Canadians: Build a Retirement Plan for Decades

Canadian retirement planning has grown more complex as lifespans lengthen. By 2030, >1 in 5 citizens will be 65 or older, making multi-decade planning essential.
Older rules like replacing 70% of income, withdrawing 4% yearly, or automatically shifting into bonds may miss today’s needs around lifestyle, health, taxes, and family goals.
The first step is defining retirement choices: timing, housing, spending, travel, and care. Advisors may model to age 95 and test trade-offs like retiring later.
Retirement does not require an abrupt portfolio overhaul. Growth and income still matter, with equities, bonds, annuities, and some alternatives balanced against risk and liquidity.
To reduce bad timing risk, planners may build ~2 years of low-risk withdrawal reserves before retirement, alongside emergency savings, diversification, and stress tests to discourage panic.
Public pensions, workplace plans, and registered accounts create flexible tax and income choices. The strongest retirement