Retirement

  CA and author David Trahair says traditional planning doesn't work today and the cost of running that home may hurt your cash flow, and your lifestlye.  He says cash flow will ensure a comfortable retirement more than assets on paper. So the goal should be to  pay ALL your debt by retirement. Can you do it?  YES. But it won't be easy. Money is still a taboo subject and seniors are the fastest growing group of people who claim bankruptcy protection. 

So start talking, seek some independent advice from a financial planner or money coach someone you know recommends. But keeping your money trouble secret only makes it worse.  Track what you spend; know what your benefits will be when you retire by checking out Services Canada ; and if you have a company pension, read it to see if it's underfunded and can deliver on the promised payment in future.  The bottom line: it's better to pay off debt than borrow to buy.