Retiring at 50 - 2 more years to go!

[JAsherek]

Hi everyone, new to the site! I am a 47 year old single father from Alberta, Canada who is now an empty nester. I have been aggressively saving and investing with a goal of retiring as early as possible.

Currently I have approximately $550K in real estate holdings (not including my home) that I will liquidating prior to retirement, as well as around $500K in a mix of RRSPs, company defined contribution plans, TFSAs, and an investment account. Just have to pay off my mortgage (~$200K) and then I am free and clear. I have chosen to put most of my savings into investments rather than paying down my mortgage since my interest rate is so low (just over 3% locked in for just under 7 years).

I am hoping I am on track for an early retirement at the age of 50, at which time I can get away from the miserable Alberta winters and settle to the laid back lifestyle on Vancouver Island.


Best of luck to you all!
Jerry

 

[heeyy_joe]

Likewise.

 

[Nomad4hire]

Hi Jerry -- welcome and good luck to you.

 

[ziggy29]

Welcome to ER.org!

My situation was a lot like yours -- I was planning to retire at about age 50 -- but early this month, my employer saw fit to push me through the door ~2.5 years earlier than that. Still, I think we'll be OK, at least as long as my wife continues to enjoy her work in ministry and our new congregation wants to keep her.

It will feel really good to pay off that mortgage. I haven't had one since 2006, and the feeling you get knowing that you can now live on a LOT less income is very liberating.

 

[obgyn65]

Welcome to the forum, Jerry.