I am thinking of retirement: what should I do?

Congratulations! The fact you are thinking about or asking questions about retirement is a significant step that many people are never able to get to let alone put a plan in place to enjoy.

One of the biggest questions that people have is: Will I run out of money? and how can I stress test this. Over the past few years, I have done a lot of reading and learning about what needs to be true for retirement so I thought I would share some of the resources and or learning I have gained over this time.

  • To retire, you need to understand how much you plan to spend each year. This will help you understand how much of a nest egg you need to have saved up to fund your lifestyle. As you go through many of the categories, for a 6-12 month period, you will also be able to identify areas of spend that will not be as high in retirement for example, clothing, commuting costs, lunches etc. There may also be some areas that increase vs. your working days for example travel, entertainment etc. To track Expenses, I use Mint where I link up all of my accounts and credit cards that with a little help learns categories over time. This will help you trend your spending and understand variance year over year in a very easy way.
  • Fees: if returns are 6% per year and your advisor or the funds you invest in are 2%, then you are giving away 1/3 of your earnings. ETFs can be put together by a computer and cost significantly less while still providing exposure to the equity markets. If you are investing this way, it is not likely that you need a highly paid money manager.
  • Wealthica (Canada) or Personal Capital (US) are great tools you can use to evaluate your net worth over time and understand the fee structure associated with your investments.


  1. Mint.com – track and categorise your spending
  2. Wealthica – net worth tracking
  3. Personal capital – net worth tracking.
  4. Mister Money Mustashe
  5. Choose FI / start
  6. Choose FI for kids
  7. Big Ern and the Safe Withdrawl rate series.
  8. Quit Like a Millionaire
  9. Your Money or your Life
  10. Playing with Fire
  11. The mad Fientist
  12. https://firecalc.com/
  13. https://earlyretirementnow.com/2017/01/25/the-ultimate-guide-to-safe-withdrawal-rates-part-7-toolbox
  14. https://jlcollinsnh.com/calculators/
  15. https://www.financialsamurai.com/
  16. https://www.gocurrycracker.com/
  17. https://www.donebyforty.com/
  18. https://princeoftravel.com/
  19. https://earlyretirementnow.com/
  20. https://www.newretirement.com/planner/plus-signup?nr_a=ern
  21. https://engaging-data.com/early-retirement-calculators-and-tools/
  22. https://www.whitecoatinvestor.com/
  23. https://whitecoatinvestor.teachable.com/p/fire-your-financial-advisor
  24. https://www.caniretireyet.com/the-best-retirement-calculators/