transitioning to retirement

5 Key Mindsets for the Transition to Retirement

Written by Jack Lumsden, MBA, CFP®, Financial Advisor, Assante Financial Management Ltd. 


Our blog has grown tremendously over the last three years, with over 100 posts, each aimed at providing valuable insights into financial planning. In this compilation, I’ve selected the articles that stand out as essential reads on creating the mindsets for retirement transition in case you missed them.

Mindsets for the Transition to Retirement

1. The Four Pillars to a Successful and Happy Retirement

When helping clients and their families make the transition to retirement or work optional years, I have discovered that there are four key pillars to a happy and successful retirement:   

  • Health
  • Relationships
  • Reliable and Consistent Income
  • Retirement Road Map 


2. The Three Stages of Retirement Spending

When retirement planning, you may want to view your spending in three different phases. Michael Stein, who wrote The Prosperous Retirement”, divided retirement into three decades: the GO-GO years, SLOW-GO years, and the NO-GO years.

When discussing retirement income planning, Frank Jasek CPA, CA and I rephrased those terms based on our experience and have named them the ATM Years.

3. Six Unique Risks to Retirement Income Planning

As part of the retirement income planning puzzle, there are several unique risks or challenges that you must account for in your planning for retirement that are different from the risks when simply saving for retirement.

4. Things Retirees Should Know About the 4% Rule

When people are looking to make the transition to retirement, they want to know how much they can spend each year without running out of money. The amount of capital you can safely withdraw from your portfolio each year without running out of money has been called the “Safe Withdrawal Rate.”

5. How do you Create a Retirement Road Map?

Once you have found a financial advisor that specializes in retirement income planning, they should be able to guide you through the process using a series of meetings that will:

  • Identify your values and what is important to you.
  • Determine what your retirement goals and income requirements are.
  • Discuss your other goals that require planning and money to achieve.
  • Benchmark your current reality.
  • Establish a plan to close the gap to meet those goals.
  • Act as a guide to help you stay on track by being able to adjust and adapt your plan and strategies as required.


If you wish to delve deeper into any of these articles, please get in touch with us at 905.332.5503, or, or use the link below to schedule a discussion: CLICK HERE.

For more in-depth insig hts, refer to Preserving Wealth: The Next Generation – The Definitive Guide to Protecting, Investing, and Transferring Wealth by Jack Lumsden, MBA, CFP®.

For your FREE Copy of Preserving Wealth, CLICK HERE

For your Free Retirement Review, CLICK HERE.

Jack Lumsden is a Financial Advisor with Assante Financial Management Ltd. The opinions expressed are those of the author and not necessarily those of Assante Financial Management Ltd. Please contact him at 905.332.5503 or visit to discuss your circumstances before acting on the information above.

Insurance products are services provided through Assante Estate and Insurance Services Inc.

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