Tuesday, September 17, 2019
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Retirement or Rewirement?
Dianna Bowes

Retirement or Rewirement?

Retirement can last a quarter or even a third of our lives. The days when you would take the company pension and gold watch and sail off into the sunset are long gone for most of us. Today, retirement takes on many forms.  It is often a process as people transition from one stage to another.  Rather than fully retiring, they are rewiring their lives.

Retirement plans tend to focus on having enough money, which is crucial, but there is so much more.  Are you counting down the days to when you can leave your job?  Do you love what you do and can’t imagine not doing it?  Do you yearn to try something entirely new, or turn your hobby into a money-making venture? Think about what you would like to do in the latter part of your life.  Your vision might be to retire from your job at 60 and do nothing more strenuous than play golf or  go on cruises. Are you looking forward to spending more time with your partner or does that thought terrify you? Are you anxious to try your hand at something new?  Older women entrepreneurs are a fast-growing segment and with good reason. Experienced, resourceful, smart and energetic, they have the skills needed to flourish in a new business.

Once you envision your future, you need to take steps to make it happen. If you have a defined benefit, indexed for inflation pension plan, a mortgage free home and healthy savings, then it might be possible to retire at 60 and do what you like.  If you are thinking of transitioning, then the time to prepare is before you retire.  Are there courses you should take to upgrade your skills?  Should you work towards a professional designation?  Does your resume need to be updated? Should you register a business name or join a networking group?  Preparing now can ease your transition into your new life.

Of course, the financial aspect of your new stage of life is essential. A financial plan will help you see where you are going and what you need to get there.  You might only need an extra $20,000 a year for the next 10 years to afford a comfortable retirement. Think of ways to earn that income. As women live longer, a genuine fear of many is having enough to live on when they are at their most vulnerable. Will your money last as long as you do?

Rewiring the best part of our lives takes focus and courage. Fortunately, we have it!

Francine’s mission in life is to help women secure a comfortable future. As a financial and insurance advisor for over 20 years, she currently works with Carte Financial Services, Inc.
Just before her 40th birthday, Francine became a single mother of 3 young children. This experience taught her the importance of preparing for life’s unexpected events and making sure your financial house is in order.
Francine is a ceaseless volunteer and was awarded the Canada 125 medal and the Queen Elizabeth II Diamond Jubilee medal for her community service. Feel free to contact her for a complimentary consultation at Francine.dick@cartewm.com or 647-897-6471. Her website is www.askfrancine.ca


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Dianna Bowes

Dianna BowesDianna Bowes

Dianna Bowes is the creative director of Fabulous@50 and editor of Be Fabulous! Dianna is also the author of The Fabulous@50 Re-Experience - Refresh your mind, body and spirit.

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Full biography

Dianna Bowes is the creative director of Fabulous@50 and editor of Be Fabulous! Dianna is also the author of The Fabulous@50 Re-Experience - Refresh your mind, body and spirit. Dianna Bowes is the creative director of Fabulous@50 and editor of Be Fabulous! Dianna is also the author of The Fabulous@50 Re-Experience - Refresh your mind, body and spirit.

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