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Welcome to Retire with Equity: Where a New Retirement Journey Begins

After decades in banking it's time to decode retirement for Canadians

Oct 18, 2024

5 min

Sue Pimento
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Summary: A recent study reveals that 40% of Canadians over 50 feel financially unprepared for retirement. Retire with Equity aims to address this issue by educating retirees on the importance of leveraging home equity. The initiative emphasizes transparency, financial literacy, and personalized guidance to help seniors make informed decisions and achieve financial security in retirement.


According to a recent National Institute of Aging study, almost 40% of Canadians over ​50 feel they are not financially ​prepared for retirement.  As a seasoned citizen myself, I know we can do better.  That's why we've created Retire with Equity.  It's time to help Canadians get the knowledge they need to make more informed financial decisions.


My observations from my time in the industry, enriched by the research I've done over the past few years, clearly reveal a growing retirement crisis in Canada.


I've worked in the banking and mortgage industry for over 25 years, specializing in equity lending, and spent the last 6 years as an executive at Canada’s largest Reverse Mortgage bank. 

Many people are struggling with mounting debt and no company pension.  And they are living longer. Additionally, the long-term care situation in Canada has many seniors looking to age in place in their homes. Strategies like downsizing and moving in with family are often too simplistic and have little appeal to today's seniors.  Some eventually, often begrudgingly, turn to home equity options such as reverse mortgages as a solution. However, Canadians are conservative by nature, and many think it is taboo to touch their equity (nest egg). Consequently, a reverse mortgage is a last resort.


76% of people over 65 are homeowners, many of which have built up a substantial amount of equity yet cannot afford to retire. (Source: Statistics Canada)


Income is the only way to solve the retirement crisis. Many are choosing to work longer to delay spending savings. Some need to pay off debt to eliminate payments that will free up cash flow. Others do not have enough savings to retire. I saw the stress this caused watching my Mother “do without” in her retirement.  With the benefit of experience, I now know there was a better way for her to finance her golden years.


The Retirement Problem in Canada is Dire


Many 55+ Seniors Don’t Have the Funds They Need: Many need an adequate budget and financial plan. And many don’t fully realize that employer and government pensions will fall short of their cashflow needs.


Home Equity Unlocks Opportunities, But It's Misunderstood: Many retirees don’t fully understand the short—and long-term impacts of their home equity financing decisions. They rely on biased, incomplete,  anecdotal information from friends and family.


Seniors Need to Be Cautious: Homeowners are especially vulnerable targets for misinformation and fraud. However, this demographic does not have time to recover from a financial mistake. Making the wrong choices that affect how they finance retirement and protect themselves could leave seniors without enough money later when they need cash for costly expenses like health care.


The Financial Industry Needs to Do More: There is a need for unbiased, transparent, and trusted sources of information on home equity options that are aligned with consumer interests.



Gone are the days of cookie-cutter retirement plans and guaranteed pensions. Every Canadian needs to proactively craft their unique vision and path for retirement. 



Banking on My Experience


The Retire With Equity mission is dedicated to helping retirees find the right combination of financial strategies to achieve their goals.


The Equity Advantage

One of the standout features of Retire with Equity's approach is our focus on home equity as a key component of retirement planning. For many Canadians, their home is their most significant asset, and unlocking its potential can be a game-changer. Whether through downsizing, refinancing, or reverse mortgages, Retire with Equity will offer guidance on integrating this valuable resource into a retirement strategy.


The Human Touch

At Retire with Equity, we promise to offer straightforward advice with a personal touch. It's not just about the numbers – it’s also about the dreams you have for retirement.  We will bring patience, empathy, and respect to every conversation. And we won't forget our sense of humour, as retirement is supposed to be fun.  We're committed to making things easy to access and understand, no matter where you are in life. 


Education is Everything

Two of our core values are empowering education and epic transparency. Our online resources, webinars, and workshops will be tailored to demystify the world of finance for retirees and soon-to-be retirees, increasing their financial literacy. We will bring transparency to the vital information reserved for the small print, answering the questions retirees don't even know to ask. Whether you're a financial guru or just starting to think about your nest egg, we'll have something for you.


A Senior-Friendly Approach

 Our approach will integrate technology with a user-friendly interface so that retirees can access their services without hassle. Gone are the worries of getting stuck in the weeds of complex interfaces or endless financial jargon. We bring "kitchen table" logic when explaining all financial details, no matter how complex the concept is.


Stories that Inspire

From coast to coast, Retire with Equity will share personal stories that help educate and motivate Canadians. We want to show you visible proof that it's always possible to rethink and revitalize retirement plans. Hearing from fellow Canadians who have successfully navigated the retirement waters offers hope for those still planning their way. Feelings of guilt and shame are common among retirees searching for retirement options. Learning about countless other retirees in similar situations often alleviates this guilt and shame. 


Join the Revolution


Retire with Equity is more than just a company—it’s a movement. Canadians across the country will join in and transform their retirement years into the best chapter of their lives. Empowered by new tools and expertise at their fingertips, they will not just survive but truly thrive in retirement.


As an "Equity Advocate," I pledge to help Canadians navigate the complexities of retirement in ways that educate, inspire, and entertain.  I look forward to the conversation.  Please subscribe to our regular updates and follow us on social media.  Here's to the best years ahead!


Don't Retire---Re-Wire!


Sue

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Sue Pimento

Sue Pimento

Founder | CEO

Focused on financial literacy and retirement strategies. Authoring new book on home equity strategies to help seniors find financial freedom

Pension ReformInterest RatesHome EquityMortgagesReverse Mortgages

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Say you're 70 and you take out a $200,000 reverse mortgage at Bloom's lifetime rate of 6.69%. Over 20 years, with compounding interest and no payments, you'd owe approximately $724,000. Now, if you took out a traditional reverse mortgage at 6.54% over those same 20 years (not including rate hikes, though they're likely), you'd owe approximately $707,000. That's a $17,000 difference — not a high price to pay for lifelong comfort. But There Are Trade-Offs The early-exit penalties are steep: · 8% in year one · Decreasing until year five · Then three months' interest thereafter Penalties are waived if you downsize, move to assisted living, or pass away. But if you leave for other reasons? You're responsible for the costs. Translation: Only select this reverse mortgage product if you genuinely plan to stay put. Zooming Out: The Full Menu of Equity Options This lifetime reverse mortgage is just one tool in a broad (and expanding) equity-release toolkit. Others include: ADUs (Accessory Dwelling Units): Build a suite, rent it out, house a caregiver, or create multigenerational living. Offers independence and income potential. Downsizing: The classic move. Big house to small house to building a solid cash cushion. Emotionally complex, financially empowering. HELOCs (Home Equity Lines of Credit): Offer flexible, interest-only repayment options. Manulife One: The Swiss Army knife of HELOCs. Perfect for disciplined retirees. HESA (Home Equity Sharing Agreements): No payments or interest — you exchange future house appreciation for cash today. Traditional Reverse Mortgages: Similar to Bloom in structure but without the lifetime rate. And yes — boomers have more equity-access options than any generation in Canadian history. Not arrogance. Just facts. And increasingly relevant ones. Research shows that 91% of older adults in Canada prefer to age at home rather than move to an institution, with 92.1% of Canadian seniors currently living in private dwellings in the community. Honest Questions to Ask Yourself Before Signing for Any Type of Loan Wondering if you should take the leap?  Before you even consider signing anything, pour yourself something warm (or stronger) and ask a few honest questions. · Am I emotionally ready, or just tired of worrying about money? · Am I genuinely content to remain in this home forever, or am I romanticizing the past? · Where are interest rates heading — and how will that affect my comfort level? · What exactly do I need cash flow for — income, essentials, opportunities, legacy, or "finally something for ME"? · Have I thought about how this decision might affect my children and inheritance? · What future choices could this create — or prevent? · And the biggest question of all: if Plan A fails, is Plan B truly realistic… or just wearing yoga pants and pretending? Because here's the real truth: the happiest retirees aren't the ones who got lucky — they're the ones who used their luck with purpose, timing, and emotional clarity. Bloom's lifetime reverse mortgage isn't a miracle cure, nor is it a trap. It's simply one tool — and for the right person, it provides emotional stability and financial predictability. Here's What Matters Before you sign for a reverse mortgage, HELOCs, or anything else with an acronym and a sales commission attached, here's my professional advice: Get the full picture so you can make decisions that truly work for your life — not merely to meet someone else's sales quota.  The "best" financial move isn't the one that appears impressive on a spreadsheet. It's the one that allows you to sleep peacefully at night. The one that grounds you emotionally and supports you financially. Retirement isn't the end of the story. It's the chapter where you finally get to blend strategy with self-awareness, confidence with clarity, and luck with a bit of laughter. And if life insists on being unpredictable? Then outsmart it, outlaugh it, and choose the equity tools that help your future self say, "Nice move." Love, Aunt Equity" aka Sue "Don't Retire… ReWire!!!" Want to become an expert on serving the senior demographic? Just message me to be notified about the next opportunity to become a "Certified Equity Advocate" — mastering solution-based advising that transforms how you work with Canada's fastest-growing client segment.

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