Budgeting during retirement

From: Financial Consumer Agency of Canada

Learn about creating and following a budget during your retirement years.

Your budget in retirement will be different from your budget while working. For example, you’ll probably spend less money on commuting, but you may spend more money on traveling.

Also, your spending habits in early retirement may be quite different from your spending habits in late retirement. For example, you may need to spend more on housing if you move into a seniors’ residence.

It's important to review and update your budget on a regular basis. The income you get from pensions or savings may also change each year.

Use the Canadian Retirement Income Calculator to help you estimate what your retirement income may be.

Use the Budget Planner to create a budget and receive personalized suggestions.

Get tips on how to make a budget.

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