William Ubbens, 93, says he has enough money to last him until his 110th birthday. He credits his frugal lifestyle and hard work for his savings.
William Ubbens, 93, is already almost a quarter century into his retirement and is hoping for plenty more years ahead, with his pockets full.
At the start of the new millennium, Ubbens and his wife decided to start a new phase of their life. "My wife said, "That's it. I want you to sell the business.'" So he sold his 45-year-old insurance firm to officially enter the golden years with his wife.
Twenty-four years later and now a widower, Ubbens said he had managed to live comfortably, and still has enough money to last him until his 110th birthday. He credits his frugal lifestyle and hard work.
"I don't waste money," he said.
"People tell me, "Why don't you buy a new car? You've got a 2010 Ford," Ubbens said. "But you know, the thing is, I'm old. So we have to get old together." Retirement has historically lasted about two decades, but for some Canadians it is now extending to twice that amount of time as more live well into their 90s and beyond.
That's making some rethink their investments, savings, expenses and when to retire as they look to stretch their retirement funds further than ever.
Statistics Canada released new projections this week suggesting the number of Canadians aged over 85 could more than triple by 2073, while the number of centenarians could almost increase by 10 times, surpassing 106,000.
Retirement planning requires thinking about the time horizon, the amount of money needed and making sure that money lasts, said Kurt Rosentreter, a certified financial planner at Manulife Wealth.
The primary question is when to retire.
Bu hikaye Toronto Star dergisinin July 01, 2024 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Giriş Yap
Bu hikaye Toronto Star dergisinin July 01, 2024 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Giriş Yap
Spain's Yamal looks to roast the hosts
Germans hope to challenge exciting Barcelona teen
Blue-line blue-chippers
Leats have three interesting prospects in Danford, Webber and Johansson
Nembhard provides backcourt depth
Canadian guard will help keep Gilgeous-Alexander, Murray fresh in Paris
Running it back more common than not
A good rule for life is to be suspicious of catch phrases and clichés.
On P.E.I., Anne's reign is inescapable
It is all Anne all the time on Prince Edward Island. And it was about to be that much more when the Royal Canadian Mint rolled out a new $1 coin paying homage to Lucy Maud Montgomery, the most storied Canadian author of all, to mark her 150th birthday.
'SEVEN SAMURAI AT 70: Kurosawa's epic still moves like nothing else
NEW YORK Akira Kurosawa’s “Seven Samurai” is celebrating its 70th anniversary this year. But despite its age, the vitality and fleetfooted movement of Kurosawa’s epic is still breathtaking.
This cement plant doesn't just capture carbon, it sells it
The promise of carbon capture — that you can grab climate-changing emissions out of the air and shoot them underground or put them to use — has always exceeded the reality.
AI poses growing risk to democracy
On Nov. 30, 2022, San Franciscobased OpenAI released ChatGPT, a chatbot capable of generating text almost indistinguishable from that written by a human. It wasn’t perfect — the bot had a tendency to “hallucinate facts” — but still prompted journalists to wonder whether the bot might eventually take their jobs.
Levy brings reprisal fears
U.S. has threatened to respond to a new tax imposed on big tech firms
Israel approves new homes for West Bank settlements
JERUSALEM The Israeli government has approved plans to build nearly 5,300 new homes in settlements in the occupied West Bank, a monitoring group said Thursday, the latest in a campaign to accelerate settlement expansion, aimed at cementing Israeli control over the territory and preventing the establishment of a future Palestinian state.
