The decision

March 8th, 2013 International Women's Day

It must have been about nine years ago when I attended a retirment seminar when things started to form in my mind that 'yes' one day soon I would be retiring. Through the course I jotted down many different bits of information that was being handed out. I was always of the mind that "Freedom 55" was a great thing to work towards, so the money has slowly been building in the RSP account. At the time I started my RSP I was actually working at the CIBC, had taken my Canadian Securities course so felt confident that freedom was indeed within my grasp and that I had the right tools to make it so.

Up until going to work for the Federal Government I didn't have a superannuation and my RSPs were to carry me through. Then I went to work for Parks Canada and suddenly there would be a pension in addition to what I had already been saving. But still would it be enough?

After taking the retirement course I realized that what you needed to have put aside was what you would need for the life you wanted to live once you were no longer working. If you wanted to live like a millionaire then you would need a milllion dollars. If I want to keep living the way I have been living then I would need enough to be roughly equivalent to what I was making at the highlight of my career. You also need a good investment advisor to help guide you through making the wisest decisions on how to invest your money. That I had!

He brought me and my portfolio through the recession which was extremely disconcerting. I'm sure some of you went through the same thing. Pick up your monthly investment report and "oh great I lost $8,000 last month. Hum, add that to the $5,000 the month before and the $2,700 the month before that and I was starting to think Freedom 65.

But with patience both my RSP and I survived and have more than recouped the losses. Yeah! back on track. So after everything is said and done, my retirement is now only weeks away.

Everyone is saying - You must be excited - well I am, but I am also terrified, happy, sad, the list goes on. This is probably the biggest decision of my like, but it is also the most planned event of life. And that is because I started early. In my mid-twenties, just putting a little aside each month, every month come hell or high water. And I have never in thirty years taken money out of my RSP. To me, once it went into my self directed RSP I basically did not look at it as an option if cash was short. This has been a good decision!