Build Retirement Plan 7 Steps
You've learned the pieces—CPP, OAS, RRSPs, TFSAs, withdrawal strategies, estate planning. But knowing the ingredients doesn't make you a chef. Now it's time to assemble them into a single, unified plan. Here are the seven steps that separate a hope from a strategy.
Step 1: Define Your Retirement Vision
Before you touch a spreadsheet, you need to answer the lifestyle question: where will you live, what will you do, and what does a typical week look like? Your retirement vision sets the direction for every financial decision that follows.
Ask yourself concrete questions. Will you downsize your home? Travel two months a year or stay put? Pursue hobbies that cost money—golf, art classes, travel—or low-cost ones like hiking and reading? Will you work part-time for income or purpose? Will you help grandchildren with education, or support aging parents?
Write this down. Make it specific. Not "travel more," but "two months annually in Europe, visiting friends and doing slow travel." Not "stay active," but "five rounds of golf monthly plus an annual ski trip to Banff." This specificity drives your income needs and shapes everything downstream.
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Andrew Carrothers
Strategy Lead & Founder
Andrew is a financial strategist dedicated to helping Canadians optimize every dollar. With over 15 years of experience in personal finance and portfolio optimization, he focuses on tactical wealth building.
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