We’re now well into 2026, and if your New Year’s resolution to get a better handle on your money has already faded a bit, you’re not alone. Life gets busy, expenses add up, and saving can easily slide down the to-do list. As the late Sir John Templeton once said, “The best time to invest is when you have money.” For many people, though, the hardest part is simply figuring out how to get started.
One of the easiest ways to begin is by building the habit of saving. Even a small monthly contribution to an RRSP or TFSA can go a long way over time. Starting young certainly helps, but it’s never too late to begin while you’re still working. The key isn’t perfection—it’s consistency.
Believe it or not, everyone already has a financial plan, whether they’ve created one intentionally or not. Some people work with a trusted financial advisor to build a personalized strategy that reflects their goals and lifestyle. Others fall into the “default” plan—relying mostly on government programs like CPP, Old Age Security, and possibly the Guaranteed Income Supplement. While these programs are important, they’re usually meant to supplement retirement income, not fully support the lifestyle most people hope to enjoy.
You may have heard different advice about how to manage money during your working years. One popular idea is to focus first on paying down debt, building emergency savings, and saving for a home—putting retirement savings on hold until later. While this can work in some cases, it’s often challenging in high-cost housing markets like Toronto or Vancouver. Many families find themselves putting almost all their extra cash toward their mortgage, only to reach their 50s with little retirement savings and less time to catch up.
A more balanced approach is often more realistic—and that’s where cash flow planning really makes a difference. Cash flow planning helps you clearly see what’s coming in, what’s going out, and how to make room for multiple goals at the same time. Instead of choosing between saving for retirement, paying down debt, or enjoying life today, you can plan for all of it—intentionally and sustainably.
By understanding your cash flow, even modest monthly RRSP contributions can become a regular part of your budget, right alongside your mortgage and everyday expenses. Over time, this steady approach builds momentum. Ideally, you reach your 50s with a manageable mortgage, growing retirement savings, and more flexibility to focus on the lifestyle you want in retirement.
Good financial planning isn’t about cutting out everything you enjoy—it’s about making your money work with your life, not against it. With the right plan in place, you can feel confident about today while steadily preparing for tomorrow.
If you’d like help reviewing your cash flow, priorities, and long-term goals, we’d be happy to walk through it with you. Let’s make sure your plan still fits your life.
We’re excited to share that we’re developing a new app designed to make your experience even better. As we get closer to launch, we’re looking for clients who may be interested in helping us test it and provide feedback. If you’d like to be part of this early group and help shape the final product, we’d love to hear from you.
