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The Retirement Component Most Canadians Are Missing
By Martin Cloutier, CFP®, CIM® – June 23, 2026
Many Canadians spend decades saving for retirement. They contribute to RRSPs, build TFSAs, pay down their homes, invest in non-registered accounts, and look forward to CPP, OAS, or pension income.
But saving money for retirement is only one part of the picture.
The bigger question is this: once you retire, how will you turn those savings into reliable income?
That is where many retirement plans fall short.
Retirement Savings Are Not the Same as Retirement Income
Having investments does not automatically mean you have a retirement strategy.
You may know how much is in your RRSP or TFSA. You may have a pension or expect government benefits. You may even have home equity or non-registered investments.
But if those pieces are not coordinated, you may still be missing one of the most important parts of retirement planning: a clear retirement income plan.
A retirement income plan helps answer questions like:
Which account should you draw from first?
How much should you withdraw each year?
How do RRSPs, TFSAs, CPP, OAS, pensions and non-registered investments work together?
How can you reduce unnecessary tax?
How can you support your lifestyle without putting your long-term security at risk?
These questions matter because retirement is not only about what you have accumulated. It is about how you use it.
The Missing Piece Is Coordination
The retirement plan many Canadians are missing is not just an investment plan.
It is an income plan.
It is a tax plan.
It is a withdrawal plan.
It is an estate plan.
It is a plan for how much you can safely spend, how much you can safely give, and how all the moving parts work together.
Because having retirement savings is helpful, but having a retirement strategy is what turns those savings into a more confident retirement.
Before retirement, the focus is often accumulation.
After retirement, the focus should shift to coordination.
Watch the video below to learn more about the retirement plan many Canadians are missing and why a clear income strategy can make such a difference.
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Disclaimer: Any view or opinion expressed in this article are solely those of the Representative and do not necessarily represent those of Harbourfront Wealth Management Inc. The information contained herein was obtained from sources believed to be reliable, however accuracy is not guaranteed. The information transmitted is intended to provide general guidance on matters of interest for the personal use of the viewer, who accepts full responsibility for its use, and is not to be considered a definitive analysis of the law or factual situations of any individual or entity. Any asset classes featured in this presentation are for illustration purposes only and should not be viewed as a solicitation to buy or sell. Past performance does not necessarily predict future performance, and each asset class has its own risks. As such, this content should not be used as a substitute for consultation with a professional tax or legal expert, or professional advisors. Prior to making any decision or taking any action, you should consult with a licensed professional advisor.
Harbourfront Wealth Management Inc is a member of the Canadian Investor Protection Fund and the Canadian Investment Regulatory Organization .
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