We’re 10 years apart. Can we retire together? + MORE Feb 25th

Ask MoneySense
My wife and I plan to retire at the end of 2027. I am 63 and my wife is 53. All our investments are split 50/50 between RRSPs and LIRAs for a total of about $1,450,000. We anticipate needing about $110,000 a year after tax in retirement. We have a line of credit, and we are paying it down by $36,000 a year. It will be paid off in 2027. With the age difference, are we okay to retire as planned or do we need to work a little longer? Also, when people make plans, and plan to sell their home in 20 years, do they really do that?  

—Kenny

Hi Kenny, I’ll answer your last question first, which essentially is, when people create a retirement plan, do they stick to it? My observation is yes and no. Everyone has things they enjoy doing and will likely continue doing. Plus, there are the additional things you will want to try. But over time things change, personally and financially, for all kinds of different reasons. For that person who plans to sell their home and live off the proceeds 20 years from now… who knows? It is an option that made sense when the plan was constructed…

When you think about careers that give you the opportunity to work abroad, skilled trades might not spring to mind—but they should. Demand for tradespeople continues to climb, and these roles remain relatively insulated from AI thanks to the manual skill, real-time problem-solving and in-person expertise they require. The result is a career path that can deliver both stability and mobility.

In this article, we explore new research from HomeStars, the home-service hiring platform, highlighting an awareness gap around trade careers—including the potential they offer for international work and relocation.

Canadians interested in careers with international mobility

Of the Canadian workforce between the ages of 18 and 34, the study found that almost six in 10 adults are interested in careers that would allow them to work abroad with a work visa (primarily to Europe or Australia). The study went on to show that 49% of all Canadian adults were interested in careers that offered opportunities to work abroad…