“Mom, can you cover a few months of rent?” The asks from your kids often start out small. You say “yes” without stopping to run the numbers. Then next time, the ask gets bigger. “Dad, I'm short on the down payment.” Again, you say “yes” without running the numbers. And just like that, a string of small “yeses” has quietly started to reshape your own retirement.

Ask Dave when he plans to retire and he’ll tell you he’s already retired (but he still works non-stop) His framework is a stool with four legs. Pull one out and the whole thing wobbles. Financial: The leg most people think of first. Social: Friends, family, and close connections. Health: Family history and your own personal situation. Mental stimulation: The academic and intellectual side of life.

Most Canadians know they have a TFSA. But many still think of it as a simple savings account. In retirement, a TFSA can be your sidekick to: give you flexibility help you manage taxes provide a source of money when life doesn’t go according to plan The two major benefits that a TFSA offers are tax-free growth and withdrawals that don’t add to your income tax burden.