Surviving Retirement - Series- Ep 2 - Pension Day

Surviving Retirement is a You Tube Creator Original Series In this second episode of the Surviving Retirement video series, the host provides a transparent look at the financial and emotional realities of living on a fixed income during pension day. The video offers a step-by-step breakdown of managing immediate monthly expenses, such as prioritizing rent payments and handling outstanding debts with major financial creditors. Viewers will learn about specific Canadian provincial assistance programs, low-cost grocery options, and practical ways to secure supplementary income through everyday recycling and selling personal items. Additionally, the host shares personal updates regarding post-retirement employment pursuits, pet care responsibilities, and affordable meal preparation strategies. 00:00– Episode 2 Introduction: Pension Day Intro Pension Day! Creditors I Pay. The host outlines the emotional and financial routine of receiving a monthly pension payment and immediately distributing those funds to various waiting creditors. 02:38– The Reality of Pension Day Discussion by host of the emotions surrounding getting paid benefits then paying off bills and debts 03:40– Managing Rent & Housing Subsidies BC Housing A detailed explanation demonstrates how Canadian seniors can apply for a BC Housing rent subsidy and navigate the ongoing financial income reassessment process. Discussion by host on how to apply for a BC Housing subsidy and the process for reassessment based on need and real time finances and income. 07:47– Priorities: Rent & Prescriptions The discussion highlights why paying rent and securing necessary medical prescriptions must always be treated as the top two financial priorities on pension day. 10:00– Selling Household Items for Extra Cash The host explains how to generate immediate supplementary cash by selling used books and other unneeded household items from around the living space. 11:46– Do I Qualify for the Grocery Rebate? CGEB An analysis of the Canadian Grocery Rebate, also known as the CGEB, details the specific income qualifications and estimated payout amounts for retirees. 13:31– Pro-Tip: Saving Recyclables for Extra Money A practical strategy explains how to maximize household income by systematically collecting and returning refundable beverage containers for cash. 15:09– Heading to the Pharmacy Feelings for less fortunate people in the host similar situation. 16:00– Pro-Tip: for Prescription Coverage (Canada & US) The video reviews Canadian and United States prescription drug coverage options, focusing on the specific benefits and limitations of government healthcare subsidies. 21:57– Coming Up: Dollarama Reveal & Episode 3 Teaser 22:59– Meeting Kona: Responsibilities of Having Pets in Retirement The host introduces a dog named Kona to discuss the unexpected financial obligations and daily responsibilities of pet ownership during retirement. 25:42– Health Update: The Finger Incident A personal health update details how the host managed a sudden physical finger injury caused by an accident with a pet. 29:10– Lunch at the Cosmic Kitchen: Mac & Cheese Enhancement A cooking segment demonstrates an affordable meal strategy by preparing boxed macaroni and cheese enhanced with hot dogs at the virtual Cosmic Kitchen. 31:19– Dealing with Creditors: CIBC & Blue Cross The host shares direct strategies for communicating with major corporate creditors like CIBC and Blue Cross when a retiree falls behind on monthly payments. 35:52– Pro-Tip- Solutions for Debt: Loadable Credit Cards An explanation of loadable credit cards outlines how to acquire them and breaks down the specific operational fees involved in using them as a debt management tool. 39:01– Dollarama Food Haul & Value Reveal A comprehensive grocery haul from Dollarama reveals the exact cost and overall value of buying everyday food items at a discount retail store. 45:13– Job Situation Update & Security License The host delivers a career update regarding the official acquisition of a British Columbia Security License to improve local employment prospects. 47:38– Closing Thoughts & Next Time on Surviving Retirement The video concludes with an overview of upcoming topics and a preview clip for the third episode of the Surviving Retirement series. Names, companies and products mentioned in video: CIBC; Pacific Blue Cross; Titanium Mastercard; Visa; Money Mart; BC Housing; Steve Marsh; BC Pharmacare; Dollarama; Walmart; Folio Society; Kraft Dinner; Government of British Columbia; Government of Canada; CGEB Benefit; You Tube. Retirement Lifestyle and anything you can Think of Over Age 55 Years. We talk about it here!! What interests YOU the most in Retirement? Let Us know and we will cover it. The topics discussed are for educational and entertainment purposes and not a substitute for professional advice.