IN THE NEWS: Junior Achievers in London (CTV)
Author: jaswo
Why RRSP Season Should Interest Teenagers (and How Junior Achievement Supports Early Retirement Planning)
Retirement planning is too often considered a distant concern for teenagers, who are more focused on immediate priorities like school, social activities, and part-time jobs. However, in today’s economic landscape, starting retirement planning early has become increasingly important. With RRSP (Registered Retirement Savings Plan) season in full swing, it’s an opportune moment to discuss why teenagers should take an interest in retirement planning and how organizations like Junior Achievement are supporting youth in this endeavor.
- Understanding Long-Term Financial Goals: Teenagers are at a pivotal stage where they begin to envision their future careers and lifestyles. While retirement may seem far off, establishing long-term financial goals early on can significantly impact their financial well-being later in life. By understanding the importance of saving for retirement now, teenagers can set themselves on the path towards financial independence and security.
- Harnessing the Power of Compound Interest: One of the most significant advantages of starting retirement planning early is the power of compound interest. By starting to save and invest early, teenagers can take advantage of the compounding effect, where their money earns interest on both the principal amount and the interest already earned. This can lead to significant growth over time, even with relatively small contributions.
- Developing Financial Responsibility: Learning about retirement planning at a young age fosters financial responsibility and discipline. By budgeting for retirement savings alongside other expenses, young people develop crucial money management skills that will serve them well throughout their lives. Understanding spending, saving, and investing empowers youth.
- Adapting to Economic Uncertainty: Young people are not immune to the effects of economic uncertainty. As the cost of living continues to rise, without adequate retirement savings, teenagers risk facing financial insecurity in their later years. By starting to save and invest early, they can better prepare themselves to meet future financial challenges.
Note that there is no minimum age to open an RRSP. If a Canadian has employment income and files a tax return, they (or their guardian) may set up and contribute to an RRSP. The same is not true for tax-free savings accounts (TFSAs), which require a minimum of at least 18 years of age.
While the benefits of early retirement planning for teenagers are clear, the question remains: how can they access the necessary knowledge and resources to get started? This is where organizations like Junior Achievement (JA) step in.
Junior Achievement is a global nonprofit organization dedicated to empowering young people to succeed in the global economy. One of the key components of JA’s programs is financial literacy education, which includes topics such as budgeting, saving, and investing. Through a variety of learning experiences and resources, JA equips young people with the skills and knowledge they need to navigate the complexities of the financial world.
Through interactive classroom programs such as JA Personal Finance, real-world simulations like JA Investment Strategies, and online resources including JA’s Your Money Questions Answered modules, teenagers learn about the importance of starting early, the different investment options available, and the impact of compound growth on their retirement savings.
RRSP season serves as a timely reminder that retirement planning is not just for adults – even teenagers can benefit from starting to save and invest early. By understanding their own long-term goals, harnessing the power of compound interest, developing financial responsibility, and adapting to economic uncertainty, young people can lay a strong foundation for a prosperous financial future. It is more important than ever for young people to take control of their financial futures, and organizations like Junior Achievement play a vital role in supporting youth in starting retirement planning early, providing them with the knowledge and resources they need to succeed.
- Karen Chafe
Director, Programs & Operations
JA South Western Ontario
Navigating the Future: A Strategic Look at HR Trends Shaping Youth Preparedness for the Evolving Workforce
A new year means a new start and many people consider changing jobs and/or careers in January. It can be a daunting thought for people with work experience, and absolutely overwhelming for a young person who’s just starting out.
We sought insights from Kim MacPherson, a JA South Western Ontario board member and a Global Talent Leader, to gain her thoughts and perspective on the future of work.
Q: In your experience across various industries, have you identified any trends in Human Resources that were common to all? If so, what were they?
A:
Absolutely, and it’s an exciting time for young professionals! One trend that stands out across the board is the emphasis on adaptability and agility. Companies are valuing individuals who can quickly pivot and learn new things.
It’s not just about having specific skills; it’s about having the mindset to embrace change and always being ready to grow.
So, consider your career a constant learning journey, and you’ll be well on your way.
Q: We know that many people will work in jobs that don’t yet exist. How can young people prepare themselves for this reality?
A:
Get ready for a future full of possibilities.
To thrive in a future of unknown professions, young individuals should focus on building a solid foundation of transferable skills.
Critical thinking, creativity, and adaptability will be invaluable assets, transcending specific job requirements.
Embrace a mindset of continuous learning, stay curious, and be proactive in seeking diverse experiences. The key is to be open-minded and ready to learn, no matter where your career takes you!
Q: Looking ahead, what does the work environment look like? What are some outcomes from the pandemic that you think will have a lasting impact?
A:
The future workplace is all about flexibility and balance, offering more options for how and where you work. Thanks to the lessons from the pandemic, hybrid work is here to stay, giving you the chance to create a work environment that suits you. It’s not just about the job; it’s about finding a workplace that values your well-being.
Hybrid work models will likely become the norm, offering employees a balance between remote and office-based work. This shift will influence HR practices, focusing on employee well-being, digital collaboration tools, and redefining performance metrics to accommodate diverse work arrangements.
Q: What do you think are the top three competencies youth need to develop to be successful in the workplace of the future?
A:
First, digital literacy is paramount. Familiarity with emerging technologies and adapting to new digital tools are essential skills for the future workforce.
Second, critical thinking and problem-solving skills will be in high demand. The ability to analyze complex situations, think creatively, and propose innovative solutions will set individuals apart.
Last, effective communication and collaboration skills will be crucial in a world where remote work and virtual teams are increasingly prevalent. Being able to convey ideas clearly and collaborate seamlessly across diverse teams will be crucial to success.
Life is full of surprises, and being able to bounce back from setbacks with a positive attitude will make you unstoppable.
Q: What’s one piece of advice or guidance you’d offer youth as they enter the workplace?
A:
Embrace the adventure! Your career is a journey, not a destination.
Always be hungry to learn, seek out mentors who can guide you, and never shy away from trying new things.
Your success isn’t just about what you know today but how eager you are to keep growing.
So, stay curious, stay open-minded, and remember that every experience, no matter how small, is a step toward building your fantastic future.
If you’re interested in reading more about the Future of Jobs, we encourage you to check out the World Economic Forum report: https://www.weforum.org/publications/the-future-of-jobs-report-2023/
IN THE NEWS: Taco Bell Foundation’s Grant World of Choices Program Events Includes Windsor-Essex (AM800/CKLW)
Guest host Kyle Horner is joined by Karen Gallant, CEO of JA South Western Ontario to talk about the foundation and the benefit it has for students.
Help turn dreams into reality – a message from JA Alum Stephen McCabe
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However, it was in high school, during the JA Company Program in 2012, that my JA experience took on a whole new level. I pitched the idea of duct tape wallets to my company, which later evolved into duct tape book bags. Despite facing unexpected challenges during production, our team remained undeterred and eventually pivoted to creative and custom phone cases, aligning with a trend of the time. This experience taught me invaluable lessons in leadership, adaptability, and the importance of a unified vision. Fast forward to today, and I am the CEO and Co-Founder of Northern Devs, a successful venture dedicated to helping startups and small-medium businesses build apps and websites. Additionally, I serve as a startup and product coach, sharing my expertise with an incubator in Brampton. Most recently, I’m excited to be launching QuickCasa, an AI platform designed to qualify leads for leasing agents in residential leasing. When reflecting on my journey, I attribute much of my success to the solid foundation laid by JA. From selling energy drinks in high school to leading tech startups, JA instilled in me a deep understanding of business fundamentals and the critical importance of teamwork and adaptability. Offering advice to high school students, I emphasize two key takeaways: ask questions and just try it. As I’ve come to realize, “Not knowing is never a problem; not learning is always a problem.” I wish I had taken more chances and embraced unique experiences, like the invaluable opportunities provided by programs such as JA. As JA South Western Ontario celebrates the achievements of countless individuals with their “The Next 60 Starts Here” 60thAnniversary celebration, I invite you to join me in supporting their mission. Your generous contribution enables JA to continue empowering young minds, fostering entrepreneurship, and building a foundation for future leaders. Please consider making a tax-deductible donation before the year concludes by visiting jaswo.org/60startshere. Your support ensures that more students have the chance to experience the transformative power of JA programs and, like me, turn their dreams into reality. Wishing you a joyous holiday season and a prosperous New Year. Stephen McCabe |
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IN THE NEWS: Geddes Family Foundation Fuels the Future with a Generous Donation to Junior Achievement South Western Ontario
The Geddes Family Foundation, administered through the London Community Foundation, announces a substantial donation to Junior Achievement South Western Ontario (JASWO) in support of the charity’s “The Next 60 Starts Here” 60th Anniversary campaign. Established in 2018, the Geddes Family Foundation is dedicated to supporting education and health initiatives
Brad Geddes, President & CEO ZucoraHome, has a long history with Junior Achievement South Western Ontario. Having served in various leadership roles, including Chair and Past Chair, and recognized as a Director Emeritus, Brad’s connection with JA dates back to 1972-1976 as a student in the Company Program in Brantford, Ontario.
Brad’s JA experience ignited his entrepreneurial spirit, leading to the establishment of multiple successful businesses. He provides invaluable advice to aspiring high school entrepreneurs, emphasizing the importance of finance, law, and a voracious reading habit.
In response to the Geddes Family Foundation’s donation, Karen Gallant, President and CEO of Junior Achievement South Western Ontario, expressed gratitude, stating, “This support allows us to expand our programs, reaching more students and empowering them with essential life skills. We are deeply grateful for the Geddes family’s commitment to fostering the next generation of leaders through relevant hands-on learning.”
“London Community Foundation is proud to facilitate the Geddes Family Foundation’s significant multi-year commitment that will further Junior Achievement’s vital mission,” said Diane Silva, Director of Philanthropy, London Community Foundation. “We applaud the Geddes family for investing in fostering the leadership and entrepreneurial skills of young people who are essential for building strong and thriving communities now and for generations to come.”
The Geddes Family Foundation’s donation comes at a critical time, as JA South Western Ontario celebrates 60 years with a goal to ensure every child is inspired by a JA experience. To learn more and be a part of the celebration, please visit jaswo.org/60startshere or call 519-439-4201.
IN THE NEWS: Calling all alumni of Junior Achievement South Western Ontario (Cambridge Today)
Calling all alumni of Junior Achievement South Western Ontario
JA alumni invited to participate in the creation of a ‘mosaic of stories’
Listen to this article
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NEWS RELEASE
JUNIOR ACHIEVEMENT SOUTH WESTERN ONTARIO
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Junior Achievement South Western Ontario is reaching out to its alumni spanning six decades to collect and celebrate the stories of success, growth, and learning that have emerged from the JA experience. As the charitable organization commemorates 60 years with their Next 60 Starts Here celebration, JA seeks to highlight and celebrate the impact of JA experiences on the professional and personal development of its alumni.
JA has been a pillar of experiential learning in southwestern Ontario since 1963, nurturing skills and insights essential for students in the areas of financial health, entrepreneurship, and work readiness. The stories of JA alumni stand as a testament to the enduring influence of Junior Achievement, demonstrating the transformative power of hands-on learning.
“We encourage JA alumni in our region, regardless of the scale of your experience, to share your story to help inspire local students,” said Karen Gallant, president and CEO of JA South Western Ontario. “We’re filling out our Alumni yearbook with at least one story from each of the past 60 years, but in the end we want to hear from as many alumni as possible. You never know which story is going to connect with a student and motivate them to push through a challenge they’re facing.”
The Next 60 Starts Here alumni initiative aims to showcase the diverse array of experiences and achievements of JA alumni. This mosaic of stories exemplifies the profound impact JA has had on individuals, communities, and the business landscape.
To share a JA story and be a part of this celebration, please visit the website or call 519-439-4201.
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Celebrating 2023 Laureates at the Hall of Fame Gala and Announcing 60th Anniversary “The Next 60 Starts Here” Celebration
At last night’s Gala Celebration at RBC Place London, distinguished Laureates Allan Drewlo, President of Drewlo Holdings, and Jill Wilcox, Owner of Jill’s Table were officially inducted into the London and District Business Hall of Fame, honoured for their outstanding contributions to business, entrepreneurship, and philanthropy. While hosting the event, Junior Achievement South Western Ontario announced the launch of “The Next 60 Starts Here” – a $3.2 Million 60th Anniversary Campaign.
The London and District Business Hall of Fame Gala annually celebrates individuals who have made remarkable contributions to the London and District community through their commit
ment to ethical business practices. Allan Drewlo and Jill Wilcox have been selected as this year’s esteemed Laureates for their dedication to the world of business and philanthropy. Allan Drewlo has emerged as one of Southwestern Ontario’s foremost figures in the real estate development and property management indust
ry and Jill Wilcox has created a beloved destination for foodies, home cooks, and professional chefs as well as authoring food columns and six cookbooks.
The London and District Business Hall of Fame, established in 1990, serves as a crucial fundraising event for JA South Western Ontario. The event showcases the lives and accomplishments of these Laureates, inspiring the next generation of business leaders. These individuals will join a distinguished list of previous Laureates, whose portraits are displayed in the London and District Business Hall of Fame Gallery at the London Public Library in downtown London.
Nominations are now open for the 34th Annual London and District Business Hall of Fame Gala, which will be held on October 24th, 2024. Visit jaswo.org/LBHF for more information.
In addition to celebrating the induction ceremony, Junior Achievement South Western Ontario announced its 60th Anniversary “The Next 60 Starts Here” Celebration.
For 60 years, JA South Western Ontario has been dedicated to equipping young people with essential skills in financial health, entrepreneurship, and work readiness, preparing them for the constantly evolving global economy. JA continues to provide relevant hands-on learning to support youth in gaining essential skills, combatting the cycle of poverty.
The anniversary campaign aims to secure $3.2 million in funding to enhance and expand JA South Western Ontario’s reach and impact. These funds will be allocated toward vital areas, including sustainability initiatives, enriching learning experiences, improving IT infrastructure, and expanding facilities.
Andy Spriet and his wife, Helen, have made a significant commitment to the campaign by donating 10% of the fundraising goal. Andy, a former board member of JA South Western Ontario and an inductee into the London and District Business Hall of Fame in 2002, stressed the importance of supporting the organization, saying, “JA is supporting the future of business by teaching future entrepreneurs the skills they need. As a lifelong entrepreneur myself, it’s important to support these efforts. Helen and I hope our gift will inspire everyone across South Western Ontario to help in whatever way they can.”
As part of the celebration, JA South Western Ontario is collecting Alumni stories, aiming to gather at least one story from each of the past 60 years. The organization invites alumni who have participated in JA programs to share their stories, highlighting how JA has helped them achieve their goals and where they are today. This initiative demonstrates the enduring impact of JA’s work in the community.
Karen Gallant, President and CEO of JA South Western Ontario, expressed her enthusiasm for the 60th Anniversary Celebration. “We are incredibly proud of our six decades of empowering youth in South Western Ontario. This celebration is a testament to the lasting impact we’ve had in the region, and we look forward to connecting with our Alumni and the community to build an even brighter future for the next generation.”
To learn more about JA South Western Ontario’s 60th Anniversary “The Next 60 Starts Here” Celebration and how you can get involved, please visit jaswo.org/60startshere 
IN THE NEWS: Empowering Future Business Leaders The Junior Achievement Way (BizX Magazine)
Empowering Future Business Leaders The Junior Achievement Way By building abilities and nurturing self-belief, Junior Achievement prepares youth for the future of work, ensures they have the tools to be financially capable adults, and teaches them to think entrepreneurially. We explore the importance of Junior Achievement South Western Ontario (JASWO), and how this organization can give students the employment and entrepreneurship skills and mindsets they need to succeed.
A Change to Planned Giving Starts in 2024
Introduction by
Heather J. Scott, CFRE
Director, Philanthropy
JA South Western Ontario
Since 2006, the capital gains on gifts of publicly traded securities to registered charities has been eliminated. Securities eligible are all securities listed on both Canadian and major international exchanges. This includes stocks, mutual funds and bonds, along with a variety of other products. The donation must be made as an ‘in kind’ transfer of the security itself directly to the charity rather than selling the security and gifting the cash proceeds.
When you make a gift of securities to Junior Achievement South Western Ontario, you are providing financial learning experiences for children from Windsor to Tobermory to Fort Erie, a population of more than 500,000 elementary and high school students. With no government or United Way funding, we rely strictly on donations to provide the programming students rely on for financial literacy, work readiness, and entrepreneurship.
For yourself, you eliminate the capital gains tax you would pay if you sold the securities and donated the proceeds. Plus, you receive a charitable tax receipt for your donation.
Making this donation is easy, but before you do so you should consult your professional team. Working with your financial planner, accountant and lawyer to ensure you have your entire estate picture in view is essential to making the right gift at the right time.
Any one of these professionals is constantly following legislative changes, tax laws, to ensure your own personal circumstances align with your philanthropic wishes.
For instance, The 2023 federal budget announced significant changes to the Alternative Minimum Tax (AMT) system. As Susan Evel outlines below, these changes may affect a donor’s decision to donate a gift of securities after December 31, 2023.
A Change to Planned Giving Starts in 2024
By Susan Evel, BA, CFP® CLU, RIS
Owner and Principal
Edgewater Financial Products
Donors are a unique group of people. They are passionate, compassionate and generous. The impact they make is vast, and organizations rely on the support of generous donors to carry on their essential and life-changing work. So, when the Federal government gave notice that it was raising the Alternative Minimum Tax Rate (AMT) in 2024 from 15% to 20.5%, and changing the way donated shares are taxed, charitable organizations took notice. This change could significantly impact charitable contributions from donors who are impacted by the AMT. 
While AMT rules don’t apply to charitable donations on death, and most high net-worth individuals have estate plans that include philanthropy, the changes will impact large lump sum donations donors make while living. If a donor has a large gift amount in mind, they will be better under the new regime to donate annually over multiple years, rather than one large lump sum. From a planning perspective, this could be very helpful to organizations, provided the donor continues the annual commitment, but as we know, circumstances change, and these amounts can’t necessarily be counted on.
The Canadian Association of Gift Planners (CAGP) has noted that the pandemic greatly impacted donations and charitable giving has been declining generally over the years. So, it’s imperative donors are aware of the ways in which they can continue to assist, while still benefitting from a tax perspective.
In the past, donating shares has been a great opportunity. The charity would receive the donation, while the donor received preferential tax treatment as the gains were tax exempt. However, as of 2024, the capital gains will be fully included in the AMT calculation. (It’s worth noting that in most cases, taxpayers subject to the AMT calculation can recover the additional tax paid over several years with proper tax planning).
There is still a window of opportunity for donors considering a gift of shares. With 4 months remaining in 2023 it would be worthwhile for donors to make the donation prior to the end of the year before the rules change. Not only will they be helping the charity, but they will also receive the preferential tax treatment. All while making an impact.
JA South Western Ontario is supported by Riverview Gaming Palace
Did you know? Some of our ongoing support comes through funds raised at Riverview Gaming Centre in Chatham-Kent. We’re so grateful to the centre and everyone who plays there for helping us to invest in the leaders of tomorrow.
Funds from Riverview have supported programs across all three JA pillars – financial literacy, work readiness and entrepreneurship. Knowing that funding is there each month has been a huge help in bringing essential JA education to students in our community.
Thank you Riverview!
“Putting for Potential” Online Auction Open to All!
Support local students in Waterloo Region by shopping at our Online Auction, open until noon on October 19th. We have a wide variety of items including fitness, activities, jewelry, experiences, and gift certificates. Here are just a few:
- Blue Jays tickets
- Foundry Brewery – tasting and tour for 10 people
- Framed reprints – AC/DC, Led Zeppelin, The Rolling Stones
- Paradise Inn – 1 night stay, kayak and fat tire bike rental
- Rebel Creek Golf Club– golf foursome
- Westmount Golf & Country Club – Round of golf with Bill Fox for three people
