When I worked as a personal financial advisor, I recommended that my clients have 3 - 6 months' worth of income available as an emergency fund, available in case of need. If they could survive for a year without any income ... so much the better. But ... I didn't have that, myself, and haven't for a number of years. And as my clients became more knowledgeable about how money works, I explained to some/most of them how I operate, with my reasons. For working people, they must continually be in sufficiently good physical, mental and emotionl health to go to their workplace and carry our their required tasks there ... or they don't qualify for that essential paycheque! Plus ... hope that their employer doesn't go broke, close the business, shift work offshore, or get amalgamated with another company, merging the employee's work into the other home office, etc. Now, as a senior, in receipt of two government pensions, one of them contributory, plus a private pension, plus a tax-deferred retirement account that requires an annual withdrawal amount of about 7% up to 10% or so, increasing with age to 20% at age 90), plus I can withdraw more, if I choose (but every dollar taxable) I do not have such a requirement. All that I need do to qualify to continue to receive my pensions ... ... is stay topside the grass! So - I have darn near a guaranteed income ... till the day of my death. Quite a comfortable position in which to operate, I figure. Sometimes I have some readily-available cash, sometimes not ... but that doesn't trouble me. I carry a credit card. If I have an emergency, I'll use the card to pay for whatever I need. I have a Line of Credit, fully secured by mutual fund and stock certificates, that sits unused, most of the time. There was no set-up fee, and there is no maintenance fee if I let it lie unused. Its main purpose is to use when it suits me to purchase investments, if I lack the cash at the time. If I were to use it for funds to be be used in an emergency, most of the uses being not deductible, I would set up a separate line of credit, having certificates issued as needed, to provide the security, so that I have one fund for deductible situations, one for non-deductible emergency use. When I receive my account next month from the credit card agency for the amount owing, I draw a sufficient amount from the non-deductible line of credit to pay that amount in full, thus avoiding interest cost re the credit card. Interest on the line of credit now is 5.25% ... and I'd try to pay it off from current income as quickly as possible. And leave the line of credit that I use for purchase of investments, making the interest cost deductible, uncontaminated by a loan used for non-deductible purposes. Also, I feel comfortable, as I approach age 80, at carrying 80% of my assets in equities. As you know, the stock markets are down, now. Suppose I have an emergency develop tomorrow that requires a substantial amount of expense. Would I sell some of my equities, probably at a lower price than they usually run? Sometimes some of the market is down and other parts are operating at approximately their usual levels. If there were some parts that I might consider to be not undervalued, I might liquidate some of them. But probably I would not. I might liquidate some mutual funds, as I have grown increasingly unhappy with them over recent years. If I sell some stocks, there's the commission to sell them. Then, if there's been a capital gain, I must pay the income tax people a portion of that gain, next year. Then, when I accumulate funds to purchase more stocks, there's commission to pay once more on my purchase. When one considers those costs, often its wiser just to initiate a temporary loan to deal with the emergency. Not only that ... it has been my experience that, after a period when stock markets were undervalued, when the recovery takes place, there is substantial increase in value within a year or two or three following that low market period. I would very likely make a loan, pay it off in part over the intervening period and liquidate some assets as needed after the recovery in order to discharge that loan. If I can make 25% more on an sale of an asset over a couple or three years ... I don't mind paying 5.25% annual interest. I don't have large worry over medical and hospital costs ... if I were a U.S. resident, with higher potential medical and hospital care costs, I might evaluate the situation differently: but possibly not much differently, even so. I hope that you've found this explanation understandable ... and interesting. I am interested to hear your comments. I hope that you are enjoying this beautiful spring weekend ... my multiple-trumpet daffodils are out! ole joyful P.S. If you use this idea and it earns you, say, $300. ... you owe me 10%, right? o j

Thank you - that I did. Repaired some pants - patched back pockets so that my keys don't fall out. Now I have to fix some holes in the floor of the van so that my feet (or those of my passenger) don't fall out. Like they say - be sure to wear your seatbelt! I think that's going to wait till spring! Darned some socks. Daughter called from the Caribbean, renting a sailboat with friends and scuba diving - for upwards of two months. Was recently laid off and returned to Canada (which included paying off the lien on her recently purchased automobile before she could bring it across the border). Brother called, the retiring farmer in Saskatchewan with whom I spent our first Christmas together in many years. Son (local) and a couple of friends. Will probably go out on the town with son and daughter on her return - in a couple of weeks. Renewed my auto licence and driving licence the day before - after Senior Men's Coffee gathering in church which I attended as a kid (where I sang in choir before voice change). They had a cupcake each, with one candle on top, for another old guy and me whose birthdays are in January. With the increase in consumerism and so many of us feeling more pushed than a few years ago, seems to me that we seniors, many of whom enjoy the privilege of pensions, should do what we can to volunteer in our communities, to help things run more smoothly in our society. With many grandparents living so far away, perhaps some of us can be substitute Grandparents for some local kids. What a great world that we live in! (And - we should take better care of it, not mess it up for our grandkids). With a wider variety of cultural patterns in our community and country as a result of increased immigration in recent years, it is important that we learn of the ways of life that others have followed. I've found that, if one listens when living among people of different cultures, often the way that they do things makes a lot of sense - after all, their forebears have been improving their society for many generations. We need to become more familiar with other religions, as well. Good wishes to you and yours for the days ahead. ole joyful

Aw, shucks. Thanks for the compliments. Actually, I've been saving pop (and beer) can tabs for a friend for about 14 years - starting back about the time that I sold those corn-fired heating systems. I was able to send some blue ones, some green ones, and some with a different shape, to Jaybird. Even crossing the border, the postage wasn't too bad. I asked recently why the people who sell them to buy wheelchairs don't save the whole can. Haven't had an answer, yet. On a recent discussion here on that topic, someone suggested that they thought the reason was efficiency - that there was about as much aluminum in a tab as in the rest of the can, but that it took up a lot less space. I replied that I didn't want to be disagreeable, but that I thought that there was a lot less. So, I saved 2,000 tabs, which nearly filled a 2 litre ice cream container (which is slightly under 2 quarts). They didn't weigh more than a kilogram (2.2 lbs.), I think - a kilogram and a half at the outside. About 32 pop cans weigh in at a pound. Which brought me to a certain conclusion. If any of you have removed a bunch of tabs from pop cans, you know that it is a tedious, time-consuming task. As the tabs and the cans, which the scrap metal dealer says go into the same barrel, bring in the princely sum of about 50 cents/lb. ... I think that I'll just give my friend the collector a buck (or even ... maybe ... two) on occasion. And not remove any more tabs. By the way - when you're 75, in good health and receiving three pensions, which in total are more than adequate (for a frugal lifestyle) ... every day is a good day. I don't think I've taken a pill in about 30 years. By the way - if you are taking serious meds, maybe you should join the busloads of U.S. people who travel to Canada from neighbouring states to buy their meds, saving most if not all of the cost of the trip. You know what the result of that will be - soon we Canadians will be paying more for meds! No way the drug companies are going to put up with that nonsense for long. Have you seen the book by the Harvard doc, "The Truth about the Drug Companies"? That most of their highly vaunted patents, etc. are not for new and original research, but mainly a slight variation on an old formula (that allows them to carry the patent protection forward for a substantial number of years). Good wishes to you all for a great autumn. ole joyful

This is totally OT, but I simply can't help myself. Those electric tea kettles would never do in my family, as we are Irish and Scotish. We make tea the proper way: 1. Pour RAPIDLY BOILING water over tea bag 2. Allow to steep for 2 minutes 3. remove bag and discard (cannot be used again if you want the tea to be any good!) Sorry all you people who do it differently. I see nothing wrong with doing it differently except for one thing: When I was in high school and college, I worked as a waitress. I brought tea to a customer, who said in front of me, but to her companions, "Eh, I HATE when THEY do this!" as she removed the tea bag. Now, FYI, I always poured the water at the very last second before I went to a table (after I had everything loaded up,) so the tea didn't get too strong, as I know that some people do not like it strong (just as I do not like strong coffee.) I was thinking to myself, but did not say aloud, for fear of reducing my income, "Eh, I hate when people don't ask for what they want, and then complain when they don't get it." Please specify to your waitress how you want your tea made. I ALWAYS ask them to pour the water over the bag. Sorry to go so far OT. I suppose I should add some frugal tip to make amends. Hmmmm....Oh, I like this one: Do you ever print junk (short-term useful information) off of web sites and then throw the paper in the recycling bin? Well, don't do that! Turn the paper over and use the perfectly clean, white side. Then, don't forget to put it in the recycle bin. ;)