Retired: Linda from Orillia

Who's ready to golf 3 times a week?

When did you retire?

In 2004, my husband and I both retired. I was 55 at the time. I had been in cosmetic sales for most of my career, firstly working for Hudson's Bay, then later becoming a sales rep for a fragrance and cosmetic company called Coty.

In 2004, Coty was a global beauty company with a portfolio of well-known brands in th fragrance, colour cosmetics, and skin and body care categories. Some notable brands at the time included Calvin Klein, Davidoff, Celine Dion, and Rimmel.

Now that you're retired, what does a typical day look like?

I like to golf three times a week during the summer. I have recently downsized, moving into a new place. I have spent the winter months making it my home. I wish I walked more this past winter, but I haven't met anyone in my new neighbourhood yet to walk with. I typically have the TV on from about 4PM to 10PM each day. I've also picked up acrylic painting which I try to do once a week. I still knit and quilt weekly.

According to Golf Canada, more than 5.8 million Canadian Adults played golf last year.

Not including your primary residence, how much would you say you started retirement with?

Together, my husband and I started our retirement with over $400K

Adjusted for inflation to 2023 dollars, $400k in 2004 is equivalent to around $540k today. According to the Canadian Association of Retired Persons (CARP) the average Canadian has saved just $345k. This amount may not be enough to cover retirement expenses for everyone. Individuals should consult a financial advisor for more specific info.

What was the biggest shock to you with regards to your finances?

There was no shock. My husband planned for our future.

If you had a time machine, what would you do differently?

Originally both my husband and I thought we should have worked an additional 5 years before retiring. Since my husband passed away 2 1/2 years ago, I'm so happy we got to spend his final time together instead of working. We have a wonderful family, I'm truly blessed.

The difference that working an additional five years before retirement can make is significant. Not only does this delay the use of retirement savings, but it typically adds annual income from the highest-earning potential working years, as well as increases the amount of CPP and OAS upon retirement.

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