This retiree finds happiness volunteering for organizations aligned with his last job and interests

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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.

Christopher Terry, 77, Port Hope, Ont.

I retired in June, 2008, at the age of 60 after working for 37 years at two different federal Crown corporations. My last job was president and chief executive officer at what was then called the Canada Science and Technology Museum Corp. [now known as Ingenium] for eight years. Before that, I was head of the Canada Aviation and Space Museum and before that, I worked in various management and research roles for the Canada Mortgage and Housing Corp.

I retired because I had reached the point at which I had done as much as I wanted to at work. It was my time to go. My wife, who worked at the U.S. Embassy in Ottawa, stayed for a couple of more years after I retired. In 2012, we moved to Port Hope from Ottawa to be closer to our children, who live in Toronto.

My transition to retirement was smooth. I continued to work as a volunteer with many of the same aviation organizations that I was engaged with at work. My quip was that I had half a dozen part-time jobs but was paid for none of them.

I am in the process of retiring from some of my volunteer jobs to free up time for other activities, including completing a monograph about an aircraft type used in Canada in the 1920s. I’m also archiving a large collection of images of aviation subjects that I have created over the past 55 years, which will ultimately be added to the collection of a national museum.

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I don’t worry about money in retirement. I was fortunate in my financial planning. When I left the first Crown corporation after 17 years, I took out my commuted pension and purchased an annuity that compounded at 11 per cent. I could have left it with the organization, but that rate of return was too good to pass up.

In the second Crown corporation, I became part of the public service pension plan, which provides a defined-benefit pension. Our investment portfolio has done pretty well, and our pension income is indexed, so inflation isn’t a big concern, although we keep an eye on it. With my advisor’s encouragement, I have kept my nerve through market fluctuations over the past few decades. We live comfortably but without ostentation. We have no debt.

For me, the challenge in retirement is taking on too much, but in general, I can’t think of anything I would’ve done differently given my interests and involvements. I must admit that now, in my late 70s, I no longer have the physical ability I had when I retired.

My advice for people approaching retirement – and especially those who define themselves through their work – is to identify a cause or organization in which their talents, skills, and knowledge can be put to good use as a volunteer. Being with like-minded people is great fun and gives a sense of purpose. It’s a great way to meet and make new friends. It has sure worked for me.

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 seeking individuals to participate in its “Tales from the Golden Age” feature, which explores 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