Before I retire..

I hope to retire at the age of 70 and have a lot of saving in the Bank, debt free, the mortgage paid off. I am hoping to be always in health and can still travel to my country with my husband. The most important is to watch my only one daughter will get success in the future.


I am not afraid to die,  but this is what I am scared about,”  I get retired at the age of 70,  No money in the Bank, The debt and the Mortgage haven’t paid off yet then I will be ended up alone.


You can’t turn back the clock or rewind it the life, but there are a few important things that you  should prepare before your retirement:
  1. You must have an emergency fund saving account at least for three months. You never know how long does it take to the start date of your pension.
  2. Pay off the debts, credit card, Mortgage, or other loans
  3. Change your budgeting before and after retirement. For example, my retirement budget will be including only these expenses: Utility bills (Fortis BC, Hydro) and Medical, Internet, House Insurance, only one car insurance, Phone, Emergency, Saving, Food. It means my expenses are only 57% after retirement.
  4. Need to make a plan for your health care costs in retirement, don’t rely on the Medical  that you have now. It means you need to put on your budget now as an expense.
  5. Learn about the source of retirement income here
  6. You need to learn how your retirement income will be taxable.
  7. Start saving for your retirement as early as possible, It’s never too late.


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