Columnist image
Pattie Lovett-Reid

Chief Financial Commentator, CTV


There’s no cookie-cutter approach to retirement – it’s personal.

There’s little doubt financial questions may keep you up at night. Many have expressed concern to me about the fear outliving their retirement, how much money they will really need to retire and, of course, when exactly they should retire. The questions may seem so simple, but there is nothing simplistic about the process.

But before you become sleepless, consider some expert advice. One of the resources I’ve turned to recently is David Aston’s The Sleep-Easy Retirement Guide.

In the book, Aston discusses the changing landscape around retirement in Canada. In fact, the word retirement doesn’t necessarily mean the end of working anymore. It may simply mean a shift in focus or even part-time work. 

However, there are basics that will matter to you such as how much money you will really need, key drivers including spending in retirement, government pensions, the timing of your retirement and the withdrawal rate.

What you will find is that there isn’t one right savings path – and that can be a relief to many who simply haven’t had the resources to save or to those who have put off retirement planning altogether. 

Retirement isn’t just about the money. It has to also include living an active, social and fulfilling retirement life. However, we need to be realistic; finances play an essential role in retirement. 

As you approach your golden years, you should try to determine what you want the rest of your life to look like at a cost that is sustainable. The good news is there are many options to get creative, be flexible, and set priorities that are the best version of your retirement dreams.

According to Aston: “All the uncertainties about retirement can be a cause of concern.  But with a little bit of sensible preparation, middle class Canadians should be confident of finding a fulfilling retirement within their reach.”

February is Your Money Month at BNN Bloomberg. For more content like this, visit