Archives for June 20, 2020
Observations Saturday June 20 – lake level high but not as high as in previous years at freshet
Owners indicate the danger is in wind storms where the water can move over permanent walls and make its way towards homes.
Norm Gaumont – Vaseux Stewardship Group: “The water is up to everyone property and with the wind is actually eating away some of the lawns and the rock walls..”
The river south of dam at Oliver deemed not high with Vaseux Creek not a problem. The river channel to Osoyoos Lake is very high but designed and structured to take a fairly high volume of water in the Okanagan system.
The Regional District of Okanagan-Similkameen Emergency Operations Centre (RDOS EOC) is advising residents to take steps to protect their properties adjacent to Okanagan Lake, Skaha Lake and Vaseux Lake. Okanagan Lake has exceeded full pool and is vulnerable to significant rainfall that could impact shorelines, docks and beaches. Property owners should be aware of active weather changes including wind and rain events that could initiate a further rise in lake levels.
Okanagan Lake is expected to remain higher than normal well into the summer due to delayed snowmelt at higher elevations. The Okanagan River system connecting Okanagan Lake, Skaha Lake and Vaseux Lake is also expected to maintain higher than normal flows until conditions change.
“The biggest challenge for the next 100 days will be to take conversations offline, depoliticize everyday life and rediscover the shared humanity and solidarity that seemed to have been awoken in the pandemic early days.”
— Samuel Veissière, co-director, Culture, Mind and Brain Program at McGill University
I was thinking that next year I might run in the Boston Marathon with a goal to place in the top 3 overall. To reach that goal, and in light of the fact that I don’t normally run (anyone that knows me can attest to that) I won’t do any training or stick to any kind of plan. But I’m sure it will all work out, right?
Sounds like a pretty unrealistic goal with the lack of planning or preparation. Well, the idea of hitting your retirement goals without bothering to do any planning is equally inane. If your goal is to retire at age 60 with a $2 million nest egg, you need to put effort into creating a detailed plan on how you’ll get there.
Half of Canadians were within $200 of insolvency before COVID hit. And in the US, almost half of people aged 55 and over have nothing saved for retirement at all. A recent survey showed that 70 per cent of people had a greater fear of outliving their retirement savings than of dying.
Yet, with all of these very sobering statistics, very few are actually trying to create a plan to do something about it. I know that money is tight for many people right now but that is all the more reason to start working on a customized financial plan today.
In its simplest form, retirement planning can focus on saving a little more and spending a little less. But a real plan will focus on much more than that. What is surprising for many people though, is how much small changes now can affect their future quality of life.
Let’s look at a couple of examples to illustrate just that. Consider a 40-year old earning a $100,000 salary who plans to retire at age 60 and wants to make sure that her money lasts until at least age 90. We’ll assume she currently has $250,000 in savings and puts away $10,000 (or 10 per cent) of her income each year. For this example, we will also assume she has a typical balanced portfolio that earns six per cent per year on her equities and 1.5 per cent per year on her bond holdings.
Based on her current savings, $10k per year contributions and indexing of two per cent per year inflation, her retirement income starting at age 60 would be $43,200 per year. But what steps could be done to improve that sustainable income amount?
1) If she chose to increase her equity allocation by 10 per cent, her retirement income would increase to $49,200 per year.
2) If she were to increase her savings rate by $5,000 per year, her retirement income would jump up to $51,600 per year.
3) And if she were to delay her retirement from age 60 to age 65, her retirement income would substantially grow to $65,200 per year.
If she opted to do all three of the above changes, her retirement income would be over double at $90,300 per year. This doesn’t necessarily mean that she should make all three of the above changes to her plans, but instead it’s meant to illustrate how the retirement planning process works and how you can evaluate different changes to your current plans in order to alter your retirement outcome.
Although retirement plans might presently be challenged and face future stresses as well, there are plenty of steps that you can take now to adjust your strategies with great effect. The question is, are you going to make these changes “one day” or is this “day one” of working towards your new plan?
Oh, and my statement about running the Boston marathon was for illustrations purposes only!
This column is brought to you by Michelle Weisheit CFP, IG Wealth Management and presents general information only and is not a solicitation to buy or sell any investments. Please contact your own advisor for specific advice about your situation
A Picture of 50 years
Introducing some of the Scouting volunteers of Oliver from decades long past.
In the 1970s and 1980s Don Shippitt and Gail Blidook were instrumental in the leadership team of 1st Oliver Wolf Cub Pack, which had grown to two large Cub Packs in 1978. Blidook was carrying on a tradition begun by her Father, Harvey Skelton, who had spent many years as a volunteer in Oliver Scouting circles.
In the mythology of The Jungle Book, Shippitt was Akela, the leader of the Pack. Blidook was Raksha, the wolf who raised the mancub Mowgli as one of her own cubs.
The contribution made by Glenn Davies was on the administrative side, by serving on the Group Committee, for many years as Chair of the Group. These volunteers were responsible for budgeting, fundraising, registrations, and generally offering assistance to the Leaders when the Group participated in larger community based or district based activities.
Both Shippitt and Davies were honoured with Scouting Service Awards and 10-year Service Pins in recognition of their volunteer contributions. Davies moved on to the District level, where he found opportunities to assist at Camp Secrest, the Scout camp near Oliver. By the time he stepped away from Scouting, he had contributed more than 25 years as a volunteer.
In 1988, Davies was awarded a 10-year Service Pin and a Service Medal. This was followed one year later by a Medal of Merit, and in 1998 a 20-year Service Pin. While records for 1st Oliver Group are incomplete, we know that Davies also served briefly as Assistant Regional Commissioner. As with many other volunteers, his service has not been accurately recorded when he was involved with the Camp Properties Committee at the District level. With a small group of other adults he was responsible for keeping Camp Secrest available to a busy Scouting District. This included the performance of ongoing repairs and maintenance, down to ensuring an adequate supply of firewood.
The faces of Scouting have changed many times since the program came to the South Okanagan 110 years ago. The number of adults from Oliver who have donated their time to the community through Scouting is lengthy. This year we honour them all.
By Gerry Lamb
Photo courtesy Dan Roberts
This is a compelling example of extremely bad and very good fathers.
Rusty “cowered in the corner of a dirty, roach-infested death row cell in a South Carolina prison. His body curled in a fetal position, he seemed oblivious to the filth and stench around him.” He had been sentenced to death for murder.
Bob McAlister, deputy chief of staff to South Carolina’s governor, took a personal interest in Rusty. During visit after visit Rusty just stared blankly as Bob told him about the love of Jesus. He did not respond in any way. But one day he began to weep as Bob spoke to him. “On that day, Rusty Welborn, a pitiful man with murder and darkness behind him and his own death closing in ahead of him, gave his heart to Jesus.”
A few days later his cell was cleaned up and so was he. Rusty had renewed energy and a positive outlook. He was a new man. During the next five years of waiting on death row the two became fast friends. Rusty became like a son to Bob, giving this story another perspective on a unique Father’s Day.
Rusty had a terrible childhood and horrible teenage years. Throughout junior high he wore the same two ragged shirts and two pants. He was kicked out of home many times and also ran away often. He had never known love from anyone and was overwhelmed by the idea that God loved him. He was able to meet with the brother of the woman he had murdered and receive the forgiveness he so desperately wanted. Just before his execution he stated, “You know, the only thing I ever wanted was a home, Pap. Now I’m going to get one.”
Quotes are from Ed Young in “From Bad Beginnings to Happy Endings”