Angie Beynon, pictured in Nanaimo, B.C., retired 10 years ago from the IT industry. 'It was the best job I’d ever had – and it paid well – but I just stopped having fun,' she says.Chad Hipolito/The Globe and Mail
In Tales from the Golden Age, retirees talk about their spending, savings and whether life after work is what they expected. For more articles in this series, click here.
Angie Beynon, 62, Nanaimo, B.C.
I retired in January, 2015 at 52 years of age after working in information technology (IT) for 30 years. My last job was working for a company that supplied the IT infrastructure for a bank. It was the best job I’d ever had – and it paid well – but I just stopped having fun.
Time is my most precious commodity, not my finances, and I felt there must be a better way to use my time. My second husband is a lay minister, and we both hold active volunteer leadership roles in our church. I wanted to do more of that.
The first few weeks of retirement felt like an extended vacation. We travelled to Maui, which was wonderful. Then I got busy in our ministry. I got a theology diploma and took several courses on marriage and financial coaching because we began to realize that, as people were recovering from issues such as addiction, they needed support in these areas.
We had a daughter pass away tragically in May, 2018 and wanted a fresh start, so we moved from Edmonton to Nanaimo in September, 2020. The first year was challenging because of the pandemic shutdowns. It took us longer than expected to find activities and establish relationships. But we’re settled now and consider Nanaimo our home. We enjoy a healthier outdoor lifestyle here and see each day as a gift.
When I retired, I had a gut feeling that I would be okay financially, as I always earned more money than I spent. As a teenager, my dad taught me to save and invest my money, and I maxed out my RRSPs and TFSAs throughout my working years.
When I started working at 24, my goal was to retire at 40. Then, I got married and had two kids and realized that might’ve been too ambitious, so I pushed my goal to 50. I got divorced at 48 and wasn’t ready to retire at 50. I wasn’t sure what I was going to do and didn’t want to quit without a plan.
I realized a few years after retiring at 52 that I probably should have had a financial plan before I stopped working. About three years into retirement, my now husband and I consulted with an advisor, who confirmed that we have more than enough money to live comfortably, based on our lifestyle and expenses.
We also started a budget for the first time. At the beginning of each year, we first decide how much we want to give to various charitable causes and then how much we want to spend on things such as vacations. We then allocate the remaining funds for everyday expenses.
Having a good budget means we don’t have to worry about money. We are not planning to take CPP or OAS until age 70, but we will revisit that decision when we turn 65.
I encourage people to start thinking about retirement years in advance, starting in their 30s and 40s. Budgeting is a big part of that plan; it feeds into the dream of retirement. I also think that if people can afford to retire, they should do it. You only need so much money.
As told to Brenda Bouw
This interview has been edited and condensed.
Are you a Canadian retiree interested in discussing what life is like now that you’ve stopped working? The Globe is looking for people to participate in its Tales from the Golden Age feature, which examines the personal and financial realities of retirement. If you’re interested in being interviewed for this feature and agree to use your full name and have a photo taken, please e-mail us at: goldenageglobe@gmail.com. Please include a few details about how you saved and invested for retirement and what your life is like now.