A Chance Encounter Changed Our Retirement Forever

An unexpected meeting with a stranger changed our retirement plans forever. This stranger outlined what he and his wife had done in retirement, it was so far from what we had thought it changed our life.
Sometimes you just don't know what you need to know and some how fate has a way of showing you a different path, one you could never imagine. We hope you enjoy our story of a chance encounter changed our retirement forever and if so please consider subscribing to our channel. Thank you!
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WE ARE NOT FINANCIAL OR INSURANCE ADVISORS, WE ARE NOT QUALIFIED TO GIVE FINANCIAL AND INSURANCE ADVICE, THIS VIDEO IS FOR INFORMATION AND ENTERTAINMENT PURPOSES ONLY. PLEASE SEEK OUT PROFESSIONAL FINANCIAL AND INSURANCE ADVICE BEFORE MAKING ANY INVESTMENT DECISIONS AND PURCHASING INSURANCE.

[@alancane1482]

When the student is ready the teacher appears.

[@sandrasavoie8641]

We retired, sold our condo, and moved to our cottage full time. Mistake! It’s isolating and 2 hours away from the city and our kids, grandkids, friends. We’ve now rented a small apartment in a 55+ building in the city and split our time. We love it! We plan on selling our cottage in the next 5 years to bump up our retirement savings and stay in that apartment full time, although maybe a larger suite in that block. We love apartment life! We have a gym, multi purpose rooms, free yoga classes, and they brush off the snow from our cars in the winter lol

[@ThisIsOurRetirement]

Yes isolation is an issue, great you solved the problem, good luck!

[@Steve-gx9ot]

Wow

[@brendalabranche365]

Sandra, Great that you & hubby recognized and addressed the isolation problem early.. 🙂. I agree, 2 hours is too far. We’re in northern Ontario.. so there’s 330 lakes in the area. Just sold my Cottage that was 1.5 hours away.. Eventually will find one that is much,( much) is closer to town, amenities, and kids. ..hoping to spend 3 seasons at cottage, and travel ( Portugal) the remainder. 😊 Happy Trails!

[@patsycathcart1]

This! Living in a favorite cabin is a great idea until you actually live there full time. We lived in the suburbs and are renting in our local city, within walking distance of everything near our town square. Great decision!

[@JenniferLegault-ll6up]

Thank you for sharing your experiences. My husband’s plan is to move to our cottage up north full time. I am in disagreement with him . I would find it isolating. I will share your post with him. Love the idea of spending half time in cottage country in summer and half time in the city.

[@robertr4715]

Being open minded is important! Glad it worked for you!

[@ThisIsOurRetirement]

Yes! Thank you! 🙂

[@teresameisner4895]

It is amazing that something someone else tells you can make such a positive change in your life! Congratulations!! 🤗

[@ThisIsOurRetirement]

Thank you!! 😊

[@TaylorCanada8]

We too never thought we would be renters. We sold our home last year in Ontario and moved to Spain. It was our intention to buy a home here (where they are much cheaper than Canada) and live out our retirement in this sunny climate. Before we arrived we had secured a 6 month rental property to confirm that we were in the area we wanted to stay and to look for a home to buy. After a short time here, we realized that we quite enjoyed how worry free renting was. If something stopped working, one call to the landlord and it was fixed immediately. Like you, the money from the sale of our Canadian home was making great gains and it seemed a shame to deplete that capital. In Spain we have a 2 BR, 2BA house with a large terrace, a 5 minute walk from the coast for about $1,400CAD/month. The cost of living is very low...each time we leave the grocery store we are astonished at how little we spend. We are loving all the ease of travel around Europe. In the last 8 months since we moved to Spain we have travelled to Switzerland, Italy, France, The Netherlands, Gibraltar, Portugal, Canary Islands and much of mainland Spain. We will be spending the month of August at home in Canada with family. Best decision ever! Enjoying your videos...thank you.

[@ThisIsOurRetirement]

Sounds very exciting we are pleased for you.

[@rosiej9231]

What do you do for health insurance?

[@TaylorCanada8]

@@rosiej9231 In order to qualify for the visa we were applying for (Non-Lucrative Visa) we had to have proof of insurance (paid for a year in advance) by an approved insurance provider. The insurance must have 100% coverage, no deductible and be in effect by your moving date. We found it quite reasonable (under $350/month CAD for the two of us). It does not include prescriptions (which are very reasonable), but does include basic dental coverage and travel insurance up to $10K/year.

[@TaylorCanada8]

@@rosiej9231 When applying for your visa, you are required to have purchased private health insurance. It was very reasonable.

[@12044m]

When you rest the owner can always raise your rent. You never know when it will end or where it will go. Not for us. We sold our home and bought one and paid cash. Love it

[@cdnsilverdaddy]

Capped though

[@catharineho8264]

You were lucky to find a rent control building, as that is great not to have to deal with the uncertainty of renting.

[@rossmacintosh5652]

Huh? I don't think they said that where they are renting is rent controlled.

[@ddavidson5]

@@rossmacintosh5652 They have said in past videos that their apartment is rent controlled.

[@ThisIsOurRetirement]

It was quite by chance to have got rent control, when we were signing the lease Catherine we had no idea 🤷‍♀️ what it was , we were prepared to pay market rent at that time 🌺🙂

[@GibberishJeff]

I live in Kanata and it is expensive here. We've paid off our house and you guys are my chance encounter. I never thought to sell my house and rent when I retire but now that option is on the table. Thanks : )

[@ThisIsOurRetirement]

We were always going to buy another house till we met this gentleman, we hope you too explore it’s a wonderful option for retirement Jeff Cheers 🌺☕️🙂

[@glennet9613]

We did the same thing and have never regretted it. You need to have a good landlord who is going to deal with anything that needs fixing promptly and efficiency and to be prepared to move if you have to. On the other hand you do have the freedom to move if your needs change for any reason.

[@ThisIsOurRetirement]

We rent from a large Corporation and they are wonderful Landlords take care of everything ☕️🙂

[@janebaldock7995]

Great to hear the serendipity of good advice at the right time and finding the right place: close to family too. Congratulations, no wonder you both are almost always smiling, with genuine smiley eyes! Rental costs now are sadly quite different, unless in an isolated community possibly. For single people, spending these golden years without family and particularly in smaller Canadian towns, is possibly a recipe for prolonged isolation. Families and couples in small towns seem to congregate together and reluctant to include an extra ‘ one’ in social gatherings. Keep up the optimistic outlook but remember you were very lucky to have done the right thing at the right time before Canada became so exorbitant for every sort of housing. Cheers 😊

[@ThisIsOurRetirement]

Very true Jane, however a lot of people have moved out of the GTA and all our “new” friends do not have family here.

[@RG-cz1tc]

If you feel isolated in a smaller town, get away for the winter to Arizona or Florida for five months. There are some great RV communities and apartment areas with friendly people. Probably RV people are the friendliest, and sometimes you can rent in an RV community.

[@RG-cz1tc]

P.S. My aunt from Winnipeg left the winter every year for Treasure Island, Florida, for 25 years, stayed in a motel full of Canadians, and never spent another winter in Canada.

[@13noman1]

Thought provoking and insightful as always. There's another advantage to your "buy vs rent" decision : it stands as a gift to your heirs (think "Danish cleansing"), greatly simplifies your estate while simultaneously simplifying your current lives! Mentally, it's a hard transition for me but I'm wrestling with myself for my wife and I to go the rental route as well.

[@CarneyFelonLawyer]

Similar experience. I was trying to figure out my retirement and called an 80 lawyer friend that also dabbled in investing. While talking to him he mentioned he and his wife for the last 10 years had lived in a large rental home in the mountains near San Diego and rented his old home for a profit. He loved renting because the landlord did all of the heavy lifting. I knew he loved his old home but said he never missed it. I sold my home after this conversation made a huge profit and invested per his advice and make more now than I ever did working. Changes in perception can be life changing as you suggest.

[@jetv1471]

Okay NOW you need to share these money making investments lo😜. My hubs is trying to make some on the market for us .

[@jeanwhite2705]

Morning Norm and Tina, My husband and I live on the east coast of Canada. In our 70’s we are grateful for our health so we are able to do a bit of travel, esp to Europe. We realize our home is way to large for us now but we are still able to maintain it on our income so we are enjoying it for now. Rental is definitely my choice in the future, but my husband is still adapting his mind to that reality. We live and learn.

[@ThisIsOurRetirement]

What we can say Jean is renting takes away unexpected maintenance and expenses and allows you so much freedom to enjoy yourselves we wish you well 🇨🇦☕️🙂

[@brucebelcher4995]

This is a good video, and you are doing a good service. Several youtubers, including you, are presenting alternatives to people regarding retirement. I'm very happy with my situation, but everyone is different, and you video offers a different perspective that viewers can consider for themselves. Best wishes to you.

[@ThisIsOurRetirement]

We appreciate that Bruce, thank you!

[@deborahdownie8039]

Another great video Norm and Tina! I used to think that renting wasn’t a wise option but it makes a lot of sense in retirement.

[@dgs8011]

KZbin is a way of sampling different ways of thinking on different topics. Such a great resource. Thanks for sharing yours, which pretty much matches mine on the topic of renting. :)

[@ThisIsOurRetirement]

Thanks 🌺☕️

[@carolnavan4137]

There are too many downsides to renting for me. A friend in Ontario did exactly what you are doing. Its worked great financially for her too. However, a cockroach infestation involving numerous chemical applications to control was quickly followed by a bed bug infestation spreading from a hoarder apartment on her floor. More fumigations. It took 6 fumigations to kill them all. Imagine what those chemicals do to your health! So many horror stories! I just couldn’t deal with the complete lack of control over my home environment. Yes she has rent control, still not worth it! This is a very “high end” apartment building with gym, pool, function rooms etc. I shudder in horror everytime I think about it!

[@ThisIsOurRetirement]

That is a shame about your friend, our experience has been quite different.

[@Stricknyne1]

Hello Tina and Norm. I was recently in Milford Charter Township, Michigan, which I believe is close to Detroit. I had never been to that area of the country and found it to be absolutely stunning. The trees and heavy forestation/foliage were majestic, I would move there in a second if not for the winters. I can understand why you would not wish to worry about having someone check on your house during the severe weather. If Canada is similar to northern Michigan it must be a beautiful place. Thanks, I always enjoy your videos!

[@ThisIsOurRetirement]

Thanks so much Michigan and Ontario are very simple climates.

[@judybee6698]

I am a Michigander, living about a half hour from Milford where you visited. It is a very beautiful state with so much lush landscape and wonderful lakes and rivers. But, yes, winters can be hard, although not terribly so in this area

[@Stricknyne1]

@@judybee6698 Yes, it was amazing. I hope to get back up there in the future.

[@traceynewdeck8526]

Wow. What a chance encounter. I'm so glad you were open to different ideas 😊

[@ThisIsOurRetirement]

Thank you! 😊

[@johnkelley1426]

Thank you!! I've NEVER thought of renting. You lifted the scales from my eyes.

[@ThisIsOurRetirement]

We are so glad!

[@bigo2032]

I love the British dialogue, with the negative on the second part of the sentence. It was lovely, wasn’t it Keep the videos coming, I’m a big fan, GOD Bless

[@GaryNaples]

Thanks again for your time and effort….Invaluable lived advice which is greatly appreciated.

[@msbeecee1]

U two are so enchanting!! Love having the benefits of ur experience as I navigate my choices. Many blindly believe home ownership is always better, but I have never subscribed to that. 💜

[@ThisIsOurRetirement]

Thank you so much!

[@bw5277]

Me neither. Sold my home six years ago and now rent an apartment on a man made lake in town. Proceeds from sale make the rent. No maintenance, repairs, upgrade, but more the increased property taxes, HOA fees, and ins. Friends and co-workers thought I was crazy but am fine with my decision. Some have spent small fortunes on new roof, plumbing, electrical, paint inside and out, etc.... When traveling, just lock the door and let my neighbors know I'll be gone a bit. Enjoy your channel.

[@TVResults]

We really appreciate you sharing your experiences.

[@ThisIsOurRetirement]

Our Pleasure ☕️🙂

[@jeffs9850]

Thanks for this video. I’ve looked into this for the future. I don’t know anything about the Canadian tax system, but in the USA, we’d be paying more income tax. For example, we sell our house & invest $500k at 5% & receive $25k annually in interest. A $1,500 monthly rent comes to $18k annually. We’d pay income tax on the full $25k interest income & get no deduction for the $18k rent expense. We current live in our paid off detached house. Keep up the good work guys!

[@patsycathcart1]

So appreciate your videos. You opened a whole new world and way of thinking to us!

[@ThisIsOurRetirement]

Awesome 🙂

[@tonemeister2318]

I love that you are both so open minded and flexible. Well done.

[@ThisIsOurRetirement]

Thank you 🌺☕️

[@lauraborgmann8285]

We live in the country on 22 acres and after 17 years retired are selling and renting was not on our radar till now. Something to check. THANK YOU!

[@hailey0675]

Great advice, thank you both Norm and Tina, I appreciate your stories very much!

[@ThisIsOurRetirement]

Our pleasure! 🌺☕️

[@annapower9799]

The people you need to meet are always put in your path - whether we hear the message is up to us! I’m nervous about rent because it’s increasing so much … but there are certainly ways to make it work for you. Thanks for sharing your wisdom.

[@ThisIsOurRetirement]

Yes maybe meeting others happens for a reason , if you are in Ontario Canada 🇨🇦 look for a building Prior to 2018 that will give you rent control a huge plus Anna good luck 🌺☕️

[@duanejohnson9180]

I love the advise that you provide but your delivery of the ideas is exceptional :)

[@ThisIsOurRetirement]

Wow thank you so much 🍻🙂🌺

[@dianaj3139]

Love this! Stil smiling! I agree that it's good to look at all the options! I have been watching all these retired folks that hit the road in vans, cars, and RV's Some still have homes that they rent or lease out for income to provide extra adventures for them. I traveled Europe and the states as well as Central America while I was still working... on my trips I always imagined what it might be like to settle somewhere else. However like most people A network of friends and family remain where your home is. So perhaps at some point we will sell the family home, but it still serves a purpose while we are free to travel about and spend Winters south of the border. Options are good!!

[@marcoprolo1488]

We sold the big house in a leafy suburb and bought a prestige condo downtown in a prime location. We paid cash for the condo since we were downsizing to avoid the current "high" mortgage rates. In my opinion it is important to diversify your investments and not just be in stocks. Also remember there is no capital gain tax when reselling a primary residence. It's rare a price goes down on a prestige unit located in an international grade city. (We are in Montreal now). But life is a gamble anyway. Being a tenant comes with its own risks. You can be sold away with a 3 months notice.

[@ThisIsOurRetirement]

Look at Toronto condo prices are reducing, there is a huge over supply for sale. Condo fees can skyrocket for repairs that have not been funded, think elevator maintenance. If we are sold out (doubtful), we have all the money from our home plus the increase from the investments it’s made. Thanks for sharing your thoughts.

[@paulamoran2571]

Its funny I stumbled on your video about this awhile back and hearing that changed our thought process as well. My husband will soon be retiring. We plan to do the very same thing....thanks to your video!

[@ThisIsOurRetirement]

Wonderful! we wish you both all the best Paula we love renting Cheers 🌺🍷🙂

[@honnorjustice]

We own our house and don’t like renting. However, we do realize now that it owns us. We chose not to travel during the winter because we are afraid that it might have issues like frozen pipes. We decided we can travel during the summer. Now the issue is our plants and mail. We also had pets. Our possessions rule us. Coincidentally we found someone that needed a place to stay for the summer so it’s working out for now. We will need to resolve this in the future if we want to travel!

[@ThisIsOurRetirement]

You could look at “Pet House sitters “they come and stay at your house 🇺🇸🌺☕️🇨🇦

[@nikki_jp4216]

Maybe try Trusted House sitters to be in your house when you are away, or People like us for home exchanges (not necessarily simultaneous). Can ensure your house is looked after and you can also do house sits/exchanges for cheaper travel

[@diann546]

After you pay for the mortgage, taxes, upkeep, replace major fixtures etc, do you really make that much on a house? When you add it all up, I am not sure. Then there is the inconvenience of repairs and needing a sitter of sorts if you wish to travel. I think you are on to something. The only thing I would be concerned about is the change of ownership of the building. I don't know if big cities, in the U.S. have laws against it, but my understanding is that all rent promises are null and void, if the building changes hands. I have a friend who is doing what you are doing. The landlord is 40-50 years old. What happens if he passes? The rent would probably rocket up due to current economic conditions. Good thought provoking video.

[@ThisIsOurRetirement]

Thanks for watching we rent from a large corporation who owns over 100 buildings and all they do is rent , so we are happy we wouldn’t rent from an individual. Also our rent increases are around 2% so that is great 🍻🙂👍

[@lizaroberts2954]

Thank you Tina and Norm.. so appreciate your words of wisdom from your experiences ❤❤

[@ThisIsOurRetirement]

You are so welcome Liz Cheers 🌺

[@evadeanu1]

Beautiful story! So happy for you guys. Keep well.

[@ThisIsOurRetirement]

Thank you so much! Cheers Eva 🌺☕️🙂

[@marykovalovich5914]

You both are awesome . Please keep doing what you’re doing.

[@ThisIsOurRetirement]

Thank you so much Mary 🌺🍷

[@irishinusa1615]

Always a blessing hearing and sharing such experiences. Well done 👏

[@ThisIsOurRetirement]

Thanks for listening

[@lyndawilson1874]

Wow great video! Thank you so much for sharing Norm and Tina! 3 years away from retirement God Willing! 🙏🏼😃

[@ThisIsOurRetirement]

Our pleasure! ☕️🙂

[@marilynstuart7405]

Great advice as usual guys. Love listening to you both find your so calming both in your voices and demeanour, from U.K. ps I used to live in Canada in the 70s.

[@ThisIsOurRetirement]

Awesome! Thank you! ☕️🙂

[@Rossy-tf2jh]

Well said, guys ! Thanks !

[@ThisIsOurRetirement]

Thanks for watching

[@deborahcaldwell9775]

Very validating

[@ThisIsOurRetirement]

Thank you Deborah

[@Johnny53kgb-nsa]

Very interesting information. Thank you. John.

[@ThisIsOurRetirement]

Very welcome 🙂

[@macumbajc]

Thanks for sharing. 😊

[@ThisIsOurRetirement]

Thanks for watching! 🍻🙂

[@whiterabbit3439]

Wonderful encounter, Tina and Norm!

[@ThisIsOurRetirement]

Thanks so much ☕️🌺

[@ToddDragonflyHikerBeal]

great story, we were heading the direction of buying but reconsidered

[@ThisIsOurRetirement]

Good luck 🌺☕️

[@diannam9999]

Hi Norm & Tina. I’ve been watching your videos since COVID and I just discovered that you guys live in Ottawa/Kanata (as do I). My husband retired in 2020 and I retire in 2026. I’ve taken many of what you have talked about as great advice. Our goals are similar to you guys - live here in spring and Summer and be in Europe or Australia/NZ in the winters. And I should mention that our way of travel the past 15 yrs+ have been on cruises. We have considered doing a 2-4 month cruises as well.

[@ThisIsOurRetirement]

Thank you Diann!

[@kathyoliva6966]

Love your videos thank you !

[@ThisIsOurRetirement]

You are so welcome! 🙂

[@zoemurillo6838]

So happy this has worked for you. Downsizing or renting in our area would be much more than staying in our current home and if it wasn’t for family leaving the country sounds temping

[@craigo2142]

Amen!!! retirement should be enjoyment. And, something you didn't mention but imagine it applies to your building is security and a front desk to watch over what comes and goes at least during the day and will be there to sign for packages. Love that!!

[@ThisIsOurRetirement]

Yes we have security it’s hard to get in , another layer that makes you feel great Craig 🍻🙂🌺

[@Jocantral]

Wonderful story - serendipity! The more I hear you speak about rent vs own, I lean more toward eventually renting. Thanks once again.

[@ThisIsOurRetirement]

Glad it was helpful! 🌺

[@ingleringlet-snipps3rd449]

Thank you again for another excellent video. You both look amazing! Another benefit of renting vs owning is that once someone passes away, there is no issue with having to sell the property to heirs or needing a will or trust to take care of the estate.

[@ThisIsOurRetirement]

We agree! But always have a will to prevent a government tax grab.

[@jimjewell7649]

you 2 are such a breath of fresh air ! great stories and opinions ! well done. i live and have always lived is SW ontario near windsor and the prices 8 years ago were perfect to do what you did. Now that is not the case, sadly..we are 3 to 4 years away from selling our house to fund our returement, but our choices have become very limited because of the cost of housing and everything else gone up so much. We know we want to summer in our town and will probably buy a very nice camper and live in the campground during the summer...winter has many options as well...i would love to have a chat with you 2 about you initial budget vs real budgets....

[@ThisIsOurRetirement]

There are always opportunities Jim Cheers 🌺🙂

[@wcg66]

You guys were an influence on our decision to sell and rent. I think I started watching because of your Portugal videos, which was part of our travel plans too ;)

[@ThisIsOurRetirement]

Awesome 🌺☕️

[@marilynrybak9154]

I would welcome an electric bill of $100/month we live in the USA and our electric bill over the past 3 years has sky rocketed. For just two of us- and we do y even turn on the television- our electric bill was over $500 last month! I keep the thermostat very low in the winter (we simply bundle up in warm clothes, socks and slippers) and high in the summer - the A/C is set no lower than 79 degrees. The electric bill, like everything else over the past 3.5 years has gotten so terribly expensive.

[@ThisIsOurRetirement]

Wow $500 is a lot 😱for hydro 🙂

[@ygm_dom6702]

A little tip. I have an 80-gallon water heater at my house, and I realized it was running all the time. My electric bills were from $400 to $700 per month. It is a 4 000 sq. ft. House. I put a timer on the electric water heater so we have hot water in the morning and in the evening, my electric bill went down over $100 per month. Also have your ac checked to make sure it is efficient we have ours set at 77 degrees in the summer and don't run anything in the winter in Florida😊

[@zoemurillo6838]

Wowza! Does your utility offer a free energy check to check for air gaps, insulation, etc? That seems excessive given how conservative your usage is. Wishing you the best

[@TheFtm22]

I discovered your channel and am enjoying all your videos. My husband just retired last month (early, though not as early as you!) and we own our home. We don't plan to rent, but I can appreciate your decisions based on your lifestyle. Are you in a 55+ community or something like that? I've not found a video of yours which discusses that. Thank you for all your enjoyable content!

[@ThisIsOurRetirement]

No we are not in a 55 community, just a regular apartment building but, the residents are 80% retired it’s just how it happened over time.

[@filiptalev3869]

Love your videos. You are such a wonderful couple.

[@ThisIsOurRetirement]

Thank you so much! 🙂🌺

[@33Jenesis]

Most ppl the free and clear home they live for decades is the biggest retirement nest egg. It is wise to think about cashing out and how to allocate this sum wisely. A small single level house in a safe and friendly neighborhood with airport grocers and medical facilities nearby is ideal. But now such properties are pricey. Condo/townhome has HOA and special assessments to consider. Unless it is a 55+ community, noise and neighbors too close are also bothersome. Apartment and mobile home park if not having rent control or faces change of ownership (that may take away rent control), the rent increase could be a fear factor. Location is important. Convenience is important. Wanting to be close to family members is another concern. There is no perfect solution. Taking every pros and cons into consideration, the choice you make would stretch your retirement fund further and retirement life more at peace hopefully.

[@ThisIsOurRetirement]

It definitely worked out well for us thanks for watching Cheers 🍻🙂

[@lealal1]

I think your decision you made was fantastic bu I worry about the rent climbing year to year?

[@ThisIsOurRetirement]

We are lucky to have rent control

[@customdrums]

Thanks

[@ThisIsOurRetirement]

Your very welcome 🙂

[@RoderickSpoke]

Great idea if you have secure rental property, in the UK landlords are selling property on a regular basis, love the balanced content.

[@kristinpayne1825]

You have made me think about this option also.

[@ThisIsOurRetirement]

Nice to know, although you have to do your own research. Good luck.

[@davidthom9159]

I sure can relate. I live in Kanata in a 37 yr old house that is becoming a burden. I would do exactly what you did tomorrow but I have two others in the house who don't want to. It's also worrisome as I can't imagine my wife taking care of everything if I should pop off. So, good for you two ! I'm envious.

[@ThisIsOurRetirement]

This was part of our reason to sell our 20 year old home, we had done so many repairs but there were many more on the horizon. Good luck David.

[@brians7419]

Thanks for sharing your journey! It’s always interesting to hear from you. Like you, I’ve read the book “Die with Zero”. It really brings things into perspective; especially now that we are 7 years retired.

[@ThisIsOurRetirement]

Definitely a thought provoking book 📕 Cheers ☕️🙂

[@dandaley7886]

Wonderful video and advice! We’ve rented for many years in Canada and don’t regret. Your dad and mine would have the same opinion, wasted money out the window. Take care!

[@ThisIsOurRetirement]

They were the first generation to own homes, prior to the fifties working people rented

[@rosemarie9956]

Very interesting topic of discussion. We will consider this in the next few years. After many years I have finally grown to love the Ottawa area but definitely would want to be in a walkable community. It has worked well for you but wondering if you would have looked in that area if you didn’t have family nearby? This will be a strong factor for us. Like you we also want to be somewhat close to an airport for travel adventures. We might have a look at the Niagara area however - do you find a huge difference in winter weather where you are now compared to Ottawa? Just so many factors to consider

[@ThisIsOurRetirement]

Yes the weather is a lot milder down here in Southwest Ontario and easy access to Toronto airport by car or train Rosemarie.Alo easy to hop over to the 🇺🇸 USA at Niagara Falls or Sarnia Cheers ☕️🌺🙂

[@flyorraofficial]

Hi I'm low income disability payments and rent government subsidised apartment. I never want to leave. I always ask myself if i had a house or apartment paid for what hassles and extra costs I'd have. I'm in Australia. My place is small, with a tiny kitchen. Love your channel I love watching channels like this, where they just sit and talk in front of a camera. Your talking is fantastic

[@ThisIsOurRetirement]

We are so glad you are enjoying our channel have a wonderful day ☕️ 🇦🇺 🙂🇨🇦🌺

[@jetv1471]

Sounds nice 👍 like your tucked in like a bug in a rug . That will be us when we give up on the house … a very small apartment ( so we don’t collect STUFF ).

[@kevinfestner6126]

I have saved enough and continue saving more for retirement while paying off my t home mortgage. I don't need to sell to finance retirement. That's my plan. We have no rent control. Those renting are being destroyed economically as rents are rising. Having the fixed cost of a mortgage is a relief. Yes home repair is there, but I have budgeted for it. I live in Las Vegas, bay bee, and freezing pipes is not an an issue.

[@ThisIsOurRetirement]

Great to hear from you Kevin Cheers 🇺🇸🍻🇨🇦

[@eddieloujones2673]

There is a financial writer named JL Collin's who has a blog called "why your house is a terrible investment". It's worth a read. Controversial but he makes good points.

[@ThisIsOurRetirement]

Great point Eddie thanks for sharing ☕️🙂

[@christopherprice3226]

This is a lovely story we are comparing both. My only hold up is my music hobby with guitars and amps. Im not ready to give it up at age 55. Neighbors in condos or apartments do not like 100 watts of 80s rock. Love you guys our fave retirement channel is you and Norm.

[@ThisIsOurRetirement]

We hear you Christopher 🎸🎸condos or apartments might not be the answer for you 😂😂 Glad you enjoy our channel Cheers 🍻🙂🍷

[@susanhardin5182]

No chance encounter my friends. Divine appointment 😊

[@ThisIsOurRetirement]

Love that Susan! 😀😀

[@Savannah-ed4rv]

I hope the man that you had the chance encounter with doesn't know you found such a good deal! He might just follow you to your town!

[@ThisIsOurRetirement]

It is a 6 hour drive from where we met…who knows

[@philannmocan6339]

Always remain open to differnt scenarios....but, rent control has really made a huge difference for you and any who have it. Had you been at the mercy of "rentals" in the past eight years it would definately be a different scenario.

[@ThisIsOurRetirement]

Rent control is still widely available in Ontario so the opportunities are still there Phil Cheers 🍻🙂

[@tanyajohnston8262]

Hey Tina and Norm, I know you came to Goderich for a visit, can’t remember if you also visited Bayfield or not. If you ever come this way again, take a tour of Pine Lake Camp. I’ve had many family and still have one family member live there but there is also camping there. They have a small man made lake, an indoor pool, sauna and whirlpool, many activities, a 3 par golf course, mini golf, etc. so much. Nice place to live but also great for camping. I wish I could move to an apartment or into Pine Lake for now, but my husband loves outdoor work so he won’t want to move from our property for a long time. Having said that, I don’t have to do the outdoor work and can enjoy the property. Thanks for another great video.

[@ThisIsOurRetirement]

Yes we have visited Bayfield it’s all very pretty around there Tanya ☕️🙂

[@BonsaiJCan]

I grew up with my parents having a trailer in this park, lots of good memories. Our trailer was near the upper little lake if it's still there.

[@user-vb1ct6dj1z]

What a wonderful story!❤ I think you were quite astute. Being open-minded will always reveal new vistas never imagined by the more conservative and narrow viewpoint. Keep up the good(and very interesting) work.-Mike from Ottawa🍻🏒🥅🇨🇦.

[@ThisIsOurRetirement]

Glad you enjoyed it! Good morning Mike ☕️🙂

[@Jacquie_Kirk_111]

Couples have an easier time relocating because they have each other. Widows etc have a much more difficult time moving to a new town and not knowing anyone. It's tough being single, lots of financial disadvantages ( not to mention we don't get tax breaks the way married people do).

[@ThisIsOurRetirement]

We agree Jacque

[@SoapboxBob]

You really lucked out. I mean, I would be sold on a swimming pool. Yet, rents have skyrocketed here in Calgary. Your video certainly gives fuel for doing more research if and when the time comes.

[@ThisIsOurRetirement]

Maybe smaller towns outside of Calgary are more affordable. Thanks for watching.

[@Jake-co3wk]

Well the upswing in the markets has certainly assisted in that.

[@ThisIsOurRetirement]

It’s been tremendous

[@Mike-ym6rl]

Hey Tina and Norm,,,,can you recommend a website for Canadian rent controlled properties?

[@ThisIsOurRetirement]

We don’t know of one Mike but any building built before 2018 in Ontario is rent controlled 🍻🙂

[@sheilaa1333]

My mother downsized to a condo in a 55+ community and it works well for her. She can still do as she pleases with the interior but she has none of the exterior maintenance - and she’s made a lot of friends who all look after each other. I’ve convinced my husband we’ll do that or rent for the first few years while we travel extensively- and I’m guessing we’ll never go back to a house, but never say never. 😁

[@ThisIsOurRetirement]

Good luck Sheila!

[@marthonic1]

Such good timing for you guys! Sadly in SW Ontario now the rent would likely be double what you guys pay and an available place more difficult to find. We’ve considered renting but I’m such a backyard person the thot of apartment living is a bit daunting. Keep up the great videos! 😊

[@ThisIsOurRetirement]

You can still find one bedroom apartments starting around $1500 pm in Southwestern Ontario

[@marthonic1]

@@ThisIsOurRetirementperhaps but not one that likely meets all our requirements and certainly not in our larger city. But time to start exploring ALL our options, only a few months til retirement and everything feels up in the air…

[@murraytown4]

Ottawa here. To be fair, you cannot compare living costs in the nation’s capital and southwestern Ontario. One is not necessarily better than the other. It’s a matter of lifestyle desires and expectations. Had you stayed in Ottawa, your experience would likely have turned out to be completely different.

[@ThisIsOurRetirement]

The apartments we were looking at in Ottawa were definitely in the suburbs and not downtown. Southwestern Ontario is milder which is nice ❄️☃️❄️☃️

[@thriftytowers7160]

Even tho I'm only 61, i've been starting to think about down-sizing to a smaller flat. I had totally forgotten about your 'advice' re considering rental. Rents are extortionate where I live in UK, minimum £1000 per month for a flat with no utility costs or property tax included. Super-expensive but I will still consider as an option. Thanks!

[@ThisIsOurRetirement]

Good luck we don’t pay property tax here , try to look at a cheaper area might be worth the move 🤔Cheers 🇬🇧🌺🇨🇦

[@julespea9793]

So happy you got that deal.Like many we dont have rent contol here in NZ and the competition for rentals is unreal there would be no way i could afford the weekly rent on my home if i didnt already own it.😢 Ismyour rent set indefinitely or whilst you live there? Love your videos and different point of view on retirement... look forward to next one ❤

[@ThisIsOurRetirement]

Thanks so much for your kind words, under rent control the increases are set by the provincial government usually around 2% per year. There are a few differences between NZ and Canada for instance old age pensions are not means tested, in fact no government paid benefits are means tested in Canada. We really enjoyed our time when we visited NZ some years ago. Thanks for watching we do appreciate you.

[@KM-dd1hp]

Thank you Norm and Tina! I really appreciate your stories and advice which are thoughtful and kind. I am contemplating retirement in less than 10 years and your youtube channel has really helped me in my planning. Keep up the excellent, valuable work!

[@ThisIsOurRetirement]

Wonderful! that’s great to hear glad we are helping you 🙂🌺

[@lisa.pb123]

I would like to see a video about how you downsized. Did you donate most of it? Were you able to sell some things and raise some money? How do you sell in a safe manner? Love watching your videos.

[@ThisIsOurRetirement]

We have done videos on this Lisa 🌺🙂

[@rubysrithavanathan3212]

Renting makes good sense.

[@ThisIsOurRetirement]

Yes it does 🌺🙂

[@eddy_creative]

Hi Norm, have you done any videos on your stocks/dividends portfolio or what you invested in? From what i gather you sold your property, but did you put all of that into stocks? or just a small portion?

[@ThisIsOurRetirement]

We have mentioned some of what we have done we have to be careful as not to give financial advice 🍻🙂

[@eddy_creative]

@@ThisIsOurRetirement Very wise! :)

[@2for1grabbar75]

Thanks for the interesting video. If I heard you correctly, you’ve been in the apartment for 8 years which means that in Ontario, you are protected by rent control. For those considering apartments in Ontario today, rent control no longer applies and renters will be subject to the whims of the market. I’ve long thought that renting makes sense in later life but in the current free market climate and with institutional money pouring into the rental market, I have to wonder if owning is the only option for housing security.

[@ThisIsOurRetirement]

In Ontario most rental apartments apart from downtown Toronto built prior to November 2018 ARE rent controlled buildings. New built apartments are not, however our landlord continues to build new apartment buildings and the yearly increases are less than 5% in non rent controlled apartments.

[@mozerm]

I'm considering doing this as well. I'm still not 100% sold on the idea because ideally I want to stay in Kanata and rents are high here but the idea of adding $1.5M tax free to our retirement accounts is hard to ignore.

[@ThisIsOurRetirement]

It is a tempting proposition, with good investments you could easily pay the rent from dividends and have plenty left over.

[@benyablonski6278]

Howdy Norm, Tina, Is there one place I can go to view / see your links to the items you recommend? ~ Ben from Vancouver ISLAND

[@ThisIsOurRetirement]

We do list them in the description of each video Ben Cheers 🍻🌺🙂

[@Andrew21882]

Do you mind sharing what stocks you own or maybe making an update video on that. Thanks.

[@ThisIsOurRetirement]

We are looking to do an updated videos discussing this Andrew 👍🍻

[@Andrew21882]

@@ThisIsOurRetirement Thank you

[@lovethomassowell]

Wonderful shared experience. We sold our big home and rented for a few years but the rents were going up significantly from year to year. We purchased a smaller condo in a new building when fixed-rate interest amounts were very low and have come out ahead financially. With the exception of property taxes and HOA fees, we are largely in control of our own destiny. Like you, we are able to keep the bulk of our capital working for us in investments while prudently leveraging our investment returns on our condo purchase.

[@ThisIsOurRetirement]

We discounted a condo because of the HOA fees, we have known a few people who had to sell because the fees went up to much, especially if there is a big repair.

[@jacquelineskelton2897]

Here in the UK rental accommodation is sparse and exorbitant in cost. Plus we have no security of tenure and can be evicted with just a few months notice if the landlord wants you out for no particular reason.

[@ThisIsOurRetirement]

Thanks for sharing yes this must be very difficult 🌺

[@robertchandler3914]

It's the old question of should I rent or own in retirement? "Chandlers Retirement Life"

[@rosemarie9956]

In Ontario there is rent control for anything prior to 2018 or 2019 Anything after that and depending on what you signed (usually for 1 year) can have any rent increase. Now hopefully it would be reasonable as most landlords don’t want the hassle but so many people are looking for apartments so lots of competition. This is what I understand anyway. Rents in the Ottawa area where they originally lived are now very high.(this was a reply to someone’s comment but ended up here 😂)

[@ThisIsOurRetirement]

Any rental apartments built before November 2018 are rent controlled apart from an area in downtown Toronto.

[@tobyo99]

We're waiting for an appraisal to be done so that we can sell our house. Maybe that person will have something interesting to share with us? 🤞We're also looking forward to not being homeowners any more. We can't keep up with everything that needs doing.

[@ThisIsOurRetirement]

Wouldn’t that be awesome if that happened to you!

[@user-um9vd2xm1v]

I hope you shared the info about what you found to the man who first told you about renting. Who knows, you may be his “chance encounter” to live in a place where he will enjoy a cheaper, better place to rent. 😊

[@ThisIsOurRetirement]

We never saw him again we did move 6 hours away 🌺🙂