With Valentine’s Day around the corner, it’s a good reminder that retirement planning isn’t one-size-fits-all. Whether you’re part of a couple, planning on your own, or navigating a life change, your strategy matters.

In this episode of Think Smart with TMFG, Mike Connon and Carlo Cansino, Senior Financial Advisors at CI Assante Wealth Management, discuss how retirement planning changes depending on your personal situation.

They explain why it’s a mistake to assume that income and expenses automatically scale down when someone is on their own. While couples often benefit from shared costs, income splitting, and built-in support systems, individuals planning independently, or those who may face changes later in life, need to think differently about taxes, cash flow, and long-term security.

Mike and Carlo walk through Canadian income and tax considerations, including how pension income splitting and Old Age Security (OAS) treatment can significantly affect after-tax income. They also discuss why many everyday expenses, such as housing, utilities, and travel, don’t decrease as much as people expect, regardless of household size.

Beyond the numbers, the conversation highlights real-life planning considerations: having support systems in place, preparing for healthcare needs, simplifying finances, and building flexibility into your plan. Whether you’re planning as a couple or on your own, understanding these differences can help you stay prepared for whatever life brings.

The key takeaway? A strong retirement plan adapts as your life evolves, and thinking ahead makes all the difference.

Question for our Listeners: Does your current plan account for both financial and lifestyle considerations?

📌 If you’d like help reviewing your retirement plan or adjusting your strategy, you can book a meeting with our team here: Schedule your meeting here.

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