Face the facts: retirement age is going up

Denmark just tied retirement age to life expectancy. Canada might do the same. If you're in your 40s or 50s and think 65 is guaranteed, stop dreaming. Policy-makers are watching the Danish model closely. If life expectancy increases, so will your working years—unless you take control now.

Own your timeline before government owns it for you

If you want the option to retire on your terms, you need a plan that doesn’t depend on government promises. Build a financial cushion aggressive enough to let you choose when to stop working. That means more than RRSPs and TFSAs. It means cutting dead weight, boosting income, delaying gratification, and investing wisely. Prioritize financial independence, not just “retirement.”

Start stress-testing your future

Don’t wait for Ottawa to change the rules. Assume they already have. Run your numbers based on retiring at 70. Then again at 65. Then again at 60. The goal isn’t to panic—it’s to prepare. Know what it takes to walk away early, or at least comfortably. Guessing isn't planning. You need clarity, not hope.

Prepare your mind as well as your money

Watching retirement drift further out of reach is mentally brutal. The cure? Reframe retirement. Stop thinking of it as a finish line. Build a life that doesn’t leave you desperate to escape. Shift careers if you're burnt out. Pick up side income doing something meaningful. Invest in your health like it’s part of your portfolio—because it is. A healthy 68-year-old with purpose has more freedom than a miserable 63-year-old counting days.

Stop waiting—act like it’s already happening

You don’t control public policy. You do control your daily choices. Build flexibility. Build savings. Build options. Governments may push the retirement age higher—but if you’ve already prepared, they won’t push you around.

Is retirement everything you thought it would be?

 Two surveys explain the challenges people face when approaching retirement, even with enough savings. In the first survey conducted in March, 54% of pre-retirees expected a peaceful transition into retirement.. However, upon reflection, only 32% of actual retirees reported that the transition had indeed been smooth.

Besides money, pre-retirees worry about social interactions, a sense of identity, and mental stimulation in retirement. Interestingly, the perspectives of actual retirees differed significantly. A significant 62% of retirees admitted missing social interactions, 31% felt a loss of identity, and 38% missed the mental stimulation they had in their working years.

Respondents in the planning phase of retirement were primarily preoccupied with financial considerations, particularly whether their savings would last. Retired individuals, especially those retired for over two years, focused more on health rather than finances.. They were less worried about the political and economic climate.

The early years of retirement are akin to a trial period, and people adjust to this new phase of life. The most content individuals in our survey were those who had been retired for more than two years. This suggests that retirement is indeed wonderful, but it requires some adjustment.

Those approaching retirement often harbour the misconception that everything will naturally fall into place, while those already experiencing retirement have a different perspective.

The second survey completed in April revealed that 42% of pre-retirees expected an increase in their social connections once they left the workforce. However, 84% of retirees reported a decline in their social networks, with 40% experiencing a reduction of 50% or more.

Over 50% of pre-retirees expected the transition period to be six months or fewer, but more than 55% of retirees experienced it for a year or longer.

The second study emphasizes the difficulties of lacking an identity, disrupted routines, and limited social connections.. In fact, a significant 76% of respondents described their retirement experience as challenging.

Convincing pre-retirees and recent retirees of the value of retirement coaching is a challenging task. Many people assume that retirement will be fantastic and that coaching is unnecessary. It’s important to have a plan for retirement to make it fulfilling.