“The Golden Years,” may be a subject that many have a difficult time snuggling their arms around. Where is the manual to tell us how and when is the best time to retire? The answer is, “There isn’t one.”

Better health and longevity will surely allow us to live longer and healthier lives. And this may lead us, yes, the Baby Boom generation, to work longer than ever before. Some will choose to work out of necessity, while others will continue to work for the pure pleasure and enjoyment of accomplishment or social needs. Others may work, not for money, but in the spirit of being a volunteer.

The psychological move from work into retirement is often more stressful than the financial concerns. The concept of retiring may create some apprehension about what you will do with all your free time.

Let’s try an experiment. Find your favourite place to think. Don’t do anything, just relax and think. Sit back and ask yourself these questions. What do I want from my retirement? What will I do during my retirement years? Will I keep my present home or sell it for a smaller, more practical home? Do I want to travel? Will I work?

These are just a few of the questions you need to consider when planning for your retirement. There are probably many others, but it’s a start. Once you have an idea of what you want, it’s time to share your ideas with a professional. Then you can build a sound financial plan so you can see your dreams realized.

One of our greatest challenges is to temper our psychological mood. We feel fear when the stock market goes down, and euphoria when the stock market goes up. The next time you feel these emotions, ask yourself if you are a long-term investor. We are confident that most of you will answer, "Yes".

This is a monthly article on financial planning. Call or write to Rick Sutherland CLU, CFP, FDS, R.F.P., of Fundex Investments with your topics of interest at 798-2421 or E-mail at rick@invested-interest.ca.