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Hi, I am Cato
Old 03-23-2011, 10:42 PM   #1
Recycles dryer sheets
Join Date: Aug 2010
Location: alberta
Posts: 51
Hi, I am Cato

I am Cato, for the most part a lurker and will probably remain so until I retire. I am 63yrs and DW 60yrs, kids mostly independent (Mmm, are they ever fully independent?). We will have a small (actually minute) pension, but living in Canada, the medicare (warts and all - I work in healthcare ) is nice to have and alleviates most of the concerns about healthcare expenses down the road.

DW has been retired for 10yrs now and I have been plugging away, adding to the retirement pile and I have penciled in next year June as a good time to retire and move. Investments are in two lots, with about 75% in a professional corporation and the rest in a taxable account. AA about 60:40 EQ:FI with about 2.5yrs of expenses set aside in a HISA @ 2%. The dividends/interest stream of about $150k pa before taxes, should allow us to live quite comfortably with a margin of safety. We spend about $90K a year (approx). Equities are heavily tilted towards bluechip dividend payers. We own two properties and will sell the one when I retire and add that money (about $650K) to the pile and move away to a condo which has a mortgage of about $41K and will pay that off in Aug of this year.

Some might ask ( I enviously read about members who retired at 50-55yrs) why not retire right now the problem is that at this moment in time, I am paid obscenely well for what I do and it is difficult to let go when your retirement savings visibly grow each month, you do not have the benefit of a COLAd pension and you still carry scars from the market collapse in 2008 in short, fear rules and I might as well ride this tiger until Im ready to get off. Once Im off, Im not getting back on again.

The winters are getting to me and I will be snowbirding it is more a question of where now. I love to travel and there are a lot of places I havent visited yet in North America. This ties in well with my hobby of video-editing I never thought it would become so popular but YouTube seems to have given it a tremendous lift and the phenomenal increase in raw computing power has made it easy today compared to 1995 when encoding video from raw video to MPEG2 took about 10 times longer and DVD writers started coming out at $2K a pop.

So, I raise a glass to the class of 2012.
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Old 03-23-2011, 11:02 PM   #2
gone traveling
Join Date: May 2008
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Welcome to the Forum, Cato from Canukistan!
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Old 03-24-2011, 01:03 AM   #3
Thinks s/he gets paid by the post
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Join Date: Sep 2010
Location: midwestern city
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Welcome Cato from a peer in the same 2012 class.
Very conservative with investments. Not ER'd yet, 48 years old. Please do not take anything I write or imply as legal, financial or medical advice directed to you. Contact your own financial advisor, healthcare provider, or attorney for financial, medical and legal advice.
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Old 03-24-2011, 06:18 AM   #4
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
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Welcome. Sounds like you are all set.
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Old 03-24-2011, 06:23 PM   #5
Recycles dryer sheets
Join Date: Aug 2010
Location: alberta
Posts: 51
Thanks for the welcome and I will now go back to lurking and learning .
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Old 03-28-2011, 10:30 PM   #6
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Location: West
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Welcome! My son-in-law and sister-in-law are both from Canada.
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Old 04-04-2011, 09:00 AM   #7
Recycles dryer sheets
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Location: Allen Park
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Welcome! You may be 'insanely paid' but just remember every year longer you work is one less year of retirement.
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