"Please make sure your head is on straight" — An Ontario professor’s retirement plan was derailed after her mothers sudden death. Here’s how she got it back on track

Taking her retirement back, financially and emotionally

Even though her mother’s death drastically shifted her retirement plans, Johnson was vigilant in making sure she would stay occupied and use her time well.

She is actively involved in Alcoholics Anonymous and currently works as Editor of its central office newsletter in Edmonton. She takes advantage of Edmonton’s rolling hills, rushing rivers, deep ravines and beautiful scenery by hiking outside often. She also makes use of a local gym in the city. “I am in way better physical shape than when I was working,” she explained.

On top of managing her physical health, Johnson has also taken steps throughout her life to prepare her for retirement. By working in the public education sector, she has a healthy university pension saved away — she also started receiving her Canada Pension Plan (CPP) benefits immediately upon retiring.

Johnson also has self-managed assets, including investments and real estate properties. And, she’s forthright in saying they haven’t done as well as they could have. That said, they’re improving. “I have modest investments in my self-directed investment account and, after making some initial poor stock choices, my investments are increasing slowly,” she says.

In addition to managing her investments, Johnson is prudent about her expenses. She notes that since moving in with her sister in 2023, she has been able to, “live more modestly than I used to.” She’s also made the decision to not travel as much in retirement, helping her save more or use her money in more local ways.

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Advice for retirees or those nearing retirement

Johnson’s story of recovering from a retirement setback may sound like an unattainable ideal, especially when many Canadians are worried about their retirement savings. A survey from CPP Investments found that 61% of Canadians fear running out retirement savings. How can Canadians plan correctly to be able to weather unpredictable events in retirement?

Looking at Johnson’s choices more closely, we can see other patterns emerging that have contributed to her retirement success. For example, Johnson indicated that she has self-managed investments, a pension fund and property investments in addition to her CPP benefits. By diversifying her investments and sources of income, Johnson was able to not let a setback in one area cripple her investments totally.

However, though retirement is a financially-driven decision, other factors need to be taken into account as well. Retirement can be an isolating time, and making a lifestyle change can feel overwhelming. Indeed, research from Statistics Canada found that 19% of seniors (those aged 65 and up) reported feelings of loneliness. Making connections in your local community can help you feel more relationally grounded and give you like-minded people to share life with.

Case in point: Johnson made time to volunteer with multiple organizations such as the Wikimedia Foundation.

As someone who successfully navigated a tragedy during retirement, Johnson shares some salient wisdom that all retirees should heed.

“My advice to others considering retirement is to avoid making the decision because of pressure from family, unexpected events such as the pandemic or emotional issues related to relationships. Please make sure your head is on straight when making such a significant life decision.”

Johnson’s story reminds us that while financial preparation is crucial for success in retirement, emotional resilience and clarity of purpose are just as essential.

Sources

1. The Globe and Mail: This former professor’s retirement plan was upended by her mother’s unexpected death, by Julia Johnson (May 1, 2025)

2. CPP Investments: Nearly 2 in 3 Canadians worry about retirement savings: survey (Oct 30, 2024)

3. Statistics Canada: A look at loneliness among seniors (Nov 6, 2023)