Money: Older Canadians reinvent themselves as 'seniorpreneurs' — in hopes it'll pay off - PressFrom - Canada

Money Older Canadians reinvent themselves as 'seniorpreneurs' — in hopes it'll pay off

11:51  20 september  2019
11:51  20 september  2019 Source:

Canada earns its first World Cup victory in 17 years by beating Senegal

Canada earns its first World Cup victory in 17 years by beating Senegal DONGGUAN, China — Canada's men's basketball team finally has a World Cup victory — and some positive momentum in a FIBA World Cup tournament that had been a non-stop narrative of disappointment. Cory Joseph will take it. "It's always good when there's a little bit of light at the end of the tunnel, that's always good," the Sacramento Kings guard said. Two nights after a heartbroken Joseph looked like he wanted to hop the next plane home, he poured in 24 points — 11 of them in the third quarter — to lift Canada to an 82-60 victory over Senegal for the Canadians' first World Cup victory in 17 years.

The Seniorpreneur is for people who have started a business later in life, or are considering it . We showcase current Seniorpreneurs , provide resources to help you. The. Seniorpreneur . You are never too old to start a business. Learn More.

Malls are reinventing themselves at a time when stores are closing and more consumers are shopping online. It 's an example of how malls are reinventing themselves with attractions and experiences beyond shopping. "I suspect that there's only a handful that will pull that off ,'' he says.

a group of people posing for the camera: Senior entrepreneur Tom Gibson, with sons Daryl Gibson, left, and Kyle Gibson, right, show off a prototype of their portable HavlarGo safe.© Jacqueline Hansen/CBC Senior entrepreneur Tom Gibson, with sons Daryl Gibson, left, and Kyle Gibson, right, show off a prototype of their portable HavlarGo safe. 'Seniorpreneurs' are part of a quickly growing group of older Canadians who are choosing to work beyond the traditional retirement age of 65 — some as a financial necessity, others because they simply aren't ready to call it quits.

A pilot program specifically designed for senior entrepreneurs in Oshawa, Ont., tested the waters to see whether Canadian baby boomers not only want to keep working but also desire to be their own bosses.

The answer, according to program creator Pramilla Ramdahani, is a resounding yes.

'There is more to do': Trudeau boasts of triumphs, worries about polarization

'There is more to do': Trudeau boasts of triumphs, worries about polarization OTTAWA — Justin Trudeau likes to warm up for an uphill election contest by literally climbing uphill. In the 2015 campaign, as he attempted to vault his third-place party into the lead, the Liberal leader took time out to tackle the Grouse Grind, the gruelling 2.9-kilometre trail up the steep face of a mountain overlooking Vancouver. He managed to scale "Mother Nature's StairMaster" in 54 minutes and 55 seconds, well under the average 90 minutes. He left some sweating reporters, photographers and assorted followers in his dust — and did the same a few weeks later to his older rivals Stephen Harper and Tom Mulcair on election day.

The Seniorpreneurs . 461 likes · 3 talking about this. We're building a community for aspiring older entrepreneurs. After receiving her master's, Lorna Prendergast hopes more seniors are encouraged to study. The artificial construct of retirement is being swept away as Boomers redefine and reinvent the stage of life after work and career. And it means thinking about work in different ways.”

SeniorPreneurs - The Next Step. Monday, 25 April 2011. Response from Federal Candidates. for Canadians suffering from dementia. To effectively provide this care it will be. vital to have a Long-term unemployment is getting old . At a recent Orlando job fair, more than 2,000 showed up to apply

"How do we finance this new and growing sector, with so many talented ideas that bring a lifetime of skills to the table?" said Ramdahani.

Ramdahani launched the Seniorpreneur Program 4 Innovation, Creativity, and Entrepreneurship, or SPICE, and received 75 applications for the 60 positions it offered in its first cohort in 2018-19.

Ramdahani says ageism was a big factor in creating a seniors-specific program. She says nearly all of the pilot participants identified ageism in the workplace or in applying for jobs as part of their reasoning for looking for something else.

"Hence, they really want to create their own [jobs]," said Ramdahani.

According to Statistics Canada, nearly 15 per cent of Canadians 65 years and older are still in the workforce, compared to around 6 per cent 20 years ago — and their entrepreneurial spirits are strong.

‘It’s great news’: Burnaby firefighters locate final two Canadians missing in Bahamas

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As a result, it appears that many Canadians 50 plus have enormous health, education, lifelong learning, and ‘productive longevity’ challenges. Instead, William Shatner, a speaker, author and a seniorpreneur ( senior entrepreneur or small business owner) is presenly working on a “Catch Me

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Nearly half of small business owners are baby boomers, according to a new online poll by Ipsos commissioned by RBC, conducted between June 21 and June 24, 2019. That's almost twice the rate of business ownership than there is among millennials.

For some Canadians, retiring at age 65 isn't a reality, simply because of a lack of pension or savings. A 2018 survey by Sun Life Financial even found that a quarter of retired Canadians are still in debt in their golden years.

Canadians saving less

Some future retirees may continue to be short on savings, as Statistics Canada data shows that the household savings rate has fallen from a high of 21.6 per cent of net disposable income in 1982, to 1.7 per cent in the second quarter of 2019.

Lower interest rates could be one of the reasons for saving less, according to BMO Capital Markets economist Robert Kavcic, because the returns on savings are smaller and borrowing at low rates is tempting.

Debt-to-income picture improved slightly in 2nd quarter

Debt-to-income picture improved slightly in 2nd quarter Canadians took on slightly less new debt last quarter, but they still owe $1.77 for every $1 they earned, according to Statistics Canada's latest national balance sheet. The debt-to-income ratio lowered by around half a percentage point from the first quarter of 2019, from 177.54 per cent to 177.1 per cent. It was the third consecutive quarterly decline, as income grew slightly faster than debt. Household disposable income increased 3.4 per cent since the third quarter of 2018, while household credit market debt grew 2.8 per cent. Despite the improvement in earnings, the total debt owed by Canadians is still growing.

“ It 's about getting people to come up with their own solutions, and everyone else is there to help them out,” said From vegan ice cream (also gluten-free) created in Malden, to pay -what-you-can yoga in Lawrence “ It ’s much more important than skimming the cream of the intelligentsia, which the highly

And how many 60-year- old even think of themselves as ‘ seniors ’ in retirement these days? Overseas research has found seniorpreneurs are more capable of starting and managing a venture Its particularly suits older people leaving the workforce now – or a few years out of it – before work

"I think everybody that's investing now for retirement needs to be ratcheting down their return expectations and what a balanced portfolio is going to give you going forward over the next 10, 15, or 20 years" said Kavcic.

Bill VanGorder, who's 76, knew he would need to rely on his savings for retirement, as he worked for charities and not-for-profits throughout his life and didn't have a guaranteed pension. However, he says the 2008 financial crisis wiped out about half of his savings.

"It's never really recovered for those of us who were invested at that time," said VanGorder.

Fortunately, VanGorder is able to supplement his savings with a company he started to sell and distribute Nordic walking poles in Atlantic Canada, as well as teach lessons.

"The extra income is not only helpful but necessary," said VanGorder, owner of Nordic Walking Nova Scotia.

a woman smiling for the camera: Pramilla Ramdahani hosted the SPICE program out of the Community Innovation Lab in Oshawa, Ont.© Greg Bruce/CBC Pramilla Ramdahani hosted the SPICE program out of the Community Innovation Lab in Oshawa, Ont.

VanGorder also enjoys the challenges involved with learning new skills, such as online marketing and sales.

How segregated funds can help protect your nest egg in a volatile market

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Here are 10 companies that reinvented themselves from HowStuffWorks. In its prime, it chews up the competition, but if it dares to sit still for too long, it dies. Some of the world's most profitable and enduring companies have achieved their long track record of success by constantly reinventing

"If you had told me 20 years ago that somebody of my age would be running an online business and doing so much social networking sales as we do, well, I wouldn't have known what you were talking about actually," laughed VanGorder.

Staying active and relevant is why 65-year-old Tom Gibson took part in Ramdahani's entrepreneur program for seniors in Oshawa.

Gibson wanted help as he and his two sons developed a business to sell portable safes.

Their HavlarGo safes would provide athletes, parents, and others on the go with a way to secure their valuables if they need to leave them unattended. For example, a baseball player could put their phone and wallet in the small safe, and use the tether to secure it to the bench or dugout while they play.

"I always had that kind of entrepreneurial flair, but I never really had the opportunity. I could see that my sons had it in them as well, and I thought it was a flame that should be nurtured — let's not ignore this," said Gibson, while at the studio of Toronto firm West&SOCIAL, the production company creating a product video for Havlar's upcoming crowdfunding campaign.

Gibson has no plans to retire anytime soon, even though he has a small pension from previous jobs. He is also still working full-time as a business consultant, which helps him contribute to funding the new family business.

"It's about staying engaged. It's about being creative. It's about working with family and friends to do something that hasn't been done before," said Gibson.

Funding gap for senior entrepreneurs

Through the first round of the seniors' entrepreneur program, Ramdahani found a massive hole in terms of funding to support the senior entrepreneurs, including limited grants and loans for their businesses.

"There is zero support," said Ramdahani.

She wants the next federal government to prioritize funding for seniors' entrepreneurial endeavours, and she hopes to secure other private funding as well to help her expand the SPICE program from 60 participants to 1,000 over three years.

"They have been sitting on these ideas for about 30 to 40 years, so now is the time for them to unleash," said Ramdahani.

Canada beats Dominican Republic, advances to semifinals at FIBA Women's AmeriCup .
SAN JUAN, Puerto Rico — Bridget Carleton had 15 points and Kayla Alexander added 11 points and 10 rebounds as Canada beat the Dominican Republic 78-50 on Thursday in FIBA Women's AmeriCup play. Jamie Scott contributed 14 points and six boards for the Canadians (4-0), who will enter their semifinal matchup against Brazil as the No. 1 seed from Group A. "Obviously it was good to finish pool play with a win and finish 4-0 heading into the semifinals," said Carleton. "I think everyone contributed and we went through a bunch of different things in preparation for the semifinals."The Canadians jumped out to a 20-13 lead after one quarter and were up 15 by halftime.

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