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is it possible to not work much more?
Old 04-21-2005, 03:22 PM   #1
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is it possible to not work much more?

My dh and I are Canadians. We live in a city and have a nice condo worth @ $250 000. My dh is not currently working and I have a small business and don't make much money.

As Canadians, health care is not too much of an issue. We have no pensions, other than Government work and OAP in the future.

Could we sell this condo and move to a town and get a cheaper place and add the extra money to our savings and only work a little after that.

We are both in our 50's. So we need to wait until 60 and 65 for our small pensions from government.

What do you think?
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Re: is it possible to not work much more?
Old 04-21-2005, 06:02 PM   #2
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Re: is it possible to not work much more?

For me, it would be easy. I believe most others here
would have a real problem making it work. Just my
opinion.

JG
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Re: is it possible to not work much more?
Old 04-21-2005, 06:12 PM   #3
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Re: is it possible to not work much more?

Ever guestimated your yearly expenses?
Have a car? Any credit card debt and so on?
A little more info and we can offer a better view
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1.Convert Euro assets to US$ now or not?<br />2.Tax haven work, anyone ventured?<br />3.ER income from Real-Estate or Equities?<br />4.ER to Canada or US?<br />5.Lifesavings secure in Funds after Worldcon/Enrot/Equitable Life?<br />6.House price correction risk as rates go up?<br />7.Prop arbitrage i.e. CA &gt; 20% IL&lt;8%?
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Re: is it possible to not work much more?
Old 04-22-2005, 04:59 AM   #4
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Re: is it possible to not work much more?

Do you have any RRSP's?

Did you both contribute the max to CPP for your working life?

You may be eligible for GIS at 65.

It's doable but you will be at or below the poverty line.

Part time no-brainer jobs may be necessary.
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Re: is it possible to not work much more?
Old 04-22-2005, 09:47 AM   #5
Confused about dryer sheets
 
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Re: is it possible to not work much more?

Older car and another older car on the way.
$1400 - $1800 a month expenses
Home paid off
No other debt
Mutual funds and RRSP's firmly in place.

Any more thoughts?

Maybe semi-retirement is best
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Re: is it possible to not work much more?
Old 04-26-2005, 03:27 AM   #6
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Re: is it possible to not work much more?

Hi kally,
From the title of the your thread it sounds like you want to ease out of work and not simply jump over the broom into the land of retirement...thats an ok plan

Often times careers which were not built in a day, can't be dismantled in a day. However take it from me, once you enjoy the benes of semi-retirement, full retirement happens quickly.

I went from fulltime to halftime to 1 day/wk to zero ....in a few short months. I suspect I was like you. I really wanted to just quit but decided I'd e a s e into it.... easier on the brain.


BUM
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Re: is it possible to not work much more?
Old 04-26-2005, 05:21 AM   #7
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Re: is it possible to not work much more?

Hello BUM! It's not really my nature to "ease" into anything. Anyway, here is my ER history, in order:

1992 ER idea hit
Aug. 1993 Semiretired
Oct, 1993 Started working PT
Jan 1994 Started consulting PT
June 1994 Back to work FT
June 1996 Switched back to PT
June 1998 Quit for good

JG

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Re: is it possible to not work much more?
Old 04-27-2005, 04:22 PM   #8
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Re: is it possible to not work much more?

Hi JG,

Wow you're on the way to a 10 year ER anniversary! I dont know how my ER path will play out. I thought I was done when 2 ex-customers called with offers I couldnt refuse. Now I'm back to working a ball-busting 3 and maybe even 4 half days in May :P :P :P
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