Retirement: The best time of your life

Retirement: The best time of your life

Your Retirement: Will it look anything like your father’s retirement? What has changed?

Step into the Best Time of Your Life!

Your Retirement:

Will it look anything like your father’s retirement? What has changed?

Let me count the ways……

Most importantly, you are likely to enjoy a longer retirement than your father. Life expectancy continue to increase. In 1952 our old age security benefit began. At that time average male life expectancy was 66 and the benefit was to begin paying at age 70. Today people may retire sooner and life expectancy for a male is age 75. These are just the averages. We hear of more and more seniors reaching ages in excess of 100 years of age.

This longer life expectancy provides both opportunities and challenges.

Lynn Whetham


Your father’s retirement was considered the end of something. The end of work, the end of making a contribution, the end of adding value and nearing the end of life. No wonder many avoid thoughts of retirement. The Japanese have a much more positive concept of retirement which would translate as “a second life”. Today there is a new retirement reality. What has changed? What options are now available? How can you take control and design the retirement or un-retirement lifestyle of your dreams? Retirement can be a time to start a business, travel, spend time with family, or volunteer. It’s pretty exciting! Tune into Stepright with Lynn to hear more about what retirement could have in store for you: Retiring; from what? with guest Bill Schwarz, B.A. J.D.

Planning is critical to create choice for today’s retiree. Along with the opportunities inherit in this longer healthier life is the risk of outliving retirement savings.

Why do i need retirement planning?

Three steps are critical to creating your fulfilling second life.

Step #1 Take time to imagine your retirement and what you want it to look like. Don’t skip this step. Remember the new retirement is about having choice. You and your next door neighbour don’t have the same interests or desires.

Step #2 Consider what cash flow that lifestyle will require. For instance, cash flow requirements are very different for someone who wants to spend their time on the golf course or traveling compared to someone who will spend their time enjoying grandchildren and gardening or who will open a small business.

Step #3 Get some help preparing a written plan that combines your government benefits, employer savings and pension plans and your personal savings. Make sure inflation is accounted for. Start with a plan that shows just what you are doing today. If it’s sufficient you know you are on track. If it’s not sufficient you can set some goals to get there.

Make a written plan: Your second life is far too important to leave to chance.

Lynn Whetham

Need help planning your retirement? Contact Lynn Whetham from Stepright Capital Planning with any questions you may have.

Phone: 519.448.3477
Toll Free: 1.866.218.6467

For more on this take a look at: Goodbye Freedom 55: More Canadians spend their retirement years working.