Good morning. The decisions you make with your retirement savings have real consequences, and getting them wrong can cost you. Today we're covering 3 moves that could make a real difference.
On The Money Today:
A mortgage or more invested: the answer depends on your rate, your timeline and how close retirement really is
The withdrawal sequence most Canadians get wrong and how to keep more money away from the CRA
How a $250,000 retirement loss unfolded on WhatsApp and the steps that could prevent it from happening to you
Let's get into it.
If you're 49 with $300K saved and $180K left on your mortgage, the answer isn't as straightforward as the math suggests. The right move hinges on your rate, your timeline and how your TFSA and RRSP factor in — here's what financial planners say before you decide.
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When it's time to start withdrawing, the order you take money out matters just as much as how much you saved. Pull from the wrong account at the wrong time and you could trigger a higher tax bracket, lose income-tested benefits or face forced RRIF withdrawals you weren't ready for. Here's the sequence that keeps more money in your pocket.
Derek's parents did everything right — worked full careers, lived modestly and built a retirement nest egg they planned to live on. Then his father wired $250,000 to a stranger on WhatsApp and the plan fell apart. Investment scams cost Canadians $351 million in 2025 alone, and those over 60 absorbed 40% of all fraud losses. Here's what to do now.
MONEY IQ
What percentage of fraud incidents in Canada are estimated to go unreported?
ALSO MAKING THE ROUNDS TODAY
RETIREMENT: A finance coach built a $757K path to financial freedom and here's how Canadians can copy the strategy
INVESTING: Jamie Dimon says Carney's middle powers plan is a 'fantasy' and your portfolio could feel it
MONEY IQ - ANSWER
Answer: D) 90% to 95%. According to Statistics Canada cited by the RCMP, only 5% to 10% of fraud incidents are ever reported in Canada, meaning the $704 million in losses recorded by the CAFC in 2025 represents only a fraction of the true harm.
That's a wrap for today! Before you go, we'd love to know what you thought of today's newsletter. Hit REPLY if you have more to share — we read every reply.
