The Four Phases of Retirement…and the Psychological Challenges

Riley Moynes
Riley Moynes
University of Toronto

Dr. Riley Moynes has enjoyed a distinguished career spanning four decades in both public and private sectors. In public education, he has taught at the University of Toronto, as well as Lakehead University, Ontario, and has authored several textbooks, including a History of Russia, and a World Religions text. In the private sector, he was a Founding Partner of a national wealth management firm, author of the book The Money Coach, and co-author of several editions of Top Funds. His most recent book is the Canadian best-seller The Four Phases of Retirement.


August 23, 2022, 4:00 pm

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If you are like most people, you probably are focusing (or have focused) your retirement planning almost exclusively on finances and estate-planning. After all, what everyone says is true: you do need to get ready financially. But that’s not all. Many people look forward to retirement, only to find that before too long they feel a bit bored, disappointed, and even a little depressed. You may not realize it, but you need to get ready for retirement psychologically, as well.

Based on extensive research and the personal journeys of hundreds of others, this talk explores and explains the four phases of retirement almost everyone experiences. By interviewing hundreds of retirees, Professor Moynes has discovered a framework that can help make more sense of this challenging chapter of our lives…one that, for many, could last for 30 years or more: about one-third of our lives! If you’re retired, this talk will make things much clearer for you. If you’re not, you’ll have a better idea of what to expect when that time comes.


Discussion Questions:

  1. What are the ingredients of a successful retirement?
  2. What do people underestimate about retirement?
  3. Which of the four phases is most challenging?
  4. What are the characteristics of those who reach and live in Phase Four?
  5. For pre-retirees, what advice would you offer them about planning for the transition to retirement?




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