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MAKING CENTS: What type of retiree will you be?

The prospect of impending retirement can often be equal parts exciting and stressful.

The prospect of impending retirement can often be equal parts exciting and stressful.

Whether you are ready to jump into retirement or you are slightly apprehensive about entering this next phase of your life, it is important to plan how you want to retire.

You need to determine how you will dedicate your time in retirement as well as what is financially feasible for the lifestyle you desire. Proper planning should help prepare you for the financial and emotional changes that take place when entering retirement. 

Before you decide when you want to retire, first consider what you want to do.

The variety of choices might seem overwhelming; however, it may be easier when you consider the things that are most important to you.

For some, this might be seeing the world and experiencing new things. For others, it could be spending time with family and enjoying the company of close friends.

Many retirees want a combination of all of the above. With seemingly endless choices, our team has put together a list of different types of retirees, with input from our very own clients.

The Volunteer

While your professional career may have come to a close, there are many worthwhile causes you can commit to.

Volunteer retirees enjoy dedicating their time to causes they are passionate about. Some of our retirees have chosen to spend their time volunteering with charities or important community establishments such as libraries and parks.

Regardless of what you choose, spending your days helping others can provide you with personal fulfilment while serving the community you live in.

The Family Retiree

For many people and many of our clients, spending time with family is an essential part of retirement.

Retirement can give you the freedom to babysit grandchildren at a moment’s notice, catch up with the most distant of relatives, or even put in time to create a family. This lifestyle gives you time to focus on those who matter most.

As a family retiree, embracing loved ones is your top goal and you want a retirement plan that reflects that.

The Lifelong Learner

Some of our retirees have taken the initiative to expand their knowledge with their newly found free time.

The lifelong learner wants to continue to learn new things, whether it be learning a language, ballroom dancing, or how to better understand the stock market.

Learning is an important part of personal growth and can be a key aspect of your retirement.

The Adventurer

Calling all explorers!

For those who like adventure, this type of retirement might be right for you. A great deal of our clients believe that travelling is a wonderful way to spend retirement and they make an effort to travel as much as possible.

As one of our clients recounted to us, travelling is enjoyable for three reasons: it provides you with an event to look forward to while you are planning, new experiences to take part in during your journey, and a great story to tell when you are back home.

Wherever you decide to go on your adventure, it is sure to be a memorable experience that makes your retirement pleasurable.

Preparing For Your Retirement

While there are many different types of retirees we have come to know, a common theme our clients continue to emphasize is good financial planning.

Making sure you are able to achieve your retirement goals is really what can make for an easy transition into the next phase of life.

Having a capable financial team that understands your goals and takes care of your investments is vital.

They help you achieve your objectives and make sure that you are comfortable while you do what makes you most happy.

So when you finally decide on the type of retiree you want to be, work with your advisor to determine how you can accomplish this and when!

Lori Pinkowski is a senior portfolio manager and Senior Vice President, Private Client Group, at Raymond James Ltd., a member of the Canadian Investor Protection Fund. This is for informational purposes only and does not necessarily reflect the opinions of Raymond James. Lori can answer any questions at 604-915-LORI or You can also listen to her every Wednesday morning on CKNW at 8:40 a.m.


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