This is a guest post from Sheryl (a.k.a Cdn Gwen) in Ontario, who is 39 years old with a grown daughter, and is trying to rebuild her retirement dream just 20 years too late for early retirement.
Allow me to introduce myself, my name is Gwen and although I love the concept of retiring early: I’m starting about 20 years too late. I’m now 39 years old, don’t play the lottery, and have no wealthy people about to pass their fortunes to me, so my “early” retirement will be before I’m 60.
After several years being in a dysfunctional marriage that ended in divorce, I’m now working towards the life I feel I is my true path, and I feel that I am at the best part of life life to date, except financially. The end result is that the last 20 years has left me with a negative net worth (any assets from the marriage were consumed by lawyers, and a few other bad decisions).
When I signed the mortgage in February for my residence, that was a real awakening. Do I really still want to have a mortgage when I’m over 70 years old? That terrifies me, and I know I am the only one who can change that.
Now, by educating myself by reading books and blogs such as this one, my goal is make my future different. I am currently not married, but am in a committed relationship with a man who shares my views on money (although we do not combine our money). I also have a child on the edge of adulthood. That being said, until anything changes in my personal life, I will be doing this on a single income.
Over the next several years, I plan on getting out of debt, increasing my net worth, and generally steering my life towards the future I want. I know there will be bumps along the road (for example my residence is a condo in a 25 year old building that still has all the original appliances), and I hope that by sharing my story, I can encourage others to change their lives as well regardless of their age.