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

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

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Why digital and virtual credit cards are safer than the real thing Jul 3rd

One of the biggest fears consumers have is losing a credit card, but a lost card is usually detected quickly and the account frozen. A bigger danger may lie in using your credit card to make payments online—especially if you are unfamiliar with the vendor or using a public Wi-Fi network that can b.... More »
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How international students can build credit in Canada Jul 16th

Moving to Canada as an international student comes with a long financial to-do list, and building credit is one of the most important items on it. Your credit history from home typically doesn’t transfer, which means you may need to start from scratch when applying for a credit card, phone plan, a.... More »
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RBC hiking fees on cash back Mastercard, but sweetening the rewards Aug 22nd

RBC shared on Friday that there are changes coming to two of its cash back Mastercard options in October and December this year. Though a couple of the changes may irk cardholders (one of the cards’ annual fee will go up by $21), the benefits are getting a serious facelift that’ll be .... More »

Bigger Alberta Child and Family Benefit payments going out soon Aug 19th

Families eligible for the Alberta Child and Family Benefit (ACFB) can expect the second-last payment of 2026 to drop on August 27, and it will be a bit bigger than the one before. The ACFB is a provincial program administered by the Canada Revenue Agency (CRA) on behalf of the Government of Alber.... More »

What to know if you ever fall victim to fraud in Canada Sep 9th

Know someone who’s been a victim of fraud? It’s a sensitive subject: There’s financial loss and the addition of guilt and embarrassment can worsen things significantly. As scams and bank fraud become more complex, it’s important to know what to do in case you are victimized. MoneySense.... More »
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…

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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…

Continue Reading On moneysense.ca »

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