Once you reach retirement, which financial and investment strategies should you follow to help enjoy the lifestyle you’ve envisioned?

You may want to consider these 10 principles to serve as a roadmap on your journey toward retirement.

1. Map out your goals.

2. Plan for a long and fulfilling retirement.

3. Don’t overspend in your early retirement years.

4. Don’t forget about inflation. To stay ahead of inflation, you’ll probably need at least some growth-oriented investments, such as stocks.

5. Prepare for the unexpected. Set aside adequate cash reserves in liquid accounts.

6. Don’t reach for yield. You can find more prudent investment strategies for adding income during your retirement years.

7. Protect – and insure – your health. Stay in good shape — and maintain adequate health insurance.

8. Withdraw from both your registered and non-registered accounts in a tax-efficient manner.

9. Keep your estate plan up to date.

10. Remember your annual financial checkup.

Consult with your financial advisor at least once a year and your tax

and /or legal professional for issues concerning tax implications.

Put these principles to work – it will be worth the effort.  

Graeme Armstrong, your Edward Jones advisor. Edward Jones, Member Canadian Investor Protection Fund.