[Earla Riopel (NYCARE)]

A few days ago, my husband for over 27yrs ago was so worried about me due to his recent heart attack, which gotten him off work for at least 7 weeks. He asked me, if he died during that day what will happen to me?

I answered back, why would I worry? As a couple, we have invested into a decent investment portfolio that I will have my share, plus his share when he passed away. In fact, more than what I need for retirement, at least in seven figures range, if everything is sold and collected, and a lifetime share of his government pension. In fact, it would be more than what he’s going to get if I passed away first, at this moment. He has to work for another 10yrs to get into the amount I already accumulated as of today. He was shocked!

As a background, most of my life as a Canadian resident, I am more like, a self-employed (part-time), stayed-at-home-parent (with my 3 kids – they’re all adults now), volunteered (10+yrs), and a CPA candidate. Since my husband makes a decent living, I decided to take care of our finances, and make the most of it via investing. So far, we’re doing fine.

I don’t like spending money, if I don’t have to. I religiously know everything about what affects my retirement and his. I invest whenever it’s possible, even using borrowed money to make money.

So the moral of this story, it’s not so bad to be labeled stay-at-home-parent, married or spouse, or a part-time self-employed, there’s a huge reward waiting upon retirement, and even when the other half is gone, you’ll be taken care of.

However, you have to invest, either raising family, invest with your other half, and take time on knowing all the benefits that go along with it, while living and even when you’re gone. This is when estate planning is so important.

[TommyTheCat]

im not sure that's really “estate planning” per se, but glad to hear you are so well taken care of.

[M123]

Congrats – you did a lot right! Living within one's means is diametrically opposed to our debt culture at least in the US.

Any spouse who doesn't spend their own spouse into insolvency is a rarity. Lucky guy 🙂

As one gets closer to retirement – the challenge is to ride the line to make sure the heirs get as little as needed 😀

[Earla Riopel (NYCARE)]

@TommyTheCat & @M123, Thanks for the comments, greatly appreciated!:)

[Author]

Replies