Good morning! Money has a way of hiding in plain sight. Whether it's tucked into home equity you haven't counted, sitting in a rental instead of a mortgage, or building quietly through a few habits instead of a big salary, the real number is often bigger — or better — than it looks on paper. Today's issue is about finding the math you might be missing.
On The Money Today:
The retirement number Canadians keep getting wrong
Why staying a renter could beat buying before you retire
The 3 numbers standing between you and seven figures
Let’s dive in.
RETIREMENT
If you're only counting what's in your RRSP, you might be underselling your retirement. Most Canadians nearing their 60s have far more tucked away than a single account shows, once you factor in a paid-off home and future CPP and OAS payments. Here's what your real number likely looks like.
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RETIREMENT
Buying before retirement isn't always the safer financial move. Planners say renters in their 60s may come out ahead once carrying costs, taxes and upkeep are factored in. The math is worth weighing before you sign anything.
FEATURE
You don't need a six-figure salary or a finance degree to hit $1 million, just the right numbers, tracked consistently at the right time in your life. It's less about how much you earn and more about a few habits compounding in the background. What to watch for — and how it applies to your own retirement plan.
MONEY IQ
Roughly how long has the "average" Canadian homeowner lived in their current home, according to recent housing surveys?
ALSO MAKING THE ROUNDS TODAY
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MONEY IQ: HOW'D YOU DO?
Answer: C) 13 years — The average Canadian homeowner has lived in their current home for about 13 years, according to recent housing surveys. That kind of staying power is a big reason planners say the rent-vs-buy math shifts so much once retirement is on the horizon.
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.
