Most of your investing life you and your adviser (if you have one) are focused on wealth accumulation. But, we tend to forget, eventually the whole idea of this long process of delayed gratification is to actually spend this money! That’s decumulation as opposed to wealth accumulation. This stage may also involve downsizing from larger homes to smaller ones or condos, moving to the country or otherwise simplifying your life and jettisoning possessions that may tie you down.
By Dale Roberts, Retirement Club/cutthecrapinvesting
Special to Financial Independence Hub
It appears to be an overlooked part of retirement planning. While we should always invest within our risk tolerance level we should also match our investment portfolios to the retirement cash flow plan. The plan gives the marching orders for each account. If you create a portfolio-to-plan mismatch, you could increase the risk of depleting an account too soon. On the other side if you are too conservative where an account has the time horizon to run, you create opportunity cost. You missed the opportunity to create significantly more wealth over time.
As always the following is not advice.
We can look to the Canadian asset allocation ETFs for a lesson on risk and asset allocation. In that post that tracks the performance of the asset allocation ETF providers, you’ll find this key table.
Source: Dale/ETF providers. Keep in mind there is no guarantee of returns for any period
We can see that when our time horizon is short we create conservative portfolios with lots of bonds and cash. When we have a longer time horizon of 10 years and more, we can be more aggressive perhaps even holding an all-equity portfolio. But once again, risk tolerance permitting.
I recently discussed risk and common mistakes on the BMO ETF Insights YouTube channel.
In the accumulation stage we might pay attention to this chart if you are saving for a home and plan to buy within the next two years. If would be very risk to hold those home down payment funds in an all equity (XEQT-T) portfolio. Your $100,000 could quickly be turned into $50,000 in a severe bear market.
Sequence of returns risk in retirement
Risk gets flipped in retirement. In the accumulation stage if you have 20 years to go before retirement and we enter a severe bear market, “great”. You can now buy your companies/equities at fire-sale prices. Over time that can generate a boost to your wealth creation. You own more of those great companies. Continue Reading…
My latest MoneySense Retired Money column has just been published. You can find the whole column by clicking on the hyperlink here: Online Influencers Grow Up.
When it comes to financial influencers, the popular term is Finfluencer, a contraction similar to my own Findependence for Financial Independence.
The column was inspired by an interesting gathering of Canadian finfluencers organized by BMO ETFs, which occurred in the first half of June. The BMO Creator Insights Forum was held at Cboe Canada in Toronto and it ran a scrolling feed of domestic finfluencers which included Yours Truly.
Back in April of 2025, the OSC released a research report titled Social Media and Retail Investing: The Rise of Finfluencers, which found investors are indeed quite influenced by Finfluencers: OSC research on 655 Canadian retail investors found 35% of them had made a financial decision based on advice from a Finfluencer. Furthermore, 24% of 1,465 Canadian social media users (both investors and non investors) exposed to finance-related social media posts were found to have purchased the promoted assets, versus just 7% those not so exposed.
“Financial advice on social media is appealing because retail investors perceive it to be accessible, free, and informative,” the OSC said, “While retail investors believe finfluencers are generally motivated by self-interest, about 40% of investors believe that the finfluencers they follow are trustworthy. Those who have made a financial decision based on finfluencer advice were seven times more likely to trust finfluencers they follow.”
To be sure, it appears the more successful ones can make money at it: one BMO slide showed that the global influencer market is worth US$33 billion in 2025, up 35% from US$24 billion a year earlier; and it estimated C$1.9 billion Canadian spending by corporations on Finfluencer marketing in 2025, up 23% from 2024. One in six Canadian retail investors have purchased an Exchange Traded Fund (ETF) because they heard about it on some form of social media.
The MoneySense column highlights the experiences of several (mostly young) Canadian Finfluencers, whose channels typically are YouTube, TikTok, Instagram and a few other platforms. They describe how they got their starts and built commnities that can eventually be monetized. It can be hard work in the early years, as with any one starting a business, and a precious commodity is building and maintaining reader or viewer trust.
Regulatory considerations for Finfluencers
The BMO Creator event closed with a more cautious overview of the regulatory risks corporations and Finfluencers jointly bear. One of the last slides, titled “Be Proactive!” advised Finfluencers to read the OSC notice, review their existing content inventory, evaluate services for registerable activities or disclosure requirements, Follow sponsorship disclosure requirements, Be careful of who you help endorse or promote and to Seek legal help to help stay compliant.
In short, whether you’re a seasoned investor (in both senses of the word) or still working, it’s very much a Buyer Beware world out there, while if you’re a content creator of any age, Trust is not a commodity to be abused or taken for granted. As Adrian Bar warned, content creators are better off passing on what might have otherwise become lucrative partnerships if it compromises trust with their audience down the line.
Good on creators like that but if you’re a consumer or investor, wait until a Finfluencer has earned your trust; until then, take pronouncements on YouTube or other platforms with the proverbial grain of salt.
This summer does not seem to be shaping up to be one that those nearing Retirement can take a long vacation and forget about the markets.
Global macroeconomic headwinds like the ongoing on-again, off-again Iran war continues to impact the price of oil and thus aggravate inflation fears already stoked by high government borrowing levels.
Add to that growing trepidation of a fast-expanding AI Bubble that skeptics warn may burst at any moment, the often-parabolic moves of now-trendy chip and memory stocks and it seems a time to retrench and rebalance. And if that were not enough, Canadian investors need to worry about the ongoing Tariff and global trade wars ignited by the deranged Tariff Man in the White House, and repeated signals that the CUSMA/USCMA negotiations may result in no free trade deal at all.
For this blog — which is being published precisely half way through 2026 — I once again reached out to Linked In and Featured.com, which recently changed its name to Connectively, to get expert opinions from financial advisors, investment executives, business owners and other experts to get their views and suggestions for getting through this summer of investor ennui.
Here’s how the question was posed at Connectively:
How cautious about their investments do you think those in or near Retirement need to be this summer, in light of the ongoing Iran war and impact on inflation; increased nervousness about an AI Bubble and volatile chip and memory stocks, and finally global trade uncertainties in light of the negotiations of CUSMA/USCMA? Suggestions for rebalancing or hedging, role of commodities in preparing for higher inflation.
Out of almost 100 responses, we have picked 19 shown below. As usual, the complete responses are accompanied by the sources’ head shots and bio links to their respective web sites. We have added subheadings to speed readers to the content that seems relevant to particular readers.
Capital preservation deserves equal attention to growth
Investors approaching or living in retirement face a particularly challenging environment this summer. Geopolitical tensions in the Middle East, persistent inflation risks, AI-driven market exuberance, and ongoing trade negotiations have created a backdrop where capital preservation deserves equal attention to growth. Research from the Federal Reserve shows that inflation remains one of the greatest threats to retirement income because rising costs can erode purchasing power over time. At the same time, concentration risk has become more pronounced, with a small group of AI and semiconductor stocks accounting for a significant share of recent market gains.
A prudent approach often involves broad diversification rather than attempting to predict short-term market movements. Exposure across dividend-paying equities, high-quality bonds, inflation-protected securities, and select commodities can help reduce portfolio volatility. Gold and other commodities have historically served as partial hedges during periods of geopolitical uncertainty and inflationary pressure, though excessive concentration in any single asset class may introduce new risks.
Retirement portfolios generally benefit from maintaining adequate liquidity, regularly rebalancing allocations, and ensuring that investment decisions align with income needs rather than market headlines. In uncertain periods, resilience tends to outperform speculation. — Arvind Rongala, CEO, Edstellar
Retirees should focus first on Iran and its Inflation spillover
Retirement timing matters enormously here. I’ve worked with clients who looked fully prepared on paper but had nearly everything exposed to the same macro headwinds you’re describing: trade disruption, energy price shocks, and concentrated tech positions all hitting simultaneously.
The Iran situation and its inflation spillover is where I’d focus first for near-retirees. In April 2025, we watched gold hit nearly US$3,500/oz and money market funds absorb record inflows precisely because investors needed somewhere to park cash when equities wobbled. A deliberate cash buffer covering 12-18 months of withdrawals changes your emotional decision-making completely: you’re not forced to sell equities into a bad market.
On the AI bubble concern specifically, the Nasdaq entered bear market territory earlier this year largely on tech concentration. If you’re holding broad index funds, a target-date fund, and individual chip or memory stocks, you likely have far more AI exposure than you realize. Run a simple overlap check across every holding before assuming you’re diversified.
For commodities as an inflation hedge, I’d think about it sequentially rather than reactively: energy-linked assets and real assets like REITs behave differently depending on whether inflation is demand-driven or supply-shock-driven. With CUSMA/USMCA renegotiation creating genuine input-cost uncertainty for North American manufacturers, agricultural and metals exposure makes more structural sense right now than chasing whatever commodity headline is hot that week. — Daniel Delaney, Owner, Seek & Find Financial
Cut back on concentrated tech holdings and replace with a proportion of your money in short-duration TIPS and I-Bonds
If you’re approaching retirement age in the next few years, this is a particularly critical summer to be proactive. Here’s what I tell folks at MintWit: The problem is not the potential for picking the wrong stock. The risk lies in having been entirely too heavy in equities such that, come a simultaneous geopolitical shock, an AI-driven stock price correction and an inflation spurt triggered by trade war, all three can come crashing down at once before you even have the chance to catch your breath.
The prudent response here is to run your current allocation through a stress test of chip stocks falling 30% while energy prices surge owing to a crisis in the Middle East, and rising costs due to renegotiation of CUSMA terms for North American goods. The reason why you’re losing sleep over it is because you may well be too heavily exposed to growth equities with too little hedging against inflation.
As far as your reallocations, my recommendation is to cut back sharply on concentrated tech holdings and replace with a proportion of your money in short-duration TIPS and I-Bonds, in order to build up that buffer for the likelihood of sticky inflation. I would also recommend a small investment (say 5-10%) in commodities – especially energy and agriculture-related ETFs – to cover your inflation exposure, rather than speculative trades in commodities. As ever, gold continues to function as a geopolitical hedge, although you want to remain disciplined about it.
In sum, the most important thing for those close to retirement at this juncture is optionality. Make sure you have enough of your assets in low-risk, liquid investments so that when the worst-case scenario strikes the market, you don’t end up selling your stocks at rock bottom. — Scott Brown, Founder, MintWit
Chasing every new trend or algorithm change just doesn’t work
I work in tech, but I’ve learned to be cautious. Chasing every new trend or algorithm change just doesn’t work. The steady approach wins every time. I think retirees should treat their money the same way. Don’t panic over headlines. Make small, gradual adjustments to your investments instead. Keeping some money in commodities can help with inflation, and regular check-ins ensure your savings match your life, not the market noise. — Vlad Ivanov, CEO, Search GAP Method
Be cautious but don’t panic … take a barbell approach
I’d be cautious, but I wouldn’t panic. The S&P 500 is now so concentrated in the Magnificent-7 that those names effectively drive the whole index. Off the March low, the Nasdaq-100 ran up roughly 20%, and at points was going nearly parabolic. With renewed tensions and conflict involving US and Iran, we’re now seeing that move cool off with both profit taking and sector rotation into more defensive areas.
On the surface that looks scary. But if you step back to the technicals, we still haven’t broken the 50-day moving average or the 10-week moving average, so there’s real support underneath this market for now.
Volatility like this is genuinely uncomfortable, though, so for someone in or near retirement I’d lean into a barbell approach. Keep some of your high-growth exposure, but balance it with quality dividend payers that cushion the ride and pay you while you wait.
Off the top of my head, two names that fit the stable, income side of that barbell are THG, The Hanover Insurance Group, and PSTL, Postal Realty Trust, a REIT that leases almost exclusively to the US Postal Service, so its rent is effectively government-backed. Neither is a rocket ship. They grow slowly, pay a dividend, and hold up better when the high-flyers wobble. That dividend income is also what helps offset paper losses in a drawdown, so you’re not forced to sell your growth positions at the worst possible time.
These are just examples of the type, not recommendations, but the principle holds is that in a summer like this, you want both ends of the barbell. — Adrian Rosebrock PhD, Chief Investment Officer & Founder, WheelMetrics
Early signs of Stagflation in major economies worldwide
The ongoing Iran conflict is beyond energy deficiency. You could see early signs of stagflation in the major economies worldwide. The volatility is pressuring retirees and the ones approaching retirement with underwhelming returns. According to the latest research by Goldmann Sachs, the uncertainity imposes lower returns on equities and bonds for a brief 1.5-2 years approximately.
With the AI bubble, the tech-heavy portfolio takes the backseat by default. CUSMA renegotiations including currency fluctuations and supply chain instability, navigating pitfalls collectively. All the factors compound to an inflation scenario. Rebalancing is safeguarding the assets and materials, ensuring protection of the equity before inflation wears down.
The average retirement portfolio is leaning more towards innovation but with less focus on the practical inflation scenarios. Last minute-hassle is not going to help in navigating the situation this summer. Portfolio review has become more vital with ongoing fluctuations. — Ankit Sarawagi, Curator, CFO Matrix
Trim the Sails, don’t abandon the Boat
If you’re close to retirement or already in it, the headlines this summer can feel pretty scary. Conflicts overseas, shaky tech stocks, trade deals up in the air, it’s a lot. But here’s what I’d tell anyone in that season of life: don’t let the noise push you into a panic move.
The real risk for retirees isn’t market swings. It’s making emotional decisions that lock in losses or leave you without income when you need it most. If your money is set up right with a solid base of guaranteed income and some protection built in, short-term chaos shouldn’t shake your foundation.
That said, this is a good time to take a closer look at your mix. With inflation still a concern, partly because of oil and energy tied to what’s happening overseas, it makes sense to have some exposure to real assets like commodities. Gold, energy, and other hard assets have historically held up better when prices rise. They’re not glamorous, but they do a job.
If you’re heavy in tech or growth stocks right now, some rebalancing could reduce your risk without pulling you out of the market entirely. Think of it like trimming the sails, not abandoning the boat. The goal at this stage isn’t to chase gains. It’s to protect what you’ve built and make sure it lasts as long as you do. That’s what smart financial planning for this chapter of life is really about. –– Paul Mauro, Founder & Author, Smart Financial Lifestyle
The biggest risk is being overly concentrated in assets that have performed well recently
For investors who are in or approaching retirement, I believe caution is warranted, but not panic. The biggest risk is often not a war, an AI bubble, or trade negotiations themselves, but being overly concentrated in assets that have performed well recently. Retirees generally have less time to recover from significant market declines, so preserving capital becomes increasingly important. If a portfolio has become heavily weighted toward high-growth technology or AI-related stocks, this may be a sensible time to rebalance and lock in some gains rather than relying on a single investment theme to drive future returns.
I would focus on diversification across asset classes, including quality dividend-paying stocks, investment-grade bonds, and a reasonable cash reserve. Commodities can also play a useful role as an inflation hedge, particularly energy and precious metals, but I view them as a supporting allocation rather than a core holding. The goal is not to predict whether inflation will rise or whether technology stocks will correct, but to ensure the portfolio remains resilient under multiple scenarios.
The most successful retirees I have seen are not those who accurately forecast every market event. They are the ones who build portfolios that can withstand uncertainty. In today’s environment, disciplined rebalancing and risk management are likely more important than trying to predict the next geopolitical or economic headline. — Bowen He, Director, Webzilla Digital Marketing Continue Reading…
Retirement doesn’t always unfold the way you imagined, and that’s not necessarily a bad thing. While many people envision spending their later years with a long-term partner, life can take unexpected turns. Whether you’ve experienced a gray divorce or simply found yourself entering your golden years on your own, a solo retirement can feel like unfamiliar territory.
Create an Action Plan
Solo retirement has increasingly become a reality, with about 28% of Americans age 65 and older living alone. However, the good news is that retiring solo doesn’t mean sacrificing financial security or personal fulfillment. In fact, it can be an opportunity to refocus your priorities to reflect your unique needs. You just need to take actionable steps to adapt your financial plan to this new reality, which can help you gain peace of mind.
1. Revisit your Financial Numbers
The first step is updating your financial assumptions, as you might experience the extra costs of living alone or single’s tax, as it’s more commonly known. Many retirement plans are built around shared expenses and savings goals and the expectation that two people will contribute to household finances.
As such, start by reviewing your retirement budget and identifying what has changed. Consider expenses like housing, healthcare and insurance. Some costs may be lower when living alone, allowing you to reallocate funds to your top priorities.
This is also a good time to update your income projections and withdrawal strategy, as having an accurate picture of your finances can help you make thoughtful decisions about spending and future planning.
2. Adjust your Investment Strategy
A solo retirement can be an opportunity to take a fresh look at your investments and ensure they support the life you want to build. Rather than focusing solely on what has changed, consider how your portfolio can be adapted to provide both stability and continued growth throughout retirement. Review your asset allocation to ensure it aligns with your current needs and balances growth investments to protect against inflation.
At the same time, avoid making emotional investment decisions during major life transitions. For example, about 36% of adults getting divorced are aged 50 or older. This could lead to emotional investment decisions that later cause uncertainty and instability.
This may also be an ideal time to create or refine a comprehensive retirement income plan. Coordinating sources such as Social Security, pensions and investment withdrawals lets you build a predictable income stream that supports your lifestyle and reduces uncertainty.
3. Build a strong Support Network
One of the greatest advantages of planning for a solo retirement is the opportunity to intentionally create a network that supports both your financial well-being and your quality of life. While retirement planning often focuses on savings and investments, the relationships and resources around you can be just as valuable.
If you’ve experienced gray divorce, laying your grievances to rest can heal your family and make the path forward much simpler. Take time to strengthen connections with the people and communities that enrich your life, as family, friends and neighbors can play meaningful roles in helping you stay engaged and supported.
This is also a great time to organize your legal and financial documents. Review powers of attorney, healthcare directives, and beneficiary designations to ensure your wishes are documented and that trusted individuals are prepared to help. This planning brings peace of mind and confidence in retirement.
4. Rethink your Living Arrangements
An unexpected solo retirement can be the perfect opportunity to create a living situation that better supports the lifestyle you want in the years ahead. While housing is often one of the largest retirement expenses, it can also be one of the most flexible parts of your financial plan. Continue Reading…
Can you imagine having the opportunity to study two decades worth of retirement research, and gleaning the keys to a great retirement from the experts? I recently had that opportunity when I took the time to read a 90-page study titled “The Experience Of The Transition To Retirement,” a study that filtered through 1,800 research papers!
Today, I’m summarizing the results from that study and presenting to you 5 Keys To A Great Retirement, along with additional findings from this extensive research.
Using Research To Improve Retirement
The goal of this research project was to understand what led to successful retirement transitions and to “better understand how best to help individuals navigate this transition”, as well as “how to improve the quality of post-retirement life”. Valuable information from which you, the reader, can benefit.
Before I present The 5 Keys To A Great Retirement, there are some findings in the study which I found interesting. For the sake of brevity, below is a list in bullet form. Note that the study did focus on gender/socioeconomic/ethnic/cultural differences, so it’s best to read the findings with that in mind:
25% of retirees experience difficulties in the transition to retirement.
Men tend to have more positive attitudes toward retirement and be more engaged in planning for retirement than women.
Based on the studies, women appear to have greater difficulty in adjusting to retirement than men.
Those in higher Socioeconomic positions tend to work longer than those in lower positions.
Being married is associated with greater preparedness and a more proactive approach to planning for retirement.
Where work is important to an individual’s identity, retirement causes more conflict and anxiety.
Nearly half of those aged 50 and over said that they expect to retire later than they had thought they would.
Governments from around the world have enacted policies that seek to reverse an ‘early exit culture’ and extend the length of people’s working lives, maintaining economic productivity and reducing social spending.
Yes, there was a lot of interesting information in those 90 pages (trust me, I read every page). Boiling it all down, below are my takeaways on what comprises the 5 Keys To A Great Retirement.
1.) Control Your Destiny
The first finding was that those who felt they had the most control over their retirement decision were also those who most enjoyed their transition into retirement. To quote the study:
“One of the most consistent and convincing findings in this review is that a sense of control is associated with positive retirement outcomes.”
While you may feel that you don’t control your retirement as much as you’d like, the reality is that there are a lot of areas in your retirement planning where you can influence the results. Simply taking the time to prepare for your transition into retirement (See Key #2) is, in itself, exerting some control over your destiny.
Don’t leave your retirement to chance.
Given that you’re reading a blog on retirement, you’re likely ahead of your peers in tackling the first of these Keys To A Great Retirement. You’re taking control of your retirement, and your retirement will be better as a result.
2.) Imagine What Your Retirement Will Be
The second of the 5 Keys To A Great Retirement was the finding that those who took time before retirement to imagine what their retirement would be were also those most likely to have a good retirement. Think beyond finances. Finances play a small role post-retirement, and yet most folks think most about the financial implications of retirement when preparing for the transition.
Broaden your scope, and spend time thinking about what you want your retirement to be. Dedicate some time, while you’re still working, to take a Test Run At Retirement, like my wife and I did. Take some time to think about:
What will your life look like when work is no longer mandatory?
How will you spend your time?
What will give you Purpose?
Where will you live?
The research indicates that retirement planning “has potentially important consequences,” not just for financial security in retirement, but also ” in promoting satisfaction with, and adjustment to, the retirement lifestyle.”
It’s been proven by the research that planning for retirement while you’re still working is one of the best things you can do to ensure that you’ll have a great retirement. Make it a priority, it’s one of the keys to a great retirement.
3.) Develop Retirement Goals
Retirement is a luxury.
For the first time since you started school, you’re free to do whatever you want with your life. It’s also the first time that you’re 100% responsible for deciding how you’re going to spend your time.
Are you going to Die While You’re Living, Or Live While You’re Dead? Decide what retirement means to you, and develop some goals to help you prioritize the things which are most important to you. Focus on what matters to you, and create a plan to do the things you want to do, and avoid doing the things you don’t.
Create an action plan to move your retirement From Good To Great. Create your own 10 Commandments of Retirement, and outline what really matters for your life in retirement. Recognize that your role and identity will change from when you were a worker with employer-defined goals. You’re now Independent, and you should define your own identity, supported by your own goals. Continue Reading…
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