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September 14, 2022

Today I am turning 55. Thanks to a media campaign years ago, this is the year I am supposed to attain financial freedom. Freedom to do what exactly? Retire?

Making good financial decisions

My mother was a banker from the time I was six weeks old (no maternity leave back then!). She instilled in me the skills to make good financial decisions. When my husband and I were on our first date we discovered we both had already started RRSPs even though we were only in our early 20s. I know, right? Scintillating conversation. 😊 That conversation however, led us to quickly realize that our financial goals were aligned.

Not ready to retire

I never planned on retiring at this age. Financially, if something happened and I was unable to work, we would most likely be okay. No extras or frills for sure; however, we would not be destitute. In other words, the financial decisions we made years ago have worked in our favour.

Beyond financial freedom there is another reason I am not ready to retire. Turning 55 is still young! I am extremely fortunate. My mental and physical health is good. I have the ability to run my business and make a living. I absolutely love what I do. While not planned, starting my business 4 years ago was a great decision. I have the flexibility to decide when and how I want to work. Once again, good financial decisions allowed me to take the risk.

Freedom 55, 60, 65?

On this day of turning 55, I know that freedom 55 is the right goal for some. For me, my freedom is the ability to support my clients, spend time with my family, travel, go for walks, swimming or do yoga on my own schedule. I will retire when it feels right for me. Just not at some arbitrary number because a media campaign tells me to.

Speaking of schedule, I am taking today off to spend with my husband. This evening we are joining my family in a cold plate potluck to visit with a cousin and her daughter in town. That is what freedom looks like to me! ~ Carole