Do You Have a Written Retirement Plan? | Money Monday

Related Money Monday Episodes

If you’re thinking about whether you truly have a plan in place, these Money Monday episodes may also be helpful.

Episode 11: The Pros and Cons of Robo-Advisors:
This episode explores the limits of automated investing, reinforcing why a written plan — not just an algorithm — matters when planning for real-life retirement scenarios.
Episode 13: The Cost of Financial Advice – Is It Worth It?:
Showing the value behind a written plan and how advice isn’t just about products or returns, but about clarity, coordination, and avoiding costly mistakes.
Episode 27: Does Your Investment Strategy Match Your Life Stage?:
A written plan should reflect where you are now. This episode connects directly to aligning investments with real life — not outdated assumptions.

Darren Devine, CFP®, CLU®

Financial Planner, Sun Life
President of Devine and Associates Financial Services Inc.

Be honest for a second: do you have a written retirement plan… or just good intentions and a few numbers in your head?

Hello, and welcome to Money Monday, where we help simplify your financial journey.
I'm Darren Devine, Financial Planner with Sun Life and President of Devine & Associates. I’ve been helping families across Ontario retire with confidence and protect what they’ve built for over 20 years.

Here’s something I see all the time:
People tell me, “We’re fine, we’ve got RRSPs, TFSAs, some pension income… we should be okay.”

But when I ask, “Can you show me your written plan?” things get quiet.

Good intentions sound like:

“We’ll try not to overspend.”
“We’ll take money out as we need it.”
“We’ll deal with taxes when they come.”

A written plan looks different. It answers questions like:

Where will every dollar of your income come from, year by year?
Which accounts will you draw from first to help reduce tax over your lifetime—not just this year?
What happens if one of you passes away early, or needs long-term care?
How do you leave money to kids or grandkids in a tax-efficient way?

When it’s all in writing, you’re not relying on memory or “we’ll figure it out.”

You’ve got a roadmap you can review, update, and test with “what if” scenarios—what if markets drop, what if inflation runs higher, what if your health changes?

You don’t have to love spreadsheets or numbers. You just need clarity. And that’s what a real written plan gives you: fewer surprises, more confidence, and a better chance of making your retirement savings last.

If you’re not sure whether what you have is a true plan or just good intentions, that’s exactly the kind of conversation we have with Clients every day.

Thanks for tuning into Money Monday. Don’t forget to like and comment for more episodes filled with tips to help make your financial journey a breeze. Until next time, I'm Darren Devine, and you can always talk to us today at DevineAndAssociates.ca!

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Darren Devine