retirement.docx

1、retirementPlanning integral to retirementRetirees take up creative pursuits under Yee Hong Foundations Active Senior Program.Lying on a beach in a far-off land may no longer be a realistic dream for retirement.Even in a downward spiralling economy, a comfortable retirement in Hong Kong is more about

2、 a steady amount of wealth and financial planning.Jacob Chan is the director of Yang Memorial Methodist Social Service, a multi-disciplinary social-service agency that targets groups of elderly, young, disabled persons and the family as a whole.He said the government redefined the meaning of aging w

3、ith the introduction of the Mandatory Provident Fund (MPF), which delays the retirement age from 60 to 65 years.According to the Census and Statistics Department, the unemployment rate among people aged 50 or above in 1992 was 2.5 percent. By 2004, it had climbed to 14.6 percent.Inspired by these st

4、atistics and the fact that many seniors often consider starting their own business but lacked the necessary experience and training, the organization launched a Business Start-up Project for Senior Citizens to cooperate with a related training institution to develop training for the participants.Wit

5、h the effect of the baby boomers and with the longevity of the population in general, retirement no longer means an end to work but it could define as the time of a turning point, a chance to recharge and then reinvent oneself, Chan said.His organization is not alone in focusing on the well-being of

6、 seniors in Hong Kong.Timothy Ma is the executive director of Senior Citizen Home Safety Association, a Hong Kong-based NGO that offers services to more than 63,000 elders requiring constant care.Ma underscored that the MPF is not enough to provide for a comfortable retirement especially when some c

7、ompanies do not provide this option for elderly workers. For these individuals, said Ma, retirement is not defined by a company policy, but rather, retirement means to stop working as a full-time worker at an agency.Many seniors find that approaching a certain age in their careers allows them the fr

8、eedom to start volunteering with the community and doing activities a busy career did not allow them time to do.Retirement is the start of another career life if you keep on working on other companies, he said.As such, for his organization, the most crucial and major sustaining factor to keeping ret

9、irees with direction is to challenge them to serve the community, to learn what they missed during their busy working time.Multigenerational householdsThe Chinese tradition of multigenerational households may be in jeopardy as pensions and secured lifetime employment continues to diminish in size an

10、d availability.According to the Census and Statistics Departments 2006 Elderly Profile Report, 37.9 percent of the elderly live in public rental housing and 56.3 percent in private permanent housing. About 83 percent of the elderly live with family members (spouse and/or children) and about 10 perce

11、nt live alone.Several experts agree that Hong Kongs limited space and high cost of living impact the ability of households to support senior family members.In Hong Kong, different generations are not living together, but they like to live closely in the same community to maintain networks and relati

12、ons, said Ma.Senior citizens these days have to keep up with changing social values.More and more elderly choose to live by themselves as they would prefer to have their only living patterns and habits, also to avoid creating tense relations with other kids and their in-laws, said Ma.Chan, however,

13、offered the explanation that under the influence of the Western culture most people, especially the younger generation, yearn and look for more personal space and privacy. Thus, most of them strive to live apart once when they are better off financially or when they get married.He pointed out that a

14、 1997 study that highlighted that the next generation of elderly would choose to live apart from their children so as to maintain their independence and good relations with their children.Under the downturn of the economic climate, another common phenomenon is that some of the adult children move ba

15、ck to live with the elders after they sell their flats to pay debts. This situation might upset the balance of the whole family in the sense of living habits and family financial expenses, said Chan.Retiring abroadWith these issues in mind, some seniors choose to retire abroad or remain there having

16、 left Asia many years ago.Dr Ernest Chui, associate director of Sau Po Centre on Ageing at University of Hong Kong, said that a great majority (of seniors) stay in Hong Kong while a small number of them migrate to the mainland when they retire. Some join their children in Canada, United States and A

17、ustralia.The old concept of retirement as staying-put is no longer the trend, said one 75-year-old man who now works in Hong Kong as a consultant. It is not the word retirement that is important; it is a change of lifestyle. He described himself as an East-West snowbird having decided to return to H

18、ong Kong after spending 41 years in Canada.Physically-challenged residents enjoy some entertainment provided by the foundation as part of its Day Care Program. Photos courtesy of Yee Hong FoundationAnother example is Stanley Kwan who is an alert 84 year old having retired 20 years ago after an illus

19、trious career in Hong Kong that included heading the research department at Hang Seng Bank and being a China watcher at the American Consulate.Originally from Hong Kong, he remained in touch by writing a book titled The Dragon and the Crown: Hong Kong Memoirs published last year by Hong Kong Univers

20、ity.I just take things easy, he said modestly over the phone. He spends his retirement in the quiet pursuit of intellectual endeavors.A wide variety of opportunities in retirement is available, but they require independence and careful planning particularly during challenging economic times.Differen

21、t strokes for different folksThe alternative nowadays is to continue working part-time, volunteering, or providing consulting services not only to survive but to remain active in ones golden years.Seniors these days will have second, third and maybe fourth careers in their lifetimes: Its what you do

22、 with your time that changes-whether you want to use your time to tour China or to see family members more often, said one grey-collar worker from his home in Hong Kong.Baby boomers no longer look at retirement per se, he said, they no longer rely on a pension or buying a house outside the country a

23、nd doing nothing.Dr Chui warned, nevertheless, that some seniors may lose their jobs, thus weakening the basis for their contributory retirement protection scheme under the MPF.He cited 2006 census figures that indicated 57,000 seniors aged 65 and over were still working of which 41 per cent have a

24、monthly salary below HK$6,000. The median monthly income of the entire working population is HK$10,000.Moreover, said Dr Chui, if the economy slackens further, some elderly workers may lose their jobs, even already low-paid or 3D jobs - dirty, dangerous, difficult ones. Some may have to turn to rece

25、iving government welfare. Those who rely on their adult childrens financial support may also suffer indirectly as their children may also lose jobs or income.With regards to his own retirement, Ma said that he plans to work half-time to contribute more to the volunteer service as consultant, advisor

26、 as well as helper at some organizations.Chan is also looking forward to retirement: I have no worries about it because I have good preparation for it- both financially and emotionally.(HK Edition 04/04/2009 page3)o Home o LAUNCH Conference o Mahalo o This Week In o Open Angel Forum C A catch phrase

27、 will go here soon.Official announcement regarding my retirement from blogging. 7/11/2008 View CommentsNOTE: Yes Ive stopped blogging, but you can find my commentary/blog posts on my private mailing list now, Jasons List, here:(Note: use your real name and a real email address. I only approve folks

28、with real names).“Its with a heavy heart, and much consideration, that today I would like to announce my retirement from blogging.” Jason McCabe Calacanis, July 11th 2008.This was an extremely difficult decision, and I havent made it lightly. After five years Im not sure I know any other way of bein

29、g but the blog, but at some point you have to hang it up. I know that I had made the right decision for me and my family. I am very proud of the success that we have had in blogging and I leave the game with few regrets.To be sure, I am going to miss blogging. I am going to miss the relationships wi

30、th my fellow bloggers. I am going to miss the readers. I am going to miss the great friends that I have made over this time. I am going to miss all the good times that we have had together. But most of all, I am going to miss the comments.*Today I consider myself the luckiest man on the face of the

31、earth. I have been linked to from so many blogs over the five years, and I have never received anything but kindness and encouragement from you fans.*Calacanis PR rep: At this point Mr. Calacanis will take a couple of questions (you can post to the comment if you like).“What now?” Saul Hansell, New

32、York Times:Starting today all of my thoughts will be reserved for a new medium. Something smaller, something more intimate, and something very personal: an email list. Today the email list has about 600 members, Im going to cut it off when it reaches 750. Frankly, thats enough more than enough people to have a conversation with. Im going to try and build a deeper relationship with fewer peopletry to get back to my roots.“Why no