Retirement Isn’t a Date—It’s a Journey
Retirement is often seen as a single day on the calendar—but in reality, it’s a multi-year journey. You don’t simply wake up one morning and retire. The process starts well in advance, through careful planning and intentional action.
To help guide you along the way, we’ve created a five-part series that breaks down the steps to take during each of the five years leading up to retirement. As we move into Registered Retirement Saving Plan (RRSP) season, we’ll be sharing one article each month, providing timely, actionable advice you can use right now.
This series draws heavily from Christine Benz’s How to Retire, a trusted resource that blends both the financial and lifestyle aspects of retirement. It covers key topics like saving, withdrawal strategies, insurance, and estate planning, alongside equally important areas like wellness, belonging, and meaningful pursuits.
Each phase builds upon the one before, creating a foundation for gradual de-risking, thoughtful preparation, and emotional readiness. The approach reflects both proven financial strategies—such as catch-up contributions, bucket withdrawal strategies, and partial annuitization—and a holistic view of what it truly means to retire well.
Year 5: Time to Commit
You’ve built your plan—now it’s time to activate it.
Final steps to take:
- Set your official retirement date: Notify your employer and prepare for final pay, vacation payouts, and benefits transitions.
- Apply for CPP, OAS, and other pensions: Know the timelines to avoid payment delays.
- Create a monthly drawdown strategy: Decide how you’ll fund expenses—RRIF withdrawals, dividends, annuities, etc.
- Build your retirement schedule: Map out how your days will look—volunteering, hobbies, fitness, family.
- Celebrate the milestone: You’ve earned it!
Takeaway: Retirement isn’t the end of something—it’s the beginning of the life you designed.
We’re here to guide you—both on the road to retirement and throughout the journey beyond.
Whether you’re five years away or just a few months out, our team is ready to help you plan with clarity and confidence. Feel free to reach out anytime to discuss your retirement goals in more detail—we’re always just a call away.
Sincerely,
Harvey Morrison Private Wealth