We are living longer, and we are staying healthier longer, and we are wealthier than ever. We are the first generation to be presented with the opportunity for a long and adventurous retirement. No previous generation has had two or three decades of active retirement, so no one before now has laid out a roadmap. It’s up to our generation to find the way. We are pioneers, exploring new territory…a life never before lived.

One way to think about this journey is to view it in four stages:

  1. The Preparation Years Securing wealth during one’s working years is more important than ever because enjoying a long retirement filled with freedom, adventure and fulfillment takes money. Commit to owning an investment portfolio that will provide you with an income to live your best life.
  2. The Decision At some point each of us will face the decision to retire. Fear and uncertainty will cause some to postpone it, and this may rob them of those beautiful early retirement years. Draw up a retirement plan, listing your government pensions, employment pensions, and investment income. Being certain you have the financial means to retire will give you the courage to take the leap.
  3. The Honeymoon Yippee! I’m Free! I don’t have to go to work! I can do anything I like! This exhilarating honeymoon only lasts months, maybe three, maybe twelve. Start thinking early about the three P’s: pleasure, purpose, and people.
  4. The Work Begins It’s a tall challenge, discovering what gives you pleasure, and what gives you purpose; two tough questions: what do you enjoy? and what has meaning? And open up to new people; probably your new life will include the joys and challenges of new relationships with new people.

Travelling alone can be difficult. An African proverb says, “If you want to go fast go alone, if you want to go far go together.” At Bluestone Financial, our goal, our calling, is to support a community of clients as we together travel through all four stages. We are pioneers of wealth and health.

This Newsletter was inspired by Rob Carrick’s article in “The Globe and Mail”, January 8, 2025, entitled “Retirees Today: Pioneers of Wealth and Health”. Here’s a link: https://www.theglobeandmail.com/investing/personal-finance/retirement/article-todays-retirees-are-pioneers-no-one-before-had-as-much-wealth-health/