We assemble a snapshot of Canadians in retirement: their pre-tax and post-tax income distribution, how spending changes as they transition into retirement, spending during retirement and their sources of income. “How much is enough?”, is a key question for retirees. The question can be answered by comparing lifestyle expenses pre and post retirement – a common objective is to at least maintain your pre-retirement standard of living. This involves some uncertainty as taxes, savings and some expenses such as mortgages change during the transition to retirement. Having information about how other Canadians are faring is helpful to provide reassurance that you are neither saving too much nor too little in comparison with your friends and neighbours.

 


This report was written by Graham Westmacott, PWL Capital Inc. The ideas, opinions, and recommendations contained in this document are those of the author and do not necessarily represent the views of PWL Capital Inc.

Contributors