The secret to a worry free retirement is good $$$ management. It was always preached to us that you needed half a million $$ stashed away to get by. Coming up to retirement, I was worried about that, because I was certainly not in that position. But, if you multiply your expected value of your annual pensions, by the years of your life expectancy, that figure is approachable. We built a new home in 2003, but got that paid off before we each retired (my wife was a year after me). I bought a used low mile Magnum R/T wagon early in 2008, just before that recession hit. That event played hell with our RRSP savings, but I got the car paid off before I retired. After my wife retired, we decided that we no longer needed two vehicles, because we rarely needed to go in different directions at the same time. We sold her PT Cruiser and my Magnum and bought a year-old ex-Enterprise rental 2015 Durango at a great saving. This SUV served us well for 6 years and we traded it in on a well equipped Grand Cherokee last year. Again, a great saving on this one owner low mileage vehicle. In retirement, this is the only bank debt we have. We both agree that we feel we have more disposable income now, than when we worked every day. Of course, it does not cost as much to live in retirement, because, if you have done it right, you have everything you need by that time. I still have funds to complete the restoration of my '64 Polara, and enjoy it and my '67 R/T. Life is good! Do not fear retirement. After 40+ years of working, you have earned it.
