Featured Post from Retire with Equity

The Retirement Games

From Sprint to Marathon, The New Retirement Reality.

May 22, 2025

9 min

Sue Pimento

Have you ever dreamed of being an Olympic athlete? Perhaps you have wondered what it would feel like to stand on that podium in front of the world as your national anthem plays. For most Olympic athletes, the journey begins very early in life. But imagine what it would be like if you started training for this event in your 60s? Read on if you want an edge to discover how to win the Retirement Games and still pass the drug test (let’s face it, peeing is not an issue for many at that age)! Here is your chance to get on the podium at the most crucial game of your life.


On Your Marks, Get Set, Ready, Go!


Retirement was more like a coffee break five decades ago—brief, predictable, and over before your muffin cooled. In 1975, the average Canadian could expect to live about 73.53 years. Fast forward to 2025; we're clocking in at nearly 83.26 years. Even juicier? The lastest research shows half of today's 20-year-olds in Canada are expected to live past 90. 


That’s why we need to think of retirement these days, not as a sprint; instead, it’s an ultramarathon with hills, potholes, and the occasional pulled hamstring. Most of us never expected to be training for it in our sixties, but here we are—so pull up your compression socks and move. The starter's pistol is about to fire, whether you're ready or not!


Surprise! You're Retired


While you may dream of selecting your retirement date like a fine wine, many face the reality of a boxed kind instead. Approximately 6 in 10 Americans retire earlier than they planned. Research from the Transamerica Center for Retirement Studies shows that many individuals experience unexpected early retirement due to personal health issues, employer discretion, or family-related circumstances. https://www.cbsnews.com/news/retirement-age-in-america-62-claiming-social-security-early/


Sometimes, it's a health scare, a loved one’s illness, or a harsh employer downsizing. Nobody whispers the term "ageism," but when companies replace senior employees with younger, more affordable talent (or AI bots), it’s not subtle—it’s math.As Morgan Housel reminds us in his bestseller, The Psychology of Money, "The most important part of every plan is planning for your plan, not going according to plan." Expect the unexpected. Train as if retirement could sneak up on you—because it just might.


Get Fit, Stay Sharp: Health is the First Leg of the Race

Physical and mental health are the fuel for your retirement. The rest doesn’t matter without them; we’re not just talking about lifting weights. (Though, yes, lift some weights.) Regular physical activity provides numerous benefits for older adults, including a reduced risk of dementia and enhanced cognitive function. Exercise can help maintain brain health, reduce mental decline, and even reverse some age-related brain shrinkage. Additionally, physical activity can improve mood, reduce anxiety, and enhance balance and coordination, leading to a better quality of life.


• Strength training enhances bone density, metabolism, and mental health. (Source: Mayo Clinic)

• Flexibility and balance? Try yoga or tai chi. Harvard Health says they reduce pain and stiffness.

• Mental fitness? Cue up Wordle, Canuckle (the Canadian cousin), or Sudoku.

• Dancing? It's beneficial for your brain and your swagger 

• Listening to music or playing an instrument can reduce stress and boost memory.


Gold Medal Tip: Motivation is overrated; action is everything. Don’t be a couch potato. A new study conducted at the University of Pittsburgh School of Medicine shows that older adults who spend more time sedentary — such as sitting or lying down — may be at a higher risk for lower cognition and in areas linked to the development of Alzheimer’s disease, no matter how much they exercise! So make sure you show up, move, and the motivation will catch up.



Wealth Training: Stop Hoping, Start Budgeting

Here's a shocker: Retirement doesn't mean your expenses magically disappear. According to Steve Willems' podcast “10 Retirement Myths You May Not Want to Believe,” most retirees don’t spend less. Aside from the mortgage, spending remains surprisingly consistent, especially during the Go-Go years (ages 55-75)”.


We like what we like: groceries, entertainment, travel, and stylish or comfortable clothes are still on our shopping lists. That’s why many of us in retirement will need to pay more attention to spending and budgeting.


Check Obligation Spending


Retirement is the perfect time to reevaluate expenses from obligation rather than genuine need or joy. Here's a thoughtful way to frame that idea:


Retirement is the season of freedom, so why are you still paying for things that feel like a burden?

Now that you’re no longer earning a regular paycheck, every dollar matters more than ever. This means it’s time to take a closer look at obligatory expenses.


These might include:

• Helping adult children financially (even when it stretches your budget)

• Donating to every fundraiser or cause just because someone asked

• Hosting large family gatherings that leave you exhausted and over budget

• Maintaining memberships, subscriptions, or traditions that no longer bring you joy. (We talk a lot more about this in a previous post What’s your Retirement Plan B


While generosity is admirable, it shouldn’t jeopardize your financial security or peace of mind. Retirement should focus on investing in what truly matters to you now, rather than keeping up appearances or adhering to outdated expectations.


Here’s a gentle mantra to adopt: “I’ve earned the right to say no with love and confidence.” Freeing yourself from obligation spending doesn’t mean becoming stingy; it means becoming intentional. Give where your heart feels full, not where your guilt feels heavy. After all, you didn’t work all those years to keep writing checks out of habit.


Balance Beam- Budget


What’s your plan when overtime isn’t an option and the budget doesn’t balance? Start with a good old-fashioned reality check:

• Write down ALL expenses.

• Tally up your income.

• Look for a surplus (yay, trip!) or a shortfall (boo, time to pivot).


Look at Canadian Government Pensions

• Here's the math.  Old Age Security (OAS): Max is about $713/month or $8,556/year. And don’t forget the dreaded government clawback (formally known as the Old Age Security Pension Recovery Tax which starts at ~$90,997.

• Canada Pension Plan (CPP): The average monthly payment is $758, while the maximum is $1,364 per month or $16,368 per year.


So with these two programs combined, provided you meet requirements, as a senior, you're looking at somewhere between $17,000–$25,000/year before tax. If your lifestyle needs a bit more jazz hands, here’s how to bridge the gap:

 

DIY Income Builders:

• Slash debt. Every dollar you don't spend is one you keep.

• Downsize and bank the equity.

• Buy or build an ADU and rent it. I have written more about ADU's here.

• HELOC or Reverse mortgage (borrow strategically).

• Withdraw from investments (4% rule).

• Monetize your skills: consulting, tutoring, or writing that novel you started in 1993.


Gold Medal Tip: Track your joy per dollar. If you’re going to spend, make it worth it.



Rewire, Don’t Retire: Finding Purpose


The biggest myth of retirement? That doing nothing feels good forever. (Spoiler alert: it doesn’t.)

Passion is your GPS. It guides you towards what fills your heart. Whether you write poetry, walk dogs, or paint birds wearing tiny hats, your joy matters. And legacy? That’s just purpose with staying power. There’s science to support the benefits of this lesson. A study in JAMA Psychiatry found that people with a sense of purpose had a lower risk of mortality and disability 


Purpose-Driven Paths:


• Volunteer: Look for a cause that fires you up.

• Get a part-time job: Perhaps you can fill in at a local bookstore, garden center or be a barista?

• Hobbies: Take up painting, pottery, or poetry.

• Go Back to School: Many Universities such as The University of Toronto offer free, non-credit courses through programs as part of their community outreach.  Seniors (over 60) enrolled at York University may have all or part of their academic fees waived at the domestic fee rate for York University degree credit courses as part of their mature student program. 

• Spend real time with people you love, maybe your grandkids or elderly parents.

• Reconnect with old friends – not just on Facebook, but in person

• Get out of your backyard and see the world


Gold Medal Tip: You're never too young (or too old) to chase what lights you up. Start a business, get that degree you always wanted, and write that book. Go. For. It.


Support: No One Trains Alone


Retirement can be lonely. As we age, friends pass, routines fade, and isolation creeps in. That’s why your squad matters more than ever.


Find Your Pod:

• Family & Friends: Set expectations. Ask for help. Host Sunday dinners. Stay connected.

• Fitness & Social Clubs: Join a walking group or participate in a gym class, followed by regular post-sweat coffee.

• Faith Communities: Spirituality and structure in one. Sing in the choir. Serve at events.

• Third Places: As sociologist Ray Oldenburg says, these are neutral hangouts like libraries, community centers, or your local café. They’re tied to lower loneliness and better mental health. Think of Cheers: “Where everyone knows your name!”


Gold Medal Tip: Your local pickleball court or knitting circle might just be your new training ground.

Attitude Training: Stop Acting Your Age

Here’s a radical thought: Maybe we feel old because we act old. Want to stay young? Stay curious, try new things. Try line dancing, pickleball, bird watching, improv, or learning to code. Yes, code.


What was the worst advice our mothers gave us? “Act your age.” Nonsense! Whoever said, “You’re only as old as you feel” was on to something – but let’s take it up a notch: How about you’re only as old as your playlist!


The Power of a Youthful Attitude in Retirement


A successful retirement isn’t just about savings accounts and spreadsheets — it’s about mindset. A positive, youthful attitude is one of the most powerful (and overlooked) assets you can carry into retirement.


Even if you don’t feel youthful or optimistic, “fake it ‘til you make it” is more than just a catchy phrase—it’s a strategy. The goal isn't to accurately describe your aches, fears, or fatigue but to set yourself up for success!


Science backs it up: a positive outlook boosts health, sharpens cognition, and increases longevity. From a practical perspective, optimism makes it easier to try new things, adapt to change, and enjoy the present—all essential in retirement.


So, if the voice in your head says, “I’m too old for that,” try responding with, “This is my time.”

You begin to build because what you tell yourself matters, as does what you believe.

Retirement is your reward. Approach it like the vibrant, capable, unstoppable human you are because attitude, not age, sets the tone.


Gold Medal Tip: You’re only as old as the last thing you tried for the first time. Try something ridiculous, I double dare you!


Final Stretch


The Retirement Games are here, and let me be crystal clear: this isn’t amateur hour. This is your Olympic moment, with medals awarded for stamina, strategy, and a solid sense of humour. Whether you're rounding the first turn at 45 or doing your victory lap at 75, now is the time to train.

You’ve built strength, stretched your budget, flexed your purpose muscle, assembled your dream team, and rebooted your mindset. Now it’s time to lace up, lean in, and live life to the fullest.

This isn’t about perfection; it’s about preparation. You won’t achieve a podium finish through wishful thinking; you’ll attain it through action, adaptation, and a great deal of repetition.

So, put on your metaphorical tracksuit (or actual tracksuit if it's laundry day) and begin training with determination. The gold medal retirement isn’t just possible—it’s within reach.

Cue the confetti cannon. You’re not just aging—you’re advancing. And champions, as we know, don’t retire… they rewire, recharge, and rewrite the playbook.


On Your Marks, Get Set, THRIVE!


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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Research shows that rituals and traditions provide crucial psychological benefits for older adults, including a sense of stability, purpose, and belonging. They offer structure and comfort during challenging times, helping seniors feel grounded and connected to their roots. Studies have found that maintaining traditions contributes to overall mental well-being and can even reduce symptoms of anxiety and depression.  These rituals offer stability in a world that keeps changing at warp speed (seriously, when did voice-activated ornaments become a thing?). But when traditions fade—when no one asks for the shortbread recipe or the ornaments stay boxed—it can feel like being erased in real time. So here's the trick: Evolve the traditions. Pass the torch, not the guilt. Let the grandkids lead carols (even if they insist on adding Mariah Carey). Use the good china. Pull out the silverware stored in the wooden case under the china cabinet that hasn't been opened since 1987. 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For families, it's about showing up, listening, and laughing together. Because one day, those elders' stories will become yours. And you'll want someone to care enough to hear them, too. So let's make this season count. Let's call more, visit more, and laugh more. Let's honor the past while making new memories. And let's remember that the best traditions aren't the ones that stay the same—they're the ones that adapt, evolve, and keep bringing us together. Now pass the eggnog. The spiked kind. Let's All Sit Under the Mistletoe and Sing the Retired Remix of "Jingle Bells" (To the tune of "Jingle Bells") Dashing through the snow, With a walker all in tow, To the mall we go, Moving nice and slow! Family's out of sight, Texting through the night, Oh, what fun it is to Zoom My grandkids once a night—hey! Chorus: Jingle bells, jingle bells, jingle all the way, Oh, what fun it is to chat With friends who won't delay—hey! Jingle bells, jingle bells, laughter saves the day, Lonely hearts can still feel joy— If love just finds a way. Happy holidays, everyone. May your turkey be moist, your family be present, and your eggnog be strong. 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—it's your opportunity to build lasting relationships in Canada's fastest-growing demographic. Sue Don’t Retire…Re-Wire! References & Resources for You or a Loved One On Loneliness and Social Isolation: • U.S. Surgeon General. (2023). Our Epidemic of Loneliness and Isolation: The U.S. Surgeon General's Advisory on the Healing Effects of Social Connection and Community. https://www.hhs.gov/sites/default/files/surgeon-general-social-connection-advisory.pdf • Medicare FAQ. (2024). Loneliness in Seniors Statistics: Combating Social Isolation. https://www.medicarefaq.com/blog/senior-loneliness-statistics/ • Mayo Clinic. (2023). Loneliness and Social Isolation Through the Holidays. https://newsnetwork.mayoclinic.org/discussion/loneliness-and-social-isolation-through-the-holidays/ On Depression and Mental Health: • Kok, R.M., & Reynolds, C.F. (2020). The association between loneliness and depressive symptoms among adults aged 50 years and older: A 12-year population-based cohort study. The Lancet Psychiatry. https://www.thelancet.com/journals/lanpsy/article/PIIS2215-0366(20)30383-7/fulltext • Cigna. (2021). The Loneliness Epidemic Persists: A Post-Pandemic Look at the State of Loneliness Among U.S. Adults. On Traditions and Rituals: • Oregon Counseling. Why Traditions Matter to Mental Health. https://oregoncounseling.com/article/why-traditions-matter-to-mental-health/ • Care365. Maintaining Traditions with Seniors. https://www.care365.care/resources/maintaining-traditions-with-seniors Additional Support: • National Council on Aging. Four Steps to Combat Loneliness in Seniors During the Holidays. https://www.ncoa.org/article/four-steps-to-combat-loneliness-in-seniors-during-the-holiday-and-beyond/ Emergency Services If the situation is urgent or someone is in immediate danger: Call 911. Canada Suicide Prevention Service (CSPS) • Call: 1-833-456-4566 (available nationwide, 24/7) • Text: 45645 (evenings) • Chat: available at 988.ca

4 min

When Markets Wobble (Part 2): How Canadians Can Use Home Equity as Their Ultimate Cash Wedge:

In an earlier post I laid out one of the foundational blocks of your retirement defense system: the "Cash Wedge" - that boring-but-brilliant cushion of cash, GICs, and T-Bills that protects you from selling investments when markets wobble. The Cash Wedge is the mild-mannered superhero of your retirement plan. It buys you time, flexibility, and peace of mind, as it gives you permission to wait for markets to recover—  Now if you missed Part 1, go back and give it a quick read here. For Canadian homeowners — especially those whose wealth is mostly in their property — there are additional options that allow you to use your equity as a second buffer, dramatically strengthening your financial resilience.  How Home Equity Strategies Can Help You Create a Backup Wedge for Retirement Here's the risk that catches thousands off guard: sequence-of-returns risk combined with home equity concentration. Translation: While you own your home, you encounter problematic market conditions early in retirement while withdrawing, and your options narrow quickly. Author Wade Pfau's research demonstrates that home equity can serve as a "buffer asset," shielding investments during economic downturns. Instead of selling investments when markets are down, it might be smarter to temporarily access a pre-arranged HELOC or reverse mortgage. Once markets recover, you can repay the credit line. This isn't debt panic — it's strategic damage control. Warren Buffett's Wisdom Applied to Canadian Retirement As an investor, Warren Buffett is the epitome of control and discipline. His now famous quote rings true in these times. “The stock market is a device for transferring money from the impatient to the patient.” Translation for retirees: Keep dry powder. Own quality investments. Don't chase fads. And stop looking for the bottom — nobody knows where it is until it's in the rear-view mirror. The Canadian "Brick-and-Mortar" Retirement Strategy Listen up, homeowners. Canadians whose retirement plan is pretty much: buy a home, pay it off, and repeat; "we're mortgage-free" with pride. This strategy is very common and effective. But let's be honest: if your home is part of your retirement plan, economic changes matter even more. If you’re in this camp, you need to accept the facts and plan how you'll use your equity to secure your retirement. It’s better to have a ready, aim, fire approach than the more typical fire, ready, aim! When markets decline, central banks often cut rates. Lower rates can support real estate — but they don't guarantee rising prices. Meanwhile, inflation drives up costs, buyers' budgets fluctuate, property values can soften, and retirees feel the impact most quickly. Even a modest dip in home values creates real erosion in net worth when your home carries the bulk of your financial future. The Case for Securing Home Equity Access Now It's much easier to qualify for credit when home values are higher, finances are stable, and you're not already in a pinch. Your options: Home Equity Line of Credit (HELOC) This includes products like Manulife One: Competitive rates and flexible options — but retirees often face income qualification barriers. Reverse Mortgage: No income needed, no payments required. Plus, the No Negative Equity Guarantee — you can never owe more than your home is worth — but retirees dislike debt! HESA (Home Equity Sharing Agreement): You get cash now in exchange for sharing a percentage of your home's future appreciation. No monthly payments, not technically debt, but you give up a share of future gains. This isn't about needing money today. It's about safeguarding your future from having to sell, downsize, or rely on credit card debt because the economy experienced a mood swing. It's insurance — with a door handle. Building Your Cash Wedge: Step-by-Step Calculate 12–24 months of living expenses. Select where to store each layer (high-interest Savings Account, cashable GICs, T-Bills). Refill the wedge with income from dividends, distributions, or planned draws Monitor your situation closely.  If your income is tight: consider arranging a home-equity line or reverse mortgage as a backup wedge - not an emergency scramble. Review annually — cost of living changes, inflation changes, and so should your wedge. The Bottom Line for Canadian Retirees The real question isn't "Do I need a Cash Wedge?" It's "Can I afford NOT to have one?" Retirees have limited capacity to earn income to cover shortfalls. Budgets can tighten unexpectedly. Inflation doesn't seek permission. And sometimes the thing we think we'll never need becomes the lifeline that secures our retirement. Your retirement security comes from: Owning quality investment Building reliable dividend income Preparing smart home-equity backstops Keeping emotions out of financial decisions Avoiding saving too much while living too little The Cash Wedge is the most boring tool in your retirement plan — and the most powerful. Yet most financial plans ignore it.  Don't. 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.

4 min

The Retiree's Guide to Market Volatility: Building Your Financial Safety Net with a Cash Wedge Strategy

Let's get one thing straight: the stock market doesn't care that you're retired. It doesn't care that you finally cleaned out that drawer full of ancient T4 slips, promised yourself you'd stop checking your RRIF balance daily, or told your spouse, "This year, we're sticking to the plan." The Market Doesn't Care About Your Retirement Date Markets wobble because they wobble. Headlines panic. Analysts disagree sharply — and confidently. And somewhere, a retiree stands in front of the fridge, wondering whether to sell everything or simply turn off the news. But retirement isn't a day-trading contest; it's a decades-long longevity project. The aim is to generate reliable income, maintain sleep-at-night discipline, and avoid the common mistake among retirees of saving too much while living too little. Your Retirement Income Defense: Sectors That Weather Any Storm Read the news, and you'll see a constant blizzard of rising prices created by our neighbours to the south. Not just little price increases, but if economists are right about what we can expect, it's best to “inflation-proof” yourself - before you need it.  But keep in mind, every downturn follows the same pattern: a few key sectors keep humming while everything else goes through a mild identity crisis. The Classic Defensive Trio for Canadian Retirees: Consumer Staples (groceries, household essentials) Utilities (keeping the lights on and heat up) Healthcare (aging doesn't pause for recessions) Research on past downturns shows these sectors experienced significantly smaller losses than the S&P 500 during selloffs. When markets tantrum, these industries act like the sensible cousin who says, "We'll get through this. Have a muffin." Canadian-Specific Additions: Telecoms (we'll cut many things, but not Wi-Fi) Pipelines (fee-for-service revenue, though rate-sensitive) Combine these with low-volatility or dividend ETFs, and your portfolio suddenly feels less like a roller coaster and more like a slow-moving Via Rail train: reasonably steady, unfussy, and you still get to where you're going. The Cash Wedge: And Why You Need One Think of your retirement plan as a three-layer cake: Long-term investments (stocks, dividend ETFs, balanced portfolios) Intermediate safety assets (short GICs, T-bills, high-interest savings) Cash you can actually live on (your wedge) Your Cash Wedge sits at the very front of the line — a 12–24-month cushion of living expenses held in stable, boring, absolutely-not-newsworthy places: High-interest savings accounts Short-term GICs Treasury bills Cashable deposits It's essentially the "dry powder" you need to ride through market volatility without panic-selling. Three Critical Risks Your Cash Wedge Protects Against 1. Sequence-of-Returns Risk in Early Retirement This is the risk that markets drop early in your retirement while you're withdrawing. It's the silent killer of portfolios. A cash wedge buys you: Time for dividends to arrive Time for markets to recover Time for calm to return 2. Emotional Decision-Making During Market Downturns When markets fall, too many retirees experience "sell-and-suffer syndrome": They sell low Lock in losses Delay recovery Reduce the lifespan of their savings 3. Portfolio Depletion at Critical Moments Without a cash wedge, every withdrawal during a downturn digs a deeper hole. With a cash wedge, withdrawals can pause while investments rebound. "Think of a cash wedge as retirement jiu-jitsu — using stability to neutralize volatility." How to Calculate Your Ideal Cash Wedge Size There's no magic number, but here's a practical framework: 12 months of essential expenses for retirees with pensions or steady income sources 18 months for those relying heavily on investments 24 months for anyone highly risk-averse or aging in place on a fixed budget This isn't a pile of cash sitting in a chequing account — it's a structured, laddered buffer. Why Canadian Retirees Often Resist Building a Cash Wedge I've heard all of these comments over the years from many retirees: "Cash earns nothing." Not true anymore — HISAs and T-bills offer competitive yields. "I don't want my money sitting around doing nothing." It isn't doing nothing — it's protecting your future income. "I've always been fully invested." Retirement changes the rules. What worked during the accumulation phases of retirement can be dangerous during deaccumulation. The Cash Wedge is not an investment strategy. It is an income preservation strategy — the most important one in retirement. Real-Life Example: The 2020 Market Crash Test Remember 2020?  Stock markets dropped nearly 35% in just weeks. Let's consider two couples with similar assets: Couple A : had a 2-year cash wedge Couple B : had none Couple A simply shifted withdrawals from their wedge, not their portfolio. Couple B sold their best assets at their worst prices — causing permanent damage. This is why I tell retirees: "The Cash Wedge protects your portfolio from you." It’s 12–24 months of living expenses kept in cash, high-interest savings accounts (HISA), short-term GICs, or T-Bills. It's not exciting. No one flaunts a 6-month GIC at brunch. But the emergency fund prevents disaster: selling investments at the worst possible time. It buys you time. It buys you calm. It buys you the uninterrupted ability to buy groceries. The Cash Wedge alone is powerful. But for Canadian homeowners — especially those whose wealth sits mostly in their property — there’s a second buffer that can dramatically strengthen your financial resilience: your home equity.  We'll explore that in Part 2 of this post tomorrow.  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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