42 Days

As I begin to look forward to the coming days and months I have found myself reflecting back on how I got here, these final steps to retirement. This path started many years ago initially by starting a savings plan. Eleven years ago I began preparing to contemplate what I would do. It is now, in this moment of reflection, that I see I have progressed through seven steps. 

1. Recognize
Early in my career there was the notion that retirement would come but it was a distant event, largely abstract. But at some point it became more tangible; a recognition that it’s coming and something should be done. It could have been age, it could have been the simple observation that people I knew were retiring and while that happened before it now  seemed more relevant.  Recognizing that the event loomed was the call to action. 

2. Plan
Establishing goals and planning followed. I established goals in two areas: what I’ll do during retirement and the funding to support what I want to do. The dependency between the two is interesting in that they need to balance, the need to scale retirement lifestyle to available financial resources. There are few absolutes. However the sooner one sets objectives the more options time makes available. My Financial planning really started with my first paycheque via an RRSP contribution, even though it was just saving without a specific plan or target. 

3. Prepare
With a plan in place some preparation was required. Certainly there is execution of a financial plan (e.g., saving) as well as taking the steps necessary to prepare for the things one is considering during retirement.  I decided to pickup golf and re-engage still photography after spending many years in video. 

4. Determine when
The timing was initially less about a specific date and more a set of events or conditions, such as when savings reach some amount or when some skill set is achieved (and possibly a complete set of equipment) . In my case my wife’s retirement was also a necessary precondition. She retired in September. 

5. Set the date
When the conditions for retirement were reached then it came time to fix the date. There were several factors that came into play, such as personal or professional commitments or the weather.    Patience was another factor that I considered. Given the pre-conditions were met, why hang on?  

6. Commit 
Commitment is a major step. It is the moment of truth; a commitment that can be surprisingly difficult to make. A point of no return which just makes completing this step that much more difficult to complete. In my case I have chosen to take a leave of absence; a trial period. To confirm it is right for me. Regardless mental commitment solidifies when the intention and the date are communicated to key parties, including: your boss; HR; your staff. 

7. Countdown 
When the event is committed and the date set, then comes the countdown. The period of transition and anticipation. I’ve been counting for a little while. Everyone says it’s a long time to go. I know otherwise.