Featured Post from Retire with Equity

Drops in the Bank of Canada rate will not solve housing affordability.

Spoiler Alert: The problem isn't just about interest rates

Dec 11, 2024

7 min

Summary: The Bank of Canada’s interest rate cuts won’t resolve Canada’s housing affordability crisis. Factors such as skyrocketing home prices, unaffordable down payments, and stagnant wage growth are other primary challenges to address.  A personal example offered by the author shows how the price of her Toronto home surged over 1,000% from 1983 and 2024 while her wages during the same period rose only 142%. While some see this issue as a consequence of Baby Boomers remaining in their homes, it's more nuanced than that.  We have systemic barriers in Canada that necessitate targeted policy changes. It’s time to tackle affordability and implement effective solutions.


The Bank of Canada met today, to determine interest rates for the last time this year. They announced a drop of .50 basis points. This is part of a broader effort to stimulate economic growth in Canada, which faces challenges, especially a softening labor market and persistent inflation. 


Why Should You Care?


Interest rates determine how affordable our debt will be and what return we can expect on our savings. Since mortgages represent most consumer debt, interest rates directly impact affordable housing costs, making them very newsworthy. However, interest rates only tell part of the story.


When the Bank of Canada lowers its rate, it primarily impacts variable-rate mortgages. These are tied directly to the BoC's overnight rate, so a rate cut can reduce the interest costs on these loans. Homeowners with variable rates would likely see a reduction in their payments, with more of their payments going toward principal rather than interest. People without debt and savings (primarily seniors) will see a drop in their investment returns.


In contrast, fixed-rate mortgages, which are not directly tied to the BoC's rate, are influenced more by the bond market, particularly the 5-year government bond yield. The current trend in bond yields suggests that fixed mortgage rates could also decrease over time.


Let’s pause here and talk about the affordability of houses and how interest rates are not the reason housing is out of reach for most first-time buyers.


A walk down memory lane might offer some perspective.


I purchased my first home in the fall of 1983 for $63,500 (insert head shake). I was 27 years old, and before you do the math, yes, I am a Baby Boomer. My first serious (so I thought) live-together relationship had just ended, and I was looking for a place to live. I had finished school and had a good full-time job with Bell Canada. A rental would have been preferred, except I had a dog. Someone suggested that I buy a home. I did not know very much about purchasing real estate or homeownership, for that matter. But I was young and willing to learn.


I had been working full-time for two and a half years. During my orientation at Bell Canada, my supervisor told me to sign up for their stock option program. She said I would never miss the money or regret signing up for the plan. She was right. When I purchased my home, there was enough money in my stock account for a down payment and closing costs. My interest rate was a terrifying 12.75%, yielding a mortgage payment of just under $670 monthly. The lender deemed this affordable based on my $18,000 annual wage. Life was good.


This was in 1983, when the minimum down payment for a home purchase in Canada was typically 10% for most buyers. However, a lower down payment could be possible with mortgage insurance (provided by organizations like Canada Mortgage Housing Corporation (CMHC), which allowed buyers to put down as little as 5%, provided they qualified for insurance. This was commonly available for homes under $150,000, with stricter terms for higher-priced homes.


If you had a higher down payment of 25% or more, mortgage insurance wasn't required, and you could avoid extra costs associated with insured mortgages. This was part of broader efforts by the government to make homeownership more accessible, especially amid the high interest rates of the time.


So let's do the math. Circa 1983

I first needed to prove that I had saved $3,175 in down payments and $953 in closing costs for $4128. In the 2.5 years I worked at Bell Canada, I saved $4,050 (including Bell Canada’s contribution) in stocks. I also had another $5,000 in my savings account. $9,000 was enough to complete the transaction and leave me with a healthy safety net.


Fast forward to 2024

Let’s compare what the same transaction would look like today. Using the annual housing increase cited on the CREA website, the same house would be valued at approximately $700,000 today. Interest rates are much lower today, at 4.24%, yielding a mortgage payment of $3,545.


1. The down payment rules have changed. For the first $500,000, The minimum down payment is 5%. 5% X 500,000=25,0005\% \times 500,000 = 25,0005% X 500,000 = $25,000


2. The minimum down payment for the portion above $500,000 is 10%.

10% X (700,000−500,000) = 20,00010\% \times (700,000 - 500,000) = 20,00010% X (700,000−500,000) = $20,000


3. Total minimum down payment:

25,000+20,000 =4 5,00025,000 + 20,000 = 45,00025,000+20,000 = $45,000


Thus, the minimum down payment for a $700,000 home is $45,000.


Here is the comparison:


1983 Scenario                                              2024 Scenario                                  Variance


Purchase Price: $63,500                               $700,000                                           up 1002%

Down Payment: $3,175                                 $45,000                                             up 1317%

Loan Amount: $60,325                                  $655,000                                           up 986%

Interest Rate: 12.75%                                   4.24%                                                down 200%

Monthly Mortgage Payment: $670                $3,545                                               up 429%

Wage: $18,000                                             $43,500                                              up 142%

Gross Debt Service Ratio: 44.6%                 97.8%                                                up 119%


Time to Save for Down payment:

2 years                                                           12.4 years                                        up 520%


*Please note that this example does not include mortgage insurance


The real problem

As you can see, housing was much more affordable for me in 1983 and far from cheap in 2024. During the past 41 years, wages have increased by 142%, yet interest rates have dropped by 200%. But the most significant impact on affordability has been the over 1,000% increase in housing prices.


So why is all the focus on interest rates?


At the risk of oversimplifying a complicated issue, I believe the media often uses interest rates as a "shiny penny" to capture attention, diverting focus from deeper housing affordability issues. This keeps the spotlight on inflation and monetary policy, aligning with economic agendas while ignoring systemic problems like down payment barriers and the shortage of affordable homes.


Indeed, a movement in interest rates often has an immediate and noticeable impact on borrowers' affordability, making it a hot topic for news and policymakers. However, the frequency and consistency of the Bank of Canada meetings on interest rates give the impression that rates are the primary issue, even though they are just one part of a complex system. For example, even if the Bank of Canada dropped interest rates below zero, it would do little to solve today’s homeownership affordability issue.


The real problems:


1. Down Payment Challenges: With housing prices skyrocketing, the 5%- 20% down payment required has become insurmountable for many, particularly younger buyers. High rents, stagnant wage growth relative to home prices, and rising living costs make saving nearly impossible.


2. Lack of Affordable Starter Homes: Due to profitability and zoning restrictions, housing developments often prioritize larger, higher-margin homes or luxury condos over affordable single-family starter homes.


3. Misplaced Generational Blame: Blaming Baby Boomers for "holding onto homes" oversimplifies the issue. They are staying put due to limited downsizing options, emotional attachments, or the need for housing stability in retirement, not a desire to thwart younger generations.


4. Political Challenges: Addressing structural issues like zoning reform or incentivizing affordable housing construction requires political will and collaboration, which can be slow and contentious.


A broader lens is needed to understand and address the actual barriers to home ownership. Interest drops are merely a band-aid solution that misses the central issue of saving a down payment.


The suggestion that we have an intergenerational issue needs to be revised. The fact that Baby Boomers are holding on to their homes should not surprise anyone. However, Real Estate models that predicted copious numbers of Baby Boomers selling their homes to downsize got it wrong. Downsizing was a concept conceived in the 1980s. Unfortunately, it did not account for record-setting home price increases or inflation, leaving it undesirable for today’s seniors.


Although this is a complex issue, a few suggested solutions are worth exploring.


What can be done?


Focus on Policy Innovations:


To create housing, increase supply, curb speculative investments, and provide targeted assistance for builders to build modest starter homes.


To create rentals, homeowners should also receive income tax incentives to build Accessory Dwelling Units (ADUs). These could be used as affordable rentals or to house caregivers for senior homeowners. Today, The federal government announced a doubling of its Secondary Suite Loan Program, initially unveiled in the April 2024 budget. This is a massive step in the right direction.


To create down payments, adopt a policy allowing first-time home buyers to avoid paying tax on their first $250,000 of income. Then, they could use the tax savings as a down payment.


Focus on Education and Advocacy:


Include a warning that helps consumers understand that withdrawing from RSPs results in a significant loss of compound interest related to withdrawals and how this can harm income during retirement.


Encourage early inheritance to create gifted down payments. Normalize the concept by emphasizing the benefits to the giver and the receiver.


Educate the public on using financial equity safely and create down payments as an early inheritance for their heirs. This will shift the conversation and initiate an intergenerational transfer of wealth that empowers the next generation to own a home.


The Bottom Line

While the Bank of Canada interest rate cut may ease some financial strain for homeowners with variable-rate mortgages, it will do little to address the core issue of housing affordability. The media's fixation on interest rates as a "shiny penny" distracts from more profound systemic barriers, such as the inability to save for a down payment and the lack of affordable housing stock. These challenges require targeted policies, structural reforms, and intergenerational collaboration to be tackled effectively.


The focus must shift from short-term rate adjustments to long-term solutions that prioritize accessibility and affordability in housing. Without meaningful action, homeownership will remain out of reach for many, perpetuating the cycle of financial inequity across generations.


Dont't Retire... Re-Wire!


Sue



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April 1st is the one day we all expect to be fooled. Scammers are counting on the other 364 featured image

12 min

April 1st is the one day we all expect to be fooled. Scammers are counting on the other 364

Breaking News: Free Cruise for All Retirees! Congratulations!!! If you are reading this, you have just been chosen for a luxury Caribbean cruise, a $5,000 shopping spree, and a lifetime supply of… well, something vaguely exciting. All you need to do is: Click this link, enter your banking info, confirm your SIN, and maybe your childhood pet's name for good measure. Still reading?  Good. Because if that opening gave you even the tiniest thrill, the little flutter of wait, really? You've just experienced exactly what scammers are counting on. APRIL FOOL'S!!! And also: welcome to the world of phishing. Population: way too many of us. Phishing vs. Fishing: A Retirement Skill You Didn't Know You Needed There are two kinds of fishing in retirement.  One involves a dock, a thermos of good coffee, and no deadlines at all. The fish might or might not cooperate. That's fine. That's the whole point. The other scenario involves someone trying to steal your identity by congratulating you on a cruise you never booked, a prize you never won, and a windfall that demands your banking details, your SIN, and, just for fun, the name of your first pet. (Buttons. It's always Buttons.) Let's make sure you're fluent in the first kind and bulletproof against the second. Fraud Doesn't Just Happen to Fools Here's something important to say aloud before we proceed. Fraud isn't caused by people being careless, gullible, or old. It is orchestrated by professionals whose full-time job is to manipulate human behaviour under pressure. There is a clear difference between these two, and how we discuss fraud influences whether victims come forward or stay silent out of shame. This issue is more significant than most realize. Canadians lost over $638 million to fraud in 2024, an increase from $578 million the previous year, according to the Canadian Anti-Fraud Centre. However, that figure only tells part of the story. The CAFC estimates that just 5 to 10 percent of total fraud losses are ever reported. Think about that for a moment. The number we see is already staggering, and the real total is almost certainly ten times higher. Seniors make up a disproportionate share of those losses, especially in investment fraud, romance scams, and the grandparent scam. But here's the part the statistics don't show: fraud is improving at its craft. These aren't the poorly written emails of 2005. Today's scams are refined, patient, and psychologically targeted. They're designed to create urgency, confusion, and fear — aiming to override careful thinking precisely when it's needed most. So let's talk about what that actually looks like. A Very Personal Fraud Story That Will Stay With You A family reached out to me recently, after reading one of my earlier posts on fraud and seniors. Their father had been the victim of a prolonged scam, one that unfolded over months and caused significant financial damage. They only found out after he passed away. Three things about this story stopped me cold. First, their father kept meticulous records. He journaled every interaction, every step, every decision. There was essentially a play-by-play account of how he became entangled and how difficult it became to find a way out. Second, he was an intensely private person. Not a single family member knew any of it was happening while it was happening. Third, he was a chartered professional accountant. Decades of financial training, discipline, and experience. Someone who understood numbers, risk, and how money moves better than most people ever will. And still. Under the right conditions, with the right psychological pressure applied at the right moments, he was drawn in. That is not a story about a foolish man. That is a story about how sophisticated fraud has become. And it is a story that is playing out in living rooms and email inboxes across this country every single day. Why Seniors Are Targeted (And It's Not What You Think) Scammers don't just go after older adults because they think we're naive. They go after us because we have assets. Savings. Home equity. Good credit. Pension income that actually shows up every month. We're not easy targets; we're valuable ones. They also go after us because retirement can come with conditions that fraud is specifically designed to exploit: financial anxiety about making savings last, changes in how we process decisions under pressure, and, for many, reduced opportunities to run something by a trusted person before acting. Social isolation is not a character flaw. It is a vulnerability, and the people running these operations know exactly how to use it. The Scams You Actually Need to Know About The Grandparent Scam. You get a call. It's your grandchild. They're in trouble, arrested, in an accident, stranded, and they need money right now. Please don't tell Mom and Dad. The caller may not even sound exactly right, but panic has a way of filling in the gaps. Sometimes a fake lawyer or police officer jumps on the line to add credibility. The script is designed to bypass your rational brain and go straight for your heart. If this ever happens: hang up. Call your grandchild directly on a number you already have. Every time. The CRA Impersonation Call. This one is especially popular at tax time.  An official-sounding voice informs you that you owe back taxes and if you don't pay immediately via e-transfer or gift cards, a warrant will be issued for your arrest. The Canada Revenue Agency does not call you out of the blue demanding gift cards. Full stop. If you're ever unsure, hang up and call the CRA directly as 1-800-959-8281. The Romance Scam. Someone finds you online, charming, attentive, almost too good to be true. Weeks or months in, a crisis emerges. Could you help, just this once? These scams are emotionally brutal and financially devastating. If an online relationship moves unusually fast and a financial request follows, that's not love. That's a script. The Investment Opportunity. Guaranteed returns. Exclusive access. Limited time. These words belong together the way "healthy" and "deep-fried" don't. Legitimate investments don't come with countdown clocks. Phishing Emails and Texts. These mimic your bank, Canada Post, Service Canada, Amazon, and anything you'd recognize. They look almost right. The email address is a little off. The link goes somewhere slightly wrong. They want you to click, to enter information, to act now before something bad happens. The urgency is the tell. No Shame. Seriously. None.  If this has happened to you, or someone you love, please hear this: falling for a scam does not mean you are getting old, losing it, or slipping cognitively. It means you are human and were placed under carefully engineered psychological pressure by someone who practices this for a living. That is it. The end. And if you need a reminder that this crosses every age and profession, consider the case of a retired district court judge who lost the equivalent of over $100,000 to a digital arrest scam. Fraudsters called claiming his phone number was linked to a trafficking investigation. Despite decades on the bench watching deception unfold in real time, fear and intimidation did what all that professional knowledge could not protect against. A judge. Still got hooked. That is what these scams do when they are built well. (Source: Devdiscourse) RCMP Sergeant Guy Paul Larocque of the Canadian Anti-Fraud Centre puts it plainly: "Fraudsters are professional salespeople who work a target until they close the deal and get their money." That framing matters. You would not blame yourself for being sold something by a skilled salesperson operating under false pretenses. This is no different. The embarrassment is real and completely understandable. However, it does not fairly reflect what occurred. The CAFC has pointed out that many individuals feel ashamed of being victims of fraud and hesitate to report it, but every report helps break up fraud schemes and protect others. Reporting to the Royal Canadian Mounted Police is not a sign of failure; it is a vital way to safeguard the next person. A Word to Family Members re: Fraud: Drop It Like It's Hot If someone you care about has been scammed, put down whatever you are holding, take a breath, and read this carefully. Do not scold them. Do not lecture them. Do not "grandsplain" them into the ground. Grandsplaining, for the uninitiated, is mansplaining for the aged, and it is just as unwelcome. Nobody needs a slow, patient, thoroughly detailed breakdown of everything they should have done differently while they sit there wishing the floor would open up and swallow them whole. They already know. They feel terrible. They have probably been replaying every moment of it since it happened, asking themselves how they missed it, why they trusted it, and what they were thinking.  What they do not need is you asking those same questions out loud. Your role at this moment isn't to be the smartest person in the room. It's not to claim you would never have fallen for something like this. And it's certainly not to start a sentence with "well, I always said you should..." because if you finish that sentence, you're on your own. Your job is to be kind. Full stop. Help them contact the bank. Sit with them while they file the report. Make the tea. Handle the phone call they are too rattled to make. Be the calm in the room. That is what love looks like in a crisis, and this is a crisis. Now here is the part where the tables turn, so pay attention. Scammers are not ageist. They are not sitting in a room somewhere saying, "Let's only go after the over-65s today." They go after anyone with money, a phone, and a moment of distraction. Which means they go after everyone. Your inbox is not immune. Your judgment under pressure is not immune. Your "I would never fall for that" confidence is, frankly, exactly the kind of thing scammers count on. Fraud can happen to anyone, and sharing your experience with others, whether or not money was lost, can help prevent them from being victimized by the same or a similar fraud. Nobody is too sharp, too young, or too digitally savvy to be targeted. The call is coming for all of us eventually. So when it comes for you, and you call your mother in a panic, wouldn't you rather she answer with warmth instead of a very long "I told you so"? Be nice to her now. Consider it an investment. One day, she might be the one sitting you down for "the talk." And at that point, the only appropriate response is to make the tea and keep your opinions to yourself. What the Experts Say: Practical Tips to Stop Fraud In my book "Your Retirement Reset" (ECW Press: Now available for Pre-Order here), I cover the topic of fraud and scams." I wanted to address this issue in depth because fraud prevention is not a footnote in retirement planning. It belongs front and center. Here is an excerpt of Chapter 9 of the book: "Remember the old saying, 'Nothing ever comes free'? While it is hard for many seasoned Canadians not to trust a caller, unfortunately, that's the way of the world today. Here are some tips for protecting yourself. Be skeptical. Be wary of unsolicited phone calls, emails, or messages, especially those asking for personal information or money. Don't take their word for it. Ask the person for their details. If they say they are calling from your bank, get their name and branch number and call your bank for verification. If the message is in an email, contact the institution identified in the email. Do not respond right away, ever. Don't share personal information. Never share personal, financial, or health information with unknown individuals or organizations. Consult trusted individuals. Discuss suspicious offers or communications with family members, friends, or trusted advisors. This is especially important if you are asked to donate to a charity or make any kind of financial investment. Use technology wisely. Install antivirus software, create strong passwords, and stay alert to phishing tactics such as harmful links in texts or emails. Use the block feature on your phone to cut off repeat callers you suspect are fraud artists. Work closely with your financial institution. Ask your bank to send alerts for any unusual activity on your account. Review your statements every month and report unauthorized transactions immediately. Report suspicious activity. If you suspect a scam has targeted you, contact the police. Stay informed. Keep up to date on prevalent scams aimed at older adults. A quick Google search on any unsolicited information request can often tell you whether it has already been flagged. These scams are frequently reported to authorities and featured in the media and on consumer advocacy websites." How to Stay Off the Hook When It Comes to Fraud A little friction can be helpful. Scammers depend on speed, on you reacting before you think. The best thing you can do is slow down. Avoid clicking links in unexpected messages; instead, go directly to the company's website by typing it yourself. Call back on a number you find independently, not one provided in the suspicious message. Check email addresses carefully, as a transposed letter can sometimes be all it takes. Keep your devices updated, since those updates fix real vulnerabilities. Discuss these topics openly. With your kids, friends, book club, or the person behind you in the coffee line. Scams flourish in silence and shame. Talking honestly is one of our strongest protections. In retirement, urgency belongs in spin class. Not your inbox. What to Do If You Took the Bait No judgment here. These scams are truly sophisticated. Smart, experienced, financially educated people fall for them, as we've just established. If you think you've been scammed, stop engaging immediately, change your passwords, contact your bank to flag or freeze your account, run a security scan on your device, and report it to the Canadian Anti-Fraud Centre at 1-888-495-8501. Reporting matters even if you cannot recover the money. It protects the next person in line. Think of it as cutting the line before the fish swims off with your whole tackle box. 3 Things Worth Setting Up This Week to Protect Yourself from Fraud These take 20 minutes and quietly protect you around the clock. Two-factor authentication (2FA) adds a second verification step. It's usually a text code. And it helps ensure that a stolen password alone won't give access to your accounts. Credit Card controls allow you to lock and unlock your debit or credit card instantly through your bank's app, so if something seems suspicious, you can freeze it within seconds. Real-time alerts enable you to set notifications for any transaction over a threshold you specify, so if someone is spending your money, you are informed immediately, rather than finding out at the end of the month when the damage is already done. Don't Get Hooked by Fraud.  Retirement should be about freedom. The freedom to fish from a proper dock, travel somewhere warm, and spend your money on things that truly bring you happiness. It's not meant to involve fake urgency, suspicious links, or people who want your SIN and the name of your childhood cat. We Need to Do More to Protect Seniors The fraud prevention system in this country, to be frank, hasn't kept pace with the rise of fraud itself. That gap is real, it's growing, and it needs more attention than it currently gets. Meanwhile, the best we can do is stay informed, keep in touch with trusted people, and not let embarrassment prevent us from seeking help or reporting what happened. You worked hard for what you have. You deserve to enjoy it without looking over your shoulder. So enjoy the lake. Take the cruise — a real one that you booked yourself. Spend wisely, live well, and protect what's yours. And if anyone ever tells you that you've won something you never entered? Smile. Wish them a Happy April Fool's. Then hang up. Have a scam story, a close call, or thoughts on what fraud prevention is getting right or getting wrong? I would love to hear from you. Drop it in the comments or send me a note. This is exactly the kind of conversation we should all be having, and the more real experiences we share, the better equipped we all are to protect each other. Sue Don't Retire…ReWire! My Book is Now Available for Pre-Order If this message speaks to you, or to someone you love, I hope you will pre-order a copy of Your Retirement Reset. Available September 8, 2026. Here's the link. And if you love supporting Canadian booksellers, please also check with your local independent bookstore. Most can easily order it for you.

Your Retirement Reset: My New Book will Be in Stores on Sept. 8th featured image

6 min

Your Retirement Reset: My New Book will Be in Stores on Sept. 8th

This one has been a long time coming. My new book, Your Retirement Reset: How to Convert Home Equity into Financial Security, published by ECW Press, finally has a publication date. Why I Wrote This Book I have spent decades watching far too many older Canadians carry unnecessary financial stress into what should be a more secure and dignified stage of life.  Throughout my career as a mortgage broker, business owner, and later as an executive at HomeEquity Bank, I saw the same painful pattern again and again: people who had worked hard, paid down their homes, built real equity, and still felt trapped. Many were living with fear, cutting back on basic pleasures, worrying about every bill, and feeling ashamed that they had not “saved enough.” Meanwhile, a major asset was sitting right beneath their feet. What struck me most was this: younger homeowners often see home equity as a financial tool, but many retirees do not. For many older Canadians, the idea of borrowing against their home feels frightening, even when it could improve their quality of life and help them stay independent. This resistance is not just about math. It is emotional. It is psychological. And it is deeply tied to identity, security, family, and fear. The Retirement Problem We Are Not Talking About Honestly Enough The old retirement script is failing too many people. We are living longer. The cost of living keeps rising. Private sector pensions have largely disappeared. Healthcare and long-term care costs are real concerns. And many people reaching retirement are discovering, far too late, that the traditional advice to simply save, downsize, and make do does not reflect today’s reality. At the same time, most older Canadians want to age in place. They want to remain in the homes and communities they know and love. They do not want to be pushed into selling, renting, or moving in with family unless they truly choose that path. Yet many are gripped by what I call FORO — Fear of Running Out. That fear shapes countless decisions and robs people of peace of mind. It’s actually rooted in neuroscience and the way we’re wired to behave as we do. I’ve posted about this here in my newsletter and Substack a lot. Because it’s important. This is not a fringe issue. It is a national issue. And it deserves a more honest conversation. Why This Book Matters for Canadians 55+ There is a critical gap in this country when it comes to retirement literacy. Many Canadians over 55 have substantial value tied up in their homes, yet traditional retirement advice often does not seriously incorporate home equity into the conversation. At the same time, the information people do find is often fragmented, biased, overly technical, or scattered across lenders, planners, brokers, lawyers, accountants, media stories, and well-meaning family members. That leaves people vulnerable. They may rely on outdated assumptions. They may wait too long to explore options. They may make decisions out of fear rather than clarity. And because older adults usually do not have decades to recover from a financial mistake, the stakes are high. I want to be direct about this: one wrong decision later in life can be extremely hard to reverse. Seniors need unbiased, transparent information they can actually trust. I wanted to create a resource that is practical, plainspoken, and empowering. Not a sales pitch. Not a jargon-filled textbook. Not a one-size-fits-all solution. What I Hope This Book Will Accomplish I hope “Your Retirement Reset” helps Canadians 55+ do a number of things. First, I hope it helps people understand their options more clearly. Too many retirees only hear about a narrow set of choices. I want readers to see the full landscape and understand how different strategies work, including the pros, cons, and trade-offs. Second, I hope it helps people replace fear with confidence. Retirement should not be defined entirely by scarcity thinking. When people understand how to use all of their assets strategically, including home equity, they can make decisions from a position of strength rather than panic. Third, I hope it helps families have better conversations. One of the great hidden challenges in retirement planning is communication. Adult children often mean well, but they may not understand the emotional reality of aging, independence, or financial vulnerability. These conversations matter, and they are often avoided until a crisis forces them. This book is meant to encourage healthier, earlier, and more respectful dialogue. Fourth, I hope it helps more older Canadians protect their dignity and independence. To me, this is the heart of the matter. As I work through my current MBA studies, my life today is filled with spreadsheets. But retirement shouldn’t be. It is about autonomy, confidence, lifestyle, peace of mind, and the ability to live on your own terms for as long as possible. The Information Gap Nobody Is Filling One reason I felt so compelled to write this book is that the resources simply are not where they need to be. There is no shortage of opinions in the marketplace. But there is a shortage of clear, balanced, accessible education specifically designed for older Canadians trying to navigate retirement in the world as it actually exists now. Many books in this category are dated, narrowly focused, or too technical for many of the people I speak with. And it’s to be expected that much of the consumer-facing content around financial products like reverse mortgages comes from lenders themselves. Many seniors are left trying to piece together a life-changing financial strategy from disconnected advice and Google searches. That is the gap I am trying to fill. Canadians need impartial, balanced information they can trust — especially around home equity strategies and retirement financing. I believe Canadians deserve better than that. They deserve a resource that speaks to them in plain language, respects their intelligence, acknowledges the emotional complexity of these decisions, and gives them practical tools to move forward. We Need a More Modern Retirement Roadmap This book is built around a simple idea: retirement planning cannot just be about accumulating savings. It also has to be about learning how to use those resources wisely. That includes understanding how to: • create income • manage spending • shelter income from unnecessary tax pressure • protect savings from fraud and bad decisions • evaluate whether home equity should play a role in your retirement strategy These are the pillars I keep coming back to. They reflect what I believe Canadians in this stage of life truly need.  I want readers to come away not just informed, but steadier. More capable. More hopeful. This Is Personal for Me I am part of this demographic myself. I understand the questions, the transitions, the uncertainty, and the pressure. I also know from lived experience that retirement is not simply a financial event. It is a life event. It affects your confidence, your relationships, your routines, your health, and your sense of who you are. That combination — professional experience and personal experience — is exactly what I bring to every page. That is why I have approached this book not simply as a finance book, but as a practical guide for real people facing real decisions. My hope is simple: that this book helps more Canadians 55+ move into the next chapter of life with greater knowledge, less fear, and a stronger sense of possibility. Because retirement should not just be about getting by. It should be about living with confidence, dignity, and choice. The Book is Now Available for Pre-Order If this message speaks to you, or to someone you love, I hope you will pre-order a copy of Your Retirement Reset. Available September 8, 2026. PRE-ORDER NOW: https://ecwpress.com/products/your-retirement-reset And if you love supporting Canadian booksellers, please also check with your local independent bookstore. Most can easily order it for you. Don’t Retire… Re-Wire! Sue

Retirement Maxxing: How Small Decisions Help You Build a Better Future featured image

10 min

Retirement Maxxing: How Small Decisions Help You Build a Better Future

The basic idea is to pick a corner of your life and optimize it ruthlessly. Sleep maxxing. Health maxxing. Productivity maxxing. In its more extreme corners, people are attempting to optimize their actual physical features. Go ahead and Google "looksmaxxing" if you are curious and have a strong constitution. One influencer named Clavicular — a 20-year-old from Hoboken who claims to have taken a literal hammer to his face to coax a chiselled jawline — has become the reigning king of this particular rabbit hole. Medical experts would prefer you not try that at home. The Globe and Mail published a comprehensive explainer on the whole phenomenon. The Republican National Committee put out a press release praising Donald Trump for "jobsmaxxing" the economy. The Department of Defence posted a soldier with the caption "lethality maxxing." It has become, as one writer put it, the suffix that just will not quit. Retirement Maxxing: because chin waxing, I mean maxxing, was already taken. And yet, buried beneath all the absurdity, the underlying impulse is not entirely ridiculous. Humans want to optimize things. We always have. The real question is whether we are optimizing the right things. Then, as these things sometimes happen, three articles landed in my inbox in the same week and refused to leave my mind. Maxxing. The psychology of future selves. A golfer named Max Greyserman, who sits just one-tenth of a stroke from the top of his sport. I am not a woman who ignores signs. The connection was obvious once I saw it: retirement might be the most important time to apply this kind of thinking. Not the obsessive version involving ice baths and fourteen supplements before breakfast. The practical version. Thoughtful maxxing that quietly stacks the odds in your favour over decades. Retirement isn't just one decision; it's hundreds made over the years, each guiding your future self toward either financial dignity or a Shaggy tribute tour you never signed up for. The “Shaggy Problem”: How Your Retirement Decisions Today Determine Your Financial Security Tomorrow You remember Shaggy. The reggae artist. Enormous hit. "It Wasn't Me." When it comes to retirement, it absolutely was you. Every decision you make today is writing a letter to your future self. Some of those letters are generous and thoughtful. Others arrive decades later, like a bill you forgot to pay, from a creditor with excellent memory and zero sympathy. The seventy-five-year-old version of you hopes the fifty-five-year-old paid attention. The eighty-five-year-old version would very much like functioning knees, a dignified income, and the ability to say "I planned for this" rather than "I did not think it would go this fast." It went that fast. That's why the most useful habit you can develop right now is what I call the future-self test. Before making a major financial or lifestyle decision, pause and ask: how will this look from the other end? Will I still think this tattoo is a good idea when I’m ninety? Will I regret staying in a house that is too large and too expensive for another decade? Will my future self thank me for delaying CPP, or curse me for taking it early because waiting felt uncomfortable? Or as the Beatles asked rather memorably: “when I'm sixty-four, will you still need me, will you still feed me?” The song is charming. The financial planning version is considerably less so if you have not thought it through. The future-self test is not complicated. It is just the habit of writing better letters. What Sports Analytics Can Teach Us About Smarter Retirement Decisions Speaking of decisions that come back to haunt you, let's discuss probabilities. A recent New York Times article about golfer Max Greyserman stopped me mid-scroll (Lindgren, 2026). Not because of the golf — though the golf is fascinating — but because of what it revealed about the gap between what the data says and what people actually do when the stakes are high. Greyserman's scoring average is less than one-tenth of a stroke per round away from the elite level. One-tenth of a stroke. Not a full swing, a putting mistake, or a collapse on the eighteenth. The difference between obscurity and greatness in pro golf is about the time it takes to find your reading glasses. Which, as we've established, were on your head the entire time. Hockey analytics have demonstrated that teams trailing late in a game should often pull the goalie much earlier than the traditional last-ninety-seconds rule. Research indicates that pulling the goalie around the eight-minute mark can significantly boost the chances of scoring, as the extra attacker alters the odds. However, most coaches still wait until the final minute or two. Why? Because if you pull the goalie at eight minutes and lose badly, it can look like you lost your mind. The math checks out, but the optics are terrifying. Soccer offers a similarly uncomfortable example. A widely cited study analysing thousands of penalty kicks found that about one-third of kicks are aimed straight down the middle of the net, yet goalkeepers stay in the centre only around six percent of the time (Chiappori, Levitt, & Groseclose, 2002). Shooting directly down the middle often provides good odds because the keeper has already committed to diving one way or the other. But if the goalkeeper stays put and makes the save, the kicker seems to have tried to outsmart the odds and failed. The math checks out. The optics, however, are still terrifying. Retirement is filled with these moments. And most people make their decisions based on the optics. Common Retirement Decisions Canadians Get Wrong — And What the Data Actually Says: Working a couple of extra years often delivers significantly better retirement outcomes, yet people retire early because they feel emotionally ready. Delaying CPP can greatly increase guaranteed lifetime income, yet many choose to claim early because waiting seems risky. Downsizing can free up cash and lessen financial stress, yet people stay in large homes because selling feels like giving up. Using home equity wisely can boost retirement income, yet many retirees dismiss this option because of a stigma rooted in outdated beliefs rather than current data. In each case, the emotionally comfortable choice is not the one with the best long-term odds. Fear of loss, fear of regret, fear of looking foolish — those emotions sprint ahead of rational thinking every single time. That is why the future-self test matters. Math is universal, but money is deeply personal, and the goal is to let one inform the other before it is too late. The Psychology of Retirement Saving: Why We Treat Our Future Self Like a Stranger The second New York Times article examined the psychology of how we connect with our future selves (The New York Times, 2026). The findings are humbling. Psychologists have discovered that people often see their future self almost like a stranger, which explains why saving for retirement can seem somewhat punishing. It feels less like helping yourself and more like sending a cheque to someone who shares your cheekbones but whose problems seem distant and abstract. Research led by Hal Hershfield found that when people feel more connected to their future selves, they save more and make consistently better long-term financial decisions (Hershfield, 2011). Retirement planning is not just about spreadsheets and withdrawal rates. It is about being genuinely generous towards the person you are becoming. It is a love letter, written in small decisions, over a very long time. So, write a good one. Your future self is counting on you. How to Optimize Your Retirement: A Practical Framework for Canadians If retirement maxxing were a lifestyle trend — and I am formally proposing that it should be — it wouldn’t involve bone-smashing or extreme jawline enhancement. It would look more like this. Health Maxxing: Why Strength and Mobility Are Financial Assets Move your body. Lift weights now and then. Walk up hills. Muscle strength is one of the most underrated assets for retirement that nobody discusses at dinner parties. Research from the National Institute on Aging confirms that strength training improves mobility, balance, and healthy longevity (National Institute on Aging, 2023). These are the very factors that influence whether your later years feel like a gift or a burden. People hesitate over the cost of a gym membership while ignoring the significant long-term benefit of staying upright, independent, and capable. Skipping exercise to save a few dollars is like stepping over a hundred-dollar bill to find a quarter. As Aunt Equity likes to say: be careful not to get out over your skis. (Yes, that was an exercise metaphor. You’re welcome.) Income Maxxing: How to Build Reliable Cash Flow That Lasts Build reliable income streams so you can sleep at night without one eye on the market. Pensions, annuities, dividends, home equity, and carefully structured withdrawals — these all play a role in a well-crafted retirement income plan. The goal isn’t to maximize a single number – it’s to reduce the worry behind all of them. If your retirement plan currently makes you watch financial news at midnight while eating crackers over the sink, something has gone wrong and we should talk. Purpose Maxxing:Why It Matters for Your Health and Longevity Retirement is not a forty-year holiday. Humans need purpose, connection, and something worth getting out of bed for — especially on days when nobody expects you anywhere and the morning is entirely, terrifyingly yours. NIH research consistently shows that social engagement and a sense of purpose are linked to better health and longer life (National Institute on Aging, 2023). Purpose is what makes a retirement that feels like freedom different from one that feels like a long Sunday afternoon with nowhere to go. Somewhere along the way, society decided that aging meant quietly fading into the background. Retirement is when you finally have permission to dye your hair a vibrant colour, volunteer somewhere meaningful, start a project that genuinely excites you, or do all three at once and totally surprise your grandchildren. Purpose is not optional. It is the foundation. Decision Maxxing: How to Overcome Emotional Bias Use data when the stakes are high. Emotions are useful for choosing dessert but much less reliable for planning a thirty-year income. Don't swat away analytics like a fly at a family picnic just because they suggest something uncomfortable. Run projections. Stress-test your plan. Understand probabilities. Pull the goalie early if the math indicates so, even if it looks odd at the moment. Because appearing odd now and being wrong later are not the same thing. Not even close. The Ending That Brings It All Together: Small Decisions That Compound Over Time Here’s what three articles about “maxxing” our future selves, and golf, taught me about retirement. Clavicular is out there taking a hammer to his face in pursuit of optimization. Max Greyserman is grinding for one-tenth of a stroke. Hal Hershfield is reminding us that we treat our future selves like strangers when we should treat them like people we love. And somewhere between all three of them is the retirement insight that really matters: the best decisions compound quietly. Tiny improvements in health, income strategy, purpose, and decision-making build up into dramatically different outcomes over decades. Not because of one dramatic move, but because of many small, sensible ones made with the future in mind. Your future self isn't a stranger waiting to judge you. They are the person you are intentionally becoming, shaped by every decision you make today. Perform the future-self test before making risky decisions like pulling the goalie, shooting down the middle, or getting a tattoo that might lead to an awkward chat with your colonoscopy technician (this is for you, JK). Consider whether your fifty-five-year-old self is being kind to your seventy-five-year-old self. Look at what the data says, not just what feels right. Retirement maxxing isn't about perfection. It's about making small, sensible decisions consistently and thoughtfully over time. Think of it as compound interest for your future self. Einstein allegedly called compounding the most powerful force in the universe. He was talking about money, but he might as well have been talking about the small, steady choices that create a retirement worth living. Your future self will be deeply grateful—having functional knees, a dignified income, and a tattoo they still absolutely love. And when you turn sixty-four, and someone asks how you got there so gracefully, you won't need to channel your inner Shaggy. You just smile and say: It was me! Sue Don’t Retire…ReWire! P.S. Aunt Equity approves. Ready to start retirement maxxing? Here are two things you can do today. Run the future-self test on one financial decision you have been avoiding. Just one. Write down what your seventy-five-year-old self would think of the choice you are leaning toward. You might be surprised what comes up. Move your body and find your people. Join a pickleball club, a walking group, a trivia night, or a bridge league. Laugh often. Sweat occasionally. Your future self needs both, and your colonoscopy technician will be thrilled. Want more insights like this? Subscribe to my free newsletter here, where I share practical strategies, real-world stories, and straight talk about navigating retirement with confidence—not confusion. Plus, all subscribers get exclusive early access to advance chapters from my upcoming book. For Canadians 55+: Get actionable advice on making your home equity work for you, understanding your options, and living retirement on your terms. For Mortgage Brokers and Financial Professionals: Learn how to become the trusted advisor your 55+ clients desperately need (and will refer to everyone they know). This isn't just another revenue stream—it's your opportunity to build lasting relationships in Canada's fastest-growing demographic.

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