This past weekend saw me get a year older, and it struck me how much closer I am to the end of my working days. How much closer, I am not sure, but I am much closer to the end of my working days, than I am to the start of my working days.

Let me elaborate with a few points:

• I have been working for 35 years, given I have had jobs since I was about 12 years old. That always staggers me that I have been working for that long.
• I am allegedly 18 years from retirement age (I think that is a synthetic value, I hope to stop HAVING to work before that, but don’t think it is likely).
• I have been working full time for 22 years.

All of this suggests that I should be well on my way to paying off debts or be out of debt and be planning my retirement, however take these points into consideration:

• I have four children 1 about to start University and within 5 years I may have 3 children in University so this point in my life may be the high point for spending money (I hope), so my goal should be to not be creating new debt(if not paying off old debt).
• I am being taxed at the maximum rate that I will ever be taxed at due to my exorbitant salary (just ask the CCRA) and the amount of sales taxes I pay on things that I buy (given I am spending so darn much).

What does this mean?

1. I should be saving for my retirement in my RRSP, which I am doing, but maybe not at the level Financial experts say I should.
2. I shouldn’t be accumulating junk debt (i.e. credit card debt), which I think my family is doing better than it has done in the past.
3. I should have saved for my children’s education with an RESP, which I have done, but maybe not enough for an entire University degree.

All in all, I think I am doing fine, but as usual, I could be doing much better, so I can strive for more. No point in getting complacent.