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 2 – From Vision to Plan

With just four years to go, it’s time to move from big-picture goals to detailed projections.

Steps for this stage:

• Run retirement income scenarios: Project income from CPP/OAS, pensions, RRIFs, annuities, and investments.
• Review your estate plan: Update your will, powers of attorney, and beneficiary designations.
• Consider phased retirement: Look into reducing hours or transitioning to advisory roles if desired.
• Refine your expenses: Use a mock retirement budget to test your lifestyle plans.

Takeaway: Confidence comes from clarity—now is the time to fill in the financial gaps.

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