“We were lucky. That’s what Pierre Vromet and Lyne Tremblay often say. When we discuss finances with this 60-year-old retired couple, we realize that patience, prudence and creativity have played a far bigger role in their current well-being than mere luck…
Posted yesterday at 10am
Julie Chaumont Special Collaboration
Pierre Vromet and Lyne Tremblay have been married for 39 years and met at the Lucie-Bruneau Physical Impairment Rehabilitation Center in Montreal, where both worked as specialist educators for adults with physical disabilities. They didn’t make millions, but they had a “good” salary with benefits and a pension fund.
Hasty Retreat
At 44, Lyne found out she was suffering from a degenerative eye disease. At 50, completely blind, she had to retire. Thanks to the various tax measures the couple is entitled to, it doesn’t have too much of an impact on their financial health.
It takes six years, a lot of exhaustion and serious calculation, before Pierre can retire on his part. He was then 57 years old. The couple had figured—without the help of a planner or financial advisor—that they could continue to have the same pace of life…or almost. The price to pay: tick trips to Cuba. “But in the end we didn’t sacrifice her because I went to clean up! laughs Pierre Vromet. Uh yes! The newly retired has become a “housekeeper” to earn the money for the annual trips south. The world was turned upside down for this couple who already had a cleaning lady.
At 60, the age at which he could begin withdrawing from the Quebec Pension Plan, Pierre Vromet ended households. “If you wait until 65 you’ll have a little more pension, but how long will you live?” You do not know! I said to myself: I’m 60 years old, I’m still in top shape, you have to take advantage of that. »
PHOTO DENIS GERMAIN, SPECIAL COLLABORATION
Lyne Tremblay and Pierre Vromet
Be careful… and spend wisely
When it comes to finances, Pierre Vromet and Lyne Tremblay are rather reserved. No waste, no risky investments, a small cushion to deal with the unexpected. Lyne admits to being more concerned than her husband: “I don’t have a large income. For me, spending is always a bit stressful. »
Pierre Vromet recalls buying the couple’s first car in 1986, four years after he and his wife became parents. “It was a Hyundai pony bought for $7,000. Lyne was so stressed she thought we weren’t going to eat! [rires] »
Also on the initiative of Pierre Vromet, the couple bought a property in 1996 when they were just in their forties. He also “rapped” RRSPs.
It was still an investment in something that won’t go down in value and is likely to go up. We always thought it was our age.
Lyne Tremblay, on the house you bought
You guessed it, the couple took out a five-year fixed-rate mortgage that they religiously extended.
The semi-detached house in the district of Ahuntsic, where he still lives today, has been paid off in full, which relieves the budget considerably. “But we were lucky because mortgage rates just went down. When we bought it was 7%. This is the maximum amount we paid,” said Pierre Vromet.
The recent hike in interest rates is therefore not worrying our retirees, who are nonetheless stunned by current home and rental prices. They are aware that their possessions bring them peace of mind and wonder how some young people are able to achieve this. “If buying a house means you can’t go out, can’t travel, even in Quebec, then it’s not worth it! thinks Pierre Vromet.
Speaking of travel…
Recently, Pierre Vromet and Lyne Tremblay took a three-week trip to Europe thanks to legacies. “It wasn’t millions, but still… It’s not a bad thing why we could afford this trip,” says Pierre Vromet. “Of course, as long as we can, travel, anywhere, will be part of our lives. That is what we are committed to,” stresses Lyne Tremblay. Be continued.