Bridging Retirement Income Gaps
What happens if you retire early? Retiring before age 60 or 65 may create an income gap, especially with Canada Pension Plan (CPP) and Old Age Security (OAS) benefits starting later.
Make Your Retirement Savings Go the Distance
Are you prepared to make your retirement savings last? With longer life expectancies, it’s vital to rethink your investment management. The traditional approach of shifting everything to fixed-income options may not be effective.
How Much Will I Need to Retire?
Good question. Many retirement income planning tools use a percentage of income to determine an income need in retirement and then calculate an amount needed to provide that income. People with similar incomes often have different spending and lifestyle habits. This can affect their income needs in retirement. It is still important to calculate what […]
Too Much Life at the End of the Money
You have probably heard the phrase; too much month left at the end of the money. Paying for housing, groceries, fuel, utilities and various child rearing expenses, although very necessary, can put a huge strain on a family when outlays sometimes exceed your income. Fortunately, this is usually only a temporary hiccup in most people’s […]
Don’t Bank on an Inheritance
Many Baby Boomers have pinned their hopes on an inheritance to solve their financial challenges. Media reports often highlight the anticipated $1 trillion expected to transfer between generations over the next 10-15 years. A recent HSBC report from March 2024 reveals that 39% of working and recently retired individuals are counting on some form of […]
Debt-Free Retiring: From Mortgage Stress to Freedom
Feeling weighed down by debt while trying to save for retirement? You’re not alone. Many Canadians are juggling mortgages, lines of credit, and family expenses while still hoping to retire comfortably. The numbers tell the story. According to Statistics Canada, the household credit market debt-to-disposable income ratio reached 173.9% in Q1 2025—the second-highest level on […]
Avoiding Common Financial Mistakes in Retirement
Retirement is a milestone many eagerly anticipate – a time to relax and enjoy the fruits of years of labor. However, for some, this dream can turn into a financial nightmare due to poor money management. While every retiree’s situation is unique, several common mistakes can derail even the most carefully laid plans. Avoiding these […]
Tax Efficient RRSP Withdrawal Strategies
Many Canadians diligently contribute to their Registered Retirement Savings Plans (RRSPs) throughout their working years, aiming for a comfortable retirement. However, when it comes to withdrawing these funds, the strategy isn’t always straightforward. For some, tapping into their RRSPs earlier than traditional retirement age can offer significant tax benefits and financial flexibility. Why Consider Early […]
Are You Missing the Mark on Retirement Planning?
Here’s the thing—many Canadians are great at setting money aside in their workplace retirement plans. But when it comes to actually figuring out how much they’ll need in retirement and whether they’re on track to get there? That’s where things fall apart. A survey from Ipsos Reid1 found that only about half of Canadians follow […]
Late-Career Retirement Planning Possibilities
Remember when the government rolled back the age for Old Age Security (OAS) eligibility to 65? A lot of Canadians let out a collective sigh of relief. Even a few hundred bucks a month can make a big difference in retirement, especially if you’re trying to stretch your dollars. But as helpful as that was, […]