What if we stopped thinking about retirement as something that lasts 25 or 30 years…
…and started thinking about it as a series of different chapters?

Because the reality is, 60 and 80 are not the same.
And that matters when we're deciding what to do with our homes, our money, our time and our plans for the future.

The 12-Year Window

I recently started thinking about what has been called the 12-Year Retirement Window.
Not because there is a magical statistical cutoff at age 72.

There isn't.

But retirement research consistently points to a pattern often described as the “go-go, slow-go and no-go” years.
The early years of retirement tend to be the most active.
This is when people are more likely to travel, pursue hobbies, visit family, take longer trips, renovate, explore new interests and finally do some of the things they've been putting off while working.

As the years progress, activity and spending tend to decline.
Not necessarily because people stop wanting to do things.
Sometimes, it's because their health, energy, mobility or circumstances change.

Statistics Canada data illustrates the broader reality of aging. In 2023, 49.3% of Canadians aged 50–64 reported their health as very good or excellent. Among Canadians 65 and older, that figure was 40.5%.

Of course, plenty of 75-year-olds are travelling the world, skiing, hiking and living incredibly active lives.
And plenty of 62-year-olds aren't.

Age is not a deadline.

But it is a variable worth planning around.
And that's why I think the first decade or so of retirement deserves more attention.

What if you planned around your healthiest years?

Think about the things you say you want to do someday.
Travel more.
Spend winters somewhere warm.
Take the big trip.
Visit your kids wherever they are.
Spend more time with your grandchildren.
Learn to sail.
Play golf.
Cycle through Europe.
Buy a little place somewhere you love.
Take three months and just live somewhere different.
Spend more time with your partner.
Maybe simply wake up on a Tuesday morning and think:
“What do we feel like doing today?”

These are the things retirement is supposed to give us time for.
But here's the catch.

Having the money isn't enough.

You need the health.
You need the energy.
You need the freedom.
And you need the time.

Your house can either support that freedom or compete with it

This is where I think downsizing enters the conversation in a very different way.
For many people, their home is their largest asset.
And for good reason, they don't want to give it up.
They've spent decades building equity.

But sometimes we spend so much time protecting the house that we forget to ask what the house is supposed to be doing for us.

A large family home can require a tremendous amount of time and money.
There is maintenance.
There are repairs.
There is landscaping.
There are property taxes.
There are utilities.
There are renovations.
There is cleaning.
And there is simply the mental load of having a large property to look after.

Maybe that's exactly what you want.
But what if it isn't?

What if selling that home at 58, 60 or 62 could release significant equity and reduce your ongoing expenses?

What if moving into something smaller and easier to maintain meant you could retire a little earlier?

What if the money you weren't spending on the house could instead fund the things you've been dreaming about?

And what if the time you weren't spending maintaining the house could be spent living?

There is something else we don't talk about enough

Who are you planning to enjoy those years with?

Because if you're part of a couple, retirement isn't just about your individual health.
It's about the two of you.
Maybe your dream is to travel together.
Maybe you've spent 30 years working toward the same goal.
Maybe you've imagined finally having time to sit on a patio somewhere in Italy for three weeks.
Or spending winters in Hawaii.
Or taking off in an RV.
Or simply having more ordinary days together without a work schedule dictating your lives.

And here's the uncomfortable truth:
There is no guarantee that both people will remain healthy at the same time.

We all know this.
We've seen it happen to our parents.
We've watched friends face unexpected diagnoses.
We've seen someone suddenly become a caregiver.
We've seen plans change.

Yet somehow, when we're planning our own retirement, we often behave as though we'll both be perfectly healthy at 78, 82 and 85.

Maybe we will.
But maybe we won't.
And that's not a reason to be fearful.
It's a reason to be intentional.

Don't wait for retirement to start living

One of the biggest mistakes I see people make is thinking:
“We'll do that when we retire.”
We'll travel when we retire.
We'll spend more time together when we retire.
We'll renovate when we retire.
We'll simplify when we retire.
We'll finally enjoy the house when we retire.

But retirement itself isn't a guarantee of good health, unlimited energy or endless time.
The years immediately after leaving work may actually be some of the most valuable years you have.

That's why I think it's worth asking:

What would you do if you knew you had 12 really active years ahead of you?

Where would you go?
Who would you spend them with?
What would you learn?
What would you stop doing?
What would you finally say yes to?

And perhaps most importantly:
What would you need to change today to make those years possible?

Maybe downsizing isn't about giving something up

Maybe it's about getting something back.
Less house.
More time.
Less maintenance.
More travel.
Less stuff.
More freedom.
Less responsibility.
More experiences.

Less money tied up in a home you no longer need.
More money available to create the life you've been working toward.

That doesn't mean everyone should sell their home at 60.
It doesn't mean a condo is automatically a better financial investment.
And it certainly doesn't mean that life suddenly changes at 72.
What it means is that your home should support the life you want to live, not simply the life you've already lived.

So, what is your 12-year plan?

Maybe you're 55 and retirement is still several years away.
Maybe you're 61 and you're already thinking about the next chapter.
Or maybe you're 68 and realizing that there are still things on your list you really want to do.

The question isn't:
“How long can I stay in this house?”

Perhaps the better question is:
“How do I want to spend the healthiest, most active years of my retirement?”

And then work backwards.
What will that cost?
Where do you want to live?
How much freedom do you want?
How much home do you actually need?
And what changes could you make now to give yourself the best chance of enjoying those years?

Because your home is an investment.
Your retirement is an investment too.
And time may be the most valuable investment of all.

Shelley Hird
Downsizing Specialist and North Shore REALTOR®
www.thedownsizingspecialist.com