I’m only 91, and fortunately, not yet at the cane or walker stage. I think that if you retire at 65, you could still have about a third of your life ahead of you. So, if you don’t spend a proportionate amount of time planning for that retirement, you’re making a big mistake. It can become the highlight of your life, and even extend your life, which is an excellent time management strategy.
The best time to start planning for your retirement is when you get your first job, or maybe even before that, assuming you already have an idea of how you want to spend the rest of your life. But most people have already missed the best time, so the next best time is now.
Planning is critical at every stage of your life, as most time management experts will agree, and the late Stephen Covey, author of “The 7 Habits of Highly Effective People,” was no exception. He claimed we should always start with the end in mind.
I recommend that you reread his book at least every five years. In my opinion, it will never become obsolete. Being proactive, his first habit, should become a way of life. I feel so strongly about its importance that I have written three e-books on this essential trait: The Proactive Manager, How to Keep on Top of Your Job, and How to Become a Proactive Person. All were published by Bookboon.com and are described on my website, taylorintime.com.
At the POC online conference on October 23rd, I will discuss the importance of being proactive when planning for retirement and selling your business, among other topics, in my presentation on “Making Retirement Work for You.” For more information, visit the POC website at https://organizersincanada.com/poc-2025-annual-conference/
By the way all the presenters have special discount codes that let everyone register at a discount. Mine is TAYLOR10. So enter it when you register. You don’t even have to attend my session.
I have used three forms of ownership during my lifetime so far: a sole proprietorship, a partnership, and three limited companies. I also sold my time management company for two years, and later, I bought back most of the assets when I was able to continue. My first company, Taylor Enterprises, an association management company, was incorporated so that I could take advantage of the tax-free capital gains provision in Canada when it came time to sell the company and focus on my dream job. It is a good way of transferring your company to your employees or others. I also had a Holding Company. But let your CPA advise you on what you need and when. I firmly believed we should do what we love to do best and delegate or outsource the rest.
As it is, I still have a website with a shopping basket, a newsletter that is sent to about 2000 subscribers, and I am enjoying my very active semi-retirement. More on that later. It’s essential to have passive income to supplement what the government allows you to keep, and who wants to have a sudden drop in income simply because they decide to retire?
I discovered that I love to write. Even though I initially did it only to promote my speaking. And it can generate a steady flow of royalties to finance my habit of driving golf balls into the wind, woods, and water. But there are other ways as well.
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