Weekend Reading – Retirement is not an age
Well hello!
Welcome to a new Weekend Reading, suggesting that retirement is not an age, at least for me.
More on that in a bit and my inspiration for the post this week.
In recent reads you would have found on my site:
Here are more than 3 stocks and ETFs we bought so far in 2025.
And…a reminder I think you should avoid spending regrets. This includes on your beloved pets.
Weekend Reading – Retirement is not an age
I’ve been writing about our personal finance journey, the good, the bad and the in-between for the last 16+ years here. I’m not shy about my mistakes – I’ve made a bunch! Nor, do I shy away from some of our fortunate success stories. Everything has brought me to here.
Life is for the living and the learning…
My co-workers now know I will be retiring at the end of March 2026. So do you.
I’m certainly looking forward to that date and figuring out what’s next.
I’ve thought this way for decades, since I’m retiring from my workplace career sooner than most, but to me retirement is not an age but a financial number and therefore a lifestyle decision. But I can appreciate many people don’t see it that way. For some evidence, here are some recent, verbatim comments after my announcement at work came out – although everyone seemed very happy for me at the same time which I really appreciate. I have a lot of caring co-workers who I respect back too…
Mark, what are you going to do with your time?
Geez, you’re too young to retire!
Do you think you’ll ever come back?
Do you think you’ll ever work again?
Won’t you be bored?
I don’t know all the answers to these questions…some are tough ones to answer.
But, I will be fortunate in that I will have some extra time and energy to figure it all out. 🙂
And to me, for us (since my wife is now retired), that’s exactly what retirement means to us – a lifestyle decision based on what we intend to spend (with a bit more money saved for emergencies, some extra money for buffer in a financial future we can’t see coming…)
You’ll remember this post below, and I encourage you to check it out again since this is what we intend to spend per year – it’s the foundation for our early retirement decision and not waiting until age 55 or age 60 or even later – even though working longer would mean much more money. That’s hardly everything to us. It’s not our goal in life to have more and more…
Is that annual budget too low? Too high?
We’ll find out in spring 2026.
The good news is based on recent spending patterns in 2024 and 2025 year to date, most of this income will be covered by a mix of dividends and distributions from our portfolio – cashflow from the portfolio. That spending decision may or may not be the same for you.
Our retirement income planning projections work has demonstrated that our portfolio is now projected to deliver our desired annual income per year, with 3% inflation, until age 95.
In the coming years, I will refresh that post to share some spending actuals vs. initial estimates and see how far off we might be. Our real life could be very different than living in some spreadsheet! 🙂
How do you feel about retirement or retirement income planning? Is that an age related thing? Do share.
Weekend Reading – Beyond retirement is not an age
My friend at @DivGrojourney wondered about my take on this ETF: FLVI (Franklin International Low Volatility High Dividend Index ETF).
Compelling recent performance data but there is short market history here – a huge bull market on its side – only been around since last spring 2024. Interesting geographic tilt too = >50% Europe and >30% Asia stocks.
Personally, I’m biased, I like my low-cost growth ETF for ex-Canada in XAW. Boring, lazy, easy to contribute to in CDN $$ and designed to offset the bias I have had over the last 15-years to my mix of Canadian stocks that deliver growing income.
I started buying XAW in 2016.
I’ve only added more units over time leading into 2026 retirement to simplify our retirement income plan.
Nice Q&A with some friends of hybrid investing like me – Dividend Daddy is retired and travelling the world on his dividend and distribution income.
Cashflow is always king.
Interesting takes from Jon Chevreau’s site – what sort of retirement are you pursuing?
- Mini-retirement – requires dedicated savings and small investments to cover a short break.
- Semi-retirement – requires ample savings and investments in order to scale back at work.
- Early retirement – requires significantly more savings and investments to leave the workforce early on your own terms. (What I have always aspired to do.) This means you do not have any government benefits like CPP or OAS to use until your 60s (like us).
It reminds me of this post on my site: Why Fat FIRE is not realistic for many unless you want to make some frugal choices throughout your 30s and 40s and/or you have a good salary coupled with a high, disciplined, sustained savings rate for investing…while avoiding financial piranhas in the process that charge you high fees.
Over at Cashflows & Portfolios, my partner Joe and I wrote this including some items we both continue to work on ourselves as early semi-retirees. A reminder I continue to honour a 10% discount to all readers for any support with your retirement income planning projections along with a 50% discount (not a typo) to all returning DIY investors who wish to have a few projection reports refreshed after working with us. We are happy to do so of course.
7 Essential Items as part of your Retirement Planning Checklist
From my oldie but goodie collection of posts I tend to revisit…
A Wealth of Common Sense answered the question: why does the stock market go up?
“The stock market goes up over time because businesses get bigger and earn more money over time. If you own stocks, you earn a piece of that growth. The stock market also goes up over the long-term because sometimes it goes down in the short-term.
And if you think about it — the stock market has to go down. It wouldn’t offer such juicy returns if you didn’t get your face ripped off every once and a while.”
Dividend Growth Investor shared a number of companies raising their dividends of late – cash machines, including a Canadian stock he likes in his list. I own it too.
A smart list of all-in-one ETFs to consider owning. I continue to mention here that when in doubt, low-cost all-in-one indexed ETFs are a great way to invest some or all of your portfolio assets to help meet your investing goals.
You can find My Dividends thoughts here.
You can find those all-in-one thoughts on my standing My ETFs page here.
Good analysis by John Heinzl in The Globe on the Telus dividend and a potential cut coming. From John, which I fully agree with as a small shareholder in this company at the time of this post:
“With an already rich yield and a balance sheet under pressure, Telus may be wise to focus less on dividend growth and more on debt reduction and investment. Investors should view a pause or slowdown in dividend hikes not as a red flag, but as a sign of discipline.”
Sometimes, cutting the dividend is wise for a company’s overall financial health – for better long-term shareholder value.
And finally, I’ve read a few interesting articles of late about too-large RRSPs/RRIFs; RRSPs/RRIFs have lots of myths, etc. A bit clickbaity for me. Full stop: large RRSPs/RRIFs account balances are a great problem to have. Just like OAS clawbacks are a great problem to have in retirement. Much better than the alternative = not having a very large RRSP/RRIF balance at all.
RRSPs/RRIFs are just tools in your wealth-building toolbox like other accounts.
Happy investing towards your too-large RRSP/RRIF, too-large TFSA or any other account that might grow too large too. Nice problems. I support you!
Thanks for reading, and have a great weekend.
Mark
Congratulations, Mark, on letting your employer and coworkers know that you’ll be heading out the door soon. I’m curious to hear if this news changes things for you, especially when you’re sitting in the next annual planning meeting. In my case, I didn’t notice much difference in myself until the final month, but I definitely noticed a change in others. There were comments like, “You’ll be fine, you won’t be here,” and a bit of jockeying for my position. Otherwise, life carried on pretty much as normal. I suspect it’ll be similar for you.
If I’d been asked those four questions, my answers would have been:
• “You’re too young to retire!” – Maybe, but I’m happy to give it a go. (I was 57.)
• “Do you think you’ll ever come back?” – No!
• “Do you think you’ll ever work again?” – Also no!
• “Won’t you be bored?” – Definitely not.
And now, just over five years into retirement, here’s the reality:
• The timing was perfect for me. I had built up just enough extra savings to give us a solid buffer – comfortable without being excessive.
• Other than answering the occasional question (like “Where’s the company stamp?”) and offering moral support when the workload seemed impossible to manage, I haven’t gone back.
• Beyond sitting on one interview and selection panel, I haven’t worked at all, unless you count all the work I’ve done on our house, and that’s been significant.
• As for boredom? Absolutely zero. There’s always something to do and never enough time to do it. This past month alone we’ve been revising our wills and digging into estate planning: trusts for the grandkids, ensuring RESPs and life insurance bypass the estate, and so on. There’s always something new to learn, which keeps life full and interesting. And, I don’t have a blog!
Thanks very much – transitioning from saving to spending mode in 2026 I guess?!
Work will go on without me, it went on before I arrived too! Just the way it all works. 🙂
LOL with your replies: I enjoyed those.
It will be interesting to see if I have the same reflections… re:
Was the timing right, do I leave too soon?
Was I mentally ready for the shift?
I doubt I will be bored. I will keep the blog for 2026 for sure…we’ll see after that.
I hope to increase my fitness level more…some time will be valuable for that.
Sounds like you’ve been very busy!
Mark
hi been following you for quite a few years and have gained a lot of knowledge from you thanks for that. On your cash wedge would you consider keeping it in any ETF’s like XFR or XCB that even in bad stock market decline the damage to these seems to be minimal and they give you a better return than GIC
Thanks, Roland. Nice to hear from you…
I have considered that, I have dabbled in the past with some ETFs like that but I have since simplied things by owning a mix of either GICs or money market funds or HISA (high interest savings) for our cash position. In doing so, predictable, liquid for the latter two and simple.
In keeping this portion of our portfolio in cash/cash equivalents, we’re about 90% equities otherwise in a mix of stocks and ETFs for income and growth.
I hope that helps but certainly some small % of those ETFs can work for others.
Mark
Congrats again Mark! Just like you recently wrote about “no spending regrets”, I’m sure you will have no regrets on pulling that retirement trigger! You’ve worked hard to get to this point in your life – so now it’s time for you and your wife to enjoy the fruits of your labour! As you know, I retired about a year and a half ago and I have not regretted in one bit! In fact, I was reminded this week just how fragile life can be – a friend of mine in our old-timer’s hockey league passed away suddenly (in his early 50s) and just like that – he won’t be able to enjoy the “fruits of his labour”. Still in a bit of shock – but it reinforces my retirement decision – because you just never know! Take care.
You have done so well for yourself, MikeyP. Well done…
Yes, life is fragile for sure. It is my hope I/we live a great, healthy, long life but never any guarantees…
Thanks for your kind words and I enjoy your comments. Continue to enjoy your well-earned retirement.
Mark
I’m beginning to wonder if the ability to “retire” is beginning to see a fairly rapid evolution. Being a Boomer, we were inundated with the Freedom 55 concept. And for a large number of us, it was at least a strong possibility. For the following generations, I’m not convinced that they will have it as good as we did/do. So ya, retirement may very well be tied to attaining an age for most people going forward. And that age will likely be when they become fully eligible for government retirement benefits.
We were fortunate to have lived in the era we did.
You are very fortunate. As am I.
I will only know if this “retirement thing” works out or not, if I try.
I figure if the cashflow from our portfolio at 5% returns annualized, on average, delivers more than our spending needs, that’s pretty good, that was always my financial independence target.
That’s before CPP, before OAS and before any small workplace pension kicks in, in another 13 years.
That’s not too bad?
Thoughts on that?
Certainly working another 1-2 years, let alone more to age 55 or 60 would have given us much more money but that’s also a few more years whereby I have to ask for vacation and ask when I need to arrive or leave work for certain things. Not having to ask at all seems very appealing to me moving forward.
I have no doubt in my mind that Boomers had it very, very good when it comes to jobs and the cost of living.
Mark
It took a long time, but after twenty years of retirement I think I’ve finally learned the value of patience in investing. Up to a couple of years ago if we had a dividend cut in our all-Canadian portfolio in the non-registered account, I would automatically sell. Now if there’s a dividend cut I just shrug my shoulders. In fact, at some point I may even add more shares to that same company or if not, perhaps another dividend paying company on our watch list that’s presently out of favour.
Good to see you and your wife are finally retiring, Mark.
I would think you’ve learned that a long time ago – you seem quite humble.
I recall your Canadian stocks deliver more income in any given year than you can spend, is that correct?
If Telus, as an example, cuts their dividend I am likely to add more/buy more.
I appreciate your kind words and comments. They are welcome and make me think. 🙂
Mark
Hi Mark,
Yes, all our dividend in the non-registered we can re-invest into more shares of Canadian dividend paying companies. Sometimes we can even add some savings from our pensions.
It’s all there in the book “The Richest Man In Babylon” published a century ago.
Occasionally I’ll look at a youtube channel from England called “The Compounding Investor” for inspiration. He’s much the same as over on this side of the pond, except he’s invested in individual British dividend paying companies along with a few ETF’s.
Have a great weekend.
Great stuff.
That is impressive: “Yes, all our dividend in the non-registered we can re-invest into more shares of Canadian dividend paying companies. Sometimes we can even add some savings from our pensions.”
You must be doing OK with your stocks. 🙂
How many positions are you at with those again?
I recall you had something like this a while back but not sure…
1. Non-Reg. x2? = I recall you had some 30-35 all in Canadian stocks? (Seems smart to me for growth, income and dividend tax credit.)
2. Your TFSAs used to be / still are XDG for lazy growth?
3. Your RRIFs (older than me :)) you have ZBAL for balanced, lazy, growth.
Thanks for the link to that channel, I will check that out…
Cheers,
Mark
Up to thirty seven Canadian companies now in our non-registered invested into various sectors.
Not trying to outperform the Canadian market. Just continuing to compound with any cash available using a mostly buy and hold portfolio we’ve built over the last two decades plus. I tend to keep away from crowd following and mostly purchase what they are avoiding. More of a contrarian nature. When I got enthusiastic with the hot stocks back in the late 90’s I paid the price with the dot com implosion a few years later.
Yep, you’ve got that right Mark as regards to the registered accounts.
Cheers.
Amazing…so well done. 🙂
Mark
First thing to do in retirement is to learn how to say no to invitations to help with volunteer organizations. Too late for me but running a curling club and acting as club captain at the golf club were effectively full time positions.
When the pensions kick in it is nice to wake up on the first of the month ad think ” That’s it, I have been paid again”
I must admit to being cautious at the moment with a number of GICs and short term bonds that should guarantee cash flow for the next few years. It will be interesting to see if your approach varies in the next few years when there is no salary to fall back on.
Very fair, Richard. I hope to volunteer some but I have to be willing to be partial to my own time and energy too.
Sounds like you are very busy!
I am also cautious at this time when it comes to the stock market – we now have enough saved up (I think?) to cover all of 2026 and 2027 spending needs without selling any capital. At least that is our plan.
So, like you, GICs and short term bonds that should guarantee cash flow or provide withdrawal for the next few years.
Indeed: “It will be interesting to see if your approach varies in the next few years when there is no salary to fall back on.”
Does your portfolio provide most of your income without selling anything these days?
Mark
Ha with the comments. I can relate well from when I pulled the plug, a couple of years later than you, after several years PT and my wife already retired. I had quite a few people with somewhat negative or doubtful comments, but plenty with positive warm comments and wishes though too. You have numerous interests, are resourceful and inquisitive and IMHO simply won’t be bored at all. The world is your oyster.
I have no doubt your numbers and expectations are quite conservative. I suspect you’ll really be living it up in retirement. Well done Mark.
You are very kind and have been a good money mentor to discuss concepts with over the years. I’ve learned what I can, from you, others, and tried to tailor my own path as best I can…
Sure, a few snippy comments from work but those are very rare – generally folks are very happy for my decision and I sincerely appreciate that.
Yes, we probably remain conservative but that got us this far in life and I suspect if 2026 or 2027 returns are a bit nasty, after some recent bull market years, well, that should serve us well.
I think I will feel better spending more over time, but we’ve done not too bad overall and been fortunate with our health – which is the most important part of life anyhow.
I appreciate your words and banter and discussions here on the site and over email.
Mark
Thank you for your kind reply.
Good to read you had lots of positive feedback on your announcement.
I’m with you on being conservative now, particularly with the lengthy bull market we’ve enjoyed. I’m sure you’ll soon ‘grow’ comfortable with your retirement spending. It’s different flipping that switch from saving to spending.
Nice with your health, and I’m also with you on it being the most valuable thing there is.
You’re welcome. I appreciate it too. Cheers.
With a side gig, you won’t get bored! I had so many people tell me that I’d be going back to work – NO WAY! My days are still full – helping elderly family members, investing, managing my corp, learning a language, daily exercise, home cooked meals, travel, etc. I can’t understand how people feel bored and don’t have enough to do. 🙂
Amazing, Sandra – you sound like you have a very full life!! Kudos.
Always nice to engage with you here.
How is the corp. drawdown coming along? I will be tapping mine for some spending in early 2026.
Mark
It’s coming along…it’s going to take many years along with the RRIF. Like you said above, not a bad situation to be in. First world problem. 🙂
I’m a bit late to the game Mark, but congrats on bringing your planning to fruition for retirement next year. Your around 10 years ahead of when I stopped age wise.
Spend your money well and enjoy it while keeping the logs in the fireplace burning . Always nice to come home to a warm house so to say.
The cards life deals or even, as some say, has dealt you are not known. So take advantage of the health and wealth and companionship of your family. What the future holds for us is not a given. Plan to make the most of it and enjoy what comes your way.
RICARDO
Not late at all.. Very kind and thanks very much. It’s been so nice to hear from many readers, not just about my own journey but to learn from other readers as well, what they do, why, etc.
It is my hope that with our spending plans and lifestyle plans, we have done “enough” to date but time will tell. I figure worse-case we can start working again, here and there at something and/or scale back some travel plans; and just live off dividends and distributions (avoiding capital withdrawals) at all but hopefully none of those things are required. The future is always unknown but generally we’ve planned well overall and while I am far from a perfect investor, I just figured I would always need to be good enough. 🙂
Stay in touch often, I enjoy your comments with others.
Mark