At the end of June, Rob wrapped up 29 years at the paper; 27 of those were spent digging into PF. But like most financial commentators, he hasn’t really packed it all in—he’s just stepped away from a regular paycheck. At 62, he thinks my term “Findependence” fits his new situation. Now, he’s planning to pen two monthly columns for the Globe: one on his fresh retirement journey, the other diving into the usual PF topics. Meanwhile, his well-loved Carrick on Money column is getting a fresh spin by Globe and Mail colleagues and will now just be called On Money.
Rob and I often think back to the trailblazing Bruce Cohen’s work on Canadian PF, which he passed on to me shortly after I joined the Financial Post in ’93. Bruce is seen as the godfather of Canadian PF writing, but he modestly tips his hat to two earlier pioneers: the late Mike Grenby and Henry Zimmer.
Before Rob joined the Globe, he spent a decade at Canadian Press; once there, he convinced editors that no one was tackling PF quite like Cohen did. The Toronto Star had Ellen Roseman and James Daw covering it; James is now off the scene. Ellen once mentioned in a speech that she wouldn’t ever retire—and that’s still true. At 78, she’s semi-retired, doing her thing as a financial educator and speaker.
Bruce, unlike the others, genuinely retired after a five-year wind-down and now enjoys life on 50 acres north of Toronto at 75. He reflects on actuary Malcolm Hamilton’s insights about retirement spending being similar to pre-retirement life, saying, “So, most folks didn’t need a 70% income replacement ratio. That’s true for me, though with so many older folks having debt and adult kids at home, I’m not sure it still holds up for everyone.”
Back in those FP days, I sat across from Garry Marr, who covered real estate and mortgages. Garry left but is now making a comeback as a full-time columnist to—you guessed it—tackle the PF beat, with his first piece out on August 12.
When I emailed Marr for advice, he said he’s not hanging up his hat yet, but anyone thinking about retirement should grab those employer RRSP matches. “I’m back at Postmedia with two LIRAs bursting with employer inputs. Employees rarely jump on this. How often do you get a 100% return on cash that doesn’t make sense? … Never say no to free money.”
This spring, American retirement blogger Fritz Gilbert made a quirky announcement that he’s stepping back from writing full-time about retirement. Yet, his blog, The Retirement Manifesto, will still see some love when inspiration strikes him.
For this piece, Gilbert emphasizes that while early on money matters might dominate our thoughts, we eventually realize the real treasure is grappling with non-financial issues. As retirement unfolds, we discover how tricky these matters are and find joy in them. “I’ve figured out the key to a fantastic retirement is to focus more on others than on yourself … You’ve got to navigate through the twists and turns and keep experimenting to keep up with life’s ongoing changes.”
