Canada's main stock index reached a record high on August 13, after five consecutive days of gains. For those approaching retirement, moments like these are a good reminder to pause and ask: does your current portfolio risk still fit your goals and comfort level? The limits for tax-deferred accounts in 2026 will be $33.8K, while tax-free account limits are set at $7K—so deciding how much to contribute, and when to withdraw, is just as important as what you invest in. Income planning is crucial, especially since the federal senior benefit recovery threshold now starts near $93K. Large taxable withdrawals could reduce those benefits, making careful planning even more important. While Canada’s recent addition of 75.1K jobs and a drop in unemployment to around 6% offer a stronger backdrop, the discipline to withdraw thoughtfully still matters. Many investors are keeping a close eye on diversified mixes of dividend stocks, broad-market funds, bonds, and cash—ready to adjust as new inflation data and market changes come. I’ve always believed that wealth is a tool, not an end—having a thoughtful plan, especially as you approach retirement, can help ensure money works for you, not the other way around.
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