Good morning. The math isn't working out the way most Canadians planned — and people are finding their own ways to deal with it.
On The Money Today:
A Scottish couple sold their home, moved onto a cruise ship and ended up spending less than they did on land
CPP and OAS alone may not be enough — here's how retirees are topping up from home
Having $500K to $5 million saved may still leave you exposed — the retirement trap catching mass affluent Canadians off guard
Let's get into it.
Katrina and Kevin Middleton were spending over US$5,500 a month on housing, cars and energy in Scotland. So they sold their home for C$478,000, packed up and moved onto one of the world's largest cruise ships full-time. For Canadians spending an average of C$3,226 a month on shelter alone — well above the 30% affordability threshold — their math is worth a second look.
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59% of unretired Canadians don't think they'll ever be able to fully retire — and even those who do are finding that CPP and OAS combined add up to roughly $1,668 a month, which isn't much to live on. A growing number of seniors are finding ways to bridge the gap on their own terms, without committing to a 40-hour week or leaving the house.
Canadians with $500,000 to $5 million fall into what planners call the "mass affluent" — too wealthy for basic financial planning, but below the threshold for private wealth management. That gap creates real retirement risks most never see coming: liquidity crunches, longevity risk and savings that could lose half their purchasing power. Here's what to watch for.
MONEY IQ
As of early 2026, what is the combined maximum monthly CPP and OAS payment for a Canadian between 65 and 74?
ALSO MAKING THE ROUNDS TODAY
ECONOMY: Suze Orman says don't panic sell your TFSA or RRSP during the Iran war — here's what to do instead
CREDIT CARDS: Only 8% of Canadians used a balance transfer offer last year — here’s what the other 92% are missing
RETIREMENT: Boomers may be Canada’s wealthiest generation — but younger Canadians still have a path to catch up, here’s how
TAXES: From secondary suites to personal support — the 2026 tax perks you may have missed
ECONOMY: Montreal landlords are pushing for rent hikes as high as 20% — here’s how tenants can fight back
MONEY IQ ANSWER
As of early 2026, the average CPP payment sits at $925.35 and the maximum OAS for Canadians aged 65 to 74 is $743.05 — combining for roughly $1,668 a month. For most Canadians, that's well below what's needed to cover basic living costs.
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