Rick Evans was worried about being bored in retirement, but that hasn’t happened. 'I have a long list of tasks I enjoy doing at my own pace,' he says, including maintaining his backyard pool.Aaron Hemens/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.
Rick Evans, 74, West Kelowna, B.C.
I retired in 2022 at the age of 70 after a decades-long career in the railway industry. Early in my career, I worked for Canadian Pacific Railway in various maintenance and operations management roles. At 49 years of age, I started my own railway operations management consulting business. I semi-retired in 2020, when I was 68, and stopped working two years later.
I worried I might be bored in retirement, but that hasn’t happened so far. I have time to putter around the house and yard. I have a long list of tasks I enjoy doing at my own pace. For example, I recently refinished our large oak kitchen table. I also refinished our garage door. We have a backyard pool that needs regular upkeep in spring and summer.
I’m also a car guy and like to attend car shows and follow the automotive market. I have a rare, modern collectible sports car – a 2011 Tesla Roadster Sport, the car that started the EV transition – that I enjoy driving and maintaining to keep it looking good.
Rick Evans with his 2011 Tesla Roadster Sport.Aaron Hemens/The Globe and Mail
My wife, a former teacher and librarian, retired five years before I did. We travel a lot, including a recent trip to Portugal and Spain. We also golf regularly, both together and separately, in different leagues. We walk almost daily and occasionally snowshoe in the winter.
We don’t worry too much about money in retirement, but we’re aware of how inflation can impact our cost of living. However, we tend to spend less in retirement because we no longer have work-related expenses such as commuting, work clothes and eating out.
We don’t eat out very often in retirement, except on special occasions, simply because we enjoy cooking and can eat at home for a fraction of the cost. We also shop wisely for groceries and have more time to research prices.
We manage our own investments, which saves money on investment fees. And now that our children are grown and have moved out, we have more discretionary income.
If I had to do it over again, I might have retired five years sooner, at the same time my wife did, but we’re happy with how it worked out. It took a year or so to adjust fully to the new reality of having so much more time for non-work-related things, but it has been a nice problem to have.
My advice to others considering retirement is to do it as early as you can because it’s a fantastic job. That said, make sure you have a financial plan that accounts for inflation because it can have a big impact, depending on your lifestyle.
Also, stay physically active. Strength and balance are critical as you get older (as my kinesiologist daughter likes to remind us). I recommend playing a sport if you can; it’s good for your health and keeps you socially active, too.
This interview has been edited and condensed.
Attention retirees! Are you a Canadian retiree interested in discussing what life is like now that you’ve stopped working? The Globe is seeking participants for 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 about how you spend your time. We look forward to sharing your story with our readers.