financial adjustments

It seems everyone is going through some kind of budgetary process these days. Everyone from kids with a pared down allowance to big corporations where the poor CEOs are having to tolerate a salary cap. (I'm surprised anyone would pay them even $500K for the abysmal job most of them have been doing.)

Our household is not exempt, but for reasons other than the global recession. In a few short weeks we'll both be retired. We've had some time to practise, since my partner retired over 4 years ago, and now it's my turn. Obviously, we will be netting less income, so will have to make some adjustments.

I'm hoping that our savings plan over the past years, plus our pensions, which are unusual these days in being relatively stable so far, will allow us to keep doing things we want including travel for the foreseeable future. Yes, we've taken a hit in our investments, like everyone else, but it looks like we've managed to keep our heads above water. We were never far out there in the high risk to idiotic risk end of the market. Thank goodness!

It's already noticeable that our expenses will decrease. The commute to work every day is the first thing I won't miss, and one that costs quite a bit. Less wear & tear on the vehicle too. Not buying lunch-size items will also reduce the grocery budget. Won't need a whole new wardrobe as often, either. It won't hurt us at all to buy fewer books, CDs & DVDs, although we won't stop altogether.

Travel, now, there's something we want to increase, rather than decrease. Off-season or shoulder season should work nicely for most of that. And we'll make better use of local resources too. There are so many museums & public facilities in Ottawa we'd be foolish not to.

Retirement is going to be good, financial adjustments notwithstanding!