While Rick Angus, a retired teacher, spends a lot of his time travelling, he recently bought a condo in Calgary – “a place to hang my hat.”Todd Korol/The Globe and Mail
In Tales from the Golden Age, retirees talk about their spending, savings and whether life after work is what they expected.
Rick Angus, 60, Calgary
I retired in 2020 at age 56 after a 30-year career in education, including as a teacher, consultant and administrator. Just after the pandemic hit, my school district offered a generous voluntary retirement package. I was also eligible for my full pension, so I decided it was time to go. I retired a few years earlier than I expected, but I had a great career and didn’t want to be like some of my colleagues who maybe stayed on a bit longer than they should’ve. I wanted to retire when I felt at the top of my game.
Retirement was euphoric at first; no more alarm clocks or 10-minute lunch breaks. I’m also divorced and, as a lifelong traveller, wanted to travel more. I started by spending a lot of time in Hawaii and Mexico (during the pandemic). Then, after about six months, the reality set in that every day in retirement wouldn’t be an exciting, fun-filled adventure. I needed some roots, so I bought a condo in Calgary – a place to hang my hat – after living and working in Edmonton for most of my life.
Retirement can get a bit lonely, especially when you’re travelling regularly. The lifestyle isn’t for everyone, and I miss my two daughters a lot, but they have busy lives. I’ve taken up pet sitting when travelling; dogs and cats can be great company. Recently, I was pet sitting in Puerto Rico. I’ve also been a pet sitter in the Dominican Republic, Nicaragua and Norway, and one of my favourites was in Switzerland, where I assisted a breeder in tending to 14 Bengal cats.
I don’t get too stressed about money, even though I didn’t have a lot of savings when I retired. I had about $100,000 and put 40 per cent of it toward a down payment on my condo. I rent out my place when I’m travelling for longer stints, which helps bring in some extra cash. Fortunately, the value of my condo has appreciated, so I’m better off financially than when I retired four years ago.
I also have my work pension and just started taking my Canada Pension Plan (CPP) benefits when I turned 60. I know some people recommend waiting longer to take CPP benefits so that you can get a higher monthly amount, but my dad passed away from cancer at 50, so I didn’t want to wait. I’m healthy and want to spend the money in my prime retirement years. You never know what’s around the corner.
Also, I’m not a big spender. It’s amazing how comfortably you can live on a limited budget in many of the countries I’ve visited.
Retirement isn’t all sunshine and roses; there can be some long days, but I have no regrets. My advice to others is to plan for a retirement lifestyle that you’re comfortable with; you may not need as much money as you think. Don’t stay in a job in which you’re unhappy or unfulfilled to save more money you may not need. If you’re ready to retire, I say go for it.
As told to Brenda Bouw
This interview has been edited and condensed.
Are you a Canadian retiree interested in discussing what life is like now that you’ve stopped working? The Globe is looking for people to participate in its Tales from the Golden Age feature, which examines the personal and financial realities of retirement. If you’re interested in being interviewed for this feature and agree to use your full name and have a photo taken, please e-mail us at: goldenageglobe@gmail.com. Please include a few details about how you saved and invested for retirement and what your life is like now.
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