I also didn’t realize how much stress I was under working. In the first six months of retirement I lost 24 pounds, joined the YMCA, and best of all sleep 8 hours a night. Thank you for your upbeat channel.
So far, my husband and I have done all those things you have suggested. We retired at 55, were debt free and did all the research needed for understanding our pensions and social security, medical/travel insurance, etc. We've never been happier over the last 5 years and are looking forward to many more. The hardest part was learning that we can spend on the fun things in life, while we're still young to enjoy it.
I wish I could remember how long I have been following you! I know it has been over a year! I finally pulled the trigger and retired last Friday 2.3.23! I am 60… my husband and high school sweetheart died unexpectedly five years ago! He was 60 and lived two weeks and two days after his birthday. I know how precious life is and there are no guarantees. Thanks for all of your encouragement!!!!
We are so sorry for your loss, especially as we are high school sweethearts, it’s unimaginable how we would feel. Our lives are built around our relationships. Thanks for sharing this with us and we are glad we connected through this site.
I enjoy these videos and don't begrudge Teen and Norm their retirement together, but I too missed out on the retirement I'd planned with my partner, and since his death I have done a lot but all relatively small things and all locally. I can't make any new big plans and in fact I started a temporary job, then took it on permanently to fund retirement plans that I don't have! Then it becomes harder to retire a second time, probably because I feel I won't be able to get another job.
I hope you know that you can collect his social security until you are at FRA and then you can collect yours or his, whichever is higher! Wishing you a happy retirement!
I am semi-retired at 57, but will quit 100% before 60. My biggest regret has been keeping so much "stuff". It weighs you down -- second homes, multiple cars, different "collections" and enough spare clothes to outfit a dozen people. Sell everything you don't plan to use!!!
I’ve been retired 15 yrs now and never regretted it, in fact scares me to think of doing that job again ! One thing that did help with the issues you brought up was a retirement course 6 mths before I retired, where many of these things were discussed. Many employers have these courses. So far so good, now to get out of this -27c weather !!!
Viewing with interest from here! I remember my parents had an English gent named Tommy as a boarder when I was between 2 and 6 years of age.Tommy retired at age 70 and I think you had to be 70 to get the oap.We are lucky to get it at 65 and also we have the Canada pension which we didnt have back then.Tommy lived to be 102 and his sister in England lived to 105.Must be longevity in the English!!!CHEERS
Tina and Norm thank you for sharing valuable information for retirement. Even though you guys did not opt to retire earlier, it is just wonderful to hear how well things are going for the both of you in your retirement years. Looking forward to viewing your next video.
No joke about the unrecognized work stress. I had throat choking stomach acid reflux during the last few years of working. In no way did I attribute it to my job, and neither did my doctor. Two months into retirement (age 60), the throat choking pressure disappeared. I was in complete shock. I feel great now. Love your channel. 🩷
Wow what a shame Ann that was a huge sign of stress , but people , doctors included don’t think it’s stress of the job 🤔 so glad it’s gone and that you are enjoying your retirement have a great weekend Cheers 🍷🌺🙂
Hello Tina and Norm! It’s great though that you have been able to travel as much as you have in your retirement as I’ve seen in some of your past videos. You have created some wonderful memories. One thing I don’t see many other viewers mention is responsibility for overseeing care for an elderly parent after retirement. We tend to not travel very far for very long at this point in order to be there for our Mom who is 89. Looking forward to more great advice from you !😊
Thanks for watching Cherry glad you enjoyed it , we don’t have older parents still alive so can’t comment on this perhaps other viewers could comment have a wonderful weekend Cheers 🍷🌺🙂
We’re going through this. We had plans to retire to Mexico mid 2023. I’m 62. My husband is 71. My mom, who lives near me just had a heart attack in December. We had asked her to move to Mexico with us before her heart attack. Now, everything is up in the air!! It stinks.
This is a very common problem, especially for baby boomers. My mother has been gone for four years. Before that it took about as much planning as D-Day for me to go anywhere.
Another superb video, and really speaks to me. I'm a teacher in the UK and debating taking early retirement at 57. Mortgage free but definitely work stressed. Travel is what my wife and I want to do more of. Thanks for providing fuel for my thoughts. Hope you are having a great weekend.
We would say do it Rob if you can , you can’t buy time or health back so glad we did it at 60 and 58 , never looked back have a wonderful weekend Cheers 🇬🇧🍷🙂🍺🇨🇦
Another excellent video! Homespun, down-to-earth, truthful advice. Particularly (for me anyway...) were the points about leaving earlier than you eventually did leave and realizing how stressful your working life had become. I worked at a non-fulfilling job for 5 years too long before I decided to take the plunge. If you are financially stable and in good health, there is nothing to fear about retirement. In fact, you must do it - you can't get the years you've lost back. I noticed the decreased level of stress less than 2 weeks into retirement. As said in the video, it is the best job you could ever have. Always look forward to these videos.
I know I’m stressed and I am planning to retire this year. It’s a tough decision psychologically to leave a steady payment. As we age we become more vulnerable and can become dependent. I don’t want to loose my independence as I age so taking care mentally and physically is important. Always look forward to Saturday and your videos.
We think it’s natural to feel like this we did , we suggest checking out your CPP /OAS or SS and you might find with a small amount of top up in savings you will be just fine . We wish you well and you will probably sleep 😴 a lot better too Cheers 🍷🌺🍺🙂
HI Tina & Norm, I did retire (started getting social security) a little bit earlier than my retirement age, but was waiting for my wife to retire (she is seven years younger than me). This also helped me to continue with my consulting job as freelancer and helped me to continue with health insurance thru her employer and did not have to take my Medicare plan B. She just retired which made our two months Portugal trip possible (today is the first day here in PT). Second point: Exactly our situation - took HEL many times, included it in mortgage refinance many times and so on. Our house still 'owns' us😟, but we don't have HEL anymore.
That’s wonderful Suleman congratulations 🥳 to your wife on her retirement and we hope you both have a lovely trip to Portugal 🇵🇹, we are hoping to maybe get there soon Cheers 🍷🇵🇹🇺🇸🇨🇦🍺
7:17: I believe the both of you. I read a post or article at least 15 years' ago where a guy said that 2 to 4 weeks' after retiring, he went for a checkup with his doctor and his blood pressure "dropped 50 points." Whatever that truly means. I traveled on business last week and had such pain in my left shoulder. Returned home, drank some beers, slept 10 hours and now it's mostly gone. Having to be "on" during the week at work can spill over to the weekends and make life miserable. I feel that at age 58, working life feels like high school. I need to graduate to retirement. Working just seems so silly now and I'm only doing it to fund my retirement at this point. I tell employees that I am the "HR Guy" because my job title doesn't mean anything anymore like when I was younger and fighting to move up. In that sense I feel liberated. But having to face the day to day crap is getting old. Like terminating a 6' 2" 260 pound man for threatening another employee. Would rather retire and let some young person do that.
From what you have shared Randy we think you do indeed need to retire and move on to the new chapter in your life , we hope you can do it soon and wish you all the best Cheers 🍷🌺🍺
I guess we can all look back and see things differently. It’s a big step to finally decide when and how to retire. Thanks for sharing all your advice on many topics. Have a great week 😊small town USA 🇺🇸
Hindsight is always 20/20. It takes just about every retired couple some time to get their retirement "sea legs". But figuring it out is half the fun. It seems that you guys have done a great job in doing just that and have had adventures along the way. Kudos.
Hi Tina & Norm. We’ve been watching your great videos since we discovered the channel in the early days of the pandemic. It’s been part of our “therapy” for getting through it all! You are both lovely and provide a unique perspective on Canadian retirement. A couple of questions, which you can happily ignore, based on your comfort level: 1) Since it’s now February, is a winter getaway not in the picture at all? 2) Could you consider the topic of post-retirement private health benefit plans - what choices did you make in this regard, and at what costs? (Referring to plans that cover extended health, dental, vision, etc.) Thank you, and best wishes with your channel’s continued success!
Thanks so much for watching our videos, a few health hiccups have stopped us so far, getting appointments has taken longer than we thought. We self insure for dental and optical, the eye tests are free once a year, we pay $75 for the additional retina scans. We do buy glasses from the optometrist but also buy pairs online far cheaper. Prescriptions are only a total of $100 per year after 65.
Happy to report that I’m fortunate enough to have implemented most of these…retired at 56, debt free at 54, relatively stress free (see retirement at 56 as my response to stress), fastidiously studied pension plans (workplace and others). I bought back previous service…crazy expensive. Still working on travel insurance…a work in progress. Agree to everything here. One thing to add is the psychological aspects of retirement, beyond dollars and cents. So there are (at least) six things!!!
Thanks for sharing a great number 6 point Murray ! yes you need to prepare yourself mentally to this new chapter of your life and consider your health too it’s not all about the money 💰 by any means. Have a great weekend Cheers 🍷🌺🍺
You advice about debt is soooo spot on! We also learned this the hard way and felt trapped by debt for years. This is one piece of advice that everyone needs to hear.
Travel hasn’t been my focus in retirement because I travelled a lot when I was in my 20s, 30s, and 40s and I lived overseas for 7 years. I’m glad I did all the traveling I did when I did. Now it’s great to enjoy my home and my community - and not have to commute anymore! I love to putter with no schedule, enjoying my hobbies, etc. I’m always busy, but it’s on my schedule, and that’s the best part of retirement for me. There are great books about retirement and I read lots of them before retiring. The thing I did right, without knowing it at the time, was save for retirement from an early age, live within my means while working, and buy a home. I retired earlier than originally planned mostly because job satisfaction-high when younger-changed in my 50s. My biggest surprise before retiring was how much I grew to not enjoy my job like I once did. Changing responsibilities and expectations, plus the shift in my energy level in my 50s, was the impetus to decide to retire earlier than I thought I would. I’m glad I had the financial flexibility to make this decision. It’s important to think about and plan ahead for retirement. There are good books, courses, workshops, the advice of others, etc. that can be really helpful.
Hey Guys, Thank you for new video. I agreed of most things that you mentioned, except for the "house is owning you" IN Calgary, where I live; renting of modest 1 bedroom appartment will be around 2000-2500 a month. My home with all utilities and extras is around 700 CAD per month. Ongoing repairs do take some extra money for sure, but even if I want to renovate ALL house: including roof change, windows and floors, what else, garage door: it will cost me 60-65 thousand CAD and it is good for another 20 years (this cost for renting for 2 years) Besides, house after all this repair will go in price for the same amount at least.
I recently visited the Algarve after following your suggestion. I really enjoyed it! I also made it to Andalucía, Spain and really enjoyed that too. Great content here
I am so with you on the job stress thing! I called it sunday dreds,dreding monday and the job. It just gets to be a habit and you scurrry on the hamster wheel!
Norm and Tina…This is fantastic information for your audience. I retired from a 40 year career in financial services at 65, which was a couple of years ago. I completely agree with all of your reflections. I could have easily retired earlier, as I was good at saving, disliked debt so much I paid off my mortgage as fast as I could (well before I was 55). I also didn’t realize how much stress I was under until I walked out the door for good. Anyway I totally love the freedom I have now, but I do miss the social aspect of being adored by staff and clients.(lol)….
I would love to see a video about travel insurance and how you chose the company and policy that you did. Also details about any catches or fine print issues you have discovered as well.
Love you guys! Just applied for BMO Elite master card to get travel insurance, also, changed my car/home insurance payment to yearly , it saved us $250 per year! Thank you Tina and Norm!!!
Great advice. These are each seemingly small things, but they add up to financial freedom. You don't have to save a million dollars to retire - unless you intend to live like a millionaire.
Making the decision to retire earlier and enjoy life on your terms is the right way to go - if you can afford to do so. I’m so happy I’m retired, and like you I wish I could have done it earlier. But now my task is to enjoy what I can while I still can. Thanks Tina & Norm.
Outstanding video with great information. I am also thinking of retiring at the age of 55 and this video came at the correct time. You two are awesome. Thanks Norm & Tina. Have a great weekend...!!!
Totally agree with all your points guys. Both looking great. I loved my teaching job, right up to the point when I didn't and I retired at 56½, 2 years ago. I didn't want to be the teacher that everyone agreed should have retired! I haven't regretted it for a second. Debt free retirement is the only way to go too..... Keep up the great work, you two! 👊👍
I'm in my 30s and what you two said about travel insurance going up in price as we go up in age was certainly news to me. Thank you for this information.
#1 really is number 1! I counsel everyone if you can afford it retire sooner. Most can afford it if they really think about it. You will spend less in retirement or can than you think and the freedom and reduction of stress is priceless. Another great video Norm & Tina!
You are correct about job stress, it’s constant but one doesn’t see it until you retire. My regret is that I did not anticipate Covid which ruined a couple years of travel. We should have rushed into travel in a big way soon after retirement. Thanks to you, we are in Portugal this winter.
We always joke that Wednesday is just the day between two long weekends! I wish we had known about the travel insurance when we were younger. As it is, I am grateful to the two of you for introducing me to annual plans. So much cheaper.
Hi! Always a pleasure seeing your videos and your positive attitudes. I thought I'd give an update. I'm still working part time for my old employer and banging my head against a wall trying to teach someone Excel and I was right, she is unteachable. What I set up is pretty advanced because I've been using Excel for over 30 years and this person cannot handle it. And she does not listen. 🤦🏻♀ And so my migraines have returned. And then the laptop my boss ordered for me was given away. This is how you treat someone tasked with cleaning up after your lousy new hire? Well....more update: we're getting surprise money from an inheritance and I'm just waiting to get that money before I quit for the last time (4th time!!). And I will not bail them out again. I have had enough. I cannot do stress any longer. It makes me physically ill, just like you Tina.
Yikes 😱 Toby sounds like work is really bumpy and stressful for you so sorry to hear that , but what a nice surprise to receive an inheritance 💰that will allow you to quit ( Don’t go Back ) you don’t realize all that stress goes till you are retired and not working .Have a wonderful weekend Cheers 🍷🌺🙂
Hi Tina and Norm. Comment not related to this video. We are in Albufeira now, for next 2 months. Still finding our way around. Staying in an apartment in the strip area. Wanted to mention the Albufeira shopping centre. The big sign on top ( in your video) no longer there. Also the food court you mentioned in the basement no longer there. All boarded up it seems.
We were told they had started renovations at the mall, shame about the food court, there was a guy there with a Portuguese stall that was like a mini cafeteria, excellent food. Have fun Bill we wish we were there, it’s been minus 20°c here 🥶🥶
Very helpful tips for someone like me in my 40’s. Valuable advice. Thank you both so much! We are learning a lot from u both. Good Bless. Keep those vids coming❤
uk government is now stopping the top up scheme which ends at the end of this financial year....im in a delemia about if i should do this....will i actually live much longer than my pension...im broken from working already physically and still have 5 years to go...my work record is dire due to low waged work and lots of breaks in it....i am however saving as much as i can to suppliment my very low pension...im debt free and own the roof over my head....there isnt a very old lady in this body...so really only a couple of years to manage as a pensioner...great video....if i was younger this would be extremely helpful for me
We didn’t know they are stopping the top ups , sorry Annie to hear you have 5 more years , could you not get a part time job not as physical but less stress. It’s not good they keep raising the age of retirement in the UK 🇬🇧 Tina will have to wait till 67 , when both our mothers retired in the UK it was 60 !! Have a great weekend Cheers 🇬🇧🍷🇨🇦🌺🙂
Sorry to hear about your struggles. From what I have seen, and if my understanding is correct, what is ending is the ability to go back an extra 10 years on top of the usual 6 years years to top up (I believe the maximum top up is for 6 years of contributions). When that extra 10 years program ends you can still top up for missing years but you'll need to choose from the most recent 6 years to top up. I know when my wife did her "top up" we had to complete a form where they listed the years we could top up for and we had to choose from that list and pay accordingly. Of course if you had contributions in those years then yes, you won't be able to top up. For people who left the UK years ago (like my wife) this shouldn't be an issue but for people still living and working in the UK it is a change that could affect them.
Excellent video! Please show this again in another year, updated if you must, but wish I had seen it 23 years ago. I would have retired 5 years earlier.
You two are awesome, always good food for thought. I had already looked at my CPP future earnings. I had thought that I had always paid in the maximum amount as I have made a decent wage since about the age of 22. I found out that for the few years I had owned my own business I hadn't paid into it so I'm short a few years. I do own my own business now and am contributing now, but back when I owed the first one, it wasn't necessary so I missed out on a few years. Now I'll look into seeing if I can pay those missed years back in. Hadn't thought about it until you tow brought it up. Thank you.
Another smaller benefit from retiring especially if you worked in an office, is you won't get as many coughs and flu via the air conditioning! Nothing spreads a bug quicker than the office aircon!!
My husband and I love watching your videos every weekend! Thanks for all the info and we’re hoping to retire within the next couple of years. It’s scary to leave a steady paying job though.
That is awesome! thanks for watching what we found was the fear was actually worse than when we stopped and retired.We welcomed the new chapter in our lives we wish you all the best Cheers 🍷🌺🍺
I would of loved to retire earlier than 65 but I wouldn’t be able to afford health insurance. I actually enjoyed my job most of my career but at the end it became just too oppressive and stressful. My biggest regret is not saving for retirement in my younger years. Might of been able to afford early retirement if I did. Also should of done major upgrades and repairs to my house during my working years when I could afford it better instead of now on less income.
Thanks for sharing Michael it’s a shame that stress is such a huge thing in the workplace and that it goes when you retire, have a wonderful weekend Cheers 🇺🇸🍷🌺🇨🇦🍺
hi, 😅😅i thought id found the perfect retirement information video for me, im about to retire in 2 days and i know nothing about how im going to survive with the exception of knowing how much i will get from the state. however during your vid it became apparent that you live not in the uk but canada! but i took on board all the information you said, some of it im sure will apply to me and some not(especially the get travel insurance early!! im 65!) but thanks for the vid, enjoy your travelling :-)
All good advice Tina and Norm keep making the video's. Living in the UK and retiring early I thought I would have a gap in the years of contributions to receive the full state pension and would need to make additional contributions. Looked at the government website and then speaking to HMRC they confirmed I had already made the necessary contributions to receive the full state pension. In my case making additional year contributions would not increase my pension. Its worth checking first as the rules are complicated - it was one highlight of 2022!
Thanks for sharing Kevin we agree all cases are different, we could of made extra payments 💰but ran out of time ⌛️ as we moved to Canada 🇨🇦 we wouldn’t of got the full pension anyway Cheers 🇬🇧🍷🇨🇦🌺
Good information about withdrawing the RRSP during a low income year! Live and learn...you're passing on your experience to others so they may benefit ❤
Thanks Tina and Norm, for another video of great tips. We’ve been looking at cruise videos and yours popped up on YT. You guys are quite funny in them, love your sense of humour. 💜 We took a Caribbean trip in 2019 and are looking to do a Transatlantic one, to get over to Portugal through England or Barcelona. 🇵🇹 🛳 Thanks again for sharing. 🌷Sam
Hi Sam, We did Lisbon to Boston transatlantic which was a great cruise and we did Copenhagan to New York all great experiences. Hope you find a good itinerary. Weather is balmy today lol.
It's been going great. Just taking care of some home repairs and upgrades this past year and starting my overseas travel over the last several months has been extremely fun. Thanks for asking !!
We are spending 6 weeks in the Philippines preparing our retirement home as we are watching this video. I can definitely see the benefits of the vpn. Even though we have a private service through the local provider- I don’t feel safe when accessing our financial info. Thanks for the advice
Thank you for sharing these thoughts! It sounds like you went into retirement not counting on government pensions and found them a delightful surprise.
We always had work travel insurance so when we retired - it was quite the shock!!! Plus my husband had had some recent health issues so it became a major expense for our one and only trip so far last Fall 2022.
Sorry to hear about your hubby health Sheryl , yes any sort of declared new medical issues makes the cost shoot up 💰guess that’s a new expenditure in retirement for you or perhaps look to travel closer to home where you don’t need insurance , have a wonderful weekend Cheers 🍷🌺🙂
I’m working part time until my wife reaches her “85 factor” for her pension. I retired from a stressful corporate job in tech to take on part time consulting. I’ll be 58 and my wife will be 56. Not FIRE early but earlier than most Canadians I believe. Stress reduction is really the goal and points to just how much mental load work and careers put on us. Edit: Forgot to say, great video as usual guys!
Stress is Invisable. Such a good point. It also accumulates and wears us down. • had no idea about travel insurance. Very good info. • will check out the Nord VPN. Great tips. Thank you! Great staff.
Always enjoy your videos, particularly useful tips for people approaching retirement, like my wife and I, stay safe and well and keep these videos coming.
Stress; high blood pressure; and then a stroke at 58 years old decided it for me; CPP Disability and private LTD then on until 65 years old when it will be CPP and OAS only and drawing down my RRSP; or GICs. Stay well both of you!
Sorry to hear of your health concerns Ken and we do wish you well , it is very true the older we all get the more things seem to be happening to us as well Take Care 🌺🙂
This is why I love your channel, this is very good and practical advice. People get obsessed with articles that say we need 1M in the bank or we will die poor in retirement but the reality is that between CPP/OAS and a meagre savings you can live a fairly decent life. I had to retire at 43 due to disability but my husband is planning his escape for 2 years from now (when he's 52). We will still have a 14 and 16 year old at home but our mortgage will be paid and since I have private disability insurance (and we have life insurance to replace it should either of us pass away prematurely) all of our basic costs are covered. We have no clue what my trajectory will be in the future. Some people with my neurological condition live long, mostly mobile lives and some are in a wheelchair within a few years. No one knows what the future holds but if you have reached a crossover point between your income and your expenses, you should definitely jump. You can make more money but you can't make more time. Cheers!
Thanks so much for sharing we totally agree you can’t buy time back , thanks for watching our channel we appreciate your support have a wonderful weekend Cheers 🍷🌺🙂
Ah yes, if I knew then what you share now! 🤣 Seriously, Toni and Norm you need to become a high profile platform for 35-50 year olds so that all these tips/idea/ possibilities are introduced at an age where they younger generation can plan for their future. Now The mortgage burden is a huge one. Maybe though, start smaller and with less demands. "this kitchen isn't my style but I can live with it for years till we can afford to upgrade" Instead of taking a higher mortgage to totally revamp the home "to my liking'. I miss that in the younger generation today. The furniture has to be the latest fashion, no tot mention needing two cars. It starts with being satisfied. Anyway, enough ranting. Great advice and solid ideas for the younger generation to be getting on with. And for those nearing retirement- soldier on! Make the changes. Every bit helps to a more relaxed future. Have a great weekend. 🎉🍷🤩🇳🇿🙋♀🇳🇱
Great comment Anita yes guess it could be very helpful to younger pre retirees, always wanting to keep up with the Jones’s isn’t a strategy for a happy life ! As you move into retirement no debt , less stress we feel is the key 🔑 to a happier retirement. Hope you are keeping well and have a wonderful weekend Cheers 🇳🇱🍷🇨🇦☕️🙂
Excellent and outstanding advice from seasoned professionals. 😊 ✅ Rule #1. Have zero debt. House, car, credit line, credit card. The bank pays you. You never pay the bank. Best Canadian retirement and travel advice channel in the world 🌎. Always live to impress yourself not others. 😊
I'm 63 and my wife is 67. My wife is fully retired and collects CPP and OAS and a minuscule $300 teacher pension. I retired from my city job and have a pension from there plus collect CPP. Pensions are about $59,000. We also saved well over $1.5 million. We have a small $160,000 mortgage but have cash to pay it off on our farm when it comes due in 2 years. However, I own a business as well and want to retire. However, I am super scared to fully retire. Is there any advice you can give or are there Retirement Counsellors you know of who can help?
We can’t give financial advice but if your wife is 67 and you are 63 perhaps think of the healthy years you have to do things together and that might take away the fear . We found the fear was worse than just doing it , also sure there are counsellors out there just Google and go from there ☕️🙂
I’m trying to retire at 62. Another year and a half but not being able to have any insurance is holding me back. Can’t get Medicare until 65. If I purchase an independent policy it could be $500 a month. Any suggestions?
Great Video Tina and Norm. You highlighted travel insurance, I’m sure you did some research on these plans. Can you recommend one or two options for us?
Thanks for your feedback Varian Patreon is something we are not interested in , we do have “SuperThanks “on our channel for people to support us on Cheers 🍷🌺🍺
I love your videos. What travel insurance company do you recommend? Also, what package do you recommend as you seem to carry it on an annual basis rather than per trip? Please if other Canadians can chime in as well I would appreciate it.
We are with Allianz through Bank of Montreal it’s a yearly policy we have with them it includes trips up to 31 days , as many as you want in a year Cheers 🚢🇨🇦🇮🇸🙂
Great video Tina & Norm, agree 100% with your stress assessment, working for corporate America or Canada will give you just that. Now I wonder why my blood pressure is normal during weekend and high during weekdays😀 As per my research, maximum you can get from CPP is around 15K assuming you paid maximum contribution for almost 39 years and majority of Canadians gets a lot less than the maximum. Anyhow, cold weather is gone now we can enjoy slightly above seasonal temps. Have a great week, love your contents❤ keep up the great work.
Yes we get a lot less than the max CPP but such is life 🤔 plus side we get a British pension 😂😂 this last cold spell was brutal 🥶roll on spring Cheers 🍷🌺🍺
@@ThisIsOurRetirement yes, you have inspired your community to travel, especially Portugal on a number of videos. It’s becoming a reality of us in a few weeks, can’t wait😀 🇵🇹
Greetings from Vancouver, Canada. I'm not familiar with British Pension but in Canada you can't buy years of contributions to CPP. On the other hand Canada has social security agreements with many countries. There are many people living in Canada who also lived and worked in other countries. Even though they might not have qualified for retirement pension based on their years of contributions to pension plans of those other countries the totalization rules and their contributions to CPP might make it possible. Another advise: if you worked and live in Canada but also worked in another country, are at the retirement age in that country, don't qualify based on your contributions to the other pension plan, and Canada has signed a social security agreement please apply for your foreign pension through Service Canada and not directly to the other country's pension office. It will take much less time as Service Canada still has to confirm your years of contributions to CPP. All the best!
We were actually talking about doing top ups for a UK 🇬🇧 pension not Canada 🇨🇦, our work history has been spilt between the UK and Canada so we get pensions from both places Alicja . Have a great week and thanks for watching Cheers 🍷🌺🍺
Our plan is for age 60/58. We need to save a bit more and get our dividend snowball to where we need it. With a bit of luck we’ll go sooner but we’re waiting to avoid a reduced defined benefit pension plan. I expect we will make up the travel opportunities fairly quickly once we do retire.
I thought you might announce topics which may relate to me, but I'm single and have to work until age 70 for a decent social security check. I never owned a home and my stress level is minimal and under control, mostly. I've been tracking my social security for about six years which works for me because I've seen big improvements over those years. At age 70 (which is 46 days away), travel insurance isn't an option.
Congratulations 🥳 on nearly 70 Terry , whether you are single or not being retired is a wonderful new chapter in your life and we wish you well only 46 sleeps 🛌 to go Cheers 🇺🇸🍷🌺🇨🇦
🌏 Get Exclusive NordVPN deal here ➼ nordvpn.com/normandtina It’s risk-free with Nord’s 30-day money-back guarantee! ✌
How long does the link last Norm and Tina
Q 4 U. Does Noed Vpm. Require internet service in addition to the VPN?
@@sandihunter1260 At least for the month of February Sandi 🌺
@@savvysue3537 Yes it does Sue Cheers 🌺
😊p😊😊😊😊😊😊p
I also didn’t realize how much stress I was under working. In the first six months of retirement I lost 24 pounds, joined the YMCA, and best of all sleep 8 hours a night. Thank you for your upbeat channel.
That is awesome! so happy you are enjoying your retirement and thanks for watching our channel Cheers 🍷🌺🍺
Sounds like some serious "ME TIME!" Cheers!
So far, my husband and I have done all those things you have suggested. We retired at 55, were debt free and did all the research needed for understanding our pensions and social security, medical/travel insurance, etc. We've never been happier over the last 5 years and are looking forward to many more. The hardest part was learning that we can spend on the fun things in life, while we're still young to enjoy it.
That’s wonderful Suzanne we are so glad you are having a great retirement have a great weekend Cheers 🍷🌺🙂
Are you in Canada, would you mind sharing your experience for obtaining extended medical insurance?
I wish I could remember how long I have been following you! I know it has been over a year! I finally pulled the trigger and retired last Friday 2.3.23! I am 60… my husband and high school sweetheart died unexpectedly five years ago! He was 60 and lived two weeks and two days after his birthday. I know how precious life is and there are no guarantees. Thanks for all of your encouragement!!!!
So sorry for your loss. I pray that you have a wonderful retirement 😊
We are so sorry for your loss, especially as we are high school sweethearts, it’s unimaginable how we would feel. Our lives are built around our relationships. Thanks for sharing this with us and we are glad we connected through this site.
I enjoy these videos and don't begrudge Teen and Norm their retirement together, but I too missed out on the retirement I'd planned with my partner, and since his death I have done a lot but all relatively small things and all locally. I can't make any new big plans and in fact I started a temporary job, then took it on permanently to fund retirement plans that I don't have! Then it becomes harder to retire a second time, probably because I feel I won't be able to get another job.
I hope you know that you can collect his social security until you are at FRA and then you can collect yours or his, whichever is higher! Wishing you a happy retirement!
I am semi-retired at 57, but will quit 100% before 60. My biggest regret has been keeping so much "stuff". It weighs you down -- second homes, multiple cars, different "collections" and enough spare clothes to outfit a dozen people. Sell everything you don't plan to use!!!
We totally agree we have way too much stuff , we need to have another downsize and get rid of lots of stuff ! have a great weekend Cheers 🍷🌺🍺🙂
Insomnia many Sunday nights told me I was under stress.
Oh yes we remember those days SCT have a wonderful weekend Cheers 🍷🌺🍺
Norm and Tina need to host an annual cruise with their RUclips followers, maybe with other retirement RUclipsrs.
Thanks for the suggestion Rusty Cheers 🍷🌺🍺
I agree! I’m in if that ever happens
Count us in !!
Fantastic idea!
Great idea
I’ve been retired 15 yrs now and never regretted it, in fact scares me to think of doing that job again ! One thing that did help with the issues you brought up was a retirement course 6 mths before I retired, where many of these things were discussed. Many employers have these courses. So far so good, now to get out of this -27c weather !!!
Great idea David thanks for sharing yes we agree it’s Freezing 🥶 in Ontario today Cheers 🍷🥶🇨🇦🌺🍺
Viewing with interest from here! I remember my parents had an English gent named Tommy as a boarder when I was between 2 and 6 years of age.Tommy retired at age 70 and I think you had to be 70 to get the oap.We are lucky to get it at 65 and also we have the Canada pension which we didnt have back then.Tommy lived to be 102 and his sister in England lived to 105.Must be longevity in the English!!!CHEERS
Thanks for sharing Darryl have a wonderful weekend stay warm from freezing 🥶 Ontario Cheers 🇬🇧🍷🍺🇨🇦
Tina and Norm thank you for sharing valuable information for retirement. Even though you guys did not opt to retire earlier, it is just wonderful to hear how well things are going for the both of you in your retirement years. Looking forward to viewing your next video.
Thanks Sylvia so glad you enjoyed it see you next Saturday Cheers 🍷🌺🙂
My husband and I retired early. He was 55 and I was 57. No regrets thus far! Thank you for your channel and wonderful advice. God bless you guys!
You are so welcome! have a great weekend Denise Cheers 🍷🌺🙂
No joke about the unrecognized work stress. I had throat choking stomach acid reflux during the last few years of working. In no way did I attribute it to my job, and neither did my doctor. Two months into retirement (age 60), the throat choking pressure disappeared. I was in complete shock. I feel great now.
Love your channel. 🩷
Wow what a shame Ann that was a huge sign of stress , but people , doctors included don’t think it’s stress of the job 🤔 so glad it’s gone and that you are enjoying your retirement have a great weekend Cheers 🍷🌺🙂
Same here
I love the candidness that your videos bring, thank you
You are so welcome! glad you enjoy them Jane Cheers 🇺🇸🍷🇨🇦
Hello Tina and Norm! It’s great though that you have been able to travel as much as you have in your retirement as I’ve seen in some of your past videos. You have created some wonderful memories. One thing I don’t see many other viewers mention is responsibility for overseeing care for an elderly parent after retirement. We tend to not travel very far for very long at this point in order to be there for our Mom who is 89. Looking forward to more great advice from you !😊
Thanks for watching Cherry glad you enjoyed it , we don’t have older parents still alive so can’t comment on this perhaps other viewers could comment have a wonderful weekend Cheers 🍷🌺🙂
We’re going through this. We had plans to retire to Mexico mid 2023.
I’m 62. My husband is 71.
My mom, who lives near me just had a heart attack in December.
We had asked her to move to Mexico with us before her heart attack.
Now, everything is up in the air!!
It stinks.
@@Mexicobeanpole I’m sorry to hear about your Mom. I hope she can recover so you all can make your move. All the best to you.
This is a very common problem, especially for baby boomers. My mother has been gone for four years. Before that it took about as much planning as D-Day for me to go anywhere.
Another superb video, and really speaks to me. I'm a teacher in the UK and debating taking early retirement at 57. Mortgage free but definitely work stressed. Travel is what my wife and I want to do more of. Thanks for providing fuel for my thoughts. Hope you are having a great weekend.
We would say do it Rob if you can , you can’t buy time or health back so glad we did it at 60 and 58 , never looked back have a wonderful weekend Cheers 🇬🇧🍷🙂🍺🇨🇦
Another excellent video! Homespun, down-to-earth, truthful advice. Particularly (for me anyway...) were the points about leaving earlier than you eventually did leave and realizing how stressful your working life had become. I worked at a non-fulfilling job for 5 years too long before I decided to take the plunge. If you are financially stable and in good health, there is nothing to fear about retirement. In fact, you must do it - you can't get the years you've lost back. I noticed the decreased level of stress less than 2 weeks into retirement. As said in the video, it is the best job you could ever have. Always look forward to these videos.
So true John without health life becomes difficult and finances pale to the background. Thanks for watching.
I know I’m stressed and I am planning to retire this year. It’s a tough decision psychologically to leave a steady payment. As we age we become more vulnerable and can become dependent. I don’t want to loose my independence as I age so taking care mentally and physically is important. Always look forward to Saturday and your videos.
We think it’s natural to feel like this we did , we suggest checking out your CPP /OAS or SS and you might find with a small amount of top up in savings you will be just fine . We wish you well and you will probably sleep 😴 a lot better too Cheers 🍷🌺🍺🙂
HI Tina & Norm, I did retire (started getting social security) a little bit earlier than my retirement age, but was waiting for my wife to retire (she is seven years younger than me). This also helped me to continue with my consulting job as freelancer and helped me to continue with health insurance thru her employer and did not have to take my Medicare plan B. She just retired which made our two months Portugal trip possible (today is the first day here in PT). Second point: Exactly our situation - took HEL many times, included it in mortgage refinance many times and so on. Our house still 'owns' us😟, but we don't have HEL anymore.
That’s wonderful Suleman congratulations 🥳 to your wife on her retirement and we hope you both have a lovely trip to Portugal 🇵🇹, we are hoping to maybe get there soon Cheers 🍷🇵🇹🇺🇸🇨🇦🍺
7:17: I believe the both of you. I read a post or article at least 15 years' ago where a guy said that 2 to 4 weeks' after retiring, he went for a checkup with his doctor and his blood pressure "dropped 50 points." Whatever that truly means.
I traveled on business last week and had such pain in my left shoulder. Returned home, drank some beers, slept 10 hours and now it's mostly gone. Having to be "on" during the week at work can spill over to the weekends and make life miserable. I feel that at age 58, working life feels like high school. I need to graduate to retirement. Working just seems so silly now and I'm only doing it to fund my retirement at this point. I tell employees that I am the "HR Guy" because my job title doesn't mean anything anymore like when I was younger and fighting to move up. In that sense I feel liberated. But having to face the day to day crap is getting old. Like terminating a 6' 2" 260 pound man for threatening another employee. Would rather retire and let some young person do that.
From what you have shared Randy we think you do indeed need to retire and move on to the new chapter in your life , we hope you can do it soon and wish you all the best Cheers 🍷🌺🍺
I guess we can all look back and see things differently. It’s a big step to finally decide when and how to retire. Thanks for sharing all your advice on many topics. Have a great week 😊small town USA 🇺🇸
You are so welcome! we just hope Cinde that sharing what we have learned might help others to do it sooner have a wonderful weekend Cheers 🇺🇸🍷🇨🇦🌺🍺
Great video! We’re meeting with our Financial Advisor today, counting down to retirement!
That is awesome! have a great weekend Tracy Cheers 🍷🌺🍺
So glad you got a sponsor!!! We love your videos !!!
Thank you so much!!
Hindsight is always 20/20. It takes just about every retired couple some time to get their retirement "sea legs". But figuring it out is half the fun. It seems that you guys have done a great job in doing just that and have had adventures along the way. Kudos.
Love the retirement sea legs, awesome analogy. It always good to hear from you Vp.
I wish I had known how awesome Sunday evenings are during retirement. No (or at least little) stress about the upcoming Monday morning.🎉🎉🎉🎉🎉🎉🎉🎉🎉
Yes we get to reclaim Sunday evenings Bill! 👍
Excellent, guys !!! Thanks and have a GREAT Weekend ! 🤠🍷🍷🍺🍺🍓Stay healthy and stay safe !
Glad you enjoyed it Phil have a wonderful weekend Cheers 🇺🇸🍷🇨🇦🌺🍺
Hi Tina & Norm. We’ve been watching your great videos since we discovered the channel in the early days of the pandemic. It’s been part of our “therapy” for getting through it all! You are both lovely and provide a unique perspective on Canadian retirement. A couple of questions, which you can happily ignore, based on your comfort level: 1) Since it’s now February, is a winter getaway not in the picture at all? 2) Could you consider the topic of post-retirement private health benefit plans - what choices did you make in this regard, and at what costs? (Referring to plans that cover extended health, dental, vision, etc.) Thank you, and best wishes with your channel’s continued success!
Thanks so much for watching our videos, a few health hiccups have stopped us so far, getting appointments has taken longer than we thought. We self insure for dental and optical, the eye tests are free once a year, we pay $75 for the additional retina scans. We do buy glasses from the optometrist but also buy pairs online far cheaper. Prescriptions are only a total of $100 per year after 65.
Happy to report that I’m fortunate enough to have implemented most of these…retired at 56, debt free at 54, relatively stress free (see retirement at 56 as my response to stress), fastidiously studied pension plans (workplace and others). I bought back previous service…crazy expensive. Still working on travel insurance…a work in progress. Agree to everything here. One thing to add is the psychological aspects of retirement, beyond dollars and cents. So there are (at least) six things!!!
Thanks for sharing a great number 6 point Murray ! yes you need to prepare yourself mentally to this new chapter of your life and consider your health too it’s not all about the money 💰 by any means. Have a great weekend Cheers 🍷🌺🍺
You advice about debt is soooo spot on! We also learned this the hard way and felt trapped by debt for years. This is one piece of advice that everyone needs to hear.
Travel hasn’t been my focus in retirement because I travelled a lot when I was in my 20s, 30s, and 40s and I lived overseas for 7 years. I’m glad I did all the traveling I did when I did. Now it’s great to enjoy my home and my community - and not have to commute anymore! I love to putter with no schedule, enjoying my hobbies, etc. I’m always busy, but it’s on my schedule, and that’s the best part of retirement for me. There are great books about retirement and I read lots of them before retiring. The thing I did right, without knowing it at the time, was save for retirement from an early age, live within my means while working, and buy a home. I retired earlier than originally planned mostly because job satisfaction-high when younger-changed in my 50s. My biggest surprise before retiring was how much I grew to not enjoy my job like I once did. Changing responsibilities and expectations, plus the shift in my energy level in my 50s, was the impetus to decide to retire earlier than I thought I would. I’m glad I had the financial flexibility to make this decision. It’s important to think about and plan ahead for retirement. There are good books, courses, workshops, the advice of others, etc. that can be really helpful.
That’s great Janet thanks for sharing Cheers 🌺🙂
Hey Guys, Thank you for new video. I agreed of most things that you mentioned, except for the "house is owning you" IN Calgary, where I live; renting of modest 1 bedroom appartment will be around 2000-2500 a month. My home with all utilities and extras is around 700 CAD per month. Ongoing repairs do take some extra money for sure, but even if I want to renovate ALL house: including roof change, windows and floors, what else, garage door: it will cost me 60-65 thousand CAD and it is good for another 20 years (this cost for renting for 2 years)
Besides, house after all this repair will go in price for the same amount at least.
Thanks for sharing Angela
I recently visited the Algarve after following your suggestion. I really enjoyed it! I also made it to Andalucía, Spain and really enjoyed that too. Great content here
Sounds great! we are glad you got to visit The Algarve Alex have a great weekend Cheers 🍷 🇵🇹🌺🇨🇦🙂
I am so with you on the job stress thing! I called it sunday dreds,dreding monday and the job. It just gets to be a habit and you scurrry on the hamster wheel!
We hear you Patsy we are so glad we no longer have that are you retired now if so hope you are enjoying it Cheers 🍷🍺🌺
Being your own boss makes a huge difference in stress level
It did for Norm Kathy!
Norm and Tina…This is fantastic information for your audience. I retired from a 40 year career in financial services at 65, which was a couple of years ago. I completely agree with all of your reflections. I could have easily retired earlier, as I was good at saving, disliked debt so much I paid off my mortgage as fast as I could (well before I was 55). I also didn’t realize how much stress I was under until I walked out the door for good. Anyway I totally love the freedom I have now, but I do miss the social aspect of being adored by staff and clients.(lol)….
So glad you are enjoying your retirement Susan and that the stress has gone have a wonderful weekend Cheers 🍷🌺🍺🙂
I would love to see a video about travel insurance and how you chose the company and policy that you did. Also details about any catches or fine print issues you have discovered as well.
They covered that in last week’s video
Thanks for watching Sean , we actually did one last week just go to our home page hope you enjoy it Cheers 🍷🌺🍺
Yes we did thanks Jo-Anne , have a wonderful weekend Cheers 🍷🌺🙂
Thanks for sharing so openly about your life/retirement experiences.
Our pleasure!have a wonderful weekend Michelle Cheers 🍷🌺🍺
Love you guys! Just applied for BMO Elite master card to get travel insurance, also, changed my car/home insurance payment to yearly , it saved us $250 per year! Thank you Tina and Norm!!!
Your welcome have a great weekend Cheers 🍷🙂🌺
Great advice. These are each seemingly small things, but they add up to financial freedom. You don't have to save a million dollars to retire - unless you intend to live like a millionaire.
Thanks Jane we hope you have a wonderful weekend Cheers 🍷🌺🙂
Making the decision to retire earlier and enjoy life on your terms is the right way to go - if you can afford to do so. I’m so happy I’m retired, and like you I wish I could have done it earlier. But now my task is to enjoy what I can while I still can. Thanks Tina & Norm.
We agree Bruce we are so happy we retired early too , the secret is to enjoy each day while we can have a wonderful weekend Cheers 🇺🇸🍷🇨🇦🙂🍺
Outstanding video with great information. I am also thinking of retiring at the age of 55 and this video came at the correct time. You two are awesome.
Thanks Norm & Tina. Have a great weekend...!!!
Glad it was helpful! we wish you a happy retirement Terry Cheers 🍷🌺🍺
@@ThisIsOurRetirement Cheers you two lovely couple..!!!
Happy Sunday ☕️
Totally agree with all your points guys. Both looking great. I loved my teaching job, right up to the point when I didn't and I retired at 56½, 2 years ago. I didn't want to be the teacher that everyone agreed should have retired! I haven't regretted it for a second. Debt free retirement is the only way to go too..... Keep up the great work, you two! 👊👍
That’s great we are so glad you are having a great retirement, we are loving being retired and treasure each day have a great week Cheers 🇬🇧🍷🇨🇦🍺🙂
I'm in my 30s and what you two said about travel insurance going up in price as we go up in age was certainly news to me. Thank you for this information.
Your very welcome Cheers 🙂🌺
#1 really is number 1! I counsel everyone if you can afford it retire sooner. Most can afford it if they really think about it. You will spend less in retirement or can than you think and the freedom and reduction of stress is priceless. Another great video Norm & Tina!
Thanks for watching Sam totally agree more people can do it if they really think about it , have a great weekend Cheers 🇺🇸🍷🇨🇦🙂🍺
You are correct about job stress, it’s constant but one doesn’t see it until you retire. My regret is that I did not anticipate Covid which ruined a couple years of travel. We should have rushed into travel in a big way soon after retirement. Thanks to you, we are in Portugal this winter.
Wonderful John, glad you are enjoying Portugal, covid has been cruel to us retiree’s.
Parabéns pela escolha. Boa estadia no meu lindo Portugal. Não se esqueçam de visitar o meu Algarve!. 😉
Nobody anticipated Covid ! Enjoy catching up.
Agradecemos o nosso amor pelo Algarve 😀😀🇵🇹
We always joke that Wednesday is just the day between two long weekends! I wish we had known about the travel insurance when we were younger. As it is, I am grateful to the two of you for introducing me to annual plans. So much cheaper.
Glad we are saving you money 💰 on your travel insurance thanks for watching have a wonderful week Cheers 🍷🌺🍺
Hi! Always a pleasure seeing your videos and your positive attitudes. I thought I'd give an update. I'm still working part time for my old employer and banging my head against a wall trying to teach someone Excel and I was right, she is unteachable. What I set up is pretty advanced because I've been using Excel for over 30 years and this person cannot handle it. And she does not listen. 🤦🏻♀ And so my migraines have returned. And then the laptop my boss ordered for me was given away. This is how you treat someone tasked with cleaning up after your lousy new hire? Well....more update: we're getting surprise money from an inheritance and I'm just waiting to get that money before I quit for the last time (4th time!!). And I will not bail them out again. I have had enough. I cannot do stress any longer. It makes me physically ill, just like you Tina.
Yikes 😱 Toby sounds like work is really bumpy and stressful for you so sorry to hear that , but what a nice surprise to receive an inheritance 💰that will allow you to quit ( Don’t go Back ) you don’t realize all that stress goes till you are retired and not working .Have a wonderful weekend Cheers 🍷🌺🙂
I am not bailing anybody out except myself
Priceless ! --------- Nothing can be measured for the gain of time = foresight into some future distance(s) --------- Many Thanks T&N !
Glad you enjoyed it Timothy have a wonderful weekend Cheers 🍷🌺🍺
Hi Tina and Norm. Comment not related to this video. We are in Albufeira now, for next 2 months. Still finding our way around. Staying in an apartment in the strip area. Wanted to mention the Albufeira shopping centre. The big sign on top ( in your video) no longer there. Also the food court you mentioned in the basement no longer there. All boarded up it seems.
We were told they had started renovations at the mall, shame about the food court, there was a guy there with a Portuguese stall that was like a mini cafeteria, excellent food. Have fun Bill we wish we were there, it’s been minus 20°c here 🥶🥶
This is an excellent vid, love the channel and you have inspired me to start my own channel JT's Retirement Countdown. Keep the vids coming bro!!!!
Very helpful tips for someone like me in my 40’s. Valuable advice. Thank you both so much! We are learning a lot from u both. Good Bless. Keep those vids coming❤
Our pleasure! have a great weekend Cheers 🍷🌺🍺
As usual,.awesome video!!!! And yay!!! You're going to do all subjects as per your poll. Looking forward. Your fan Mary from Toronto Ontario 🥰🥰🥰
Hello Mary! Variety is the spice of life after all 😂🤣
Hi TINA&NORM great advice to prompt people to look into these issues.
Regards Christopher Barker
Thanks for watching Christopher glad you enjoyed it have a wonderful weekend Cheers 🇬🇧🍷🇨🇦🍺🌺
uk government is now stopping the top up scheme which ends at the end of this financial year....im in a delemia about if i should do this....will i actually live much longer than my pension...im broken from working already physically and still have 5 years to go...my work record is dire due to low waged work and lots of breaks in it....i am however saving as much as i can to suppliment my very low pension...im debt free and own the roof over my head....there isnt a very old lady in this body...so really only a couple of years to manage as a pensioner...great video....if i was younger this would be extremely helpful for me
We didn’t know they are stopping the top ups , sorry Annie to hear you have 5 more years , could you not get a part time job not as physical but less stress. It’s not good they keep raising the age of retirement in the UK 🇬🇧 Tina will have to wait till 67 , when both our mothers retired in the UK it was 60 !! Have a great weekend Cheers 🇬🇧🍷🇨🇦🌺🙂
Sorry to hear about your struggles. From what I have seen, and if my understanding is correct, what is ending is the ability to go back an extra 10 years on top of the usual 6 years years to top up (I believe the maximum top up is for 6 years of contributions). When that extra 10 years program ends you can still top up for missing years but you'll need to choose from the most recent 6 years to top up. I know when my wife did her "top up" we had to complete a form where they listed the years we could top up for and we had to choose from that list and pay accordingly. Of course if you had contributions in those years then yes, you won't be able to top up. For people who left the UK years ago (like my wife) this shouldn't be an issue but for people still living and working in the UK it is a change that could affect them.
Excellent Information! Thank you!
Our pleasure! glad you enjoyed it have a wonderful weekend Cheers Diane 🍷🌺🍺
Thank you you are so helpful and transparent 👏🇨🇦♥️
You are so welcome have a wonderful weekend Elizabeth Cheers 🍷🌺🙂
Excellent video! Please show this again in another year, updated if you must, but wish I had seen it 23 years ago. I would have retired 5 years earlier.
That is too funny Bob as had we seen it 12 years ago we would of retired 5 years earlier too LOL 😂😂Cheers 🍷🌺🍺
Thanks for sharing your words of wisdom!
Our pleasure Katherine have a wonderful weekend Cheers 🍷🙂🌺
You shot down the balloon with this video ! Brilliant !!!
Thanks so much glad you enjoyed it have a wonderful weekend Cheers 🍷🌺🍺
Thank you for another great video!
Our pleasure! have a great weekend Susan Cheers 🍷🌺🙂
You two are awesome, always good food for thought. I had already looked at my CPP future earnings. I had thought that I had always paid in the maximum amount as I have made a decent wage since about the age of 22. I found out that for the few years I had owned my own business I hadn't paid into it so I'm short a few years. I do own my own business now and am contributing now, but back when I owed the first one, it wasn't necessary so I missed out on a few years. Now I'll look into seeing if I can pay those missed years back in. Hadn't thought about it until you tow brought it up. Thank you.
Glad it was helpful Marco have a wonderful weekend Cheers 🍷🍺🙂🌺
When we carry debt we are slaves. There is truly nothing like being debt free. Another great video Norm and Tina!
Thanks so much, great to hear from you today!
It was shocking how long I waited for retirement, once I did I never looked back.
Best job ever Brad 😂🤣
Another smaller benefit from retiring especially if you worked in an office, is you won't get as many coughs and flu via the air conditioning! Nothing spreads a bug quicker than the office aircon!!
Great point Pete thanks for sharing have a wonderful weekend Cheers 🍷🌺🍺
My husband and I love watching your videos every weekend! Thanks for all the info and we’re hoping to retire within the next couple of years. It’s scary to leave a steady paying job though.
That is awesome! thanks for watching what we found was the fear was actually worse than when we stopped and retired.We welcomed the new chapter in our lives we wish you all the best Cheers 🍷🌺🍺
When things you own starts to own you, you are in the rat race.
Great comment Jaffna have a wonderful weekend Cheers 🍷🌺🙂
Thanks so much guys. Just got back from Arizona and used your recommendation for travel insurance with BMO. Thanks a million !!!!
Your very welcome Stephen glad it worked out for you we will have to put Arizona on the bucket list Cheers 🍷🌺🇺🇸🇨🇦
I would of loved to retire earlier than 65 but I wouldn’t be able to afford health insurance. I actually enjoyed my job most of my career but at the end it became just too oppressive and stressful. My biggest regret is not saving for retirement in my younger years. Might of been able to afford early retirement if I did. Also should of done major upgrades and repairs to my house during my working years when I could afford it better instead of now on less income.
Thanks for sharing Michael it’s a shame that stress is such a huge thing in the workplace and that it goes when you retire, have a wonderful weekend Cheers 🇺🇸🍷🌺🇨🇦🍺
hi, 😅😅i thought id found the perfect retirement information video for me, im about to retire in 2 days and i know nothing about how im going to survive with the exception of knowing how much i will get from the state. however during your vid it became apparent that you live not in the uk but canada! but i took on board all the information you said, some of it im sure will apply to me and some not(especially the get travel insurance early!! im 65!) but thanks for the vid, enjoy your travelling :-)
Thanks Steve, congratulations on your retirement, we do collect a British pension too! 🎉🥳
All good advice Tina and Norm keep making the video's. Living in the UK and retiring early I thought I would have a gap in the years of contributions to receive the full state pension and would need to make additional contributions. Looked at the government website and then speaking to HMRC they confirmed I had already made the necessary contributions to receive the full state pension. In my case making additional year contributions would not increase my pension. Its worth checking first as the rules are complicated - it was one highlight of 2022!
Thanks for sharing Kevin we agree all cases are different, we could of made extra payments 💰but ran out of time ⌛️ as we moved to Canada 🇨🇦 we wouldn’t of got the full pension anyway Cheers 🇬🇧🍷🇨🇦🌺
35 years I think ?
What a sweet couple. Some good advice.
Thank you! have a wonderful week Cheers 🍷🌺🍺
Good information about withdrawing the RRSP during a low income year! Live and learn...you're passing on your experience to others so they may benefit ❤
Thanks Susan! 💕
Thanks Tina and Norm, for another video of great tips.
We’ve been looking at cruise videos and yours popped up on YT. You guys are quite funny in them, love your sense of humour. 💜
We took a Caribbean trip in 2019 and are looking to do a Transatlantic one, to get over to Portugal through England or Barcelona. 🇵🇹 🛳
Thanks again for sharing.
🌷Sam
Hi Sam, We did Lisbon to Boston transatlantic which was a great cruise and we did Copenhagan to New York all great experiences. Hope you find a good itinerary. Weather is balmy today lol.
I will share this with my friends. Love to you both!
Awesome! Thank you! have a wonderful weekend Jodie Cheers 🇺🇸🍷🌺🇨🇦🙂
Thanks for the tips! I always enjoy your videos.
Thanks so much Dan, always good to see you.
Outstanding info as always! U inspire me! I'm retiring in 4 months...age 58
That is awesome! we wish you all the best 🥳 have a great weekend Cheers 🍷🌺🍺
How’s it been for you after retirement, I hope you’re having a great time!
It's been going great. Just taking care of some home repairs and upgrades this past year and starting my overseas travel over the last several months has been extremely fun. Thanks for asking !!
We are spending 6 weeks in the Philippines preparing our retirement home as we are watching this video. I can definitely see the benefits of the vpn. Even though we have a private service through the local provider- I don’t feel safe when accessing our financial info. Thanks for the advice
That’s great Paul we wish you well with your retirement and yes the VPN is a great idea especially for financial information Cheers 🍷 🇵🇭 🍺🇨🇦🌺
Thank you for sharing these thoughts! It sounds like you went into retirement not counting on government pensions and found them a delightful surprise.
Absolutely! you got it Bailey glad you enjoyed it have a wonderful weekend Cheers 🍷🌺🍺🙂
We always had work travel insurance so when we retired - it was quite the shock!!! Plus my husband had had some recent health issues so it became a major expense for our one and only trip so far last Fall 2022.
Sorry to hear about your hubby health Sheryl , yes any sort of declared new medical issues makes the cost shoot up 💰guess that’s a new expenditure in retirement for you or perhaps look to travel closer to home where you don’t need insurance , have a wonderful weekend Cheers 🍷🌺🙂
I’m working part time until my wife reaches her “85 factor” for her pension. I retired from a stressful corporate job in tech to take on part time consulting. I’ll be 58 and my wife will be 56. Not FIRE early but earlier than most Canadians I believe. Stress reduction is really the goal and points to just how much mental load work and careers put on us.
Edit: Forgot to say, great video as usual guys!
Thanks so much and you are right about workplace stress, thanks for watching.
Excellent video thank you
Thanks Ian so glad you enjoyed it enjoy your weekend Cheers 🍷🌺🍺
thank you for the great insight, another great video. Love watching the channel
Our pleasure! thanks for watching Clayton have a wonderful weekend Cheers 🍷🌺🍺
Stress is Invisable. Such a good point. It also accumulates and wears us down.
• had no idea about travel insurance. Very good info.
• will check out the Nord VPN.
Great tips. Thank you!
Great staff.
Glad you enjoyed it Ben always a pleasure have a great weekend from Freezing 🥶🥶Ontario Cheers 🍷🥶🇨🇦🙂🍺
Always enjoy your videos, particularly useful tips for people approaching retirement, like my wife and I, stay safe and well and keep these videos coming.
Thanks so much have a wonderful weekend Cheers 🍷🌺🍺
Stress; high blood pressure; and then a stroke at 58 years old decided it for me; CPP Disability and private LTD then on until 65 years old when it will be CPP and OAS only and drawing down my RRSP; or GICs. Stay well both of you!
Sorry to hear of your health concerns Ken and we do wish you well , it is very true the older we all get the more things seem to be happening to us as well Take Care 🌺🙂
This is why I love your channel, this is very good and practical advice. People get obsessed with articles that say we need 1M in the bank or we will die poor in retirement but the reality is that between CPP/OAS and a meagre savings you can live a fairly decent life. I had to retire at 43 due to disability but my husband is planning his escape for 2 years from now (when he's 52). We will still have a 14 and 16 year old at home but our mortgage will be paid and since I have private disability insurance (and we have life insurance to replace it should either of us pass away prematurely) all of our basic costs are covered.
We have no clue what my trajectory will be in the future. Some people with my neurological condition live long, mostly mobile lives and some are in a wheelchair within a few years. No one knows what the future holds but if you have reached a crossover point between your income and your expenses, you should definitely jump. You can make more money but you can't make more time. Cheers!
Thanks so much for sharing we totally agree you can’t buy time back , thanks for watching our channel we appreciate your support have a wonderful weekend Cheers 🍷🌺🙂
Ah yes, if I knew then what you share now! 🤣 Seriously, Toni and Norm you need to become a high profile platform for 35-50 year olds so that all these tips/idea/ possibilities are introduced at an age where they younger generation can plan for their future. Now The mortgage burden is a huge one. Maybe though, start smaller and with less demands. "this kitchen isn't my style but I can live with it for years till we can afford to upgrade" Instead of taking a higher mortgage to totally revamp the home "to my liking'. I miss that in the younger generation today. The furniture has to be the latest fashion, no tot mention needing two cars. It starts with being satisfied. Anyway, enough ranting. Great advice and solid ideas for the younger generation to be getting on with. And for those nearing retirement- soldier on! Make the changes. Every bit helps to a more relaxed future. Have a great weekend. 🎉🍷🤩🇳🇿🙋♀🇳🇱
Great comment Anita yes guess it could be very helpful to younger pre retirees, always wanting to keep up with the Jones’s isn’t a strategy for a happy life ! As you move into retirement no debt , less stress we feel is the key 🔑 to a happier retirement. Hope you are keeping well and have a wonderful weekend Cheers 🇳🇱🍷🇨🇦☕️🙂
Thank you - love your videos
You are so welcome! enjoy your weekend Cheers 🍷🌺🍺
Student years on scholarship and retirement are the best!
Sounds great Peter Cheers 🍷🌺🍺
Excellent and outstanding advice from seasoned professionals. 😊 ✅
Rule #1. Have zero debt. House, car, credit line, credit card. The bank pays you. You never pay the bank.
Best Canadian retirement and travel advice channel in the world 🌎.
Always live to impress yourself not others. 😊
Thanks for a lovely comment Billy we are glad you enjoyed it we appreciate you watching Cheers 🍷🌺🍺🙂
I'm 63 and my wife is 67. My wife is fully retired and collects CPP and OAS and a minuscule $300 teacher pension. I retired from my city job and have a pension from there plus collect CPP. Pensions are about $59,000. We also saved well over $1.5 million. We have a small $160,000 mortgage but have cash to pay it off on our farm when it comes due in 2 years. However, I own a business as well and want to retire. However, I am super scared to fully retire. Is there any advice you can give or are there Retirement Counsellors you know of who can help?
We can’t give financial advice but if your wife is 67 and you are 63 perhaps think of the healthy years you have to do things together and that might take away the fear . We found the fear was worse than just doing it , also sure there are counsellors out there just Google and go from there ☕️🙂
I’m trying to retire at 62. Another year and a half but not being able to have any insurance is holding me back. Can’t get Medicare until 65. If I purchase an independent policy it could be $500 a month. Any suggestions?
We don’t have any answers sorry
Great Video Tina and Norm. You highlighted travel insurance, I’m sure you did some research on these plans. Can you recommend one or two options for us?
Our last weeks video was all about travel insurance Marcel , go to our home page and take a look help it helps Cheers 🍷🌺🍺
I’d rather have you do Patreon rather than the advert sponsors. Great vid again though! Hope to be debt free soon!
Thanks for your feedback Varian Patreon is something we are not interested in , we do have “SuperThanks “on our channel for people to support us on Cheers 🍷🌺🍺
Thank you!! I’ll get vpn!
Hi Dian great to hear from you today!
I love your videos. What travel insurance company do you recommend? Also, what package do you recommend as you seem to carry it on an annual basis rather than per trip? Please if other Canadians can chime in as well I would appreciate it.
We are with Allianz through Bank of Montreal it’s a yearly policy we have with them it includes trips up to 31 days , as many as you want in a year Cheers 🚢🇨🇦🇮🇸🙂
Dear Tina and Norm, will you be going to Portugal this year. Kindest regards.
Hopefully just having to sort out some health issues first Lorraineski have a great week Cheers 🍷🇵🇹🇨🇦🍺
Great video Tina & Norm, agree 100% with your stress assessment, working for corporate America or Canada will give you just that. Now I wonder why my blood pressure is normal during weekend and high during weekdays😀
As per my research, maximum you can get from CPP is around 15K assuming you paid maximum contribution for almost 39 years and majority of Canadians gets a lot less than the maximum.
Anyhow, cold weather is gone now we can enjoy slightly above seasonal temps. Have a great week, love your contents❤ keep up the great work.
Yes we get a lot less than the max CPP but such is life 🤔 plus side we get a British pension 😂😂 this last cold spell was brutal 🥶roll on spring Cheers 🍷🌺🍺
@@ThisIsOurRetirement yes, you have inspired your community to travel, especially Portugal on a number of videos. It’s becoming a reality of us in a few weeks, can’t wait😀 🇵🇹
We are hoping to be there soon Cheers 🇵🇹🍷🇨🇦🙂
Greetings from Vancouver, Canada. I'm not familiar with British Pension but in Canada you can't buy years of contributions to CPP. On the other hand Canada has social security agreements with many countries. There are many people living in Canada who also lived and worked in other countries. Even though they might not have qualified for retirement pension based on their years of contributions to pension plans of those other countries the totalization rules and their contributions to CPP might make it possible. Another advise: if you worked and live in Canada but also worked in another country, are at the retirement age in that country, don't qualify based on your contributions to the other pension plan, and Canada has signed a social security agreement please apply for your foreign pension through Service Canada and not directly to the other country's pension office. It will take much less time as Service Canada still has to confirm your years of contributions to CPP. All the best!
We were actually talking about doing top ups for a UK 🇬🇧 pension not Canada 🇨🇦, our work history has been spilt between the UK and Canada so we get pensions from both places Alicja . Have a great week and thanks for watching Cheers 🍷🌺🍺
Our plan is for age 60/58. We need to save a bit more and get our dividend snowball to where we need it. With a bit of luck we’ll go sooner but we’re waiting to avoid a reduced defined benefit pension plan. I expect we will make up the travel opportunities fairly quickly once we do retire.
Sounds a great plan James we wish you well Cheers 🍷🌺🍺
I thought you might announce topics which may relate to me, but I'm single and have to work until age 70 for a decent social security check. I never owned a home and my stress level is minimal and under control, mostly. I've been tracking my social security for about six years which works for me because I've seen big improvements over those years. At age 70 (which is 46 days away), travel insurance isn't an option.
Congratulations 🥳 on nearly 70 Terry , whether you are single or not being retired is a wonderful new chapter in your life and we wish you well only 46 sleeps 🛌 to go Cheers 🇺🇸🍷🌺🇨🇦