Recently several Canadian banks reported survey results indicating Canadians believe they need $1.7 million or more to retire successfully.

I argue, the trick to a happy retirement, financially speaking, is not to concentrate on amassing an abnormal amount of wealth but to determine how much money will make you feel secure. In other words, how much money will you need to live and fulfill your visualized retirement lifestyle?

In a practical sense, how you spend your retirement time will determine how much money you'll need. If you plan to travel the world or indulge in expensive hobbies such a luxury sailing, then your financial needs will be much greater than someone with more modest plans.

What you don't want is to envision a retirement you unrealistically cannot afford. All this does is cause anxiety and unease. By creating a retirement that is realistic and affordable, you gain satisfaction and peace of mind. Calculating a good estimate of the cost of your retirement plans is the key to determining the amount of money you'll need to save.

To my mind, a financial advisor who cares, serves clients on more than asset accumulation, allocation and wealth transfer. They assist clients with answers and information on how best to build their realistic and well-rounded vision of retirement and help clients create and implement a plan to make it happen.

It may surprise you, a happy and fulfilling retirement is not as expensive as you may think!