What will your retirement look like?

This is a question I read about quite a bit but we haven’t really answered it for ourselves.  We have some ideas though…

Let’s start with what we don’t want:

  • Being lazy around the house
  • Absence of hobbies
  • Little exercise
  • Void of personal interests or passions
  • Lack of travel
  • Struggling to make ends meet
  • Thinking about money

I run My Own Advisor because I’m passionate about investing and this site is an enabler to a financially-free state of mind and existence.  Hopefully you’ll continue to follow along with my journey because you want the same…

To answer the question above here are some thoughts that crossed my mind – what we hope our retirement will look like:

  • Spending more time with family and friends
  • Frequent travel
  • Active in current passions; sports, getting more exercise
  • Trying new things; gain new knowledge and skills
  • Volunteer our time including to more charitable causes

To help us realize these objectives we intend to do the following in the coming years:

  • Get out of debt
  • Maximize contributions to all registered accounts, both TFSAs and RRSPs
  • Grow our non-registered portfolio
  • Continue our education and professional development
  • Explore part-time work opportunities

We realize studying the stock and bond markets or worrying about interest rates does us no good.  We have a plan in place that when combined with other assets will generate income to exceed our expenses.  This financial plan will be bolstered in the years to come to include a complete documentation of assets, debts, insurance policies and updated estate planning documents.

Even though we are in our early-40s retirement planning is very real to us now.  We will continue to enjoy the present but with every passing month my wife and I inch closer to the passive income we need to call it quits.  (My next dividend income update will be posted this week.)  Our crystal ball is always very cloudy but we’re looking forward to seeing what the future might have in store for us.

What will your retirement look like?

24 Responses to "What will your retirement look like?"

  1. Mark, anyone starting to map this out well before retiring is wise. Things will likely change some in time but proper planning ahead gives people a good advantage.

    By thinking and writing about this they’re giving themselves motivation and better reasons to achieve financial independence and success in retirement.

    They’re also beginning to assess the costs of their ideal retirement; preparing mentally and financially for what a happy and active retirement will look like.

    Committing this to written goals can be the next useful step.

    Good for you to be working on yours.

    1. I appreciate what you wrote. I think “retirement” is much more than a money matter, we’ll need to prepare for it mentally and physically – that’s a bigger challenge than the money issue. Writing these things down really helps me get my head wrapped around the future.

  2. I am a ways off from retirement but I’ve been told it’s a mental hurdle to cope with the change of pace in everyday life completely separate from finances. Its one thing to retire with an active and full life outside of work but far too many people end up retiring and getting bored after a year or two because they don’t do much outside of work. You can retire with a ton of money but with no hobbies, plans or social life it’s almost pointless. Easier said than done to achieve the perfect balance but something to keep in mind for sure

    1. Well, we’re a ways off from full-on retirement as well Dan but we’re starting to think about where we want to be in 5-10 years. 10 years from now, we might be working part-time. I want to have a plan – how we intend to spend some of that time vs. working 40-50 hours per week. I simply know we want to be active and healthy – that’s our wish anyhow.

  3. Everyone will see retirement differently, and even when they want to retire. I see many posts about wanting to retire early, but that usually means they are unhappy with their work or work environment. Some have health issues, others see retirement as being able to all the things they can’t do now.

    I did not plan to retire at a specific date or age, in fact even at 65 I really did not see retiring soon. I began to consider quitting when I realized the income my investments were generating was actually exceeding my needs. Our retirement was gradual and as work fades the obvious begins, travel, doing or spending more time on hobbies, and spending more quality time with spouse & family.

    Over time retirement can become more enjoyable or boring. Much depends on ones attitude and willingness to adjust to the change in life style. We started spending time in Arizona and living in a park community with activities. This allowed us to meet people and where there were lots of activities to participate in if we wished. Our travel became day or short trips to see different parts of the country. And of course I spend a fair amount of time visiting different forums and blogs so I can pass on annoying comments or opinions.

    For us we are great full that our investments eliminated money as an issue. If we only had cpp\oas and watching our capital diminish, things would be much different

  4. If you don’t plan on working for your retirement now, financially and also with exercise (both), you are simply deluding yourself, because you must have both to succeed (being healthy and broke is bad, being dead and rich is worse).


  5. Morning Mark;
    One should always have a goal in mind. If not in hockey ( I couldn’t help myself) then anything else, finances. health, family, sharing, etc
    When I got divirced, 1990, I set myself a goal to be around for my children so I started to exercise. I am still here and my “kids” are all established and doing OK. I still want to be around for them but also for myself. I find life interesting. No one to my knowledge has come back from the dead to say Hey! Come on over to the other side.
    SO now at 65 I still go to the gym and run a bit and enjoy mself. I am also still employed but that will end soon.
    Keep a goal in mind. It brightens your day. My latest at the gym is (better in French) is 100 pour 100 or saying it “100%”. But what I am having fun thinking of is pushing 100lb dumbells between here and 100 years of wisdom or 100 lbs for 100yrs. Thats 100lbs in each hand.
    Will I make it? Maybe, maybe not. But I am having fun with it pushing myself with the thought that I just might be able to do it.

    Still don’t feel like sitting in a rocking chair out on the veranda and watching the world go by. Get out and enjoy life to the extent that you can.


    1. Great stuff Ricardo. I’ve started to set more goals this year, more exercise is one. Going out for a hike later today. Just finished a few rounds of push-ups this morning as well. I need to be in better shape, and 2016 is the year I’m starting.

      I absolutely do not want to sit in a rocking chair. Life is too short.

      Thanks for sharing your progress and reading – inspirational you’re running at age 65.

        1. Ricardo, that’s a great achievement for almost anyone. For someone 65 and running 1/2’s that’s fantastic. As a former marathoner and someone who still runs quite a bit I understand what it takes.
          I’ve run Ottawa 3 times and its where I got my Boston Qualifier so a special place for me.

          1. Thanks RBull
            A conflict of interest means I won’t be at the Army Run this year as I committed to another run.
            But for fun I signed up for the Perth Kilt run in June – 5 miles (around 8K). Naturally I signed up for the “Warrior” class.
            They are trying for the Guiness world record of most runners in a kilt


      1. Awesome news on the exercise goals and getting in better shape.

        I’ve changed up my program recently to body weight strength training on 3 non cardio days, and it now includes a lot of push-ups (5 different types in each workout).

  6. Lately, my thought are less on what to do in early retirement. They are more in the now: how can I make that even more valuable, how can I do more of what I value now. Of course, it has the balance with the future: we want to continue to see the world and prepare our kids well for the real life.
    It has to do with goals for me as well. Running is one, after a few years of doing almost no sports (except 10 times a year to the gym) I now want to run 20K. I also want to show one country to our kids each year. On a higher level, I want to present for them when they need it. It is hard to put a pass or fail on this last one.

    In any case, early retirement is not really for me. I turn 40 this year. Best case is a “not at legale age” retirement. I am fine with that, so, making the best of the now is equally important.

    1. Balance in life is very important to us. We’re saving for the future Amber but we’re also planning another trip this year, likely for 1-2 weeks to Vancouver. Life is short, you gotta live.

      The plan is also to get into better shape in 2016, so I can enjoy any early-retirement that comes our way. There is no point in saving for the future if a) you are not enjoying today and b) you have no health. Just my take 🙂

      The big 4-0? Good on you. I still feel 25 – most days! Thanks for reading.

        1. I was just on your site. It sounds like you’re on a good path, although I don’t trade options.

          Never been to Belgium. We were in Scotland this past summer for 2 weeks. That was great. Eventually we’ll make it to your country.

  7. Awesome Ricardo. You’ve got 9 years on me but I hope to still be running at a good level then and beyond. You’re motivating me to get back into the racing scene!

    There’s no better combination than good exercise and some fun while you’re at it so the Kilt run is perfect. Maybe you guys will be lucky and smash the record.

    Mark, I can imagine you got your exercise with the snow. We had heavy rain that eliminated ALL of our big dumps of snow. it’s +9 now and rising.

  8. There is so much more to retirement than money. You need some, but man that’s pretty much all this world is focused on at present. Find your passion and get out into the world and enjoy it. Work sucks let’s face it!


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