Saturday, November 11, 2023

Another stage in life..........



We're entering another stage in our lives.  To be honest, we have been preparing for this for a number of years, but now we're on the final countdown to hubby retiring.

In fact we are around 325 days until his last day of work, give or take a week or two either side of the September 2024 expected retirement day.  The leaving date is not fixed in stone yet, and won't be until probably next April/May.  There are a number of factors in play with this, and it's mainly to do with banked hours and vacation pay.  

One of hubby's co-workers retired last year in October and got paid through to the end of the year, as he had banked hours and vacation pay owing.  Both hubby and I think this is a good idea, and we may as well get health benefits until the end of the year.  

That is something we have to look into, as I won't be 65 for another four years after hubby retires so I will have to pay for all medications out of our own pocket.  Hubby's will be covered; less $100 yearly payment, by the Government.

Looking at the graphic above, I feel we are the people not pictured there, there should be another person, between the far right one and the second to the far right.

One thing I think we all probably think about is how much time do we have left on this earth?  When doing a financial plan they plan it with an expected life expectancy of 90.  So I guess we are two thirds through our life expectancy.

Bit of an odd post, but something I was thinking about today.

Regarding, hubby's false tooth having a hole in it, we have no idea how it happened.  It cost hubby $250 though to have it replaced as he has used the $2,000 we can spend on dentists this year through our insurance.  Never have we ever used all the money allocated in a year for a dentist in all the years we have been in Canada.  Also, the dentist waived his fee.  The price at dentists has shot through the roof.  I hope that one day, the government will cover dental visits for seniors.

10 comments:

Joy said...

I think quite a lot about it too - I guess it is normal and I'm a bit older than you. Recent events have brought it home to me that we just don't know how much time we have left so I'm doing my best to make it good in my own simple way.
xx

Magpie's Mumblings said...

In our experience, don't believe the so-called experts that tell us we have to have tons of money saved in order to retire. Not unless you want a lavish life style that involves lots of travel and eating out at high class restaurants. We've managed quite well with DH's pension from the hospital on top of the OAS and CPP he gets. I get OAS but only a very small amount from CPP due to being a stay-at-home mom and therefore not 'contributing' to it.
None of us know how much time we have left and I try to be grateful for every day.

50 and counting said...

I am in the same position as your husband. Nine months till my 65th birthday.

My Manager has asked me to stay on. I went part time this year, to get used to the idea of retirement.

She and the husband don't feel that I'm ready to retire. He should probably know, because he retired at 60 and spent the first two years trying to figure out his new life.

It's a hard one to figure out. I guess I will know next year.

Jackie said...

Yep dentist seem to be charging an arm and a leg now. Just glad for the extra insurance we have that covers yearly stuff, fillings and cleanings.

Wish the government covered our prescription costs, but we have pretty good coverage with our extra insurance. Amazing how things differ across Canada.

God bless.

Gemma's person said...

My husband died at 67. Honey , don't live for tomorrow , live for today!

Chris said...

Sorry to hear about your dental problems. I haven't noticed the cost of dental care increasing recently, fingers crossed it stays that way! I've been retired for 16 years and never been happier!

Scarlet said...

My dad died at 55, and my father in law at 61. That had a massive impact on decisions we've made through the years. My husband semi retired at 55, cutting back to 3 days. I've now had 3 years more life than my dad, who was a workaholic, and J is the same age his dad was when he died. Quality of life has always been important to us, hence his decision to semi retire. We may not have loads of money, but we're happy.

Chris said...

Sounds like you are prepared for what lies ahead. I've been retired for 16 years and initially did quite a bit of travelling funded by part time work. Now I lead a quieter life, look for inexpensive or free activities and have found lots! No need to lead a lavish life style to enjoy retirement.

SilverSands said...

Your post addressed exactly what I needed. Grateful for your relevance.

William Kendall said...

I've put money into RRSPs in addition to my workplace pension.

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