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Sarah...from NS Canada
Old 08-05-2011, 10:16 AM   #1
Confused about dryer sheets
 
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Sarah...from NS Canada

Hi All,

I'm 36, single (but this might change in the next year or so), I live in Canada and hoping for an earlish retirement.

I have really been enjoying the boards and reading through the various topics and discussions. I have been thinking about / worried about retirement since I was a young girl. I attribute this to my Dad being in his 40's when I was born and he was full into saving for retirement and talked about it a lot. My sisters (who are 12-13 years older than me) are less concerned than I am but they were pretty much in university by the time I was starting elementary school so they weren't part of Dad's conversations on the topic.

I truly feel that I've been doing everything that I can to plan for an early retirement but I am concerned that things aren't going the way that they should be. I wonder if it's allowed in a future post to get some advice on my plan and how I should adjust as I move forward?

Thanks to you all!
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Old 08-05-2011, 10:25 AM   #2
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.......... I wonder if it's allowed in a future post to get some advice on my plan and how I should adjust as I move forward?

Thanks to you all!
Sarah
Welcome.

By all means, ask for advice!
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Old 08-05-2011, 10:37 AM   #3
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Sarah, welcome! And consider yourself very fortunate that your father blessed you with these conversations at an early and impressionable age.
Please feel free to ask questions, from the general to the specific, we'll do our best. We also have a good search feature on the forum, so you can check to see if there are prior posters who have had similar questions.
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Old 08-05-2011, 10:54 AM   #4
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Happy to have you here. My Irish ancestors stopped off in Nova Scotia for about three generations before continuing to the US, so I have a spot in my heart for the place.

One thing that seems to help newcomers is to take stock by looking at your current expenses. You can categorize them any way you want, but it doesn't seem to be useful (for most of us) to slice and dice them too finely. Then, when you have a good handle on what you actually spend, you can more easily frame your questions to get better opinions from the board.
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Old 08-05-2011, 10:55 AM   #5
Confused about dryer sheets
 
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Thanks very much, I am actually really grateful to Dad for that. I think he's pretty happy that I adopted these skills and delay most unnecessary fun purchases to gain future financial stability.

In fact, Dad's now in his mid-70's and is actively helping me with part of my retirement plan (investment properties). It's helped keep him busy during his own FIR life.
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Old 08-05-2011, 11:19 AM   #6
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Hi Rocketgirl. Glad to see you made it over here. Looks like you have a head start with the right financial genes.

Quote:
I truly feel that I've been doing everything that I can to plan for an early retirement but I am concerned that things aren't going the way that they should be. I wonder if it's allowed in a future post to get some advice on my plan and how I should adjust as I move forward?
That's why we're here. You can ask for advice and give some as well. Don't hesitate and don't be shy.
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Old 08-05-2011, 12:38 PM   #7
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Welcome Sarah. I had a similar experience in that my Dad was 48 when I was born and he retired when I went into high school (he was able to collect SS on me for a number of years that helped him). But in my case, I learned from my Dad's mistakes. He had no pension, little savings, no health insurance, poor health habits - and so much of his plans for ER didn't come to fruition. But he lived well within his means as he and Mom actually banked much of their SS income.

Keep saving as much as you can without living like a pauper. Save in tax deferred accounts with low expenses, stay out of debt to the extent you can and keep the frugal mentality. I'm two months into ER and loving it. I actually thought I would go back to w*rk after the summer, maybe P/T, but I don't see myself doing that now. This ER thing is definately habit forming.
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Old 08-05-2011, 12:49 PM   #8
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Welcome Sarah... there a few of us Canadians on here... most of us hoping for early retirement but a few that have already squeezed the stick and pulled the trigger ! (they're the really interesting ones... lol)
I was in the same boat as you... very older siblings and elderly parents. If nothing else, as others have said, continue to be grateful that it gave you an early realization that worklife has an ending and there is life beyond it.

If you want to "meet" some of Canadians on here, I suggest you start a thread dealing with RRSPs or TFSAs or something.... it draws them out of the woodwork.. lol
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Old 08-05-2011, 01:29 PM   #9
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Welcome. You sound like my son (about your age) and my daughter (10 years younger). I have pounded the savings habit into them and it seems to have taken with them too.
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Old 08-05-2011, 01:59 PM   #10
Confused about dryer sheets
 
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Thanks again everyone, I will post a more detailed overview later but as clarification I guess maybe I'm worried that I'm doing everything correctly but "wrong" if that makes more sense. I've maxed out RRSP's, have my TSFA maxed, have a few rental properties but I am feeling like investments in particular should be further along. I've been investing since I was 18 actually (my older sister was dating a broker who suggested I get in the game with graduation money I had). I worry that with all of this effort I'll not see my FIRE as I'd expected.

I'll post my full details over the weekend and any guidance (or reality / sanity) checks will be much appreciated once I have the time to post properly
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Old 08-05-2011, 04:17 PM   #11
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Thanks again everyone, I will post a more detailed overview later but as clarification I guess maybe I'm worried that I'm doing everything correctly but "wrong" if that makes more sense. I've maxed out RRSP's, have my TSFA maxed, have a few rental properties but I am feeling like investments in particular should be further along. I've been investing since I was 18 actually (my older sister was dating a broker who suggested I get in the game with graduation money I had). I worry that with all of this effort I'll not see my FIRE as I'd expected.

I'll post my full details over the weekend and any guidance (or reality / sanity) checks will be much appreciated once I have the time to post properly
Welcome from another Canadian.

Could I ask you a question? I'd love to live in NS when I'm retired, or possibly sooner. But I've never been there yet. Any downsides to NS life? I know sales tax is now the highest in Canada but it seems lower prices make up for that at least partially. I'm really interested in what seems to be a slower pace of life, friendly people, lots of great scenery, lots of smaller communities closer together. I haven't visited yet because I don't think I'd come back.

About me: I'm 34, married. Currently live in Winnipeg. I've pretty much been thinking about early retirement since I got my first real job at 21. Since I've been married though, early retirement is more of a possibility. We're able to save quite a lot every month. I'm down to working 4 days a week now. Hopefully by 45 that will be 3 days. Around 55 we should be able to start thinking about full retirement or at least working only because it's interesting.
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Old 08-05-2011, 04:25 PM   #12
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Sarah,

Welcome. Love NS. Seems that when I was up there many that I met was more or less living off of the land. They didn't have a fancy name for it like ER.
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Old 08-05-2011, 06:08 PM   #13
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Welcome, Rocket Girl.
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Old 08-06-2011, 08:52 AM   #14
Confused about dryer sheets
 
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Welcome from another Canadian.

Could I ask you a question? I'd love to live in NS when I'm retired, or possibly sooner. But I've never been there yet. Any downsides to NS life? I know sales tax is now the highest in Canada but it seems lower prices make up for that at least partially. I'm really interested in what seems to be a slower pace of life, friendly people, lots of great scenery, lots of smaller communities closer together. I haven't visited yet because I don't think I'd come back.
We are taxed, it is true, however life in NS is quite lovely. I know I'm a bit biased but in general homes are very affordable, and even if you selected the more "expensive" cities in NS I'm quite you can get a lot of house for less money. In any part of NY you are so close to many beautiful small communities. People are really very friendly, and it's a safe place to live. (This really applies to all parts of the Atlantic Provinces). Generally (this summer aside) our summers are warm and plesant and our winters are basically mild by Canadian standards. I have the conveniences of the city but I am close to many beaches and parks, have great camping available within a few hours, I can canoe / kayack with a short drive, have parks for lovely walks, can get good local food as well as dine in restaurants offering internatinal fare. It really is a small province but it has many of the things that attract people to larger cities. There may be less urban selection but the other benefits outweight the lack of fancy outings. (In fact with my FIRE plan I doubt I'd even take advantage very often if I could.)

Glad to hear that you are doing so well towards your own retirement. I think NS is a wonderful place to consider in the golden years. I don't want to wax poetic here as others might not be as interested but please feel free to Private Message me, I'm happy to share lots of information about this area
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Old 08-06-2011, 09:05 AM   #15
Confused about dryer sheets
 
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Sarah,

Welcome. Love NS. Seems that when I was up there many that I met was more or less living off of the land. They didn't have a fancy name for it like ER.
I wonder how long ago that was? I live in one of the NS cities so I'm not quite as lucky (and definately NOT handy enough) to live off the land Plus I do like a few urban conveniences so I'm probably gonna ER in the city....a cabin might be a nice additional ER benefit though
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Old 08-07-2011, 08:19 PM   #16
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I wonder how long ago that was? I live in one of the NS cities so I'm not quite as lucky (and definately NOT handy enough) to live off the land Plus I do like a few urban conveniences so I'm probably gonna ER in the city....a cabin might be a nice additional ER benefit though
Opps. Forgot to mention that my last visit was in 1983.
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