Many say, “If only I had a lot of money, I’d really be successful at retirement.” I’ve interviewed hundreds of people about their retirement plans and money. I’m surprised the number who feel money is a major key to retirement success. The success of wealthy people in retirement is nuanced: while they have significant financial security…

The Go-Go Years (65-75) are the early, active, and most expensive phase of retirement. Many retirees are still in good health and want to travel, pursue hobbies, and embark on new adventures. But what about the emotional aspects? For many, they feel euphoria, relief and a sense of liberation. However, negative feelings may be felt…

According to research, having enough money to live comfortably is crucial, but it is not the only factor. A successful retirement is defined by “happiness, health, purpose, and financial security”. Successful retirees attribute success to a combination of proactive financial planning, disciplined habits, and a focus on non-financial fulfillment. They emphasize health and ensuring their lifestyle aligns…

Recently I was speaking to a HR practitioner who asked how she and her HR workmates can help employees prepare for retirement. She said, “We review the details of the pension plan and benefits when an employee leaves the company.” “But I think we can do more to better prepare employees for the retirement challenges.”…

Recently I’ve written about the importance of purpose in retirement. Unfortunately, 21% to 33% of retirees report struggling with a lack of purpose, motivation, or meaning after leaving the workforce. In Canada, approximately 33% of retirees report struggling to find purpose. About 27% indicate they often feel unmotivated and overwhelmed, while 24% specifically attribute their…

Over the years I’ve written and spoken extensively about the importance of purpose in retirement. Even though there is conclusive evidence that having a sense of purpose is a critical predictor of both physical and mental health as we age, I still encounter retirees who report not having an underlying reason, intention, or goal which…

This morning, I was speaking to a fellow gym mate about his 3 1/2-week cruise through the Caribbean. Each year he and his wife take on average 2 extensive cruises. As he spoke, I thought of the one cruise my partner and I took some years ago – an unenjoyable experience! For fun, I did…

Pension plans, RRSPs, estate plans and IPPs are one side of retirement.  These topics are common, but what about a retiree’s shrinking social network and the possibility of loneliness or depression? Data suggests that while most financial advisors (up to 92-96%) believe they are covering health and lifestyle “soft” topics with their clients, less than…

A major issue concerning retirement is financial insecurity, specifically the fear of outliving savings (longevity risk).  Recent data shows that nearly 60% of Canadians fear running out of money during their retirement. Beyond the financial worry, other critical issues impact retires are: 2. Psychological & Social Hurdles 3. Structural & Planning Issues ——— For financial…

This morning, I read a statement about loneliness.  It read, “I’m 73 and I can tell you the exact moment aging became lonely: it was when my daughter started saying ‘we should get together soon’ instead of picking a date, and I realized I’d become optional.” Loneliness among retirees and older adults is a significant…