Retirement should feel exciting — not uncertain

Many Canadians enter retirement with unanswered questions, avoidable risks, and financial blind spots that can cost them peace of mind.

At Van Alphen Wealth, we help families across British Columbia retire with clarity and confidence. This guide highlights the most common mistakes we see — and the simple steps you can take to avoid them.

“Clarity is the foundation of a confident retirement.”

1. Not knowing how much they can safely spend

Most retirees either overspend early or underspend out of fear.

Consider the folllowing:
- Creating a personalized withdrawal strategy
- Stress‑testing your plan for market downturns
- Reviewing your spending annually

2. Taking CPP and OAS at the wrong time

The timing of CPP and OAS can significantly impact lifetime income and taxes.

Consider the following:
- Coordinating benefits with your spouse
- Considering longevity, health, and other income sources
- Running a break‑even analysis before deciding

3. Ignoring taxes in retirement

Poor planning can lead to higher taxes, OAS clawbacks, and inefficient withdrawals.

Consider the following:
- Planning RRSP/RRIF withdrawals strategically
- Using TFSAs for tax‑free income
- Coordinating income sources to reduce tax drag

4. Failing to plan for healthcare and long‑term care costs

Unexpected medical expenses can derail even strong retirement plans.

Consider the following:
- Budgeting for long‑term care
- Reviewing insurance options
- Building a contingency fund

5. Not updating their estate plan

Outdated wills and beneficiary designations create unnecessary stress for loved ones.

Consider the following:
- Reviewing your estate plan every 3–5 years
- Coordinating with legal and tax professionals
- Ensuring your plan reflects your current wishes

6. Investing without a strategy

Retirement investing is different from accumulation.

Consider the following:
- Using a diversified, risk‑appropriate portfolio
- Aligning investments with your withdrawal plan
- Rebalancing regularly

7. Trying to navigate retirement alone

Retirement is complex — taxes, markets, benefits, estate planning, and income strategies all intersect.

Consider the following:
- Working with a qualified advisory team
- Reviewing your plan annually
- Getting a second opinion if you’re unsure

Your retirement deserves clarity

Avoiding these mistakes can add years of confidence to your retirement. The next step is simple: get a personalized plan built around your goals, your family, and your financial reality.

Book your complimentary retirement clarity call

We’ll walk through your goals, identify risks, and show you how to retire with confidence.

Van Alphen Wealth — CIBC Wood Gundy
Serving families across British Columbia