Retirement planning: Big question #3

How do I plan for course corrections in retirement?

It’s hard to figure out where you’re headed if you don’t know where you are and you don’t know where you’re going. It’s something many Canadian retirees can relate to, as they experience what are supposed to be the “golden years” of their life.

With feelings of guilt after unconsciously muddling through their life choices and then, out of necessity, cobbling together their money choices, it’s hard for retirees to get make wise lifestyle and funding choices. Trying to get back on your feet when detours are encountered can be extremely expensive and can rapidly deplete available retirement resources.

Planning your retirement shouldn’t make you feel either guilty or confused

At Retirement Navigator, we help retirees with plans that help them chart out their retirement journey. It’s not only so you get the most life out of the financial resources you have accumulated, but also so you can plan for course corrections and unexpected financial burdens. The journey you make will be defined by the life outcomes you choose to pursue – while having the confidence that you have a supporting funding strategy that tax-efficiently accomplishes these outcomes.

Retirement is when we realize that our resources — time, energy, attention, talent and money — are limited. Poor choices connect and collide with other choices and often limit our ability to complete outcomes that were even more important to us.

When you have a map to follow and a process that allows you to track your progress along the way, it becomes easy to respond to opportunities and challenges you encounter along the journey. Our Retirement Designer app provides you with the tools to pre-test potential course corrections responses to unanticipated events that may arise, allowing you to see the implications of choices – before you need to make them.

Retirement isn’t a singular event — it’s a 20-to-30-year journey. Course corrections are inevitable. Identifying when and how new responses are necessary is a critical aspect of successfully navigating your retirement.

Others you may like:
Retirement planning: Big question #1

Am I going to be OK?

Retirement planning: Big question #2

Where do I choose to source my year-to-year cash flow requirements?

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