Featured Post from Retire with Equity

How a Fraudster Almost Stole Graceland

This caper shows homeowners can't be too complacent about fraud

Mar 6, 2025

5 min

Sue Pimento

In a recent case that left many “All Shook Up," a Missouri woman attempted to defraud the Presley family by claiming ownership of the iconic Graceland estate. Most stories involving “The King” make for good reading, and they also hold an important lesson for homeowners. This bold scheme is a stark reminder that fraud knows no boundaries—whether you live in a mansion or a modest home, fraudsters can and will target anyone.


The Graceland Fraud Attempt


Lisa Jeanine Findley, a 53-year-old from Missouri, orchestrated a plan to defraud Elvis Presley’s family of millions by attempting to claim ownership of Graceland. She falsely alleged that Lisa Marie Presley had used Graceland as collateral for a $3.8 million loan that remained unpaid at the time of her death in 2023. To support her claims, Findley fabricated loan documents and filed fraudulent foreclosure notices, threatening to auction the estate if the supposed debt wasn’t settled.

Riley Keough, Lisa Marie’s daughter and heir to Graceland, challenged these claims in court, asserting that no such loan existed and labeling the foreclosure attempt as fraudulent. The court sided with Keough, blocking the sale and prompting Findley to withdraw her claims. Subsequently, Findley was arrested and charged with mail fraud and aggravated identity theft. She pleaded guilty in February 2025 and faces up to 20 years in prison, with sentencing scheduled for June 18, 2025.


Lawrence v. Maple Trust - A Canadian Fraud Attempt


Closer to home, in 2006, Toronto homeowner Susan Lawrence fell victim to a similar scheme. Fraudsters transferred the title of her fully paid-off home into their names and registered a fraudulent mortgage with Maple Trust. Lawrence only discovered the fraud when she attempted to access her home equity.


After an initial ruling forced her to bear the mortgage debt, she appealed. The Ontario Court of Appeal reversed the decision, ruling that the lender should bear the loss, not the innocent homeowner. The case took nearly two years to resolve and cost Lawrence an estimated $50,000 to $100,000 in legal fees—not to mention the emotional and financial stress.


Lessons for Homeowners about Fraud

This case highlights several critical lessons for homeowners:


1. Be Vigilant Against Fraudulent Claims: If fraudsters can attempt to steal Graceland, they can target your home too. Monitor your property records for unauthorized changes.


2. Don't Divulge Sensitive Information: Fraudsters can use social engineering tactics to piece together important information you share and use it to forge or alter property ownership records etc.  Be careful with what you share, especially with strangers.


3. Regularly Monitor Property Records: Periodically checking public records for any unauthorized liens or claims against your property can help detect and address fraud early.

Online credit reporting services such as Credit Karma offer free apps and email alerts that can help you spot potential fraud.


4. Beware of Contracts: Watch out for deceptive practices employed by certain rental companies, leading to unexpected financial obligations and complications. Using deceptive, high-pressure sales tactics, these companies can leave homeowners burdened with property liens after signing contracts for appliances like furnaces, air conditioners, and water heaters. If you are faced with this, don't rush the process.  Do some additional research and/or take the next step below.


5. Consult Legal Professionals: If you are pressured to sign a contract, receive dubious claims, or receive foreclosure notices, seek advice from qualified legal professionals to navigate the situation effectively.


4. Secure Title Insurance: Title insurance protects homeowners against potential defects in the title, including fraudulent claims. It’s a crucial safeguard that can prevent significant financial loss.


Let’s unpack this last point about Title Insurance.


What is Title Insurance: Your Best Defence


Title insurance is a safeguard for homeowners, protecting them against potential issues related to the ownership of their property. This insurance ensures that the homeowner is shielded from financial loss if any unforeseen problems with the property’s title arise. Title insurance is a policy that protects property owners and lenders against financial loss resulting from defects in a property’s title. These defects can include unknown liens, encroachments, zoning violations, or even fraud that may have occurred before the homeowner acquired the property. Unlike other insurance types that cover future events, title insurance addresses past events that could affect property ownership.


Why is Title Insurance Necessary?

Purchasing a property is often the most significant investment individuals make. Title insurance provides peace of mind by ensuring the property’s title is clear and free from unforeseen issues. Without this protection, homeowners could face legal disputes or financial losses if a problem with the title emerges after the purchase. For instance, if a previous owner’s unpaid taxes or undisclosed heirs come forward claiming ownership, title insurance would cover the legal fees and potential losses associated with resolving these issues.


The Cost of Title Insurance in Canada

In Canada, the cost of title insurance varies depending on factors such as the property’s value and location. Typically, premiums for residential properties range from $250 to $500. However, the cost can increase for higher-valued properties. This premium is a one-time payment made during the closing process and remains valid for as long as the homeowner owns the property.


Providers of Title Insurance in Canada

Several reputable companies in Canada offer title insurance. Some of the prominent providers include:


Please note:  None of the providers above are sponsored links.


How to Check if You Have Title Insurance

If you’re uncertain whether you have title insurance, consider the following steps:


1. Review Your Closing Documents: Examine the paperwork you received during the property’s purchase. Look for any mention of title insurance policies.

2. Contact your real estate lawyer: The legal professional who helped with your property purchase should have records showing whether title insurance was obtained.

3. Contact Title Insurance Providers: Most Title Insurance companies maintain issued policy records. Contacting them directly can help confirm whether a policy exists for your property.


Homeowners Without a Mortgage: A Higher Risk Group


If you’re a homeowner who owns their property outright, you can be at a higher risk concerning title-related issues. Why? Fewer parties (such as lenders) monitor the property’s status when no mortgage is in place. By contrast, when a mortgage is involved, most lenders today, as a rule, require title insurance to protect their investment, indirectly safeguarding the homeowner as well. However, some homeowners might overlook obtaining title insurance without a lender's mandate. This leaves you more vulnerable to potential title defects or fraudulent claims against your property.


Real estate fraud is not a problem reserved for the wealthy—any homeowner can become a target. Securing title insurance and staying vigilant is the best way to protect your property and your financial future.  

It's such an important topic, I'll be sharing more tips on title insurance in future posts.  After all, as Elvis might say, “What I say is true; if it could happen to the King, it could happen to you.”


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

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6 min

Carney Cares. The Tax Code Doesn’t.

Retirement analyst and author Sue Pimento looks more closely at the just-announced "Canada Groceries & Essentials Benefit Program" in the broader context of the country's overall tax-and-benefit system. A closer analysis of steep GIS clawbacks layered on top of taxes shows that some seniors face tax rates comparable to those of the country's highest earners. Pimento argues that we should address this “participation tax” to ensure seniors earn more without being penalized for their work. Prime Minister Mark Carney just announced the Canada Groceries and Essentials Benefit. The intent is good. The relief is welcome. The tax code, however, did not get the memo. Important Disclaimer (Please Read) This article is for educational and discussion purposes only and does not constitute financial or tax advice. Canada's tax and benefit system is complex, highly individualized, and subject to frequent changes. Before making any financial or tax decisions, consult a qualified professional familiar with seniors' benefits, including GIS, OAS, CPP, and related clawbacks. Now that we've cleared that up, let's talk… Here’s a quick overview of what was announced. What the Canada Groceries & Essentials Benefit Program Covers Bigger Benefit Cheques: About 12 million Canadians will receive relief. Food Bank Relief: $20 million to food banks through the Local Food Infrastructure Fund. Food Supply: Immediate expensing for greenhouse buildings to bolster domestic production. Food Security: A national strategy including unit price labelling and enforcement by the Competition Bureau. Business Support: $500 million in supply chain support to help businesses absorb costs rather than passing them on to consumers. These ideas aren’t bad. Some are very sensible. Taken together, the Government estimates in its announcement that these measures would "provide up to an additional $402 to a single individual without children, $527 to a couple, and $805 to a couple with two children. They go on to say that at these levels, Canada’s new government will be offsetting grocery cost increases beyond overall inflation since the pandemic." On paper, this looks helpful. Unfortunately, paper has never had to buy groceries. But… You knew there was a “but” coming. Government announcements are legally required to include one. A Little-Known Tax Reality That Makes You Shake Your Head New research shows Canada's tax-and-benefit system disadvantages low-income seniors who work. The issue? It's hidden in the tax code. On January 28, 2026, a Zoomer Radio Fight Back discussion hosted by Libby Znaimer highlighted the issue. Guests included: • Gabriel Giguère, Senior Policy Analyst, Montreal Economic Institute • Jamie Golombek, Managing Director, Tax & Estate Planning, CIBC Financial Planning & Advice Their conclusion? Canada's tax system discourages low-income seniors from working exactly when they need income the most. Many seniors discover (usually the hard way) that a small side hustle doesn't always pay off. It can lead to higher taxes and benefit clawbacks. Work a little more, and Ottawa takes a lot more. Why Seniors Are Still Working Because the math doesn't add up. Either way. More than 600,000 older adults live below the poverty line. Meanwhile, rent, food, utilities, insurance, and property taxes are increasing faster than pensions ever did. More seniors are employed, particularly GIS recipients. MEI analysis indicates that GIS recipients with work income increased by 56% from 2014 to 2022, rising to 64% among those aged 65–69. These seniors aren't working for "fun money." They're working to keep the lights on and purchase medication. Reviewing the details reminded me of a long-standing issue in my research on income and cash flow for Canadians aged 55 and over.  Many Canadians can’t make ends meet and are forced to work well past 65. Yet Canada’s tax system punishes low-income seniors for working—exactly when they need income most. To understand why, we need to look at the Guaranteed Income Supplement. The Guaranteed Income Supplement (GIS) Program for Low-Income Seniors Here's how the GIS benefits work: • A non-taxable monthly benefit on top of Old Age Security for low-income seniors. • Roughly one-third of OAS recipients also receive GIS—over 2 million Canadians. • For a single senior with no other income, the maximum annual benefit is about $13,000. (Source: Government of Canada GIS website) The program has done meaningful work. Combined with OAS, CPP, and private pensions, Canada dramatically reduced senior poverty over the past half-century. But there’s a catch hiding in the design. Think of GIS as a hug that tightens when you try to stand up. The GIS Clawback Problem for Canadians GIS recipients can earn only $5,000 per year in employment income before clawbacks begin. After that, GIS takes back 50 cents of every dollar earned—before income tax and payroll deductions. A partial exemption applies to the next $10,000, where 25–37.5% is clawed back. The program helps seniors—right up until they try to help themselves. How the GIS Clawback Works Against Working Seniors Let me illustrate this. Meet Agnes.  She is about to learn more about marginal tax rates than any bookstore employee should.  Agnes is 70, lives alone, and receives OAS and CPP. Rising costs push her to take a job at a local used bookstore. She works about 15 hours a week at roughly minimum wage. Here annual gross employment income is about $13,000 Here’s what happens: • Her employment income triggers GIS clawbacks once she exceeds $5,000. • She pays income tax, CPP contributions, and sometimes EI premiums. • Between taxes and clawbacks, much of her earnings disappear. Simple version: Agnes works more hours but keeps far less than expected. When you keep 20 cents on the dollar, even capitalism looks confused. Agnes didn’t go back to work for the thrill of alphabetizing mystery novels. She did it to afford her prescriptions. A Canadian Tax System That Punishes the Wrong Thing If we’re going to test income, test investment income. Fine. Tax it. But employment income? Showing up? Working? The system treats that like misconduct. Once you add income tax, CPP contributions, and the loss of other credits, low-income seniors can face effective marginal tax rates of 70–80% on modest earnings. Nothing says “fairness” like taxing a bookstore clerk harder than a boardroom executive. As Gabriel Giguère of the Montreal Economic Institute has noted, "this level of taxation normally applies to wealthy Canadians—not seniors living in poverty."  In a well-researched economic brief, Giguère and Jason Dean, Assistant Professor of Economics at King’s University College at Western Ontario, present a compelling argument for policy change.   This comment by Giguère and Dean nicely sums up their key findings:   "For various reasons, including insufficient pensions to maintain their living standards, seniors are increasingly turning to work. Yet the current tax-and-benefit system merits reform as it undermines their efforts, with the harshest effect on low-income seniors." One-Time Credits Don’t Fix Structural Problems At Davos, Mark Carney famously said, “Nostalgia is not a strategy.” Fair point.  So why does our benefit system still behave as if retirement lasts ten years and ends with a gold watch? The system still thinks retirement lasts ten years and includes a gold watch. People are living longer. Many will spend 25 to 30 years in retirement. Some want to work. Many need to. A grocery credit helps. But a broken incentive structure still breaks people. Common Sense Tax Solutions the Canadian Government Should Consider 1. Raise the GIS earnings exemption The Montreal Economic Institute recommends raising it to around $30,000. Estimated cost: $544 million annually. Modest relative to the program’s size. 2. Exempt employment income from GIS clawbacks (at least partially) Keep testing investment income. Stop penalizing work. 3. Rethink retirement assumptions Policy built around “retire at 65 and earn almost nothing” no longer matches reality. None of these ideas are radical. They’re just… current. What to Ask Your Accountant About Your Tax Rate Get professional advice. Not generic advice. Not from Google. Not from your unemployed nephew. Ask specifically about: • Pension income splitting • Strategic RRSP contributions • Consulting or corporate structures where appropriate • Creative but compliant barter arrangements • CPP and OAS deferral strategies • Documentation. Lots of documentation. When clawbacks are involved, paperwork is your lifeboat. A Short, Honest Take Grocery relief is appreciated. The intent is good. But until Canada fixes a tax system that punishes low-income seniors for working, affordability will remain fragile. This isn’t about blame. It’s about aligning incentives with reality. Right now, it feels like we’re helping seniors swim by handing them bigger life jackets—while quietly drilling holes in the boat. And yes… I need to lie down. I feel another blog coming on. Apparently, exercising this much common sense counts as cardio. Sue Don't Retire...Re-Wire! Want more of this? Subscribe for weekly doses of retirement reality—no golf-cart clichés, no sunset stock photos, just straight talk about staying Hip, Fit & Financially Free.

6 min

Baby, It's Cold Outside… And That's No Joke for Seniors

How cold is it? • It's so cold I saw a dog stuck to a fire hydrant. • It's so cold my words froze mid-air and my neighbour had to thaw them out to hear what I said. • It's so cold, I just saw a politician with his hands in his own pockets. Okay, I'm joking—but just a bit. Because while I enjoy a good cold-weather quip, hypothermia isn't funny.  Currently, this severe Arctic blast is gripping Canada and large parts of the United States, dropping temperatures 20–40°F (11–22°C) below seasonal norms across a 2,000-mile stretch of North America. Nearly 80 million people are under winter storm warnings. Power outages are anticipated. Roads could be impassable. Travel is about as appealing as a root canal in a snowstorm. For many seniors on both sides of the border, this isn't just an inconvenience—it's a real safety risk. The Cold, Hard Stats (Brace Yourself) Looking at the research I couldn't believe what I found: Older adults are more than 5x as likely to die from hypothermia as younger adults (Kosatsky et al., 2015). In the U.S., approximately half of all hypothermia deaths are people over 65 according to data from the CDC. In Canada, adults over 75 are more than 5 times more likely to die from hypothermia than younger adults—and 87% of those deaths happen right in their own homes. (StatsCan Health Infobase ) Read that again. Slowly. Not on frozen lakes. Not stranded on highways. Instead, in familiar living rooms. Sitting on well-worn couches. Beneath afghans crocheted by someone who loved them. Why Your Body Becomes a Cold -Weather Traitor Our bodies change as we age, and not in the fun "I've earned every wrinkle" way. The insulating fat layer under the skin thins. Circulation slows. Metabolism drops like your interest in small talk. Certain medications—prescription and over-the-counter cold remedies—can interfere with temperature regulation and awareness. Your body's thermostat? It's on the fritz. Here's the math: Hypothermia doesn't require a blizzard. It can begin indoors when temperatures fall below 65°F / 18°C. And here's the truly dangerous part: hypothermia affects the brain first. Judgment declines before shivering becomes severe. You don't realize you're in trouble. You just feel "a bit chilly" while your core temperature quietly drops. Stop Acting Your Age! (But Also... Dress as if you know your age) I'm all for embracing life at every stage—hiking to Everest Base Camp at 60-something, teaching Zumba, and that MBA thing at 70, refusing to "act your age." But embracing life in this weather requires wisdom, not bravado. Cold weather brings real risks: • Slips and falls on icy surfaces (and no, we don't bounce like we used to) • Increased risk of heart attack and stroke because cold thickens the blood • Respiratory infections that linger far too long • Frostbite on fingers and toes • Hypothermia that clouds thinking before any alarms sound. The Indoor Survival Guide—Keep Up (Yes, You Can Get Hypothermia at Home) Set the thermostat to at least 68–70°F (20–21°C). This is not a time to be a miser.  Heating bills can be expensive, but hospital stays are even more costly. And they don't even give you warm blankets anymore. Layer like a pro. This is not the time for fashion minimalism. Think: • Long underwear or thermal leggings • Pyjamas under clothes • Stockings or tights under pants • Two pairs of socks • Warm boots with good tread (essential for any outdoor ventures) • Shirts layered under sweaters When it's this cold, if you still own leg warmers—congratulations. Wear them. The warmth is worth the call from the '80s asking for them back. Hats indoors are permitted. This isn't a fashion show; it's survival style. You lose a lot of body heat through your head. Emulate your inner Elmer Fudd if you need to. Carbon monoxide alarms are essential & in many areas legally required.  When temperatures drop, people get creative—and desperate. Space heaters, fireplaces, generators, kerosene heaters, or (please, dear God, don't) using gas ovens for heat. That last one is about as safe as texting while skydiving.  And here's an important PSA: Starting January 1, 2026, Ontario's updated fire code mandates a functioning carbon monoxide alarm on every level of homes that have fuel-burning appliances. Remember to test alarms when you change your clocks for daylight saving time—it's easy to do, and not easy to forget. Block drafts like you're defending a castle. Roll towels under doors, seal windows, close unused rooms, open curtains during sunny days, and close them tightly at night. Check your medications. Ask your pharmacist or doctor if any prescriptions or over-the-counter remedies influence temperature regulation or alertness. Knowledge is power—and warmth. Check Food & Other Supplies. If venturing out feels risky, order groceries for delivery. Services like Voilà by Sobeys, Instacart, PC Express, and many local grocers deliver directly to your door.  This isn't laziness—it's smart risk management. Most delivery services are free or inexpensive, especially when compared to the alternative: icy sidewalks, falls, broken hips, or getting stranded in extreme cold while wearing inadequate footwear because "it's just a quick trip." Clear Your Snow. Snow and ice hinder movement. Limited movement results in isolation. Isolation worsens depression and cognitive decline.  Clear snow isn't just about safety—it's about dignity. Pro Tip: Protect Your Pipes (and Your Wallet).  Winter power outages can mean burst pipes and serious water damage. If you expect a prolonged outage: • Know where your main water shut-off is • Turn it off • Open faucets to drain the lines It feels extreme—until it doesn't. Until you're standing in three inches of water at 2 a.m., wearing your emergency leg warmers. Know or Live Near an Older Adult?  Here's Your Cold Weather Action Plan Don't ask if they need help—just do it. Clear the porch. Shovel a path. Salt the steps. Think of it as the winter cousin of snow angels: shovel angels. Be one! When people Are Shut In—Go check in with them. For those stuck indoors, reach out by video, not just text or voice. Seeing someone tells you far more than hearing "I'm fine." Use FaceTime, Zoom, WhatsApp, or Google Meet. Do this with older people you know.  Because pride prevents people from asking for help. Shame prevents people from being honest—about empty fridges, sleeping in mittens, or wearing coats to bed. Look for these signs: • Confusion or slurred speech • Shivering—or lack of it (paradoxically dangerous) • Pale or bluish skin • Slow movements or lack of coordination • Extreme fatigue Know When to Call for Help If something feels off, err on the side of safety. In Canada: • Telehealth Ontario: 1-866-797-0000 • Quebec: 811 • Other provinces: Know your local health line If you notice any signs of distress—confusion, chest pain, shortness of breath, severe cold exposure—or if you're unsure, call 911. Cold-related emergencies escalate rapidly. The Culture Shift We Need—Right Now Cold snaps reveal faults in our systems and communities. This is the time to foster a check-in culture: a call, a knock, a cleared walkway, groceries dropped at the door. Preparation matters. Connection matters more.  Winter is temporary. The habits we build to take care of one another are not. Be cool—and stay warm out there, friends. Sue Don’t Retire… Rewire! What are your best winter safety tips? Share them—because staying warm is better when we do it together. Want more of this? Subscribe for weekly doses of retirement reality—no golf-cart clichés, no sunset stock photos, just straight talk about staying Hip, Fit & Financially Free.

6 min

CPP, OAS, and the Retirement Timing Tango — The Most Important Dance of Your Life

You’ve been contributing to it your whole life—now let’s get it right. Every retiree dreams of mastering one crucial dance: the Retirement Timing Tango. And here’s the truth—next to good health, guaranteed, predictable income (GPI) sits at the top of every retiree’s wish list, mind list, and need list. Enough income opens the door to independence, autonomy, dignity, and the most sought-after prize of all: aging in place. Not enough income? That will rob you of sleep and enjoyment, creating a non-stop loop of 3 a.m. worry sessions that no melatonin can fix. A badge of a successful retirement starts with enough income to meet all your obligations. This matters far more than leaving an inheritance or making sure your ungrateful nephew gets the cottage. But here’s the thing about this particular tango: you need proper footwear. Orthopedic dance shoes, folks. Not slippers. Not boots. And definitely not Crocs (no shade here). Think support, stability, and a sole that won’t let you down over a long retirement. Here’s the sobering reality: 61% of Canadians fear running out of money in retirement. Women experience this anxiety even more—66% compared to 56% of men (CPP Investments, 2024). Meanwhile, 57% of working Canadians feel unprepared for retirement, and 13% don’t believe they’ll ever retire at all (HOOPP, 2024).  Many overlook this, but two powerful government programs—the Canada Pension Plan (CPP) and Old Age Security (OAS)—can form the foundation of retirement income. The CPP fund holds over $675 billion in assets and is expected to remain sustainable for at least 75 years. Nearly three in four Canadians depend on it. The key is timing. Get it wrong, and you could leave serious money on the dance floor. Get it right, and your decisions could result in over $100,000 more in lifetime income. That’s not small change—that’s peace of mind. Think of CPP and OAS as your retirement dance partners—two leads working together to keep you steady and confident. But timing is crucial. When you decide to claim these benefits can mean the difference between a smooth glide across the dance floor and a financial stumble. How Much Money Do OAS and CPP Pay Out? Canadian Pension Plan (CPP): The maximum CPP retirement pension at 65 is $1,433 per month, though most Canadians receive between $830 and $899 based on their contribution history. Old Age Security (OAS): Payments for OAS are up to $740 monthly for ages 65–74 and $999 monthly for those 75 and older—these benefits can support your retirement if used strategically. You cannot start OAS before age 65. How to Calculate Your OAS Monthly Benefit The maximum monthly OAS payment for someone aged 65 to 74 is around $740–$742 per month in 2026, assuming you qualify for the full amount and do not have a clawback due to high income. If you defer OAS till Age 70, the monthly payments increase. Here's the formula. For each month you defer past age 65, your monthly OAS pension increases by 0.6%. That’s 7.2% per year. Over 5 years (age 65 → 70), this adds up to a maximum increase of 36%. Note: There’s no additional benefit to waiting past age 70; the 36% maximum applies at age 70. The Monthly OAS amount you receive depends on a Number of Factors: The age you start receiving benefits (see above) Your residency history in Canada (minimum of 10 years after age 18 to qualify; to reach the full payment amount generally requires 40 years). Income can reduce or eliminate your OAS benefit, even if you defer, due to an income-related “clawback”. Please note these amounts are subject to change. For updates, check the Government of Canada website here. Let’s be crystal clear: CPP and OAS are not handouts CPP is your deferred earnings—your money, matched by your employer. OAS is your citizens’ dividend, earned through residency in Canada. As Grant Roberts, CFP, a financial planner with the accounting firm Welch LLP, says, “OAS is a security blanket. Society is better when people aren’t impoverished at the end of life.” Lose the stigma. You earned this. This is where the choreography becomes tricky. You must make lifetime decisions without knowing how long you'll live (fun, right?). According to Statistics Canada, a 65-year-old Canadian can expect to live another 20 years on average, and if you’re already 65 in good health, your personal runway might be even longer. Taking CPP at 60 lowers benefits by 36%. Waiting until 70 increases benefits by 42%. Using average benefits, deferring can result in more than $100,000 extra in lifetime income. If you live long enough. Fred Vettese, a former chief actuary of Morneau Shepell (now Telus Health) and a national thought leader on retirement issues who has published the bestseller, Retirement Income for Life (ECW Press) has some important insights to share on how age impacts these OAS and CPP payouts.  Vettese explains, “Approximately 75% of people win by deferring CPP to age 70 because they live past the break-even point.” His research indicates that about 75% of retirees benefit from delaying CPP until 70, while around 25% do not. Most people underestimate their longevity, but the odds are actually in favour of living long enough for the deferral to pay off. This is where inaction becomes dangerous. As Grant Roberts warns, “Inaction isn’t neutral—it’s a decision by default. While CPP does not start automatically at 65, OAS generally does for most people. The government won’t call to ask if you want to delay OAS for a higher payment—or remind you to apply for CPP at all. You have to ask, and you have to act.” And this isn’t theoretical. Roberts has seen seniors in their 70s who had never started CPP, simply because no one told them they had to apply. We’ve spent our entire adult lives being trained to save, so it’s unreasonable to think we can just flick a switch and suddenly become confident spenders the day we retire. As Grant Roberts puts it, “We teach saving for 50 years—no one teaches spending.” So here’s the real question: what’s your money brand? Saver? Spender? A hybrid in sensible shoes? Retirement requires a rebrand. Lifelong savers often need permission to spend—on experiences, joy, and yes, even dance lessons. Lifelong spenders may need to learn how to waltz with a budget (spoiler alert: let the budget lead). Either way, retirement isn’t about changing who you are—it’s about adjusting your rhythm so your money finally works for the life you’re living now. What About OAS Clawbacks? If your income exceeds about $90,000, the OAS clawback is 15 cents for every dollar. OAS clawbacks often discourage people unnecessarily. As I always say, "don’t let a dime stand in the way of a dollar." Strategic RRSP withdrawals between ages 65 and 70 can greatly reduce future clawbacks and enhance long-term results. This is choreography, not chaos. CPP and OAS planning should begin in your 50s, not at 64½. Ask yourself whether you intend to work past 65, whether you’re healthy enough to delay, and what income sources will fill the gap. Waiting for someone else to lead this dance is a sure way to step on your own toes. Proactively Managing Your OAS and CPP Benefits While most Canadians are automatically enrolled for Old Age Security (OAS) and will receive an enrollment letter around their 64th birthday, you may need to take action if you want to delay your start date to receive higher monthly payments. If you wish to delay, change your start date, or correct any information in your enrollment letter, you'll need to contact Service Canada directly. You can manage these choices in one of three ways: Go Online: Visit "My Service Canada Account" By Telephone: Call 1-800-277-9914 In-Person: Visiting a Service Canada Centre near you Don't assume automatic enrolment means the timing is right for you—review your options carefully, as the decision to delay could significantly increase your retirement income. The Last Dance (Remember the Poorly Lit High-School Gym?) Because the Retirement Timing Tango isn’t a sprint—it’s a 30-year dance marathon, and you are both the dancer and the charity you’re raising money for. CPP and OAS, timed well, aren’t about financial flash; they’re about stamina, balance, and staying upright long after the music changes. Get the timing right and your later years won’t feel like a frantic scramble under flickering gym lights—they’ll feel like a slow, confident final song where you know the steps, trust your footing, and aren’t worried about collapsing halfway through. That’s the point. Not just surviving retirement, but staying on the floor until the very last dance—with dignity, confidence, and enough income to enjoy the moment instead of counting the minutes until it’s over. Sue Don’t Retire… ReWire! Know someone who’s about to leave serious money on the dance floor? Forward this blog before the music stops. Consider it a public service announcement disguised as friendship. And if you want regular doses of retirement clarity, confidence, and choreography (no leotards required), subscribe here.

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