McKenzie Wealth - Our Library of Resources

Critical 10

Issues to consider 5 years before retirement and 5 years after.

5 Years Before Retirement

Retirement isn't just a momentary shift, but a continuation of the life you've been building. Barry LaValley, a retirement lifestyle specialist, emphasizes that understanding and preparing for retirement involves considering the continuity of your current life into this new phase. The concept of the "Critical 10" supports this view, urging attention to critical issues in the five years before retirement, with ongoing adjustments in the subsequent five years to ensure financial security during this transition.

4 Years Before Retirement

Retirement planning extends beyond investment management. The "Critical 10" framework emphasizes a comprehensive approach, incorporating estate planning, insurance coverage, income structuring, and philanthropic considerations into a robust retirement plan.

3 Years Before Retirement

The role of life insurance evolves significantly as retirement approaches and during post-retirement years. Safeguarding the future value of potential income, especially during early career stages and while supporting a young family, becomes a paramount concern. In the “Critical 10” framework, there are several things to cover and review to ensure financial security for you and your family at three years before retirement.

Back to top

Financial Foundations

Planning and investing early in life.

Risk Reward

Setting yourself up for long-term financial success often begins with initiating a consistent savings regimen early in your career. Understanding the risk/reward trade-off is crucial—a measure of the desired return from an investment that isn't guaranteed.

Travel Reward Credit Cards

Travel reward credit cards make up a substantial part of Canadian banks' credit card earnings, fostering customer loyalty through points that function as a form of virtual currency. However, the perceived value of these rewards merits’ deeper consideration, given the associated costs and potential financial implications.

Starting Early

The Financial Foundations series is tailored for young adults just entering their careers, aiming to shed light on vital financial matters crucial at this life stage. This inaugural article underscores a straightforward yet crucial piece of advice: start your savings and investment journey early.

Back to top

Our Library of Resources

Critical 10

Financial Foundations

The Silver Generation

For Business Owners