home » community » discussion forums

COMMUNITY UPDATE: Please note that as of January 1, 2014 at 1 a.m. EST these forums will no longer be supported. We encourage you to start saving any of the content you would like to keep on your personal device(s). If you have questions regarding our decision to discontinue the forums please see our FAQ

Money Mavens
The forum has been marked as read.
The topic has been marked as read.
  «   Page 1 of 1   »      New Topic  Back to the Forum
At what age do you think you will retire at?  Actions...
Posted: by Chatelaine_Team on Wed. 27 Jun., 2012 at 4:58:14 PM
Is this decision by choice or by necessity?

Chatelaine_Team
   Reply  Top
I got  Actions...
Posted: by Koda on Wed. 27 Jun., 2012 at 7:00:46 PM
In reply to: Chatelaine_Team "At what age do you think you will retire at?"
laid off 3 years ago, not by my choice! Unfortunately it wasn't a permanent position, could've have gone back to a less desirable seasonal position but there came a point where this job was just too physically demanding & stressful. There was a long list of criteria you had to meet every year in order to be called back the next year, personally I'm getting too old for that.

My husband can keep working forever, unless we win the lottery, lol! It's just getting too expensive to live here, we will probably have to move to another smaller city in order to survive.





Attention is the rarest and purest form of generosity. — Simone Weil

Koda
   Reply  Top
My husband  Actions...
Posted: by WaillinJen on Sun. 8 Jul., 2012 at 5:55:16 PM
In reply to: Chatelaine_Team "At what age do you think you will retire at?"
wants to retire at 62 and I'll retire at 65. Depending on expenses, my hubby might pickup a part-time contract but only if he's having fun. 

WaillinJen
   Reply  Top
Our plan...  Actions...
Posted: by MMV on Sat. 21 Jul., 2012 at 6:39:57 PM
In reply to: Chatelaine_Team "At what age do you think you will retire at?"
is to retire at 55 years of age and this is by choice.  We have 3.5 years left and we can't wait.  

MMV
   Reply  Top
Please share your plan  Actions...
Posted: by jjaycee on Tue. 28 Aug., 2012 at 9:28:31 AM
In reply to: MMV "Our plan..."
How did you come up with the amount you needed to have to be able to do this?

 

jjaycee
   Reply  Top
No magic formula  Actions...
Posted: by MMV on Thu. 30 Aug., 2012 at 8:40:56 PM
In reply to: jjaycee "Please share your plan"
By living according to our means, by maximizing our RRSPs & TFSAs, by not incurring any debt, by focusing on paying off the mortgage, by keeping our older cars that are paid off and well-maintained, by vacationing wisely every couple of years, by listening to sound financial advice, and by having a reserve for a rainy day.  

We itemized and forecasted our retirement living expenses on a monthly and annual basis. We've even done test runs on this.

It's basic but it's worked for us.   

MMV
edited Thu. 30 Aug., 2012 @ 8:49:14 PM by MMV
edited Thu. 30 Aug., 2012 @ 8:49:47 PM by MMV
 
 Reply  Top
one more thing  Actions...
Posted: by frenchroast on Fri. 31 Aug., 2012 at 7:03:42 AM
In reply to: jjaycee "Please share your plan"
I'll add something to the list: maximize non-registered investments.  Good investing can pay well and does not have to be risky. Dividends are taxed more favorably than plain interest, same with cap. gains.  A good adviser can pay off multiple times.

  

frenchroast
   Reply  Top
another question  Actions...
Posted: by Koda on Fri. 31 Aug., 2012 at 10:32:52 AM
In reply to: MMV "Our plan..."
once you retire the age of 55, what will you & your husband be doing for the next 30-40 years? Do you have a lot of hobbies? Will you spend your days at the golf course?

Just curious.


Attention is the rarest and purest form of generosity. — Simone Weil

Koda
   Reply  Top
planning...  Actions...
Posted: by MMV on Fri. 31 Aug., 2012 at 12:41:32 PM
In reply to: Koda "another question"

We do have hobbies, and we will use the next three years to develop more in anticipation of retirement.  We also have been enlarging our social circle for that very reason.  We will definitely travel as it's something we both enjoy, and in fact have been accumulating a "travel fund" for our retirement years.

Retirement is something you have to prepare for, in more ways than one.

My brother passed away at 51, and my ex-husband just passed away at 51 also.  If we're lucky enough to get to retirement age I can assure you we will live it up.  There was a saying mentioned many times at my ex-husbands funeral a couple of weeks ago.  CARPE DIEM!

MMV
edited Fri. 31 Aug., 2012 @ 12:42:08 PM by MMV
 
 Reply  Top
busy life (aka retirement!)  Actions...
Posted: by frenchroast on Sat. 28 Dec., 2013 at 7:50:46 PM
In reply to: Koda "another question"
I can't imagine being bored.  It's a bit like when I was first a full time parent and people asked if I got bored at home, lol... I wished!! Are you bored Koda (RubyStar?)?  I can't imagine how I had time to work; in fact I partly retired (from work, not from life) because work was getting in the way of life (: 

frenchroast
   Reply  Top
Canadian Business Magazine  Actions...
Posted: by MMV on Sat. 21 Jul., 2012 at 7:22:02 PM
In reply to: Chatelaine_Team "At what age do you think you will retire at?"
There is a great article on retirement in the most recent issue of Canadian Business.

MMV
   Reply  Top
quite young  Actions...
Posted: by frenchroast on Tue. 28 Aug., 2012 at 3:29:18 PM
In reply to: Chatelaine_Team "At what age do you think you will retire at?"
There are some good practical articles in this month's MoneySense magazine too, on retiring and retirement.

frenchroast
   Reply  Top
Money Sense  Actions...
Posted: by MMV on Thu. 30 Aug., 2012 at 8:27:04 PM
In reply to: frenchroast "quite young"
Excellent magazine!

MMV
   Reply  Top
  «   Page 1 of 1   »      New Topic  Back to the Forum
Denotes unread or updated content since your last visit.
Denotes new content since your last visit.
font size »
Powered by
Advertisement

Leave a Reply