If you are like me, you have been diligently putting away money for decades, dreaming of the day you can sit back, relax and let that flight take you wherever you want to go — the day when you can finally enjoy life without having that “return to work” date in the back of your mind. But now, with just ten years left until retirement, continuing diligently along this path has become exhausting, especially when you have watched others pull the plug and retire early.

Staying motivated during this final stretch is tough, but it is essential to remain focused and stick to the plan. The last ten years are not the time to let up on your efforts; rather, this is your opportunity to fine-tune your plan, maximise your savings and set yourself up for a comfortable, enjoyable retirement.

So here are some helpful tips to combat the fatigue you may be feeling:

Reassess your retirement goals

The first step is to revisit your initial retirement goals. Has your vision for your retirement changed? Is it now likely that you will need to support family members? Are you planning to travel extensively or pursue new hobbies? Or have your priorities perhaps shifted towards a more modest lifestyle?

It is important to use this period to refine your goals based on your current circumstances and health, as well as market conditions. Create some concrete milestones that you need to reach (eg, saving a certain amount annually, paying off your mortgage, or finalising the net worth number you need for retirement). This will help you stay motivated and focused.

Pay off high-interest debt

Debt can significantly erode your retirement savings and can cause you sleepless nights. Prioritise paying off high-interest debts, such as credit cards, personal loans or car loans. Eliminating debt reduces financial stress and increases your available cashflow during retirement.

If you have debt, start paying it off and make it a goal to get rid of it fast. Either apply the “avalanche method”, paying off the highest-interest debts first, or the “snowball method”, which focuses on paying off smaller balances to secure quick, motivating wins. Either way, becoming debt-free before retirement is essential.

Review and adjust your investment portfolio

As retirement nears, your investment strategy should shift from growth-focused to preservation-focused. Rebalance your portfolio to reduce risk exposure, especially in volatile assets like stocks. Consider increasing your allocation to bonds or other fixed-income investments to protect your capital.

It’s also time to sit down with your financial adviser. If you don’t have one, find one so they can help fine-tune your asset allocation based on your risk tolerance, expected retirement date and projected expenses.

Plan for healthcare and insurance costs

Healthcare expenses are steep and will rise significantly during retirement. Ensure that your health insurance coverage is adequate for your needs, and if you plan to travel or spend significant time abroad, make sure it provides coverage while you are away.

Alternatively, if you plan to spend time abroad and don’t want to come back to Bermuda for treatment, you’ll need to look for an international health insurance plan that can provide that coverage; based upon my research, they do exist.

Build a robust emergency fund

An emergency fund acts as a financial buffer against unexpected expenses like medical emergencies, home repairs or job loss. Aim to save at least six to 12 months’ worth of living expenses in a liquid, easily accessible account.

Having an emergency fund is critical at this point so that should an emergency occur, it will not jeopardise your financial stability.

Consider the timing of your retirement

Deciding when to retire can significantly impact your financial security.

If you are at that point when you begin saying, “I am sure we will be fine if we retire a couple of years earlier than planned”, don’t act on it. If possible fight the urge. Delay retirement by a year or two so you can increase your savings and reduce the number of years you will need to draw from it. Don’t put yourself in a position where you have to go back to work because you retired too soon.

Keep your mouth shut and add value

Let’s face it, you are on the last ten-year stretch of your career, and your attitude at work and towards work is changing. This is not the time to rock the boat and let everyone see the “real you”. This is a critical time, and you need to show your employer how much value you add to their business. Losing your job ten years out from retirement will have a catastrophic impact on your retirement date.

Prepare legally and logistically

Ensure that all your legal documents are up to date. This includes your will, power of attorney, healthcare directives, and beneficiary designations on retirement accounts and insurance policies.

Proper estate planning prevents confusion or disputes and ensures your assets are distributed according to your wishes.

Maintain a healthy lifestyle

Financial readiness is essential, but physical and mental health are equally important. Prioritise regular exercise, eating healthily and stress-management techniques. Good health reduces future healthcare costs and enhances your quality of life in retirement.

It is so important to remember that the last ten years before retirement are crucial for solidifying your financial foundation and making strategic adjustments.

By reassessing goals, maximising savings, managing debt and fine-tuning your investments, you can confidently stride into retirement knowing you are well prepared.

At the end of the day, staying focused does not mean sacrificing enjoyment today. It’s about balancing your present happiness and your future security.

With careful planning, disciplined execution and a positive outlook, you can make these final years your most rewarding yet, paving the way for a retirement filled with possibilities rather than concerns.

• Carla Seely has 25 years of experience in the international financial services, wealth management and insurance industries. During her career, she has obtained several investment licences through the Canadian Securities Institute. She holds the ACSI certification through the Chartered Institute for Securities and Investments (UK), the QAFP designation through FP Canada, and the AINS designation through The Institutes. She also holds a master’s degree in business and management