Retired: Steve from Kitchener

1964 Ford Fairlane Convertible Source: Daniel Schmitt & Co. Classic Car Gallery

When did you retire?

I began full time employment at the age of 16. In my early ‘20s I made a commitment to myself to retire at age 60, which I did on my 60th birthday in 2006. For the last 12 years of employment I was a Senior Collection Specialist for Hewlett-Packard.

In 2006, Hewlett Packard (HP) was one of the largest technology companies in the world, with a focus on producing personal computers, printers, and imaging equipment. In terms of financial performance, HP was doing well in 2006. The company reported revenue of $91.7 billion for the year, up from $86.7 billion in the previous year. Net income was $6.2 billion, up from $2.4 billion in the previous year.

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

I have no bad habits. (This is my personal opinion only). I have many hobbies, which include antiquing, collecting die-cast model cars, building plastic model cars, collecting antique stereo view cards and viewers, small oiler cans, Ford Model A and T tools, etc. We also love road trips! Through my 17+ years of retirement, I have never been bored.

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

Together, my wife and I started our retirement with around $750K

The purchasing power of $750,000 in 2006 is equivalent to about $989,981 in 2023, due to inflation and the rising cost of goods and services over time.

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

No shocks at all. Planning pays!

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

I’d buy that 1964 Ford Fairlane Convertible 390 4-speed for $3400.00. But then maybe that would have tanked my plan to retire 59 years later - so I’m good!

DID YOU KNOW: The Ford Fairlane was a mid-size car that was produced by the Ford Motor Company from 1955 to 1970. The Fairlane was named after the famous Henry Ford estate in Dearborn, Michigan, and it was designed to be a stylish, affordable family car with good performance and handling.

Over the years, the Fairlane was available in a variety of body styles, including sedan, coupe, station wagon, and convertible. The Fairlane was also offered with a range of engine options, including straight-six and V8 engines, and customers could choose from various transmissions, such as a three-speed manual, a four-speed manual, and an automatic transmission.

One of the most famous Fairlane models was the 1964 Fairlane 500 Sports Coupe, which featured a sleek and sporty fastback roofline and was available with a range of powerful V8 engines, including the 427 cubic inch "Thunderbolt" engine that was used in drag racing. The Fairlane was also available as a convertible, which was a popular choice for buyers looking for a stylish and fun-to-drive car.

Overall, the Fairlane was a popular and successful model for Ford, and it helped to establish the company's reputation for building affordable, high-quality cars with good performance and style. Today, the Fairlane remains a popular collectible car among enthusiasts and fans of classic American automobiles.

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