Stay Flexible as You Enter Retirement
Pull out your business card. What does it say? Is your job your primary source of income and the way you have built your nest egg?
Next, imagine what your business card will say on the day you retire. Now think out 18 or 24 months after you retire and imagine what your business card might say then.
Many near-retirees anticipate a lot of excitement in their retirement, but after the first year or two, they often adopt a more settled lifestyle and begin to see themselves, their priorities and their money differently than they did prior to leaving full-time work. Because of this, it's important to maintain flexibility as you transition into retirement and adjust to a new lifestyle.
Start now, before you leave full-time employment to do some of the things you have been putting off. If you're not sure where to begin, talk to an RBC advisor first.
And don't lock yourself into any lifestyle or financial decision that you are uncomfortable with or that cannot be reversed. You might learn a lot in your first few retirement months and want to adjust your plans—and your investment options—to match your new priorities. You've built a lifestyle you enjoy over a lifetime of working, so you don't want to take a step back in retirement.
Achieve Your Retirement Goals
An RBC advisor can help you identify which decisions to make prior to your retirement and help you establish a plan that lets you make other retirement-related decisions when you are ready.
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