Dealing with COVID-19

Over the past few months, I have been busy with life it seems and this blog went in pause mode.  With COVID-19, working from home and time to do other things. I thought it might be nice to get writing again and reaching out. The pandemic, 30% drop in the stock market, huge potential lay-offs are going to impact those nearing and those in retirement. The focus for now needs to be on staying well, looking after family and basic needs.  One good thing coming out of the need to stay home/work from home is that our expenses will be lower.  We are not travelling as much, not going out as much and focussing on home based needs. This is a great time to review our expenses and find those places where we are "leaking" money.  Subscriptions we no longer need. Purchases we no longer need to make.  Prioritizing the essential and eliminating the fluff. Take care, wash your hands, and be kind to one another.

Being More, Not Having More

A recent article posted in the Retired Without a Pension Flipboard Magazine by Katherine Liola called It Is Time We Redefined Financial Success  looked to reframe the financial success paradigm. It focused more on values we have as individuals rather than the messages we get from the world.  It offers 10 questions that you might wish to ask yourself that allows you to see financial independence as a tool, not an end in itself. As I have been travelling this journey to a self sufficient retirement, I have found myself challenged by the conflict between the messages of the world and my own experiences, values and aspirations. I am a tremendous disappointment to my MBA class - I am not "rich" by the standards of the ads I see on the Golf Channel.  Several years ago, I realized that acquiring "stuff" was not the goal of life.  I decided that I wanted to live a life of Being More, not Having More. Yes, we need a place to live, we need access to clean water, clean air

Daily Practice

Earlier this week I experienced a crisis in confidence and a sense of hopelessness.  I should have seen it coming.  As I posted earlier, I am supporting my parents through end of life and assisted care requirements.  It is an emotional time.  Combined with maintaining my work schedule, home requirements and a summer cold; sooner or later it was going to catch up with me. It occurred to me this week that maybe I won't reach some of my goals.  It occurred to me that maybe I will have to revisit my expectations in light of what I am able to do and the current demands on my time and energy.  For the first time, in a long time, I felt a loss of hope and the emptiness in the soul that it creates.  It was time for some self care.  Nutritious food, and a good night's sleep and I am feeling better this morning.  It is also time to get back to my daily practice. One of the key concepts behind this blog is the ability to leverage creativity to create a self sufficient retirement.  Any

RWOP Basics

Retired Without a Pensiion is a blog about creating a lifestyle choice based on managing cashflow, creating a personal safety net and managing the different phases of retirement and can be described in the following steps: Attitude and lifestyle: creating a creative/entrepreneurial lifestyle based on joy and balance and appreciating the opportunity that retirement provides. Understanding your Magic Number: creating financial scenarios that allow you be self-sufficient and identify your daily budget requirement. Managing cash flow: access/create income streams that meet your daily budget requirement. Identifying any gaps between your income and daily budget requirement. Closing the gap: looking at innovative and creative ways to close any financial gaps that you may have; from working part-time, to creating a side hustle or online business.  This is where lifestyle meets income - if making money is play, you will never work another day in your life. It's all about leveraging w

What Excites You?

It seems to me that one of the great opportunities of Retirement is the opportunity of redefining our lives, to look to design a life that works for us.  I used to think that the basis of a successful life was focused on goal setting and achieving.  I became a really good goal setter and then became a really awful person to be around as I worked endlessly to achieve those goals.  As I have gotten older, wiser and, hopefully, more mature, I am setting aside the need for goals.  Yes, I need to get things done - but I am now focusing more on the process and what excites me.  Retirement is a time when we can reflect on what really gives us motivation and energy.  I have started playing oboe again.  I could not believe how excited I was to open up an oboe case, put together the instrument and play again for the first time in 30 years!  I was amazed at how easily it all came back to me. I found that I could get a nice sound again and it was fun just to play simple tunes and exercises aga

Life as a Work of Art

In my deep dark past, I am a classically trained oboist. My BFA was completed as a music major, but York University insisted that I take a certain number of courses outside of music, but inside the Fine Arts faculty.  I chose several art history courses and thoroughly enjoyed them.  My Mother was a artisan weaver and in her retirement took up watercolour painting.  Several years ago, I decided to take up watercolour as well and over time gravitated to the area of Botanical Art.  I enjoyed it so much that I enrolled in an extension course offered by the University of Cornell.  It was a wonderful experience and I had the opportunity of meeting some incredible students who became very accomplished botanical artists. One of the differences between being a musician and a botanical artist is signing your work.  When an artist signs their work, they are effectively saying; "this piece is done" and release it to the world.  One day it occurred to me that it would be a wonderful thi

Interesting link: Investing in Your 70s

A colleague of mine writes for Tangerine in Canada with a strong interest in retirement finance issues.  They kindly sent me a link to a great article from Morning Star on Investing in Your 70s.  What I like about this article is that it looks at some creative options for creating income and maintaining cash flow for ongoing retirement funding. You can find the article here . Feel free to comment on what you see and feel free to suggest other links that might be interesting. You can find further resources on the RWOP Flipboard news here . Enjoy your day - more interesting links to come in the near future. __________________________________ For more information on Retired Without a Pension join in the discussion on Facebook , or check out the RWOP Magazine on Flipboard .