Retirement




When is a good time to retire? I have been thinking about that question a lot as I approach that time in my life. In fact I have already gone two years beyond possible retirement age. Depending upon your vocation you may be able to retire at 55, or if your age plus years of service adds up to 85 or 95 you may be eligible for retirement. Maybe your field of employment says that when you reach 65 you can retire. In ministry we can go to age 70 at which time we must retire. My wife tells me that I will never retire! I respond by saying, “No, that’s not true but I have to be ready for retirement.”

So, how will I know when I am ready? One of the big concerns that I must deal with is affordability. Can I afford financially to retire? Do I own my own house or is my bank still a partner? One bill I don’t need when I retire is a mortgage payment. Early in my ministry I made the decision to purchase my own house rather than living in a church manse. I have met ministers who have lived in manses all their life and suddenly when faced with retirement they discovered that they had no place to call their own. Jill and I purchased our first house while we were living in Calgary Alberta. I remember my oldest brother saying to me; “John whenever you buy a house always try to “buy up” never down.” The reason for this is quite simple. When you come to the end of your working days will own a nice place in which to live not something that is just adequate. Since Calgary Jill and I have bought houses in Barrie Ontario and in St. Marys. We were very fortunate or as they say here in Bermuda we “were blessed” in that we were able to sell each house for a profit and used the profit towards a down payment on our next house. Last year we bought a house just north of Orlando in Florida. We believe that this house will be our retirement home. Is it completely paid for? No! But it will be in just two years! So, number ONE when I retire I will own my house not the bank and I just me.

The number two question is can I still afford retirement even though I own my own house. A strange thing about retirement years is that the bills keep coming in. The government still charges you taxes. Oil/gas companies still charge you to fill up your car. Don’t forget that you still have to eat and groceries are not cheaper just because you are a senior. I remember reading some time ago an article that stated; “When you retire you should own your own home and your income should be at least 75% of your present income. Another brother told me (families are pearls of wisdom) that the only thing you don’t have to worry about paying once you retire is saving for retirement! For the past few years I have been busy calculating what my income will be once I retire. I am very very close at present if not over 75% of my present income. I am fortunate that through savings plus my church pension we will be OK. My financial security is based on my personal resources alone not my wife’s. In other words what I am saying is that we could safely retire on my income and my savings. Jill’s income and savings will be a big bonus for us. I couldn’t be as confident about my personal savings if it hadn’t been for her faithful support over the years. Thanks Jill.

So, I own my own house, I am financially secure but am I ready to retire? Maybe yes maybe no. I say maybe because the third biggest question I must ask myself is whether or not emotionally and or psychologically I am ready for retirement. What am I going to do when I retire? Sure there is that “honey-do” list of things just waiting for me and yes I will want to take an extra long vacation but what happens then? To-do lists and vacations will not last forever. Wives are often hasseled by husbands who simply don’t know what to do after they have washed the car and cut the grass. I once had an elder friend who when he retired still left the house at the same time every day. He went to the local coffee shop where he met all of his retired buddies and together they solved the problems of the world. Following the coffee shop he moved on to the library where he read the daily newspaper. By the time he finished at the library it was time to go home for lunch and then take a look at that honey-do list!

So what are my plans? How will I spend my retirement time? For starters I do have my hobbies like gardening, metal detecting, my radio ministry, reading and of course there is always my computer. However, these things will not keep me going for ever and so I have a secret plan up my sleeve! What is the secret? I don’t plan to retire! Let me rephrase that by saying; “I don’t plan to retire completely.” As long as the good Lord gives me the health and the capability I would like to do a little Sunday preaching to help fill some of those vacant pulpits and maybe even a little part time ministry. Perhaps, if there is a church out there who can’t afford a full time minister we can get together and work something out? The only thing I ask for is retirement from administrative work but preaching and visitation that’s OK!

Blessings to all you understanding souls!

John Fraser