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The $1 Million Retirement Question Investors Are Asking Now
The $1 million retirement target is no longer universally sufficient in Canada, as needs vary by spending, housing, taxes, pensions, and longevity. Inflation, sequence risk, and healthcare costs can increase required savings. Sustainable after-tax income, diversified income sources (CPP, OAS, TFSA, RRSP), and balanced portfolios with growth and liquidity are crucial. Retirement planning must focus on income sustainability, flexibility, and adapting to changing circumstances.