By Allan Norman, MSc, CFP, CIM on February 25, 2026 Estimated reading time: 5 minutes

We’re 10 years apart. Can we retire together?

By Allan Norman, MSc, CFP, CIM on February 25, 2026 Estimated reading time: 5 minutes

Retirement planning for couples with a significant age difference calls for realistic projections but also flexibility.

My wife and I plan to retire at the end of 2027. I am 63 and my wife is 53. All our investments are split 50/50 between RRSPs and LIRAs for a total of about $1,450,000. We anticipate needing about $110,000 a year after tax in retirement. We have a line of credit, and we are paying it down by $36,000 a year. It will be paid off in 2027. With the age difference, are we okay to retire as planned or do we need to work a little longer? Also, when people make plans, and plan to sell their home in 20 years, do they really do that?  

Hi Kenny, I’ll answer your last question first, which essentially is, when people create a retirement plan, do they stick to it? My observation is yes and no. Everyone has things they enjoy doing and will likely continue doing. Plus, there are the additional things you will want to try. But over time things change, personally and financially, for all kinds of different reasons. For that person who plans to sell their home and live off the proceeds 20 years from now… who knows? It is an option that made sense when the plan was constructed.    

The purpose of going through a planning process is to discover what is possible........

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