My First 2 Years in Unplanned Retirement

In the final week of September 2020, my manager called me into his office and delivered the news I hadn’t expected: my services were no longer required. I was 60 years old. While Canada has no official retirement age, 65 is the de-facto standard since that is when government benefits begin. I had considered retiring a year or two early, but never at 60.

Life soon became even more challenging. Since mid-2020, my wife had been facing health issues, and by early November, she was diagnosed with cancer. Her recovery would require a long road of surgery and chemotherapy. As COVID-19 cases surged simultaneously, my priorities shifted instantly: I stopped looking for work and dedicated myself to caring for my wife and our home. (I am happy to share that after treatment, she is now back at work.)

These circumstances forced me to re-evaluate my life. Should I continue working until 65 just because it’s the social norm? Or should I retire now and enjoy my time while I am still healthy? I analyzed my finances and realized I was in a reasonably good position: my small house was paid off, my children were grown and working, and my RRSPs and savings — combined with future government benefits — would be enough for a simple, comfortable life. (After all, I don’t need to travel the world to be happy!)

What did I gain?

Time, freedom and peace

Without the 9-to-5 grind, I no longer wake up early to battle “crazy” highway traffic. This is especially sweet during Canadian winters; I no longer have to shovel the driveway at 5:00 AM just to get the car out. Now, I shovel at my own pace in the daylight.

Appointments for myself or my elderly mother — dentists, doctors, mechanics — are no longer a logistical nightmare. I can take any time slot during the week, rather than hunting for late evenings or weekends. I grocery shop when the produce is fresh, and the aisles are empty. Even vacations are easier; I can book the cheapest flights without waiting for a manager’s approval.

Health and Hobbies

My health has become a priority. I practice meditation, yoga, and running daily. Because I own my schedule, I can simply shift my workout if it starts to rain or snow. This active lifestyle has kept me in excellent health and allowed me to explore nature more than ever before.

In the summer, I spend hours tending to my garden, growing tomatoes, cucumbers, zucchini, and herbs for our table. I’ve also embraced new hobbies, like cooking, music, and writing on Medium. Though I am a software developer by trade, I still keep my mind sharp by learning new coding skills and developing software for fun.

The availability of free time has helped me develop new hobbies, including cooking, music, reading books and writing for Medium. By profession, I am a software developer, and I still keep my brain active by learning new skills and developing software for practice and fun.

It is just over two years since I last worked in an office, and so far, I am enjoying my unplanned retirement. I have not felt a single moment of boredom or regretted not going to work. My new lifestyle has almost eliminated stress from my life and made me calm.

Did I lose anything?

Not really.

I can’t think of a single thing I miss about the office environment — except, perhaps, the occasional “unwarranted grief” from my boss! While I no longer receive a regular paycheck, I’ve realized that much of that money went toward materialistic goods I didn’t need or investments I might never use.

By stepping away, I am also leaving a job opening for someone who truly needs it. Working extra years just to leave a larger inheritance for my children didn’t seem like a convincing enough reason to stay. I truly believe that an active lifestyle in my 60s is the best investment for a better life in my 70s and beyond.

Conclusion

Choosing early retirement — even though it wasn’t my original plan — has led me to a stress-free, fulfilling life. I am not suggesting everyone should quit their jobs tomorrow, as every financial situation is unique. However, if you find yourself at a crossroads, I encourage you to give retirement a fair look. You might find that you aren’t losing a career, but gaining a life.