Friends unhappy with jobs or close to retirement often say that they just don`t know how they will cope financially. They don`t have the same kind of skills I do or they don`t know how they`ll manage with a reduced income. I tell them it`s all about finding different ways to live and rediscovering yourself in new ways.
When I retired I was really tired. Though I had worked for the same employer for about fourteen and a half years, had got to do a lot of different things, learned an amazing amount, and mostly liked my job, there were also things I didn’t like. I could do without the stress at budget time and the constant dealing with members of the “public” who wanted to complain and even yell at you on occasion. I learned how to problem solve, but I got tired of constantly taking responsibility when there were people who rarely seemed to take it. I like change, but at times things seemed to change or be reorganized too often and as the years went by, my job had more and more areas of responsibility. In the end I was responsible for overseeing around three quarters of a million dollars (this included grants) and I didn’t think I was paid enough for that and some of the other kinds of work I did. So I left, though on good terms because I wanted to go back and do contract work there.Before I retired, however, I did some soul searching, counselling, and research into options for other work. I knew, for instance, that I could probably get part time work at the public library, and I was fairly certain I could substitute teach because I had a teaching certificate and had taught in the past. I’d also been a waitress at one point so Tim Horton’s was a possibility.
I had a small pension coming from my employer and some savings to tide me over until I could apply for Canada Pension at 60. What not everyone realizes is that it’s pretty easy to research Government of Canada pensions and Old Age Security on line. Prior to getting my pension I had to have a full year without work, but once I had it, I could work as much as I wanted.I did a couple of things that needed doing on my house before I quit working (re-shingling the roof).
Then I took several months off just to relax, recoup, read and vegetate if I wanted. After that contract work arrived periodically without my having to do very much. I had a few lean months now and then, but I had some mutual funds that I cashed in, some Canada Savings Bonds, and a little money in RRSP’s. I haven’t had to cash in any of the latter so far, and still have some Canada Savings Bonds.I was able to pay off my mortgage a few years after I retired thanks to a longer term contract, which allowed me to live on less. I keep my expenses down, and rarely impulse buy, particularly when money is tight. My car is 20-years old, but I bought it new and keep it maintained.
There are flush times and leaner times, but generally my philosophy is not to spend money I don’t have. When I needed to either repair an old washer and dryer, or get a new set, I waited until I had a good contract and bought the appliances.I wanted more time to write, and I have that. I have the flexibility to spend with family. I’d like to travel more than I do, but when I don’t have the money for it, I don’t get bent out of shape about it. Rather I appreciate the kind of life I’ve made for myself and the things I love about it.
To anyone who is thinking about retirement, I say, do some planning and research. You don`t have to buy into the consumer society; there are ways to make money and live well on less. Think creatively, consider the things that are important to you, and go for it.
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