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If the planets are aligned just right, when you reach retirement you may find yourself with almost zero chance of outliving your money.

You have worked hard, you did some smart things, and maybe you had some good fortune along the way as well. Now you have determined that you likely have more than you will ever need.

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If that is your situation, you likely have two key questions to answer:

1. What is the smartest way to fund your monthly expenses?

2. What do you do about all the extra money that you will likely not spend?

The first question used to be very simple. You had savings, and if you needed to, you would draw from your savings or investment account. Then came RRSPs, then came TFSAs and the simple answer became complicated. Suddenly people are talking about using a line of credit on your home or drawing down funds more quickly from a holding company; you have to decide whether to take CPP early or late; and you can even delay receiving Old Age Security if you want. There is a lot of juggling going on.