Off-Topic Questions for Retirees

[FirmDancer]

Originally Posted by donellda

We are still working out the finances. I get social security and a small pension but mostly we are depending on my 401ks and RRSPs here in Canada. We have enough but trying to figure out what to do with it and how to keep a cash flow is a challenge. My father left me enough inheritance to pay off our mortgage which was a huge factor in our decision to retire. Now if we can only get rid of this pandemic so we can continue our life.

Condolences on your losses; very sad time for you.

As far as establishing cash flow, etc. I highly recommend The Budget Mom. Her system really helped me get organized with my day-to-day spending, but also how to set up "sinking funds" as she calls them - how to save/set aside for all those recurring expenses that may come quarterly, bi-annually, or annually. Up until I planned retirement, my expense tracking was a mess. With less income, I had to become more organized, quickly. I used to hate paying bills and doing finance work, but with her system, it's actually fun!

[TracyQ]

Originally Posted by FirmDancer

This is awesome!

Thank you. I knew I didn’t want to go back to office work but I couldn’t figure out what I wanted to do. When I read about this position I felt like it would be something I would enjoy. I haven’t had a summer off in over 40 years so am looking forward to that too.

[TracyQ]

Donnellda—my sincere condolences. You deserve to retire after 40 years.