Here are some resources to answer financial questions related to this stage in life.

Retirement planning

A retirement plan helps you decide what type of lifestyle you’d like to have, how much you need to save and how to manage your money after you stop working. Retirement planning is about managing your money so you can make the most of your retirement years. Your retirement plan should balance your needs, wants and the reality of your finances.

3 reasons to have a retirement plan

  1. Set goals. A plan helps you set goals for retirement, including the age when you want to stop working and your lifestyle.

  2. Know how much to save. It can help you figure out how much money you need to save to live comfortably in retirement.

  3. Choose what to invest in. A plan can guide your investment choices based on your goals and your risk tolerance.

Review savings plans


How much you need to save depends on 3 things:

When you start saving makes a big difference in how much you need to put away. The younger you are when you start, the less money you have to put aside, thanks to the power of compounding. Use this calculator to see how much you could save.

Do you plan to stay home or travel the world? The amount you’ll need to save will depend on the life you plan to lead when you retire.

You could be entitled to government retirement benefits like the Canada Pension Plan (CPP), Old Age Security (OAS) and the Guaranteed Income Supplement (GIS). If you’re eligible for income from these government programs, you might not have to save as much.

Are you eligible for a seniors tax credit?

As a senior, you may qualify for certain tax credits. You may also be able to claim expenses like medical costs and caregiver costs.

Learn more

Wills and estate planning

Estate planning involves identifying who you want to give your assets to and when (during your lifetime, at death or sometime after death).

Your estate plan may also include:

  • Ways to meet the financial needs of your family members if you die or become incapable of managing your affairs

  • Steps to minimize taxes that you or your estate might pay, and

  • A plan to sell or pass on your ownership stake in a business.

Documents commonly used in estate planning

A will is the cornerstone of an estate plan, but your plan may also include:

Helpful resources kits

Get more resources to help you protect your money.

See more resources

Learn more about wills and estate planning

Financial abuse

Aging can be accompanied by health, mobility, or cognitive changes that may affect a person’s ability to make decisions later in life, as well as their susceptibility to financial exploitation and fraud.

It’s important to recognize that these factors may affect different individuals at different points in their lives, and to significantly different degrees.

If you believe or suspect that someone is stealing funds or manipulating you into giving them money, access to accounts, or financial power, here are some steps you can take to help stop the behaviour:

This could be a neighbor, a family member, a health care worker, or someone else in your community. They can help you in getting assistance.

Examine your bank, investment and pension records to confirm if there’s any suspicious activity. You can also ask for copies of cashed cheques. You may also want to review your will, power of attorney and other important paperwork. If something is unclear, speak with your bank or financial representative directly.

There are people who can help you look out for your financial interests. This includes your lawyer or accountant.

Fraud is a serious crime that will be taken seriously. Non-emergency police staff can be of assistance in investigating suspicious activity and potentially charging those who break the law.

Contact the Seniors Safety Line (SSL): 1-866-299-1011. Available 24/7, a free and confidential resource that provides information and support in over 150 languages.

Protection from financial abuse

To get a better understanding of elder abuse visit Canadian Network for the Prevention of Elder Abuse (CNPEA) which has tips and resources for Canadians in every province.

Visit to learn more