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Learning is like rowing upstream, not to advance is to drop back.” — Old Chinese Proverb.

Last week I attended my firm’s 13th Annual Women’s Symposium and I’d like to share a few of the highlights with you.

I’m a proponent of this sort of “reverse discrimination” when it offers education and networking activities with other women. The senior management of our firm remains predominately male. We’re fortunate and they do get “it”; appreciation of the relationship factor when managing your finances, so they were also in attendance.

Understanding the new reality, which requires holistic planning for our financial futures, isn’t just for women. Recognizing the importance of your role in obtaining financial security and the complexity of financial discussions is not gender specific.

The opportunity to create strategic alliances, discuss best practices and share new approaches is priceless. You may already have a group of confidants you do this with, men and women. As a group of female financial advisors invited to attend this professional event, we were treated to industry leader perspectives and networking opportunities which ultimately benefit our clients.

Years ago on Friday evenings I was a faithful viewer of Louis Rukeyser’s Wall Street Week. There was a weekly feature called the “Elves Index” whereby technical analysts attempted to predict the direction of the market using technical indicators. At times, this could be a controversial and even contrarian segment that had many loyal followers.

My personal favorite former “Elf” was Gail Dudek, CMT, and managing director of Midwood Securities. She is a frequent guest on CNBC, PBS’ Nightly Business Report, Bloomberg TV and a popular speaker at many business forums. She was with as last week and as a chartered market technician, one of her themes is “knowledge is power.” Having the opportunity to spend several hours with her was inspiring and educational. This isn’t the place to delve into specific market comments but rather discuss general principles, philosophies and process’ used by these successful investors.

As you would imagine we discussed retirement, baby boomers and the sandwich generation (those of us concerned with the financial well being of our parents, children and selves). There can be as many stages of retirement as anyone cares to devise, but no matter how you divide the idea into segments, it’s one of life’s major transitions. To accomplish it successfully requires thoughtful preparation.

A few years ago, the AARP found it convenient to define three stages: pre-retirement (ages 50-61), early retirement (62-74) and older retirement (75 and beyond). We’ll use that notion to explore the financial and emotional fundamentals of retirement.

Another keynote speaker discussed how the amounts we spend remain roughly the same throughout the three stages; it’s the recipient or vender receiving those funds that changes. In the early stages, we’ll travel and enjoy activities we may not have had the time for before retirement. The next phase may require increased expenditures for medical issues and prescription costs allowing us to live longer. Finally, we may be paying for in home care or transitioning into a retirement community that provides care.

People in their 30s or 40s mention retirement, but the concept tends to mean more to those of us closer to either side of the half-century mark. Early in this stage is the time to dream. People tend to express great optimism as visions of carefree retirement travel, invigorating visits with family and other pursuits fill their thoughts. Even if you are still challenged by putting children through college or other daily work-related or family chores, it’s pleasant to imagine a retirement free of those concerns, a time when you’ll be able to look back with a sense of satisfaction on a career of accomplishments. After you retire, life can be lived on your own terms.

While you’re conjuring up your ideal retirement, take a moment to make sure your financial decisions will support it. Taking a long-range view, ask yourself if your 401(k) contributions are as high as they could be. Is your portfolio’s asset allocation in line with your risk tolerance and retirement projections? Are you prepared to make the changes necessary as you move closer to your retirement years? It’s never too early to take action to correct the habits or financial decisions that could subvert your retirement dreams.

Five or six years before you expect to retire, expect a different mindset to sweep over your retirement imaginings. You may now see yourself in a tunnel headed toward that magical day. People surveyed find they are still optimistic, still enthusiastic, but also beginning to absorb the reality of imminent change. Excitement may be tinged with worry over how it will all work out. If you haven’t taken retirement seriously in the past, now is the time to focus intently on what you’ll need when the time comes.

Soon enough, you won’t have to imagine your first day of retirement. You’ll be in the second stage, early retirement. Just remember: if you have questions about your retirement planning or wonder where you stand, give me a call.

Discipline, philosophy and process will help dictate your success.

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Darcie Guerin is a financial adviser and branch manager at Raymond James & Associates Inc. at 606 Bald Eagle Drive, suite 401, Marco Island. Contact her at Darcie.Guerin@raymondjames.com, 389-1041 or toll-free (866) 343-0882.