A week ago I turned sixty. I’ve always heard there are plenty of advantages to being sixty – discounts and rebates among them. But now I’m not so sure.
In Canada you can even start collecting your Old Age Pension, albeit at a reduced amount, once you turn sixty instead of waiting until the traditional 65. For some it is advantageous to start five years early, for others it is not.
Getting advice on this is about as frustrating as choosing a mobile phone package. Too many moving parts. Are you working now? How long do you want to work? What do you figure your salary will be in three years time? Yet the pension folks get the prize for asking the dumbest question.
At some point during every online or in-person consult regarding my pension I have been asked “How long do you expect to live?”. Well if I knew that this whole process would be a lot easier. If I knew I was going to make it to 106 years of age I’d slow down and make the cash last. If I was certain I would be going clogs-up in a few years I would not be here writing, I’d be travelling extravagantly.
I have a problem when people ask when I would like to stop working. Frankly, I’ve been ready to retire since I was about sixteen. I have never been one to define myself by what I do in a work-sense. Not from a family of worker bees, and as a good Irish Catholic never being an adherent of the Protestant Work Ethic, I’ve always viewed work has always been a necessary evil.
So I’ll wait to hear from the powers that be to see if I should wait another few years, or start sucking on the government teat now. Even if it is my money I’ll be sucking!