December 2021 – Adjusting to life in retirement means retirees may have to adjust their spending habits. Some Canadians spend their lives saving then struggle to switch to a spending mindset, while others find themselves spending more than they bring in due to underestimated monthly expenses, unforeseen costs or overestimating their retirement income. Talk to your financial planner about your retirement income plans, including how to structure your pensions, other income and investments to ensure both spouses’ needs have been carefully planned and executed. Many cannot be changed afterwards, so get good advice. There are many options with just as many considerations that require careful planning.