. Heck, I have friends who will also thrift with me** and The Americans*** and I often share our best thrift finds in the group chat to the OOOOHs and AHHHHs of the others. If there was competitive thrifting, my friends and I would all medal in the sport.

But I would be hard pressed to argue that thrifting actually saves me a ton money and it definitely doesn’t save time. But I enjoy it much more than popping into a store and buying whatever I need off the rack. Don’t get me wrong – there is a time and a place for shopping for new goods – but it’s not something I actually enjoy. I look forward to it like I look forward to blood work: sure, I recognize that it needs to get done but I won’t be happy about it. Don’t think that I also am rejecting branded goods, either: I have a fairly decent collection of Fluevogs that I love dearly. I just dread the concept of hitting the mall and trying on a bunch of clothes at stores all day long – the kind of day, I should add, that my kids find RIVETING.

But often thrifting and sale shopping for groceries gets categorized as something people associate with a poverty mindset. When we talk about saving money these are some of the more popular things that get thrown into the ring as examples of ways to save and it’s become du rigeur to tell people they don’t have to be shamed into doing those things (that they may not enjoy) just to save money. I get it – unlike the 90s and 00s, shame doesn’t sell as well as it used to. A kinder, gentler approach works better. So, it’s one of the things that “money experts” looooooove to shit all over. “I am not saying you have to use coupons and save $2 on a case of pop,” they sputter. But let’s discuss the elephant in the room: when I was a kid that $2 meant getting pop vs. not getting pop. If you don’t have to make those kinds of decisions and have never had to – congratulations! But there is a reason that most of these gurus focus on upper/middle-class individuals – those are the people who will buy books and courses on how to fix their money problems, which is how these money experts make their money. But even if people could probably benefit from some of these frugal skills they don’t want to, because it would challenge their identity as upper/middle-class individuals; it would make them feel poor. They want to buy a book or a course that tells them that they can have everything without deprivation. But for the most indebted, that is rarely the case. Conversely, truly poor people are too busy deciding whether or not to pay the electricity or the phone bill than to even consider taking a $300 course on how to live a “good life.” For them, every single dollar needs to be accounted for. In all fairness to these money experts as well, they probably feel unqualified to tackle the realities of the super poor – you can reduce your costs but you can’t eliminate them. You can’t budget if you have no money left to budget with.

As for me, I don’t like waste, and considering we have enough clothes to clothe the planet for the next 100 years, so every time I buy something from the thrift store I get giddy about how it’s one less thing going to the landfill. Is it making a HUGE difference? Probably not. But I enjoy it. I suspect my Dad gets the same excitement when he finds a 50% off roast to share with one of his friends – less food waste & people get to enjoy a hearty meal. While I will spend lavishly on the most incredible vacation imaginable (I never count my pennies when I travel – I do whatever the heck I want to!) I still can’t bring myself to pay full price for an LL Bean sweater knowing full well there will be piles of them filling the thrift stores once spring hits.

Entertainment, savings and saving things from the landfill? Sign me up for those hobbies. There are worse ones to have.


*His most expensive hobby, tbqh
**The best kind of friends
***These are my Americans, get your own

5 interesting things

5 interesting things


Skaters on the Rideau Canal

I have been focusing on reading a lot to catch up on all of my library books and subscriptions. Of course, there is also family time and playing the Witcher II and a good amount of time drinking tea and having conversations with Mr. Tucker. I don’t plan to keep to any schedule here but I do enjoy sharing what I’ve read and a variety of thoughts I have had on certain things. For example, I realized that I have been online for THIRTY YEARS and it’s funny that my original optimism has reversed-course and I find myself divesting from the online world. Perhaps that is a conversation for another time. Here are some things I read this weekend:

1 – The Prestige Recession, “The decline of the critic mirrors the decline of the mediums they cover. Music and film are industries whose relative cultural value has dipped, thus their critics’s cultural influence has plummeted. In realms like politics and the culture wars, however, critics are thriving. Where there’s power and money, critics can have influence and get paid. When the money and power dry up, the beat does too…Cultural criticism and contextualization aren’t going away. They’re being de-professionalized. They’re switching mediums. What was a grand(ish) vocation has been demoted to a hobby and another form of “content.” It feels inevitable. We’ve gotten so used to it by now.”

2 – I first heard about Neal’s Yard Dairy in the book, The Lost Supper by Montreal writer, Taras Gresco. I didn’t realize how firmly planted the place was in the counterculture of the past few decades, nor how important of a piece it played in bringing back a British food culture. Nicholas Saunders: the forgotten genius who changed British food. “The central question of Saunders’ life is what happens when you try to create an alternative and it becomes so successful that it is co-opted by other people into the dominant culture. It was a tension he was never quite able to resolve, except in a few small projects… The compulsion that made him treat the question of yoghurt production in the same way as the chemical composition of an ecstasy pill found its purest expression in things that were done solely for the fun of it.”

3 – Great, as soon as I build a gaming computer and get back into it I read, The Tremendous Yet Troubled State of Gaming in 2024. This is really for econ and gaming nerds. “There are several reasons behind the many layoffs detailed above, but the first may be the most important. It’s also the most overlooked and most counter-narrative: video game revenues are falling… A lot of the challenge here is economical. In addition to the aforementioned increases in costs per developer, the number of people needed to produce a AAA game have grown as publishers expand the scale and scope of their games —more and higher-fidelity cinematics with professional motion capture and vocal performances, greater environmental and enemy diversity, more thoughtful NPCs and side quests. The enormity of this effort is easy to measure, as is the output.” Clearly, this piece goes on to describe all of the likely challenges facing the industry.

Adjacent, but as for myself, I was shocked to learn that even though it’s been 15 years or so since I played a game, the prices for top-of-the-line games were still hovering around the $80 mark – which hasn’t really changed since the 90s. Moreover, I could play older games that I had missed over the years for a measly $1-$20 – and I am not a multi-player kind of gal. I get that people who have gamed over that period of time have probably finished all of the games they want to play, but even today I get *flash sales* for brand new games with great worlds, stories and graphics. I also recognize the sheer amount of titles being released probably dilutes potential customers in ways that were impossible in the 80s-00s.

4 – Advice from people who really started living when they found out they were dying (H/T to The New Escapologist). I have a love/hate with these sorts of articles. On the one hand: yes! Please go out and live your one wild and precious life! On the other hand, it’s much easier to explain your erratic behaviour of skydiving and mountaineering if you have a terminal diagnosis. Otherwise, people just think you are shirking your responsibilities as an adult. It would be amazing if we could reconcile the two things. Wouldn’t it be amazing if people could sell everything and travel for a year without getting the side eye and tsk tsks from their friends and family? Either way, this is good advice for the perfectly healthy as well: don’t delay, do what you love, enjoy every moment you can (except the painful ones, like the time in the dentist chair and the like).

“You get caught up in that world of work: pay your bills, eat dinner, sleep, repeat. But now I truly feel very different about money. What’s the point of earning, earning, earning if there’s no joy in your life? When I watch really power-driven people who want more and more, I want to tell them it’s the small things in life that are beautiful. We live in quite a toxic world, but it’s your choice what you expose yourself to. I get up, I walk my dog, I listen to every single bird that chirps. I’m grateful for that.”

5 – I came across this recently (at least, the short Instagram post that inspired it) and it has really resonated. I have stepped away from some social media lately in an effort to reduce my exposure to things that make me upset but that I have no control over. Instead, I am focusing on doing a daily photo (#DITL) on the Post Morbus Instagram. If people want to throw hands in their own comments sections, Imma LET THEM.

Anyway, she has three parts to this theory that I find is so profoundly helpful to me, especially as I revisit my investment into family, friends, acquaintances AND online interactions:

A – Detachment: just let people do what they are going to do & detach yourself from an emotional response.
B – Let people fail: let them learn and grow by not rescuing them.
C – Let them be themselves: don’t try and change people.

That is all for this Monday. I cannot believe that we are heading into February this week. I did end up cancelling my Globe and Mail Saturday paper subscription (ugh. They made me call on a telephone and speak with a real human and everything!) but I kept the digital version. Naturally, this concluded with them charging me for both. Modern life is rubbish, indeed.

It’s beginning to look a lot like…tax season

It’s beginning to look a lot like…tax season

It’s winter sports season here at The Mullet*. Our front hall is jam-packed with snowboard and skiing gear plus my scooter for when we go and see the PWHL games. Mitts, and hats, and a variety of winter and waterproof gear…oh my! If you are going to stay in Canada for the winter, you really have to embrace Canadian winters.

I had to print out a physical schedule because between the hockey games, the Eldest’s two jobs, and the activities for the youngest, we had way too much to remember off the top of our heads. The actual ice and snow sport season only really runs from January – March (until March break), so 8-10 weeks. But the season feels long because we are super busy with the regular lessons and sports of the year as well. At least, the pure chaos is interspersed with books and a roaring fireplace.

Speaking of books, I have been reading non-stop lately. I finished What we Knew (mentioned in Morgan Housel’s book, Same as Ever) in less than 24 hours. While I generally avoid WWII stuff unless it’s a Ken Burns offering (and I certainly avoid fiction based in that era) I do love stories and storytelling from a first person perspective. WWK is based on a study that spanned ten years in which they interviewed survivors from Germany – both Jews and non-Jews as well as officers who were in the German army. It’s a fascinating book of detailed – and varied – experiences and I highly recommend it. I am now onto The Great Depression (also mentioned in that book). It’s a series of journal entries by a lawyer who lived through the Great Depression and who tried to make sense of the economy while it was happening. Both are Interlibrary Loans so I needed to finish them up before they are due. So I spent yesterday just reading and avoiding the internet entirely. I’m not mad about it.

Link (yes, singular)
One article today due to the doubling-down on book reading recently: Judging by the people around me, chances are they won’t have even close to the “recommended” amounts of retirement savings suggested by the financial industry. I just don’t see the majority of people sitting on millions when they have started late, feel more comfortable working with FAs who take a percentage, and prefer low-risk investments. Still, looking at history they may be ok, anyway. Boomers: the retirement crisis that wasn’t.

We’ve achieved our goals 6 months early!
In January 2021 I wrote a post called The Three Year Plan. I went back today and realized that it was really the 2.5 year plan! We managed to do all of the things on the list: pay off our mortgage, max my RDSP, fully fund the kids RESPs (ongoing because there is a yearly max for matched contributions), and we met our goal of how much we decided to invest in Mr. Tucker’s RRSP before he could retire. We met these goals last July.

I suppose the only addition here is that we are selling the condo. We hadn’t foreseen the drama there (you can’t anticipate everything). We only really kept it because a relative needed a place to go (…and no good deed goes unpunished). Until it sells though, we can’t have Mr. Tucker retire as the mortgage/condo fees come out of his pay while it is on the market. Otherwise, we are pretty set up & we won’t need to touch our investments for 15ish years. We will also have a good amount tucked away for emergencies, travel and future spending.

Drawdown plan
While I adore people who get down into the nitty gritty of the numbers, I am more of a lacklustre financial traveler: I aim my boat in the direction it needs to go in and adjust periodically. I don’t obsess about market timing, watching my investments like a hawk or the minutiae of planning my taxes perfectly. Should I? Maybe. But I just don’t want to be that person.

TFSAs vs. RRSPs**? We all know that the answer is, “ideally, both.” But for us the answer has been RRSPs. Why? Because Mr. Tucker’s plan is to retire early and so he will go from a high salary to no salary (the year after). So reducing that up front was the best case scenario, in my opinion.

The goal is to draw down the Basic Personal Amount (BPA) – which is the amount of money that you can make (or withdraw from an RRSP) without paying taxes – and then flip it into our TFSAs in the 20 years between when he stops working and when the government forces him to transfer his RRSP to a RRIF (Registered Retirement Income Fund) where he is forced to draw out a percentage every year. Because we didn’t have enough money to contribute to both the RRSP and the TFSA at the same time, we prioritized today’s tax burden.

Yes, we may take a hit on our investments (but we may gain as well) by doing this and the government will hold back 10% on the first $5000 and 20% on the next $10000 but we will see that as a tax refund the following year. Yes, I know refunds are not ideal but the goal is to drawdown the RRSP and then load up the TFSA so that when we are 71, we won’t have much left in the RRSPs for them to tax at 20%+. The money will keep growing in our TFSAs tax free over the years, and when we go to get our CPP/OAS at 65+ the withdrawals from our TFSAs will also be tax-free.

My opinion is that the TFSA is a much better savings vehicle in general unless you are a high-income earner. If I made under the $111,733 I would definitely prioritize the TFSA followed by the FHSA (the First Time Homebuyers Savings Account) – regardless of whether or not you want to purchase a home. Why? Because you get a tax credit for money you put into a FHSA so it reduces your taxes today. On top of that, then it can sit in investments for 15 years making money. If you go to buy a home with it you get to withdraw all the deposits and interest tax free but if you don’t end up buying a home, you can transfer the money to an RRSP without affecting your RRSP contribution room.

The other fun game would be to mix it up. If you make $65000 you may want to contribute $9133 to an RRSP to bring your taxable income down to the lower tax bracket of $55867 netting yourself a cool $1872.27 back on your tax return, as you don’t have to pay the marginal tax rate of 20.5% on that $9133. Then you can toss that into your TFSA, getting you the best of both worlds.

It’s always fun to play with the numbers and see what the best option would be for your own particular situation. Since it is the beginning of the year AND we are about to head into Tax Season, maybe it’s time to plan for the upcoming year? Here are the tax brackets for 2024:


*To see the front and to see the back of my house is to know why we call our house The Mullet
** I am going to assume that everyone is familiar with both Tax Free Savings Accounts and the Registered Retirement Savings Program

A few things I have been reading

A few things I have been reading

My neck has been hurting a lot because I type on my laptop on a 100-year-old desk so I am constantly looking down. I could switch to writing on my gaming computer which is more ergonomically inclined but I am trying to compartmentalize my activities so everything doesn’t just bleed into a giant category called “time I have wasted today.”

I haven’t done a link post in a hot minute and so here are some things I have enjoyed reading in the last little while. Please note that I post interesting things that I may not completely agree with and that you may not, either. But we shouldn’t just read things we always agree with – that’s what algorithms are for!

The economy

Kyla Scanlon mentioned this tweet* in a recent video and to paraphrase, “we’ve gotten accustomed to servants bringing us things all of the time.” But all good things come to an end, and gone is the era of VC cash propping up unprofitable businesses in an attempt to be the last business standing when the smoke cleared. Workers have gained in the last year and a bit whether it’s by unionizing or in court cases designating them as employees, not as contractors. That means prices are going to rise.

Also, it absolutely FLOORS me that this only cost this man $125. Most of the world hasn’t eaten a meal like that in their lifetimes let alone on a random weekday. ZOMG “Qu’ils mangent de la brioche” already!

– Americans are better off than you think. I know it’s difficult to parse but we got 10 years of inflation in a short period of time. I think people would have managed better if we had a small increase every year vs. what happened last year.

– You don’t need everything you want: our expectations around money are all out of whack “Just because something doesn’t feel great doesn’t mean it’s fundamentally unfair. (Sometimes, the most unfair things are the ones that feel really great — as long as you’re on the right side of the trade.)” This is one of the better pieces out there discussing the vibesession.

I think it is important to remember that anyone under the median income is going to feel the squeeze of inflation more than those above it. For those who were struggling before, they’re absolutely tanked now. But people who have money and who saved money during the pandemic are spending like wildfire (although it’s slowing) and that’s why we are seeing a supply (low) and demand (high) scenario moving prices upwards.

Personal Finance

It’s funny because I have never not had a roommate. When I was a teenager I lived with 2 or more roommates and when I was in my twenties, 1 or more. Now I have a family and our useable living space is about 1500 square feet for four people and two dogs. In our old house, we had 1200sq ft, the kids shared a room and it was fine. We didn’t even use the backyard at the old place much: we went to the park every day instead and met up with other families in the neighbourhood.

I find most people I know who are younger than me and who don’t live with their parents do have 1 or 2 bedroom apartments just for themselves. Is it expectation or culture? Both? I feel like pre-WWII most people lived in small spaces with many family members and in the post-war era we have increasingly become accustomed to larger square footage per person. This has led to an increase in cars and urban sprawl (and 4000sq ft McMansions an hour away from where people work). I don’t have to answer to what can be done here but better public transit, more community stores vs big box stores, getting used to smaller spaces and more working from home are ideas off the top of my head.

– My mortgage payments are going up $2000 a month, “We feel helpless and angry. If we lived way beyond our means, that would be one thing. But it’s not like we did something radical. We wanted a family home, we made some sacrifices and we got a decent-sized place in a decent neighbourhood. Hard-working, middle-class people should be able to buy homes in their own country without cutting back their lifestyles to the bone.

Recently, the Bank of Canada announced that interest rates would stay at 4.5 per cent, the first time it has held steady in more than a year…which makes me wonder how long it will be before Canada does the same. That’s always in the back of my mind.”

This article was written in the spring of last year and then after that, The Bank of Canada raised the rates and they now sit at 5%.

OOF it would be so easy to tear apart every single decision this family made because there are some horrible ones. BUT I will not. Why? Because it’s easy to point fingers and point out all the issues but his problems are super common with many families. I put this squarely on the heads of the people who convinced this man to give up his reasonable apartment close to work in exchange for an hour-long commute and a $790000 mortgage on an $150000 income.

– I actually only follow one of these YouTubers and he is one of my least favourite of all the people I follow on this list of Canadian Personal Finance YouTubers. I actually follow a lot of people whose advice I find laughable but that’s because I don’t want to just follow people I agree with.

– I grew up with a similar quote in my house, which is “you have champagne tastes on a beer budget.” But I think everyone should read this piece Learning to like beer in a world full of champagne propaganda. “When you disconnect someone’s means from their lifestyle preferences, otherwise-befuddling choices begin to make sense. The rich person who drives the Accord? Well, their ability to make money is unrelated to their taste in automobiles. The person spending their meager paychecks on luxury travel and racking up credit card debt? Well, their choice of education and professional earning ability (or lack thereof) doesn’t really have anything to do with their preferences for First Class, does it? Credit cards are a little like steroids, in that way: They allow you entry to a world that you otherwise would be incapable of accessing on your own, which is why both are frowned upon but prevalent nonetheless.”

Health

– I quit therapy: As it turns out, you don’t have to always work on yourself.

– Truth be told: I have a natural light lamp AND I take vitamin D. I find it helps me exponentially in the winter but what if nobody has seasonal affective disorder? (if you’re anything like me, that got your back up but it is a good read)

Family and community

– I loved this piece: community and you can do your art? Yes, please! I quit a corporate job to become a crossing guard.

– “It feels like this capitalist trope. The idea that it’s better and more worthwhile to strip away any social or familial support and do it all on your own is a scam.” Why people struggle so much in the world’s richest country

– “From the outside, we are enacting the best practices of urban family resource management. With rising housing costs and changing demographics, multigenerational living has finally gained social acceptance. Advocates trumpet its economic and emotional benefits. Despite being so on trend, I don’t feel especially cool living with my mom. And even an hour from sunrise, I’m already exhausted.” Multigenerational living often makes sense but that doesn’t make it easy.

– I love thrifting and am a big proponent of Buy Nothing groups on facebook. It’s sad though that people still toss out fully functional things. I worked at a dump


*LOL what are they called now? Xposts? NAH. Xs? UGH.