Armstrong Retirement Homes

Management

Caretenders Retirement Living

Caretenders Retirement Living was founded in 1988 and since that time it has established a successful track record of developing and operating some thirteen retirement communities, primarily in British Columbia, Ontario, and Arizona. Currently, in addition to Queens Avenue, we operate residences in Belleville Ontario and Kelowna BC, and we are extremely excited about our new building set to open in Fall 2011 in Armstrong BC.

Caretenders' philosophy is to break away from the cookie-cutter molds of the big retirement home companies and instead offer residents of our facilities something unique. As is true of Queens Avenue, each of our buildings are specifically tailored to their surroundings to reflects the heart of the greater community; from the style of our building, to our landscaping, services, staff and menu, every aspect of a Caretenders' facility is perfectly adapted to the general feel of the surrounding community so that residents feel like they never left their own home.

In the future, Caretenders will be bringing this philosophy to all their new projects, and are specifically targeting smaller communities so that seniors have the opportunity to stay close to home as their care needs change. This makes the transition to a retirement home much easier for seniors as they are able to remain close to their family and friends, and can continue to be active in community groups that they make up such a significant portion of.

By keeping the valuable spirit of seniors close to home, Caretenders is not only caring for the communities within their buildings, but for communities across North America.

Many people have very high salaries

    Retirement is something that is very far in the back of my mind. As of today I do not have a specific age that I want to retire at. My plan is to retire when I am around 60 years of age such that I have enough saved to retire. With the economy fluctuating and the social security threatened to collapse in few years when I do retire I do not expect to be relying on the government. Retirement will ultimately depend on money.

    While I am working during my 20’s, 30’s, 40’s and 50’s I will accumulate a specific habit that my lifestyle will mirror monetarily.  For this reason I believe that if it costs me around $50,000-70,000 to live each year then I would expect my retirement account to hold around $2,000,000 which would allow me  to live on that money for up to 30 years after retirement . Since I will be retiring in about 50 years inflation may cause the number to rise and cost of living may also skyrocket considering the increasing world population will put monetary constraints to enjoy the types of lives we live in today’s world. The question rises of how to retire with that much money in my savings account.

    My personal finance teacher in one of his lessons stated “Many people have very high salaries, but they have no money in the bank account”. It took me little bit of time to figure out the meaning of this statement, and I came to conclusion that making money will be important, but almost as important is the ability and the skill to retain that money. My plan during my work years is to save or invest certain percentage of my salary such that my money would accrue interest and eventually grow to be sufficient enough to retire from.  401k plan will be one of the more heavily used tools to achieve this, but another method I plan to use is mutual funds as well as low risk-high yield long term stocks. The main plan for my retirement will involve different types of investment and savings to ensure that there is no single point of failure in this plan, decreasing the risk of economic downturn negatively impacting the retirement accounts. While trying to accommodate for all of these different methods for saving I will try not to make some of the common mistakes when it comes to saving money.

    As a seasonal job I work as an income tax preparer. In my job I see first- hand what happens when people do not take the time to save money properly and are force to live on $7,000 a year in social security income. The reason I bring up this example is because it demonstrates someone who has worked hard all of their life and the only thing they have now is $7,000 from the US government. Today many people make simple mistakes when it comes to money. Majority of people spend what they do not have. Credit cards are in majority of households, because of this people are tempted to buy items they do not have money for and this causes them to get stuck in a psychological loop. When a person wants something but can’t pay for it they buy on credit, when they receive their paycheck they pay off their usual bills and pay the very minimum on their credit card such that they have more money to spend. After using the leftover money for entertainment or other spending they are back to having no money and credit card debt. This mind set drives people away from taking those extra dollars and putting them into a saving account such as CD in a bank, or a 401(k) plan at their job which later leads to $7,000 a year from the US government. Overall, I hope to learn more about finances at an early age so that later in my life I am able to take necessary steps to ensure successful retirement.