Living just on CPP and OAS is not easy.
I 'retired' at 60, then my wife and I went through some rather trying financial and health challenges (me with cancer, followed by the Ft. McMurray fire and housing crash). Due to her work we relocated to Ontario, and then in 2020 she lost her job due to COVID. Due to age she 'retired' last year and began getting her CPP and OAS. I also get a small 'other' pension from my former career. We can just make it on that, but that is because our landlord is very generous and we have a great deal on rent as 'caretaker tenants. If we had to pay market value for rent that alone would eat up all my pension income.
We've applied for GIS but haven't heard if we are eligible for anything yet.
We've had to make some significant adjustments financially - especially in the past year as inflation eats up more and more.
Good thing we have no debt!!!
We can't afford to buy any property due to the housing price crash in Ft. McMurray - unfortunately we 'lost' a lot on the house we sold there, and the outrageous price increases here in Kingston make housing unaffordable.
But we've got a decent place, a little 'farm of about 10 acres right in the city, so we've got room to play
.
Fortunately I have some skills that help me make 'extra' money for 'playing'. Having been a former carpenter/cabinet maker/home renovator I do a bit of carpentry and renovation work for people.
Having been a preacher I preach about once a month and am fairly compensated with honorariums for doing so. And after moving here I worked for another 39 months as an interim pastor in various churches in the area, working at 60% part time, so that helped a lot.
And I just began a new career as my landlord has hired me to be a snowplow driver at several of his properties, so we do have a little bit of 'extra' income, so I say, let it snow, snow, snow! And he says maybe he'll take me on as a groundskeeper for several properties in the spring, summer and autumn months.
I fully expect I'll be working at one thing or another until my time is up here on planet earth!
Not complaining, we're blessed, got our health (generally), a warm, comfortable house to live in, good food, family all close by - kids and grandkids, still got my F-150 and quad, get to go hunting with my son, fishing with wife and grandkids. All is good