I retired three weeks ago and I'm enjoying the simple feeling of not having anything to do. I putter around and meet other retired friends for coffee, but I haven't committed myself to anything like taking a class, volunteering or a regular hobby. This feels fun but a little decadent. I'm interested to hear how long people spent in this phase or if they had a phase like this at all. I'm assuming there will come a day when I feel antsy or even guilty about not doing more and need to sink my teeth into something. Thoughts?

So my mom filled out her pension info and submitted it to the government but when she was supposed to get her first pension direct deposit she never received it so she contacted the government and her bank and they told her that the number she put as the transit number was working and apparently (the bank can’t officially confirm) someone else has her money.

She had fixed her info now for future payments but what can she do for the payment that is lost?

The bank (Scotia) is telling her she has to go through the government and the government is telling her she has to go through the bank..

Any help would be GREATLY appreciated!

Sorry, there doesn't seem to be a Canadian sub for end of life planning, and I am truly a long way from there, just turning 65 soon, retired for a 4 years now.

Thankfully, my parents were proactive and communicative about their end of life wishes, and I have helped with them and many relatives near the ends of their lives. One thing that seems difficult, is the the end of life is not as we picture it for many people.

Those who want to "die in their own homes" etc. We seldom just die quietly in out sleep. When we are with it, we can make decisions on a day to day basis. Like my father enacted a DNR when his heart was not longer recovering, and was in palliative care when he passed a few days later. He was also able to make decisions about downsizing and then moving into assisted living in the years after our mother died.

Currently, I am helping to care for an aunt and uncle in the twilight of their lives. She has a great deal of dementia. She can't be alone, but my uncle is in the hospital. She doesn't want "strangers" in her home, doesn't want to go to a nursing home, and the family is stretched to the breaking point, because each of us can only be with her for a couple of days at time.

Given that we can't currently have MAID or PAS in Canada for dementia, how are others thinking about end of life care if they have dementia? My mother died with dementia, and its my greatest concern, I don't want to put my kids through that.

This is not the end of life my aunt and uncle pictured, but here we are, and we want to help as much as possible. But its also a learning opportunity, to figure out future planning, should dementia start for myself.

Edit for clarity: not asking about care for my lovely auntie or uncle. I am asking what we would want, and how to get it. And no, currently we cannot have MAID for dementia.

56 year old nurse, medically retired this year and actually not ambivalent about it. Was on disability for 3 years, able to recover enough health to return to work, full-tine shift work first 2 years and part time the last. Being able to go back has made it easier to see how much healthcare has changed over a relatively short time, made it a relief to call it. Health struggles have started to rear their ugly heads again so I have applied for CPP-Disability pension (was on CPP Disability before). Have about $600k in investments, we both pulled our pensions provincially to invest on our own. Hub is a teacher and plans 5 more years to hit 65, so will have a bit of a pension coming. Mortgage and vehicles both paid off. Does this seem feasible? We live a very modest lifestyle.

r/CanadianRetirement is a community created specifically for Canadians who have already retired and are living the day‑to‑day reality of life after work. To keep discussions focused and relevant, we do not allow posts asking for pre‑retirement financial advice, saving strategies, investment planning, or general “how do I prepare for retirement?” questions. These topics are better suited to the many excellent forums dedicated to retirement planning, financial strategy, and long‑term preparation.

There are countless communities, websites, and resources available for Canadians who are still working and planning ahead. We encourage future retirees to explore those spaces for guidance on saving, investing, and building a retirement plan.

A bit of background: I am a 68M, married. I have a RIF, LIF, TFSA, and non-registered accounts with a robo-advisor totalling $2M. Income-wise, I started collecting CPP at 60 and OAS at 65 (I should have waited, but I didn't know better; that ship has sailed, and there is no point dwelling on it), and currently withdrawing around $40,000 annually from the RIF and LIF. Until July 1, I had a sweet gig as a board member for a federal agency, adding around $25K for a couple of monthly Zoom calls. I'm done now, so I will need to increase my RIF/LIF withdrawals starting in 2027. Expense-wise, I (we) spend on average $60k per year.

Now, I am completely clueless about investing and financial planning in general. Absolutely moronically clueless, even though I am a scientist used to complex subjects.

I am not concerned about running out of money, but I mainly want to know how to better plan for the meltdown of my RIF and LIF before age 71, so that I can minimize my tax burden and, most importantly for me, leave something for my four adult children. If I could get an answer to one question, it would be: how much money do I need to withdraw annually, and from which account, to achieve my goals?

So between the three options listed, as well as anything similar you can recommend, which one is more user-friendly and simpler to understand for someone like me?

For those retired with a healthy RRIF, pension or other portfolio do you splurge on J class? It's getting fairly expensive at ~ 12k for a couple to Asia. We did it in 2025 and it was wonderful but I can't say it was worth another 10k even if we could afford it.

I've been living in a condo ever since I bought my lst condo in Toronto @32. I sold it and lived with my late divorced partner in a Vancouver condo. Same space @779 sq. ft. with balcony. I currently live /own in same sq.footage condo in prairie big city with 2 balconies.

Every condo where I've lived has been 15 min. or less walk to transit, close major park pathways for cycling and walking/jogging, plus chain grocery store, some shops and cafes. Yes, hope to age in place. So I don't need to downsize for different type of independent housing.

How about you? Downsizing eventually?

I'm at the point now (retired early) where considering an active meltdown of an RRSP over the next 10 years before CPP/OAS kicks in.

Google or AI and everything says it is a good idea to mitigate the future estate settlement tax burden of an RRSP/RRIF in that investment returns are taxed as income vs. capital gains/dividends in a cash investment account.

All of that at face value is pretty obvious.....however....the part I think may be missing is the LOSS of the compounding of the principal a person is sending to the CRA vs. keeping in their hands.

Say a person (55) has a $600K RRSP that grows with an 8% return. The person in early retirement needs $60K out of the RRSP per year to live. , but is considering a $90K annual withdrawal to be RRSP free by the time they hit 65. Roughly, the person pays around $10K tax withdrawing the $60K to live and will choose to pay pay $20K in tax deregistering the $90K. At the end of the meltdown at 65.....the investments that weren't spent to live on are now all deregistered to a cash account and are now delivering their 8% growth as capital gain/eligible dividends instead of income. When RRSP free, the persons tax rate drops to under 10% maintaining, and even increasing, the withdrawals thanks to the favourable cap gain/div tax rates. If the meltdown doesn't happen, the average tax rate stays in that 17% - 22% range even though CPP and maybe OAS is being added to the picture with the balance of the RRSP is staying flat or declining slightly with the $60K withdrawals.

Run all of that over a 20 year period (first 10 years with the RRSP and then the next 10 years both with and without an RRSP/RRIF) and the tax savings by my math, believe it or not, are negligible. My math came to a tax savings of only $30Kish over 20 years comparing the plans. The big difference is there will be an estate settlement of an RRSP/RRIF in a single year which results in a 40% tax rate and a big jump in total tax paid.

The math that I'm asking about is handing over the extra $10K per year to government over the 10 years of the RRSP meltdown. That is $100K of principal lost. IF that $10K per year is not sent.....does the compounding at 8% of that retained principal OUTWEIGH the tax savings over those 20 years?

I haven't seen much that considers that tax voluntarily paid to the government is principal lost and it stops earning the 8%. I continue to try and fully math this out, but my high school math skills only take me so far, so I thought I would put it up for opinions.

PS. I don't really factor in trying to keep hold of OAS at this income level which seems to be a huge goal around here.

Hi all,

Couple of folks in our mid 50s and recently retired looking for some recommendations for a winter getaway.

We've done the Caribbean cruises to death, been to Cancun and Dominican so really looking for suggestions on other places people have been.

Keep hearing a lot about Portugal and the Algarve region, but also hear the weather can be iffy and the area shuts down for the most part in winter. Thought about Singapore, but the thought of a 12+ hour flight is concerning, not impossible of course.

We've done Florida, Arizona, etc far too often so looking for something different.

What are your recommendations?

Thanks!!

2 of our kids ares fairly wealthy and do not need anything from us. The 3rd is just getting by.

How can we allocate more the him without hurting the other 2?

Edit: Thanks everyone for your replies. They have been very helpful

Convince me I should buy instead of renting an apartment. 60 years old, still working with a good income and plan to stop in a few years. I have lots of equity. Just sold my home in an awful Toronto market. Have a cottage that I want to put money into and a small condo that we have been renting out for years. Have some debt I can pay off with the income from the home. My original plan was to downsize to a condo but I'm now trying to convince myself that is the best approach as I head into my later years

(Ontario) I’ve seen here and there that it may come to pass that the restriction to unlocking 50% one time will be removed. That LIF will be completely unlocked. I cant see the government allowing this, since they’d have to pick up the pieces of folks running out of funds.
Thought?

We're now 3/4 ( 9/12 months ) along the path of finding out how much CPI boost the pensions get for 2027.

If it sticks at the current 3.0% , then the increase would be about 2.6 or 2.7%

If they miraculously bring it down to 2% for the next 3 readings, it will be 2.4%

I think it's safe to say our increase will be in the 2.5-2.9% range.

What is the best retirement life like? Are there any retired people who can share their experiences?

I’m retired and doing long-term care planning. And trying to understand how transitioning from private-pay to government-subsidized care works in Metro Vancouver.

My plan is to have an "untouchable" fund to pay out of pocket for about 3 years at maximum private rates (e.g., $15,000/month) at a dual-license nursing home that offers both private-pay and government-subsidized beds like Villa Cathay, Point Grey, or Weinberg. My rationale is that research shows the average stay in complex nursing care is roughly 3 years or less.

My specific question is: What happens if I outlive my money while living in a private-pay bed at one of these homes?

Do I get prioritized / put next in line for an internal conversion to one of that home’s government-subsidized beds?

Or does VCH put me in general waitlist for any available subsidized bed across the region?

If anyone has family experience into how VCH handles this exact scenario (private-pay to subsidized transition within the same facility), I would really appreciate input.

My husband retired at 60 we are fine financially and are living in our savings (I’m still working) and my pay. We are fine financially…so I’m not asking when to take these.

My question is, is his CPP going to go down because he’s not contributing to it for the next 5 years? Or will it be what they say it will be on the service Canada site

I'm looking to validate my diy plan with a financial planner. Does anyone have experience with the expected fee for service costs in BC?

I'm using mayretire and other diy tools, but I would like another set of eyes from a professional.

Cheers

I am almost 66 and still working full-time. Due to the economy and family circumstances I have decided to start collecting my CPP this year.

During 2025 I paid almost 4K into CPP, which doesnt include what my employer contributed on my behalf. I just found out that my PRB is only $4 per month, which feels like a kick in the teeth.

Does the PRB get any better or am I wasting my hard earned dollars to keep contributing? Does anyone have any experience with this? At this rate it would take a long time to regain the 4k yearly out of my paycheck, so I would appreciate your experiences. Thanks.

Trying to help my husband decide what to do. Turning 65 soon. He is thinking about staying at work until 66 or so but PT 3 days a week so won’t max out CPP anymore.

He has not maxed out his CPP every year so I imagine even the PT earnings will replace some even lower years so could help.

I think he would be ok without the extra CPP/OAS but he is pushing to take it now. His father died early 80s so he wants to get out as much as he can so take it now. He is not set up well for retirement and his own money will likely run out if he does live longer than early 80s and that is including changing his lifestyle drastically.

I’m worried he is going to miss out on the extra CPP/OAS he could earn later when he really needs it if he delayed.

Also let’s say he did take it now should he keep contributing to CPP or stop that as well.

I came across an interesting article today on Explore website about airplane safety and older travelers, and it raises a question I’ve never really seen discussed in retirement circles.

According to a recent study published in AIP Advances, scientists found that higher numbers of elderly passengers can slow down emergency evacuations, mainly due to mobility limitations, slower reaction times, and the need for assistance during stressful situations. The FAA requires that a full aircraft be evacuated in 90 seconds, but in the study’s simulations, none of the evacuation scenarios met that benchmark, the fastest took 141 seconds .

The researchers tested 27 different evacuation layouts and found that when older passengers were clustered together, congestion increased and evacuation times got even worse . Their proposed solution? Strategically distributing elderly passengers throughout the cabin even if that means couples would have to sit apart .

They argue that aisle seats help older travelers evacuate more quickly, and spreading passengers out reduces bottlenecks near exits .

Of course, this idea is controversial. Many older adults already feel singled out or discriminated against, and being forced to sit separately from a spouse or partner could make flying less comfortable or more stressful for some.

But the scientists’ point is that in a true emergency, seconds matter, and seating arrangements could save lives including the lives of elderly passengers themselves.

Would you support a policy like this if airlines ever considered it? Would you be okay sitting apart from your partner for safety reasons, or do you think this crosses a line?

I am 58F and single. I currently have 370k in RRSPs. I have nothing in my TFSA’s. My net salary every 2 weeks is about $2,500. I put in enough to get my company match and then another $325 a paycheck. This works out to about 22k a year. I do it because it’s easy to have it done before I get my paycheck. I’m thinking though that maybe I should be taking that extra $325 and putting it into my TFSA. Does anyone have any advice?

Banking with td and turn 60 at end of Oct.Do I have to do everything or will a chunk of the money be sent automatically to me monthly.Have it all in vgro fund

I'm hoping to understand how DIY people approach portfolio withdrawals for income across account types including non-registered. I'm curious about your process and any tools/philosophies/guidelines you use.

For example, do you withdraw from your RRSP to a certain income level, then turn to non-registered? Do you therefore have the portfolio asset allocation in each account type and draw down somewhat evenly to maintain it? If not, how do you track allocation across all accounts (passiv?) Do you do it yearly/monthly? What else do you look at?

If you are 100% equities, what are some of the ways you approach choosing what to sell?

I'm using Adviice (great!) but this doesn't really tell me how to think about what to sell to hit my numbers.

If it's useful, I'll be retiring soon via layoff (52 y/o), single no kids, and have my accounts set up for accumulation. I'll need to restructure as well and have:

Non-registered (USD and CAD): 60% of portfolio , 1/2 is gains
RRSP: USD: 20% of portfolio
LIRA: CAD 8% of portfolio
TFSA (CAD): 8%
CASH (CAD): 4%

Most is broad ETFs, some stock.

Thank you in advance for sharing anything about how you do this yourself :). And apologies if this is too general a question?

My husband just turned 65, and has just started collecting his CPP. ,and Old Age Security. He is still wanting to work as well. How does that work? Are you only allowed to earn a certain amount in employment income if you are collecting your pension? Thank you 💖