Retirement can be ‘the time of your life’ this former bank employee says

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In Tales from the Golden Age, retirees talk about their spending, savings and whether life after work is what they expected.
Karen Sawyer, 61, Mississauga
I retired in May 2022 – three months shy of my 60th birthday – after more than 20 years working in customer loyalty at one of Canada’s big banks. My decision was driven in part by the aftermath of the pandemic. My husband has autoimmune conditions and was in the hospital for a while after getting COVID-19. It made us reassess our priorities and reminded us that life is short. My husband retired a month before I did.
Before retiring, I worried about what I would do all day when I was no longer working. I was concerned I would be bored and maybe even slip into depression. To try and avoid that, I researched retirement ahead of time, mostly for ideas and to learn from others’ experiences. One thing that stuck with me was the question, ‘What do you want your legacy to be?’
I’ve always been passionate about volunteering, so I started researching and writing to organizations where I thought I’d like to donate my time. It almost backfired as I quickly became too busy in retirement, volunteering at various organizations and not taking enough downtime. So, I’ve adjusted to balance my life – although I still struggle with finding more ‘me time.’ My friends tell me I’m failing at retirement!
I also like to try new things in retirement to see if I enjoy them. For example, some friends and I took a painting class and audited some university courses, but those activities didn’t stick. I started working out with a personal trainer, which is something I still do. I’ve also made a concerted effort to reach out to friends and family, including those still working, and organize social gatherings. I remember not having the time to do that while working, as much as I wanted to. It feels amazing to bring people together.
I worry a bit about finances because there are many unknowns, including market volatility and inflation. My husband and I were both previously married and have four kids between us. The kids are somewhat dependent on us as they launch their careers. Like many parents today, we support them with housing costs because it’s difficult for young adults to get into the housing market.
I’ve always had an advisor to help me make money decisions. I relied on him to help me determine when I could stop working and how much I could spend in retirement. Now that I’m retired, I pay more attention to my finances and make more conscious decisions about what I need to buy. I also spend less now because I’m not commuting to work, buying lunches, or buying new clothes to wear in the office. I haven’t felt squeezed financially and am spending less than expected.
When they say retirement is the time of your life, it truly is. I can do whatever I want, whether volunteering, meeting friends for coffee or spending time with my grandson. It sounds a little Polyanna-ish, but I didn’t expect to be this happy in retirement.
As told to Brenda Bouw
This interview has been edited and condensed.
Are you a Canadian retiree interested in discussing what life is like now that you’ve stopped working? The Globe is looking for people to participate in its Tales from the Golden Age feature, which examines the personal and financial realities of retirement. If you’re interested in being interviewed for this feature and agree to use your full name and have a photo taken, please e-mail us at: [email protected]. Please include a few details about how you saved and invested for retirement and what your life is like now.
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