Good afternoon! Money has a funny way of rewarding people who keep an eye on the calendar and punishing the ones who don’t. Today is about the dates and deadlines that decide how much of your money you actually get to keep.
On The Money Today:
Why the three years before CPP decide whether retiring at 57 works
The Oct. 30 cutoff that could cost you up to $1,800 in unclaimed rebates
How starting early turns one boring habit into a million-dollar retirement
Let's dive in.
RETIREMENT
Canadians say they need $1.7M to retire. Can $650K get you out at 57?
If you’ve ever pictured handing in your notice before 60, the real question is what pays the bills until the government cheques start. One 57-year-old with $650K in an RRSP wants out now, facing three years without CPP and workplace benefits that end the day the job does. The answer comes down to a handful of moves you may be weighing yourself.
Why it matters:
A market drop or a surprise bill right after you quit could force you to sell investments at the worst possible time. Every percentage point in fees on $650K also costs about $6,500 a year, roughly a quarter of a cautious withdrawal.
IN PARTNERSHIP WITH PolicyMe
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TAXES
CRA deadline: you could lose up to $1,800 in carbon rebates after Oct. 30
The carbon tax is gone, but the rebates some Canadians never collected are still sitting with Ottawa. If you, an aging parent or a grown child skipped a tax return in recent years, that money may still be yours to claim for a few more days. Missing the cutoff could mean it stays with the government for good.
Why it matters:
With four tax years still open, a household that skipped several could have rebates waiting in more than one of them. Because the CRA charges no late-filing penalty when you’re owed money, the only real cost is waiting.
MUST READ
The 1 habit Kevin O’Leary says turns an average salary into $1 million
Kevin O’Leary says you don’t need a bigger salary, a hot stock tip or a side hustle to retire a millionaire. The habit he credits is one his mother practised for decades, and it has nothing to do with timing the market. Whether you’re still saving or coaching your kids on theirs, the math behind it is worth a look.
Why it matters:
Canadian households set aside just 3.7% of their income in the second quarter of 2026, far below what it takes to build real wealth. Every year spent undersaving is compounding you can’t get back.
MONEY IQ
Using the Rule of 72, roughly how many years would it take money earning 6% a year to double?
ALSO MAKING THE ROUNDS TODAY
An Ontario woman was locked out of Amazon after one cancelled order triggered a ban, and the fix she needed never came from a chatbot
A Toronto family’s week-long road trip came back as a $5,900 Avis bill, and getting the charge reversed took far more than a card dispute
If a bounced payment ever cost you two $45 NSF fees at CIBC or Simplii, a refund could land in your account with no claim required
A family of four is on track to spend nearly $17,600 on food this year, but a few smarter habits at the checkout can shrink your share
MONEY IQ: HOW'D YOU DO?
Answer: D) 12 years. Divide 72 by the annual return to estimate how long your money takes to double.
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