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Retirement column: Ridin' the roller-coaster

When I met with my financial planner before I retired, I didn’t pay too much attention to what he said. I should have.

When I met with my financial planner before I retired, I didn’t pay too much attention to what he said. I should have.

The first year and a half was the honeymoon period, enjoying my monthly pension cheques, travelling, sleeping in, and doing volunteer work.

Miraculously, there always seemed to be money in my bank account. And then it happened.

Unexpected car repairs to the tune of $1,000, extravagant birthday gifts for loved ones, a six-day spiritual retreat in California, and a series of classes.

Next thing you know, sirens are starting to go off in my bank account.

And my brain.

I knew that my pension cheque would be somewhere between 60 to 70 per cent of my pre-retirement income. That sounded fine.

Problem was, I didn’t do the math.

All of a sudden, I find myself choosing the cheaper sushi restaurants.

And going out less for lattes and muffins. 

And buying more chicken, less red meat.

It’s no biggie, really. But I’d gotten used to a certain lifestyle and I want that lifestyle back!

Having been fiercely independent my entire life, I’m not taking kindly to offers of help. Don’t get me wrong — I’m appreciative, it just doesn’t feel right. Plus, I’m getting by just fine. I happen to have spoiled myself for a long time and now there’s a wake-up call to answer.

If you’re wondering why my husband Harvey hasn’t entered into this conversation, it’s because, well…he’s ridiculously generous, and I have trouble embracing his generosity. (Most of the time. Not all of it though.)

How we work out our family expenses is not for public consumption. And this sudden financial imbalance is just a blip. I think I may have worked out a way to correct it. Time will tell.

This is all to say that if you’re close to retirement, pay attention to your financial planner.

And if you don’t have one, get one. Or ask a knowledgeable friend to give you advice.

Because, as sure as God made little green apples, your post-retirement lifestyle will change.

It’s how we adjust to those changes that makes all the difference. And you won’t notice it right away.

It’s taken me almost two years to figure out how retirement, a pension cheque, and lifestyle all interact.

In the meantime, I’m not exactly reduced to selling a kidney to buy new shoes.

But life is slightly different now. Pay attention, do the math, and plan, plan, plan.

Or you could be like me and wing it. That is, if you like surprises.

Talk to friends who have retired, think about actual and unexpected expenses and get out your calculator.

You’ll thank yourself for it.

Shelley Civkin is a retired communications officer