Let’s be honest—just the word “Retirement” can stir up a whole mix of feelings. Hope. Relief. Excitement. And sometimes… uncertainty. If you’re approaching Retirement or helping someone prepare for it, you’re not alone in wondering how to plan for this next big chapter. The preretirement phase—the time before the official “start” of Retirement—is one of the most important parts of the entire journey. Why? Because the more thought and care you put into this phase, the more confident, free, and fulfilled your Retirement is likely to be.
This stage is all about vision and preparation. It’s where your ideas, dreams, and maybe even a few anxieties begin to take shape. You’re not retired yet, but you’re beginning to imagine what that life might look like. You might find yourself picturing lazy mornings with coffee and a book, or grand adventures across the world, or maybe it’s just the idea of finally having the freedom to say yes to what you want, when you want.
Start here. Not with numbers or spreadsheets (we’ll get to those)—but with imagination. Ask yourself: What does a good day in Retirement look like? What about a good year? Would you like to Travel? Volunteer? Take up painting, hiking, or mentoring? Your answers are yours alone—and there’s no “wrong” way to retire.
If you have a partner, now is a great time to have open, thoughtful conversations about what you both want. You may discover you have shared dreams—or that you’ll need to compromise in some areas. Either way, it’s better to explore those possibilities now than to be surprised later.
Create a “Bucket List” if that helps, but don’t limit yourself to big, one-time events. Think about how you want to spend ordinary days, too. What kind of routines do you want? How will you stay connected, engaged, and joyful?
Now, once you’ve got some vision and direction, it’s time to take a closer look at your finances. For many people, this is where Anxiety kicks in. But it doesn’t have to. You don’t need to have every dollar mapped out right this second, but you do need a sense of what you have, what you’ll need, and how you’ll bridge the gap if there is one.
This is where professional guidance can be incredibly helpful. A financial advisor or Retirement planner can work with you to look at your income sources (like pensions, CPP/OAS, RRSPs, or other savings), create a spending plan, and help you set goals that support the Lifestyle you envision.
If you’re not sure how to find someone trustworthy, start by asking friends, Family, or colleagues if they’ve worked with anyone they’d recommend. Personal referrals often carry more weight than online reviews. You can also visit FP Canada or NAPFA to search for Certified Financial Planners in your area.
As you meet with advisors or planners, take your time. Interview more than one. Ask about their qualifications, their approach, how they’re paid, and whether they’ve worked with clients like you before. You should feel not only informed, but respected and heard.
If you’re also considering working part-time or transitioning into a new kind of work during Retirement, a career coach might be a great ally. They can help you explore meaningful second-act careers, flexible work options, or even entrepreneurial ventures that fit your evolving goals.
While numbers and plans are key, don’t forget that Retirement is deeply personal. No two retirements are alike, and yours should reflect who you are. That means building a Lifestyle that brings you joy, even if it looks nothing like the glossy brochures or TV commercials we often see.
You might find that your interests shift. That’s okay. Retirement isn’t a static state—it evolves as you do. What matters most is staying open, curious, and willing to adjust your plans as needed.
Maybe you’ll join a community choir or start Gardening. Maybe you’ll spend more time with grandchildren or get involved in civic work. Maybe you’ll move, or stay put and renovate. Whatever you do, make sure it aligns with what feels fulfilling to you.
And if you’re still figuring that out—wonderful. This is your time to explore.
The beauty of the preretirement stage is that it gives you the gift of time—time to dream, prepare, and set the stage for a life that feels rich in meaning. The more energy you invest here, the smoother the transition tends to be.
Don’t rush the process. But don’t put it off either.
Begin by asking yourself: What do I want this next chapter to look like? Then take a few simple steps forward. Call an advisor. Talk to your partner. Write down what makes you happy. These aren’t just tasks—they’re acts of self-care. They’re small doors opening into a big, beautiful future.
And remember: you’re not alone. If you’re looking for helpful tools or places to learn more, try visiting Retire Happy or the Government of Canada’s retirement planning hub for more resources and ideas to help you get started.
Next time, I will explore the Honeymoon Stage—that first exhilarating taste of freedom that follows your final day of work. But until then, take a breath, take stock, and begin shaping the Retirement you deserve.
Originally Published on https://boomersnotsenior.blogspot.com/
