Following Frank into Retirement – 1 month into it
A series of articles starting 5 months from retirement and into retirement
By Frank
I’ve been retired now for almost 1-1/2 months and I’m still trying to get the time to retire. Suzanne and I have slept in 10 different beds during that time, and have spent a total of 5 days at home in the month of January. I was eager (and somewhat trepidatious) to return home from our travels so that I could experience life at home as a retiree. Unfortunately, I’ve been back for three days now and life just keeps getting in the way of my plans. Plumbing problems, stained carpet, and pension transfer forms have sucked away my time and energy. I’m feeling very impatient with my lack of progress towards discovering my true passion (besides Suzanne). I haven’t even had the chance to get my bagpipes ready to play.
Forms and more forms
Before rambling madly off in all directions, I would first like to vent my spleen about financial companies and their forms. I am delighted that I have some pension from my last 9-1/2 years of employment. However, my joy has been tempered by the half day that Suzanne and I spent filling out ambiguous forms, digging up the required information, and calling representatives for clarification. I don’t like forms at the best of times, but the lack of adequate instructions and vague requests for information made this task a real chore. To add insult to injury, the only number listed in one company’s letter was to their sales department, giving them one more chance to hang on to our funds. Suzanne and I are both well educated and experienced professionals. How do people without training manage? It seems that these companies are purposely being obstructionist by trying to prevent retirees from transferring funds away from them.
Whew! That felt almost as good as mailing off those forms.
Patience is a virtue
In this age of instant gratification, learning to wait patiently for your life to unfold could be difficult. I feel like a little kid that desperately wants to be bigger. I can’t wait to grow up. Every day not spent exploring possibilities seems like a wasted day; another day in limbo. My work has trained me to set and achieve goals with the constant reward of a paycheque. I have to figure out not only some completely different goals but also a good alternative to my paycheques. I have some good role models – people whose passion for what they do fills their days (and sometimes nights). It worries me that I’ll end up just filling in time for the next 30 years. This brings me full circle back to the bit about being patient.
A snake in the grass
As Suzanne and I were driving down to Toronto to meet up with some friends, a new thought slithered its way into my head. I am still relatively young, healthy, and am well respected in my field. Why am I not working? It wasn’t a question about working to earn more money; it was a question about why I’m not working when I am still able. It was a strong feeling and it surprised me. Since the thought was emotional, I had no good comeback to allow me to file it in my mind’s wastebasket. It made me even more impatient to reboot.
Back to Life
Despite all my concerns, it has been great not working. There has not been a single day pass when I’ve regretted leaving my work behind. It makes me smile all over just thinking about it. In the meantime, it will have to be one step at a time, maybe even baby steps, as I work my way into retirement. I’ve got plans, just not big ones. I’m making mushu pork for supper. It’s been snowing a lot lately and I’m saving snowblowing my driveway for tomorrow when I can enjoy doing it to the maximum.
Like I said, baby steps.
What kinds of information did the pension folks keep you tied up providing, Frank? I love details.
Frank, I love and share your exasperation with forms. My CPP form wants to know whether and for which dates (exactly) I received the Child Care Tax Benefit (Baby Bonus). My youngest child is now turning 30, and all of my children were adopted, not all at birth, so someone else was the primary caregiver for parts of their lives. I don’t remember! The lovely lady in Newfoundland couldn’t believe it–she said, “but it would have come every month, dear, a cheque every month. You must remember.” The also said Canada Revenue wouldn’t have the information–they don’t keep records that far back! She’s going to send me a form to fill out, with a letter, explaining all this. Till I can answer the question, they won’t know whether to factor in the baby bonus into their formula, so they can’t start my pension!
Sounds like nobody knows. . . . Do you ever want to just make it up?
Hi Ann,
It is very tempting to make it up, but I can’t help the feeling that although one branch of the federal government hasn’t kept your records for Baby Bonuses, another branch (notably the CRA) has kept the information in a different form without the detail. I am sure they would find the necessary information to send you a brusque demand for information following your first tax filing after receiving CPP.
Actually now that I mention it, the Canada Revenue Service may be able to help you get the information you need; if you can phrase the question correctly and find the right person to ask.
What fun for you! Good luck.
Frank
If you have any pointers for organizing forms 1.75 years in advance please let me know. I am not far behind you two in the retirement scheme. Looking forward to it! Sounds like you are having fun. See you in Vancouver one of these days. We have extra beds!
Wow. I can see why your column didn’t include the specifics, Frank. I just had to decide whether to divide my buy-out package over 1, 2, or 3 years (3 years please) and then meet with the Human Resources person to sign forms.
As for Old Age Security, mind, I filled out the form requesting it, with a delay so that I wasn’t docked for making too much with the buy-out package. Then, since the delay was more than a year, didn’t just get told that they were deleting my application and I’d have to apply later, but also had to fill out another form withdrawing my application. Aargh.
I’m currently struggling with the papers and books I seem to have thought, in my previous life, to be important. A few are things I really do need, like my will, which I’ve misplaced, or the proof of custody and receipt of the child tax credit for my three children, which I can’t even remember. Most represent something I imagined I might need, or do, or which someone (hypothetical grandchildren?) would be desperate to learn about. A wise friend said, “there’s lots of letting go.” In the mean time, perhaps I should just junk the unopened boxes and see what happens . . . As someone wrote–was it you? — how do people do this if they don’t have a friend or partner to deal with the forms, the transfers and transitions and protocols? I don’t want to spend so much time on these things, but they seem to take longer and be more obscure. Clearly time for a break!