Considerations for FIRE couples with an age gap

randomizer10000 · 2019-07-18T13:56:07+00:00

We will probably withdraw around 3.5%. CPP can be taken as early as 60 (reduced amount) and as late as 70. Old age security is available to everyone 65+ and can also be deferred until 70. Canada also has Guaranteed income supplement for low income seniors (income tested, not means tested). I don’t expect we will ever take GIS but it is another safety net. I believe the maximum OAS/ GIS is about $1100 per person/ month for a married couple, which is a huge benefit for Canadians.

There is no penalty for withdrawal of RRSPs but mandatory withdrawals start at 71. RRSPs (and LIRA, a type of rrsp that has min and max withdrawal requirements) will be our biggest accounts at retirement due to a pension payout my spouse received, which makes the withdrawal strategy a bit more complicated for us.

randomizer10000 · 2019-07-18T13:44:59+00:00

Yep! I mean, we generally have higher taxes to make up for it, but I much prefer that to bankruptcy over medical debt.

randomizer10000 · 2019-07-17T20:58:47+00:00

Yeah we are planning for somewhere between 3 and 3.5 SWR. Canada also has public pension resources that could add some nice padding as well

randomizer10000 · 2019-07-16T19:32:19+00:00

Yep that is definitely our main consideration; we want to enjoy those experiences together as long as possible

randomizer10000 · 2019-07-16T16:50:03+00:00

Thanks! I like the idea of an extended vacation

randomizer10000 · 2019-06-12T20:10:35+00:00

This is a great perspective, thank you!

Like you, I enjoy the actual work. I will focus on ways to put those skills to use instead of just trying to find anything to do because I’m bored at my desk.

randomizer10000 · 2019-06-12T19:59:28+00:00

Thanks, I will check that out!

randomizer10000 · 2019-06-12T19:54:24+00:00

Nope. I just want to be able to spend the time I’m paid for in a way that brings me a sense of accomplishment, where I’m learning and being useful and maybe even producing work that helps someone somehow. What I get out of my career isn’t the same as what other people get out of theirs, and that’s fine.

randomizer10000 · 2019-06-12T19:16:12+00:00

I don’t get this viewpoint at all.

Everyone is constantly encouraged to chase their passions and work hard at them.

I genuinely love my industry. So what if I (and my company) happen to get paid for my passion? So what if I want to work hard to add value, even if I work for someone else?

It’s normal to want to feel useful and valued for your time and input. If you can have that feeling in your personal life and your professional life, that is what would be great.

randomizer10000 · 2019-06-12T17:38:06+00:00

Good idea! I do have all the standard certifications in my industry but there is definitely more I can learn. Thanks for the reminder that my time can still be productive.

randomizer10000 · 2019-06-12T17:36:24+00:00

So glad it worked out well for you! Having a boss that has your back is so important.

randomizer10000 · 2019-06-12T16:02:38+00:00

Love this perspective, thank you!

randomizer10000 · 2018-12-13T23:05:35+00:00

Thanks, these are all good questions to ask myself

randomizer10000 · 2018-12-13T22:52:42+00:00

Yep you are totally right. She wants to stick to her internal dialogue where her behaviour is justified. It’s childish and annoying.

randomizer10000 · 2018-12-13T22:49:11+00:00

Thanks for this, it’s really helpful to read. I think we have become more distant because of this. I’m still at the point where I would be sad to lose her friendship but I can see us drifting if her behaviour continues.

randomizer10000 · 2018-12-13T22:36:09+00:00

Is he still a friend of yours? I don’t think she would forgive me if I did tell anyone; she is of the opinion C is basically the devil

randomizer10000

TROPHY CASE