NotJustDreaming
Dryer sheet wannabe
Ahhh! I am absolutely thrilled that I found this forum. I should have known though that there would be something like this. I wonder why I never thought to check. And I just stumbled upon you...
I am 40. About to turn though. My husband is 41 and is in the military. We've got three kids, ages ten, eight and almost four now. We both have defined benefit pension plans. He can leave after 25 years service and I've got 30 with an NRA of 50. But I was a late starter so have to wait 'til 57. But won't! Which is part of why I'm here.
I can't say exactly when I became interested in personal finance but it was fairly recently (six years or so). Mostly because I wanted to buy a sailboat. Then live aboard a sailboat. Then retire early and live on a sailboat... you get the idea.
I am happy to find this place.
I'm sure you're all familiar with this. Most people have no interest in personal finances, early retirement or anything like that. It's hard to find someone to share your enthusiasm with. Living below your means, spending less than you earn, saving for the future... pretty much foreign concepts to the general population. And I wish I'd know then what I know now.... All that stuff. So I'm so happy I'm here right now.
I belong to another forum. Sailing variety. Same concept. Just different shelter. But then there is a broad range of finances in that group. It's still about living on your own terms, on a fixed budget.
I didn't have much uncertainty about our plans until just recently. I'm not 100% certain our pensions will be there. It only takes a little bit of doubt though.
Our financials:
We paid off the house three years ago. Current market value is $400,000
We've got our RRSPs topped up.
RESP for kids optimized so that we contribute to receive the maximum CESG (Canadian Education Savings Grant - government grant)
Current living expenses $3300-$3500 per month including an exorbitant amount for childcare. We have a live-in caregiver because I work shift work and my husband travels all the time. No cable, just got high speed in January, basic phone. All the little things you can do to decrease expenses. We cannot give up the caregiver yet though or I'll go insane. It's all about balance though, right?
Our net worth overall is $656,000. This includes the house. But not the pensions.
Our plan... it's really mine, but husband says he is onboard with it, is to retire in 2016. At this time he'll receive a pension of $45,000 per year. I'll defer my pension. We'll keep our savings invested for the longer term and maybe even contribute more. We'll live off that $45K pension. I'm fairly certain we can do it.
We wanted to buy a sailboat and go cruising. We still do. Though with five people you need a fairly large boat. It took me a long time to learn, but this may be too much of a financial drain on our resources. This dream is still on the table. It's more of a dream than reality though.
I know we have the financial resources, sell the house ... buy a boat. Security may just be too big a thing for me though. Depreciating assets and all. So over the last few years I started to examine exactly why I wanted to go cruising.
Financial freedom, simplicity, spending time with family, travel. Freedom. Travel. Family. And it sort of petered down to just having the freedom to do whatever whenever with my family.
So here I am.
Five years to go. (Did I say I'm thrilled to be here?!?) With my plan. That keeps changing. I've got no doubt that I want financial freedom. And want to spend time travelling with my family. And when they (and us) are young enough to enjoy it to the max.
Our fixed budget is limited at $45K before taxes. But we've got savings, our house and additional savings to fall back on. I'm pretty sure we can do it under the $45 though.
And now I can get an idea if we're right from you!
I subscribed to International Living magazine. Thought it was a ton of advertising with only a few gems (and I've only received my second copy). I can't find enough blogs that sustain my appetite for early retirement and international living or travel.
I know it can be done.
I didn't lurk here at all. I hope I gave the right info and get great responses. Though I don't have many questions at this point. I'm kind of wandering about wondering if I'm going in the right direction.
I am thrilled to find you all!
Hi from
Colleen
I am 40. About to turn though. My husband is 41 and is in the military. We've got three kids, ages ten, eight and almost four now. We both have defined benefit pension plans. He can leave after 25 years service and I've got 30 with an NRA of 50. But I was a late starter so have to wait 'til 57. But won't! Which is part of why I'm here.
I can't say exactly when I became interested in personal finance but it was fairly recently (six years or so). Mostly because I wanted to buy a sailboat. Then live aboard a sailboat. Then retire early and live on a sailboat... you get the idea.
I am happy to find this place.
I'm sure you're all familiar with this. Most people have no interest in personal finances, early retirement or anything like that. It's hard to find someone to share your enthusiasm with. Living below your means, spending less than you earn, saving for the future... pretty much foreign concepts to the general population. And I wish I'd know then what I know now.... All that stuff. So I'm so happy I'm here right now.
I belong to another forum. Sailing variety. Same concept. Just different shelter. But then there is a broad range of finances in that group. It's still about living on your own terms, on a fixed budget.
I didn't have much uncertainty about our plans until just recently. I'm not 100% certain our pensions will be there. It only takes a little bit of doubt though.
Our financials:
We paid off the house three years ago. Current market value is $400,000
We've got our RRSPs topped up.
RESP for kids optimized so that we contribute to receive the maximum CESG (Canadian Education Savings Grant - government grant)
Current living expenses $3300-$3500 per month including an exorbitant amount for childcare. We have a live-in caregiver because I work shift work and my husband travels all the time. No cable, just got high speed in January, basic phone. All the little things you can do to decrease expenses. We cannot give up the caregiver yet though or I'll go insane. It's all about balance though, right?
Our net worth overall is $656,000. This includes the house. But not the pensions.
Our plan... it's really mine, but husband says he is onboard with it, is to retire in 2016. At this time he'll receive a pension of $45,000 per year. I'll defer my pension. We'll keep our savings invested for the longer term and maybe even contribute more. We'll live off that $45K pension. I'm fairly certain we can do it.
We wanted to buy a sailboat and go cruising. We still do. Though with five people you need a fairly large boat. It took me a long time to learn, but this may be too much of a financial drain on our resources. This dream is still on the table. It's more of a dream than reality though.
I know we have the financial resources, sell the house ... buy a boat. Security may just be too big a thing for me though. Depreciating assets and all. So over the last few years I started to examine exactly why I wanted to go cruising.
Financial freedom, simplicity, spending time with family, travel. Freedom. Travel. Family. And it sort of petered down to just having the freedom to do whatever whenever with my family.
So here I am.
Five years to go. (Did I say I'm thrilled to be here?!?) With my plan. That keeps changing. I've got no doubt that I want financial freedom. And want to spend time travelling with my family. And when they (and us) are young enough to enjoy it to the max.
Our fixed budget is limited at $45K before taxes. But we've got savings, our house and additional savings to fall back on. I'm pretty sure we can do it under the $45 though.
And now I can get an idea if we're right from you!
I subscribed to International Living magazine. Thought it was a ton of advertising with only a few gems (and I've only received my second copy). I can't find enough blogs that sustain my appetite for early retirement and international living or travel.
I know it can be done.
I didn't lurk here at all. I hope I gave the right info and get great responses. Though I don't have many questions at this point. I'm kind of wandering about wondering if I'm going in the right direction.
I am thrilled to find you all!
Hi from
Colleen